Sunday, March 22, 2009

Major REIT Deal Gets Done

Another sign markets are opening up, Simon Property Group, the largest publicly traded REIT, with huge holdings--including many top line malls, went to the market at the end of last week to raise $500 million UNSECURED. Get that, unsecured, by a REIT? The coupon offered was 11%. So what happens? They were able to upsize the deal to $650 million and lowered the coupon to 10.35%.

Folks, this is known as a BUY SIGNAL.

The rocket fuel the Fed has been pumping since September has started to launch some rockets.


  1. BUY SIGNAL ???

    are u serious? bear market is over? i was expecting some real pain or riots before this whole recession thing is over.