For Equity Residential’s $2.5 billion backup line of credit known as a revolver, lenders have historically treated the process like a formality or an administrative task, Chief Financial Officer Robert Garechana said in an interview. This time, there were many more discussions, often focusing on what business banks would get from the company in return, he said.
Fearful of shortages, retailers including Gap Inc. and Nike Inc. ordered extra and did so earlier than usual, but a combination of poor forecasting and inflation-stung shoppers created massive gluts.
PREIT CEO Joseph Coradino talks with Commercial Property Executive about where regional malls are heading. Community-owned commercial real estate is gaining in popularity, according to Next City. These are among today’s must reads from around the commercial real estate industry.
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