Sears real estate holdings are in the billions. It’s the only thing that has kept them afloat. They have been selling off properties to absorb their operating losses in retail. But they still hold real estate valued at between and 7 billion.
Valued on paper, but no one will pay the book value for those properties sitting on old malls that are going under.
Sears real estate holdings are in the billions. Its the only thing that has kept them afloat.
**************************
That hedgie was counting on a recovery to pump up commercial real estate pricing... right now he knows that isn’t going to happen... commercial real estate is generally financed with 5 to 7 year balloon notes... he won’t be able to pay the notes as they come due and will “cram down” the negative balances if he can... Can He? If not Sears goes under..