Despite Commercial Real Estate Worries, Simon Property's Business Remains Strong
Over the past year, the business media raised attention about cracks in the commercial real estate sector. Office commercial real estate is a well-known problem, and issues are emerging in retail as well. Rising interest rates raised the cost of financing for many developers, and according to some reports, the value of distressed retail real estate assets rose from $18 billion at the end of March 2023 to $23 billion at the end of June.
Of course, not all commercial real estate is the same. Some properties perform better than others. One real estate investment trust (REIT) that seems to be bucking the trend with strong fundamentals is Simon Property Group (NYSE: SPG). Here's why the company (and the stock) are still doing fine.
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Source Fool.com
