$SPG Buying JCP is about saving the Co-Tenancy Agreements, pure and simple. Don't read too much into it. Yes, the space could be reconstructed into something else and maybe Amazon could use them. But that has been the recovery story retail REITs have been telling for years and takes money which comes with uncertainty. So far, there's not yet a single successful case. I'm personally bullish on Simon but that doesn't come with no risks. So sick of people calling it a "no brainer" investment or double your money in a year. This could be a painful journey and has been one.
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