As a leading real estate retail operator in Italy, we expect the company to take advantage of the improving macroeconomic environment. LTV reduction should support a rerating in comparison to peers, with the NTA discount to narrow vs. historical levels too.
Retail market - where are we?
Rents have stabilised in H1, but we expect some pressure until sales/footfall returns close to pre-pandemic levels. Yields for prime shopping centres expanded and we expect a similar dynamic to continue. By co ....
26 Oct 2021
The devil is in the retail
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The devil is in the retail
- Published:
26 Oct 2021 -
Author:
Michi Dario DM | Jones Rob RJ -
Pages:
57
As a leading real estate retail operator in Italy, we expect the company to take advantage of the improving macroeconomic environment. LTV reduction should support a rerating in comparison to peers, with the NTA discount to narrow vs. historical levels too.
Retail market - where are we?
Rents have stabilised in H1, but we expect some pressure until sales/footfall returns close to pre-pandemic levels. Yields for prime shopping centres expanded and we expect a similar dynamic to continue. By co ....