Did you ever think that the stock price of an Australian company could affect what goes on around here? Read on.
Centro Properties Group, which owns or manages more than 700 U.S. retail properties, is having trouble refinancing $3.4 billion in debt. Its stock price hit a 52-week low this week, and it took a variety of other strip center developers with it, including Regency Centers and Kimco, which also own and manage property in this market.
Centro’s big names in the Dallas area include Wynnewood Village in Oak Cliff, but it also has the Spring Valley Crossing on Coit Road in this neighborhood. Regency used to own Casa Linda, and still has northwest corner of Mockingbird and Abrams. Kimco has CityPlace.
How will this turmoil affect the way these companies manage their local properties? How will it affect other development plans in the area?
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