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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Ralph Lauren is fighting with its landlord over a bargain sublease of its grand store at 711 Fifth Avenue in Manhattan, which reveals landlords fears over plummeting real-estate values on the iconic stretch. Reuters This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Ralph Lauren has entered into its arbitration with its landlord over a hugely discounted sublease it has been arranging for its Fifth Avenue store.
Fast-fashion chain Mango would pay Ralph Lauren a mere $5 million a year for the space, which costs the preppy retailer $27 million annually.
Workers will be lured back to the office, says Brookfield chief
Michael Mackenzie
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Investors are underestimating the speed and extent to which people will return to work in offices and head back to shopping malls as the pandemic subsides, according to the head of Brookfield Asset Management.
Bruce Flatt, chief executive of the Canadian investment group, is preparing to complete a $5.9 billion deal to delist Brookfield’s property arm amid frustration that the equity market does not recognise the value of Brookfield’s vast real estate portfolio.
Bruce Flatt, chief executive officer of Brookfield Asset Management.
Bloomberg
Highlighting the return of office workers in Shanghai, Dubai and Australia as a sign of things to come, Mr Flatt said: “Clearly there are differing views about real estate securities. Some people think people won’t go back to the office and that retail will be done online.”
Belk’s major lenders such as KKR and Blackstone are discussing how to prevent the major department store chain from bankruptcy, according to the Wall Street Journal.
End of the office is overstated, says Brookfield boss
Brookfield Property Partners, which owns the Canary Wharf Group, has announced plans to delist.
The end of the office has been overegged according to a top asset manager, as he claims investors are underestimating the extent to which people will return to work.
Speaking to the Financial Times, Bruce Flatt, chief executive of Brookfield Asset Management is hopeful that office workers will return to the office and shopping centres.
The Canadian investment group is planning to delist its property arm, Brookfield Property Partners, amid frustration that investors do not recognise the value of its portfolio.