Companies are trying to renegotiate their office and retail leases — and in some cases refusing to pay. Landlords say strong companies are taking advantage of the crisis to try to get better deals. Simon Property Group, the biggest mall operator in the United States, this week sued Gap, the owner of retail chains that include Old Navy and Banana Republic, for nearly $66 million in unpaid rent for April, May and June. Landlords for hotels and retail space have been hit hardest by the virus and have begun to fall behind on the loans used to acquire or build properties.
Guest: Andrew Horowitz is the President and Founder of Horowitz & Company, a Registered Investment Advisor. He is also the host of The Disciplined Investor Podcast.
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~Commercial Real Estate Leases: Renegotiation & Refusing To Pay~
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