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 well-known property in this market.
Centro’s big names in the Dallas area include Wynnewood Village in Oak Cliff. Regency has a couple of properties in East Dallas, and used to own Casa Linda.
How will this turmoil affect the way these companies manage their local properties? Will there be a domino affect? How will it affect other development plans, like the Lake Highlands Town Center?
