1. Activist Bets That Office Landlords Face a Tough Post-Covid Reset

    Activist Bets That Office Landlords Face a Tough Post-Covid Reset

    Get ready for an office real-estate reset. At least, that’s what activist investor Jonathan Litt of Land & Buildings , known for agitating for change at Taubman Centers and now-private Hudson’s Bay, expects. Litt has reportedly been betting against stocks of New York City office landlords now that expensive, densely populated urban centers have lost some luste r. “The genie is out of the bottle—you can’t put it back in,” Litt tells Barron’s , adding that he expects lower valuations and rents as owners navigate through the pandemic. “Stay alive until 2025,” he quips. Last week Litt ...

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