Urban Shopping Center: This Company was a real estate investment trust that was founded in Chicago, Illinois it was a very large REIT and catered to the needs of retail centers and shopping malls all over the country. The company did most of its business through 1968-2000 where it made hundreds of acquisitions and developments; the company was still based in Chicago where it held the bulk of its properties and developments.
Most of the company’s income was generated through rental income in fact rental income accounted for 95% of the company’s earnings in 1999 the other 5% was made up of interest and other assorted charges and developments.
Urban Shopping Center INC was a REIT meaning that it was taxed as one, 90% of the profits are not taxed as they are given to the shareholders and investors rather than kept by the company itself.
The company also invested in other developments such as sugar cane in Hawaii and the Liberty house department’s stores. This company at the peak of its operation was one of the largest of its kind, and perhaps the best at what it did, as well. It was worth billions of dollars and made million dollar transaction almost weekly.
IN late 2000 the company had seen low stock prices and a falling economy, creating the perfect storm for a REIT to go bankrupt, instead the company was sold to Rodmaco North America for $3.4 billion dollars, a very large transaction for the company, at that time Urban Shopping Center had 2,200 employees working for them, most of which kept their positions following the sale.
Urban Shopping Center had malls in 4 states that were later divided and sold separately to the Rouse Co., Simon property group and Westfield holdings, this meant that the company’s portfolio was no longer together and the company was then dissolved.
Urban Shopping Center was a company that thrived in the real estate boom of the 1980s and 1990s but struggled to make things work when the confidence of the investors took a drastic shift, this was the perfect time to sell and Urban Shopping Center INC knew that, they paid off shareholders and made a profit while getting out of the REIT market before the market collapsed.
Urban Shopping Center owned or half owned some of the largest shopping centers in the USA such as the Westfield San Francisco center based in California.
Urban Shopping Center INC is no longer a publicly traded company, and its NYSE symbol has been taken by another public company creating a long line of public companies that have fell by the wayside.
Urban Shopping Center: This Company was a real estate investment trust that was founded in Chicago, Illinois it was a very large REIT and catered to the needs of retail centers and shopping malls all over the country. The company did most of its business through 1968-2000 where it made hundreds of acquisitions and developments; the company was still based in Chicago where it held the bulk of its properties and developments.
Most of their income was generated through rental income in fact rental income accounted for 95% of the company’s earnings in 1999 the other 5% was made up of interest and other assorted charges and developments.
Urban Shopping Center INC was a REIT meaning that it was taxed as one, 90% of the profits are not taxed as they are given to the shareholders and investors rather than kept by the company itself.
The company also invested in other developments such as sugar cane in Hawaii and the Liberty house department’s stores. This company at the peak of its operation was one of the largest of its kind, and perhaps the best at what it did, as well. It was worth billions of dollars and made million dollar transaction almost weekly.
IN late 2000 the company had seen low stock prices and a falling economy, creating the perfect storm for a REIT to go bankrupt, instead the company was sold to Rodmaco North America for $3.4 billion dollars, a very large transaction for the company, at that time Urban Shopping Center had 2,200 employees working for them, most of which kept their positions following the sale.
Urban Shopping Center had malls in 4 states that were later divided and sold separately to the Rouse Co., Simon property group and Westfield holdings, this meant that the company’s portfolio was no longer together and the company was then dissolved.
Urban Shopping Center was a company that thrived in the real estate boom of the 1980s and 1990s but struggled to make things work when the confidence of the investors took a drastic shift, this was the perfect time to sell and Urban Shopping Center INC knew that, they paid off shareholders and made a profit while getting out of the REIT market before the market collapsed.
Urban Shopping Center owned or half owned some of the largest shopping centers in the USA such as the Westfield San Francisco center based in California.
Urban Shopping Center INC is no longer a publicly traded company, and its NYSE symbol has been taken by another public company creating a long line of public companies that have fell by the wayside.
