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Case
| HBS Case Collection
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2006
(Revised from original 2005 version)
Buckingham Park
by
Arthur I Segel and Joshua A. Katzin
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Abstract
In September, 2004, Stephen Lebowitz, President of CBL, a $6 billion publicly traded shopping mall real estate investment trust (REIT) with over 70 million square feet, is considering acquiring 170 acres for a new retail development at a racetrack site in Southern New Hampshire. First, Stephen has to calculate the value of the land to make his bid based on current market conditions and local zoning. Next, Stephen has to consider how the public securities markets will react, good and bad, to a shopping center REIT doing a new development at this time.
Keywords: Fair Value Accounting;
Auctions;
Bids and Bidding;
Investment;
Corporate Strategy;
Financial Markets;
Risk and Uncertainty;
Risk Management;
Decision Making;
Asset Management;
Diversification;
Property;
Financial Services Industry;
United States;
Citation:
Segel, Arthur I., and Joshua A. Katzin. "Buckingham Park." Harvard Business School Case 205-085, May 2006. (Revised from original March 2005 version.)