Case | HBS Case Collection | March 2005 (Revised May 2006)

Buckingham Park

by Arthur I Segel and Joshua A. Katzin

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: Buildings and Facilities; Debt Securities; Investment; Real Estate Industry; New Hampshire;

Citation:

Segel, Arthur I., and Joshua A. Katzin. "Buckingham Park." Harvard Business School Case 205-085, March 2005. (Revised May 2006.)