Jaime Sturgis is quoted in a new article published by Wealth Management (formerly National Real Estate Investor) about mall giant Simon Property Group’s decision to launch a special purpose acquisition company, or SPAC. Simon hopes to raise $300 million to invest in disruptive retail businesses.
What Will Simon Property Group Do with Its SPAC?
Industry insiders say likely logistics companies and e-commerce operators would be likely acquisition targets.
“No matter which path the Simon SPAC picks, commercial real estate broker Jaime Sturgis, CEO of Fort Lauderdale, Fla.-based Native Realty, says this move enables the REIT to diversify at a time when malls are struggling.”