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No. of Recommendations: 3
I took a look at BPR, I didn't like their debt load. They are carrying $12 B market cap and compared to the equity of $2 B. Lot of folks like them because of BAM, that is not a reason for me to get into something with such a huge debt load and in mall sector. There are many things that can go wrong.

On the other hand, BRX is a simple story with redevelopment fueled FFO growth and if the economy turns bad, they can switch off the redevelopment, the cost of failure is limited since a single location reinvestment's are < $10m, etc.

I sold most of what I bought around $14.5, I hold a core position.
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