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Coverage
Analyses on Propert.& BUIL. (5)
- May 21, 2026
- May 14, 2026
- February 20, 2026February 20, 2026
- Follow-up
Property & Building: What Series 12 and 13 Really Say About Parent-Level Funding Flexibility
Series 12 and 13 say that the debt market is still open to Property & Building at the parent level, but not on a loose-optionality basis. Any achievable funding comes with a thicker equity buffer, tighter distribution rules, and pricing that starts worsening earlier if the paren…

- Follow-up
10 Bryant: When the Repositioning Starts Showing Up in NOI and Cash
At 10 Bryant, the repositioning is already visible in leases and valuation, but not yet in NOI and cash. The gap is being driven by a long free-rent period, large TI and upgrade commitments, and a possible payment to Amazon in a sale.

Property & Building in 2025: Gav-Yam Is Strong, 10 Bryant Improved, but Financing Still Caps the Story
Gav-Yam is stronger, 10 Bryant is better, but value for Property & Building shareholders still depends on financing, upstream Gav-Yam dividends, and the ability to convert the tower’s repositioning into accessible cash.

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