“The idea that stores are dead has been proven to be a fallacy,” said Michael Baker, an analyst for D.A. Davidson who has covered U.S. retailers for over two decades.

Estating allows qualified investors to participate in direct real estate investment from their securities accounts.

Los Angeles-based CommonWealth Partners bought the 697,958-sq.-ft. building.

The REIT will purchase 81 outdoor shopping centers spanning 9.5 million sq. ft. from subsidiaries of CIM Real Estate Finance Trust.

The investment fund manager used to focus on value-add multifamily. Then it discovered the play no longer made sense.

Nationwide data show that much of the debt that’s being sold never should have existed in the first place.