CCRGF - Spending 55% Of The Net Rental Income On Interest Creates A Serious Problem: Intu Properties
Introduction
My attention was drawn to Intu Properties (OTCPK:CCRGF) a few months ago as the company was involved in a tough consolidation battle in the mall space. Klépierre (OTCPK:KLPEF), a large French REIT which I discussed last week in this article, tried to acquire Hammerson (OTCPK:HMSNF) another British mall operator. Hammerson wasn’t too interested in accepting the offer, as it was trying to get its hands on Intu Properties. Just a few weeks after Klépierre openly courted Hammerson, Klépierre walked away, and Hammerson’s deal to acquire