What type of retail format leases directly to manufacturers, tends to be located outside of urban areas so that shoppers access it by cars, and may offer over-supply of goods or cast off goods? Woodbury Commons is an example.

		Factory outlet centers
		Enclosed malls
		Distribution centers
		Grocery anchored shopping centers

As we studied in the first half of the semester, publicly traded REITs are requrired to have 75% of their assets invested in real estate, and derive 95% of gross income from rents. This means that regulators want REITs to focus on real estate and not delve into non real estate lines of business. Due to the Covid crisis, a lot of tenants are struggling to pay rent. This creates a situation for a negotiation of existing lease terms between the REIT and the tenant. Say your REIT owns a retail center and PetCo is one of your tenants and they are behind with their rent. PetCo offers the REIT an equity interest in its company in exchange for forgiveness of past due rent and lower rents moving forward. Due to the aforementioned regulations that govern publicly traded REITs, is this a negotiation option that REITs can use without limit?

True

False

A lot of articles have been written recently about the death of retail and there certainly have been a lot of stores closures in the news. Bricks and mortar retail was under pressure from e-commerce prior to Covid and Covid seems to have accelerated change in the sector. Many Class B and C malls are now obsolete and being converted to new uses. But another way to look at this is that the retail sector has always been evolving - that the Sear's mail order catalog disrupted Main Street retail in its day - and that retail will always exist except that new formats and retail concepts will arise to meet the needs of the present environment.

True

False