RCS Real Estate Advisors helped facilitate the agreement reached between Premium Brands and Lane Bryant and Simon Property Group to keep all Ann Taylor, LOFT and Lane Bryant stores located at Simon properties open.
“We are pleased to have played a key role for our clients Premium Brands and Lane Bryant by utilizing our long-standing landlord relationships to reach an agreement that is beneficial to both sides,” Ivan L. Friedman, president and CEO of RCS Real Estate Advisors, said.
Related to this agreement, a filing was made with the bankruptcy court on Feb. 18 to assume the leases involved. Furthermore, on Feb. 19, Simon withdrew its objection to the confirmation of the go-forward plan. Both actions were done to evidence the agreement that was reached.
Premium Brands is the owner and operator of the Ann Taylor and LOFT apparel brands. Lane Bryant is the owner and operator of the Lane Bryant apparel brand.