The initial public offering announced by Taubman Co. this week may, as touted, open up a new capital market for real estate developers.

But a closer look shows that after being taken public, the shopping mall operator will still rely on old-fashioned bank loans for expansion, acquisitions, and operating capital.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.