One of the U.S.’s largest shopping malls missed another payment on a
$1.4B on mortgage and puts the borrower more than 60 days past due,
Bloomberg reports, citing people with knowledge of the matter.
The failure to make its ~$7M debt payment for June is its third straight month of missed payments on the property.
The 5.6M square-foot property, owned by closely held Triple Five
Group, partly reopened on June 10 with reduced capacity at its
restaurants and movie theaters.
Its indoor theme park remains closed.
The Ghermezian family owns all three of North America’s largest
shopping centers. Their American Dream mall, which features an indoor
ski slope and a water park, in New Jersey hasn’t yet fully opened.
https://seekingalpha.com/news/3583518-mall-of-america-misses-debt-payment-for-third-month-bloomberg
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