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Author Topic: Simon lists several malls as "other properties"  (Read 167 times)
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retailisking
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« on: February 02, 2018, 08:36:20 AM »

It's not immediately clear what the significance of this listing is, but Bangor Mall and Independence Center have been in the news for non-payment of property-backed loans

Bangor Mall
Calhoun Outlet Marketplace
Circle Centre
Florida Keys Outlet Marketplace
Gaffney Outlet Marketplace
Independence Center
Lebanon Outlet Marketplace
Liberty Tree Mall
Liberty Village Outlet Marketplace
Lincoln Plaza
Orlando Outlet Marketplace
Osage Beach Outlet Marketplace
Philadelphia Mills
Sugarloaf Mills
https://htv-prod-media.s3.amazonaws.com/files/spg-q4-2017-supplemental-pdf-1517438305.pdf
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esw01407
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« Reply #1 on: February 02, 2018, 08:59:19 AM »

Speculation, but probably either going back to the bank, some sort of sale, or some other arrangement has been made. Bangor Mall seems to be the strong hint of a return.
« Last Edit: February 02, 2018, 09:06:10 AM by esw01407 » Logged
danfifepsu
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« Reply #2 on: February 02, 2018, 09:20:44 AM »

Speculation, but probably either going back to the bank, some sort of sale, or some other arrangement has been made. Bangor Mall seems to be the strong hint of a return.

what you mean of a return?
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esw01407
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« Reply #3 on: February 02, 2018, 09:27:36 AM »

Speculation, but probably either going back to the bank, some sort of sale, or some other arrangement has been made. Bangor Mall seems to be the strong hint of a return.

what you mean of a return?

Returning it to the bank as the loan is so far underwater it could never be paid off.
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danfifepsu
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« Reply #4 on: February 02, 2018, 09:48:39 AM »

Speculation, but probably either going back to the bank, some sort of sale, or some other arrangement has been made. Bangor Mall seems to be the strong hint of a return.

what you mean of a return?

Returning it to the bank as the loan is so far underwater it could never be paid off.

I wonder what will happen to the Bangor mall as it appears at least 20 empty stores there plus MAcys vacant, SEars closing.
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TheFugitive
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« Reply #5 on: February 02, 2018, 12:25:04 PM »

That's pretty much what they did with Century III.
Put it on course to hand the keys back to the bank and sold it
for ten cents on the dollar just ahead of the Sheriffs Sale.
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retailisking
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« Reply #6 on: February 07, 2018, 03:37:18 AM »

One of the malls on the list, Independence Center, is headed for the auction block
http://www.kansascity.com/news/business/article198643414.html
« Last Edit: February 07, 2018, 05:10:17 AM by retailisking » Logged
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