Mall owners including () and (), the biggest in the U.S., are signaling they’re moving on from struggling retail centers as the economic rebound drives them to focus on the best-performing markets.
A $94 million loan on a South Dakota mall owned by Simon, the largest U.S. real estate investment trust, was transferred last month to a special servicer, which negotiates with landlords on behalf of bondholders. General Growth had three malls with loan-workout firms in the third quarter, and () handed over a loan on a mall in its hometown of Columbus, Ohio, to a special servicer in October.
