According to a report from KCP Research, Brookfield Property Partners have returned three malls to their creditors.
As part of a $6.5bn deal that will make it a private company, Brookfield Property Partners are returning three malls to their creditors. The malls in question are The Bayshore Mall in Eureka, California, the Florence Mall in Florence, Kentucky and the Pierre Bossier Mall in Bossier City, Louisiana.
The malls, which are now all back in the hands of their lenders, totalled a combined $175M of mortgage debt.
Seven other Brookfield Malls could all bear the same fate, with a combined total of $798M of debt, according to the same KCP research. The backing of the 10 malls was secured by Brookfield through commercial mortgage-backed securities.
