News | Top-tier malls are faring better — but debt deadlines can still bite
While top-tier U.S. malls are experiencing improved occupancy, rents, and net operating income, many malls outside this category face significant challenges with refinancing debt maturities. Several major mall owners, including Simon Property Group, Brookfield, and Pacific Retail Capital Partners, are grappling with loans moving to special servicing or facing downgrades as debt deadlines approach, highlighting ongoing pressures in the commercial mortgage-backed securities market. Despite some successful refinancings for premium assets, even well-capitalized landlords are not immune to these issues, with some loans missing maturity dates and others requiring extensions.
https://www.costar.com/article/308684516/top-tier-malls-are-faring-better-but-debt-deadlines-can-still-bite