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Icahn’s ‘Beautiful Trade’ Pays Off Early With Malls Shut

  • Billionaire among investors shorting mall-heavy CMBX 6 index
  • Overdue commercial mortgages mount as pandemic slams economy
Bloomberg business news
Billionaire Carl Icahn on Investments, CMBX 6 Short, Oil Buy
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Eastview Mall, 14 miles southeast of downtown Rochester, New York, was a rare bright spot among regional shopping centers.

A fixture in the area for almost 50 years, it served a thriving community, with jobs in health care and at the nearby university. And it had so far managed to survive the trends that were killing off other malls: the relentless rise of online shopping, over-leveraged retail chains and shifting populations.