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Lenders Are Seizing Equity Stake in Minnesota’s Mall of America

Mall Of America Reopens After Delays Following Protests
Photographer: Emilie Richardson/Bloomberg

Lenders are seizing minority stakes in Minnesota’s Mall of America and another massive shopping center that were used as collateral for debt on the long-troubled American Dream project in New Jersey.

Developer Triple Five Worldwide had pledged 49% of its equity stakes in Mall of America and the West Edmonton Mall in Canada as collateral for the $5 billion shopping and entertainment center located west of Manhattan in East Rutherford.