Malls Are in Trouble Again, Offices Are Next
The big real estate short is spreading to offices from shopping malls
Signage stands outside the American Dream complex in East Rutherford, New Jersey, U.S., on Thursday, Aug. 29, 2019.
Photographer: Gabby Jones/BloombergWelcome to The Brink, where Bloomberg’s reporters bring you all the latest on the world of distressed debt, bankruptcies and corporate blowups — from FTX to Bed Bath & Beyond — as well as the businesses that dodged collapse. I’m Erin Hudson, a reporter in New York, where shopping malls are in trouble again and investors are starting to short offices. We also have more on Adani and Credit Suisse. Follow this link to subscribe. Send us feedback and tips at ehudson26@bloomberg.net or Tweet/DM to @EK_Hudson.
In New Jersey, lenders to the American Dream mall are heading to court, demanding a $389 million payment on their defaulted debt.