An old adage says it is expensive to go broke. It sure was for mall owner General Growth Properties, which has been presented with a bill for $229.2 million in fees and $6.5 million in reimbursements.
It is spring selling season for U.S. mall landlords, with property giants Westfield Group, Simon Property Group and General Growth Properties marketing 40 malls across the country.
Developer Rick Caruso has struck the latest blow in the continuing battle between his Americana at Brand mall and General Growth Properties’ Glendale Galleria in California.