Who and why are they buying shopping malls? Interesting. [View all]

[empedocles]

" . . .So now, Simon and Brookfield, as well as other mall REITs, are buying retailers out of bankruptcy court to keep the stores open so that they can pay rent and fill the otherwise vacant space, and create some foot traffic and attract a few shoppers for the other stores, so that they too can keep paying rent, and keep the mall from turning into another zombie mall.
If Simon and Brookfield hadn’t stepped in, J.C. Penney might have been liquidated. This would have caused the loss of the 60,000 or so remaining jobs and the closure of about 650 remaining stores – down from about 90,000 jobs and 800 stores before it filed for bankrupt . . . "

https://wolfstreet.com/2020/11/11/why-simon-property-group-brookfield-property-1-2-mall-landlords-bought-jcpenney-other-collapsed-retailers-out-of-bankruptcy/