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...Our Core Retail portfolio consists of 110 million square feet across 109 best-in-class malls and urban retail properties across the United States....
...addition to its fee-based asset management business, Brookfield also owns a portfolio of real estate including London’s Canary Wharf, two of New York City’s largest office developments and more than 100 US malls...
...By contrast, the anchor tenant for the shopping mall, Neiman Marcus, was pushed into bankruptcy in 2020 by the Covid pandemic, leaving three abandoned floors....
...After a string of investments in the sector, Blackstone now earns money every time Justin Timberlake’s “SexyBack” plays in a shopping mall....
...In Los Angeles, demand for locations to shoot TV shows vastly outstrips supply: churches, abandoned malls, industrial warehouses and even a former Ikea store have been repurposed into production facilities...
...“Just by being on T-Mall, some 700m people have access to our products for the first time in China, making the sky the limit in terms of growth,” she said....
...In the winter, I gingerly slide on to the outdoor ice rink at the National Gallery of Art, encircled by glorious outsize creations in the Sculpture Garden beside the mall....
...Addressing the future of shopping malls, Mr Flatt said Brookfield and its tenants needed to do better and focus on combining online trading with a physical store presence....
...Brookfield Properties chief executive Brian Kingston told investors later that year that about 100 of the malls would be “future-proof[ed] . . ....
...Consider for example the case of Brookfield Asset Management’s (and funds it manages) $5.9bn buyout of the minority holders in Brookfield Property Partners (BPY), one of America’s biggest mall operators....
...Shopping mall operator Unibail-Rodamco-Westfield SE named Léon Bressler, a former chief executive of the group, as its new supervisory board chairman following the resignation of Colin Dyer....
Deal for group’s property arm imposes dividend restrictions as retail fallout grows
...Investors in BPY-U can compare its GAAP results to similar mall-centric companies, such as Taubman Centers or Simon Property....
...Xavier Niel: ‘We are not activists, but rather rebellious shareholders’ There are lots of losers in the battle at Europe’s largest mall operator, Unibail-Rodamco Westfield, and one big winner: telecoms...
...But Brookfield faces challenges ranging from looming debt maturities at its Covid-hit shopping mall unit and a Congressional probe into a 2018 Manhattan skyscraper deal with the family of Jared Kushner....
...One of America’s biggest mall operators, Simon Property Group, has closed all its US properties until March 29....
...Brookfield, the Canadian investment group that ranks among the biggest owners of American shopping malls, has also skipped payments on its mortgages and asked lenders for forbearance....
...BPY is best known for its investments in “trophy” office properties, such as Canary Wharf in London or Lever House in New York, as well as its “core retail” malls with storied tenants such as JC Penney....
...The Canadian asset manager Brookfield has also skipped payments on its shopping mall mortgages. But not everyone is licking their wounds....
...Its New York retail portfolio also includes a shopping mall at Columbus Circle....
...Bloomberg’s camp has said he will part with the business in the strongest indication yet that Bloomberg LP could be on the market soon (they’ve previously indicated he would put it in a blind trust)....
...These concentrated positions are characteristic of Mr Ackman, whose reputation was made on spectacular bets, such as a $60m investment in General Growth Properties, a bankrupt mall operator that Pershing...
...If the past is a foreign country, as British author LP Hartley memorably observed, then January 2020 might as well be a different universe....
...(FT) Brookfield skips payments while demanding tenants pay up Brookfield is chasing small retailers to pay thousands of dollars in rent on malls that were forced to close during the coronavirus pandemic...
...It’s not just retailers in weak shopping malls feeling the strain. Some of the best-known stores in and around New York, including Henri Bendel and Lord & Taylor, have closed in recent months....
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