American Dream mall extends debt maturity
What: The American Dream mall in New Jersey has secured a deal with credit lenders that will provide a four-year extended debt maturity.
Why it is important: American Dream, the massive shopping and entertainment centre in New Jersey, has been struggling financially since the pandemic having missed an 8.8-million-dollar debt payment and lost 60 million dollars in 2021 due to expenses beyond its rent revenue.
The announcement of the financing deal comes with hopes that success will follow and allow for a recovery following its ill-timed opening in 2020 and the mass layoffs and missed mortgage payments which followed.
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