Report: Mall Of America Missed Mortgage Payments For April And May
Coronavirus: Latest News | Community Resources | COVID-19 Info | Download Our App | CBSN Minnesota|
MINNEAPOLIS (WCCO) -- The Mall of America has reportedly missed mortgage payments for April and May.
Bloomberg reported Thursday that the biggest shopping center in the country missed two months of payments for a $1.4 billion commercial mortgage-backed security.
The mall, located in Bloomington, closed on March 17 in response to the COVID-19 outbreak.
While malls in Minnesota were allowed to reopen this week, the Mall of America is waiting until June 1 to reopen its doors so that its tenants can prepare a new shopping experience.
Earlier this month, the Mall of America asked state lawmakers for help for financial difficulties stemming from the outbreak. However, the city of Bloomington was against the idea.
CONTACT US: Do you have a story about the COVID-19 pandemic to share with us? Please contact us here.
