By the end of 2019, mall owner Starwood Property Trust defaulted on a $ 750 million loan he requested in 2014 that used MacArthur and three other malls as collateral. A valuation at the time put the four at $ 1.07 billion, according to information from Trepp LLC, which tracks commercial real estate and securitized mortgages. In December 2019, a new appraisal put their value at $ 366.7 million. By the time the loan matured, Starwood still owed more than $ 680 million. Wells Fargo was installed as a special duty loan officer and Jones Lang LaSalle was brought in to manage the mall. The ambitious plans introduced in early 2018 to expand the mall’s footprint on city-owned land to include a hotel, apartments, restaurants and entertainment have long been dormant.
We're still digging for changes in the all-new Android 12 Beta 1, but we've already spotted a minor tweak of...Read more