Acadia Realty Trust recorded a $50.8 million non-cash impairment charge on its ownership stake in a building across from Water Tower Place mall, according to the real estate investment trust’s third-quarter earnings report. The write-down follows the recent decision by Swedish apparel chain H&M to move out of the building when its lease expires next August.
I think they already moved out to their new location. May still be paying rent or bought out their lease. Empty storefront is not good for the building.
Hello, Indiana!
1 year ago
But the buildings will eventually make lovely Section 8 condos for the underserved.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
I think they already moved out to their new location. May still be paying rent or bought out their lease. Empty storefront is not good for the building.
But the buildings will eventually make lovely Section 8 condos for the underserved.
Ouch
Lori Lightfoot says: You’re welcome.