Another Mag Mile landlord takes a hit – Crain’s

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.
4 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Robert L. Peters
1 year ago

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.

David F
1 year ago

Ouch

debtsor
1 year ago

Lori Lightfoot says: You’re welcome.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE