One of the nation’s largest malls has come to an agreement with its lender to stave off foreclosure. After temporarily closing due to the coronavirus shutdown, Palisades Center Mall owner Pyramid Companies risked defaulting on its $388.5 million CMBS loan. The loan fell into special servicing in April. But according to the standstill agreement detailed on Trepp, Pyramid on June 19 received a moratorium on debt service payments or reserve deposits until September 9. Pyramid
source https://therealdeal.com/2020/07/17/palisades-center-mall-operator-avoids-financial-calamity-for-now/
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