Some mall owners have given up trying to revive their struggling malls and pay off their debt payments and are now seeking to hand over the keys to their servicers. Brookfield Properties and Namdar Realty are separately requesting they be allowed to give up their J.C. Penney-anchored malls to special servicers to avoid loan foreclosure, according to Trepp. The action is known as a “deed-in-lieu.” Brookfield is over 90 days past due on its $90
source https://therealdeal.com/2020/09/23/brookfield-and-namdar-plan-to-hand-over-keys-to-struggling-malls/
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