Starwood Capital Group finally lost control of its troubled regional mall portfolio this month, when trustees appointed by an Israeli court selected a partnership to take over the seven properties. While that joint venture has already begun strategizing about how best to revitalize those malls, the handover is not complete. The portfolio’s senior lenders in the U.S. must still approve the deal, creating uncertainty for an already complicated transaction. Maneuvering over the retail properties that
source https://therealdeal.com/2020/09/28/last-bidder-standing-has-big-plans-for-starwoods-troubled-mall-portfolio-but-first-creditors-must-sign-off/
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