It’s over for Starwood Capital Group’s U.S. mall portfolio. The real estate investment firm lost control of seven shopping centers after defaulting on Israeli bonds earlier this year, according to the Wall Street Journal. A ratings downgrade on the debt triggered a clause that allows bondholders to take control of the properties. Six parties — including Starwood — submitted bids for the portfolio back in May. A partnership between Pacific Retail Capital Partners and Golden
source https://therealdeal.com/2020/09/09/starwood-loses-control-of-us-mall-portfolio/
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