If you want to gauge investor demand for suburban mall properties, head to Burnsville, Minnesota. Last week, a $63 million loan secured by about half of a 1 million square foot mall in the Minneapolis suburbs hit the auction block. The collateral backing the loan was valued at $137 million in 2010. When the auction started, the opening bid was $7 million. When the loan finally sold, the winning bid was just $17 million, or
source https://therealdeal.com/2020/11/05/mall-pocalypse-now-minnesota-mall-loan-sells-for-huge-discount/
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