Sales at Cherry Hill Mall, Springfield Town Center, and Woodland Mall were up 10% year-over-year in May and 12-month comp sales grew 3% since the end of 2021, PREIT reported.
Located at Main and Main in top markets, Class A regional malls sit on valuable real estate -- and mall REITs are taking advantage of that to raise capital.
One of the nation’s top mall owners announced that it will redeem senior secured notes to be backed by 13 of its open-air centers and 91 high-demand outparcels.