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Mega-mall developer reportedly misses third mortgage payment on Mall of America 

Mall of America

Triple Five Group is navigating some tough times.

The Canadian mall developer failed to pay its roughly $7 million payment for June on a $1.4 billion mortgage on Mall of America, reported, which cited a report by Bloomberg. The mall was used as collateral when Triple Five secured $2.8 billion in financing for American Dream, the long-delayed, 70-acre entertainment/retail center in East Rutheford, N.J., the report said.   

American Dream opened a few attractions, including the Nickelodeon Universe theme park, an ice-skating rink and the first-ever U.S. indoor ski slope,  before the pandemic struck and it had to go dark.   

 “American Dream is working with its tenants and operational partners to reopen safely and quickly,” a spokesperson for the mall said in the report. 


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