The Shops at Aura, a shopping mall in downtown Toronto that sorely lacks traffic, has taken lots of abuse from the Canadian press for under-delivering to its retail tenants.
Macerich has sold 95% of its interest in the Paradise Valley Mall in Phoenix and will retain 5% to work on its town center redevelopment with PV RE Devco in a partnership called RED Development.
Bankers are reportedly set to take a minority stake in the two largest malls in North America after their owner defaulted on its massive, 3.3 million-sq.-ft. retail and entertainment development in New Jersey.
