16 April 2009

Park Meadows Mall Owner Bankrupt

The owner of the Park Meadows Mall near the Denver Tech Center and three other malls has filed for bankruptcy. The Park Meadows mall is one of the newer and larger malls in the Denver metro area and has superficially seemed rather properous.

UPDATE: The REIT that owns Park Meadows also owns about 200 other malls, of which four are in Colorado including Park Meadows. On paper, the company is still a couple of bilion in the black, although its share price has dramatically dropped from north of $44 a share to the penny stock realm. The proposal is not supposed to change day to day operations -- this is primarily a reorganization of the long term financing of the asset rich and close to solvent company.


JayDenver said...

"General Growth, which owns and manages more than 200 malls, is the second-largest U.S. mall owner..."

Park Meadows may very well be profitable, but how many others of those 200 properties are?

Anonymous said...

Well, r u gonna tell us who is the owner? Yall r STUPID!!! dumb asses!!!

Ur Mama said...

Yeah they r right u are dumb asses god