Wednesday, August 25, 2010

Glazers fail to pay mortgage on four shopping malls



The four malls are in Houston, Texas; Denver, Colorado and two in Ohio. That means nine, or 13%, of the Glazers' malls are now "delinquent" or insolvent, and a further 29 centres, 43%, have so many units empty the rental income does not cover the mortgage payments.

No comments: