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Real-Estate Giant Reportedly Agrees to Foreclose on Bayshore Mall

Real-Estate Giant Reportedly Agrees to Foreclose on Bayshore Mall

Outpost file photo.

Brookfield Property Partners, the real-estate-management company that owns and operates the Bayshore Mall, has agreed to foreclose on the Eureka shopping center, Market Watch reports.

This news comes a month after the real-estate giant announced a $6.5 billion deal to take the company private.

Brookfield Property Partners “agreed to a ‘friendly foreclosure,’ or when a borrower willingly hands back a property to creditors,” the Market Watch article states.

It’s unclear what this news means for the Bayshore Mall’s future. For years, big-box stores have struggled to stay in business at the Palco-Marsh-adjacent property and at malls across the country — a problem that has only been exacerbated by the COVID-19 pandemic.

The Outpost will continue to follow this story as more information becomes available.

This content was originally published here.

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