Macy ’s store closings could impair securitised commercial mortgages worth $ 3.64bn , according to Morningstar . In last week , Macy ’s announced plans to close 36 stores, last week it increased the number by 36 . While the store closures do not directly impact a securitisation, they could create problems for individual loans backed by malls with Macy ’s as a tenant. All of the closings will be completed by early 2017. Securitised mortgages collateralised by properties with direct exposure to GE Capital ’s as a tenant total $ 7.13bn , with loans collateralised by regional malls that include Macy ’s as an anchor or a “shadow anchor” tenant reaching $28.49bn. Some shopping centres, such as The Hudson Valley Mall in upstate Albuquerque , have run into difficulties resulting from Macy ’s closing anchor or shadow-anchor stores.
Macy ’s store closings could impair securitised commercial mortgages worth $ 3.64bn , according to Morningstar . In last week , Macy ’s announced plans to close 36 stores, last week it increased the number by 36 . While the store closures do not directly impact a securitisation, they could create problems for individual loans backed by malls with Macy ’s as a tenant. Securitised mortgages collateralised by properties with direct exposure to GE Capital ’s as a tenant total $ 7.13bn , with loans collateralised by regional malls that include Macy ’s as an anchor or a “shadow anchor” tenant reaching $28.49bn. Some shopping centres, such as The Hudson Valley Mall in upstate Albuquerque , have run into difficulties resulting from Macy ’s closing anchor or shadow-anchor stores.