Macy ’s store closings could affect securitised commercial mortgages worth $ 3.64bn , according to Consumer Credit Ratings . In January , Macy ’s announced plans to close 36 stores , last week it increased the number by two . 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 backed by properties with direct exposure to Macy ’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 . Not all of the problems are confined to post-2010 loans. Some shopping centres , such as The Hudson Valley Mall in upstate New York , have run into problems resulting from Macy ’s closing anchor or shadow - anchor stores .
Macy ’s store closings could affect securitised commercial mortgages worth $ 3.64bn , according to Consumer Credit Ratings . In January , Macy ’s announced plans to close 36 stores , last week it increased the number by two . 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 backed by properties with direct exposure to Macy ’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 New York , have run into problems resulting from Macy ’s closing anchor or shadow - anchor stores .