The Miami-based company that bought several former Macy’s stores at auction last December, including at the Bangor Mall, has kept mum on its plans for the properties, but new details are emerging. Read More
The city has put off making a decision over whether to give a tax break to the Bangor Mall pending more information, while at the same time a foreclosure on the mall appears to have been delayed. Read More
Simon has asked the city to drastically lower the appraised value of the mall, which would halve the $1.4 million in property taxes that it pays for this tax year. Read More
Some potentially good news for the Bangor Mall came from its owner Friday, when executives told securities analysts they want to keep malls with good cash flow rather than sell them. Read More
A recent Morningstar Credit Ratings report valued the Bangor Mall at only $66.6 million and estimated that Simon has a 50 percent chance of defaulting on the loan. Read More