The Real Deal - New York Real Estate News

Mall short-sellers see a big payout from Nevada mall auction

Posted: 30 May 2021 06:00 AM PDT

A big payout has arrived for investors who shorted a retail-heavy commercial real estate debt index. A loan on the Prizm Outlets mall outside Las Vegas realized a 120 percent loss after the property sold at auction for just over $400,000, according to Bloomberg News. The buyer was not revealed, but New York-based Kohan Retail Investment Group now lists the property on its website. The total realized loss for the $62.2 million loan, accounting for