Lenders seize minority stake in Mall of America

Lenders are taking minority stakes in Minnesota’s Mall of America, a massive shopping mall that was used as collateral for the American Dream Mall in New Jersey. Triple Five Worldwide, the developer of the American Dream project, has pledged 49 percent of its equity stakes in Mall of America and the West Edmonton Mall in Canada as collateral for 5 billion dollar East Rutherford, New Jersey project. The news was reported by Bloomberg.