How the Ghermezian family, owners of biggest malls in the US, made good on the American Dream
“The point ultimately is that the Ghermezians built this beautiful asset, this Vegas-style property,” Shlomo Chopp, managing partner at Case Equity Partners, said. “But are there going to be enough retailers to go in there, and enough consumers to pay the price?”
“Ultimately, I expect that if there is an improvement in operations but not sufficient enough to refinance out, that they are going to try to do a significant extension that is going to turn this into a permanent loan because they see a trajectory to eventually getting out,” Chopp speculated. “For better or for worse, the lenders are partners with Triple Five.”