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Mall Owners Pennsylvania REIT and CBL File for Chapter 11

Two Shopping Center Owners Seek Court Approval to Restructure Debts
Pennsylvania REIT, owner of the Springfield Town Center in Springfield, Virginia, is one of two REITs looking to bankruptcy court to support the firm's restructuring plan. (CoStar)
Pennsylvania REIT, owner of the Springfield Town Center in Springfield, Virginia, is one of two REITs looking to bankruptcy court to support the firm's restructuring plan. (CoStar)
CoStar News
November 2, 2020 | 12:12 P.M.

Just as the holiday shopping season swings into gear, two major shopping center and mall real estate investment trust have succumbed to the hardships retailers are facing after the pandemic forced many businesses to close and led to a rapid and massive shift in consumer spending.

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