Country Club Plaza FAIL Costs Nearly Quarter BILLION Bucks

Hidden in the depths of a paywall and out of sight of most locals . . . We liberate a not-so-fun fact that exemplifies an economic catastrophe confronting this cowtown. 

The basics . . .

COUNTRY CLUB PLAZA BLEEDS MONEY IN THE AFTERMATH OF COVID & SOCIAL JUSTICE RIOTS!!!

Most of us have understood this fact of life and we've come to understand that the death of retail is mostly to blame on Amazon.com.

However . . . The extent of the damage to local history & commerce is something that locals are going to have to deal with over the course of generations.

Here's a quick quote that helps explain a recent takeover in the works and the cash that has been wasted whilst Mayor Q protested and hundreds of "mostly peaceful" activists helped bring down a formerly iconic location. 

Check-it:

"The Macerich Co. realized a $107.7 million third-quarter loss from its share of impairment charges resulting from anticipated "shortened holding," or ownership, of the Plaza, according to a Tuesday earnings report. Because Macerich owns the Plaza through a 50-50 joint venture with Taubman Centers, that would equate to a $215.4 million loss for both partners."

Read more via www.TonysKansasCity.com link . . .

Country Club Plaza co-owner reports substantial loss stemming from anticipated 'shortened' ownership - Kansas City Business Journal

A revaluation of the Country Club Plaza after its $295.2 million loan default, and the probability of a shorter ownership period than anticipated, have led The Macerich Co. to report a $107.7 million loss on the property in its latest earnings report. The news reflects the company's first tacit acknowledgment that the Plaza will sell.