Their properties in Tucson are doing really well, mostly full, had some anchor meltdown which probably hurts but still most of the spots are rented. I read they’ve had 3 properties in Las Vegas on the market for years with no takers. If they don’t have the corporation structured right stuff like that can drag a company down hard, need to be able to cut off the losers.
They have $25B in debt, against $27B in assets.
Problem is, their balloon is about to come due, and nobody is lending.