Troubled San Francisco Centre mall loses $1 billion in value

https://www.sfgate.com/local/article/sf-centre-mall-value-loss-18611485.php

"A December appraisal by research firm Morningstar places the mall’s current value at $290 million, according to The Real Deal. That’s a massive haircut amounting to a nearly $1 billion decrease from its 2016 value of $1.2 billion.

The mall’s troubles reached a peak when Westfield and partner Brookfield Properties turned the property over to their lender in June 2023, defaulting on a $558 million loan. The former mall operators blamed decreased sales and low foot traffic for their departure..."