American Dream, the troubled $5 billion mall and entertainment complex in New Jersey’s Meadowlands, faces a demand for at least $389 million on defaulted debt from junior lenders.
The entity that filed the suit in New York Supreme Court is an administrative agent appointed by firms linked to Western Asset and South Korea’s Nonghyup Bank, court documents show.
The New Jersey mall broke ground in 2004 but was beset by financing troubles under a series of owners. It was later opened by the Ghermezians, whose fortune is built in part on retail, mere weeks before the pandemic hit, forcing it ...
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