American Dream Mall Gets Debt Extension From JPMorgan-Led Group

The American Dream megamall in New Jersey received a four-year extension on some of its debt from lenders led by JPMorgan Chase & Co., buying more time for the beleaguered shopping and entertainment center to execute a turnaround.

The new debt matures in October 2026, according to a statement Monday. It comes after senior mezzanine lenders foreclosed on an equity interest in the mortgage borrower and owner of the mall, effectively stripping junior lenders including Western Asset Mortgage Capital Corp. of their collateral, according to a regulatory filing from the mortgage real estate investment trust last week.

Further terms of ...