Consortium of Simon Property, Brookfield Property, others bid $81 million for Forever 21, Retail News, ET Retail

Davida Erdahl

A consortium of prospective buyers, together with shopping mall homeowners Simon Residence Group and Brookfield Residence Partners, is bidding $eighty one million for Forever 21, the ubiquitous shopping mall staple that filed for individual bankruptcy security in September.

Simon and Brookfield are Forever 21’s most significant landlords. The other bidder is Genuine Brands Group, which has acquired the licensing legal rights to other troubled stores like Barneys New York.

In 2016, Simon and shopping mall operator Standard Advancement Qualities, which is now owned by Brookfield Residence Partners, teamed up to preserve having difficulties teen clothing retailer Aeropostale, which was in individual bankruptcy. Simon’s Chairman and CEO David Simon advised buyers during an earnings phone very last year that Simon was seeking at other probable bankrupt stores.

Mark Hunter, running director foremost CBRE’s shopping mall management and leasing business in the Americas, states that Simon and other individuals are striving to

Read More