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Will Eastland Center Follow Northland to the Mall Graveyard?

May 23, 2015, 1:06 PM

Could Eastland Center be headed for doom, like Northland, which shut last month?

The Detroit News reports that Eastland Center could move into receivership after the mall owners apparently stopped paying on loans, court records show.

Attorneys representing the U.S. Bank National Association are asking a judge to appoint a receiver for the Harper Woods property.

In February, an Oakland County judge gave the green light for a court appointed receiver for Northland, who had asked for permission to shut the mall down. Ashkenazy Acquisition, which bought the mall in 2008 , defaulted on a $31 million payment last year. 

 


Read more:  The Detroit News


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