OT: American Dream Mall secures financing through 2026

[rutgersdave]

American Dream’s owner secures financing through 2026 with group led by JP Morgan

Triple Five, the owner and operator of American Dream, has secured financing for four years with a group led by JP Morgan.

www.nj.com

Triple Five, the owner and operator of American Dream, has secured financing for four years with a group led by JP Morgan.

“American Dream’s success continues to grow with dramatically increasing traffic and spend at the complex,” Don Ghermezian, president and CEO of American Dream, said in a statement provided to NJ Advance Media. “We are pleased that our lenders, led by JP Morgan, share in our vision and recognize Triple Five and American Dream’s successful and impactful contribution to the global retail and entertainment landscape.

I guess the mall will be around for several more years against the wishes of certain board posters.

 

[WhiteBus]

 

[tico brown]

It will take Rutgers decades to cost what this outdated mall has cost the state. But everything in NJ is always Rutgers fault.

 

[DJ Spanky]

As long as it's private money being shoveled into that money pit I don't care.

 

[mdk01]

As long as it's private money being shoveled into that money pit I don't care.

The article is behind a pay wall so I couldn't tell, has NJ given any sort of guarantee on these loans?

And now that it looks like there is going to be congestion pricing for entering Manhattan I wonder if more people will stay in NJ for their entertainment/shopping

 

[T2Kplus20]

American Dream’s owner secures financing through 2026 with group led by JP Morgan

Triple Five, the owner and operator of American Dream, has secured financing for four years with a group led by JP Morgan.

www.nj.com

Triple Five, the owner and operator of American Dream, has secured financing for four years with a group led by JP Morgan.

“American Dream’s success continues to grow with dramatically increasing traffic and spend at the complex,” Don Ghermezian, president and CEO of American Dream, said in a statement provided to NJ Advance Media. “We are pleased that our lenders, led by JP Morgan, share in our vision and recognize Triple Five and American Dream’s successful and impactful contribution to the global retail and entertainment landscape.

I guess the mall will be around for several more years against the wishes of certain board posters.

JP Morgan won't be happy when they start missing payments. AD is already half dead. Fully dead in a few years. RIP!

 

[T2Kplus20]

It will take Rutgers decades to cost what this outdated mall has cost the state. But everything in NJ is always Rutgers fault.

RU should have stopped it long ago!

 

[RUhasarrived]

A baseball stadium for the Rays would have made much more sense.

 

[RUhasarrived]

A baseball stadium for the Rays would have made much more sense.

 

[NickRU714]

My kids will be at Nickelodeon Universe on Saturday for the 2nd time in like 2 months.
They love that place.

We haven't gone yet ourselves. My aunt and cousin take them.

 

[NickRU714]

A baseball stadium for the Rays would have made much more sense.

A lot of duplicate posts happening on here across threads. I just almost got caught with it.
Your text posts but then still shows up in the bottom as a draft.

 

[mdk01]

A lot of duplicate posts happening on here across threads. I just almost got caught with it.
Your text posts but then still shows up in the bottom as a draft.

Yup.

 

[BlockR]

Yup.

There's a problem with site

 

[gman500]

 

[T2Kplus20]

Hope this dump has good insurance (which is probably doesn't). Sad story:

National Guard airman dies snowboarding at American Dream mall’s Big Snow slope

Airman First Class Peter R. Mathews, of Bayshore, New York, was with his sister at the Big Snow indoor park in East Rutherford, when he fell while snowboarding last week.

www.nj.com

 

[Joey Bags]

What is the incentive to dump private money into a literal shredder? Who wants to deploy their capital into this thing?

 

[bac2therac]

Bulldoze it

 

[Section124]

Hope this dump has good insurance (which is probably doesn't). Sad story:

National Guard airman dies snowboarding at American Dream mall’s Big Snow slope

Airman First Class Peter R. Mathews, of Bayshore, New York, was with his sister at the Big Snow indoor park in East Rutherford, when he fell while snowboarding last week.

www.nj.com

#RIP. My guess is that he was not wearing a helmet. It's on him if not.

 

[fsg2]

Are helmets required?

Not sure why it'd be on him, otherwise.

 

[Saint Puppy]

Was there a few months ago - about 1/3 of the mall has empty stores. They are trying to make this more of an adventure destination - Nickelodeon Water Park, Mini Amusement Park, Ski Slope, Aquariam - along with some other adventure stuff too amongst regular mall stores and food court. I think this mall/site has been what it's always been - a dead man walking. Amazing that someone different always willing to throw money at what has been a Raging Cash Furnace for literally decades now!

 

[Section124]

Are helmets required?

Not sure why it'd be on him, otherwise.

NJ law only requires under 18 to wear a helmet. Their rental packages provide a helmet. The article doesn't say whether he was wearing one which leads me to believe he didn't have one on. The indoor surface is pretty hard just like most ski trails in the east. It's why we are the "Ice" coast and why you should always wear one while skiing/boarding.

 

[RU#1fan]

#RIP. My guess is that he was not wearing a helmet. It's on him if not.

Sad story.
You must wear a helmet..snowboarding, skate boarding, etc

 

[Knight Shift]

One step up, ten steps back.

American Dream sued for $389 million by lenders who helped bankroll mall's construction

The two creditors sued in New York State court last week, alleging breach of contract by the owners of the Meadowlands complex.

www.app.com

 

[e5fdny]

A baseball stadium for the Rays would have made much more sense.

The one that could have gone there was supposed to look like the Royals Stadium but a little bigger.

 

[LotusAggressor]

They're going to need a lot more fuel.for the fire to burn all this money.

 

[T2Kplus20]

One step up, ten steps back.

American Dream sued for $389 million by lenders who helped bankroll mall's construction

The two creditors sued in New York State court last week, alleging breach of contract by the owners of the Meadowlands complex.

www.app.com

Time to close this dump.

 

[Knight Shift]

Time to close this dump.

IDK the calculus for sunk costs on a sinking (or sunken) ship and when to pull the plug. Project has been snakebitten from day one.

 

[T2Kplus20]

IDK the calculus for sunk costs on a sinking (or sunken) ship and when to pull the plug. Project has been snakebitten from day one.

Agreed. The idea was cursed from the start by Zoffinger.

 

[Knight Shift]

Agreed. The idea was cursed from the start by Zoffinger.

Can say this much. It looks better than the early stages of when it was Xanadu. A guy here at work went there with the family/little kids not long ago, and they said it was pretty decent. No gunfire that day was a plus.

 

[RutHut]

https://www.nbcnewyork.com/news/loc...er-falls-at-nj-water-park-injuring-4/4112637/

 

[Source]

 

[Knight Shift]

Article behind paywall. But why not spend billions more?

 

[T2Kplus20]

https://www.nbcnewyork.com/news/loc...er-falls-at-nj-water-park-injuring-4/4112637/

Close this dump. Very dangerous place.

 

[T2Kplus20]

Article behind paywall. But why not spend billions more?

View embedded media

Double down on dumb. The NJ way.

 

[iReC89]

Can say this much. It looks better than the early stages of when it was Xanadu. A guy here at work went there with the family/little kids not long ago, and they said it was pretty decent. No gunfire that day was a plus.

We went in a no gun fire day also. It was better than expected. I paid for parking at the kiosk and they took my money but the gate went up without even putting my ticket in so thanks a bunch for the free parking. Glad to get there during the soft open decade.

 

[MulletCork]

Fun place to go if you enjoy throwing hands and dodging shanks. Low cost workout.

 

[pmvon]

One step up, ten steps back.

American Dream sued for $389 million by lenders who helped bankroll mall's construction

The two creditors sued in New York State court last week, alleging breach of contract by the owners of the Meadowlands complex.

www.app.com

At this point the owners and creditors are locked in. The owners put up another large mall as collateral to get loan done 5 years ago. The creditors don’t want to take this place back because well, what the hell is JPM going to do with it. So extend and try to extract as much flesh as you can.

 

[jtung230]

It’s clear that they need to downsize retail and upsize the entertainment. Just add a casino with a hotel attached and let it ride.

 

[rurichdog]

They're going to need that secured funding to repair the "unsafe structure" the waterpark has become. Decorative helicopters falling off the ceiling onto patrons below sure sounds like family fun to me.

 

[Knight Shift]

They're going to need that secured funding to repair the "unsafe structure" the waterpark has become. Decorative helicopters falling off the ceiling onto patrons below sure sounds like family fun to me.

That wasn't a helicopter. Haven't you followed the hot button issue about windmills killing whales. That was a windmill over the whale tank that attacked to poor whales, who fortunately survived.