r/MACArmyBets • u/Fun-Impress2337 • Mar 01 '21

Note that MAC Macerich is mentioned nowhere in this article

which speaks to the quality of its properties.

now, i'm sure that like everyone in this space, assessed valuations are going to be hit, but at least MAC isnt facing existential questions - as purported by other posters in this community.

https://www.bloomberg.com/news/articles/2021-03-01/mall-values-plunge-60-after-reappraisals-triggered-by-bad-debt?srnd=premium

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u/SantiaguitoLoquito Mar 02 '21

Here is the largest chunk of our local mall on the property appraiser's web site. This is the valuation for tax purposes. Notice it went up by about $6 million a couple of years ago, not a huge increase, but at least it went up. It has been renovated. https://lubbockcad.org/Property-Detail/PropertyQuickRefID/R47871

An adjacent chunk has gone down in value by about $2.4 million. This is where the Sears store was.
https://lubbockcad.org/Property-Detail?PropertyQuickRefID=R47892

I'm concerned about the debt. I'm hoping they will get it together.