America’s dying shopping malls have billions in debt coming due

Analysts predict a run of mall closures following a $144 million mortgage default this month by General Growth Properties Inc. – the second-largest mall owner in America.
 
According to Bank of America Merrill Lynch data, it’s a sign of things to come: Roughly $47.5 billion in retail property loans will mature by the end of 2017.
 
Coupled with declining sales at department stores, Newport Beach, Calif.-based real estate research firm Green Street Advisors LLC estimates hundreds of malls could close over the next decade.
 
Read more from Bloomberg Business.