'Bottom Feeder' Comes Out on Top: A Billionaire’s Bet on Struggling Shopping Centers

·3 min read

Perhaps no property type has taken a harder hit during the pandemic than shopping malls. Estimates vary, but by one measure, their real estate value sank a resounding 60% in 2020 alone, and only about half of the 1,100 or so indoor malls in the country are expected to survive. Waiting for them at the bottom are savvy investors who can recognize a bargain, either to try to repurpose, revive, or simply pick up the pieces for a low enough price to profit ahead of the decline’s perhaps ultimate destination.

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