Lender to take over two Tampa Bay Westfield malls after loan defaults
The Countryside mall in Clearwater and Citrus Park mall in Tampa defaulted on loan payments of $278 million combined.
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Celisse Sims, of Tampa, left, tries on shoes with the help of Antonio Longworth, at Footaction USA on May 22 at Westfield Countryside Mall in Clearwater. The mall is now facing foreclosure after missing loan payments. [ DOUGLAS R. CLIFFORD | Times ]
Updated Dec. 31, 2020
Two of Tampa Bayâs largest suburban malls are facing foreclosure and are slated to be taken over by their lender after both defaulted on multi-million-dollar loans.
The mortgage lender to both the Westfield Citrus Park and Countryside malls filed lawsuits on Tuesday, saying they had failed to make principal payments since May. The malls defaulted on commercial mortgage-backed security loans, creating a combined debt owed of nearly $278 million.
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