Meet the Long Island guys who love unloved shopping malls
Igal Namdar and Elliot Nassim first teamed up a decade ago to buy problem U.S. shopping malls.
Now they rank among the biggest all-cash buyers of the nation’s hard-luck malls. The pandemic has made it even tougher for mall property owners already struggling to keep up on mortgage payments, resulting in several major players throwing in the towel on distressed properties and with more likely.
The duo, through Namdar Realty Group and Mason Asset Management out of Great Neck, Long Island, currently owns about 60 million square feet of shopping center space, including roughly of 100 open-air properties are 65 enclosed malls.
To read more, please visit MarketWatch.com.