Who knew "location, location, location" could translate to "depreciation, depreciation, depreciation"? "Cobb County appraised the value of the 1.3M SF mall at more than $70M this year. Both mall anchors, JCPenney and Macy’s, own parts of the mall real estate. Kohan owns the remaining 560K SF.  Kohan, a prolific Northeast mall investor, purchased Town Center in January 2023 after Deutsche Bank foreclosed on the original $166.7M loan from Simon Property Group in 2021, the Atlanta Business Chronicle previously reported. The bank took a $96.5M loan loss.  Kohan is no stranger to trouble with his mall portfolio. The firm owns more than 40 malls across the U.S. and has faced criticism of its ownership of various properties in recent years because it has let them languish or failed to pay local taxes and other bills." https://lnkd.in/eAREF9Gw