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People walk through the Brookfield Place Pavilion at the World Trade Center West Concourse pedestrian transit connection on October 24, 2013 in New York City.
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Property and mall owner Brookfield Asset Management is targeting spending $5 billion to help struggling retailers, as the retail industry reels from the coronavirus pandemic, the company announced Thursday.
The company said its retail revitalization program, backed by Brookfield and its institutional partners, will focus on taking noncontrolling stakes in retailers to assist them with their capital needs during this time of “dislocation.”
The announcement comes as mall-based retail has been one of the hardest hit…
Source cnbc.com
