GAITHERSBURG, MD-The Washington Post has reported that Lakeforest Mall situated in Gaithersburg has put up for sale. Since the owners of the 1-million-square-foot mall have not able to make loan payments, they have listed the property on the market.
Simon Property Group, a real estate investment trust based in Indianapolis, is managing the property. The company owns only a 25% stake in the mall and the majority stake is owned by General Motors Asset Management. For the full story, go to Washington Business Journal .
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