The value of Westfield Centre, the largest mall in downtown San Francisco, has dropped by almost $1B.
The half-empty 1.5M SF Union Square mall has been appraised at $290M, a 75% loss compared to a 2016 valuation of $1.2B, according to Morningstar Credit Analytics.
In October, a San Francisco Superior Court judge appointed a receiver to "take possession, custody and control" of Westfield Centre, which was handed back to lenders by its owners in June.
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