"Harper Woods fixture Eastland Center has gone into receivership after missing several payments on outstanding loans on the property.
The mall’s owner, Ashkenazy Acquisition Corp. — the same company that defaulted on the now-shuttered Northland Center — owed $42.5 million as of April on $46 million in loans taken out against the property in 2006, according to a complaint filed in U.S. District Court by lender U.S. Bank National Association."
http://www.crainsdetroit.com/article...-loan-payments
This has to be one of the less surprising announcements but sad nonetheless. Was Eastland the next mega mall after Northland?
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