$191MM Mortgage Loan Falls into Default on Brookfield Properties’ 1.2MM SQFT Clackamas Town Center in Happy Valley, Ore. - The Registry

Happy Valley mall owner defaults on $191M debt as anchor-tenant leases loom

The shopping mall was first constructed in 1981 and underwent a major renovation in 2007.

$191MM Mortgage Loan Falls into Default on Brookfield Properties’ 1.2MM SQFT Clackamas Town Center in Happy Valley, Ore. - The Registry

By The Registry Staff A loan connected to a shopping center in the Portland region has fallen into default. According to a report from the Portland Business Journal, Brookfield Properties, the owner of Clackamas Town Center, has defaulted on a $191 million mortgage loan. This default comes amidst a wave of lease expirations for major tenants, including Macy’s, JCPenney and a former Nordstrom location, which together comprise nearly half of the m…