- Loss widened to $245 million as financial expenses ballooned
- Shopping and entertainment complex was 85% leased as of July 1
American Dream, the megamall in New Jersey’s Meadowlands, has seen its losses increase fourfold in one year, according to a draft securities filing.
The 3.5-million-square-foot shopping and entertainment complex, home to an indoor ski slope, amusement park and water park, lost about $245 million in 2022 as expenses almost doubled to $428 million, according to the three-page document posted Monday to the Municipal Securities Rulemaking Board’s EMMA website. Financial expenses, which typically include debt service payments, ballooned to $189 million.
Kristen Buckley-White, an American Dream spokesperson, didn’t respond to a request for comment.
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Bloomberg Markets
By Martin Z Braun
September 19, 2023