The Mall at Partridge Creek Faces Receivership Sale

The Mall at Partridge Creek in Clinton Township is facing new ownership. Its current owner, Florida-based Starwood Capital Groups, is struggling to make debt payments. The timeframe for the sale is unknown, and the company has declined comment. Starwood bought both Fairlane and the Mall at Partridge Creek in 2014. They’ve fallen into receivership and under new management in the past several months due to unpaid CMBS loans. The current balance is about $120.7 million as of last month, up from $89 million in August.