Country Club Plaza Writes Off ONE HUNDRED MILLION BUCKS In Loan Default Deal

OR . . .

IS GRACIE HUNT ABOUT TO WASTE EPIC BUCKS?!?

To wit . . . 

Local news doesn't really explain much about this impending financial arrangement but we give them credit for at least sharing the basics of local entertainment district cash under distress.

The basics:

"In a filing Monday with the Securities and Exchange Commission, the Santa Monica, California-based real estate investment trust announced an impairment charge of $101 million on the Country Club Plaza."

Here's a bit more explanation about what that means . . . 

"An impairment charge is a process used by businesses to write off worthless goodwill. These are assets whose value drops or is lost completely, rendering them completely worthless. Investors, creditors, and others can find these charges on corporate income statements under the operating expense section."

TKC is NOT an accountant and your mileage might vary but basically . . .

THIS REPORT KINDA CONFIRMS THE PLAZA HAS LOST BIG BUCKS IN THE AFTERMATH OF BLM RIOTS, AMAZON'S RISE & KANSAS CITY'S PUBLIC SAFETY CRISIS!!!

Read more via www.TonysKansasCity.com link . . .

One of Country Club Plaza's owners announce 'impairment charge' on district

Macerich, one of the two companies in a joint venture that owns the Country Club Plaza in Kansas City, Missouri, announced an "impairment charge" in its 2023 annual report.