Syracuse, N.Y. – Destiny USA’s owner is reportedly buying back the mortgage on its Syracuse megamall at a steep discount.
Syracuse-based Pyramid Management Group will pay less than 20 cents on the dollar of the original $430 million in mortgage loans in a settlement with bond holders, Bloomberg reported Friday citing sources with knowledge of the transaction.
If the deal is completed, it would be good news for Pyramid because it would shrink the debt load it has been struggling with for years…