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Destiny USA owner reaches deal to buy back troubled mall debt

Transaction could produce large loss for CMBS investors
The loan on the 2.4 million-square-foot Destiny USA mall in Syracuse, New York, went unpaid at its 2022 maturity. (CoStar)
The loan on the 2.4 million-square-foot Destiny USA mall in Syracuse, New York, went unpaid at its 2022 maturity. (CoStar)
CoStar News
August 31, 2026 | 9:08 P.M.

The owner of Destiny USA, one of the nation's largest shopping malls, has reached a deal to buy back the Syracuse, New York, property's mortgage at a discount.

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