The moribund Montgomery County economy continues to drag down all boats. Unibail-Rodamco-Westfield has defaulted on a large loan for its Wheaton Plaza mall property, The Washington Business Journal reported yesterday. The company missed the March maturity payment on a loan of approximately $235 million from Credit Suisse. Westfield told the WBJ that "all options are on the table" in the wake of the default, including sale of the mall property, foreclosure, or the refinancing of the loan. However, when Westfield marketed its malls for sale a few years ago, there were no takers for Wheaton Plaza or Montgomery Mall here in Montgomery County.
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