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Simon Property Group sues Gap over missed rent payments

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Simon Property Group, the largest U.S. mall owner, filed suit against Gap, one of its biggest tenants.

The suit alleges Gap failed to pay more than $65.9 million in rent and other charges due during the coronavirus pandemic, CNBC reports.

Simon Property Group's malls have 412 Gap stores, which include Banana Republic and Old Navy shops. Simon operates Battlefield Mall in Springfield.

Read more from CNBC.

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