Where did you read the mall is closing? The final paragraph in the linked article indicates things are staying open, Westfield isn't shutting anything down, just deciding to back out of repaying the remainder of their loan.

It's a functional foreclosure, which divests them of their interest much like selling an asset would - do you just mean it's "much different" because of the amount of money they make/lose?

Trying to understand the distinction you're making as it relates to this article and their preexisting plans to exit the market.