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Last Updated ( Monday, 21 October 2013 13:58 )
DATE_FORMAT_LC2=Monday,October 21 2013 12:00:00 am EDT   
CBL & Associates Closes $80 Million Loan for The Outlet Shoppes at Atlanta

OutletAtlantaWoodstock, Ga. — CBL & Associates Properties Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 370,000-square-foot outlet retail center located in Woodstock, a northern suburb of Atlanta. The 10-year loan features a 4.9 percent fixed interest rate. Proceeds from the loan will be used to repay a $53.2 million construction loan. The Outlet Shoppes at Atlanta is a 75/25 joint venture between CBL & Associates and Horizon Group Properties, co-developers of the outlet center. Horizon is handling the development's leasing, marketing and management. The retail center features tenants such as Nike, Saks Fifth Avenue OFF 5TH, Brooks Brothers, Calphalon, Columbia Sportswear, True Religion, Cole Haan, White House | Black Market, Guess, Fossil, Michael Kors, Kate Spade, Under Armour and Talbots.

 

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