Deal Is Third CBL Outlet Mall Financed by U.S. Bank in Three Years
U.S. Bank announced it closed on a $60 million loan for CBL & Associates Properties and Horizon Group Properties to finance construction of The Outlet Shoppes near Louisville, KY.
The 370,000-square-foot development will include more than 80 retailers and is expected to create more than 1,000 jobs.
The Outlet Shoppes under construction just off Interstate 64 in Simpsonville, KY, will open to the public in summer 2014. CBL and Horizon are co-developing the property, with Horizon responsible for leasing and management.
The open-air style retail center will feature marquee tenants including Coach, J. Crew, Brooks Brothers, Michael Kors, Nike, Saks Fifth Avenue OFF 5TH and more.
CBL, one of the largest and most active owners and developers of malls and shopping centers in the U.S., currently owns, holds interests in or manages more than 150 properties spanning 31 states.