Ahhhhhhh
I told my fiance 2yrs ago this place would be gone in 5yrs, I was a little off
Sent from my Verizon Wireless BlackBerry
-----Original Message-----
From: "dfsavgny" <dfsav...@yahoo.com>
Sender: AsburyPark@yahoogroups.com
Date: Wed, 08 Sep 2010 17:05:22
To: <AsburyPark@yahoogroups.com>
Reply-To: AsburyPark@yahoogroups.com
Subject: [AsburyPark] A Lesson in This?
The Pier Shops at Caesars handing keys to lenders
ATLANTIC CITY The owner of the upscale shopping mall that juts out over the
ocean in Atlantic City is preparing to hand over the keys to lenders.
The owner of the Pier Shops at Caesars has defaulted on a $135 million loan.
Taubman Centers Inc. now estimates the mall is worth just $52 million. A
Taubman spokeswoman tells The Press of Atlantic City the lender takeover could
be completed by the end of the year.
Analysts believe the lenders will try to sell the property as quickly as
possible rather than operate it themselves.
It opened four years ago, hoping to bring luxury shopping and designer glitz to
a Boardwalk best known for T-shirt and pizza joints.
[Non-text portions of this message have been removed]
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