Third outlet mall from CBL financed by U.S. Bank in three years
LOUISVILLE, Ky. (Sept. 4, 2013) – U.S. Bank announced Tuesday that it closed on a $60 million loan for CBL & Associates Properties and Horizon Group Properties to finance the construction of The Outlet Shoppes at Louisville. The 370,000-s.f. development will feature more than 80 retailers and is expected to create more than 1,000 jobs in the Louisville area.
The Outlet Shoppes, under construction off Interstate 64 in Simpsonville, will open next summer. 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.
“The Outlet Shoppes has been a highly-anticipated project among Louisville’s businesses and residents,” said David Wombwell, senior vice president for U.S. Bank in Louisville. “This mix of high-end retailers in an outlet setting is sure to attract both residents and tourists alike.”
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States, and currently owns, holds interests in or manages more than 150 properties in 31 states.