To Xanadu.
To Xanadu: Colony Capital Acquisitions said it has agreed to
provide up to a $500 million loan to Mills Corp. for construction of a
4.8 million-square-foot shopping, sports and entertainment complex in
New Jersey called Xanadu. Los Angeles-based Colony joins Arlington,
Va.-based Mills and German real estate investor Kan Am as partners in
the $2 billion project. Mills, which owns the Ontario Mills Mall, one of
the largest in the nation, has been struggling amid a Securities and
Exchange Commission investigation into possible accounting errors.
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