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Latest to Default on a Loan: Anaheim Edition

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Via the OC Register: "Developers of The Shops at Anaheim GardenWalk, an outdoor retail mall in the shadow of Disneyland, have defaulted on a $210 million loan and are facing foreclosure as the retail center struggles to attract tourists and gain its share of the regional consumer market." Oh, poor GardenWalk. This was that big colorful retail mail that was approved by the city council in 2006. It opened in 2008, just in time for the the big economic collapse. According to the OC Register, construction was delayed on two hotels at GardenWalk, and attempts to have big events at the development--including a party for Olympic Gold Medal-wining U.S. Men's Volleyball team--haven'thelped keep crowds coming back.
· Mall defaults on $210 million loan [OC Register]
· Anaheim Approves New Tourist Trap [Curbed LA]

Anaheim GardenWalk

321 W. Katella Ave., Anaheim, CA 92802