BLOOMINGDALE, IL-Stamford, Connecticut-based Five Mile Capital Partners LLC, the owner of the Stratford Square Mall, is facing default on a $70.5-million loan obtained by the center. According to a Fitch Ratings report, the loan has been moved to the special servicer because the center is in an imminent maturity default.
Five Mile bought the 1.3-million-square-foot mall from Feldman Mall Properties Inc. The company had already taken a $35-million junior loan on the center and it also borrowed the $70.5-million senior loan on the mall. For the full story, go to Crain's Chicago Business .
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