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PHOENIX-Arizona Mills, a 1.233-million-sf mall in Tempe–the largest in the state–has received $146 million in permanent financing from GMAC Commercial Mortgage Corporation and Goldman Sachs.

The off-price mall is one of the most popular in the Valley. Completed in 1996, Arizona Mills features such national and regional retail tenants as: IMAX, Harkins Theaters, Rainforest Café, Off Rodeo Drive, Off 5th-Saks Fifth Avenue, Linens and Things, Last Call-Neiman Marcus and JC Penney Outlet.

The mall sits on 115 acres at the southeast corner of Interstate 10 and the Superstition Freeway, easily the busiest corner for traffic in the state. The two freeways carry most of the traffic throughout the metropolitan area.

The mall was a joint venture of the Mills Corporation, the Simon Property Group and the Taubman Realty Group.

GMAC and Goldman each have a $73-million participation in the loan, which will be served by GMAC.

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