SOUTH BARRINGTON, IL-Sources say Boston-based Fidelity Real Estate has purchased the first mortgage loan for the 472,000-square-foot Arboretum of South Barrington mall, which opened in 2008, for $57 million. Developer Jaffe Cos. couldn’t pay the $90-million loan, but was able to work out a deal with Fidelity to remain as a minority partner on the property.

The lifestyle center opened strong in an area with excellent demographics, at the intersection of Higgins Road and Route 59. The center didn’t drop tenants; rather, it’s at 85% occupancy, with tenants that include LL Bean, Chico’s, Victoria’s Secret, Pinstripes and Ruth’s Chris Steak House, a total of more than 50 retailers and restaurants.

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