ATLANTIC CITY, NJ—The Caesars Pier shoppingcenter here is about to change hands. Philadelphia developerBart Blatstein has teamed up with casino architectPaul Steelman to buy the 300,000-square-footretail center.
The duo has reached an agreement to acquire the three-story,half empty property for $2.8 million, according to The Inquirer.The shopping center cost Taubman Centers and its partners more than$200 million to build.
In 2011, a group of lenders foreclosed on the center, canceling$135 million in debt and interest Taubman still owed, andeventually put the property up for sale.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
