Business & Tech
Town Center At Cobb Could Be Headed For Foreclosure
The lead lender for Cobb County's Town Center Mall announced in a legal notice that it intends to foreclose on the property.
KENNESAW, GA — Town Center at Cobb may be headed for foreclosure, according to legal notices posted in the Marietta Daily Journal.
Deutsche Bank Trust, as the lead lender for the mall, said it intends to foreclose on the Town Center at Cobb property. The move is tied to a $200 million loan made on the mall in 2012, according to the MDJ. A sale is tentatively scheduled for Feb. 2.
Town Center at Cobb, owned by Simon Property Group, is home to more than 170 stores. Simon Property Group also owns Lenox Square and Phipps Plaza in Atlanta, as well as the Mall of Georgia in Buford and Sugarloaf Mills in Lawrenceville. Patch has reached out to Simon Property Group for comment, but it did not immediately respond.
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