Jp Realty Gets Loan For Mall Construction

Wed., July 31, 1996

From Staff And Wire Reports

Salt Lake City developer JP Realty, Inc. has secured a $50 million construction loan to fund the first phase of the Spokane Valley Mall.

The loan will be provided by Bank of Switzerland and Bank One.

The mall’s first phase, comprising about 700,000 square feet of retail space, is scheduled to open in August 1997. The mall will be anchored by JC Penney, The Bon Marche, Sears and a 40,000-square-foot, 12-screen ACT III theater.

The term of the construction loan is three years and is secured by the Spokane Valley Mall. An option is available for an additional two-year extension.

JP Realty owns or has interest in 44 properties containing a total of more than 10 million square feet of leasable area in 10 western states.

, DataTimes

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Jp Realty Gets Loan For Mall Construction

Jesse Tinsley

Jim Meehan

Molly Quinn

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