Taubman Gets $320M Loan From US Bank For San Juan Mall

Law360, New York (April 30, 2014, 7:45 PM EDT) -- Michigan developer The Taubman Realty Group LP has secured a $320 million loan from U.S. Bank NA for the development of a 650,000-square-foot mall outside of San Juan, Puerto Rico, the companies announced Tuesday.

The financing for the Mall of San Juan, which will be home to the first Caribbean stores for Saks Fifth Avenue Inc. and Nordstrom Inc., is the St. Paul, Minn.-based bank's first commercial property loan in Puerto Rico, and the project is one of a handful of retail properties under development by Taubman.

"The Mall of San Juan will be the premier, high-end shopping destination in the Caribbean," Simon J....

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