The Mall at Stonecrest is facing debt trouble that leaves it vulnerable to foreclosure.
Fitch Ratings has reported that a loan backed in part by the Lithonia mall is now held by a company that helps firms work out of debt.
The Atlanta Journal-Constitution reports the move will not affect mall operations. Still, Lithonia Mayor Deborah Jackson called the problems "disturbing news."
Several malls across Georgia have faced financial difficulties, especially since the Great Recession. Gwinnett Place Mall went into foreclosure last year. The loan on Southlake Mall in Morrow last year went to the same firm now holding the Stonecrest loan. Union Station Mall in south Fulton County was foreclosed in 2010.
Three other Georgia malls in Macon, Gainesville and Rome have also faced foreclosure.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Wednesday, June 19 2013 10:37 AM EDT2013-06-19 14:37:41 GMT
After bonding out on a 15-count criminal indictment, DeKalb County CEO Burrell Ellis denied any wrongdoing, saying "I've done nothing wrong."
After bonding out on a 15-count criminal indictment, DeKalb County CEO Burrell Ellis denied any wrongdoing, saying "I've done nothing wrong. I would never, ever, ever do anything to voilate the public trust."
Wednesday, June 19 2013 8:29 AM EDT2013-06-19 12:29:16 GMT
A local couple is happy to hear that members of a morning radio show fired for mocking a former ex-NFL star battling ALS now admit that they went too far.
A local couple is happy to hear that members of a morning radio show fired for mocking a former ex-NFL star battling ALS now admit that they went too far.
Wednesday, June 19 2013 8:13 AM EDT2013-06-19 12:13:25 GMT
The Woodstock Police Department says a police K-9 died after being left in his handler's patrol car.Spartacus, a 3-year-old Belgian Malinois, was found dead in his handler's patrol car. Authorities later
The Woodstock Police Department says a police K-9 died after being left in his handler's patrol car.
Tuesday, June 18 2013 11:38 PM EDT2013-06-19 03:38:42 GMT
The City Council of Chamblee has delayed a controversial land rezoning variance. The Council also issued a preliminary resolution saying that they wanted to fire their own manager.
The City Council of Chamblee has delayed a controversial land rezoning variance. The Council also issued a preliminary resolution saying that they wanted to fire their own manager.
