- Associated Press - Thursday, November 12, 2015

TARENTUM, Pa. (AP) - Federal court documents show that a bank has foreclosed on a Pittsburgh-area mall.

The Tribune-Review (http://bit.ly/1Ma1csj reports that Wells Fargo foreclosed Wednesday on the Pittsburgh Mills mall, located about 15 miles northeast of the city in Tarentum. The mall opened in 2005.

Documents show that Pittsburgh Mills Limited Partnership, owned by Johnstown-based Zamias Services, owes about $143 million on the original $133 million loan taken out in 2006. The loan matured in April.

There is no evidence the foreclosure will impact the mall’s day-to-day operations. Wells Fargo is seeking to have the court appoint a receiver to operate and manage the property.


Information from: Pittsburgh Tribune-Review, http://pghtrib.com



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