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.
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Sunday, May 19 2013 7:24 PM EDT2013-05-19 23:24:30 GMT
Rising flood waters trapped horses inside a Sandy Springs stable on Sunday afternoon. Rescue teams were called to Summit Equestrian Solutions on River Run around 4 p.m.
Rising flood waters trapped horses inside a Sandy Springs stable on Sunday afternoon. Rescue teams were called to Summit Equestrian Solutions on River Run around 4 p.m.
Sunday, May 19 2013 7:10 PM EDT2013-05-19 23:10:38 GMT
On a day filled with nasty storms and heavy rains, there is a bright spot. A Suwanee police officer is being credited with saving the life of a baby bunny that was swept away by flood waters.
On a day filled with nasty storms and heavy rains, there is a bright spot. A Suwanee police officer is being credited with saving the life of a baby bunny that was swept away by flood waters during Sunday's downpour.
Sunday, May 19 2013 2:00 PM EDT2013-05-19 18:00:39 GMT
President Barack Obama addressed a crowd of soggy graduates and guests at Morehouse College's spring commencement ceremony on Sunday.
President Barack Obama addressed a crowd of soggy graduates and guests at Morehouse College's spring commencement ceremony on Sunday, telling graduates to take the power of their example-- as black men graduating from college-- and use it to improve people's lives.
Sunday, May 19 2013 1:53 PM EDT2013-05-19 17:53:40 GMT
President Barack Obama addressed graduates at Morehouse College's commencement ceremony in Atlanta on Sunday.
President Barack Obama addressed graduates at Morehouse College's commencement ceremony in Atlanta on Sunday, marking the first time a sitting president has made a commencement address in Georgia since 1938. See photos from his visit to Atlanta here!
Saturday, May 18 2013 10:09 PM EDT2013-05-19 02:09:05 GMT
They say you can't win if you don't play, and thousands of people are. The jackpot for Saturday night's Powerball drawing is an estimated $600 million, giving many a bad case of lottery fever.
They say you can't win if you don't play, and thousands of people are. The jackpot for Saturday night's Powerball drawing is an estimated $600 million, giving many a bad case of lottery fever.
