The Playground

300,000 SF Entertainment & Shopping Center
Atlantic City, NJ

$8MM Redevelopment Loan

Challenge
This loan was needed to complete the first phase of the redevelopment and rebranding of the former Pier Shops at Caesars, a 41% occupied enclosed mall in Atlantic City. The loan needed to close in a short time frame in a market where few lenders were willing to lend.

Solution
Washington Square arranged a construction loan from a private lender, which closed in less than 2 weeks, enabling the Borrower to complete the first phase of the redevelopment before the busy summer shopping season.