B
al Harbour Shops secured a $740 million loan from Blackstone for the luxury retail center, which will be used for refinancing existing debt and funding an expansion project. The mall is currently 98% leased to high-end tenants and is known for its luxury boutiques and anchor stores. The expansion is expected to be completed next year. The Whitman family, owners of the mall, faced challenges in gaining approval for the expansion in 2016. In addition to the retail expansion, the family proposed a Live Local Act project, which has sparked controversy and legal battles with the village council. Despite this, lending in South Florida remains strong, with other major projects securing significant financing in the region.