The $87-million price tag for the 33%-portion of the complex that Mills did not already own included assumption of about $56 million in allocable, joint venture, project-level debt to Mills, according to the company's prepared statement.
The $31-million cash portion of the deal was funded by Mills' recent equity offering of 7.5 million shares of the company's stock which closed on May 6.
Opry Mills, the $200-million complex located on Nashville's Opryland site, opened in 2000. It contains more than 200 restaurants and stores, primarily off-price outlets, and a Regal Cinema IMAX theater. Among the tenants are Tower Records, Bass Pro Shops Outdoor World, and NASCAR Silicon Motor Speedway.
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