(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

EAST RUTHERFORD, NJ-Today's expected closing date of construction financing for the Mills Corp.'s Meadowlands Xanadu project here is delayed until Sept. 27. Los Angeles-based Colony Capital Acquisitions and Germany's Kan Am USA Management are providing the funds for the $2-billion retail-entertainment center.

Under the terms of the deal, Colony will invest up to $500 million in equity capital and arrange for construction financing for the rest of the projected $2-billion cost. Kan Am is Mills' long-term financial joint-venture partner on projects around the country.

Chevy Chase, MD-based Mills' management also says it expect to close a deal by the end of the month to sell its foreign holdings to Canada-based mall owner Ivanhoe Cambridge during or before the first week of next month. That $981-million deal involves the sale of Vaughan (Ontario) Mills; St. Enoch Centre, in Glasgow, Scotland; and Madrid (Spain) Xanadú.