More Tenants Coming for $200M Arboretum

SOUTH BARRINGTON, IL-Jaffe Cos. tells GlobeSt.com that it is close to signing more tenants to its $200-million retail development, and will announce the names by October, including the name of an anchor movie theater that will serve food and cocktails. The company just closed on a $117.7-million construction loan for the Arboretum of South Barrington , a 600,000-sf lifestyle center that already includes tenants such as Ruth’s Chris Steak House, Limited Too, Victoria’s Secret, Ann Taylor Loft, DSW Shoes and Panera Bread.

The construction loan was arranged through Eurohypo A.G. by Chicago-based Draper and Kramer Inc. and the Dallas office of Holliday Fenoglio Fowler LP. “The ability to get this closed is an endorsement of the project,” says a spokesman for Jaffe. “Obviously, there’s been some fluctuation in the financial markets, and there’s a lot of developers sitting on projects unable to get financing.”