"A 120% Loss on Vegas Mall Triggers Payday for Icahn's Big Short". "Primm's Fashion Outlets getting new name, direction". ^ a b Hudson, Subrina (December 5, 2019)."Fashion Outlet of Las Vegas termed among tops in nation". ^ a b Hubble Smith (February 17, 2001).^ "Upscale-looking outlet mall opens today in Primm".^ Monica Caruso Doug Puppel (July 17, 1998). If tourists want to go shopping, theyll just go to the outlets in Vegas instead of. "Construction to begin on Primm outlet mall". The outlet mall is attached to the Primm Valley Resort and Casino. "Lenders foreclosed on Primm's Fashion Outlets of Las Vegas". ^ "Taxable value for Primm mall owners lowered $3.9 million"."Primm's Fashion Outlets of Las Vegas faces business and financial woes". ^ a b c d e Eli Segall (December 21, 2017).The loan on the mall suffered a loss of 120% or $74 million dollars. In 2021, the outlets at auction was purchased by the Kohan Retail Investment Group for $1.525 million. Rialto changed the mall's name to Prizm Outlets. By December 2019, more than $2 million had been spent on upgrades for the mall. The mortgageholder, Miami-based real estate firm Rialto Capital Management, repossessed the property in 2018. By late 2017, the mall's mortgage was reportedly in default. Brookfield foreclosed in 2016, taking ownership of the mall. In 2012, the mall took out a $73-million mortgage, along with a $32-million loan from Brookfield Asset Management. Talisman announced in 2007 that it had obtained a $141 million loan to finance an expansion of the mall from 371,000 square feet (34,500 m 2) to 521,000 square feet (48,400 m 2). Talisman Cos., a Florida-based real estate developer focused on turning around underperforming shopping centers, acquired a stake in the property in 2000, and by the following year, was reported to be seeking full ownership. TrizecHahn was set to sell its interests in the mall to The Rouse Company, but the sale did not materialize. The mall opened on July 16, 1998, at a cost of $75 million. It began as a joint project between two shopping center developers, the Gordon Group and TrizecHahn. Plans for the mall were announced in September 1995. The Fashion Outlets are connected to the Primm Valley Resort. The mall is divided into two themed courts: the Urban Court and the South Beach Court. The mall has 58 stores and restaurants, with some of its largest shops being outlets of Polo Ralph Lauren, Williams Sonoma, Banana Republic, and Coach. It is owned by Rialto Capital Management, on land leased from the Primm family. Prizm Outlets, formerly the Fashion Outlets of Las Vegas, is a 371,000-square-foot (34,500 m 2) outlet shopping center in Primm, Nevada, located just off Interstate 15 at the California state line, approximately 40 miles (64 km) southwest of Las Vegas.
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