Sycamore Mall reaches new financial agreement

BY KRISTEN EAST | MARCH 06, 2013 5:00 AM

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Sycamore Mall announced Tuesday that it reached a new financial agreement with Great Western Bank, successfully removing the foreclosure previously filed against the Iowa City mall.

According to a press release, the North Liberty office of Great Western Bank negotiated the terms of the new loan agreement with Sycamore mall officials over the last few months.

Wells Fargo Bank filed foreclosure against CORE Sycamore Town Center in December 2012 for an outstanding payment of roughly $12 million, The Daily Iowan has previously reported.

“Sycamore Mall is extremely excited to partner with Great Western Bank,” General Manager Kirk White said in the release. “The excitement and enthusiasm it has shown during the processing of the new loan illustrates the confidence that businesses within the community have in the future of Sycamore Mall.”

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