Article: City Center devalued by owner.

Byline: Jeffrey Sheban

Aug. 25--Columbus City Center's lead owner has designated the Downtown property "impaired" and is writing off $6 million to reflect its declining value.

Mills Corp., which bought controlling stakes in City Center and the Mall at Tuttle Crossing in October 2004, revealed the move in a Securities and Exchange Commission filing this month.

"Mills believes the investment in the Columbus City Center ... is impaired and it is expected that a write-down of approximately $6 million ... will be recorded in the fourth quarter of 2005," the suburban Washington-based company said in the filing.

Spokesman David Douglass said ...

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