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JACKSONVILLE, Fla. -- According to court records, the new owners of the Regency Square Mall have taken out a $10 million mortgage.

It comes just months after Namdar Realty Inc. and Mason Asset Management bought the property for $13 million.

Businesses and residents near the mall say they're hoping this is a step toward fixing the mall, and the community.

"Arlington needs that mall, that mall is the center of the area, not just geographically, but it could be financially the center of the area," said Karen LaClaire, who has lived and worked in the area for years.

The owners of the property didn't return calls for comments on how they'd improve the area. No plans have been announced since the acquisition in February.

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