PANAMA CITY, FL-Panama City Associates, owner of the 25-year-old, 600,000-sf Panama City Mall, is expected to use the money to renovate and expand the landmark regional retail center. Panama City in the Florida Panhandle is 250 miles northwest of Downtown Orlando.
Terms and interest rate of the loan were not disclosed. The mall's anchors are Dillard's, JC Penney and Sears. L.J. Melody & Co.'s Houston office arranged the permanent, fixed-rate financing.
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