"We are proud of our financing achievements and continue todemonstrate our ability to access credit and financial resources,"says CFO John Foy. "We are well underway with refinancing effortsfor our 2010 maturities and are confident that we will successfullyaddress all of our maturities while continuing our conservativeapproach of laddering maturities into the future."
The loan, which replaces an existing $58 million loan, has afive-year term and a floating interest rate of LIBOR plus 400 basispoints. The previous loan was set to mature in April.
According to reports, CBL purchased the mall in November 1996for $86.4 million. It sits at the intersection of Interstate 64 andRoute 159. There are more than 140 retailers located in the mall.Current tenants include Ann Taylor, Banana Republic, Dillard's,Forever21, and JCPenney.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
