COLUMBUS, OH-Glimcher Realty Trust has acquired a $46 million loan for its Polaris Towne Center here, with an overpayment that will go toward the company’s $232 million credit facility. The $38.6 million debt for the 443,000-square-foot retail center, across from the Polaris Fashion Mall, came due this year.

The new loan, through Bank of America, was for a fixed interest rate of 6.76%, and replaces the former mortgage that had interest of 8.20%, according to Lisa Indest, vice president of finance and accounting for Glimcher. “It’s very good news, the interest rate is favorable,” she says. “We have continued to take positive steps addressing capital structure, and we’re very excited about our momentum.”

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