X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

COLUMBUS, OH-Glimcher Properties Limited Partnership has completed the financing of a $38 million mortgage secured by River Valley Mall in Lancaster, OH and a $7.9-million mortgage secured by Barren River Plaza in Glasgow, KY. The River Valley debt has an initial maturity date of Dec. 31, 2004.

The proceeds of the loan are being used to repay a $33.4-million bridge loan that carried an interest rate of LIBOR plus 5% and a $4.8-million maturing mortgage loan that carried an interest rate of 8.75%.

The Barren River debt is a permanent mortgage loan that matures in 2012 and carries a fixed rate of interest of 7.62%. The loan proceeds were used to repay a maturing $7.5-million mortgage loan with a fixed rate of 8.75%.

As a result of these transactions, 10 community centers that previously secured the $33.4 million bridge loan are now unencumbered.

The company participates in the ownership, management, acquisition and development of enclosed regional and super-regional malls, value megamalls and community shopping centers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.