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PHILADELPHIA-Columbus, OH-based Glimcher Realty Trust has obtained $8 million in mortgage financing on four community shopping centers from an unidentified lender. Net proceeds are being used to pay down a maturing $4.5-million bridge loan and the company’s line of credit.

The mortgage carries a rate of LIBOR plus $1.95%, which results in an initial interest rate of 3.79%. It matures Aug. 1, 2004 and includes a one-year extension option.

The properties on which the mortgage was obtained are: 16,000-sf Stewart Plaza community center in Mansfield, OH; 112,000-sf Clarksville Plaza in Clarksville, IN; 103,000-sf Morgantown Plaza in Morgantown, WV, and 161,000-sf Twin County Plaza in Galax, VA.

The Glimcher portfolio includes 22 regional and super-regional malls and 89 community centers and single-tenant retail properties.

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