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CHANDLER, AZ-Less than one year after opening its doors, the owners of Chandler Fashion Center have refinanced the 1.3-million-sf retail showcase with a $184-million loan that helped pay off a $160-million, floating-rate construction loan that was set to mature in December.

Owner Macerich Co. obtained a fixed rate of 5.48% on the new loan, which matures in October 2012. Chandler Fashion Center was acquired by the company in July as part of the firm’s acquisition of Westcor, which built the property at Chandler Boulevard and Loop 101.

The mall, which opened in October 2001, is anchored by Dillard’s, Nordstrom, Robinson-May and Sears, in October 2001. It currently is 99% occupied.

Macerich owns interests in 56 regional malls and 21 community centers throughout the county totaling 58 million sf. The Santa Monica, CA based firm recently won seven MAXI Awards and four MAXI Merits for outstanding community service and marketing at the International Council of Shopping Centers annual fall conference.

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