Cbl Properties Completes Extension And Modification Of $134.1 Million Non-Recourse Loan Secured By Fayette Mall
Mar 01, 2022•almost 4 years ago
Amount Raised
$134 Million
Description
CBL Properties (NYSE: CBL) today announced that it had closed on the extension and modification of the $134.1 million non-recourse loan secured by Fayette Mall in Lexington, KY. The loan maturity has been extended for two years, with three additional one-year extension options, subject to certain requirements. The fixed interest rate was reduced from 5.42% to 4.25%. As part of the modification, two ground leased outparcels were released from the collateral in exchange for the addition of the redeveloped former middle anchor location.
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