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GGP Gets $525M UBS, Morgan Stanley Loan

General Growth Properties has secured loans from UBS and Morgan Stanley.

General Growth Properties (GGP) has secured loans from UBS and Morgan Stanley, Bloomberg reports. The U.S. real estate company has secured a $375 million loan from UBS for the Providence Place Mall in Rhode Island.

The Illinois-based company has also received a $150 million loan from Morgan Stanley for a Texas property. The lenders are seeking to package the debt for sale as securities. GGP is seeking to revamp $5 billion of mortgage loans.

Click here for the story from Bloomberg.

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