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.