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General Growth Refinances Malls For $966M

Chicago-based real estate investment trust General Growth Properties has arranged $966 million in loans for four malls.

Chicago-based real estate investment trust General Growth Properties has arranged $966 million in loans for four malls. The firm has accomplished its $3.9 billion refinancing plan for the current year with the new mortgages.

The properties include the Northbrook Court mall in Northbrook, Illinois, which is financed for $131 million at 4.25 percent, due 2021, and the Natick Mall in Natick, Massachusetts, for $450 million at 4.6 percent till 2019. The Galleria at Tyler in Riverside, California, is financed for $200 million at 5.05 percent, due 2023, and the First Colony Mall in Sugar Land, Texas, for $185 million at 4.5 percent, due 2019.

Click here for the release from PR Newswire.

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