GGP Lands $1.5B Loan Refi For Mall Portfolio

Law360, New York (May 1, 2013, 2:12 PM EDT) -- In another sign of a strengthening lending environment in the real estate market, General Growth Properties has closed on a $1.5 billion term loan to refinance 16 of its mall properties, according to a Wednesday statement by lender U.S. Bank.

U.S. Bank and RBC Capital Markets LLC co-led a consortium of lenders that included 11 other organizations chipping in for the massive refinance deal. The loan has a three-year term, with options to extend up to two more years, and lowered the weighted interest rate on...
To view the full article, register now.