CBL Properties Announces New $43.0 Million Non-Recourse Loan Secured by Northwoods Mall in N. Charleston, SC
CBL & Associates Properties, Inc. (CBL)
Last cbl & associates properties, inc. earnings: 2/6 04:15 pm
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Source: Business Wire
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that it had closed on a $43.0 million non-recourse loan secured by Northwoods Mall in N. Charleston, SC. The new five-year loan bears a fixed interest rate of 9.1%. Proceeds from the loan, as well as approximately $7.5 million of existing escrows, were used to retire the existing $46.8 million loan secured by the property, which was scheduled to mature this month. Under the prior loan, cash flows have been swept by the lender since April 2021.“The successful closing of this new CMBS loan for Northwoods Mall demonstrates our ability to access attractive capital and reinforces the strong lender confidence in our middle-market mall portfolio,” said Ben Jaenicke, CBL’s EVP - Chief Financial Officer. “By extending debt maturities and unlocking over $3.0 million of previously restricted cash flow, this transaction further strengthens our balance sheet and enhances our ability to create long-term value for our
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- CBL Properties Closes $176 Million Non-Recourse Financing [Yahoo! Finance]Yahoo! Finance
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CBL
Sec Filings
- 4/2/26 - Form 8-K
- 3/26/26 - Form SCHEDULE
- 3/19/26 - Form 8-K
- CBL's page on the SEC website