CBL Properties Announces New $97.5 Million Loan Secured by Fayette Mall in Lexington, KY
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) announced today that it has completed the refinancing of Fayette Mall, a dominant super-regional enclosed mall located in Lexington, Kentucky. The financing replaces the existing $98.6 million loan with a new $97.5 million, fiveyear non- recourse CMBS loan with a fixed interest rate of approximately 7.25%. The new loan's more favorable amortization structure results in approximately $5.0 million in additional cash flow to CBL. "This. ...