General Growth Properties Inc. has refinanced its mortgage on the Natick Mall for $450 million at 4.6 percent.

The Chicago-based REIT refinanced the mall and three other shopping centers across the country.

The Natick loan is due in 2019, along with a $185 million mortgage on the company’s First Colony Mall in Sugar Land, Tex.

Other malls refinanced were the Galleria at Tyler in Los Angeles and Northbrook Court in Chicago.

In total, the four new fixed-rate loans are worth nearly $1 billion and have a weighted average term of 9.1 years and a weighted average interest rate of 4.63 percent.

Previously, the loans carried an average interest rate of 5.66 percent.

General Growth Refinances Natick Mall Loan

by Banker & Tradesman time to read: <1 min
0