CBL & Associates Properties Inc. refinanced $383 million of debt during December to free up more than $160 million in excess proceeds.
The Chattanooga-based shopping center development company said it completed new loans last month under more attractive rates and terms for its shopping centers in Fayetteville, N.C.; Oklahoma City; St. Louis; and D'Iberville, Miss.
For all of 2011, CBL completed more than $2.3 billion in financing activity, Chief Finance Officer John Foy said. "demonstrates our continued strong borrowing relationships a well as the tremendous value of our dominate mall assets."