CBL & Associates Properties Inc. on Wednesday announced it closed a $72 million loan secured by St. Clair Square in Fairview Heights, Ill., as it continues to refinance or extend its debt.
The loan replaces the existing $58 million loan. In 2009, CBL refinanced or extended more than $1.6 billion in mortgage loans and credit facilities.
"We are proud of our financing achievements and continue to demonstrate our ability to access credit and financial resources," said John N. Foy, CBL's chief financial officer.
Leeco Steel opens distribution center
Leeco Steel LLC has opened a 53,000-square-foot full-service distribution facility at 2605 E. 39th St. in Chattanooga.
The company said the facility will bring it closer to much of its southeastern customer base.
"The Chattanooga location will allow Leeco to not only offer enhanced service to existing customers, but it will also facilitate a much deeper and efficient penetration of the entire steel plate consuming community in the southeastern U.S.," said Denton Nordhues, president and CEO.
Leeco distributes carbon, high-strength low-alloy and heat-treated alloy plate and is based in Darien, Ill. It is part of O'Neal Steel Industries.