CBL closes $107 million loan secured by Hamilton Place

Hamilton Place mall in Chattanooga is owned by CBL. Staff File Photo
photo Hamilton Place mall in Chattanooga is owned by CBL. Staff File Photo

CBL & Associates Properties today announced that it closed on a non-recourse $107 million loan secured by Hamilton Place mall.

"The new financing - at very favorable terms - clearly demonstrates the confidence of our lending relationships in CBL," said Farzana K. Mitchell, CBL's chief financial officer, in a statement. "The Hamilton Place financing and the nearly $130 million in new equity already raised this year are evidence of our continued access to attractively priced capital and strengthening balance sheet."

The 10-year loan bears an interest rate of 4.36 percent.

Proceeds from the loan were used to retire an existing $98.2