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Rouse Properties makes sizable cash-out refi on CA mall

Sep. 24, 2015 7:39 AM ETRouse Properties, Inc. (RSE) StockBy: Stephen Alpher, SA News Editor
  • The new $135M mortgage for NewPark Mall - a 1M square foot property in Newark, CA - replaces the previous $65M note, demonstrating the meaningful value creation Rouse (NYSE:RSE) has been able to achieve, says the company.
  • The non-recourse three-year mortgage has an interest rate of Libor + 2.1% - after a forward swap, the all-in fixed rate is 3.26%.
  • Source: Press Release

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