CBL & Associates secures another loan

• This $47.7M loan is secured by Ambassador Town Center in Lafayette, LA. The seven-year loan has a fixed interest rate of 3.22% and was provided by a new institutional lender. Proceeds were used to retire existing construction loans with a balance of $41.9M, with excess proceeds used to fund remaining construction costs.
• It's the company's third recent financing, bringing the total this month to $227M. It's obviously notable given an SEC investigation into four loans NYSE:CBL took out in 2011 and 2012.
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