CBL Properties Secures Nearly $158 Million in New and Amended Financing Agreements, Extends Loan Maturities and Reduces Interest Rates
Reuters
Oct 01, 2025
CBL Properties Secures Nearly $158 Million in New and Amended Financing Agreements, Extends Loan Maturities and Reduces Interest Rates
**CBL Properties Announces Nearly $158 Million in Recent Financing Transactions** CHATTANOOGA, Tenn. - CBL & Associates Properties Inc. $(CBL)$ has announced the completion of nearly $158 million in new and amended financing arrangements across three properties. The company, along with its joint venture partner, secured a new $43 million, five-year non-recourse loan for The Pavilion at Port Orange in Florida. The fixed interest rate of 5.9% is more than 160 basis points lower than the prior 7.57% rate, and proceeds were used to retire the existing $40.9 million loan ahead of its February 2026 maturity. CBL also reached an agreement with the existing lender for the Coastal Grand property in Myrtle Beach, South Carolina, reducing the principal by $5 million to $88 million. The loan now carries an initial effective fixed interest rate of 5.09% and the maturity has been extended to August 2028. Additionally, the non-recourse loan secured by York Town Center in Pennsylvania was extended by nine months, now maturing in June 2026 with a fixed interest rate of 6.0%. CEO Stephen D. Lebovitz stated these transactions strengthen the company's balance sheet by extending maturities and securing favorable rates, reflecting improving conditions in the retail real estate financing market.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CBL & Associates Properties Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251001178555) on October 01, 2025, and is solely responsible for the information contained therein.
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