CBL Properties Secures $78 Million Loan From Mesirow Financial To Refinance Cross Creek Mall

The asset involved in this transaction is a retail center located at 419 Cross Creek Mall, Fayetteville, NC, encompassing a total area of 790,582 square feet. The property was built in 1975 and is anchored by major tenants, serving as the only super-regional mall within a 75-mile radius, catering to a population of 330,000.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $78,000,000
• Lender: Mesirow Financial
• Landlord: CBL Properties
• Loan Type: Non-recourse, five-year fixed-rate CMBS loan

The deal includes CBL Properties, which secured the loan from Mesirow Financial to refinance the Cross Creek Mall. This transaction reinforces the importance of the location and size of the asset in the context of local market dynamics.