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CBL Properties Secures $78 Million Loan From Mesirow Financial To Refinance Cross Creek Mall
FINANCED
$78,000,000
North Carolina
See Similar DealsRetail790,582 SF
Financed 07/09/2025
FINANCED
CBL Properties Secures $78 Million Loan From Mesirow Financial To Refinance Cross Creek Mall
419 Cross Creek Mall
See Similar DealsRetail790,582 SF
Financed 07/09/2025
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$98
Total Square Footage:790,582 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$78,000,000.00
Monthly NOI$520,000.00
Monthly Debt Service$493,013.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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