Beal Bank Provides $176 Million Refinance Loan To CBL & Associates For Retail Properties
11200 West Broadway Street, 6835 Conservation Way, 6490 Towne Center Crossing & 89 East Towne Mall
$176,000,000
Building Size
—
Asset Type
Retail
Closing
Apr 8, 2026
AI
The transaction involves four retail properties located at 11200 West Broadway Street, 6835 Conservation Way, 6490 Towne Center Crossing, and 89 East Towne Mall across various markets including Pearland, TX; Wilmington, NC; Southaven, MS; and Madison, WI. The total loan amount secured for this refinance is $176,000,000, which is aimed at enhancing cash flow and reducing existing debt.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $176,000,000
- Lender: Beal Bank
- Landlord: Stephen D. Lebovitz - CBL & Associates Properties Inc
- Loan Type: Refinance
- Annual Cash Flow Improvement: $30,000,000
- Debt Reduction: $33,000,000
Beal Bank provided non-recourse financing to CBL & Associates, with the refinancing strategy designed to bolster the financial standing of the properties managed by Stephen D. Lebovitz. This deal underscores the collaboration between the lender and the landlord in optimizing the property's financial performance.
Players
Pearland Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93