{"id":1004145288,"date":"2016-06-02T08:59:57","date_gmt":"2016-06-02T16:59:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145288"},"modified":"2020-05-18T01:16:05","modified_gmt":"2020-05-18T09:16:05","slug":"tennessee-mall-lands-107m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tennessee-mall-lands-107m-financing\/","title":{"rendered":"Tennessee Mall Lands $107M Financing"},"content":{"rendered":"<p>By Ioana Neamt<\/p>\n<div id=\"attachment_1004145289\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004145289\" data-attachment-id=\"1004145289\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tennessee-mall-lands-107m-financing\/12716043_1223874700974939_5899983099898196583_o\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg\" data-orig-size=\"2048,1363\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"12716043_1223874700974939_5899983099898196583_o\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg?w=1024\" class=\"wp-image-1004145289 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg\" alt=\"Hamilton Place, Chattanooga, Tenn.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/12716043_1223874700974939_5899983099898196583_o.jpg?resize=1536,1022 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004145289\" class=\"wp-caption-text\">Hamilton Place, Chattanooga, Tenn.<\/p><\/div>\n<p><strong>Chattanooga, Tenn.<\/strong>\u2014<a href=\"https:\/\/cblproperties.com\/cbl.nsf\/index.html\" rel=\"nofollow\" target=\"_blank\">CBL &amp; Associates Properties<\/a> has recently closed on a $107 million, non-recourse loan for Hamilton Place, a two-story retail center in Chattanooga, Tenn. The 10-year loan placed with <a href=\"https:\/\/www.goldmansachs.com\/index.html\" rel=\"nofollow\" target=\"_blank\">Goldman Sachs Mortgage Co.<\/a>, bears an interest rate of 4.36 percent, and was used to retire an existing $98.2 million, 5.86 percent interest rate loan scheduled to mature in August 2016. According to CBL, its share of excess proceeds was used to reduce outstanding balances on its lines of credit.<\/p>\n<p>\u201cThe new financing \u2013 at very favorable terms \u2013 clearly demonstrates the confidence of our lending relationships in CBL,\u201d Farzana Mitchell, CBL CFO, said in a prepared statement. \u201cThe Hamilton Place financing and the nearly $130 million in new equity already raised this year are evidence of our continued access to attractively priced capital and strengthening balance sheet.\u201d<\/p>\n<p>The 29-year-old mall located at 200 Hamilton Place Blvd. just off the I-75 was the largest shopping mall in the state of Tennessee from 1987 to 1998. Hamilton Place is currently home to more than 150 stores and restaurants, including anchor tenants such as Sears, JCPenney, Dillard\u2019s, Belk and Forever 21. Last month, CBL signed two new leases with Oakley and Dos Bros to open stores at the mall later this summer.<\/p>\n<p><em>Image courtesy of the Hamilton Place <a href=\"https:\/\/www.facebook.com\/HamiltonPlace\/\" rel=\"nofollow\" target=\"_blank\">Facebook page<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBL &#038; Associates has closed on a 10-year, non-recourse loan for an iconic Chattanooga retail asset.<\/p>\n","protected":false},"author":192,"featured_media":1004145289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21742,21749],"tags":[],"class_list":["post-1004145288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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