Simon Property Group Completes Financings

Simon Property Group Inc. completes a $97.5 million mortgage financing for Woodland Hills Mall and another for Penn Square in Oklahoma City.
The Woodland Hill transaction, with an 7.79 percent interest rate on the 10-year loan, took place March 20. The previous loan on this property was a $78.6 million, 7 percent mortgage.
On Tuesday, the company completed a $100 million mortgage financing for Penn Square Mall in Oklahoma City.
The interest rate on the 7-year loan is 7.75 percent. The previous loan on this property was a $65.8 million, 7.03 percent mortgage.
Each of these loans was originated by major life insurance companies. No other details were disclosed.



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