Skip navigation
General Growth Properties Secures $1.5B Term Loan

General Growth Properties Secures $1.5B Term Loan

U.S. Bank and RBC Capital Markets provided a $1.5 billion secured term loan to General Growth Properties to refinance 16 of the REIT’s properties. There were 11 other co-lenders in the facility.

U.S. Bank served as a joint lead arranger, joint bookrunner and administrative agent in the transaction. RBC Capital Markets was a joint lead arranger, joint bookrunner and syndication agent.

“We are pleased to complete this transaction for GGP, a long-time client of U.S. Bank,” said Joe Hoesley, vice chairman of commercial real estate at U.S. Bank, in a statement. “Together with our partners, we were able to raise over $1.8 billion in commitments for this credit facility, demonstrating the strong appetite lenders have for quality commercial real estate assets.”

 

 

TAGS: REITs Retail
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish