Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

U.S. Bank involved in big mall refinancing

Posted by: Janet Moore Updated: May 2, 2013 - 5:12 PM

Mall giant General Growth Properties Inc. recently refinanced 16 of its U.S. properties in a $1.5 billion deal announced this week.

Chicago-based General Growth worked with U.S. Bank and RBC Capital Markets, which took the lead in the refinancing, although there were 11 other co-lenders, as well.

Of the 16 shopping malls involved in the deal, only one is in Minnesota -- the River Hills Mall in Mankato.

Joe Hoesley, vice chairman of Commercial Real Estate at U.S. Bank, said 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."

Janet Moore covers commercial real estate for the Star Tribune.

 

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