The mortgage carries a rate of LIBOR plus $1.95%, which results in an initial interest rate of 3.79%. It matures Aug. 1, 2004 and includes a one-year extension option.
The properties on which the mortgage was obtained are: 16,000-sf Stewart Plaza community center in Mansfield, OH; 112,000-sf Clarksville Plaza in Clarksville, IN; 103,000-sf Morgantown Plaza in Morgantown, WV, and 161,000-sf Twin County Plaza in Galax, VA.
The Glimcher portfolio includes 22 regional and super-regional malls and 89 community centers and single-tenant retail properties.
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