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Rouse Inks $65M Lakeland Mall Refi

LAKELAND, FL—Lakeland Square Mall is the only enclosed regional mall within a 30-mile radius. Get the skinny on the terms of Rouse's latest refi on the shopping center.

By Jennifer LeClaire | Updated on March 07, 2013

LAKELAND, FL—Rouse Properties closed on a $65 million mortgage loan against Lakeland Square Mall. The non-recourse loan bears interest at a fixed rate of 4.17% and matures in 10 years.

The dominant shopping center located along the Interstate 4 corridor between Orlando and Tampa, FL, the asset was previously financed with a $50.3 million mortgage loan at an interest rate of 5.12%. Net proceeds to the company after related closing and defeasance costs were about $13.4 million.

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