CHICAGO- General Growth Properties, Inc., U.S. Bank and RBC Capital Markets announced yesterday that they have closed on a $1.5 billion secured, term loan that will refinance 16 of GGP's U.S. properties.
Both U.S. Bank and RBC Capital Markets acted as joint-lead arrangers and joint bookrunners on the transaction. U.S. Bank was the administrative agent while RBC Capital Markets served as syndication agent. There were 11 other co-lenders.
“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.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
