Macerich is refinancing the Queens Center, a shopping mall in Elmhurst, New York, thanks to scoring a $525 million loan.
The loan carries a fixed interest rate of 5.37 percent, with a five-year term. Plus, it will include interest-only payments.
Jack Hsieh, president and CEO of Macerich noted that the rate was the for refinancing that the REIT has been granted since 2019 and that the Queens Center has been "consistently one of the best-performing properties in our entire portfolio."
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