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Shoppers’ spending intentions contradict NRF holiday forecast
Shoppers responding to a recent National Retail Federation survey said they expect to spend slightly less this holiday season in contrast to an earlier economic forecast by the trade group which indicated spending during November and December would rise by 3.9%.
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CBL closes $80 million loan secured loan
Chattanooga, Tenn. — CBL & Associates Properties, Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 75/25 joint venture with Horizon Group Properties. The 10-year loan bears a 4.9% fixed interest rate. Proceeds from the loan were used to repay a $53.2 million recourse construction loan. CBL www.cblproperties.com used its share of the remaining funds to reduce outstanding balances on the company’s unsecured credit facilities.