02:51 PM EDT, 07/08/2025 (MT Newswires) -- CBL Properties (CBL) said Tuesday it closed on a $78 million non-recourse loan backed by the Cross Creek Mall located in Fayetteville, North Carolina.

The new five-year loan bears a fixed interest rate of around 6.9%, the company said, adding that the loan proceeds were used to retire an existing $81.9 million loan guaranteed by the property, which had an interest rate of about 8.2% and was due to mature in August.

Shares were up 1.5% in recent trading.

Price: 25.93, Change: +0.38, Percent Change: +1.49