ROUSE SECURES $78.8M FOR SOUTHLAND CENTER

by admin

TAYLOR, MICH. — Rouse Properties has secured a $78.8 million mortgage loan for Southland Center, a 900,000-square-foot enclosed mall in Taylor. Anchors at the mall on Eureka Road include Macy's and JC Penney. Recently, retailer Forever 21 signed a lease to take over a former 22,500-square-foot Borders space at the property. The 10-year, non-recourse loan bears interest at a fixed rate of 5.09 percent.

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