ST. LOUIS — CBL Properties (NYSE: CBL) has received a $135 million refinancing of its mortgage loan for West County Center, a regional mall located in St. Louis.
The new loan, which replaces an existing $136.4 million loan that was scheduled to mature in December, carries a five-year term with a fixed interest rate of 7.4 percent.
After repayment of the maturing loan and the release of existing escrow balances, CBL received roughly $2 million in net proceeds from the new financing. The financing also removes the cash management sweep associated with the prior loan, which will result in an estimated $7 million in annual free cash flow for CBL going forward.
With the refinancing, CBL Properties has addressed its final near-term debt maturity, according to the company.
West County Center totals almost 1.2 million square feet. Anchor tenants at the property include Macy’s, Dick’s Sporting Goods and the only Nordstrom store in the state. In 2026, new leases have been executed with The Cheesecake Factory, Free People Movement, Levi’s, L’Occitane en Provence, POPMART, Miss A and Urban Outfitters, among other retailers.
CBL acquired its joint venture partner’s interest in the mall and two other retail properties in 2024 for a total $22.5 million.
Headquartered in Tennessee, CBL owns and manages a national portfolio of primarily retail assets. CBL’s current portfolio comprises 88 properties totaling 54.5 million square feet across 23 states.