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GRAND RAPIDS, MICH. — PREIT has received an $80 million loan for the refinancing of Woodland Mall in Grand Rapids. JLL arranged the loan through a national CMBS lender. The five-year loan features a fixed interest rate of 7.35 percent. PREIT says the refinancing will save the company approximately $5 million in interest expense over the life of the loan. The redevelopment of Woodland Mall included new tenants such as Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters.