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FREDERICK, MD. — Pennsylvania Real Estate Investment Trust has closed a $55 million non-recourse mortgage loan for Francis Scott Key Mall. The 711,000-square-foot Frederick mall is 92.3 percent occupied and is anchored by JC Penney, Macy’s and Sears. Financing for the 5-year loan was provided by a commercial bank. The loan carries a fixed interest rate of 5.24 percent.