CBL Properties secured a $71.9 million non-recourse loan for Hamilton Place, a shopping center located in Chattanooga, Tennessee. The loan is secured by the property itself, meaning CBL Properties is not personally liable for the debt.
The agreement finalizes the financial arrangement between CBL Properties and the lender. The non-recourse nature of the loan limits the lender’s claim to the Hamilton Place property in the event of default. This type of loan is often used in real estate financing to protect the borrower’s other assets.
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