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Dartmouth, Mass. — PREIT has received a $56 million loan for the financing of Dartmouth Mall, a 671,000-square-foot regional mall in Dartmouth. PREIT used the funds to pay down its First Lien Term loan, which is expected to generate $2.1 million in annual interest savings. The ten-year loan carries a 7.1 percent interest rate for the first five years and matures in October 2035.
Dartmouth Mall will add the region’s first Boot Barn to its tenant lineup, along with Locker Room by Lids and Chick-fil-A, which recently joined the center. Additional retailers and restaurants include Burlington, ALDI, Ulta Beauty, AMC Theatres, H&M, Five Below, Old Navy, Macy’s, JCPenney, Buffalo Wild Wings, Olive Garden, Panera Bread, Taco Bell and Auntie Anne’s.