In Brief: Calif. Financier Lends $30M to Mall in Texas

WMF Group Ltd. closed a $29.6 million bridge loan on a shopping center in Arlington, Tex.

The loan was funded by a real estate investment trust managed by a WMF subsidiary. It has a term of two and a half years, with two six-month extension options, and an interest rate set at 340 basis points above the one-month London interbank offered rate. The property was 87% occupied at closing.

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