Countrywide Commercial Real Estate Finance closed a $320 million dollar loan to fund the acquisition of six regional malls in the Southeast United States. Expanding into the commercial real estate retail market, Countrywide provided six loans to the joint-venture of General Properties Trust, Babcock & Brown and Colonial Properties Trust. Malls included in the deal are the Colonial Mall chain in Mobile, Alabama, Greenville, North Carolina, Brunswick, Georgia, Valdosta, Georgia, Myrtle Beach, South Carolina, and Auburn, Alabama. In a statement, Boyd Fellows, Managing Director of Countrywide Commercial said, “Countrywide Commercial established a national presence in its first year of operation due to a deep understanding of the markets it serves and the power of Countrywide’s brand.” The deal was closed by Bill Lafferty, Senior Vice President of Countrywide Commercial.
