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Taubman Centers gets $1 billion loan for New Jersey mall refinance

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Katherine Chiglinsky Bloomberg News - MetLife Inc. is among insurers providing a $1 billion loan to refinance Taubman Centers Inc.’s Mall at Short Hills, a 1.4 million-square-foot luxury shopping center in New Jersey. New York Life Insurance Co. and Pacific Life Insurance Co. are also part of the group on the 12-year mortgage at 3.48 percent, New York-based MetLife said Wednesday in a statement. Proceeds from the loan were used to repay a $540 million mortgage that had a 5.47 percent rate, Bloomfield Hills-based Taubman said

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