Alexander Haagen Properties announces new financing.MANHATTAN BEACH Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. , Calif.--(BUSINESS WIRE)--March 16, 1995-- Alexander Haagen Properties Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to ) Thursday announced that it has successfully placed $56.9 million of 10- to 15-year fixed-rate mortgage financing at slightly under a 9 percent interest rate and fully retired the outstanding credit line balance of $47.5 million. Chairman and Chief Executive Officer Alexander Haagen stated, "We are currently working on obtaining a new credit line of $75 million, which we anticipate will be at significantly more favorable rates." Haagen said the credit line would be used for expansion and new acquisition opportunities. Alexander Haagen Properties, a fully integrated, self-managed real estate investment trust, is a leading developer, owner and manager of retail shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , primarily in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . The company now owns or controls 40 properties, including 15 neighborhood/community shopping centers, six promotional/power centers, three enclosed malls and 16 single-tenant centers. CONTACT: Alexander Haagen Properties Inc., Manhattan Beach Fred Bruning/Lorie Schkud, 310/546-4520 |
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