Ramco-Gershenson Properties Trust closed on a new $31.3 million CMBS loan with JPMorgan secured by its West Oaks II shopping center in Novi, Michigan and its Spring Meadows Place center in Holland, Ohio.

The $31.3 million financing represents a loan to value of approximately 60% for the two properties and has a ten-year term with a fixed interest rate of 6.5%.

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