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SmartCentres REIT repays C$213 million in secured mortgage debt

SmartCentres REIT said it recently repaid about C$213 million in mortgage debt secured by 13 retail assets with a total estimated fair value of roughly C$720 million.

The Canadian shopping center real estate investment trust funded the repayment using amounts drawn from its unsecured revolving credit facility.

The company's unencumbered assets have an estimated fair value of about C$5.5 billion upon repayment of the secured loans.