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Rouse defaults on loan secured by Texas mall

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Rouse defaults on loan secured by Texas mall

Rouse PropertiesInc. failed to repay the loan secured by its Vista Ridge Mall in Lewisville, Texas, by the April5 maturity date.

The company, in reporting its first-quarter results, said thelender informed it of the default April 19.

Rouse said it is "working vigorously" with the lenderto convey the asset in full satisfaction of the debt.