Dartmouth Mall takes out a loan worth millions

The owner of Dartmouth Mall has taken out a $56 million loan to reduce high-cost debt and increase financial flexibility, announced owner Pennsylvania Estate Investment Trust.  

The ten-year loan will help pay off the company's higher-interest debts and reduce their annual interest, saving $2.1 million a year to help develop the mall. 

“We’re happy to see that they’re looking at their operations and hopefully reinvesting in the mall in the future,” said Town Administrator Cody Haddad. 

The Dartmouth mall is now the only enclosed mall in a 20-mile radius, following the closing of the Swansea Mall and Silver City Galleria.