FOREST CITY REFINANCES TIMES SQUARE ENTERTAINMENT PROPERTY

by admin

NEW YORK CITY — Forest City Enterprises has procured an $85 million loan for the refinancing of its 42nd Street entertainment retail property, which is located in the heart of Times Square. Tenants at the 312,000-square-foot property include AMC Theatres, Madame Tussaud's Wax Museum, Modell's, and Dave and Buster's. The loan carries a 10-year term and a fixed interest rate that is more than 325 basis points lower than the loan it replaces.

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