REBusinessOnline

QUEENS CENTER RECEIVES $130 MILLION REFINANCING

NEW YORK CITY — The Macerich Company has reached an agreement for a $130 million loan that will be used to refinance a portion of Queens Center in New York City. The loan is expected to close in early 2009, and it features a 7.5 percent fixed interest rate. It is co-terminus with a $214 million loan for expanded portions of the property that will mature in 2013. Upon closing of the new loan, an existing $89 million loan with a 7.11 percent effective interest rate will be paid off. The lenders are relationship life insurance companies and a pension fund.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties