NIAGARA FALLS, N.Y. — Wien & Malkin Strategic Capital V has participated in a $28 million, preferred-equity investment that recapitalizes Fashion Outlets of Niagara Falls, a 530,000-square-foot shopping center located in Niagara Falls. The property is anchored by Marshall’s and Saks; additional tenants include Polo Ralph Lauren, Brooks Brothers, Nike, Ann Taylor, Tommy Hilfiger, Coach, Old Navy, Burberry, Geoffrey Beene and Revlon. The investment, of which Wien & Malkin contributed $14 million, is for a 2-year term with a 1-year extension option. The funds, combined with new senior financing, are being used to retire a senior loan balance and to complete tenant improvements. The property is owned and operated by Talisman Cos., which purchased it out of receivership 3 years ago and has re-tenanted and renovated it during that time.
146
previous post