Caruso Secures $450M Loan To Refinance Mixed-Use Property In Glendale, CA | 889 Americana Way | Mixed-use | Loan

Summary

Loan

CALIFORNIA

Mixed-use

1,000,000 sqft

The Americana at Brand, a mixed-use property located at 889 Americana Way in Glendale, California, has secured a $450 million loan for refinancing the retail portion. The property spans 1,000,000 square feet and features high-profile tenants such as Apple and Gucci. It has maintained an impressive 98 percent occupancy rate between 2015 and 2022.

Summary of transaction details:

Property Type: Mixed-use
Transaction Amount: $450,000,000
Address: 889 Americana Way, Glendale
Market: Glendale
Square Footage: 1,000,000

In order to refinance the retail portion of The Americana at Brand, Caruso has secured the loan from Morgan Stanley and Goldman Sachs. Rick Caruso, the landlord, played a key role in the transaction.

Details

Deal Summary

FINANCED

IMAGE: Rick Caruso DATE: 07/13/2023 ADDRESS: 889 Americana Way MARKET: Glendale ASSET TYPE: Mixed-use ~ SF: 1,000,000 LENDER: Morgan Stanley & Goldman Sachs LANDLORD: Caruso - Rick Caruso LOAN AMOUNT: $450,000,000 LOAN TYPE: Refinance NOTE: Caruso has secured $450 million from Morgan Stanley and Goldman Sachs to refinance the retail portion of The Americana at Brand in Glendale, California, a mixed-use property with high-profile tenants like Apple and Gucci. The property boasts 570,000 square feet of retail space and has maintained a 98 percent occupancy rate between 2015 and 2022.

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Address889 Americana Way

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