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112 Plaza Dr, West Covina, ...

Updated Dec 20, 2023

GE Investors Restructures $794M Loan On 8M SF Retail Portfolio In West Covina, El Cajon, Olympia, Canton, Merrillville, Toledo & North Olmsted
FINANCEDRetail

GE Investors Restructures $794M Loan On 8M SF Retail Portfolio In West Covina, El Cajon, Olympia, Canton, Merrillville, Toledo & North Olmsted

112 Plaza Dr, West Covina, California, USA

$794,000,000

$99/SF

Building Size

8,000,000 SF

Asset Type

Retail

Closing

Oct 22, 2021

About this deal

AI

The portfolio consists of seven regional centers located in California, Indiana, Ohio, and Washington. The properties include Belden Village Mall in Canton, Ohio, with a total area of 829,000 square feet; Capital Mall in Olympia, Washington, spanning 802,000 square feet; Great Northern Mall in North Olmsted, Ohio, covering 1.18 million square feet; Parkway Plaza in El Cajon, California, with an area of 1.32 million square feet; Southlake Mall in Merrillville, Indiana, measuring 1.36 million square feet; Plaza West Covina in Covina, California, spanning 1.21 million square feet; and Franklin Park Mall in Toledo, Ohio, with a total area of 1.31 million square feet. The asset type for these retail properties is categorized as retail, and the total square footage of the portfolio is 8,000,000 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $794,000,000
  • Loan Type: Restructuring
  • Market: West Covina, CA; El Cajon, CA; Olympia, WA; Canton, OH; Merrillville, IN; Toledo, OH; & North Olmsted, OH

The loan amount for this restructuring transaction is $794,000,000. For more information about this loan, please contact [email protected] and [email protected].

Players

Uri Ben-Ezer

Broker

$794M

vol

1 deal

Broker

West Covina Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Deal FAQ

About $99 per square foot on a published $794M for 8,000,000 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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