Brookfield Properties Refinances San Francisco's Stonestown Galleria Mall For $190M With Deutsche Bank, Wells Fargo, And Barclays

Brookfield Properties has closed a $190 million deal to refinance the Stonestown Galleria mall in San Francisco. The loan, secured through a commercial-mortgage backed securities package, was provided by Deutsche Bank, Wells Fargo, and Barclays. The refinance transaction offers a 7.91 percent interest rate for a nine-year term.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $190,000,000
• Address: 3251 20th Avenue, San Francisco
• Market: San Francisco

Key individuals and companies involved in this deal include Brookfield Properties as the landlord and Brian Kingston as the representative from Brookfield Properties. The loan was provided by Deutsche Bank, Wells Fargo, and Barclays.

It's worth noting that this refinancing transaction comes at a crucial time for Brookfield Properties, as they are facing financial challenges and defaults on other retail properties. However, the revenues of Stonestown Galleria have bounced back significantly, rising from $13.7 million in 2021 to $20.6 million in 2022.