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David Simon Of Simon Property Group Secures $551.25M Refinance Loan For International Plaza In Tampa

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FINANCED
$551,250,000

Florida

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Retail
Financed 11/10/2025
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FINANCED

David Simon Of Simon Property Group Secures $551.25M Refinance Loan For International Plaza In Tampa

2223 North West Shore Boulevard

See Similar Deals
Retail
Financed 11/10/2025
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Summary

FLORIDA
Asset Type:Retail
Transaction Type:Loan

The asset involved in this transaction is a retail property located at 2223 North West Shore Boulevard in Tampa. It is part of the International Plaza, which has demonstrated robust performance metrics, evidenced by inline sales amounting to $1,539 per square foot and an annual cash flow of $66.15 million. The refinancing deal was secured for a total of $551,250,000, replacing a previous mortgage of $477 million with similar terms structured as a five-year, interest-only loan.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $551,250,000
  • Lender: Goldman Sachs, J.P. Morgan Chase & Wells Fargo
  • Landlord: David Simon - Simon Property Group
  • Loan Type: Refinance
  • Loan Terms: five-year, interest only
  • Previous Mortgage Amount: $477,000,000
  • Cash Out Amount: $81,530,000
  • Inline Sales: $1,539/SF
  • Annual Cash Flow: $66,150,000

This transaction involved key stakeholders including David Simon, representing Simon Property Group as the landlord. The lenders, Goldman Sachs, J.P. Morgan Chase, and Wells Fargo collaborated to facilitate this transaction, allowing for a substantial cash out and underscoring the asset's strong performance in the retail market.

Players

LENDER



Details

FINANCED
IMAGE: David Simon DATE: 11/10/2025 ADDRESS: 2223 North West Shore Boulevard MARKET: Tampa ASSET TYPE: Retail LENDER: Goldman Sachs (@GoldmanSachs), J.P. Morgan Chase (@JPMorgan) & Wells Fargo (@WellsFargo) LANDLORD: David Simon - Simon Property Group (@SimonPropertyGroup) LOAN AMOUNT: $551,250,000 LOAN TYPE: Refinance LOAN TERMS: five-year, interest only NOTE: Simon Property Group’s Taubman Realty refinanced International Plaza in Tampa with a $551.25M interest-only, five-year loan from Goldman Sachs, JPMorgan, and Wells Fargo, replacing a $477M mortgage. Strong mall performance, including $1,539/SF inline sales and $66.15M annual cash flow, allowed Taubman to take $81.53M cash out of the property.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$551,250,000.00

Monthly NOI$3,675,000.00
Monthly Debt Service$3,484,274.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00