David Simon Of Simon Property Group Secures $178M Loan For Ellenton Premium Outlets Refinancing
5461 Factory Shops Boulevard
$178,000,000
$373/SF
Building Size
476,487 SF
Asset Type
Retail
Closing
Dec 5, 2025
About this deal
AI
This transaction involves a retail property located at 5461 Factory Shops Boulevard in Ellenton, Florida. The asset spans a total of 476,487 square feet and is part of a center that is currently 83% leased. The refinancing of this property was executed with a large loan amount of $178,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $178,000,000
- Address: 5461 Factory Shops Boulevard
- Market: Ellenton
- Asset Size: 476,487 sq. ft.
- Lender: Bank of America & Société Générale
- Landlord: David Simon - Simon Property Group
- Major Tenants: VF Factory Outlet, Saks Off 5th, Kate Spade, Coach, Polo Ralph Lauren, and Adidas
- Mid-Year Net Cash Flow: $8.07M
The deal involved Simon Property Group, which is represented by David Simon, who serves as the landlord. The refinancing was aimed at retiring three CMBS notes associated with the retail center, showcasing the financial activities surrounding the property.
On the Map
$178,000,000
$373/SF
Retail
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Players
Ellenton Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93