Eli Simon Of Simon Property Group Secures $555 Million Refinance Loan For Dadeland Mall In Miami
7535 North Kendall Drive
$555,000,000
$370/SF
Building Size
1,500,000 SF
Asset Type
Retail
Closing
Nov 10, 2026
About this deal
AI
The property asset involved is the Dadeland Mall, situated at 7535 North Kendall Drive in Miami, FL, comprising a total square footage of 1,500,000. This retail property is involved in a refinance transaction valued at $909 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $555,000,000
- Lender: Wells Fargo, Bank of Montreal (BMO), J.P. Morgan Chase
- Landlord: Eli Simon - Simon Property Group; Prime Property Fund
- Loan Type: Refinance
- Loan Terms: 10-year, fixed-rate, interest-only
- Debt Refinanced: $345,000,000
- Equity Returned to Owners: $200,000,000
- Expected Closing Date: December 3
The key individuals and companies involved in this transaction include Eli Simon, representing Simon Property Group, and Prime Property Fund, which are securing the CMBS loan. The lenders facilitating this transaction are Wells Fargo, Bank of Montreal, and J.P. Morgan Chase Bank.
On the Map
$555,000,000
$370/SF
Retail
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Cape Town 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93