Athene Annuity & Life Company Provides $95M Loan For Mall At Chestnut Hill In Newton, MA
199 Boylston Street
$95,000,000
$202/SF
Building Size
470,062 SF
Asset Type
Retail
Closing
Sep 19, 2023
AI
The Mall at Chestnut Hill shopping center, located at 199 Boylston Street in Chestnut Hill, MA, has secured a $95 million loan from Athene Annuity & Life Company. This retail property spans a total area of 470,062 square feet. The borrower, David Simon of Simon Property Group, will utilize the financing to support the operations and development of the shopping center.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $95,000,000
- Address: 199 Boylston Street, Chestnut Hill, MA
- Market: Chestnut Hill, MA
- Lender: Athene Annuity & Life Company - James R. Belardi
- Landlord: David Simon - Simon Property Group
Athene Annuity & Life Company, represented by James R. Belardi, has provided the financing for The Mall at Chestnut Hill in Newton, Massachusetts. This arrangement will facilitate the continued success and growth of the shopping center, further solidifying David Simon's position as the landlord overseeing and managing the retail property.
Players
Chestnut Hill 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93