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199 Boylston Street

Athene Annuity & Life Company Provides $95M Loan For Mall At Chestnut Hill In Newton, MA
FINANCEDRetail

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

Simon Property Group
Simon Property GroupBrokerage
Athene
AtheneLender

David Simon

Simon Property Group

Landlord

$4B

vol

6 deals

Landlord

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