Simon Property Group Secures $175 Million Refinancing For Northshore Mall In Peabody, MA

The asset involved in this transaction is a retail property located at 210 Andover Street in Peabody, MA. The property encompasses 1.1 million square feet and is part of the Northshore Mall. The refinancing secured amounts to $175,000,000.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $175,000,000
• Address: 210 Andover Street
• Market: Peabody, MA
• Lender: German American Capital & J.P. Morgan Chase
• Landlord: David E. Simon - Simon Property Group
• Loan Type: Refinance

The refinancing deal involves Mayflower Realty, a joint venture between Simon Property Group and CPPIB. This partnership facilitated the securing of the loan from the lenders, demonstrating collaboration among significant players in the real estate finance market.