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Simon Property Group Secures $175 Million Refinancing For Northshore Mall In Peabody, MA
FINANCED
$175,000,000
Massachusetts
See Similar DealsRetail
Financed 02/02/2026
FINANCED
Simon Property Group Secures $175 Million Refinancing For Northshore Mall In Peabody, MA
210 Andover Street
See Similar DealsRetail
Financed 02/02/2026
Summary
MASSACHUSETTS
Asset Type:Retail
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$175,000,000.00
Monthly NOI$1,166,666.67
Monthly Debt Service$1,106,119.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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