Jared Chupaila Of PREIT Secures $80M Refinancing For Woodland Mall In Grand Rapids, MI

The property asset involved in this transaction is a retail space located at 3195 28th Street Southeast, Grand Rapids, MI. The refinancing loan of $80,000,000 specifically pertains to the Woodland Mall, which has undergone redevelopment, attracting new tenants such as Von Maur and Sephora. The loan features a five-year term with a fixed interest rate of 7.35%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $80,000,000
• Lender: cmbs-69911099-5ee7-4b72-95af-a22d8385e263-duplicate''>CMBS
• Landlord: Jared Chupaila - PREIT
• Loan Type: Refinance
• Loan Terms: five-year

Jared Chupaila represents PREIT in this deal, which was arranged by JLL through a national CMBS lender. This refinancing loan is projected to save the company $5,000,000 in interest following the mall's redevelopment.