Argentic Real Estate Finance And Principal Life Insurance Co Refinance Westroads Mall For $67M

The asset involved in this transaction is a retail property located at 10000 California Street, Omaha, NE. The loan amount for refinancing this property is $67,000,000. This transaction is part of a refinancing effort that replaces an existing CMBS mortgage with a new loan structure.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $67,000,000
• Lender: Argentic Real Estate Finance & Principal Life Insurance Co
• Landlord: Lowell Baron - Brookfield Properties
• Loan Type: Refinance
• Previous CMBS Mortgage: $76.17 million (COMM 2012-LTRT)
• New Loan Coupon Rate: 7.478%
• Mezzanine Loan Amount: $12 million

This transaction was facilitated by Argentic Real Estate Finance, which provided $67 million in senior financing. Principal Life Insurance Co. contributed an additional $12 million through a mezzanine loan. The refinancing effort aims to retire the existing higher coupon debt and improve cash flow management for the property.