Unibail-Rodamco-Westfield Secures $525M Refinance Loan For Garden State Plaza In Paramus, NJ

Unibail-Rodamco-Westfield has secured a $525 million refinancing for its Garden State Plaza shopping mall in Paramus, New Jersey. The loan was obtained from Goldman Sachs, Deutsche Bank, and Natixis Real Estate Capital. The five-year loan has a coupon of 6.75 percent and allows for interest-only payments during the term. The funds will be used to pay off the existing mortgage debt on the property. Garden State Plaza Boulevard, located in Paramus, has a total area of 2,060,000 square feet and is classified as a retail asset. It is owned by Unibail-Rodamco-Westfield and Jean-Marie Tritant is their representative in the deal.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $525,000,000
• Address: 1 Garden State Plaza Boulevard, Paramus
• Market: Paramus
• Lender: Goldman Sachs, Deutsche Bank, Natixis Real Estate Capital
• Landlord: Unibail-Rodamco-Westfield - Jean-Marie Tritant
• Loan Type: Refinance
• Loan Terms: Five-year term with interest-only payments, 6.75 percent coupon

This financing deal involves Unibail-Rodamco-Westfield and Jean-Marie Tritant in their capacity as the property's landlord and representative, respectively. The loan from Goldman Sachs, Deutsche Bank, and Natixis Real Estate Capital allows for the refinancing of Garden State Plaza shopping mall in Paramus. With a total area of 2,060,000 square feet, the retail asset has recorded a total sales volume of $893.1 million in the last 12 months.