JPMorgan Chase Lends $487M For Brooklyn Shopping Mall
FINANCED
$487,000,000
New York
See Similar DealsOther905,000 SF
Financed 12/11/2019
FINANCED
JPMorgan Chase Lends $487M For Brooklyn Shopping Mall
5100 Kings Plaza, Brooklyn, NY 11234, USA
See Similar DealsOther905,000 SF
Financed 12/11/2019
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$538
Total Square Footage:905,000 SF
Transaction Type:Loan
A shopping mall located at 5100 Kings Plaza in Brooklyn has been sold in a closed transaction. The property, owned by Macerich, was purchased for a loan amount of $487,000,000 provided by JPMorgan Chase. The transaction took place on 12/11/2019.
Summary of transaction details
- Property Type: Shopping Mall
- Transaction Amount: $487,000,000
- Address: 5100 Kings Plaza, Brooklyn
- Lender: JPMorgan Chase
- Landlord: Macerich
The shopping mall deal involved JPMorgan Chase as the lender and Macerich as the landlord. The transaction signifies a significant investment in the Brooklyn market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$487,000,000.00
Monthly NOI$3,246,666.67
Monthly Debt Service$3,078,171.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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