JPMorgan Chase Lends $487M For Brooklyn Shopping Mall
5100 Kings Plaza, Brooklyn, NY 11234, USA
$487,000,000
$538/SF
Building Size
905,000 SF
Asset Type
Other
Closing
Dec 10, 2019
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93