Pyramid Management Group Refinances Albany's Crossgates Mall With $206.8M Loan From UBS And Doug Tiesi

The transaction involves a refinancing loan secured for Albany's Crossgates Mall and Crossgates Commons, located at 1 Crossgates Mall Road & 161 Washington Avenue Extension. The total loan amount is $206,800,000, aimed at retiring an existing mortgage originally valued at $241.96M that was purchased by Morgan Stanley and Cannae Advisors in 2023.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $206,800,000
• Lender: UBS & Doug Tiesi - Argentic Real Estate Finance
• Landlord: Stephen Congel - Pyramid Management Group
• Loan Type: Refinance

This transaction highlights the involvement of key stakeholders, notably Doug Tiesi, who plays a crucial role as the representative of Argentic Real Estate Finance in the lending process. Stephen Congel represents Pyramid Management Group as the landlord of the asset involved in this refinancing deal.