Brookfield Properties Retail Secures $215 Million Loan For The Parks Mall At Arlington

The Parks Mall at Arlington, located at 3811 South Cooper Street in Arlington, features 1,500,000 square feet of retail space. The property has recently secured a refinancing package amounting to $215 million, enabling ongoing renovations valued at $45 million which include repurposing an 82,000-square-foot area and relocating Dick’s Sporting Goods into a new 120,000-square-foot space.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $215,000,000
• Lender: Dan Heflin - Torchlight Investors; Bill Huffman - Nuveen
• Landlord: Brian Kingston & Bruce Flatt - Brookfield Properties Retail; Adam Gallistel & Andrew Glanzman - CBRE Investment Management
• Brokers: Adam Spengler, Henry Fenmore, Thomas Traynor & Tom Rugg - CBRE
• Loan Type: Refinance
• Loan Terms: four-year, fixed-rate

The deal involves significant figures such as Dan Heflin and Bill Huffman acting as lenders, while Brian Kingston and Bruce Flatt represent Brookfield Properties Retail as landlords. Adam Gallistel and Andrew Glanzman represent CBRE Investment Management, who are also involved in the transaction. The brokerage team from CBRE facilitated the negotiations, highlighting the collaborative effort of the professionals engaged in this refinancing endeavor.