MAC - Macerich Completes $710 Million Refinancing of Tysons Corner Center | Benzinga
SANTA MONICA, Calif., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail and mixed-use properties in top markets, today announced that Macerich's joint venture that owns Tysons Corner Center has just closed a $710 million refinance on this high-quality property in Northern Virginia.
The new CMBS loan, which closed on Monday, Dec. 4, bears a fixed interest rate of 6.60% with interest-only payments throughout the loan term, matures on Dec. 6, 2028, and replaces an existing $666 million loan that was scheduled to mature on Jan. 1, 2024.
Tysons Corner Center is a 1.8 million square foot, super-regional retail powerhouse anchored by Nordstrom, Bloomingdale's and Macy's that attracts 16 million annual visits. While not serving as collateral for this new loan, the property is also home to ...