$300M loan comes due on SoCal suburban mall, new JV buyer in workout negotiations
A $300 million loan on a megamall located in Lakewood, a suburb near Long Beach, comes due soon — and it is the largest June hard maturity, according to Trepp. A default appears unlikely. There are no missed payments, and a loan workout is in talks. Macerich owned the mall before selling it to a joint venture of Pacific Retail Capital Partners, Lyon Living and Silverpeak last summer for $332 million. The price tag included the assumption of a $317 million loan on the real estate, according to a Securities and Exchange Commission filing dated mid-August. The loan had an […]This article originally appeared on The Real Deal. Click here to read the full story.
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