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Tysons Corner refinances with $850 million loan

Milwaukee — Northwestern Mutual, Prudential Mortgage Capital Company and TIAA-CREF have announced that each has provided $283.3 million for a total of $850 million to refinance Tysons Corner Center, the 1.9-million sq.-ft. super regional mall in Tysons Corner, Va., owned by the Macerich Company.

The 10.3-year loan carries a 4.10% rate of interest. Not included in the collateral, but key to the property’s investment appeal are a 22-story class-A office tower, a 429-unit, 30-story apartment tower and a 17-story hotel currently under development on the property. A 55,000-sq.-ft. pedestrian plaza will connect the new buildings as well as a newly constructed mall entrance and a newly developed Metrorail station and bus station. Macerich expects the new transit facilities to deliver more than 5,000 passengers per day to Tysons Corner.

© 2014