The Real Deal Miami

Aventura Mall owners get extra loan of $770M

December 20, 2013 03:00PM

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Aventura-Mall

19501 Biscayne Boulevard in Miami (Credit: Haute Living)

A group of banks helped Aventura Mall Venture’s mortgage grow to $1.2 billion.

Turnberry Associates and Simon Property Group, partners in the venture, received a $770 million loan through a commercial mortgage-backed securities trust, the South Florida Business Journal reported. Lenders included Morgan Stanley, JPMorgan Chase Bank, Wells Fargo Bank and German American Capital Corp.

The 2.1 million-square-foot mall at 19501 Biscayne Boulevard is one of the most visited in the U.S. The loan covers expenses for almost half of the space – 1 million square feet. The site – anchored by Bloomingdale’s, J.C. Penney, Sears, Nordstrom and Macy’s – is 0.2 percent away from being fully leased. [South Florida Business Journal]Mark Maurer

  • a great mall, but parking during the Holiday’s is awful – and that’s even after they built the garages- use the valet

  • David

    It’s a clown show there with all the phony SY’s and the south American women that are 50 & wearing belly shirts and look like plastic mummies trying to compete with their daughters. Better entertainment than the movies.

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