The Real Deal New York

Owner of Throggs Neck Shopping Center gets $69M refi

CMBS loan is for 10 years and closed at a 5 percent rate
March 23, 2018 02:45PM

Throggs Neck Shopping Center (Credit: Google Maps)

Simone Development has landed a loan of $68.5 million from French investment bank Natixis for the Throggs Neck Shopping Center in the Bronx.

The CMBS loan is for 10 years featuring interest-only payments, and it closed at a 5.17 percent rate, according to the Commercial Observer.

The deal was brokered by Meridian Capital Group.

The mall includes 300,000 square feet of retail across four buildings, and it is anchored by a Target spanning 165,000 square feet. Other tenants include Mattress Firm, TJ Maxx and Famous Footwear.

The shopping center is based just south of the intersection of the Hutchinson River and Cross Bronx Expressways. [CO]Eddie Small