Macerich 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 bears a fixed interest rate of 6.6 percent 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 numerous mixed uses, including office, residential and hospitality. Consistently among Macerich’s Top 10 Regional Town Centers, Tysons Corner Center generates $1,200 sales per square foot and had leased occupancy of 96 percent as of third quarter 2023.
“We are very pleased to complete this large refinancing, w
