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Macerich Closes $710M Refi for Tysons Corner Center
Macerich has closed a $710 million refinance for Tysons Corner Center in Northern Virginia. The new CMBS loan, finalized on December 4, features a fixed interest rate of 6.60%, with interest-only payments until its maturity on December 6, 2028. This loan replaces the previous $666 million loan set to mature on January 1, 2024.
The 1.8 million square foot Tysons Corner Center is a retail destination anchored by Nordstrom, Bloomingdale’s, and Macy’s. It also hosts mixed uses like office, residential, and hospitality. The center achieved $1,200 in sales per square foot and boasted a 96% leased occupancy as of Q3 2023.
“Collectively, along with numerous other deals, we have completed $2.7 billion ($1.9 billion at Macerich’s share) of loan transactions in 2023, including the recent renewal of our corporate credit facility, which was closed in September,” said Scott Kingsmore, Macerich’s senior executive vice president and chief financial officer.
- ◦Financing
