(Read more on the debt and equitymarkets.)
MEMPHIS-Marking the first transaction between the twopowerhouses, GE Real Estate has provided a $225-million CMBS loanto Simon Property Group for the refinancing of Wolfchase Galleria.The 10-year, fixed-rate loan was originated by GE's StrategicCapital Group.
Wolfchase Galleria, at 2760 N. Germantown Pkwy., encompasses 1.2million sf across two levels. Built in 1997, the retail asset isthe only four-anchor mall in the region, according to GE RealEstate. The anchors are Dillards, JC Penney, Macy's and Sears. Theproperty is currently 97% leased with 123 tenants, includingAmerican Eagle Outfitters, Pottery Barn, Gap, Thomas KinkadeGallery and the Disney Store.
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