SCHAUMBURG, IL-The Woodfield Mall, a 2.3-million-square-foot property in Schaumburg, has been refinanced with $425 million in loans. Boston-based AEW Capital Management LP secured a $212.5-million loan from Newark, New Jersey-based Prudential Insurance Co. of America and the same amount of loan from Milwaukee-based Northwestern Mutual Life Insurance Co. for the mall.
Detroit-based General Motors Pension Trust and Sacramento, California-based California Public Employees' Retirement System (CalPERS) are the owners of the mall, which was developed in 1971 by Bloomfield, Michigan-based Taubman Centers Inc. For the full story, go to Crain's Chicago Business .
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