NEW YORK CITY-Special servicer Talmage LLC has modified and restructured the $291-million Cadillac Mills Portfolio loan. The three regional malls, which total 2.8 million square feet, include The Esplanade in Kenner, Louisiana, the Galleria at White Plains in White Plains, New York, and Northpark Mall in Ridgeland, Mississippi.
Farallon Capital Management and Simon Property Group took hold of the properties when they purchased the Mills Corp. in 2007 for about $1.6 billion. For the full story, go to Commercial Property Executive .
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