Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the debt and equity markets.)

MEMPHIS-Marking the first transaction between the two powerhouses, GE Real Estate has provided a $225-million CMBS loan to Simon Property Group for the refinancing of Wolfchase Galleria. The 10-year, fixed-rate loan was originated by GE’s Strategic Capital Group.

Wolfchase Galleria, at 2760 N. Germantown Pkwy., encompasses 1.2 million sf across two levels. Built in 1997, the retail asset is the only four-anchor mall in the region, according to GE Real Estate. The anchors are Dillards, JC Penney, Macy’s and Sears. The property is currently 97% leased with 123 tenants, including American Eagle Outfitters, Pottery Barn, Gap, Thomas Kinkade Gallery and the Disney Store.

“We appreciate the opportunity to fund this investment for Simon Property Group, which has a leading reputation for assessing and optimizing the underlying value of high-quality retail assets,” says Alec Burger, SVP, North America Lending at GE Real Estate. “Their track record of developing premier assets that are in demand by consumers and tenants results in properties that carry strong fundamentals and compelling economics.”

According to Simon’s website, 33% of the households in Wolfchase Galleria’s trade area have an income of at least $75,000. Further stats on the site put the trade-area population at 604,026 and trade-area households at 229,445.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.