Mall Obtains $100 Million Mortgage Loan

In a deal encompassing a Who’s Who list of pension fund ownership, Northwestern Mutual has closed on a $100-million first mortgage loan secured by a major regional mall. The 1.01 million-sf Mall at Rockingham Park is located one mile north of the Massachusetts border and 32 miles from Boston. Sears, Filene’s, Macy’s and J.C. Penney anchor the retail complex, which attracts a significant draw from across the border. It features 142 in-line stores and a total of 383,000 sf of space.

The borrower is an entity controlled by the California Public Employees Retirement System and Mayflower Realty LLC. Along with the Simon Property Group, a leading retail REIT, Mayflower’s ownership includes Teachers Insurance and Annuity Association, the New York State Teachers Retirement System and J.P. Morgan. Simon also manages the mall.