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Lend Lease Secures $185 Mil in First Mortgages

NEW YORK CITY-Lend Lease Real Estate Investments has secured financing for three retail malls on behalf of Lend Lease's Prime Property Fund through a transaction underwritten by Deutsche Banc Alex Brown here.

By Amy Vaughn | Updated on July 20, 2001

NEW YORK CITY-Deutsche Banc Alex Brown here has underwritten a transaction making available $185 million in financing in the form of first mortgages for three malls. Lend Lease Real Estate Investments secured the financing on behalf of Lend Lease’s Prime Property Fund.

The malls receiving their first mortgages are Fox Run Mall in Newington, NH; Westland Shopping Center in Westland, MI; and Roseland Shopping Center in Roseville, MN. The three malls total 2.8 million sf, with 12 anchor stores among them. Fox Run and Westland recently were renovated with more than $7 million in capital improvements to common areas. The three have almost one million sf of owned in-line space.

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