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$225M Refinances 1M-SF Regional Mall

MEMPHIS-The 10-year, fixed-rate loan for Wolfchase Galleria is the first between GE Real Estate and Simon Property Group.

By Melissa Kress | Updated on April 23, 2007

(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.

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