SANTA MONICA, CA-Mall owner and operator The MaceRich Co. has received $200-million in financing for a regional mall in Cerritos, CA. .The lenders were from Prudential Mortgage Capital Co. and Northwestern Mutual Real Estate Investments LLC, each of which provided $100 million toward the seven-year, fixed-rate mortgage.
Securing the loan is the 1.3-million-square-foot Los Cerritos Center.Retail anchors include Macy’s, Nordstrom and Sears. .
The locally-based owner and operator of regional malls did not return telephone calls for this story by deadline for further information. As of Monday, it was unclear whether MaceRich planned to use the proceeds to retire existing debt on the Los Cerritos Center, or to use the capital for additional purchases, development projects and renovations.
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