News
Chicago Retail

Centennnial-Led JV Lands $100M Refi For Fox Valley Mall

Fox Valley Mall, Aurora, IL
Photo credit: Jauerback/Creative Commons

One year after buying Fox Valley Mall from Westfield as part of a $1.1B portfolio sale, the JV of Centennial Real Estate, Montgomery Street Partners and USAA Real Estate is refinancing the Aurora supermall with a $100M loan.

A lender group of JPMorgan Chase Bank, Aareal Capital and CIT Bank issued the loan, which carries a five-year term with one 24-month extension option. The JV plans to pay off the existing CMBS loan, which it assumed when it bought the 1.4M SF asset in December 2015.

Centennial acquired Fox Valley Mall and Hawthorn Mall in Vernon Hills from Westfield as part of the sale. HFF helped the JV secure the loan, led by Claudia Steeb, Jim Curtin, Brandi Welsch, Timothy Joyce and Christopher Knight.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Philly Retail Momentum Spills From Rittenhouse Into Northern Liberties

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Forget Buildings, Retailers Are Leasing Environments

Immigration Crackdowns Dealt LA Businesses A Multimillion‑Dollar Blow

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords

While Chicago Development Stalls, Fulton Market Keeps Building

AI Has Saved Time But Muddied Traffic Data For CRE Marketing Execs

How JLL Uses Experiences To Give Retail Customers 'A Reason To Be There'

Culver Commons To Bring New Dining, Retail Options To Bustling Suburban Los Angeles Location

Sony Reopening Hollywood ArcLight, Cinerama Dome Theaters

Amazon Close To Deal For Goose Island Warehouse: The Chicago Deal Sheet

Cracker Barrel Closes Sale-Leaseback On 26 Stores, Sells 35 Maple Street Biscuit Restaurants