January 6, 2017
Centennial Real Estate Co. and partners Montgomery Street Partners, USAA Real Estate Co. and Westfield America secured $100 million in refinancing for the Fox Valley Mall in Aurora, IL. HFF secured the financing of the 1.4-million-square-foot regional mall with a lender group led by J.P. Morgan Chase.
HFF’s Claudia Steeb, Jim Curtin, Brandi Welsch, Timothy Joyce and Christopher Knight arranged the five-year loan, which has a 24-month extension. The financing is being used to pay off the existing CMBS loan on the mall, which was assumed when the partnership acquired the property on Interstate 88.
Fox Valley Mall, in the Chicago MSA, is 93% leased to national tenants and four anchors – Carson Pirie Scott, Macy’s, Sears and JC Penney. The asset is situated on 43 acres at 195 Fox Valley Center Dr.
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