NIAGARA FALLS, N.Y. — A $122.5 million Fashion Outlets of Niagara Falls loan is set to mature Oct. 1 of next year.
Mall owner Macerich (NYSE: MAC) secured the loan in October 2010, according to financial filings, and since has paid off about $31.3 million. The outstanding balance was about $91 million as of this month.
The loan, which was originated by lender GACC, is held in a portfolio of similar property mortgages that have been sold off in shares — or commercial mortgage-backed securities (CMBS) — to investors, according to recent filings to bond investors.
Read the full story from our partners at Buffalo Business First.
