Macerich has completed the acquisition of Fashion Outlets of Niagara Falls, an outlet center. The seller was a subsidiary of AWE Talisman, which sold the outlet for about $200 million.
The transaction included the assumption of existing debt of $121 million at a 5.9% interest rate scheduled to mature on Oct. 1, 2020. The center is almost fully occupied, with tenants including Nike, Old Navy, Tommy Hilfiger, Brooks Brothers, Calvin Klein, Hugo Boss, Banana Republic and Burberry.
Click here for the release from PR Newswire.