News
$21M Loan Closed For Everett Mall Acquisition
January 9, 2019
Courtesy of JLL
Everett Mall
UC Funds recently closed a $21M first mortgage loan that will be used to recapitalize the acquisition of the 491K SF Everett Mall. Brixton Capital acquired the Everett Mall in 2017 for $36.4M, according to The Registry.
The 2017 purchase did not include the entire mall. The Macy’s building was not included in the original 2017 transaction, but 12 parcels of the mall were part of the sale.
The mall is at 1402 SE Everett Mall. The contiguous shopping center is occupied by 68 major tenants and 38 specialty spaces. Anchors include Sears, Regal Cinemas, LA Fitness and Burlington, Ulta and Old Navy. The mall sits on a 62-acre site.
The loan is part of UC Funds’ annual closing volume of more than $280M.
