The owner of Westfield Century City mall is securing a nearly $1 billion financing windfall for the second time in two years, returning more equity to the owner. Unibail-Rodamco-Westfield is nearing a refinancing deal for the 1.4-million-square-foot shopping center totaling $925 million in commercial mortgage-backed securities, Commercial Observer reported. The five-year deal is expected to close July 22. Bank of America, Goldman Sachs, Morgan Stanley, Santander Bank and a Deutsche Bank affiliate are expected to co-originate the debt, according to a report by Fitch Ratings cited by CO. The funds would be used to replace another $925 million CMBS package […]
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