Lightstone Completes $800M Refi of 10 Outlet Centers
To upgrade and expand 10 retail shopping centers, The Lightstone Group has refinanced these outlet centers from within its Prime Retail portfolio. The $631 million refinancing transaction was completed through Wachovia.
Angela Mirizzi-Olsen, senior vice president, chief investment officer for The Lightstone Group, was unavailable for comment by deadline. But compared to the marketplace, the Prime Retail portfolio continues to outperform its competitors, while separating itself from the competitors and leading the market through its growth.
The proceeds from the transaction will be reinvested in enhancing Prime Retail outlet locations in Prairie, Wis.; San Marcos, Texas; Naples, Fla.; Lebanon, Tenn.; Jeffersonville, Ohio; Huntley, Ill.; Gulfport, Mo.; Ellenton, Fla.; Florida City, Fla. and Grove City, Fla.
