Simon Property Group Takes Out $93M Loan To Refinance Colorado Mills Mall
Simon Property Group secured a $93M loan for Colorado Mills mall, with $80M sold into CMBS. The loan, maturing in 2036, has a 6.84% interest rate. The mall's value was reappraised at $135M in 2025, down 37% from 2014. Net operating income for 2026 is up nearly $1.3M from last year, according to SEC filings.
How this was made
The 30-second read
Why it matters
The $93M loan adds debt but is part of a broader CMBS pool, indicating market confidence in the asset. The interest rate of 6.84% is modest for commercial real estate financing.
Market read
A modest financing event for a mid‑cap REIT; likely limited immediate price impact but worth monitoring for REIT debt trends.
What to watch
Potential for future rent growth at the mall and the impact of the new tenant, Cavender's Boot City, on NOI.
Background
Simon Property Group is a leading U.S. REIT focused on shopping malls. The Colorado Mills mall is a large asset in its portfolio.
Ticker impact
Simon Property Group disclosed a new $93M loan to refinance the Colorado Mills mall, including terms and interest rate.
likely slight downside as the market prices in the added debt and interest expense
Refinancing adds $93M of liability at 6.84% interest; investors may view this as a modest risk without immediate upside.
Market effects
May signal continued financing activity in the REIT sector, but limited impact on broader real estate markets.
Specific to Colorado Mills mall; minimal effect on regional market sentiment.
Low relevance globally; primarily a company‑specific financing event.
Counterpoint
If the loan terms are favorable, the refinancing could improve cash flow stability, offering a buying opportunity.
Key entities
- CompanySimon Property Group
US‑listed REIT (ticker SPG) that owns Colorado Mills mall.
- LenderGoldman Sachs
Lead arranger of the $93M loan.
- LenderGerman American Capital Corp.
Co‑lender on the loan.
