Offices at Mall of America

Location: Bloomington, MN
Type: Office
Price: $42,000,000

SMC provided a $42,000,000 first mortgage loan to refinance the existing debt collateralized by the Subject. The Loan has a 10-year term, with 30-year amortization after an initial 36-month interest-only period. The Subject is a 85.5% occupied, 169,311 SF office property located at 2131 Lindau Drive, Bloomington, MN. The Subject sits atop three floors of retail space and is located directly adjacent to the Mall of America. The Mall of America, one of the largest indoor shopping malls in the United States, has a gross area of 4.87 million SF, with 2.5 million SF of retail and entertainment space, and attracts 40 million visitors annually. The Mall of America was ranked the #1 Most Popular Attraction in the US by Time magazine.