Cleary Gottlieb represented Goldman Sachs Mortgage Company in its origination of a $550 million mortgage loan to an affiliate of The Macerich Company. The fixed rate loan refinanced, and is secured by the Scottsdale Fashion Square mall. The loan funded on July 2.
GSMC is Goldman Sachs & Co.’s commercial mortgage lending affiliate. Macerich is one of the country’s largest owners, operators and developers of major retail properties. Macerich is active in key markets including Arizona, California, the New York metropolitan area, and suburban Washington, D.C. The Scottsdale Fashion Square, located in Scottsdale, Arizona, is a major regional mall with more than 225 retailers. The mall is anchored by Neiman Marcus, Macy’s, Nordstrom and the largest Dillard’s store in the country.