{"id":1004775656,"date":"2025-10-24T04:04:03","date_gmt":"2025-10-24T12:04:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004775656"},"modified":"2025-10-24T04:49:55","modified_gmt":"2025-10-24T12:49:55","slug":"nuveen-jv-secures-199m-for-nyc-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/","title":{"rendered":"Nuveen JV Secures $199M for NYC Retail Center"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Exterior<\/a>
Ridge Hill came online in 2011 at 1 Ridge Hill Blvd., just off Interstate 87. Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n

The joint venture of Taconic Partners, Nuveen Real Estate, Jamestown and a public pension plan has secured a $198.5 million refinancing loan for the 1.2 million-square-foot Ridge Hill, a retail property in Yonkers, N.Y. Blackstone Real Estate Debt Strategies issued the note, in a transaction arranged by JLL Capital Markets.<\/p>\n\n\n\n

Loan proceeds will retire the existing debt on the property, as well as finance future leasing activity. <\/p>\n\n\n\n

Previous debt included a $181.3 million non-recourse acquisition loan provided by Heitman in 2022. That year, the joint venture of North American Properties, Taconic Partners and Nuveen Real Estate purchased Ridge Hill from QIC for $220 million. <\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Investment Matters: Rocking Neighborhood Retail<\/a><\/p>\n\n\n\n

\n\n\n\n

In 2024, Jamestown acquired North American Properties<\/a> and implicitly the firm’s stake in the asset. Jamestown also oversees the property’s management along with the retail leasing activity.<\/p>\n\n\n\n

JLL Senior Managing Directors Aaron Niedermayer, Kellogg Gaines and Evan Pariser worked on behalf of the joint venture in the current deal. The same team also arranged the 2022 acquisition loan.<\/p>\n\n\n\n

Ridge Hill, up close<\/h2>\n\n\n\n

Ridge Hill came online in 2011 at 1 Ridge Hill Blvd., some 19 miles north of Midtown Manhattan. The open-air shopping center that occupies a 74-acre site features a tenant roster that includes Apple, Dick\u2019s Sporting Goods, Whole Foods Market, T.J. Maxx, Lowe\u2019s, LEGOLAND Discovery Center, iFly Indoor Skydiving and LA Fitness.<\/p>\n\n\n\n

In 2024, the ownership broke ground on the first phase of Ridge Hill’s redevelopment, focusing on reimagining the property\u2019s streetscape and social gathering spaces. The tenant mix was also improved to include more local and New York City-inspired food and beverage concepts as well as popular lifestyle brands. <\/p>\n\n\n\n

Plans for the project’s second phase feature the redevelopment of the former Lord & Taylor department store building, vacant since 2021. That structure totals some 88,700 square feet.<\/p>\n\n\n\n

Since May 2022, Ridge Hill has seen 679,000 square feet of leasing activity, including a 114,369-square-foot lease with Wayfair, slated to begin serving customers in 2027. Wayfair\u2019s store at the property will be the tenant\u2019s third brick-and-mortar location in the U.S. and is expected to increase the retail center\u2019s foot traffic to a total of 1 million visitors per year.<\/p>\n\n\n\n

The retail center is just off Interstate 87, adjacent to Sprain Ridge Park, and the Sprain Lake and St. Andrews golf courses.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Blackstone division issued the note.<\/p>\n","protected":false},"author":3619,"featured_media":1004775662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[32892,51748,32796,43901],"class_list":["post-1004775656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-blackstone","tag-jamestown","tag-jll","tag-nuveen-real-estate"],"acf":[],"yoast_head":"\nNuveen JV Secures $199M for NYC Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nuveen JV Secures $199M for NYC Retail Center\" \/>\n<meta property=\"og:description\" content=\"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-24T12:04:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-24T12:49:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"803\" \/>\n\t<meta property=\"og:image:height\" content=\"602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/\",\"name\":\"Nuveen JV Secures $199M for NYC Retail Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg\",\"datePublished\":\"2025-10-24T12:04:03+00:00\",\"dateModified\":\"2025-10-24T12:49:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg\",\"width\":803,\"height\":602,\"caption\":\"Ridge Hill is a shopping center in Yonkers, N.Y.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nuveen JV Secures $199M for NYC Retail Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\",\"name\":\"Maria Maruta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"caption\":\"Maria Maruta\"},\"description\":\"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nuveen JV Secures $199M for NYC Retail Center - Commercial Property Executive","description":"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/","og_locale":"en_US","og_type":"article","og_title":"Nuveen JV Secures $199M for NYC Retail Center","og_description":"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.","og_url":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-10-24T12:04:03+00:00","article_modified_time":"2025-10-24T12:49:55+00:00","og_image":[{"width":803,"height":602,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg","type":"image\/jpeg"}],"author":"Maria Maruta","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/","url":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/","name":"Nuveen JV Secures $199M for NYC Retail Center - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg","datePublished":"2025-10-24T12:04:03+00:00","dateModified":"2025-10-24T12:49:55+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df"},"description":"Taconic Partners,\u00a0Nuveen Real Estate and\u00a0Jamestown secured a $198.5 million loan for the Ridge Hill shopping center in Yonkers, N.Y.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg","width":803,"height":602,"caption":"Ridge Hill is a shopping center in Yonkers, N.Y."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/nuveen-jv-secures-199m-for-nyc-retail-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Nuveen JV Secures $199M for NYC Retail Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df","name":"Maria Maruta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","caption":"Maria Maruta"},"description":"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/Ridge-Hill-shopping-center-in-Yonkers-NY-edited.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004775656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3619"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004775656"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004775656\/revisions"}],"predecessor-version":[{"id":1004775710,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004775656\/revisions\/1004775710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004775662"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004775656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004775656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004775656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}