{"id":1004786511,"date":"2026-02-04T04:27:19","date_gmt":"2026-02-04T12:27:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004786511"},"modified":"2026-02-04T04:57:41","modified_gmt":"2026-02-04T12:57:41","slug":"tiaa-simon-to-lock-in-615m-for-orlando-mall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tiaa-simon-to-lock-in-615m-for-orlando-mall\/","title":{"rendered":"TIAA, Simon to Lock In $615M for Orlando Mall"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004786519\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-falls-retail-center-in-miami-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami-edited.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Falls retail center in Miami\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Falls is under Simon Property Group&#8217;s ownership.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami-edited.jpg\" alt=\"Exterior shot of The Falls, a 734,967-square-foot retail property in Miami.\" class=\"wp-image-1004786519\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/The-Falls-retail-center-in-Miami-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Simon Property Group owns more than 20 retail properties in Florida. One of them is The Falls, an open-air shopping mall in Miami. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>TIAA and Simon Property Group Inc. will secure a $615 million loan for The Florida Mall, a 1.7 million-square-foot super-regional mall in Orlando, Fla., according to a <a href=\"https:\/\/www.fitchratings.com\/research\/structured-finance\/fitch-to-rate-spgn-trust-2026-tflm-presale-issued-02-02-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Fitch Ratings report<\/a>. The transaction, involving only 1.1 million square feet of the property, is slated to close on Feb. 18.<\/p>\n\n\n\n<p>Bank of America, German American Bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, BNP Paribas and PNC Bank are to co-originate the two-year note with three one-year extension options. Midland Loan Services\u2014a division of PNC Bank\u2014and Torchlight Loan Services will act as servicer and master servicer, respectively.<\/p>\n\n\n\n<p>Proceeds will retire an existing $600 million CMBS loan issued by Barclays in 2022, according to Yardi Matrix data. That note was due to mature in 2027.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/commercial-and-multifamily-borrowing-increased-36-percent-in-the-third-quarter-of-2025\/\">Commercial and Multifamily Borrowing Increased 36 Percent in Q3<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Completed in 1986, The Florida Mall is the largest shopping center in Central Florida, featuring nine buildings across a 142-acre site. The property comprises a 177,000-square-foot Sears, a 204,000-square-foot Macy\u2019s and a 256,000-square-foot Dillard&#8217;s store. Primark, Uniqlo, JCPenney, H&amp;M, Zara, Foot Locker and many more are also on the roster.<\/p>\n\n\n\n<p>Located at 8001 S. Orange Blossom Trail, the mall is just east of U.S. Route 441 and close to Florida state routes 482 and 528. Downtown Orlando is less than 9 miles north, while Orlando International Airport is within 6 miles east.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-orlando-retail-market-stabilizes\">Orlando retail market stabilizes<\/h2>\n\n\n\n<p>Retail demand strengthened in Orlando last year, with 4.1 million square feet of leasing activity by year-end, according to a recent <a href=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/orlando-marketbeats\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cushman &amp; Wakefield report<\/a>. Net absorption totaled 374,725 square feet in 2025 and the vacancy rate clocked in at 3.7 percent in the fourth quarter, both metrics showing improvements that mirror the national <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail trends<\/a>.<\/p>\n\n\n\n<p>Meanwhile, the metro&#8217;s malls registered the highest vacancy rate among all retail property types, at 6.7 percent. However, asking rents averaged $43.06 per square foot\u2014the largest figure in the sector\u2014and rent growth reached 5.5 percent year-over-year, reflecting steady demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is the largest shopping center in Central Florida.<\/p>\n","protected":false},"author":3619,"featured_media":1004786519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,1493,21749,32781],"tags":[33250,33327,35826,36928,33301,33460],"class_list":["post-1004786511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-orlando","category-retail","category-southeast","tag-bank-of-america","tag-bnp-paribas","tag-cmbs","tag-pnc-bank","tag-simon-property-group-inc","tag-tiaa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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