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MetLife Lends $51M to Refinance SI Outdoor Shopping Center

MetLife has provided a $51 million loan to Pergament Properties to refinance the 360,000-square-foot Pergament Mall at 2795 Richmond Avenue in Staten Island, NY, Commercial Observer has learned.

The 15-year, full-term and interest-only loan has a rate of 4.02 percent, sources told CO. The property is located adjacent to the massive, 1.3-million-square-foot Staten Island Mall on Richmond Avenue.

Robert Altman, a co-managing partner at ABS Altman Warwick—a capital markets advisory shop that operates under ABS Partners Real Estate—originated the debt on behalf of the borrower…

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