Green Acres
A retail property in Valley Stream, New York. Securitized in 2 CMBS deals in 2023.
$679.0MAppraised value (latest deal)
97.7%Occupancy
$47.9MUnderwritten NOI
7.1%Implied cap rate
- Address
- 2034 Green Acres Road, Valley Stream, NY 11581
- Property type
- Retail · Super Regional Mall
- Year built
- 1956, 2016
- Size
- 2,081,286 SF
- Sponsor
- The Macerich Partnership, L.P.
- Loan purpose
- Refinance
- Largest tenant
- Macy's
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-C4 | 2023-02-14 | $679.0M | 97.7% | $47.9M | 7.1% | $26.0M | 54.5% | 2.10x | 424B |
| BMO 2023-5C1 | 2023-08-16 | $679.0M | 97.7% | $47.9M | 7.1% | $5.5M | 54.5% | 2.10x | 424B |
Historical NOI reported in BMO 2023-5C1
| Period ending | NOI |
|---|---|
| 9/30/2022 | $45.2M |
| 12/31/2021 | $46.6M |
| 12/31/2020 | $41.0M |
More CMBS properties in New York →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.