### Brookfield Extends $505M Natick Mall Loan Through Late 2026
Brookfield Properties has successfully extended its $505-million loan on Natick Mall until late 2026, after struggling to refinance the debt when it matured in November, according to the *Boston Business Journal*.
Natick Mall, one of the largest shopping centers in Massachusetts, spans 1.6 million square feet and has faced significant challenges in recent years due to the departure of major tenants, including Lord & Taylor, Neiman Marcus, Sears, and Wegmans.
To counteract these losses, the mall has shifted towards experience-based retail. A large pickleball facility recently replaced Neiman Marcus, while a Dave & Buster’s and Level99 have taken over much of the former Sears space.
Despite these efforts, ongoing vacancies, rising interest rates, and below-market debt-yield levels have created hurdles for Brookfield in its refinancing efforts. These factors could pose similar challenges when the extended loan period comes to an end in November 2026. The loan, initially issued by Bank of America in 2019, was transferred to special servicing last fall just before reaching maturity.
