### Brookfield Extends $505M Natick Mall Loan Through Late 2026
Brookfield Properties has secured an extension on its $505-million loan for Natick Mall, pushing the due date to late 2026 after failing to refinance the debt upon its original maturity in November. According to the *Boston Business Journal*, the 1.6-million-square-foot shopping center in Natick, Massachusetts—one of the largest malls in the state—has faced significant challenges due to the loss of major tenants in recent years, including Lord & Taylor, Neiman Marcus, Sears, and Wegmans.
To counteract these setbacks, ownership has embraced experience-based retail. A large pickleball facility has taken over the space previously occupied by Neiman Marcus, while attractions such as Dave & Buster’s and Level99 have filled much of the former Sears location.
Despite these efforts, ongoing vacancies, high interest rates, and below-market debt-yield levels complicated Brookfield’s refinancing efforts and could pose similar hurdles when the extension expires in November 2026. The loan, originally issued by Bank of America in 2019, was transferred to special servicing last fall just before reaching maturity.
