**JLL Arranges $198.5M Refinance for Ridge Hill in Yonkers, NY**
JLL Capital Markets has secured $198.5 million in financing for Ridge Hill, a 1.2-million-square-foot open-air lifestyle center located at 1 Ridge Hill Boulevard in Yonkers, New York.
The loan was arranged on behalf of the ownership—a joint venture comprising Taconic Partners, Nuveen Real Estate, Jamestown, and a public pension plan. JLL’s senior managing directors Aaron Niedermayer, Kellogg Gaines, and Evan Pariser led the transaction.
Blackstone Real Estate Debt Strategies provided the financing, which will be used to retire existing debt and support future leasing initiatives at the property. This deal follows JLL’s arrangement of the acquisition financing for Ridge Hill in 2022.
Originally developed in 2011, Ridge Hill is considered a premier retail asset in Westchester County. The center features a robust mix of both national and local retailers in a walkable, outdoor setting.
“The refinancing with Blackstone underscores the sponsor’s vision and the enduring appeal of Ridge Hill,” said Niedermayer. “The property’s high-quality tenancy, prime location, and established reputation as Westchester’s leading open-air retail destination made this a compelling transaction.”
