Willow Grove Park

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present an asset or note sale via deed-in-lieu on a $170 million matured senior loan (the "Loan") collateralized by a 724,728 square foot ("SF") portion (the "Collateral") of Willow Grove Park (the "Center" or "Property"), an incredibly productive, exceptionally located, three-level super regional shopping center located in the densely populated and affluent Montgomery County.

Comprising approximately 1,137,849 square feet (“SF”) of gross leasable area (“GLA”), Willow Grove Park offers an anchor lineup that is ideally suited for the trade area including Macy’s (225,000 SF), Bloomingdale's (237,537 SF / NAP), Tilted 10 (103,394 SF), and Primark (77,538 SF / NAP). With a diverse mix of tenants, including notable brands such as Apple, BoxLunch, Miniso, Pandora, and Sephora, among others, and a variety of popular dining options including The Cheesecake Factory and Yard House, the Property boasts notable gross sales volumes and small shop productivity of +$210MM and $778/SF, respectively, and an impressive inline occupancy rate of 88.9%.

Willow Grove Park is situated on 83.5 acres (~62.2 owned) and strategically located at the intersection of Easton Road and W Moreland Road in the northern suburbs of Philadelphia, benefiting from excellent accessibility via the Pennsylvania Turnpike (~95,000 VPD) and Route 611 (~27,000 VPD). The Center serves a dense and affluent trade area with a total population of more than 1.3 million people in a 10-mile radius. The immediate area boasts an impressive demographic profile with an average household income of nearly $145,500 within a 5-mile radius – a figure 14.1% and 34.8% higher than the Metro and State, respectively.