Brookfield's GGP Secures $800M CMBS Refi for Oakbrook Center

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Summary · why it matters

Brookfield Asset Management's retail arm GGP is locking in an $800 million commercial mortgage-backed security refinancing for Oakbrook Center, one of the last large, functioning malls in suburban Chicago. A syndicate comprising Morgan Stanley, Bank of America, Citibank, Goldman Sachs and Wells Fargo are reportedly the originators and sellers of the $800 million loan, according to Bisnow. The CMBS loan is set to repay a previous $700 million CMBS loan tied to the Oakbrook Center at 100 Oakbrook Center in the suburb of Oak Brook, as well as pay off $30 million in early payoff penalties, with the remainder of the cash going to $5 million in closing costs and returning $65 million of equity to the sponsors. The loan carries a five-year interest-only term and an assumed rate of 5.9 percent, and in July 2026 the mall was 94 percent leased with around 160 unique tenants. Oakbrook Center is the second-largest shopping mall in the Chicago metro and not only came out of the pandemic alive, but thriving.

Impact on assets 6

Financials▲ · 5 stocks
Brookfield Asset Management Ltd.
BAM
▲ PositiveCapitalrelevance

Brookfield's GGP retail arm secures an $800M CMBS refinancing for Oakbrook Center, repaying the prior $700M loan and returning $65M of equity to sponsors.

Bank of America Corp
BAC
± MixedCapitalrelevance

Named as one of the syndicate originators/sellers of the $800M CMBS loan for Oakbrook Center; no specific financial impact stated.

Goldman Sachs Group Inc
GS
± MixedCapitalrelevance

Named among the syndicate originators/sellers of the $800M CMBS refinancing; only a passing role mentioned.

Morgan Stanley
MS
± MixedCapitalrelevance

Reported as one of the originators/sellers of the $800M CMBS loan; no distinct impact on Morgan Stanley stated.

Digital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.
C
± MixedCapitalrelevance

Listed as an originator/seller in the $800M CMBS loan syndicate; no company-specific impact given.

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