Simon Property Group Lines Up $465M Refinancing for Pentagon City Power Trio

Simon Property Group and IMI secure a $465M loan from Goldman Sachs and Wells Fargo to refinance the Fashion Centre at Pentagon City, Metro Tower, and Ritz-Carlton.

By: AXL Media

Published: Mar 24, 2026, 11:53 AM EDT

Source: Bisnow

The Loan Structure

The financing, expected to close in April 2026, is a sophisticated commercial mortgage-backed securities (CMBS) play involving some of the world’s largest financial institutions.

Lenders: A syndicate led by Goldman Sachs, Wells Fargo, and Barclays Capital Real Estate.

Terms: A five-year, interest-only loan.

Equity Infusion: The sponsors are contributing an additional $29.9 million in equity to cover tenant improvements (TIs), leasing commissions, and closing costs.

Portfolio Valuation: The three-property bundle was appraised at $777.7 million in February 2026.