MetLife Provides $210M Refinancing for Bay Plaza Community Center in the Bronx

MetLife’s real estate investments division provided a $210 million loan to Prestige Properties & Development to refinance Bay Plaza Community Center in the Bronx. The 517,000-sq.-ft. retail center is part of the 1.3-million-sq.-ft. Bay Plaza shopping complex and includes an office component.

The loan comes with a fixed sub-4 percent interest rate, an interest-only portion and a five-year term.