American Marconi Wireless News - Pyramid Management Group Secures Loan Extension for Holyoke Mall at Ingleside in Holyoke, Massachusetts

Pyramid Management Group, one of the largest, most innovative, privately-held shopping center developers in the Northeast, has successfully worked with its lender to secure a three-year extension for the loan on Holyoke Mall at Ingleside in Holyoke, MA. This extension will allow Pyramid to continue to reinvest in the property and ensure its continued health, vibrancy and success while serving a very large trade area that includes western Massachusetts, southern Vermont and New Hampshire, northern Connecticut and eastern New York State.

"The resilience and strength of our shopping centers, along with Pyramid's continued efforts to reimagine, redefine and enhance the guest experience, enabled us to successfully restructure and extend the loan," said Stephen J. Congel, Chief Executive Officer, Pyramid Management Group. "We look forward to continuing that success over the coming years and remain committed to ensuring the health, vibrancy and longevity of the center for decades to come."

Holyoke Mall has been Western Massachusetts' dominant enclosed shopping center for over 45 years. Anchored by Macy's, JCPenney, Target, Hobby Lobby and Best Buy, Holyoke Mall offers over 150 retail shops including restaurants like 110 Grill and Sumo Japanese Steakhouse and entertainment destinations Round 1, Billy Beez and Altitude Trampoline Park.

Holyoke Mall is a major employment driver in the area and an economic catalyst for the region. The property totals 1.6 million square feet, with more than 3,000 people employed by Pyramid and its tenants.

About Holyoke Mall at Ingleside

Holyoke Mall is Western Massachusetts' premiere shopping center located in Holyoke's Ingleside neighborhood and conveniently located near the interchange of I-90 and I-91. Holyoke Mall was built in 1979 and later expanded in 1995- now spanning 1.6 million square feet. The three-level Mall is home to 150 shops, restaurants, entertainment venues, and department stores including: Macy's, Target, Victoria's Secret, Apple, Round 1, DSW, Forever 21, Loft, H&M, Sumo Japanese Steakhouse, 110 Grill, and more. For more information, visit www.holyokemall.com.

About Pyramid Management Group, LLC

Pyramid Management Group is one of the largest, most innovative, privately held real estate developers in the northeast. Headquartered in Syracuse, New York, Pyramid's portfolio of dynamic shopping, dining and entertainment destinations and expanding hospitality presence dominate the northeast with 9 properties located throughout New York and Massachusetts including Destiny USA (Syracuse, NY), Crossgates (Albany, NY) and Walden Galleria (Buffalo, NY). For over 50 years, Pyramid has built its reputation on being first, fast, ahead of the curve and always what's next, leading the industry in combining the best elements of traditional retail with world-class dining and entertainment, all under one roof. For more information, visit www.pyramidmg.com.

Contact Information

James Soos
Director of Asset Management
[email protected]
716-681-7600 ext. 124

SOURCE: Pyramid Management Group

A.Malone--AMWN