Destiny USA’s owner has secured a new five-year loan for Walden Galleria in Buffalo.
The Syracuse-based Pyramid Management Group announced on Friday that it has replaced the property’s existing debt by entering a partnership with new lenders, including Second Horizon Capital and Cross Ocean Partners.
The financing comes after Wells Fargo Bank started a foreclosure action in state Supreme Court in Erie County last May on the mall after Pyramid missed a May 1 deadline to pay off or refinance a $220 million mortgage on the property. Later in the year, both sides agreed Pyramid would continue as property manager while seeking a new financing agreement…