ALBANY — The owner of Crossgates Mall in Guilderland and Crossgates Commons in Albany has secured more than $200 million in financing to reinvest in the two properties.
On Monday, Syracuse-based Pyramid Management Group, which owns shopping centers across the Northeast, including the Crossgates properties, announced in a news release it closed on a $193 million loan package for Crossgates Mall and a $13.8 million loan for Crossgates Commons, both five-year finance loans.
The financing “enables Pyramid to reinvest in the properties, ensuring their vitality, vibrancy and sustained success in the market,” the news release states…