Pyramid Management Group secures long-term financing for 1.6 million s/f Walden Galleria

Cheektowaga, NY Pyramid Management Group secured a new five-year loan for the 1.6 million s/f, two level Walden Galleria. The new financing replaces the property’s existing debt and was put in place in partnership with lenders, including Second Horizon Capital and Cross Ocean Partners.

UBS served as the sole financial advisor to Pyramid on the transaction. 

For more than 35 years, Walden Galleria has been the dominant retail destination in Western New York. The center draws shoppers from a trade area extending more than 60 miles, including Canada. driven by its mix of national and international retailers, restaurants, and entertainment venues. Pyramid’s ongoing commitment to reinvestment will help to ensure that Walden Galleria remains the region’s retail destination for the foreseeable future. Anchored by Macy’s, JCPenney, Dick’s Sporting Goods, Regal Cinemas, Primark, and Best Buy, Walden Galleria offers over 200 retail brands including Apple, Lululemon, BOSS, Urban Outfitters, and over 20 on-site eateries and entertainment destinations, such as The Cheesecake Factory, Dave & Buster’s, and PF Chang’s. “Walden Galleria continues to demonstrate exceptional strength and resilience, maintaining high occupancy and generating very strong sales revenue,” said Stephen Congel, CEO of Pyramid Mgmt. “Our continued focus on strategic innovation and enhancing the overall guest experience has enabled us to successfully secure new, long-term financing for this property. We are committed to building on this momentum in the years to come and remain focused on sustaining the competitiveness and market leadership of Walden Galleria. In the months ahead, we anticipate announcing additional retail, dining, and entertainment offerings that will further strengthen the property’s position in the region.”

“We are pleased to partner with the Pyramid Management Group team in supporting the long-term vitality of Walden Galleria,” said Howard Levine, managing partner and co-founder of Second Horizon Capital. “This transaction reflects our continued focus on investing in retail centers with meaningful long-term potential. Since opening in 1989, Walden Galleria has been a central part of the Buffalo community, and we look forward to working alongside Pyramid to help maintain the center as Buffalo’s most dynamic shopping destination for years to come.”

This loan closing is a continuation of Pyramid’s success over the last year in accessing the commercial real estate capital marketplace. The company has refinanced over 4.6 million s/f of properties in the last year with over $500 million of new loans placed.