A $388.5 million securitization is being planned for a single commercial loan to the Palisades Center Mall in New York, a metro super-regional mall emerging from two years of renovations and major retail tenant poachings by a rival development.  

Palisades Center Trust 2016-PLSD is a five-notes structure backed by the interest-only $418.5 million loan, itself secured by the 19-year-old, 2.2-million square foot retail shopping and entertainment property in West Nyack, N.Y.  The capital stack includes a $229.1 million Class A tranche of notes that Friday were given provisional triple-A structured-finance ratings by Standard & Poor’s and Moody’s Investors Service.

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