Buffalo, N.Y. — Syracuse, New York-based Pyramid Management Group has received financing for Walden Galleria Mall, a 1.6 million-square-foot shopping center located in the Buffalo suburb of Cheektowaga. The new five-year loan, which replaces the property’s existing debt, was put in place in partnerships with lenders that include global asset manager Cross Ocean Partners and impact investment firm Second Horizon Capital. UBS served as financial advisor on behalf of Pyramid.
In 2025, Pyramid defaulted on a roughly $220 million loan for the mall, in which Wells Fargo Bank filed a complaint in May with the state Supreme Court of Erie County that started the mortgage foreclosure process, according to Buffalo Business First. The news outlet also reported that Pyramid reached an agreement to keep ownership of Walden Galleria Mall and that it would close on new financing by the end of the year. Ultimately, Pyramid received an extension for Feb. 20 to make its final payment to the lender.
In the last year, Pyramid has refinanced more than 4.6 million square feet of properties with over $500 million of new loans placed.
Walden Galleria Mall features more than 200 stores, including Aerie, American Eagle, Anthropologie, Abercrombie & Fitch, Apple, Bath & Body Works, Best Buy, Coach, DSW, Dick’s Sporting Goods and Express.