Commercial Real Estate Direct Staff Report Starwood Capital Group is finalizing the deed-in-lieu of foreclosure transfer of the Rimrock Mall in Billings, Mont, to Wells Fargo Commercial Mortgage Trust, 2013-LC12, which holds a $7277 million loan...
Washington Prime Group, which earlier this year added seven malls to its list of non-core properties, has formally told the servicer of the $676 securitized million mortgage against the Brunswick Square Mall in East Brunswick, NJ, that it would...
The CMBS trust that holds an $8265 million loan against the Promenade Shops at Centerra in Loveland, Colo, has taken over the property through foreclosure The 493,160-square-foot retail center was lost to a foreclosure in 2010, when its then-owner...
The Asheville Mall in North Carolina has been re-appraised at a value of $42 million - a third of the $123 million appraised value given it in 2011 when a $78 million loan was written against it The property's owner, CBL & Associates Properties Inc,...
Commercial Real Estate Direct Staff Report Spinoso Real Estate Group has been installed as the receiver for the Shoppes at Buckland Hills in Manchester, Conn The property is owned by an affiliate of Brookfield Asset Management, which had assumed it...
The Westfield Palm Desert Mall in Palm Desert, Calif, in California's Coachella Valley, last month was re-appraised at a value of only $552 million That's roughly a quarter of the property's $212 million appraised value set in 2014, when a $125...
The Real Deal SL Green Realty Corp, which holds a $4 million mezzanine loan against 690 Madison Ave in Manhattan’s Lenox Hill area, has moved to foreclose against the 7,850-square-foot retail building The property, leased to high-end retailer...
Simon Property Group has added two malls to its list of "other properties," an indication that it's willing to give up on them The two malls bring to 18 the number of properties the Indianapolis REIT has earmarked as "other" A total of 13 of them...
The volume of CMBS loans declined again in July, to $4404 billion, marking the slowest rate of decline since January The problem in the latest month were loans against retail properties A total of $1869 billion are now in special servicing, up 12...
Commercial Real Estate Direct Staff Report Valley View Mall in LaCrosse, Wis, which owner Pennsylvania REIT had placed on its list of non-core properties, has been appraised at a value of only $14 million That compares with the $2643 million of debt...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
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