Kohan Retail Investment Group, the most prolific buyer of malls backing distressed CMBS loans, has paid $55 million for the Montgomery Mall in suburban Philadelphia The property, previously owned by Simon Property Group, had been encumbered by a...
Commercial Real Estate Direct Staff Report The $9179 million CMBS loan against the Belden Village shopping mall in Canton, Ohio, has been granted a five-year term extension to July 2026 The loan, securitized through Morgan Stanley I Inc, 2011-C3,...
Commercial Real Estate Direct Staff Report The $25868 million CMBS loan against 175 West Jackson Blvd, a 14 million-square-foot office building in downtown Chicago, once again has transferred to special servicer LNR Partners as it’s expected...
RockStep Capital Corp bought the 839,284-square-foot shopping mall for $2242 million, resolving the last remaining asset in Banc of America Commercial Mortgage Trust, 2006-3 The liquidation of the CMBS loan resulted in $7155 million of losses,...
Starwood Property Trust, which in 2016 and 2018 had purchased a total of 61 affordable-housing properties with 15,057 units in Florida for $125 billion, has completely cashed out of the portfolio that it refers to as WoodStar I and II But it still...
Commercial Real Estate Direct Staff Report The West Ridge Mall in Topeka, Kan, formally has been placed on the sales market The 101 million-square-foot property and its neighbor, the 88,921-sf West Ridge Plaza power center, had served as collateral...
Commercial Real Estate Direct Staff Report CMBS special servicers continue to see a decline in the volume of loans they’re handling In October, the volume of loans in their hands declined by 371 percent from September, to $3951 billion, which...
A venture of Highgate Holdings and Cerberus Capital Management has agreed to buy CorePoint Lodging Inc, which was formed in 2018 through the spin-off of 316 La Quinta-branded limited-service hotels, in a deal valued at $15 billion It's paying...
Commercial Real Estate Direct Staff Report The bankruptcy of an affiliate of HNA Group of China could result in the ultimate sale of office properties at 245 Park Ave in Manhattan and 181 West Madison St in Chicago The affiliate, PWM Property...
Commercial Real Estate Direct Staff Report The 243-room DoubleTree Tallahassee Hotel has been taken through foreclosure by the CMBS trust that had held a $2294 million loan against it The loan, securitized through GS Mortgage Securities Trust,...
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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