The Crowne Plaza JFK Airport hotel, with 335 rooms in the Jamaica section of Queens, NY, has been sold for $84 million, or $250,746/room The property's sale will result in the defeasance or likely pay off of a $377 million CMBS mortgage that doesn't...
The volume of commercial real estate loans coming due through 2027 increased slightly in the second quarter to $278 trillion from $275 trillion in the first quarter, according to Trepp Inc This year, $5369 billion of loans come due, and next year,...
Commercial Real Estate Direct Staff Report A New York State judge has ruled that affiliates of the Trump Organization had engaged in fraud by overstating the value of properties they owned, some of which were financed with mortgages The ruling, if...
Commercial Real Estate Direct Staff Report InterSystems Corp, which occupies 239,417 square feet, or nearly 59 percent of the 409,422-sf One Memorial Drive office building in Cambridge, Mass, is expected to terminate its lease by July 2025 The data...
Commercial Real Estate Direct Staff Report STV Inc, which leases 133,000 square feet of office space at 225-233 Park Ave South in Manhattan’s Union Square area, will not be renewing its lease when it rolls next May It’s relocating to the...
Commercial Real Estate Direct Staff Report The $73 million loan against the Regions Tower, a 687,237-square-foot office property in Indianapolis has transferred to special servicing because it’s expected to default at its maturity next month...
Commercial Real Estate Direct Staff Report The $693 million loan against the 484,994-square-foot Hagerstown Premium Outlets has gone 30 days late in its payment, according to a September remittance report The missed payment was highlighted this...
Commercial Real Estate Direct Staff Report The $180 million CMBS loan against the Dumbo Heights Portfolio, a collection of four office buildings totaling 753,074 square feet in the Dumbo neighborhood of Brooklyn, NY, was not paid off ahead of its...
Commercial Real Estate Direct Staff Report Chicago’s Aon Center, a 278 million-square-foot office property in downtown Chicago, has had its appraised value slashed by nearly half to $414 million, according to a CMBS Newsflash by Morningstar...
The volume of CMBS loans in the hands of special servicers remained basically flat last month at $4022 billion, according to Trepp While a number of large retail loans were resolved during the month, that was offset by the addition of a few large...
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.
