Commercial Real Estate Direct Staff Report The bankruptcy filing by Saks Global Enterprises in January prompted last month’s transfer to special servicing of a $125 billion CMBS loan against the ground beneath the Saks Fifth Ave flagship store...
Commercial Real Estate Direct Staff Report The continued weak performance of 521 Fifth Ave in Midtown Manhattan has prompted S&P Global Ratings to downgrade three bond classes of COMM, 2019-521F, the CMBS deal that holds the 494,527-square-foot...
The Factory, a 11 million-square-foot office property in the Long Island City section of Queens, NY, has suffered a substantial decline in occupancy and cash flow since 2023 As a result, Moody's Ratings has downgraded the bonds that hold a $300...
Commercial Real Estate Direct Staff Report A sharp increase in operating expenses at the 104 million-square-foot 520 Madison Ave office building in Manhattan has prompted Moody’s Ratings to downgrade three bond classes of the single-asset,...
Commercial Real Estate Direct Staff Report The Federal Trade Commission’s plan to move out of the 251,805 square feet it occupies at the Constitution Center in Washington, DC, has contributed to Standard & Poor’s decision to...
Commercial Real Estate Direct Staff Report By most measures, the Penn Square Mall in Oklahoma City is a relatively solid performer It was 94% occupied as of last September and generated twice the cash flow needed to fully service its mortgage But...
Fox Corp will be vacating 328,000 square feet at the 2 million-sf 1211 Ave of the Americas office building in midtown Manhattan, according to Kroll Bond Rating Agency The broadcasting network, along with parent News Corp, occupy a total of 115...
The $669 million mortgage against the North Riverside Park Mall in the Chicago suburb of Riverside, Ill, which in 2021 had been divided into A- and B-notes as part of a modification, remains outstanding, well after its extended maturity last...
Commercial Real Estate Direct Staff Report Increased operating expenses at Chicago’s Old Post Office have prompted Moody’s Investors Service to downgrade the ratings of each of the classes of JPMorgan Chase Commercial Mortgage Securities...
Commercial Real Estate Direct Staff Report Kroll Bond Rating Agency has further downgraded three bond classes of WFRBS Commercial Mortgage Trust, 2013-C15, which had held a $703 million mortgage against the Kitsap Mall in Silverdale, Wash The...
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.
