Shopping malls continue to face challenges, but well-capitalized sponsors increasingly have been able to negotiate modifications for loans against properties that had performed strongly before the coronavirus...
Pyramid Cos has reached an agreement for the modification of a CMBS loan against another of its shopping malls That brings the volume of loans for which the Syracuse, NY, developer has reached modification agreements to $2 billion, or 91 percent of...
Commercial Real Estate Direct Staff Report Pennsylvania REIT has reached a modification agreement with 80 percent of the lenders on nearly $11 billion of outstanding debt The Philadelphia company owns 26 retail properties with more than 20 million...
Commercial Real Estate Direct Staff Report The $168 million mortgage against the Park Place Mall in Tucson, Ariz, has moved to special servicing as it’s expected to default The property’s owner, meanwhile, has indicated that it is...
DivcoWest has completed raising capital for its latest fund, DivcoWest Fund VI, after having reached its hard cap of $225 billion of equity commitments The fund, which the San Francisco investment manager had launched a year ago, is its largest...
Commercial Real Estate Direct Staff Report The owner of the Fontainebleau Miami Beach hotel has negotiated the modification of the property’s $975 million CMBS loan The owner, Fontainebleau Development, is now able to defer the hefty deposits...
Commercial Real Estate Direct Staff Report Capital-raising for real estate investment funds declined to $207 billion during the third quarter, according to Preqin, from $454 billion in the second quarter It marks the lowest quarterly volume in at...
Jonathan Rose Cos, a long-time investor in affordable-housing properties, has raised its largest commingled fund ever, Rose Fund V, which was oversubscribed, with $525 million of equity commitments The company had set a $500 million top-end target...
Investment bank Brean Capital has hired a team of seasoned CMBS servicing professionals and launched a commercial mortgage special servicing operation, Brean Real Estate Solutions The team is comprised of Julie Madnick, Henry Bieber and Linda...
Commercial Real Estate Direct Staff Report The $652 million distressed loan against the Southland Mall near downtown Miami has been put up for sale The loan is the last remaining asset in the collateral pool for JPMorgan Chase Commercial Mortgage...
