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 Staff Report An affiliate of Procaccianti Cos is in talks to possibly turn over, in a deed-in-lieu of foreclosure, the Hilton Suites Chicago Magnificent Mile to the CMBS trust that holds a $6997 million matured loan...
The Columbus, Ohio, REIT late yesterday filed for Chapter 11 bankruptcy in the Southern District of Texas The company said the filing will allow it to restructure its corporate-level debt, giving Washington Prime the opportunity to de-leverage its...
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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