Commercial Real Estate Direct Staff Report The Melohn Group, which owns the 574,878-square-foot office building at 111 West Jackson Blvd within Chicago’s Loop, is attempting to negotiate a workout of the property’s $105 million of CMBS...
Commercial Real Estate Direct Staff Report Pinnacle II, a 230,000-square-foot office building in Burbank, Calif, that serves as collateral for an $87 million CMBS loan has gone vacant The vacancy was highlighted in a TreppWire report The property,...
Philadelphia Business Journal The $2737 million CMBS loan against a portfolio of four Club Quarters hotels with a total of 1,228 rooms has defaulted and is headed toward foreclosure The loan is securitized through BX Trust, 2017-CQHP, and is senior...
Commercial Real Estate Direct Staff Report TriGate Capital has bought the Shops at Wiregrass, a 760,379-square-foot retail property in Wesley Chapel, Fla, for $705 million, or about $9272/sf The Dallas real estate investor financed its purchased in...
The Real Deal Uber is offering for sublease Chase Center Tower II, a 268,500-square-foot office property in San Francisco The rideshare company in 2019 started paying $85/sf for space at the building, but never moved in as it was having the property...
Commercial Real Estate Direct Staff Report Muncie Mall in Indiana has been appraised at a value of only $6 million, well less than the $312 million of mortgage debt against it The mortgage is securitized through JPMBB Commercial Mortgage Securities...
Commercial Real Estate Direct Staff Report The Brookfield Corp affiliate that owns the Crossroads Center Mall in St Cloud, Minn, has indicated it’s not willing to invest additional equity in the property, which would facilitate a workout of...
Commercial Real Estate Direct Staff Report Taubman Realty Group, which owns the Fair Oaks Mall in suburban Washington, DC, is seeking to get the $24317 million financing package against the property extended by four additional years It’s also...
Leasing activity in the Manhattan office market totaled 736 million square feet in the first quarter, nearly 10 percent less than the 10-year quarterly average of a little more than 8 million sf, according to Colliers The lackluster leasing is...
Commercial Real Estate Direct Staff Report The servicer of the $275 million mortgage against the fee interest in the Row Hotel, formerly the Milford Plaza at 700 Eighth Ave in Manhattan, has deemed its advances to no longer be recoverable As a...
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.
