STR and Tourism Economics, which late last year had projected that revenue per available room, a widely used performance metric for hotels, would fully recover in 2023, now expect it to fully recover, on a nominal basis, this year The latest...
Commercial Real Estate Direct Staff Report The $6508 million CMBS loan against the Southland Center Mall in the Detroit suburb of Taylor, Mich, defaulted at its maturity last month The loan is the second largest in the collateral pool for...
The volume of CMBS loans in special servicing declined by a mere 035 percent in July, to $2915 billion, marking the smallest monthly decline since January 2021 While the volume of retail and hotel loans continued to decline, the volume of office...
Commercial Real Estate Direct Staff Report A total of 109 million square feet of office space was absorbed in Manhattan last month, marking the strongest month, in terms of absorption, since August 2021, according to Colliers Two of the...
Moody’s Investors Service has downgraded the $4924 million class A-S, to Ba2 from Baa3, of Morgan Stanley Bank of America Merrill Lynch Trust, 2013-C11, because of the losses it expects the bond class to suffer, as well as the increased risk...
Inline store sales at the 44 shopping malls owned by Macerich Co increased in the second quarter by 76 percent from a year ago, to $860/sf That's the highest-ever store sales level recorded by the REIT and is 11 percent greater than levels reached...
Commercial Real Estate Direct Staff Report The Philadelphia 76ers professional basketball team’s plans for a new arena in the city’s downtown area will affect the Fashion District retail complex that was redeveloped in late 2019 The...
Commercial Real Estate Direct Staff Report Midland Loan Services has placed the $12 million CMBS loan against 130 Bowery, a 32,700-square-foot retail property in Manhattan, on the sales block It’s hired B6 Real Estate Advisors of New York to...
REBusinessOnline First National Realty Partners has bought Heritage Park, a 167,000-square-foot retail center in Suisan City, Calif Terms of the deal were not disclosed The property is encumbered by a $27 million loan that’s securitized...
Commercial Real Estate Direct Staff Report The total volume of CMBS loans classified as delinquent declined by $632 million to $1851 billion, according to Trepp Inc That amounts to 3052 percent of the $60658 billion universe Trepp tracks and is 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.
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