Commercial Real Estate Direct Staff Report The 31 apartment properties with 3,505 units in New York City that back a troubled $5063 million CMBS loan continue to face challenges, with expenses growing at a far faster clip than revenue The...
The CMBS trusts that hold a $167 million loan against the fee interest in, or ground beneath, the 11 million-sf office building at 300 South Riverside Plaza in Chicago have filed to take the asset through foreclosure...
Commercial Real Estate Direct Staff Report The Queens Place retail property in the Elmhurst neighborhood in Queens, NY, which is encumbered by $110 million of financing, has been reappraised at a value of $90 million The circular property is owned...
Ashford Hospitality Trust Inc, which started evaluating strategic alternatives late last year, has continued selling individual properties and is marketing for sale 18 hotels as it addresses its $26 billion debt...
Tampa Bay Business Journal Ram Realty Advisors has paid $131 million, or $400,612/unit, for Beacon 430, a 327-unit apartment complex in downtown St Petersburg, Fla The Palm Beach Gardens, Fla, company purchased the four-story property from Ascent...
Commercial Real Estate Direct Staff Report Starbucks Corp, which was founded in 1971 in Seattle’s famed Pike Place Market, is expanding its office footprint—but not in its hometown Instead, the coffeehouse chain is looking for about 250,000...
Commercial Real Estate Direct Staff Report The continued weak performance of One State St in Lower Manhattan has prompted S&P Global Ratings to downgrade the five classes of a CMBS deal that holds a $945 million piece of a $360 million loan...
Bloomberg Bank of America has agreed to take occupancy of all 236 million square feet at the One Bryant Park office building in Midtown Manhattan The 51-story property was constructed in 2008 catercorner to Bryant Park on 42nd Street It is owned by...
Commercial Real Estate Direct Staff Report The $133 million CMBS loan against the 780,648-square-foot Panorama Corporate Center office property in the Denver suburb of Centennial, Colo, wasn’t paid off at its maturity last month As a result,...
The Chattanooga, Tenn, REIT, which filed for bankruptcy in 2021 and was able to eliminate $17 billion of debt and preferred equity through its restructuring, has stopped making payments against the three properties' mortgages, which have a total...
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.
