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Commercial Real Estate Direct Staff Report The Rushmore Mall in Rapid City, S.D., which backs a $94 million CMBS loan, has been appraised at a value of $37.1 million. That compares with the $117.5 million appraised value set in 2006 ...
Commercial Real Estate Direct Staff Report Rushmore Mall, an 831,040-square-foot retail property in Rapid City, S.D., is "over-levered and non-core," according to its owner, Washington Prime Group. That's an indication that the Columbus, Ohio, REIT is willing to allow the ...
Commercial Real Estate Direct Staff Report The $94 million CMBS loan against the Rushmore Mall in Rapid City, S.D., has transferred to special servicing again, as the property faces substantial potential vacancies. The loan, which was modified into A ...
Commercial Real Estate Direct Staff Report Washington Prime Group's discounted purchase of the $99.7 million loan against its Southern Hills Mall in Sioux City, Iowa, resulted in the CMBS trust that held the loan suffering $47.7 million of losses. As ...
Commercial Real Estate Direct Staff Report Washington Prime Group has struck a deal that effectively results in it retiring a troubled $99.7 million CMBS loan against its Southern Hills Mall in Sioux City, Iowa, at a substantial discount. The Columbus, ...
The following story has been edited to identify C-III Asset Management as the loan's most recent special servicer. It became special servicer in July 2016. Commercial Real Estate Direct Staff Report Taconic Capital Advisors earlier this year had paid $39.7 ...
The Southern Hills Mall in Sioux City, Iowa, formally has been placed on the sales block. The property, which backs a $99.7 million CMBS loan, could see a price tag of perhaps $60 million to $65 million. Newmark Knight Frank, ...
Commercial Real Estate Direct Staff Report The Southern Hills Mall in Sioux City, Iowa, has been appraised at a value of $62.5 million. That compares with a $127.5 million appraised value when its $101.5 million loan, securitized through Banc of ...
Commercial Real Estate Direct Staff Report The $101.5 million CMBS loan against the Southern Hills Mall in Sioux City, Iowa, has been hit with a $25.4 million appraisal reduction amount. The loan is securitized through Banc of America Commercial Mortgage ...
Commercial Real Estate Direct Staff Report The River Valley Mall, a 521,578-square-foot shopping center in Lancaster, Ohio, owned by WP Glimcher Inc., was appraised earlier this year at a value of only $27 million. That prompted an appraisal reduction of ...
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