Bloomberg Name: GCCFC 2007-GG9
Buyer of Houston’s One Westchase Center Assumes Maturing CMBS Loan
Commercial Real Estate Direct Staff Report Nitya Capital's purchase of the 466,159-square-foot One Westchase Center office building in downtown Houston involved the assumption of the property's indebtedness, including a $47 million CMBS loan. The Houston property owner bought the 12-story office ...
Boulevard Mall Near Buffalo, N.Y., Selling for $24.05Mln; CMBS Deal to Take Big Hit
The story below has been edited. The high bid was $24.05 million. It previously was overstated. Commercial Real Estate Direct Staff Report Boulevard Mall, a 1.1 million-square-foot shopping center near Buffalo, N.Y., generated a high bid of $24.05 million at ...
Expected Losses Prompt Fitch to Downgrade 2 Classes of GCCFC 2007-GG9
Fitch Ratings has downgraded two classes of Greenwich Capital Commercial Funding Corp., 2007-GG9, because of the losses it expects to result from collateral loans that are in special servicing. The rating agency downgraded the deal's $128.7 million class A-J to ...
Boulevard Mall Near Buffalo, N.Y., Given to CMBS Lender in Deed-in-Lieu of Foreclosure
Commercial Real Estate Direct Staff Report The Boulevard Mall near Buffalo, N.Y., is now classified as real estate-owned, or REO. The 1.1 million-square-foot retail property had served as collateral for a $90.4 million loan that was securitized through Greenwich Capital ...
Forest City to Give Up Boulevard Mall in Deed-In-Lieu of Foreclosure
Commercial Real Estate Direct Staff Report Forest City Realty Trust is giving up on its Boulevard Mall, a 1.1 million-square-foot shopping center near Buffalo, N.Y., and expects to transfer it to the CMBS trust that holds a $90.4 million loan ...
RXR Realty Recaps Long Island Properties, Pays Off $344Mln of Matured CMBS Debt
Commercial Real Estate Direct Staff Report RXR Realty Corp. has recapitalized five office buildings it owns on Long Island, N.Y., refinancing nearly $344 million of CMBS debt that had matured and buying out its venture partner, TIAA-CREF. The Uniondale, N.Y., ...
$108Mln Loan Against Long Island, N.Y., Office Nears Maturity, Goes to Special Servicer
The $108 million CMBS loan against the Omni Building, a 660,223-square-foot office property on Long Island, N.Y., has transferred to special servicing as it's expected to default when it matures in two weeks. The property, at 333 Earle Ovington Blvd. ...
CMBS Loan Against Boulevard Mall Classified as In Foreclosure
Commercial Real Estate Direct Staff Report The $91.9 million CMBS loan against the Boulevard Mall near Buffalo, N.Y., has been reclassified as being in foreclosure, meaning the trust that holds the loan likely will eventually own the property. The loan ...
Atlanta-Area Apartments Sell for $25.7Mln
Emma Capital Investments Inc. has paid $25.7 million, or roughly $85,670/unit, for the 3400 Club Apartments, with 300 units in the Atlanta suburb of Lawrenceville, Ga. The Toronto investment manager, which invests in apartment properties in the southeastern United States, ...
CMBS Loan on Boulevard Mall Transfers to LNR; Owner Slashes Value of Property
The following story has been edited to correct the Boulevard Mall's estimated fair value, which previously was understated. Commercial Real Estate Direct Staff Report The $92.4 million CMBS loan against the Boulevard Mall shopping center in the Buffalo, N.Y., suburb ...
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