Bloomberg Name: MSC 2011-C3
Lancaster, Pa., Mall Loses 2 of 5 Anchor Tenants; CMBS Loan at Risk of Default
Commercial Real Estate Direct Staff Report The 1.2 million-square-foot Park City Center mall in Lancaster, Pa., recently lost two of its five anchor tenants, putting its $135.3 million CMBS loan at an increased risk of default. The loan, which is ...
Tenant Departure Puts CMBS Loan Against Texas Offices at Risk
Commercial Real Estate Direct Staff Report American Airlines, the sole tenant at Royal Ridge - III, a 123,740-square-foot office building at 3939 John Carpenter Freeway in Irving, Texas, will be vacating the property at the end of the year. The ...
Tier REIT Considers Reducing Exposure to Houston Office Market
The Dallas-based REIT is considering reducing its presence in the Houston office market. It owns three properties with a total of about 2.23 million square feet that it carries on its balance sheet at a combined value of $535 million. ...
BankUnited Lends $41.79Mln Against Clearwater Beach, Fla., Hotel
BankUnited has provided $41.79 million of mortgage financing against the 390-room Sheraton Sand Key Resort in Clearwater Beach, Fla. The fixed-rate loan, which was arranged by HFF, matures in 2021. It replaced a $29.9 million loan that was securitized through ...
Allegiance Offers for Sale Birmingham, Ala., Office Property
Commercial Real Estate Direct Staff Report Allegiance Realty Corp. is offering for sale Renasant Place, a 278,160-square-foot office building in downtown Birmingham, Ala. The 15-story property, at 2001 Park Place North, could sell for about $40 million, or $144/sf, which ...
Swig Venture Pays About $150Mln for Los Angeles Office Building
Commercial Real Estate Direct Staff Report A venture of Swig Co. and Intercontinental Real Estate Corp. has paid $150 million, or $368/sf, for 6300 Wilshire Blvd., a 408,000-square-foot office building in Los Angeles. The 22-story property, which backs $53 million ...
66-Acre Industrial Park in Charlotte Fetches $52.1Mln
Charlotte Business Journal A venture of LRC Opportunity Fund and New York Life Real Estate Investors has bought the 1.1 million-square-foot Logistics Pointe industrial park in Charlotte, N.C., for $52.1 million, or about $47.36/sf. Westmount Realty Captial sold the five-building ...
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