Bloomberg Name: PCT 2016-PLSD

Commercial Real Estate Direct Staff Report Black Diamond Capital Management, which late last year bought the distressed $418.5 million CMBS loan against the Palisades Center Mall in Rockland County, N.Y., has taken over the 2.3 million-square-foot property. The move was expected ...

Commercial Real Estate Direct Staff Report Palisades Center Mall in New York's Rockland County is scheduled to be sold at a foreclosure auction on Feb. 4. News of the pending foreclosure auction was reported first by the Rockland County Business ...

Commercial Real Estate Direct Staff Report The $418.5 million loan against the Palisades Center Mall has been resolved, resulting in a $231.45 million loss to the CMBS transaction that held a $388.5 million portion. Every bond tranche of the transaction, ...

Over the past 12 months, 16 CMBS loans with a balance of $1.75 billion against enclosed shopping malls have been modified, with most receiving term extensions, according to data culled from the Trepp CRE platform.

Commercial Real Estate Direct Staff Report The weak performance of the Palisades Center shopping center in West Nyack, N.Y., coupled with its sharply reduced appraised value has prompted Moody's Investors Service to downgrade four classes of the CMBS deal that ...

Moody's Investors Service has downgraded classes C and D of Palisades Center Trust, 2016-PLSD, a single-borrower CMBS transaction backed by part of the mortgage against the Palisades Center in Nyack, N.Y., which has seen a decline in performance. The rating ...