David Simon Passes Away After Battle with Cancer
March 23, 2026
CREFC’s Lisa Pendergast Retiring in August
March 20, 2026
Brookfield Revives GGP Name for Malls
January 7, 2026
City: Rapid City
Rushmore Mall
A total of 727,725 square feet at the 839,284-sf shopping mall had served as collateral for the CMBS loan, which first had transferred to special servicing in 2011 when it became unclear whether anchor JCPenney would remain in its 89,909-sf ...
Rushmore Mall in Rapid City, S.D., Sold for $22.42Mln; Spells Big Loss to 2006 CMBS Trust
RockStep Capital Corp. bought the 839,284-square-foot shopping mall for $22.42 million, resolving the last remaining asset in Banc of America Commercial Mortgage Trust, 2006-3. The liquidation of the CMBS loan resulted in $71.55 million of losses, bringing total losses to ...
Buyer of South Dakota Apartments Lines Up $20.74Mln HUD Loan
A venture of Circle Capital Partners and Tzadik Properties has lined up $20.74 million of financing for its purchase of LaCrosse Estates, a 265-unit apartment property in Rapid City, S.D. Merchants Bank of Winona, Minn., provided the loan, which was ...
Last Asset in BACM 2006-3 Becomes REO
Commercial Real Estate Direct Staff Report The Washington Prime Group affiliate that owns the Rushmore Mall in Rapid City, S.D., last week turned the property over to its lender, Banc of America Commercial Mortgage Trust, 2006-3, which had held a ...
Rushmore Mall in South Dakota Valued at $37.1Mln in Latest Appraisal
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 ...
$24.2Mln Construction Loan Lined Up for Rapid City, S.D., Apartments
Midwest Real Estate Journal Hagg Brothers LLC has obtained a $24.2 million construction loan for a 160-unit apartment project in Rapid City, S.D. The project, Moon Meadows Apartments, will sit within the Moon Meadows mixed-use development, which includes a mix ...
CMBS Loan Against Rushmore Mall Sees $48.6Mln Appraisal Reduction
Commercial Real Estate Direct Staff Report The $94 million CMBS loan against the Rushmore Mall in Rapid City, S.C., which recently was modified into A- and B-notes, was hit with an appraisal reduction of $48.6 million, to reflect the $52 ...
$94Mln CMBS Loan Against Dakota Mall Gets Modified into A/B Notes
Commercial Real Estate Direct Staff Report The $94 million CMBS loan against the Rushmore Mall in Rapid City, S.D., has been modified into A and B notes. The property's owner, Washington Prime Group, detailed the modification in its third-quarter earnings ...
$94Mln Loan Against South Dakota Mall Goes to Special Servicing
Commercial Real Estate Direct Staff Report A $94 million CMBS loan against the Rushmore Mall in Rapid City, S.D., which Simon Property Group recently acquired from a venture it operated with Macerich Co., has been transferred to special servicing once ...
2 Apartment Projects Planned for Raleigh, N.C., Area
The Business Journal of the Greater Triad Area The Carroll Cos. is planning to spend about $66 million on two apartment projects in the Raleigh, N.C., area. The properties, which will be developed in Raleigh and Cary, N.C., will have ...
About
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.
