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 ...
LNR Partners Inc. is offering for sale the 535,365 square feet of non-anchor retail space at the Merritt Square Mall in Merritt Island, Fla., that had served as collateral for a $52.2 million CMBS loan. The space, which is being ...
The 107,921-square-foot Trolley Square shopping center in East Haven, Conn., has sold for $22 million, or about $203.85/sf. New York investor Leslie Garfield acquired the property, at 360 Hemingway Ave., from an investor group as part of a tax-deferred exchange. ...
TNP Strategic Retail Trust Inc. has completed its $25.7 million purchase of the Waianae Mall, with 170,275 square feet outside of Honolulu.The non-traded REIT, headquartered in Irvine, Calif., had struck a deal to buy the 92-percent occupied shopping center last ...
The adviser of TNP Strategic Retail Trust Inc., a non-traded REIT, is trying to again postpone the closing date for its $25.7 million purchase of the Waianae Mall, a 170,275-square-foot retail center in Honolulu.The adviser, Thompson National Properties, struck a ...
By John Covaleski, Commercial Real Estate Direct Staff WriterA long-troubled former industrial property in Phoenix is expected to generate more than enough income to meet the debt-service requirement on its securitized loan thanks to a newly-signed tenant.Area brokers speculate that ...
Fitch Ratings has downgraded three classes of Morgan Stanley Capital I Trust, 2006-IQ11, because of an increase in the number of loans in special servicing as well as an expected increase in losses. The rating agency also placed two classes ...
By Jeff Mordock, Commercial Real Estate Direct Staff Writer CB Richard Ellis Investors has bought out the tenant-in-common investor group that it partnered with to acquire the Phoenix bottling plant and headquarters of Le-Nature's Inc., a now-defunct soft-drink manufacturer. It ...
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