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
Deal Name: Banc of America Comm Mtg Trust 2006-3
$101.5Mln CMBS Loan on Iowa Mall Moves to Special Servicing; Deed-in-Lieu Expected
Commercial Real Estate Direct Staff Report The $101.5 million CMBS loan against the Southern Hills Mall in Sioux City, Iowa, has transferred to special servicing as its maturity nears. The loan is securitized through Banc of America Commercial Mortgage Trust, ...
CMBS Loan Against Phoenix Airport Marriott Moves to Special Servicing Again
Commercial Real Estate Direct Staff Report The $61.9 million CMBS loan against the 347-room Phoenix Airport Marriott hotel has been transferred to special servicer CWCapital Asset Management once again. The loan, securitized through Banc of America Commercial Mortgage Trust, 2006-3, ...
Fifth Third Center in Columbus, Ohio, Sees 76 Percent Drop in Appraised Value
Commercial Real Estate Direct Staff Report The Fifth Third Center office building in downtown Columbus, Ohio, was appraised in June at a value of $18 million. That's bad news for Banc of America Commercial Mortgage Trust, 2006-3, which holds a ...
Tier REIT Tried Unsuccessfully to Sell Ohio Office
Commercial Real Estate Direct Staff Report Tier REIT Inc. had offered the 330,849-square-foot Fifth Third Center office complex in downtown Columbus, Ohio, for sale earlier this year, but withdrew the offering when offers it received fell below expectations. It hasn't ...
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 ...
Shortfalls to AJ Class Seen As $63.8Mln Loan Gets Special Treatment
Commercial Real Estate Direct Staff Report The $63.8 million CMBS loan against the Phoenix Airport Marriott has been transferred to special servicer CWCapital Asset Management because it's expected to default. And its transfer, which was highlighted by Fitch Ratings in ...
N.J. Office Sells for $8.35Mln; $80Mln CMBS Loan Gets Walloped
GAF Materials Corp. has paid $8.35 million, or roughly $22/sf, for One Campus Drive, a 377,000-square-foot office building in Parsippany, N.J., according to a report in the Bergen Record. The property had served as collateral for an $80 million CMBS ...
Special Servicer Eyes Foreclosure of Loan on South Dakota Mall
Commercial Real Estate Direct Staff Report CWCapital Asset Management is planning to foreclose on the $94 million CMBS loan against the Rushmore Mall in Rapid City, S.D. That's a change from recent months, during which the special servicer was in ...
$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 ...
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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.
