Deal Name: GS Mortgage Securities Trust
CMBS Loan Against Hawaii Mall Defaults, Transfers to Special Servicer
Commercial Real Estate Direct Staff Report The largest loan in the collateral pool of GS Mortgage Securities Trust, 2014-GC26, is now classified as being more than 30 days late, and the owner of the shopping mall that it encumbers is ...
2 Big CMBS Loans Against Shopping Malls Move to Special Servicing
The $247.5 million loan against the Walden Galleria shopping center near Niagara Falls, N.Y., and the $112.3 million loan against the Coastal Grand Mall in Myrtle Beach, S.C., have transferred to special servicing. Neither loan is delinquent, but both properties ...
95,170-SF Office Building in Houston Sold
Dallas CityBizList LNR Partners, on behalf of GS Mortgage Securities Trust, 2014-GC26, has sold the 95,170-square-foot office building at 10500 Richmond Ave. in Houston. Colliers International brokered the deal for the CMBS trust's special servicer. Mond Properties bought the two-story ...
PREIT Turns Over Wyoming Valley Mall in Deed-In-Lieu of Foreclosure
Commercial Real Estate Direct Staff Report Pennsylvania REIT formally has conveyed the Wyoming Valley Mall in the Scranton/Wilkes-Barre area of northeastern Pennsylvania to its lender, GS Mortgage Securities Trust, 2014-GC18, which held a $72.9 million loan against the 909,757-square-foot shopping ...
Appraised Value of Mall in Northeastern Pa. Gets Slashed by Three-Quarters
Commercial Real Estate Direct Staff Report The Wyoming Valley Mall in the Scranton/Wilkes-Barre area of northeastern Pennsylvania has been appraised at a mere $31 million - $41.9 million less than the property owes against a $72.9 million CMBS loan. The ...
Houston’s Three Westlake Office Building Sees Value Cut by One-Third to $41Mln
Commercial Real Estate Direct Staff Report Three Westlake Park, a 419,671-square-foot office building in Houston has been valued at a mere $41 million, about one-third of its appraised value just five years ago. The property, which includes a seven-story parking ...
Owner of Houston’s Three Westlake Offers DPO, A-B Mod; CMBS Deal Gets Downgrade
Commercial Real Estate Direct Staff Report The owner of the completely vacant Three Westlake Park office property in Houston has offered to resolve its troubled $80 million CMBS loan, either by buying it at a discount or by having it ...
San Francisco Creative Office Building Sells for $1,082.25/SF
Toy Real Estate Investment Co. has paid $29 million, or $1,082.25/sf, for the 26,796-square-foot creative office building at 604 Mission St. in San Francisco's TransBay district. The San Francisco company, represented by Coldwell Banker, bought the 113-year-old building from an ...
$74.3Mln CMBS Loan Against Pa. Mall Moves to Special Servicer as Vacancies Increase
Commercial Real Estate Direct Staff Report The $74.3 million CMBS loan against the Wyoming Valley Mall in the Scranton/Wilkes-Barre area of northeastern Pennsylvania has transferred to special servicer LNR Partners because it's expected to default. Its transfer, highlighted this morning ...
Energy Firm Offers More Than 800,000 SF for Sublease in Houston
Houston Business Journal Occidental Petroleum Corp. is bringing 813,595 square feet of office space in Houston to the sublease market. The energy company is offering 746,070 sf at 5 Greenway Plaza and 67,525 sf at 3 Greenway Plaza. It is ...
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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.
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