New York Post Savanna Partners is offering for sale 1375 Broadway, a 510,000-square-foot office building in Manhattan. The property is be marketed by Studley Inc. and is expected to sell in the $500/sf range. Savanna bought it in 2010 $135 ...
Commercial Real Estate Direct Staff Report The $124.5 million CMBS loan against Metropolitan Square, a 987,300-square-foot office building in downtown St. Louis, has been modified. The loan, which is senior to a $25.5 million B-note, suffered when it started amortizing ...
Following is a list of recent downgrades by Moody's Investors Service: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Notes JPMorgan Chase Commercial ...
A $124.5 million CMBS loan against Metropolitan Square, a 987,300-square-foot office building in downtown St. Louis, has been moved to special servicing because it's expected to default. The loan, securitized through Wachovia Bank Commercial Mortgage Securities Trust, 2005-C21, started amortizing ...
Commercial Real Estate Direct Staff Report Prudential Real Estate Investors has agreed to sell its 94.9 percent interest in a 36-property self-storage venture to Extra Space Storage Inc., its minority partner, for $298 million. Extra Space Storage will assume an ...
Cerberus Capital Management is said to be weighing offering a portfolio of six resort hotels in Hawaii and California. It is said to be driven by the expectation that the properties, which have a combined 5,231 rooms, could sell for ...
Commercial Real Estate Direct Staff Report Occupancy issues have prompted the transfer of a $44.7 million loan against a Sacramento, Calif., retail center to LNR Partners, special servicer of the CMBS trust that holds the debt. The property, Park Place ...
Las Vegas Sun The 826-room Westin Casuarina Las Vegas Hotel, Casino & Spa will go to the lender after owner Columbia Sussex Corp. defaulted on the property's $146 million loan. Columbia Sussex, of Crestivew Hills, Ky., has chosen not to ...
Commercial Real Estate Direct Staff Report An affiliate of Gramercy Capital Corp. that holds mezzanine debt against a portfolio of 107 extended-stay hotels with some 7,100 rooms, has filed for bankruptcy, thwarting an effort by another mezzanine lender to foreclose ...
A $1.1 billion securitized loan against a portfolio of six resort hotels in Hawaii and California owned by Kyo-ya Hotels & Resorts has been modified, according to a report in the Wall Street Journal. The newspaper, citing unnamed sources, said ...
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