property type: Retail

Commercial Real Estate Direct Staff Report The Starwood Capital Group venture that owns the Louis Joliet Mall in the Chicago suburb of Joliet, Ill., is negotiating a handover of the property through a deed-in-lieu of foreclosure to its lender, UBS-Barclays ...

Crain's New York Business Orb Management has filed a lawsuit in New York State Supreme Court, alleging that fitness company Equinox defaulted on most of its rental payments since March for its space at 421 Hudson St. in Manhattan. Orb ...

Shopping malls continue to face challenges, but well-capitalized sponsors increasingly have been able to negotiate modifications for loans against properties that had performed strongly before the coronavirus pandemic.

Pyramid Cos. has reached an agreement for the modification of a CMBS loan against another of its shopping malls. That brings the volume of loans for which the Syracuse, N.Y., developer has reached modification agreements to $2 billion, or 91 ...

Commercial Real Estate Direct Staff Report Pennsylvania REIT has reached a modification agreement with 80 percent of the lenders on nearly $1.1 billion of outstanding debt. The Philadelphia company owns 26 retail properties with more than 20 million square feet. ...

Commercial Real Estate Direct Staff Report Brookfield Properties has put the Centre at Salisbury shopping mall in Salisbury, Md., on the sales block. The investment manager, which had assumed the 881,067-square-foot retail property through its 2016 acquisition of Rouse Properties ...

South Florida Business Journal Seritage Growth Properties has sold the 106,000-square-foot retail property at 1460 West 49th St. in Hialeah, Fla., for $21 million, or about $198.11/sf. Affiliate of CTO Realty Growth of Daytona Beach, Fla., bought the property, which ...

Commercial Real Estate Direct Staff Report The $168 million mortgage against the Park Place Mall in Tucson, Ariz., has moved to special servicing as it's expected to default. The property's owner, meanwhile, has indicated that it is unwilling to invest ...