Bisnow Dean Adler, who co-founded investment manager Lubert-Adler, has agreed to buy the former Franklin Mills Mall in Philadelphia, with plans to redevelop it into mixed uses. Adler would invest $100 million into remaking the 37-year-old shopping center, creating 250 ...
Commercial Real Estate Direct Staff Report Morningstar DBRS estimates that the three Club Quarters hotels in Chicago, San Francisco, and Philadelphia that back a $240.7 million mortgage securitized through BX Trust, 2017-CQHP, would recover only $142.7 million in a liquidation. ...
Commercial Real Estate Direct Staff Report Outlet Shoppes at Gettysburg, a 249,937-square-foot retail property in Gettysburg, Pa., was reappraised at the end of last year at a value of $14.8 million. CBL & Associates Properties Inc. owns the property but ...
The local company is said to be paying less than $100 million for the 37-story building, which is encumbered by a $368 million mortgage that's securitized through JPMorgan Chase Commercial Mortgage Corp., 2020-MKST. The loan has been with special servicer ...
North Palisade Partners has paid $39.3 million for two neighboring self-storage properties with 199,300 square feet in the Northern Liberties section of Philadelphia. The Newport Beach, Calif., investment manager pursues acquisition and development opportunities involving industrial, industrial outdoor storage and ...
The Chattanooga, Tenn., REIT, which filed for bankruptcy in 2021 and was able to eliminate $1.7 billion of debt and preferred equity through its restructuring, has stopped making payments against the three properties' mortgages, which have a total balance of ...
Commercial Real Estate Direct Staff Report An increase in the expected losses from the resolution of the $368 million loan against the 1.76 million-square-foot Centre Square office property in Philadelphia has prompted Moody's Ratings to further downgrade the two most-senior ...
Canyon Partners Real Estate and JPMorgan Chase Bank have provided $156 million of mortgage financing against the 889,300-square-foot Bridge Point South Philadelphia industrial property in Philadelphia. The short-term loan allowed the property's owner and developer, Bridge Industrial of Chicago, to ...
Affinius Capital has provided $145 million of mortgage financing against the 255-unit Josephine apartment property in Philadelphia's Rittenhouse Square neighborhood. The loan was arranged by Newmark and allowed the property's developer, Southern Land Co., to pay off a $112 million construction ...
Commercial Real Estate Direct Staff Report Haverford Retail Partners, which late last year paid $126 million for a portfolio of three retail properties with 767,546 square feet, funded its purchase with an $81 million loan from Citigroup. Part of the loan ...
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