Retail Center in Kailua, Hawaii, Sells for $66Mln
March 29, 2023
IDI Logistics to Bring Industrial Project to Gastonia, N.C.
March 29, 2023
Subject: Commercial MBS (CMBS)
Matured $75.55Mln Loan Against Pecanland Mall in La. Moves to Special Servicing
Commercial Real Estate Direct Staff Report The $75.55 million CMBS loan against the Pecanland Mall in Monroe, La., has transferred to special servicer Greystone Servicing Co. because it wasn't refinanced at its maturity earlier this month. The loan had an ...
CMBS Trusts to Take Chicago Office Property in Foreclosure
Commercial Real Estate Direct Staff Report The CMBS trusts that hold a $42.4 million loan against the 487,000-square-foot office property at 401 South State St. in Chicago are poised to take the property through foreclosure. The foreclosure was first highlighted ...
Hilton Minneapolis Gets Taken Through Foreclosure
Commercial Real Estate Direct Staff Report JPMorgan Chase Commercial Mortgage Securities Corp., 2018-MINN, which held a $180 million mortgage against the 821-room Hilton Minneapolis hotel, has taken the property through foreclosure. The foreclosure, highlighted in a TreppWire report, indicates that modification ...
CMBS Loan on Los Angeles’ Gas Co. Tower Matures, Transfers to Special Servicer
Commercial Real Estate Direct Staff Report The $350 million senior securitized loan against the Gas Co. Tower and nearby World Trade Center Garage, at 350 South Figueroa St., in Los Angeles, formally has transferred to special servicing. The move had ...
Maturing $300Mln Loan Against N.J. Shopping Center Transfers to Special Servicing
Commercial Real Estate Direct Staff Report The $300 million CMBS loan against the Bergen Town Center shopping mall in northern New Jersey has transferred to special servicer KeyBank because it's expected to default at its maturity next month. The loan ...
Philadelphia’s 1500 Market St. Office Property Sees 21 Percent Drop in Appraisal
Commercial Real Estate Direct Staff Report The 1.76 million-square-foot office property at 1500 Market St. in Center City, or downtown, Philadelphia, has been appraised at a value of $401.2 million. That's down 21 percent from the $509.4 million value pegged ...
LNR to Offer Distressed CMBS Loan Against Long Island’s Oheka Castle Again
LNR Partners once again will be trying to sell the nonperforming CMBS loan against the historic Oheka Castle on Long Island's North Shore. It tried selling it last fall, but didn't get bids that were high enough. It's hired Mission ...
CMBS Trust Takes Hawaii Retail Center in Foreclosure
Commercial Real Estate Direct Staff Report The CMBS trust that holds a $48 million loan against the King's Shops retail center, with 69,023 square feet in Waikoloa Village on the Big Island of Hawaii, has taken the property through foreclosure. ...
Wells Fargo, Morgan Stanley, BofA Launch Five-Year CMBS Conduit Deal
Commercial Real Estate Direct Staff Report Wells Fargo Bank, Morgan Stanley and Bank of America have launched their latest BANK-branded CMBS transaction. But this one, BANK5, 2023-5YR1, comes with a couple of twists. For one, Citigroup is contributing loans, and ...
Chicago’s 135 South LaSalle’s Appraised Value Drops Below Loan Balance
Commercial Real Estate Direct Staff Report Downtown Chicago's 135 South LaSalle St., a 1.31 million-square-foot office building, has had its appraised value slashed once again, to $90 million, 10 percent less than the $100 million that is owed against it. ...
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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.
