Subject: Commercial MBS (CMBS)
Appraised Value of Shops at Mission Viejo in Southern Calif. Gets Big Haircut
Commercial Real Estate Direct Staff Report Shops at Mission Viejo, a 1.24 million-square-foot shopping mall in the Southern California city of Mission Viejo, Calif., has been appraised at a value of $298 million, just more than the $295 million that ...
$1Bln of CMBS, Mezz Debt on Manhattan’s 375 Park Ave. Gets 1-Year Extension
Commercial Real Estate Direct Staff Report The $1 billion loan against the Seagram office building at 375 Park Ave. in Manhattan has had its term extended by a year through May 2024 as part of a modification negotiated by the ...
Washington, D.C.’s Office Availability Rate Increases, Even as Inventory Declines
The Washington, D.C., office market had an availability rate of 21.7 percent in the first quarter - a record high - according to Savills. Meanwhile, its office inventory fell to 122.1 million sf from 124 million sf at the same ...
$232.5Mln CMBS Loan Against Kansas City-Area Office Property Lands in Special Servicing
Commercial Real Estate Direct Staff Report The $232.5 million loan against the 3.27 million-square-foot Aspiria office campus in Overland Park, Kan., has transferred to special servicing due to imminent default. The transfer to special servicer KeyBank was highlighted this morning ...
$65Mln CMBS Loan Against Brooklyn, N.Y., Mixed-Use Center at Risk of Default
Commercial Real Estate Direct Staff Report The $65 million securitized mortgage against the Kingwood Center, a 130,218-square-foot mixed-use property in the Midwood section of Brooklyn, N.Y., has transferred to special servicing as its expected to default. The loan is securitized ...
Pacific Retail Capital Was Buyer of Bridgewater Commons
Pacific Retail Capital Partners last Friday completed its purchase of the Bridgewater Commons shopping center and its adjoining Village at Bridgewater Commons open-air retail center in northern New Jersey. The company, which assumed a $300 million CMBS loan against the ...
Cumberland Mall in Atlanta Gets $180Mln Loan, Refinancing Maturing $160Mln Loan
Deutsche Bank, Morgan Stanley and Bank of Montreal have provided $180 million of financing against the Cumberland Mall in Atlanta. Proceeds from the five-year loan, which requires only interest payments for its full term, were used to retire a $160 ...
CMBS Delinquency Volume, Rate Essentially Flat in April
Commercial Real Estate Direct Staff Report CMBS delinquencies inched up in April to $19.1 billion from $19.07 billion, leaving the delinquency rate unchanged at 3.09 percent, according to Trepp Inc. The small increase in delinquency was offset by a rise ...
RFR Realty Gets Term Extension on $1Bln of Debt on Manhattan’s Seagram Building
The Real Deal RFR Realty has negotiated what is said to be a multi-year extension of the $1 billion mortgage against the 830,928-square-foot Seagram office building at 375 Park Ave. in Manhattan. The financing had matured this week and is ...
Ashford Hospitality Gets Extensions on 2 Big Loans, in Talks on Another Huge Loan
Ashford Hospitality Trust Inc. has negotiated the extension of two large CMBS loans totaling $1.12 billion. To ease the process, it paid down the loans by a total of $95 million. It's now in talks to negotiate an extension of ...
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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.
