Subject: Commercial MBS (CMBS)

Commercial Real Estate Direct Staff Report The Hagerstown Premium Outlets retail property in the Maryland panhandle has had its appraised value reduced for the fourth time since its CMBS loan got into hot water in 2020. The 484,994-square-foot retail property ...

Commercial Real Estate Direct Staff Report The Heinz 57 Center office and retail building in downtown Pittsburgh has been reappraised at a value of only $19.8 million. The 14-story building was constructed in 1913 at 339-357 6th Ave. as a ...

The Santa Monica, Calif., mall owner still has $300 million to $400 million of properties to get rid of before completing its Path Forward plan, an effort designed to reduce its overall leverage level and leave it with a portfolio ...

Commercial Real Estate Direct Staff Report The owner of Chicago's 2.78 million-square-foot Aon Center office property is looking to negotiate a term extension of the property's $536 million senior mortgage. The loan, which is senior to $141.5 million of mezzanine ...

Last month, $1.83 billion of CMBS loans transferred to special servicing, according to Trepp Inc. That was the smallest volume of transfers since the end of last year. But special servicers didn't keep pace in their workouts, as $1.2 billion ...

Commercial Real Estate Direct Staff Report The commercial real estate market is enjoying a period of substantial lender liquidity. Properties that have been stabilized will generally be able to get financing and often will find offers from a number of ...

Commercial Real Estate Direct Staff Report The commercial real estate sector has become increasingly bifurcated. Class-A properties, even offices, are doing quite well. Others: not so much. That was the meat of the discussion at the Bifurcation and Recovery panel ...

Commercial Real Estate Direct Staff Report The $80 million CMBS loan against the 441,523-square-foot 3000 Post Oak Blvd. office building in Houston's Galleria area is headed to foreclosure. The loan is divided among three CMBS deals, with a $35 million ...

The volume of CMBS loans that are classified as being delinquent declined in April by $815 million, or 1.78%, to $45.02 billion. Delinquency volumes have gyrated over the past 12 months, climbing in six months and declining in another six.

Prime Finance, an alternative lender that also invests in the most subordinate classes of CMBS conduit deals, is on track to fund more than $4 billion of loans this year.