Holder of Distressed Loan Takes Title to Chicago Office Backing It
Crain’s Chicago Business A venture of Glenstar Properties and investor Patrick Halloran has taken title to the 966,924-square-foot office building at 500 West Monroe St. in Chicago through a deed in lieu of foreclosure. The venture previously purchased the...
Dwight Mortgage Trust Lends $183Mln for Construction of Calif. Apartments
Dwight Mortgage Trust has provided $183 million of financing for the construction of a 530-unit apartment property in the northern California city of Gilroy. The loan is the largest construction loan ever originated by the company, the mortgage REIT...
Proposed Sale of Phila.’s 1500 Market St. Falls Apart
Philadelphia Inquirer The proposed sale of the 1.76 million-square-foot office building at 1500 Market St. in downtown, or Center City Philadelphia, evidently has fallen apart. The 37-story building, commonly referred to as Centre Square, backs a $368 million mortgage...
Chicago’s Aon Center Gets Another Reduction in Appraised Value
Commercial Real Estate Direct Staff Report The 2.78 million-square-foot Aon Center office property in Chicago has been re-appraised at a value of $195 million. It marks the third time the 83-story building - the third tallest in the city...
Office Distress Isn’t Just a Downtown Problem
The office sector has been ground zero for distress in the commercial real estate market, but CMBS delinquencies suggest a nuanced picture.
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