Valuation: Less than $10 million
Indiana’s Muncie Mall Sees Further Drop in Appraised Value
Commercial Real Estate Direct Staff Report Muncie Mall in Indiana has been appraised at a value of only $6 million, well less than the $31.2 million of mortgage debt against it. The mortgage is securitized through JPMBB Commercial Mortgage Securities ...
Kohan Retail Buys Indiana Mall for $6.9Mln
Kohan Retail Investment Group has acquired the Indiana Mall in Indiana, Pa., which had secured a distressed $12.1 million CMBS loan, for $6.9 million, or $15/sf. The sale, highlighted in a TreppWire report, was first reported in the Indiana Gazette. ...
SL Green Seeks to Foreclose on Mezz Loan Against Manhattan Retail Building
The Real Deal SL Green Realty Corp., which holds a $4 million mezzanine loan against 690 Madison Ave. in Manhattan's Lenox Hill area, has moved to foreclose against the 7,850-square-foot retail building. The property, leased to high-end retailer Hermes, is ...
Advance Publications Pays Nearly $10Mln in Back Rent at Manhattan’s One World Trade Center
New York Post Advance Publications has paid nearly $10 million in back rent for the 1.1 million square feet of space it leases at One World Trade Center in Manhattan. The company, Conde Nast's parent, had withheld paying rent in January, ...
McKinley Mall in Buffalo, N.Y., Selling to Kohan Retail for $8.5Mln
Commercial Real Estate Direct Staff Report McKinley Mall in Buffalo, N.Y., is being acquired by Kohan Retail Investment Group, resolving a troubled $32.2 million CMBS mortgage against the retail property. A report by Spectrum News pegged the property's purchase price ...
Kohan Retail Bought Manhattan’s Shoreham Hotel for $1.8Mln
Kohan Retail Investment Group was the buyer of the Shoreham Hotel in midtown Manhattan. The 179-room property had been owned by Credit Suisse Mortgage Securities Trust, 2007-C1, which had held a $32.9 million loan until its foreclosure four years ago. ...
Department Store Chain Sued for Unpaid Rent at Manhattan’s 22 Cortlandt St.
Commercial Observer Mayore Estates has filed a lawsuit in New York County Supreme Court, claiming department store chain Century 21 owes nearly $3.2 million in unpaid rent at 22 Cortlandt St. in Manhattan. Mayore, which owns the building, is seeking ...
135-Unit Apartment Property in Scottsdale, Ariz., Trades for $17.5Mln
An affiliate of 3910 Girard Properties Inc. has paid $17.5 million, or $129,629/unit, for the Flats at Granite Reef, a 135-unit apartment property in Scottsdale, Ariz. The Beverly Hills, Calif., management company bought the property as a part of a ...
Venture Pays $7.5Mln for W.Va. Mall; Last Asset in 2007 CMBS Deal
A venture led by Hull Property Group has paid $7.5 million for the Charleston Town Center, a regional mall in West Virginia's capital. The venture, which is said to include Eightfold Real Estate Capital, bought the property from Bear Stearns ...
Las Vegas-Area Retail Center That Backed $62.2Mln Loan Sells for Sub-$1Mln
The Prizm Outlets retail property outside of Las Vegas has been sold. And it's resulted in the CMBS deal that had held a $62.2 million loan against it getting walloped. The property, the former Fashion Outlets of Las Vegas, was ...
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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.
