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Tuesday, 17 September 2019

$43.6Mln CMBS Loan Against Iowa Mall Moves to Special Servicer

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Commercial Real Estate Direct Staff Report

The $43.6 million CMBS loan against the 856,064-square-foot Valley West Mall in West Des Moines, Iowa, has been transferred to special servicing because it's expected to default.

The transfer was highlighted this morning in a TreppWire report.

The loan, securitized through Morgan Stanley Bank of America Merrill Lynch Trust, 2013-C7, pays a coupon of 4.05 percent and is set to mature in December 2022. But a report from Midland Loan Servicer, the CMBS trust's special servicer, noted that owner Watson Investments Inc. of Minneapolis "was not going to cover shortfalls due to the...


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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Des Moines
  • States: Iowa
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Valuation: Between $25 million and $50 million
  • Private: Yes
  • bloombergDealName: MSBAM 2013-C7
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Dan Moynihan

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