Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 30 October 2018

Bangor Mall in Maine Gets Appraised at $17.3Mln; 13 Percent of 2007 Appraisal

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Commercial Real Estate Direct Staff Report

Maine's Bangor Mall was appraised in August at a value of $17.3 million - a 40 percent drop from the $28.9 million appraised value set last year and only 13 percent of its $128 million value pegged in 2007.

A total of 536,299 square feet of the 655,124-sf mall serves as collateral for an $80 million mortgage that was securitized through Morgan Stanley Capital I Inc., 2007-IQ16. It transferred to special servicer LNR Partners last year as its maturity approached. The loan now is classified as being in foreclosure.

The property is owned by a venture led by Simon Property Group and that includes the California Public Employees' Retirement System and the State of Michigan Treasury. Servicer notes compiled by Trepp LLC indicate that the Simon group isn't interested in keeping the property and modifying the CMBS loan. The property now is overseen by...





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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: Bangor
  • States: Maine
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Private: Yes
  • bloombergDealName: MSC 2007-IQ16
Read 332 times Last modified on Tuesday, 30 October 2018

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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