Commercial Real Estate Direct Staff Report
The McKinley Mall in Buffalo, N.Y., which serves as collateral for $35.3 million of CMBS debt that was securitized in 2014, could soon be owned by the two trusts that hold its mortgage.
The debt - a $25.4 million piece is in the collateral pool of COMM, 2014-CCRE14 and a $9.1 million piece is in COMM, 2014-LC15 - had transferred to special servicer Rialto Capital Advisors in March 2018 as it was expected to default. It is backed by 728,133 square feet at the 846,847-sf mall, which is owned by Stoltz Real Estate Partners of Bala Cynwyd, Pa.
Servicer notes compiled by Trepp LLC indicate that a receiver has been put in place and Rialto could very well take...

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