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Monday, 12 August 2019

CMBS Special Servicer Seen Taking Over McKinley Mall in Buffalo, N.Y.

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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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“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: Buffalo
  • States: New York
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Valuation: Between $25 million and $50 million
  • Private: Yes
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Dan Moynihan

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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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