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

Written by Dan Moynihan

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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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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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Data Digest

CMBS DELINQUENCY VOLUME

CMBS SPECIAL SERVICING VOLUME

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

CMBS 2.0 Spreads

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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