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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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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

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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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