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

Friday, 19 July 2019

Oakdale Mall Near Binghamton, N.Y., Sees $12.4Mln Appraisal Reduction

Written by 
Rate this item
(0 votes)

Commercial Real Estate Direct Staff Report

The $49.5 million CMBS loan against the Oakdale Mall near Binghamton, N.Y., has been hit with a $12.4 million appraisal reduction amount.

That means the shopping center's appraised value is now below the loan's balance. The appraisal reduction, or ARA, would indicate that the property might be worth only $37.1 million. It was appraised at a value of $96.6 million in 2010. Its latest appraised value isn't available yet.

The CMBS loan, securitized through WF-RBS Commercial Mortgage Trust, 2011-C3, encumbers 708,695 square feet of the 851,498-sf mall, at 601-635 Harry L. Drive in Johnson City, N.Y. The mall two years ago lost anchor Macy's, which had occupied 135,488 sf under a ground lease, and Sears, which had occupied 142,803 sf of space owned by Seritage Growth Properties. And last year, it lost its...


“The Weekly”

“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:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Cities: Binghamton
  • States: New York
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Deal Name: WF-RBS Commercial Mortgage Trust, 2011-C3 WF-RBS Commercial Mortgage Trust, 2011-C3
  • Private: Yes
  • bloombergDealName: WFRBS 2011-C3
Read 224 times

Data Digest







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




cppichart FP



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





  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds