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Wednesday, 11 April 2018

Retail Center Near Philadelphia Mills Mall Placed on Sales Block

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Commercial Real Estate Direct Staff Report

LNR Partners has put on the sales block Liberty Plaza, a 372,130-square-foot retail center in Philadelphia's Parkwood neighborhood.

The property, which is 44.5 percent occupied, had served as collateral for a $43 million mortgage that was securitized through JPMorgan Chase Commercial Mortgage Securities Corp., 2007-LDP12. It transferred to special servicing nearly five years ago and its collateral was taken through a deed-in-lieu of foreclosure in July 2013. The property, on 33 acres at 1455 Franklin Mills Circle, next to the 1.5 million-sf Philadelphia Mills Mall, previously was owned by an affiliate of Simon Property Group.

Special servicing, originally handled by C-III Asset Management, is now being handled by LNR, as the CMBS deal's most subordinate classes have been wiped out. The trust has a remaining balance of $258.5 million, down from its original $2.5 billion.

According to CBRE, which has...





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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Philadelphia
  • States: Pennsylvania
  • Sector: Retail
  • Subject: Property Offerings (OFF)
  • Deal Name: JPMorgan Chase Commercial Mortgage Securities Corp., 2007-LDP12
  • Private: Yes
  • bloombergDealName: JPMCC 2007-LD12
Read 510 times Last modified on Thursday, 12 April 2018

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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