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

Wednesday, 11 April 2018

Retail Center Near Philadelphia Mills Mall Placed on Sales Block

Written by 
Rate this item
(0 votes)

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...


“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: 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 591 times Last modified on Thursday, 12 April 2018

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