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Wednesday, 24 April 2019

Value of Killeen Mall in Texas Once Again Takes A Hit

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Commercial Real Estate Direct Staff Report

The appraised value of the Killeen Mall near Fort Hood, Texas, once again has been reduced, this time to $51.2 million, according to a TreppWire report issued this morning.

When the retail property's $82 million loan was written in 2007, it had an appraised value of $102.5 million. But that value fell sharply in late 2017, to $60.9 million.

As a result of the recent appraisal, the loan, which is securitized through Credit Suisse Commercial Mortgage Trust, 2008-C1, had been hit with a $34.3 million appraisal reduction amount.

A total of 386,759 square feet of the 558,000-sf enclosed mall serves as collateral for the loan. But Sears, one of the property's anchor tenants whose 82,305-sf store...

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Additional Info

  • Syndicate to Realpoint: No
  • States: Texas
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Deal Name: Credit Suisse Mortgage Securities Corp., 2008-C1
  • Private: Yes
  • bloombergDealName: CSMC 2008-C1
Read 250 times Last modified on Thursday, 25 April 2019
Dan Moynihan

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