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

Monday, 03 February 2020

$89.8Mln CMBS Loan Against Mall at Stonecrest Near Atlanta Faces Foreclosure

The expected modification of the $89.8 million CMBS loan against the Mall at Stonecrest in suburban Atlanta evidently has fallen apart as it is now the subject of a foreclosure suit.

Commercial Real Estate Direct Staff Report

The expected modification of the $89.8 million CMBS loan against the Mall at Stonecrest in suburban Atlanta evidently has fallen apart as it is now the subject of a foreclosure suit.

The mortgage, securitized through Banc of America Commercial Mortgage Inc., 2005-1, had matured in August 2018, but the collateral property's owner, a venture that includes Forest City Realty Trust and Urban Retail Properties, continued to make payments as if it hadn't, while they negotiated the terms of a modification. The loan in December was classified as nonperforming matured, according to servicer data compiled by Trepp LLC. It's now classified as being in foreclosure.

Notice of the foreclosure was published this morning in a Dekalb, Ga., newspaper.

Mall at Stonecrest is a 1.2 million-square-foot enclosed retail property that's anchored by Dillard's, which is in 199,124 sf, JCPenney, in 125,000 sf, and...





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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

 

 

 

REITCafe

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