by Kipp Gillian | Sep 26, 2024 | Distressed Assets
Lincoln Properties has unloaded the Echo Street West project, an office project that Lincoln was having a hard team paying for. The office development was valued at $154 million after delivery but was sold for much less than that. The Atlanta Business Journal reports...
by Kipp Gillian | Sep 19, 2024 | Distressed Assets
U.S. banks reported a 20% sequential increase in total high-volatility commercial real estate (HVCRE) loans in the second quarter of 2024 following a four-year low balance in Q1, according to S&P Global Market Intelligence. The aggregate HVCRE loan balance...
by Kipp Gillian | Sep 19, 2024 | Distressed Assets
FRI Investors is said to be paying a little less than $100 million, or $71.43 per square foot, for the 68% leased, 1.4-million-square-foot office building at 70 West Madison St. in Chicago, Trepp reported, citing Crain’s Chicago Business. The West Palm Beach,...
by Kipp Gillian | Sep 16, 2024 | Distressed Assets
Optimus Properties, LLC purchased 5214-5232 W. Sunset Blvd., a 19,904 square-foot retail strip center in Hollywood, situated on a 42,076-square-foot lot, via a court-ordered sale. The center is shadow-anchored by a box retail space that was formerly 99 Cents...
by Kipp Gillian | May 30, 2024 | Distressed Assets
The volume of maturing CMBS loans is “quite significant,” Trepp says in a new report. Given this volume as well as recent history, the firm expects to see an increase in loan modifications. About $131.3 billion in outstanding, non-defeased CMBS loans that are...
by Kipp Gillian | May 30, 2024 | Distressed Assets
The $87.5-million loan against the 182,738-square-foot office property at 292 Madison Ave. in Midtown Manhattan is being offered for sale through Newmark, Trepp reported. With an original balance of $92.5 million, the loan was provided by Deutsche Bank, allowing owner...
