Marc McDevitt

The largest CMBS workout by outstanding balance in June was a $220 million mortgage secured by 693 Fifth Avenue in Manhattan (pictured).
Finance  ·  CMBS
National

CMBS Realized Losses Climb in June

By Marc McDevitt
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The Charlotte, N.C. retail sector had a 16 percent month-over-month increase in distress for commercial real estate loans in June.
Finance  ·  CMBS
National

CRE Loan Distress Up in 70% of Largest Metro Areas in June

By Marc McDevitt
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Unibail-Rodamco- Westfield handed its ownership of the Westfield San Francisco Centre (pictured) in June.
Finance  ·  Distress
San Francisco

San Francisco Leans Into AI and Conversions to Aid a Painful Recovery

By Andrew Coen
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A $310 MILLION LOAN SECURED BY THE 1.3 MILLION-SQUARE-FOOT RIVER NORTH POINT OFFICE PROPERTY IN CHICAGO (Former home to the Chicago Sun-Times) WAS TRANSFERRED TO SPECIAL SERVICING IN JUNE.
Finance  ·  CMBS
National

CMBS Delinquency at Highest Level Since 2021

By Marc McDevitt
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The Crystal Mall in Waterford, Conn saw its final bid fall 49 percent from its most recently reported valuation of $18 million.
Finance  ·  CMBS
National

CMBS Auctions Provide Distressed Asset Pricing Guidance in 2023 First Half

By Marc McDevitt
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A&R Kalimian Realty’s The Aire property on 200 West 67th Street in Manhattan's Upper West Side.
Finance  ·  CMBS
New York City

Loan on A&R Kalimian’s Upper West Side Tower Hits Special Servicing

By Andrew Coen
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The largest individual realized CMBS in May loss was tied to a loan backing the Courtyard by Marriott Memphis East Lenox. (pictured).
Finance  ·  CMBS
National

CMBS Realized Losses From Distressed Assets Drop in May

By Marc McDevitt
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The Kansas City, Missouri, office sector saw the biggest increased distress in May.
Finance  ·  CMBS
National

CRE Loan Distress Declines in Most Large Metro Areas

By Marc McDevitt
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One of the larger CMBS loans reported delinquent in May was a $783 million senior fixed-rate mortgage secured by 375 Park Avenue (pictured).
Finance  ·  CMBS
National

CMBS Delinquency Rate Jumps 7 Percent in May

By Marc McDevitt
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The Poughkeepsie Galleria mall opened in 1987 and is around 70 miles north of New York City in Dutchess County.
Finance  ·  CMBS
New York

Poughkeepsie Mall’s Valuation Sinks $169M Since 2011 Issuance

By Andrew Coen
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Finance  ·  CMBS
National

Office Lease Expirations Hamper CMBS Loans

By Marc McDevitt
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The largest distressed workout featuring a lodging property in April was the discounted payoff of the 241-room Marriott Saddle Brook in northern New Jersey.
Finance  ·  CMBS
National

CMBS Realized Losses Climb Higher in April

By Marc McDevitt
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Downtown Jacksonville, Florida.
Finance  ·  CMBS
National

CRE Distress Rose in Majority of 50 Largest MSAs in April

By Marc McDevitt
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An $84.5 million mortgage secured by The Wanamaker Building was one of the office loans to transfer to special servicing in April.
Finance  ·  CMBS
National

CMBS Delinquencies Climbed Once Again in April

By Marc McDevitt
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A $982 million mortgage secured by 34 Ashford Hospitality Trust hotels, which includes the Marriott Beverly Hills (pictured) transferred to special servicing due to maturity default ahead of the loan’s June maturity date.
Finance  ·  CMBS
National

CMBS Loan Maturity Defaults, Concerns on the Rise

By Marc McDevitt
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Among the largest mortgages paid off in March was a $560 million loan secured by 59 La Quinta Inn select-service hotels.
Finance  ·  CMBS
National

CMBS Realized Losses Dip in March as Loan Workouts Continue

By Marc McDevitt
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Cleveland had the second highest distressed rate for CMBS loans in March at 10.2 percent.
Finance  ·  CMBS
National

Largest MSAs Saw Uptick in CRE Distress Last Month

By Marc McDevitt
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One of March's newly delinquent office loans was a $350 million floating-rate mortgage secured by the Gas Company Tower in Los Angeles (pictured).
Finance  ·  CMBS
National

CMBS Delinquency Rate Increases in March

By Marc McDevitt
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