Mall Mortgage Sale Shows Topsy-Turvy Time for CMBS

June 19, 2013

Source: Wall Street Journal

The recent sale of the mortgage on the Tri-County Mall for $31.6 million fell far short of the $135.2 million remaining balance on the CMBS loan, according to CMBS analysts including Roger Lehman at Credit Suisse and Keerthi Raghavan at Barclays. The mortgage was purchased by New York-based SDG Investment Fund, according to the broker, Mission Capital Advisors, which received five final offers for the property out of 20 initial bids.

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