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.
Source: Wall Street Journal