July 18, 2017 Comments Off on CMBS Disposition Volume Surges Views: 1577 Top National Stories

CMBS Disposition Volume Surges

CMBS disposition volume surged to $1.4 billion in June, according to Trepp, following a 12-month low in May. Deal activity revealed 57 loans paid off with losses, while the average loan size rose to a multi-year high of $24.8 million.

Heavy losses within the retail sector caused the average loss severity to rise by nearly 12 percentage points to 36.69%. However, loss severity is still relatively low compared to this year’s high of 57.8% in January.

Trepp’s list of the five largest losses applied to CMBS loans in June:

  • The Source: backed by Mall at the Source, Westbury, NY, $124 million loan written off with roughly $85.2 million in losses
  • Fiesta Mall: Mesa, AZ, $83.3 million loan written off in full
  • Fortunoff Portfolio: backed by two Fortunoff department stores, one in Westbury, NY, and another in Woodbridge, NJ, $69.5-million portfolio was disposed in full
  • FRI Portfolio: backed by two offices in West Palm Beach, FL and Nashville, TN, $60.1-million portfolio was disposed with a 100% loss
  • 2000 Corporate Ridge Road: 256,022-square-foot office in McLean, VA, $60.3-million note liquidated with $47.8 million in losses

Read more at Trepp


Subscribe to Connect Daily National

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags:

Comments are closed.