print header

# 1 Commercial Real Estate Information Company

  • Find Properties 
  • Market Properties 
  • Analyze Properties 
Products
Commercial Real Estate News

Watch List: Latest Specially Serviced Loans

December 5, 2012
Retail property loans made up the bulk of large CMBS loans transferred to special servicing in the past month.


Share this story with your followers


Included among them is a four-property portfolio affiliated with Rubloff Development Group Inc. of Rockford, IL. The properties generally in rural areas and two have high lease availability. The four properties are as follows.

Hutchinson Mall is 525,328-square-foot mall at Kansas Highway 61 and 17th Street. The anchor tenants include: Dillard's, Hobby Lobby, JCPenney and Orscheln Farm & Home Supply. CoStar shows 131,000 square feet available for lease.

Lakewood Mall is a 332,837-square-foot enclosed mall at 3315 6th Ave. SE in Aberdeen, SD. The anchor tenants include: Carmike, Herberger's, JCPenney, Sears.

Imperial Mall is a 398,000-square-foot enclosed mall at 12th Street and Marion Road in Hastings, NE. CoStar shows nearly 170,000 square feet available for lease.

Thunderbird Mall is a 253,539 square foot enclosed mall at the northwest corner of US Highway 53 and 12th Avenue. Thunderbird Mall is the largest shopping center from Virginia, MN, north to the Canadian border.


html

.

PropertyAddressProperty TypeCur. Bal.CMBS; Special ServicerComment

.

Royal Centre11575, 11475, and 11700 Great Oaks Way, Alpharetta, GAOffice$77,000,000MS 2007-IQ15; C-IIICurrent DSCR = 0.99, occupancy = 68.9.

.

Hutchinson Mall1500 E. 11th St., Hutchinson, KSRetail$56,793,342GS 2006-GG8; CWCapitalCurrent combined DSCR was 1.14x with a 69% occupancy rate as of 8/1/12. Major deferred maintenance reported on most recent inspection.

.

Lakewood Mall3315 Sixth Ave. SE, Aberdeen, SDRetailSame as aboveGS 2006-GG8; CWCapitalSame as above

.

Imperial MallSWC of 12th Street and Marian Road, Hastings, NERetailSame as aboveGS 2006-GG8; CWCapitalSame as above

.

Thunderbird MallNW Quadrant of 12th Ave West & US Highway 53, Virginia, MNRetailSame as aboveGS 2006-GG8; CWCapitalSame as above

.

Hilton Tapatio11111 N. 7th St., Phoenix, AZLodging$54,600,020BS 2006-TOP24; C-IIIPurchase agreement executed in November 2012.

.

Colonial Mall Myrtle Beach(14)10177 N. Kings Highway, Myrtle Beach, SCRetail$45,813,260Wach 2006-WHALE7; Wells FargoTransferred for imminent default; upcoming maturity this month.

.

Capital Plaza10301 and 10401 Deerwood Park Blvd., Jacksonville, FLOffice$39,350,591MS 2006-IQ11; LNR PartnersTransferred for imminent default.

.

Clybourn Galleria1840 N. Clybourn ., Chicago, ILRetail$38,286,981GS 2006-GG8; CWCapitalTransferred for imminent default.

.

Springdale Center3250 Airport Blvd., Mobile, ALRetail$36,907,000CS 2006-C4; Helios AMCTransferred for imminent default after the borrower stated it could no longer financially support two of the five cross-collateralized assets.

.

Chicopee Marketplace Shopping Center591 Memorial Drive, Chicopee, MARetail$17,415,000CS 2006-C4; Helios AMCTransferred for imminent default after the borrower stated it could no longer financially support two of the five cross-collateralized assets.

.

Governor's Pointe Office Campus4700 Duke Drive and 4900 Parkway Drive, Mason, OHOffice$14,275,500Wach 2007-C34; CWCapitalLoan transferred imminent monetary default.

.

Wilkes-Barre Towne Marketplace2150 Wilkes-Barre Township Marketplace, Wilkes-Barre, PARetail$10,613,000CS 2006-C4; Helios AMCTransferred for imminent default after the borrower stated it could no longer financially support two of the five cross-collateralized assets.

.

Ringling Square1626 Ringling Blvd., Sarasota, FLOffice$9,062,592CS 2006-C4; Helios AMCTransferred for imminent default after the borrower stated it could no longer financially support two of the five cross-collateralized assets.

.

Red Springs Shopping Center805 E. 4th Ave., Red Springs, NCRetail$2,134,303CSFB 2003-C3; C-IIIDSCR as of 6/30/12 was 0.89; occupancy was 75% as of 3/31/12.



Keep up weekly on national news, trends and property leads with the Watch List Newsletter, a weekly pdf that includes other news and leads not found on the CoStar Group web news pages. Sign up for the Watch List E-Mail Alert. A new issue is published late each Wednesday.


Advertisement:
1st Service Solutions: Your Partner for CMBS Restructure Success!

 Find us on 

Welcome To CoStar's
Industry-Focused,
Award-Winning News

Winner of three Journalism Awards from the National Association of Real Estate Editors (NAREE)

Award-Winning News