S&P Lowers Ratings on Deal Involving Former Starwood Malls: S&P Global Ratings lowered its ratings on three classes of commercial mortgage security certificates from GSMS 2018-SRP5. The deal is backed by a floating-rate interest-only mortgage loan, with an outstanding balance of more than $508 million, secured by the interests in five enclosed regional malls totaling 5.9 million square feet in California, Ohio and Washington formerly controlled by an affiliate of Starwood Capital Group. The downgrades of classes A, B and C reflect S&P’s reevaluation of the portfolio.
S&P Lowers Ratings on Deal Involving Former Starwood Malls, Apartment Sector Expected To Cool, Newest Single-Family Rental Player Details Offering
A Weekly Look at the Commercial Mortgage-Backed Securities Business
CoStar News
July 28, 2022 | 2:05 P.M.
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IN THIS ARTICLE
- Properties
- Plaza West Covina
112 Plaza Dr, West Covina, CA
- Franklin Park Mall
5001 Monroe St, Toledo, OH
- Capital Mall
625 Black Lake Blvd, Olympia, WA
- Great Northern Mall
4954 Great Northern Mall, North Olmsted, OH
- Companies
- Pagaya
Finance and Insurance
- Freddie Mac
Finance and Insurance
- Starwood Capital Group
Real Estate