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The rate of loans sent to special servicers continued to fall in March. (Unsplash)
National

CMBS special servicing rate declines in March

The rate of loans sent to special servicers continued to fall in March, showing signs of recovery in several...

CMBS special servicing rate declines in March
The luxury Beekman Tower in Midtown East is now worth nearly half its $146 million valuation from 2018. (Beekman Tower)

Value of Beekman Tower cut by 45% in new appraisal

Eight months since its owner sought pandemic-related loan relief, the landmark Beekman Tower has exited special servicing after securing...

Value of Beekman Tower cut by 45% in new appraisal
Crystal Mall in Waterford, Connecticut  (Crystal Mall via Facebook, Getty)
Tri-State

Simon’s Connecticut mall valuation slashed by 88%

 The valuation for about two-thirds of Simon Property Group’s Crystal Mall in Waterford, Connecticut was slashed 87 percent to...

Simon’s Connecticut mall valuation slashed by 88%
Acore Partner Warren de Haan. (Acore, Getty)
National

Acore Capital raises $1B to provide rescue cash to hotels

 Acore Capital raised $1 billion to provide rescue capital to struggling hotels. The lender said it will originate and...

Acore Capital raises $1B to provide rescue cash to hotels
Simon Property Group CEO David Simon and Town Center at Cobb Mall (Getty, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
National

A Simon mall falls to foreclosure

Simon Property Group has lost control of a mall in suburban Atlanta, more bad news for one of the country’s largest retail landlords that has seen income plunge due to the pandemic. Deutsche Bank...

A Simon mall falls to foreclosure
229 West 43rd Street in New York and Two Westlake Park in Texas. New York and Texas are the states with the largest exposure to loans with appraisal reductions. (Photos via iStock; Google Maps; JLL)
National Insights

What appraisal reductions mean for future losses on CMBS loans

As delinquency rates for commercial mortgage-backed securities settle into a new normal after early pandemic chaos, other market metrics...

What appraisal reductions mean for future losses on CMBS loans

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