by admin | Jan 14, 2014
A/B Loan Bifurcation Property: Retail Center in Arizona Loan Balance: $47 million Problem: Large vacancies put this borrower’s loan at risk. The loan was originated in 2007, and the current value of the property was $18 million. There was some likelihood...
by admin | Jan 14, 2014
Short Sale Property: Office Building in Texas Loan Balance: $29 million Problem: This single-tenant building was 100 percent vacant and the current value of the property was significantly less than the loan. The best solution for the Trust was a...
by admin | Jan 14, 2014
Discounted Payoff Property: Office Buildings in Michigan and Illinois Loan Balance: $95 million Problem: The loan on this property was originated in 2006. The current value of the properties was approximately half the loan amount. It was unlikely...
by admin | Jan 13, 2014
Loan Modification Property: Class B Office Building – 78,246 SF Loan Balance: $14.2 million Problem: The loan was transferred to special servicing due to cash flow issues related to declining rents, increased vacancy and value erosion. Additionally, the...
