This report today from Trepp give us a peek into one of the largest CMBS loans ever structured, a $2.6 billion loan that was funded across six big CMBS trusts. It lends truth to the old maxim that if you borrow large, the lenders are stuck with you. The loan was extended for five years [...]
This just came in from Trepp, a company that keeps track of CMBS (commercial real estate). Here is another Simon Properties deal that looks weak. There is still underlying rottenness in the CRE market, especially in retail.
Report: Tenant Issue Threatens to Sink Philadelphia Retail Loan
The sharp eyes of Lea Overby and Steven Romasko [...]