Free Republic 2nd Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $25,957
32%  
Woo hoo!! And we're now over 32%!! Thank you all very much!! God bless.

Keyword: commercialmortgage

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  • $59M mortgage on 1515 Market St. sent to special servicing as woes mount for city's office market. [ Philadelphia ]

    02/15/2024 6:02:05 PM PST · by george76 · 21 replies
    Philadelphia Business Journal ^ | Feb 6, 2024 | Paul Schwedelson
    Almost $60 million in debt backed by 1515 Market St. was transferred to special servicing in December, adding the 20-story building to the growing list of distressed office properties surrounding City Hall. The building's owner, Florida-based Accesso Partners, has a $59.4 million balance on the loan it took out to acquire 1515 Market for $85 million in 2014. The loan, which was originated by JPMorgan Chase & Co. before being converted into a commercial mortgage-backed security (CMBS) and sold to investors, is set to mature in January 2025. Contacted by the Business Journal for comment, Accesso issued a statement saying...
  • U.S. commercial mortgage delinquencies jump 585%

    07/24/2009 8:46:57 PM PDT · by george76 · 57 replies · 2,117+ views
    Dayton Business Journal ^ | July 24, 2009 | Katherine Conrad
    Delinquencies on commercial mortgage backed securities soared $10 billion in June, hitting a 12-month high of almost $29 billion... California led the nation with the highest amount of delinquent loans, closely followed by Texas and Florida. Late loans across the country are up an “astounding” 585 percent from a year ago when just $4 billion were delinquent... California with almost $3 billion in delinquent loans, or 10 percent of the exposure, and Texas with $2.5 billion, or 9 percent of all delinquencies, "remain a major concern." In California, the delinquent properties are spread across the state, compared to Texas where...