DebtX is pleased to announce the sale of a $31.5 million matured commercial real estate loan. The loan is secured by a super-regional retail mall in the suburbs of Chicago. The collateral property consists of 767k sf of gross leasable area including 480k sf of mall store space and 287k of anchor space. The mall space is currently 80% occupied. These borrower and management team have added a diverse group of entertainment and dining centric national and regional tenants over the last 18-24 months. Lease payments are made to a lockbox with the lender disbursing cash to make partial loan payments, then remitting funds to the borrower based on an approved budget. 2018 NOI was $1.42 million.
Final bids are due by 2 pm ET on July 11th.
For more information, please contact Kevin Twomey at 617-531-3425.
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