Retail

$23 Million Non-Performing Loan Sale

Montgomery Montgomery, AL United States 36104
Asking Price Contact for pricing
Sq. Footage N/A
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1977

Property Description

The Property features an anchor lineup including Dillard’s (177,427 SF, non-owned), At Home (104,980 SF, owned), JCPenney (98,542 SF, non-owned), Belk - Women’s (69,000 SF, owned) and Belk – Men & Children (59,000 SF, owned). The Property serves as collateral for a CMBS Loan originated in 2004 with a December 2018 maturity. The Loan was transferred to the special servicer in October 2018 due to imminent maturity default and the borrower consented to the appointment of a receiver in February 2019.

Investment Highlights

JLL, as exclusive advisor to the Loan’s special servicer (the “Seller”), is pleased to present the opportunity to acquire a $23 million non-performing first-mortgage loan (the “Loan”) collateralized by a well-located 768,332 square foot regional mall located in Montgomery, Alabama (the “Property” or “Mall”).

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