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Description
The Loan was originated in December 2014 and structured for a ten-year term. Payments are based on a 32-year amortization and a fixed rate of 4.547%. The Note was transferred to special servicing in October 2019 upon payment default and has subsequently remained past due. Foreclosure proceedings have been initiated and a receiver was installed in January 2020. This offering provides investors with a unique opportunity to acquire a non-performing note at an attractive basis with a potential path to title on a cash-flowing retail asset with leasing upside.
Informations Clés
Jones Lang Lasalle (“JLL”) has been retained by the Seller, a CMBS Special Servicer, on an exclusive basis to arrange the sale of a $9.3 million non-performing loan (the “Loan,” or “Note”) secured by the first mortgage on a strip shopping center located in Colorado (the “Property,” or “Collateral”).