32% Discount/Improving Market
Situation:
Property Type: Retail
Property Size: 156,219 sq. ft.
Origination: Aug 2007
Maturity: 9/1/17
Current Loan Balance: $18,630,159
Occupancy: 70.17%
Debt Service Coverage Ratio: .85 as of 2012
Location: Duluth, GA
Problem:
Highly depressed, unanchored retail center in Duluth, Georgia.
RESULTS
A/B note, A note at current market value, a 32% discount to the original note balance.Type: A/B
Servicer: CW Capital