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  • Hart Team

CASE STUDY: A/B Note - CMBS

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