x
Breaking News
More () »

Niagara Falls outlet loan gets put on watchlist; property could be going up for sale

This month, the loan was put on a “watchlist” by loan servicers due to a loan maturity risk, according to financial filings.

NIAGARA FALLS, N.Y. — With less than six months until an $89.35 million balance is due, a Fashion Outlets of Niagara Falls loan could be going up for sale, according to this month’s commercial mortgage-backed securities (CMBS) filings to bond investors.

The loan, which was originated by lender GACC, is held in a portfolio of similar property mortgages that have been sold off in shares — or CMBS — to investors.

Macerich (NYSE: MAC), the property’s owner, has paid off roughly $33.15 million since securing the loan in October 2010. The loan is due Oct. 1.

Read the full story from our partners at Buffalo Business First.

Before You Leave, Check This Out