The largest CMBS liquidated loan loss in September was
sustained by the Eagle Ridge Mall, a 508,976-square foot regional mall in Lake
Wales, FL, (Tampa area), according to credit rating agency Morningstar. The
three largest tenants include Sears, Dillard’s and J. C. Penney. The former
General Growth Properties-owned center was taken REO via a deed-in-lieu of
foreclosure in September 2010, and accumulated nearly $10 million in additional
exposure related to servicing expenses since that time.
| Ten Largest Realized Losses - September 2013 | ||||||
| Property | City | State | Prop Type | Loan Balance | Realized Loss | CMBS |
| Eagle Ridge Mall | Lake Wales | FL | Retail | $44,499,386 | $44,499,386 | WBC05C22 |
| Prium Office Portfolio (13) | Various | WA | Office | $27,296,011 | $25,642,478 | MLT04BP1 |
| Nemours Building | Wilmington | DE | Office | $55,719,062 | $24,467,200 | GCC06GG7 |
| Ashford Perimeter | Atlanta | GA | Office | $31,504,544 | $18,003,829 | ACM0501 |
| Holiday Inn Dallas North | Richardson | TX | Hotel | $14,894,166 | $14,894,166 | CSM08C01 |
| St. Joe - Windward Plaza | Alpharetta | GA | Office | $47,586,456 | $11,619,792 | JPC07L12 |
| Tech Ridge Office Park | Tulsa | OK | Office | $30,450,446 | $11,588,110 | BSC07P17 |
| 500 & 700 Parker Square | Flower Mound | TX | Office | $11,107,583 | $11,107,583 | LBUB04C1 |
| Creekside Corporate Center | Bolingbrook | IL | Office | $11,852,851 | $9,415,353 | JPC06C15 |
| Acworth Crossing Shopping Center | Acworth | GA | Retail | $18,596,206 | $9,113,249 | MLCF0708 |
| Source: Morningstar | ||||||
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