Reposted from 1.28.21 Bloomberg article:

“The Prizm Outlets mall, about a 40-minute drive south of Las Vegas on the California border, lost 95% of its value in six months. It may not be the last mall to do so…”

“It’s the first auction of a property linked to the so-called CMBX 6, a commercial real estate credit derivatives index with heavy exposure to shopping centers and malls, according to data compiled by Bloomberg.”

A loan on the property with an original balance of $73 million was bundled into a commercial mortgage backed security called COMM 2012-CR4 in October 2012, one of 48 loans packaged into the multi-loan transaction known as a conduit, according to data compiled by Bloomberg. That year, the property was valued at $125 million.”

 

 

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