Monday, September 21, 2009

Glimcher Selling Lloyd Center to Merlone Geier - WBCMT 2003-C5

This is the largest loan in WBCMT 2003-C5, expected that the buyer will assume the loan, closing scheduled for December. CoStar reporting.

Just the sponsor switch, alone, is a net positive for the deal. Glimcher has trimmed assets through sales and by turning in the keys. This asset performs pretty well on its on though.

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