Independence Center earned a dubious honor – being the highest retail write-off ever tracked by Trepp.
Trepp, which specializes in researching commercial mortgage-backed securities, released the details in its March report. Trepp has studied CMBS retail loans since 2010, and the indoor shopping mall’s $149.7 million write-off is the largest the company has tracked. It accounted for 66 percent of the CMBS market’s losses in March.
Simon Property Group Inc. previously owned the property and…
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