Shopping Center Business

SEP 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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CAPITAL MARKETS REVIEW 30 • SHOPPING CENTER BUSINESS • September 2018 Shopping Center Business is pleased to bring retail loan update information provided by Trepp. Trepp is the leading provider of CMBS and commercial mortgage information, analytics and technology to the global securities and investment management industries. Trepp has com- prehensive deal coverage of North American, European and Asian CMBS and Commercial Real Estate CDOs. *as of July 31, 2018; includes loans classified as 30, 60, 90+ delinquent, Non-performing and Foreclosure/REO Retail Loan Delinquency Rates Source: Trepp Percentage of Retail Loans 30+ Days Delinquent* Current 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 5.55% 5.78% 5.97% 6.30% 6.63% Top 10 Delinquent Retail Loans $489,242,206 Toys R Us 30 Days Various Floating VR $240,000,000 Westfield Centro Portfolio REO Various Fixed VR Property Name Balance Delinquency Status Location Loan Type $200,000,000 Independence Mall REO Independence Fixed MO $135,489,753 PDG Portfolio Roll-Up REO Various Fixed AZ $124,981,782 Lakeside Mall REO Sterling Heights Fixed MI $120,063,198 Mall of Acadiana Foreclosure Lafayette Fixed LA $109,571,209 Central Mall Foreclosure Various Fixed VR $94,000,000 Rushmore Mall (A + B note) Foreclosure Rapid City Fixed SD $92,000,000 University Mall REO South Burlington Fixed VT $91,575,936 Charleston Town Center Foreclosure Charleston Fixed WV *as of July 31, 2018 Source: Trepp Cross Market Rankings Retail Loan Performance for Largest 50 Retail Markets ranked by Percentage 60+ Days Delinquent MSA Size MSA % 60+ Days Delinquent 30 Kansas City, MO-KS 31.89 46 Hartford-West Hartford-East Hartford, CT 24.2 50 Buffalo-Cheektowaga-Niagara Falls, NY 16.51 29 Cleveland-Elyria, OH 14.84 14 Detroit-Warren-Dearborn, MI 10.59 18 Tampa-St. Petersburg-Clearwater, FL 8.49 41 Memphis, TN-MS-AR 8.47 12 Phoenix-Mesa-Scottsdale, AZ 8.41 3 Chicago-Naperville-Elgin, IL-IN-WI 8.05 49 Birmingham-Hoover, AL 8.01 Top 50 Retail Markets Average 4.01 *as of August 20, 2018 Source: Trepp

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