A South Florida mall can still collect rent and face foreclosure. That is the distinction investors should understand as commercial property loans reach maturity. Pembroke Lakes Mall in Pembroke Pines is facing a foreclosure lawsuit tied to a $260 million loan. Separately, a hotel portfolio loan of nearly $746 million has entered special servicing ahead of its December maturity. Both developments are real. They are not the same stage of distress, and neither establishes that every affected property is closing. …
MarketMiami
A South Florida Mall’s Appraisal Fell 74%. Now a $746 Million Hotel Loan Is in Trouble.
