JP Morgan Chase’s unit is selling Holyoke Mall’s $215 million mortgage, Business Journal reports. The mortgage is the largest debt in a $1.5 billion pool of commercial mortgage backed securities to be sold by the bank. The bank’s portfolio includes 45 commercial mortgages, secured by 109 properties.
The mall’s $215 million first mortgage equals to nearly 75% of the loan’s market value of nearly $290 million. The Massachusetts mall, which also secures a $35 million mezzanine loan, is let to companies including Macy’s, Sears and Target.
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