Owner of Everett Mall Defaults on $98M Mortgage

EVERETT, WA-The Everett Mall owner has defaulted on a $98-million mortgage on the shopping center in Snohomish County.

By GlobeSt News Hub | March 15, 2012 at 01:01 AM

EVERETT, WA-The Everett Mall owner has defaulted on a $98-million mortgage on the shopping center in Snohomish County. Instead of foreclosing, the loan's servicer is expecting to make arrangements for a loan modification with the owner Irvine, California-based Steadfast Companies.

Steadfast refinanced its debt on the 677,000-square-foot center in 2007 by obtaining a $98-million loan from Royal Bank of Canada. The servicer reported that the owner stopped making payments in November. Steadfast is in negotiations with servicer regarding the restructuring of loan. For the full story, go to Seattle Times .

GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

NOT FOR REPRINT

1 Maturing Loans Push Washington Prime Group to Accelerate Mall Sell-Off

2 The Million Dollar Starter Home Spreads Beyond California

3 Job Growth No Longer Guarantees Apartment Demand in Most U.S. Cities

4 Multifamily Pipeline Logs Unexpected Bump

5 Housing Boom in San Mateo Sparks Debate Over Renter Protections

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Mental Health, Wellness Programs Are Key Business Strategy

By Emily Payne | April 29, 2019

Companies are waking up to the impact of mental health on business goals and putting strategies in place to improve.

Mental Health, Wellness Programs Are Key Business Strategy

Landlord Entitled to Limited Additional Rent

By Igor Pleskov and Ian M. Livaich | April 29, 2019

On April 9, the Pennsylvania Superior Court held that a commercial landlord was entitled to recover certain portions of unpaid additional rent under a lease agreement but limited the landlord's recovery based on the statute of limitations.

Landlord Entitled to Limited Additional Rent

How Goodwin Became a Household Name in Startup Community

By Xiumei Dong | April 29, 2019

“We are looking to grow our footprint at this point,” said partner Lynda Galligan, who has led the firm's California growth. “We have everything covered, it's just a matter of growth.”