CHICAGO-Jones Lang LaSalle is marketing five performing loans made up of 16 properties, including retail, self-storage and hotels. The loans are offered by an unnamed collateralized debt obligation asset manager.
The notes included are a senior mortgage participation interest, three senior mortgages and one mezzanine loan. The properties are four malls and one retail center in the Northeast and South ($50 million), eight self-storage facilities in Houston ($57.2 million), a strip center in Louisville ($30.4 million), live/work space in North Hollywood, CA ($17.6 million) and a hotel in Waikiki, HI ($34.9 million). The retail properties include the Galleria Mall in White Plains, NY (pictured).
Dustin Stolly, an SVP with JLL’s Real Estate Investment Banking team, says the company will call for indicative bids in mid-April. He says the portfolio will be available together or as pieces. “There’s an amazing amount of capital chasing properties, and a noticeable uptick in large note sales. We expect to see this activity continue.”
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