Thank you for sharing!

Your article was successfully shared with the contacts you provided.

KANSAS CITY-The Ward Parkway Center lender, Massachusetts Mutual Life Insurance Co., which helped finance the 2003 sale, has filed a legal notice stating that Coventry II DDR Ward Parkway LLC has defaulted on its debt. Therefore the property is set to be sold on March 26, according to a report in the Kansas City Star.

Coventry II is a joint venture between Coventry Real Estate Partners of New York and Developers Diversified Realty. Conventry holds an 80% stake in the JV, while DDR retains 20%. The property was purchased for $48.5 million, and as of the end of December 2008, DDR documents showed $35 million was still owed on the mortgage.

The shopping center has 800,000 square feet of space and includes such retailers as Bath & Body Works, New York & Company, Dicks Sporting Goods, Target, PetsMart and an AMC Theater.

To read the full Kansas City Star report click here.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.