In a one-loan pool, the last maturity decides the whole trust's loss.
A $73.99M loan on the Fashion Outlets of Niagara Falls has moved to special servicing again, this time under Midland Loan Services (Commercial Real Estate Direct, Oct. 15).
The loan is the last asset in the COMM 2010-C1 pool. The article says the trust has had no losses to date.
The stated trigger is maturity: the loan has matured and remains outstanding.
The deal name points to a 2010 vintage, so the loan is about 16 years old (derived).
Original balance, DSCR, occupancy, appraisal and the prior transfer date were not available in the retrievable text.
Implications: With one loan left, the trust's result equals this property's resolution. The open questions are the new appraisal, whether a modification or sale follows, and whether the trust's no-loss record survives. Outlet centers depend on shopper traffic and tenant sales, so ask for occupancy and sales per SF, which were not reported. Special servicing fees and advances also accrue against the last loan.
Key Takeaways
- When one loan is the whole trust, the property's resolution is the trust's final loss figure.
- The 2010 vintage means the loan is about 16 years old (derived from the deal name)
- One loan now is the whole trust
- The transfer is the second to special servicing, per the article
Commercial Real Estate Direct, $73.99Mln Loan on Niagara Falls Retail Property Goes to Special Servicer Again, Oct. 15, 2026
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