Ben Ashkenazy has extended the loan on Beverly Connection mall by two years to July 2026 after the debt tied to the Los Angeles power center was stuck in special servicing for years due to delinquency, according to Morningstar Credit. The shopping center was reappraised in December for $193 million, 26 percent below its appraised value at issuance about a decade earlier, according to Morningstar. In addition, the strip mall is worth less than the $260 million New York City-based Ashkenazy Acquisition purchased it for in 2014 from Vornado Realty Trust. “The property has been recently appraised by a national […]
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