Stephen Deckoff Of Black Diamond Capital Management Acquires CMBS Loan For Palisades Center Mall For $418.5M
1000 Palisades Center Drive
$418,500,000
Building Size
—
Asset Type
Note / Loan
Closing
Oct 28, 2025
About this deal
AI
The transaction involved a distressed note/loan for Palisades Center Mall, located at 1000 Palisades Center Drive in West Nyack. The sale price of the note/loan was $418,500,000.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $418,500,000
- Buyer: Stephen Deckoff - Black Diamond Capital Management
- Seller: Wilmington Trust
- Loss to CMBS Trust: $231.45M
- Impact on Class A Tranche: $72.05M
Stephen Deckoff, representing Black Diamond Capital Management, facilitated the acquisition of the distressed CMBS loan, which marked a significant loss for the CMBS trust. Wilmington Trust represented the seller in this substantial transaction.
On the Map
$418,500,000
Note / Loan
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Players
West Nyack Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93