St. Louis Mills, University Club Tower Past Due on Mortgage Loans

Photo courtesy of St. Louis Business Journal

Overdue payments on local commercial real estate investments in St. Louis have increased, according to the latest data from New York research firm Trepp LLC.

As of Nov. 5, about $321 million in local commercial mortgage-backed securities (CMBS) loans on 16 properties were delinquent on payments by 90 days or more, according to data from Trepp.

According to Trepp, some of the properties that make up the bulk of the St. Louis area’s delinquencies include:

  •  St. Louis Mills mall in Hazelwood, which is owned by Simon Property Group Inc., a partner in the development of the $85 million St. Louis Premium Outlets mall in Chesterfield. St. Louis Mills was overdue by 90 days or more on an outstanding loan balance of $90 million, according to Trepp.
  • University Club Tower, the 23-story building at 1034 S. Brentwood, was overdue by 90 days or more on an outstanding loan balance of $28.7 million, according to Trepp. Doug Holtzman and his wife, Sabina, purchased the building from real estate investment firm the Lionstone Group of Houston in early October for about $12 million.

Read more on St. Louis Business Journal.


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