Commercial Real Estate Direct Staff Report The appraised value of Seacourt Pavilion, a 248,727-square-foot retail property at 635 Bay Ave. in Toms River, N.J., has been slashed to $25.8 million. That’s less than the property’s $26.8 million of CMBS debt and compares to its $40 million appraised value at the time of the loan’s securitization […]

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