CHEEKTOWAGA, N.Y. — Pyramid Management Group’s $236.7 million Walden Galleria loan extension request may not get resolved before the loan's maturity date of May 1.
The Syracuse-based borrower has asked for a five-year extension on the loan, but as of early April's financial filings, the special servicer was still evaluating the request.
The Walden Galleria loan — which JPMorgan Chase & Co. originated in April 2012 with a balance of $270 million — is held in a portfolio of similar property mortgages that have been sold off into shares, or commercial mortgage-backed securities (CMBS), to investors.
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