M Loan On West Covina Shopping Center 90-Plus Days Delinquent
West Covina Village A $36M loan secured by a West Covina mixed-use property is more than 90 days delinquent, according to Trepp. West Covina Villag...
West Covina Village A $36M loan secured by a West Covina mixed-use property is more than 90 days delinquent, according to Trepp. West Covina Village is a 220K SF office and retail property at the intersection of North Azusa and East Rowland avenues. 'The loan financials did not indicate a severe level of stress,' Trepp said, adding that occupancy has regularly been in the low 90% range and information from the servicer indicated that the borrower is working to collect back rent from tenants. The loan first became delinquent in March 2022.