Login

Borrower Move on Intu Derby Transitional Services Agreement and Debenhams Lease Sparks Loan Defaults

Special servicer Situs has flagged that the post administration asset management agreement and a side deed agreement with Debenhams have not been approved
CoStar News
July 27, 2020 | 1:43 P.M.

Situs, acting as special servicer on Deco Ram-2019 Dac, Deutsche Bank's £142.5m securitisation of a loan backed by the intu Derby shopping centre, has issued a "Reservation of Rights Letter" flagging loan defaults created by an unapproved transitional services agreement for the continued management of the mall and a "side deed" lease agreement with Debenhams.

This news story is available exclusively to CoStar subscribers.

Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.

This news story is available exclusively to CoStar subscribers.

Ready to Learn More?

Sign Up For a Personalized Demo.

Sign Up For a Demo To Learn More.

Already A Subscriber? Sign In

IN THIS ARTICLE


  • Properties