Great Lakes Crossing Outlets
A retail property in Auburn Hills, Michigan. Securitized in 2 CMBS deals in 2023.
$400.0MAppraised value (latest deal)
89.6%Occupancy
$31.6MUnderwritten NOI
7.9%Implied cap rate
- Address
- 4000 Baldwin Road, Auburn Hills, MI 48326
- Property type
- Retail · Outlet Center
- Year built
- 1998
- Size
- 1,128,332 SF
- Sponsor
- The Taubman Realty Group LLC
- Loan purpose
- Refinance
- Largest tenant
- Burlington Coat Factory
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-C4 | 2023-02-14 | $400.0M | 89.6% | $31.6M | 7.9% | $25.8M | 45.0% | 2.50x | 424B |
| BMO 2023-C5 | 2023-06-21 | $400.0M | 89.6% | $31.6M | 7.9% | $37.5M | 45.0% | 2.50x | 424B |
Historical NOI reported in BMO 2023-C5
| Period ending | NOI |
|---|---|
| 11/30/2022 | $31.7M |
| 12/31/2021 | $32.9M |
| 12/31/2020 | $27.9M |
More CMBS properties in Michigan →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.