The owner of the Boulevard Mall in Amherst, N.Y., defaulted on the $ 92 million loan payment it was required to make last week, according to a report from the commercial mortgage data research firm Trepp LLC. Cleveland-based Forest City, as expected, did not make the payment that is far higher than the value the company has assigned to the region's oldest enclosed shopping center, Trepp said in a report that is based on industry data it tracks and analyzes. LNR Partners, the Miami-based special servicer that is handling the loan, now must decide its next step.
