Equity Secured Investments Inc., a commercial real estate lender based in Austin, recently acquired the rights to 151 E. Travis St. in downtown San Antonio through a foreclosure auction on June 4th, according to the San Antonio Business Journal. The riverfront site was previously owned by Harris Bay and had plans for a boutique hotel development, but defaulted on their $2.1 million loan.
In New York City, Empire Capital Holdings and Namdar Realty Group purchased an office property at 321 W. 44th St for less than $50 million – a significant discount from its previous sale price of nearly $153 million in 2018 under Related Fund Management’s ownership.
The foreclosure auction for Brooklyn Tower’s property at 9 DeKalb Ave has been postponed as Silverstein Properties is currently in settlement talks with developer JDS Development over their default on a $240-million loan.
Houston-based investment firm Jetall Capital is facing legal disputes over financial issues with one of their properties located near Houston’s Uptown/Galleria area – specifically the two-building complex at Post Oak Boulevard and Briar Hollow Lane that they own.
A gas station/car rental/tire repair center west of Boynton Beach is being targeted by City National Bank of Florida through a foreclosure lawsuit worth $5.55 million against West Boynton Auto Services and other related parties involved with the property located at7450 Boynton Beach Blvd.
Chelsea Pacific Holdings has defaulted on its loan against Chancery Building – an office property measuring approximately59,100 square feetinSan Francisco- which was originally financed by JPMorgan back in2009for$9 .2million.The company now owes$1 .5millionand could potentially faceaforeclosure sale after September2024ifthe default remains unresolved.
Westfield Main Place,a retail centerlocatedin Santa Ana,CAlast soldfor$140millionbackinJuneof2016. The property’sCMBS loan has recently been transferred to special servicing as the borrower had requested a 120-day maturity extension which was denied by the servicer. With its June2024maturity date approaching, it is expected that a resolution will be reached in September of that same year, potentially through an extension of the loan term.
