A downtown Baltimore office property located at 201 N. Charles St. was recently sold for $3.1 million through an online auction on TenX to an undisclosed buyer, according to the Baltimore Business Journal . State records show that RSS Comm2013-LC13-MDH2L LLC, the lender for the building’s loan, acquired it at a foreclosure auction in 2022 for $4.1 million.
The Mall De Las Aguilas shopping center in Eagle Pass, TX was originally backed by a loan of $21.7 million (MSC 2015-UBS8), but as reported by Morningstar Credit , it has been liquidated and resulted in losses of $12.2 million as of August 2024 remittance.
One Appleton is a mixed-use building located at 439-441 Tremont St., which used to be home to real estate firm The Davis Cos., and is now set to be auctioned off according to the Boston Business Journal . The mortgage on this South End building has been held since April by Triad Alpha Partners’ Peter Zagorianakos’ limited liability company.
An Atlanta Financial Center-backed loan worth $122.5 million is expected sell at a discount due its recent troubles within U.S.’s office property sector, reports from Atlanta Business Journal have shown that Cushman & Wakefield will market this discounted deal with nearly one-million-square-foot owned Sumitomo Corp.’s affiliate based out New York City
Madison Realty Capital filed against Empire Management’s Fifth Avenue Hotel Manhattan location after acquiring Santander Bank earlier this year; Trepp reported MRC made its filing back March when debt defaulted during maturity date resulting into foreclose against collateralized property worth over hundred thousand square feet converted into hotel back then purchased only fifteen millions dollars seven years ago
BrightSpire Capital bought Oakland California Tidewater Capital last summer San Francisco Times announced they are selling their ten-story 83,000-square-foot office tower at 1440 Broadway to its lender BrightSpire in July of this year after failing to pay off the loan. CBRE was originally hired for leasing but now is handling sale.
17 State Street’s $180 million (JPMBB 2014-C23 & JPMBB 2014-C24 | CMBX.8) has been moved into special servicing due to failure of payment during August maturity date according Morningstar Credit report; it had remained current throughout its term with full DSCR reported as recently as last year and occupancy rates in mid-90% range while net cash flow was above underwritten level by sixteen point seven percent
16 Court Street ($111 million | CCUBS 2017-C1 & WFCM 2017-C42 | CMBX.11) also moved into special servicing because lease expirations will result shortfalls debt service payments reports Morningstar Credit Brooklyn offices have high concentration City New York tenants largest one having expiration month shown on building website many availabilities available
A CMBS loan worth $85 million backed by Ave Americas (BBCMS-017C1-WFCM-RBI) went into special servicer due monetary default imminent says Morningstar Credit although still reporting hundred percent occupancy commentary from servicer stated biggest tenant D.E Shaw forty-three percent space would leave when lease ends this month addition trust debt there twenty-five secured subordinate mezzanine place
Bank America Plaza ($42.8 CGCMT-P8| CMBX11%) also entered Special Servicing ahead September maturity date according same source property located Detroit suburb Troy MI lost namesake Bank America vacated two years ago dropping occupancy ninety-one fifty-four third ‘Bank Plazas’ currently joining Los Angeles St Louis Center Richmond VA Tower Midland TX
