The purchase of the former Sports Illustrated building at 135 West 50th St. in Midtown Manhattan has been finalized for $8.5 million, according to a report by Trepp. The property, which offers a leasehold interest and spans 23 stories with over 925,000 square feet of office space, was sold through an online auction on the Ten-X platform in August. An unidentified investor placed the highest bid and acquired the property from its previous owner UBS Realty Investors for $332.85 million back in 2006.
Following a foreclosure earlier this year, Pinnacle Bank Texas recently sold Fort Worth’s tallest tower – Burnett Plaza – to Swiss Burnett LLC connected to developer Andy Hansen of Trafalgar Homes for an undisclosed amount.
According to reports from Albany Business Review , three prominent properties located downtown Troy previously owned by David Bryce are scheduled for mortgage foreclosure auctions on November 19th due to unpaid debt totaling $12.4 million owed through LLCs that Bryce owns.
Morningstar Credit reported that there may be progress made on resolving issues surrounding Club Quarters Portfolio loan ($2737million | BX2017-CQHP), which has been under special servicing since June2020.The servicer won at Boston’s foreclosure sale but is currently selling it instead of taking possession as REO; however foreclosures are still being pursued for Chicago Philadelphia San Francisco properties within this portfolio.
CPS Energy’s former headquarters located at145 Navarro St.in San Antonio is facing foreclosure after defaulting on loans held by TransPecos Banks and BV Capital totaling$14 .35million.They were later transferred and reassignedto Colorado-based hotel company5 Senses Hospitality Managementand affiliated entity Riverwalk Reposition Partners LLC who issueda default acceleration notice shortly thereafter.AccordingtotheSanAntonioBusinessJournal,thepropertywasoriginallytargetedforhotelconversionbyHouston-baseddeveloperBlueprintHospitalitybeforebeingtransferredto5SensesHospitalityManagement.
A $4.64-million foreclosure complaint has been filed by ASOP 201 LLC against H&H Coffee Group, Cachita Latina Radio Corp., Cachita Universal Studios, Entv USA CR Publishing, Entv USA, H&H Coffee Group Export Corp., and Alain Piedra Hernandez for an 81,756-square-foot warehouse in Miami that serves as a film and recording studio for Cachita Universal Studios. The property was acquired by H&H Coffee Group in 2021 for $9.6 million.
The Oaks Mall loan ($78.5 million |46 .2% of COMM2012-LTRT) failed to pay off at its October2024 maturity date despite having a two-year extension granted back in October2022.The borrower requested another extension due to imminent maturity but the net cash flow fell short of the underwritten amount by39 %in December2023despite occupying94%ofthe906349-square-footregionalmalllocatedinGainesvilleFLaccordingtoMorningstarCredit
An$18-millionCMBSloanbackedbyWendlandPlaza representing31 %ofUBSCM2018-C13was transferredtospecialservicingdue toimminentmonetarydefault.MorningstarCreditreportedthatthepropertyhasexperiencednumeroustenantbankruptciesovertheyearsincludingatrampolineparkandafor-profitcollege.ThemostrecentlyremainingtenantConn’sfiledforbankruptcyandannouncedclosureforallstores.
