Buffalo Business First reported that a 20.6-acre property in West Seneca, NY, has been sold for $3.7 million following the bankruptcy of national vehicle hauler Jack Cooper Transport Co. Broad Street Property Holdings LLC, an affiliate of Wayne County-based A-Verdi Storage Containers, purchased 75 Ransier Dr. from the trustee established in U.S. Bankruptcy Court to handle the assets of Jack Cooper Transport. A-Verdi rents and delivers storage containers, with locations across New York State.
The former offices for the Chasen Cos. in Baltimore’s Fells Point neighborhood will go on the auction block next month as bankruptcy proceedings for the firm’s founder continue. The Baltimore Business Journal reported that two former rowhouses converted into offices at 1511–1513 Eastern Ave. are slated to be sold in foreclosure on March 5. Alex Cooper Auctioneers is handling the sale. The auction is the latest in a whirlwind sell-off of properties formerly owned by entities tied to once-prolific Baltimore developer Brandon M. Chasen. Another former Chasen property at 600 S. Caroline St. in Harbor East is scheduled to be sold at auction on Feb. 27.
A new multifamily property owned by affiliates of D.C. developer American Housing is headed to a foreclosure auction, according to the Washington Business Journal. The 20-unit building at 429 13th St. NE is scheduled to be auctioned March 18 at Alex Cooper Auctioneers’ D.C. office. A syndicate of LLCs affiliated with American Housing CEO Adam Lobene owes $7.1 million to the noteholder, an affiliate of Arizona-based Redwood Investment Management.
The Hillsboro Beach Resort, along the ocean in the wealthy town of Hillsboro Beach, FL, could be seized in a $26-million foreclosure lawsuit, reported the South Florida Business Journal. Emerald Creek Capital 3 LLC filed a foreclosure complaint Feb. 6 against property co-owners BNH IV HM TRI LLC and 1159 Hillsboro Mile LLC, along with loan guarantors Daniel Lebensohn and Gregory Freedman. A spokesperson for the property’s ownership told the Business Journal, “This hotel is an oceanfront gem, but has endured a myriad of issues, including the increased interest rate environment and the recent bankruptcy of its former operator, Sonder. 1159 HM has been and remains in ongoing dialogue with its lending partner.”
Highbridge Equity Partners defaulted on another distressed downtown Oakland building and it is now in foreclosure, the San Francisco Business Times reported. JPMorgan Chase is seeking to foreclose on a commercial property at 1540–1544 Broadway in downtown Oakland and place it in receivership after Highbridge Equity Partners defaulted on a $2.7-million loan backed by the building. The multitenant commercial building sits next to 1500 Broadway, one of three Highbridge-owned office properties that went into foreclosure and landed in the hands of a receiver last September.
The Starwood Hotel Portfolio ($265.0 million | Multiple Conduits) moved to special servicing for what the servicer calls “imminent default,” according to Morningstar Credit. The loan is backed by 22 hotels in 12 states, the largest of which is the Renaissance St. Louis Airport Hotel. The portfolio was severely affected by the pandemic, and cash flow has never recovered to pre-pandemic levels. The loan matures in September 2028.
CBL Properties noted in its fourth-quarter 2025 filings that it would cooperate with the foreclosure or conveyance of Arbor Place Mall ($85.0 million | 64.2% of JPMCC 2012-C6 | CMBX.6). Morningstar Credit reported that Arbor Place is not yet in special servicing, although it has a near-term maturity in May 2026. The loan is secured by a 546,000-square-foot enclosed mall in Douglasville, GA.
Morningstar Credit reported that Plymouth Corporate Center ($45.6 million | 5.7% of BMARK 2019-B9 | CMBX.13) moved to special servicing after falling delinquent. The loan is backed by a 606,000-square-foot office building in the Minneapolis suburb of Plymouth, MN. Cash flow at the property had remained roughly on par with the underwritten level until going backward in 2024. Huntington Bancshares, which was in 67% of the space, then left the building in early 2025 prior to its lease expiration. Absent any material leasing, this would push occupancy below 30%.
Meridian at Brentwood ($35.6 million | 21.7% of COMM 2015-LC21) moved to special servicing this month due to maturity default, reported Morningstar Credit. The mixed-use office/retail property in Brentwood, MO, lost its main tenant, BJC Health System (52% of GLA), in December 2025; however, the servicer comments note that the borrower has a replacement tenant lined up. Still, nearly half the property’s GLA is being marketed for lease.
The West LA Office – 1950 Sawtelle Boulevard loan ($33 million | CGCMT 2016-P5, MSBAM 2016-C30 & JPMCC 2016-JP3 | CMBX.10) has transferred to special servicing after failing to pay off at its January 2026 maturity. Occupancy at the Los Angeles office has steadily declined since 2019, down to just 43% as of June 2025, according to Morningstar Credit.
CBL also indicated in its Q4 2025 filings that it intends to convey The Outlet Shoppes at Gettysburg ($19.3 million | 5.0% of JPMBB 2015-C32 | CMBX.9) back to the lender. The loan, backed by a 250,000-square-foot outdoor outlet center in Gettysburg, PA, moved to special servicing in October 2025 after failing to pay off at maturity.
