**Return to Lender: Week of October 9, 2025**
1. **Hamilton Development Acquires Flagler Station Office Property**
Hamilton Development has taken ownership of an office building in the Flagler Station business park near Doral, Florida, through a deed-in-lieu of foreclosure. According to the South Florida Business Journal, the building’s former owner, BOF FL Flagler Station LLC — an entity of Atlanta-based Bridge Investment Group — transferred the property to HDCAL Flagler Station LLC, affiliated with Nashville-based Hamilton Development. Hamilton plans to demolish the existing structure.
2. **Historic McAdory Building Sold in Birmingham**
The McAdory Building, located at 2014 Morris Avenue in Birmingham, Alabama, was sold out of receivership for $1.5 million. McAdory LLC purchased the historic office building on August 25. The seller, Founders 1024 CMBS LLC, had the property placed under receivership managed by Sandner Commercial Real Estate, operating as Colliers Alabama. The sale marks the first step in a larger portfolio disposition, reports the Birmingham Business Journal.
3. **Co-Living Property in Washington D.C. Faces Foreclosure**
A 67-bed co-living property at 1126 Ninth Street NW in Washington, D.C., is expected to head to foreclosure auction, according to the Washington Business Journal. The 15-unit building, located across from the Washington Convention Center in Mount Vernon Square, is owned by an affiliate of Outlier Realty Capital. A foreclosure notice was filed after the affiliate defaulted on a $14.3 million note issued by EagleBank in 2019, with $16.8 million now owed.
4. **Concord Technology Center Listed for Sale Amid Foreclosure Proceedings**
The Stapleton Group, acting as court-appointed receiver, has engaged Newmark to market the Concord Technology Center for sale. The property includes two buildings totaling 477,502 square feet at 1655 and 1755 Grant Street in Concord, California. Partners Group, the property’s owner, defaulted on a $400-million loan at its 2024 maturity, which was backed by Concord Tech and three additional California assets. Wells Fargo initiated judicial foreclosure proceedings in Contra Costa County Superior Court in February, as reported by the San Francisco Business Times.
5. **Shreveport Office Towers Experience Sharp Value Decline**
Regions Center and Bank Tower in Shreveport, Louisiana, have experienced a dramatic valuation drop to $19.7 million, down 61% from their $51 million appraisal in 2017. Backing a $33.3 million loan within the LCCM 2017-LC26 CMBS deal, the buildings moved to special servicing in July 2024, according to Morningstar Credit. Occupancy fell from 85% at issuance to 72% as of September 2024, following a downsizing by anchor tenant Regions Bank.
These developments underscore the ongoing distress and challenges in the commercial office market as owners navigate maturing loans, declining occupancy, and falling valuations.
