**Return to Lender: Week of July 10, 2025**
**Gateway at Wynwood Auction Draws Higher Outside Interest**
Special servicer A10 Capital has secured the winning credit bid of $89.6 million in a bankruptcy auction for the Gateway at Wynwood office building and an adjacent bank branch in Miami. However, the debtor is requesting additional time to pursue a sale to Beach Hill Capital Investors LLC, which has reportedly expressed strong interest in acquiring the property at a significantly higher price, according to the South Florida Business Journal.
**Oakland Marriott Sold at Steep Loss in Foreclosure Auction**
Oakland’s largest hotel has changed hands through a foreclosure auction. The Oakland Marriott City Center was acquired by an affiliate of the building’s lender, global real estate investment firm Invesco, for $70.2 million. This marks a dramatic 51% decrease from the $143 million price the property fetched in 2017. The winning bid also fell short of the $100 million loan the previous owner defaulted on earlier this year, reports the San Francisco Business Times.
**Gold River Office Property Sold Out of Foreclosure**
After a three-year hold, a San Francisco investment firm has exited a Class A office building in Gold River, California, through foreclosure. According to the Sacramento Business Journal, real estate investor Ethan Conrad completed the purchase of the 107,934-square-foot building at 12009 Foundation Place for $8.06 million. This represents a 41% discount from its 2022 acquisition price and marks the second property Conrad now owns in the Gold Pointe Corporate Center.
**Seattle Parking Lot in Receivership Sells Below Assessed Value**
A parking lot previously owned by Martin Selig Real Estate and placed in receivership has sold for $2.5 million. The 7,240-square-foot lot at 133 First Ave. N near Seattle Center was purchased by a limited liability company affiliated with Diamond Parking. The purchase price was 37% below its assessed value. This is the second of seven Seattle parking properties lost by Selig and sold by receiver Joseph Fanelli of J. Fanelli Properties, according to the Puget Sound Business Journal.
**Receivership Triggers Sale of Pittsburgh’s Grant Building**
CBRE is marketing Pittsburgh’s 37-story Grant Building, located at 310 Grant St., with a deadline for offers set at July 16 at 5 p.m., reports the Pittsburgh Business Times. The property is being sold following a receivership resulting from foreclosure proceedings initiated by Wilmington Trust. The foreclosure ties back to an outstanding $37.8 million debt on a 2017 mortgage.
**Foreclosure Looms for Midtown Manhattan’s 750 Lexington Avenue**
Morningstar Credit reports that the special servicer has obtained summary judgment against the sponsor of the 750 Lexington Avenue property in Manhattan, clearing the way for foreclosure. The property consists of roughly 382,000 square feet of office and retail space and is associated with a $122.9 million loan. The loan has been under special servicing since October 2023 and has not posted a debt service coverage ratio above breakeven in over three years. The most recent appraisal valued the asset at just $50 million—down sharply from its $300 million valuation at the time of origination.
