- TMG Partners bought the note on 149 New Montgomery ($21.0 million | 10.5% of COMM 2014-CR14) and took title to the property via a deed in lieu, reported Morningstar Credit. The 69,000-square-foot office in San Francisco’s financial district had outperformed underwritten expectations as recently as 2022 before a drop in occupancy cratered net cash flow. The loan secured by the property had been in special servicing since June 2023. An appraisal earlier this year valued the property at $18.7 million.
- Dallas-based Ashford Hospitality Trust Inc. has moved a step closer to buying a downtown San Antonio building in the midst of a transformation, the Dallas Business Journal reported. A federal judge overseeing the bankruptcy case surrounding 145 Navarro, a former office building set for a hotel conversion, approved a $32-million sale agreement reached between the current owner and Ashford As part of the all-cash offer, Ashford will take over the contract from Marriott International, which had planned to transform it into a luxury hotel under the Autograph Collection flag.
- The Denver Business Journal reported that a hotel near Denver International Airport has gone into foreclosure as its lender tries to work with the longtime owner. The owners of the chain hotel, the AmericInn by Wyndham Denver Airport, a three-story 87-room building at 7010 Tower Rd., is being foreclosed upon by an LLC tied to Berkeley, California-based Serene Investment Management. The hotel is tentatively scheduled to be auctioned on Dec. 18.
- The loan on Rochester Tech Park, a sprawling business and industrial center off Elmgrove Road in Gates, NY, became one of the country’s 10 largest newly delinquent CMBS loans in August, according to the Rochester Business Journal. Foreclosure proceedings have been underway since April, when the trustee, Wells Fargo Bank, filed the complaint on behalf of trust holders in state Supreme Court. A balance of $96.58 million remains on the mortgage.
- One California Plaza ($300.0 million | CSMC 2017-CALI & CSAIL 2017-CX10 | CMBX.11) has gone into receivership, according to Morningstar Credit. The Los Angeles office building has never approached its underwritten net cash flow and the loan backed by the building moved to special servicing in September 2024 ahead of its November 2024 maturity, Morningstar reported. The near-term strategy is for the receiver to stabilize the property, but the servicer notes that foreclosure may be likely.
- A court has granted a motion to install a receiver at the Tucson Mall ($178.6 million | BBUBS 2012-TFT), Morningstar Credit reported. The loan, collateralized primarily by the inline space at the mall, has been previously specially serviced twice after missing its original and then extended maturity dates. It most recently transferred in April 2024 ahead of a subsequently negotiated additional extension. The property was eventually listed…
Read More: Return to Lender: Week of Sept. 11, 2025
