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Return to Lender: Week of July 23, 2026
- A New Jersey-based investment firm has lost another Atlanta multifamily complex to foreclosure, according to the Atlanta Business Chronicle. Liquid Capital Real Estate Investments is no longer the owner of Crest on Peachtree, a 534-unit apartment tower at 710 Peachtree St. in Midtown. This follows news from 2024 when the company lost The Optimist Lofts in Piedmont Heights to foreclosure less than two years after acquiring it. An affiliate of New York-based Arbor Realty Trust extended a loan of $90.8 million in August 2022 to Liquid Capital for its $107.5-million purchase of Crest on Peachtree. With the loan in default, a foreclosure process was initiated last month. An Arbor affiliate emerged as the winning bidder at a foreclosure auction earlier this month with an $85.9-million credit bid.
- Morningstar Credit reported that the Bravern Office Commons in Bellevue, WA ($304.0 million | BAMLL 2020-BOC & BANK 2020-BN26 | CMBX.14) is under contract with a closing expected later this year. The Puget Sound Business Journal reported price talk in the $262.5 million range, although most bids came in below that amount. The loan, backed by a 750,000-square-foot office complex, moved to special servicing in September 2025 after encountering cash flow issues following the departure of Microsoft, according to Morningstar. The buildings remain empty.
- Two office buildings at Metropoint business park in St. Louis Park, MN are scheduled to be sold at a foreclosure auction in September as CommunityAmerica Federal Credit Union seeks to recover roughly $46 million in loans tied to the properties, reported the Minneapolis/St. Paul Business Journal. The foreclosure action stems from two lawsuits filed by CommunityAmerica Federal Credit Union in Hennepin County District Court against the owners of the Metropoint 300 building located at 300 Highway 169 S. and Metropoint 400 building located at 400 Highway 169 S.
- CWCapital Asset Management has hired Colliers to market for sale the 410,000-square-foot Fourth & Blanchard office property at 2101 Fourth Ave. in Seattle, Trepp reported, citing the Puget Sound Business Journal .The building is expected to sell for $29 million. CWCapital is special servicer for what was a $233.13-million CMBS loan that encumbered the 51% occupied property, along with six others in Seattle that were owned by Martin Selig Real Estate. The trusts that held the loan took over the collateral portfolio last August through foreclosure. Another Martin Selig-owned portfolio of nine buildings totaling 1.64 million square feet backs a $379.1-million CMBS loan that’s also in trouble, according to Trepp. With current occupancy of 63%, the portfolio was recently re-appraised at a value of $341.2 million, down 37.3% from its $544.5-million appraised value in 2015.
- The developer of the partially completed Mandarin Oriental Residences, Boca Raton could lose the property in a $417.7-million foreclosure lawsuit, reported the South Florida Business Journal. Via Mizner Lender 1 LLC, as an agent for several lenders, including Athene Annuity and Life Co. and Athora Lux Invest NL-CRE Direct Lending Fund, filed a foreclosure lawsuit July 17 against Via Mizner Owner III LLC. The lawsuit also named numerous contractors who filed construction liens on the project, and numerous buyers who have condo units there under contract, including some who filed lawsuits.
- The San Francisco Business Times reported that lenders served CIM Group a default notice for a loan backed by one of Oakland’s most prominent office buildings, as a new report shows the building’s value dropped to a quarter of what it was 10 years ago. The Los Angeles based-investor said in SEC filings that it received a notice of default for the $97.1-million loan backed by 1 Kaiser Plaza, after it reached maturity on July 1. The company said it is working with its special servicer and lender on a long-term resolution or extension. A report from Morningstar Credit showed the building is now valued at $53.5 million, down from the $212 million valuation it reached at the time the loan was issued in 2016.
- A historic San Francisco office tower that lost its largest tenant last year is now in the hands of a receiver and is heading towards foreclosure, according to the San Francisco Business Times. A San Francisco Superior Court judge placed the Central Tower, a two-building property at 703 Market St. and 30 Third St., in the control of a receiver at the end of May. That followed the filing of a lawsuit by lenders alleging that owner CIM Group did not make on-time monthly payments for its $98-million loan secured by the property in September 2025 and failed to make on-time payments ever since. However, the lenders have not yet filed a notice of default. CIM has owned Central Tower since 2013.
- Lenders served the owner of a pair of prominent retail buildings in San Francisco’s Union Square with a notice of default, putting the buildings at risk of foreclosure. The San Francisco Business Times reported that New York-based Ashkenazy Acquisitions Corp. has allegedly fallen behind on its payments for a $40-million loan backed by One Grant, the landmark Savings Union Bank building; and 156 Geary, currently home to Chanel, according to records on file with the San Francisco Assessor-Recorder’s Office. The notices, filed July 14, allege a $30-million loan originated in 2013 and later transferred to and modified by Ashkenazy to $40 million in 2015 was not paid off at maturity.
- Westfield Belden Village ($84.8 million | 100.0% of MSC 2011-C3) is back in special servicing after missing its extended maturity date in July 2026, reported Mornibgstar Credit. The loan, backed by 419,400 square feet of an 827,000-square-foot regional mall in Canton, OH, originally matured in 2021 but was granted a five-year extension. Net cash flow has not approached underwritten levels since 2015.
- Morningstar Credit reported that the Meadows Mall CMBS loan ($100.4 million | JPMBB 2013-C14 & JPMBB 2014-C18 | CMBX.7) moved to special servicing ahead of its July 2026 maturity date. The loan is backed by 308,000 square feet of inline retail space in a 945,000-square-foot super-regional mall in Las Vegas. It was previously modified and extended at its original 2023 maturity date, buying it three extra years to stabilize. That has not come to fruition as the cash flows in 2024 and 2025 were the two lowest during the life of the loan. The borrower is apparently seeking another modification.
- The Brooklyn Multifamily Portfolio ($38.0 million | 3.4% of CGCMT 2020-GC46) moved to special servicing after falling delinquent several months ago. Morningstar Credit reported that the loan is backed by five apartment buildings totaling 78 units in Brooklyn. The cause of the delinquency is not clear as cash flow has historically been more than adequate to cover debt service.
- ◦Sale/Acquisition
- ◦Financing
