Return to Lender: Week of Sept. 17, 2026

Another collection of properties once owned by entities of Baltimore developer Brandon Chasen will go up for auction later this month. The Baltimore Business Journal reported that three single-family homes in Fallston are scheduled to be sold on Sept. 17 during a foreclosure auction on the steps of the Harford County Circuit Court building, according to Alex Cooper Auctioneers. Then on Sept. 30, a portfolio of seven multifamily and office properties with more than 100 units in Mt. Vernon and Midtown-Belvedere will be auctioned separately in foreclosure on the steps of the Clarence M. Mitchell Courthouse downtown. The auctions are the latest in a disposal of properties once owned by Chasen and his now-defunct Chasen Cos. before the developer encountered financial trouble about two years ago. Several properties have failed to attract any bids and gone back to the lenders.

The Boston Business Journal reported that a 203-key hotel and adjoining office and meeting space are scheduled for auction next month following its developer owner’s bankruptcy. The Wellsworth Hotel in Southbridge, MA, about a half-hour southwest of Worcester, is set to be auctioned Oct. 7 by Paul E. Saperstein Co. A sale of the hotel would be the latest outcome of a bankruptcy filing last year by Chip Norton, the owner and president of Franklin Realty Advisors. The Wellsworth Hotel appears to be the only property to be auctioned since the bankruptcy filing.

51 W. 52nd St. ($420.0 million | DBGS 2021-W52) has transferred to special servicing ahead of its October 2026 maturity date despite having one 12-month extension option still available. The loan is backed by an 893,000-square-foot office building at West 52nd Street and 6th Avenue in New York. Morningstar Credit reported that the transfer was done as a procedural step to effectuate a previously negotiated modification and extension of the loan, and it expects the loan to exit special servicing in the near term.

Apple Sunnyvale ($209.0 million | NCMS 2021-APPL) moved to special servicing after missing its August 2026 maturity date, Morningstar Credit reported. The loan is secured by a 350,000-square-foot office building in Sunnyvale, CA. The three buildings are all solely occupied by Apple, with the respective leases all expiring in July 2030.

Morningstar Credit reported that 8 Times Square & 1460 Broadway ($200.0 million | CD 2017-CD3, CD 2016-CD2 & CGCMT 2016-P6 | CMBX.10) transferred to special servicing ahead of its November 2026 maturity date. The loan is backed by a 214,000-square-foot building housing a Foot Locker retail location on floors 1 to 3, with WeWork occupying the rest of the building in a lease due to expire in 2034.

The Hyatt Regency Jersey City ($100.0 million | CGCMT 2016-P5 & CGCMT 2016-P6 | CMBX.10) moved to special servicing after the borrower stated it would be unable to pay off the loan at its October 2026 maturity date. Morningstar Credit reported that the loan, secured by a 351-key full-service hotel adjacent to the Exchange Place PATH station, has never performed as expected, with 2016 the only year where net cash flow met underwritten levels.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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