National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Return to Lender: Week of April 9, 2026
- The Washington Business Journal reported that a scheduled foreclosure auction for the leasehold interest in the 666,202-square-foot 4000 Connecticut Ave. NW, an office building that was formerly home to Intelsat’s headquarters and the short-lived Whittle School & Studios, has been canceled. A foreclosure notice of cancellation was filed on Monday with D.C.’s Recorder of Deeds by an affiliate of Jericho, New York-based Winthrop Capital Partners, which holds the note on the leasehold interest. The leasehold interest was scheduled to be sold at an April 8 foreclosure auction at Alex Cooper Auctioneers D.C. office. Affiliates of New York-based investment firm 601W Cos. and commercial real estate developer Berkley Properties co-own the leasehold interest and owe $132.2 million on the note. The property’s 2026 assessed value is $75.7 million. The State Department owns the land under the building.
- Owner-developer Charles Cohen has reached an agreement with the lender on an office complex at 333 Westchester Avenue in White Plains, NY, resulting in the lender withdrawing a foreclosure case, according to published reports. Cohen Brothers Realty bought the property in 1998 for $25 million. In 2004, a borrower connected to the company took out $77 million in loans on the property. The foreclosure suit was filed in September 2025.
- Morningstar Credit reported that 3501 Corporate Parkway ($18.1 million | 3.9% of SGCMS 2016-C5 | CMBX.10) has moved to special servicing for imminent monetary default. The suburban office property in Center Valley, PA, is fully leased to Dun & Bradstreet through January 2027. The tenant put a portion of its space up for sublease in 2021, but the space was backfilled by payments processor Shift4, which now occupies 42% of the GLA. Performance has been stable given the in-place lease, but the status of Dun & Bradstreet’s renewal remains unknown.
- Holiday Inn Resort Daytona Beach Oceanfront ($15.8 million | 2.2% of COMM 2016-COR1 | CMBX.10) transferred to special servicing ahead of its March 2026 maturity date, according to Moriningstar Credit. The loan has been delinquent throughout its term, due to weak performance at the oceanfront hotel in Daytona Beach, FL.
- Merge Office ($15.5 million | 2.5% of WFCM 2019-C49 | CMBX.13) is reporting a new appraised value of $16.4 million, a 41% decline from its $27.7-million value at issuance and just above the outstanding loan balance, reported Morningstar Credit. The loan, backed by an office in Westminster, CA, transferred to special servicing in September 2025 for term default. The office has struggled to retain tenants, with occupancy last reported at 64% in June 2024.
- ◦Sale/Acquisition
- ◦Financing
