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Return to Lender: Week of August 20, 2026
- Willow Grove Park Mall is set to be sold to a partnership of three New York firms, the Philadelphia Business Journal reported. Namdar Realty Group, Mason Asset Management and CH Capital Group are under contract to acquire the Montgomery County retail property. A representative for mall owner PREIT told the Business Journal that “a lender-directed sale process is underway and expected to be completed in the near term.” PREIT’s lender, PGIM Inc., listed the property’s debt for sale earlier this year after the Philadelphia company’s $170-million loan on Willow Grove Park Mall matured.
- Kingswood Center ($65.5 million | COMM 2018-COR3 | CMBX.12) liquidated this month via a discounted payoff, according to Morningstar Credit The resolution resulted in a $46.6-million loss on the loan. When factoring in non-recoverable advances, $53.7 million of losses hit the bonds, wiping out classes H-RR and G-RR and writing down F-RR by about 25%. The loan was backed by a 129,000-square-foot mixed-use building in Brooklyn. It was in special servicing since May 2023 after occupancy fell to 35%.
- Baltimore-based Atapco Properties has purchased Charlestowne North Apartments in Greenbelt, MD, a 178-unit affordable housing complex that has long faced serious financial and maintenance issues tied to its previous owner’s loan distress. The company bought the nine-story building for $22.6 million from Freddie Mac late last month, reported the Baltimore Business Journal. The price works out to roughly $126,000 a unit.
- The Pittsburgh Business Times reported that three office buildings totaling351,000 square feet at Parkway Center are scheduled to be auctioned off starting on August 24, according to a listing on TenX. The buildings are being sold at auction as part of a larger strategy by an investment sales team at JLL based in Pittsburgh and led by Mark Popovich. The broader plan entails selling off a larger portfolio of six buildings totaling 590,000 square feet that were previously owned by PWC Pitt LLC, an affiliate of Market Street Real Estate Partners, which bought a majority of the offices at Parkway Center in 2018 before lenders forced the complex into default.
- Hilco Real Estate, LLC, in cooperation with First Financial Network, Inc, announced Sept. 10, 2026, as the qualified bid deadline for the leasehold interest in Corporate 500, an institutional-quality, four-building office campus totaling 696,770 square feet in Deerfield, IL. The campus in Chicago’s North Shore offers investors and users the opportunity to control the existing building improvements and pursue operating upside within one of the region’s most established suburban office markets, Hilco Real Estate said. Lender GreenState foreclosed on the property this past winter, according to published reports.
- A Pleasanton, CA office campus that tumbled into loan default and landed in the hands of a receiver is now being marketed for sale, according to the San Francisco Business Times. Court-appointed receiver David Kieffer of the Stapleton Group tapped JLL to market Rosewood Commons, an 837,000-square-foot office campus. The property was one of four backed by a $400-million loan that an entity affiliated with Swift Real Estate Partners defaulted on at maturity in 2024. Lender Wells Fargo pursued four separate judicial foreclosures for each property in the portfolio.
- Project James ($377.6 million | BSREP 2021-DC) transferred to special servicing after missing its final maturity date in August 2026, reported Morningstar Credit. The loan is backed by a portfolio of office properties in Washington, DC, and Northern Virginia. Two property releases during the loan term reduced the portfolio to six properties and paid the loan down by $65.5 million.
- The Hyatt Regency New Orleans CMBS loan ($325.0 million | NOHT 2019-HNLA) moved to special servicing after missing its April 2026 maturity date, Morningstar Credit reported. The delay stems from a four-month forbearance request by the borrower to finalize takeout financing. The loan was previously modified, extending the maturity to that April 2026 date.
- Morningstar Credit reported that the CMBS loan on Harlem USA ($108.0 million | MSC 2016-BNK2 & MSBAM 2016-C31 | CMBX.10) moved to special servicing ahead of its October 2026 maturity date. The loan is secured by a 246,000-square-foot retail property on 125th Street in Harlem. Performance at the property has been in decline since before the pandemic, although 2025’s net cash flow was the highest since 2019.
- The SIXTY Hotel Beverly Hills CMBS loan ($37.0 million | 6.5% of CSAIL 2018-CX12) transferred to special servicing after missing its August 2026 maturity date, Morningstar Credit reported. The loan is backed by a 118-key hotel on Wilshire Boulevard in Beverly Hills. The loan originally matured in August 2022; it was modified and extended and has been the subject of several additional extensions and forbearances since then.
- Silver Spring Plaza ($35.0 million | 6.5% of WFCM 2018-C46) transferred to special servicing after missing its July 2026 maturity date. The loan is secured by a 243,000-square-foot office property in Silver Spring, MD. The transfer marks the second stint in special servicing, as the loan needed an extension at its initial maturity date in 2023. Performance has gone backwards since that initial modification, according to Morningstar Credit.
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