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Return to Lender: Week of May 14, 2026
- A King County Superior Court commissioner has approved a seller for The Bravern, the 750,000-square-foot Bellevue office complex that had been leased to Microsoft, according to the Puget Sound Business Journal. The owner went into default after Microsoft let its lease expire last year. Eastdil Secured will oversee the “contemplated sale” of The Bravern, bringing one of the Eastside’s largest office properties closer to returning to the market. In November, the remaining $304 million in mortgage debt on The Bravern was transferred to special servicer KeyBank after the building’s owner, QSuper, defaulted on the loan.
- The South Florida Business Journal reported that the Goodtime Hotel in Miami Beach is slated for court auction after its owner lost a $204.7-million foreclosure judgment. CMMT-JSELLER 2 LLC, an affiliate of CIM Real Estate Credit, was awarded the judgment against Washington Squared Owner LLC and Goodtime Sound LLC over a mortgage with $149.3 million in principal outstanding, plus interest and fees. The 205,680-square-foot hotel with 266 rooms at 601 Washington Ave. is slated for online auction July 1.
- The Washington Business Journal reported that an Anacostia office building that a D.C. healthcare provider recently acquired and planned to convert into a clinic and administrative space may be headed to the auction block. A foreclosure affidavit was recorded on Monday with D.C.’s Recorder of Deeds for the 120,000-square-foot office at 1800 Martin Luther King Jr. Ave. SE, also known as Anacostia Gateway. The affidavit was filed by noteholder SSR 1800 MLK LLC, an entity controlled by Lakshmi Lavanya Reddy.
- A downtown Columbus, OH office tower at 180 E. Broad St. has entered receivership as the landlord faces legal and financial disputes. Columbus Business First reported that the property has a 57% occupancy rate, according to a Colliers report from the end of 2025.
- A loan backed by a prominent Walnut Creek, ca office building is for sale, which could allow a new investor to scoop up the property at a discount, the San Francisco Business Times reported. The $26.6-million loan, originated by lender Principal Real Estate Investors, is secured by 500 Ygnacio Valley Rd., a four-story, 105,000-square-foot office building. JLL is marketing the loan for sale, with Managing Directors Chad Coluccio and Adam Lasoff, and Senior Managing Director Rob Hielscher on the project.
- A prominent Galleria-area office tower that has stood virtually vacant for over a year is facing foreclosure after its $80 million loan matured last year., reported the Houston Business Journal. Loan servicing notes from LNR Partners, the special servicer overseeing the CMBS loan, said the 19-story, 441,523-square-foot tower at 3000 Post Oak Blvd. remains vacant and available for lease or sale. However, the lender will be moving forward with foreclosure proceedings, the notes said.
- The Decoration & Design Building ($150.3 million | CGCMT 2015-GC33 & CGCMT 2015-P1 | CMBX.9) moved to special servicing as it hit its May 2026 maturity date. Morningstar Credit reported that the loan is backed by a 588,000-square-foot showroom property at East 58th Street and 3rd Avenue in Manhattan. Revenues have fallen sharply over time, with 2025’s figure of $36.7 million sitting well below the underwritten level of $48.4 million.
- Summit Place Wisconsin ($64.5 million | CD 2016-CD3 & JPMDB 2017-C5) transferred to special servicing this month after the borrower indicated it would no longer fund operating shortfalls, Morningstar Credit reported. The loan, backed by a suburban Milwaukee office property in West Allis, WI, is scheduled to mature in December 2026.
- ◦Sale/Acquisition
- ◦Financing
