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Return to Lender: Week of Nov. 13, 2025
- A Southern California investor has returned an apartment building in Denver’s River North area to its lender in lieu of foreclosure, the Denver Business Journal reported. An entity associated with real estate investment and development firm Sares Regis Group surrendered the Waterford RiNo, at 2797 Wewatta Way, to Heitman Credit Acquisition. In 2021, Newport Beach-based Sares Regis purchased the 301-unit property for $123 million, taking out a $91-million loan from Chicago-based Heitman.
- First United Bank has taken ownership of a prominent office building in the Harwood District in Uptown Dallas, according to the Dallas Business Journal. The Oklahoma-based bank won the Nov. 4 foreclosure auction for the seven-story Harwood No. 1 with a bid of $27.2 million. The Oklahoma-based bank was a lender on Harwood No. 1, providing a $37-million-plus loan in 2020 to Harwood International Inc., which the developer defaulted on. The roughly 106,000-square-foot building at 2651 N. Harwood St. was the first office property built by Harwood International in the district that bears its name and is the second property the Dallas-based developer has lost to foreclosure this year.
- A historic downtown Baltimore tower that was being redeveloped by embattled developer Brandon Chasen has changed hands for $5.1 million. One Calvert Plaza at 201 E. Baltimore St. was sold out of receivership to Philadelphia’s Mira Developments, which is expanding to Baltimore for the first time, the Baltimore Business Journal reported. The sale is the latest in an ongoing dismantling of Chasen’s citywide portfolio that will see two other properties put up for foreclosure auction later this month on the steps of the Clarence M. Mitchell Jr. Courthouse downtown.
- The Marriott Tacoma Downtown, which opened five years ago, is headed for a trustee sale, reported the Puget Sound Business Journal. The auction, set for Jan. 16, 2026, addresses a $76.4-million debt owed to the project’s lenders, Tempe, AZ-based Delphi CRE Funding and its affiliate ACSS Real Estate Funding. The debt dates back to August 2021, when Yareton secured a loan from Delphi for an undisclosed amount. The trustee sale proceedings began in September 2024, when the $72.9-million balance was due in full.
- A downtown Washington, DC office building that has long housed the Court Services and Offender Supervision Agency headquarters is headed to the foreclosure block as the agency moves to vacate next year, leaving the property without its only tenant. The Washington Business Journal reported that the 188,672-square-foot building at 633 Indiana Ave. NW faces a Dec. 11 foreclosure sale at the D.C. offices of Alex Cooper Auctioneers. The property owner, an affiliate of Chevy Chase’s Zuckerman Gravely Management Inc., owes $31.5 million.
- Buffalo Business First reported that Fannie Mae has started foreclosure proceedings against an apartment property at 2493-2497 Sweet Home Rd. in Amherst, NY over an alleged $9.8-million unpaid debt. However, an attorney representing the property owner, Lockwood Villas Holdings, says the property will be sold within days, and the debt will be paid with the proceeds. Fannie Mae filed a foreclosure complaint in state Supreme Court in Erie County, saying that $9.8 million of the $11.4 million in construction and gap financing Lockwood Villas obtained in 2017 remains unpaid.
- ◦Sale/Acquisition
- ◦Financing
