The final seven nursing homes to bear the Mission Point Health Care name have been sold to an investment group connected to the Villa nursing home chain, according to Michael Flanagan, the court-appointed receiver who had handled Mission Point’s business affairs since February. The sales price was $10 and the assumption of millions in liabilities. Michigan Live reported that Mission Point owed nearly $5 million in overdue rent by the time eight of the troubled Michigan nursing home chain’s facilities were taken over by a court-appointed receiver earlier this year. One of the homes was subsequently shut down.  

An Amherst, NY apartment community has been sold for $10.8 million shortly after Fannie Mae started foreclosure proceedings for the property, reported Buffalo Business First. Lockwood Villas Holdings LLC, led by local developer Anthony Cutaia, sold 2493-2497 Sweethome Rd. to 2493 Sweethome LLC, an affiliate of Williamsville, NY-based Adco properties. 

Waterfall Asset Management is moving to seize Rudy Gabsi’s stake in a Manhattan condo tower after the troubled developer allegedly failed to pay millions of dollars in court, reported Crain’s New York Business. Waterfall is suing the former head of Tel Aviv-based Leny Group to take control of 611 W. 56th St., a 35-story, 80-unit luxury high-rise near the edge of Hell’s Kitchen that opened in 2022, In 2016, a judge in Manhattan’s state Supreme Court slapped Gabsi with a $92.1-million judgment for defaulting on a 2016 loan tied to the project. The amount owed is now $93.4 million, including interest and fees. 

A group of retail buildings with street art murals in Miami’s Allapattah neighborhood could be seized in a $7.5-million foreclosure lawsuit, the South Florida Business Journal reported. Miami-based City National Bank of Florida filed a foreclosure complaint Nov. 14 against Artwood Projects LLC and Kailani Properties LLC, along with loan guarantors Amalfi Gayosso and Abelardo Monroy Medrano. The complaint covers the 11,387 square feet of retail owned by Artwood Projects at 3430, 3440 and 3454 N.W. Seventh Ave., plus the 10,126 square feet of retail owned by Kailani Properties at 733 N.W. 34th St. and 3414-3408 N.W. Seventh Ave. 

St. Louis Circuit Court Judge Joan Moriarty ordered that receiver M. Shapiro Management Co. LLC act as receiver for the Lofts at OPOP, 911 Locust St. in downtown St. Louis. The St. Louis Business Journal reported that Fannie Mae in October brought suit against Strategic Properties of North America, a multifamily real estate investor with offices in New Jersey and Chicago that owns Lofts at OPOP. The GSE said that Strategic in 2017 borrowed $6.2 million from Greystone Servicing Corp. Inc., which has since transferred the note to Fannie Mae. Some $5.92 million is still due on the note. 

The Navy League Building ($55.4 million | 10.5% of MSBAM 2016-C28) was transferred to the special servicer this month ahead of its pending December 2025 maturity, Morningstar Credit reported. The Arlington, VA office has reported a below-breakeven DSCR since 2021, driven by slumping revenue amid tenant rollover. Although occupancy improved to 75% in June 2025, from 57% at year-end 2023, the DSCR remained below breakeven. 

Morningstar Credit reported that 625 North Michigan Ave. ($50.6 million | 6.9% of CF 2019-CF1) has transferred to special servicing due to cash flow issues, with the 2024 net cash flow sitting 43% below issuance underwriting. Despite a granular rent roll, occupancy at the Chicago office has dropped since issuance, last reported at 64% in June 2025, from 92% when the loan was originated. The $61.0-million loan on the property’s retail portion, owned by a different entity, went back to the lender via a deed-in-lieu of foreclosure agreement in 2024.