Return to Lender: Week of Oct. 15, 2026

The Minneapolis/St. Paul Business Journal reported that two office buildings within the Brookdale Corporate Center in Brooklyn Center. MN are scheduled to go to auction next month after the lender took control of the properties more than two years ago. The lender, an LLC sharing an address with New York-based alternative credit platform One William Street Capital Management, has tapped St. Paul-based Suntide Commercial Realty Inc. to sell the properties on Ten-X. The auction is scheduled to take place Nov. 16-18, with a starting bid of $1.25 million. The portfolio includes Brookdale Corporate Center I and II at 6200 and 6300 Shingle Creek Pkwy., totaling 232,500 square feet.

Denver District Court judge Heidi Kutcher appointed a receiver to take control of X Denver, located at 3100 Inca St. and 3000 Inca St., the Denver Business Journal reported. X Denver defaulted on a $17-million loan, according to court documents, leading the lender to ask for an outside party to take over operations at the apartment property in September. The lender is CMTG JP Finance LLC, which traces back to Mack Real Estate Group.

The servicer has formally filed a foreclosure suit on Pembroke Lakes Mall ($260.0 million | GSMS 2013-PEMB) and moved to put a receiver in place, Morningstar Credit reported, citing the South Florida Business Journal. The loan, backed by 749,000 square feet of a mall that totals 1.1 million square feet in Pembroke Pines, FL, has been in special servicing since missing its March 2025 maturity date. The collateral was appraised earlier this year at $112.0 million, a 74% drop from the at-issuance value of $427.0 million.

Project Prime ($745.7 million | THPT 2023-THL) has transferred to special servicing. The servicer stated “imminent monetary default,” but Morningstar Credit noted that the loan matures in December 2026. The loan was originally backed by 84 hotel properties totaling 7,993 keys across 21 states. Twelve properties have been released since issuance, resulting in a paydown of $48.3 million.

A loan behind a nearly century-old building in Denny Triangle was sent to a special servicer last month after its anchor tenant, The Seattle Times, moved out. According to the Puget Sound Business Journal, the building, located at 1000 Denny Way, is now 70% vacant, with the remaining space leased to three firms for data center use. The loan matures this coming February.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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