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Return to Lender: Week of Oct. 22, 2026
- A prominent tower in the Arts District of Dallas has returned to its lender in a foreclosure auction after its ownership defaulted on a $78.4-million loan, according to the Dallas Business Journal. Dallas County records show investors of Morgan Stanley Capital I Trust 2016-UBS0, a CMBS loan secured by the office building, now control 2100 Ross Ave. following a foreclosure sale. The tower had been flagged for foreclosure after the loan was not paid off by the due date.
- The Memphis Business Journal reported that a $19-million apartment development across the street from the Simmons Bank Liberty Stadium officially has new owners. Central Lofts LLC, owned by local developers Amin Zaki and Khalid Alwan, bought the 127-unit complex at 300 S. Hollywood St. after the former owner, Central Junction LLC, defaulted on its loan with First Citizens National Bank, and the bank foreclosed on the site in December 2025.
- Illinois Center, a 2.1-million-square-foot office complex in downtown Chicago, is facing a foreclosure auction after its owner defaulted on the property’s $239.48-million mortgage, Trepp reported, citing Crain’s Chicago Business. The debt has been with special servicer LNR Partners since April 2024 and defaulted at its maturity in 2025. An auction is scheduled for Nov. 12; LNR is positioned to bid for the property on behalf of the CMBS debt’s bondholders, pending court approval.
- The Blackjack Portfolio ($517.7 million | BX 2021-21M) moved to special servicing after missing its October 2026 maturity date, according to Moningstar Credit. The loan was originally collateralized by 21 multifamily properties; releases have dropped the pool to six remaining properties and paid the loan down by 60%. Servicer commentary noted that a three-month forbearance has been agreed upon to allow for the sale of the remaining assets.
- The Gateways ($285.0 million | CSMC 2021-GATE) moved to special servicing ahead of its December 2026 maturity date. The loan is secured by three office buildings totaling 1.7 million square feet in Newark, NJ. It was previously modified in 2023, extending the loan through a final maturity date in December 2026 in exchange for $45.0 million of new equity being contributed to fund leasing costs for the NJ Transit lease that had staggered commencement dates starting in August 2025.
- 2400 Market ($205.4 million | COMM 2021-2400) moved to special servicing ahead of its December 2026 maturity date, reported Morningstar Credit. The borrower requested the transfer as the property, an office building on the western edge of Center City Philadelphia, is currently being marketed for sale. The property has outperformed underwritten net cash flow and remained nearly fully occupied.
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