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Return to Lender: Week of Sept. 4, 2025
- The loan on Decorative Center Houston ($43.0 million | COMM 2015-LC19) was resolved with an $11.9-million loss, reported Morningstar Credit. The sale price fell far short of the property’s appraised value of $43.3 million earlier this year. It was a quick resolution timeline, as the loan moved to special servicing this past January after missing its maturity.
- Hilco Real Estate Sales has put a North Jersey portfolio up for auction in a bankruptcy sale, with a bid deadline of Sept. 30. It includes Harrison Town Square Redevelopment Area, a fully entitled 9.34-acre parcel described as the last development site along the PATH corridor, and several diversified industrial assets in Harrison and Kearny, NJ.
- The Washington Business Journal reported that a prominent office building located two blocks from the White House is the latest in D.C. headed to the foreclosure auction block, where the lender says it intends to buy back the property. The 10-story, 305,259-square-foot office at 1325 G St. NW faces an Oct. 2 foreclosure sale at the Wisconsin Avenue NW offices of Harvey West Auctioneers, according to a foreclosure notice filed Tuesday by the noteholder, an affiliate of New York’s Farm View Ventures. The property owner, an affiliate of Palm Beach Gardens, FL-based Westbrook Partners, owes $112 million on the note, deed records show.
- After defaulting on $132.7 million in debt associated with 115 Myrtle Ave., an office building in Brooklyn, Brookfield Properties is facing foreclosure on the asset, according to published reports. Special servicer Rialto Capital Management made a pre-foreclosure filing recently in New York Supreme Court. The asset is part of Brooklyn Commons, a multi-building office campus that Brookfield came to own in 2018 as part of the acquisition of the campus’ previous owner, Forest City Realty Trust.
- ◦Sale/Acquisition
