Return to Lender: Week of March 5, 2026

The Portland Marriott Downtown Waterfront hotel at 1401 S.W. Naito Pkwy. was purchased by Portland Waterfront Hotel Acquisition LLC, an entity that appears to be tied to New York-based asset manager Sculptor, reported the Portland Business Journal. The hotel is managed by Marriott through a long-term management agreement with an entity tied to California-based DiNapoli Capital Partners, which acquired the hotel in 2013 for $82.7 million. Bank of America loaned DiNapoli $71 million in 2018 to refinance the firm’s prior loan. DiNapoli stopped making regular payments in February 2024 and owed $68.1 million in principal balance and nearly $800,000 in interest.

The 118,000-square-foot Leamington building at 1814 Franklin St. in Oakland sold for $14.4 million, or $122 per square foot, reported the San Francisco Business Times. The buyer, Leamington LLC, is helmed by Ed Hemmat, making his first acquisition in Oakland. The seller was CIT Bank, which seized ownership of the building in January 2025, after Stockbridge Real Estate fell behind on payments for a $35.5-million loan backed by the property.

A 16-unit mixed-use building in Seattle’s Wallingford neighborhood sold through a receiver on March 2, the Puget Sound Business Journal reported. The sale price was $4 million, shy of the building’s assessed value of $4.2 million. The six-year-old property at 2508 N. 50th St., called Coda Apartments, caters to students at the nearby University of Washington. The structure includes 2,380 square feet of parking and an 840-square-foot street-level retail space.

The Puget Sound Business Journal also reported that another piece of Martin Selig Real Estate’s once-sprawling Seattle portfolio has changed hands through a receiver’s deed. Augustine Capital Partners bought the 0.4-acre parcel at 220 Elliott Ave. W. The Denny Triangle property, near Climate Pledge Arena and Queen Anne Beerhall, is currently used as a surface parking lot with 91 stalls. The sale has been in motion for more than a year.

The Philadelphia Business Journal reported that PMC Property Group and Dean Adler are under agreement to purchase the 1.76-million-square-foot Centre Square office complex at 1500 Market St. and plan to undertake a major redevelopment of the property’s two towers adjacent to City Hall. PMC and Adler would pay less than $100 million for the distressed Center City property, which last sold for nearly $330 million in 2017. The partners plan a residential and hotel conversion of the East Tower and a partial residential conversion of the West Tower.

The Scribner Building at 597 Fifth Ave. in Manhattan ($105.0 million | 30.5% of COMM 2014-UBS4 | CMBX.8) is under contract to be sold, reported Morningstar Credit. Published reports say Aurora Capital Associates and AVRS Partners have teamed to acquire the property after it went back to the lender in a foreclosure sale. The property has been in special servicing since October 2020.

A Chasen Cos. property in Baltimore’s Harbor East neighborhood will return to the lender after a foreclosure auction on Friday failed to attract any bidders, reported the Baltimore Business Journal. The auction of a portion of the former Meyer Seed retail and warehouse complex at 600 S. Caroline St. drew three observers, including a representative of Oregon lender Standard Insurance Co. When no one moved on an opening bid of $3.5 million, the property went back to the lender. The auction included only the 72,000-square-foot street-level portion of the property, and excluded the potential for any future development above that shell.

The leasehold interest in a massive Northwest D.C. office building, formerly home to Intelsat’s headquarters and the short-lived Whittle School & Studios, is scheduled to be sold at foreclosure auction, reported the Washington Business Journal. The leasehold interest on 4000 Connecticut Ave. NW. is scheduled to be sold at an April 8 foreclosure auction at Alex Cooper Auctioneers D.C. office. The property’s 2026 assessed value is $75.7 million. Affiliates of 601W Cos. and Berkley Properties owe $132.2 million on the note held by an affiliate of Winthrop Capital Partners.

Morningstar Credit reported that 580 Walnut St. ($29.7 million | 4.0% of JPMDB 2017-C5) transferred to special servicing after losing its largest tenant. The loan, backed by 246,000 square feet of office in Cincinnati with some lower-level retail uses, had performed during its term until late 2025, when payments became inconsistent and eventually delinquent. This coincides with the run-up to Fifth Third Bank’s (76% of the GLA) lease expiration in December 2025 after sitting dark for a period. Absent any re-leasing, the property is likely approximately 12% occupied.