Return to Lender: Week of March 12, 2026

The St. Louis Business Journal reported that downtown St. Louis’ Hotel Indigo has found a new owner after a previous auction sale fell through. The 88-key hotel, located at 501 Olive St., has been in receivership since 2023. Its receiver, Maryland Heights, MO-based Midas Hospitality, has continued to operate the property. La Salle Gateway Partners LLC signed a purchase and sale agreement with Midas Hospitality on Feb. 6 to buy the hotel for $2.8 million. According to city records, the property has an appraised value of over $6.1 million.

BH Properties purchased the Shops at Mauna Lani on Hawaii Island for $26 million after the property went into foreclosure following the arrest of its previous owner., Pacific Business News reported. The former owner, Jonathan Larmore, was sentenced to five years in federal prison for manipulating the stock price of WeWork in 2023 just before his real estate investment firm filed for bankruptcy. The resort shopping plaza, located at the entrance of Mauna Lani Resort, has since undergone improvements under a receivership, and both its ground lease and fee simple ownership recently sold in separate transactions for a combined $26 million.

The $536-million CMBS loan on Aon Center (JPMCC 2018-AON & multiple conduits | CMBX.12) has returned to special servicing, reported Moringstar Credit. Servicer commentary notes that the borrower did not make a required TI/LC payment as required by the amended loan terms and also expressed the unlikeliness of repaying the loan at the July 2026 maturity date. The 2.8-million-square-foot Chicago office tower’s reported 2024 NCF was down 12% from the prior year and was nearly 30% below underwritten levels. Occupancy fell to 66% as of September 2025, down from 88% at issuance. The loan did a previous stint in special servicing in February 2023 ahead of its original maturity date, and was appraised at $414.0 million at that time.

The Oaks Mall ($73.7 million | 49.2% of COMM 2012-LTRT) was taken by the trust at a foreclosure sale on Jan. 29, reported Morningstar Credit. The loan, secured by a mall in Gainesville, FL, entered special servicing for a second time in October 2024 after missing its previously negotiated extended maturity date. Occupancy remains healthy at 93% as of year-end 2025, although cash flow fell to breakeven during that same year.

The DUMBO Heights Portfolio ($163.9million | CGCMT 2018-C6, BMARK 2018-B8 & BMARK 2018-B7) has returned to special servicing in advance of its previously negotiated extended maturity date, Morningstar Credit reported. The loan, backed by three office properties in Brooklyn (a fourth property was previously released), was modified after missing its original maturity in September 2023, extending the loan to September 2025 with two one-year extensions. The remaining properties were most recently appraised at $226.3 million in November 2023. The portfolio was last reported as 72% occupied as of year-end 2025.