- A 25-story office tower at Westlake Center in downtown Seattle changed hands for $83.6 million earlier this month through a foreclosure sale, according to the Puget Sound Business Journal. The 365,674-square-foot structure at 1601 Fifth Ave., with a vacancy rate of 33%, was previously owned by Seattle-based Unico Properties, which acquired the property, called Westlake Tower, in 2019 for $236 million. Lender MetLife foreclosed on the property and issued a notice of trustee’s sale on Oct. 2, with Beacon Default Management Inc. overseeing the process. An entity linked to MetLife now owns the building.
- A lender this week took back a historic building in downtown Denver that was proposed to be transformed from offices into 116 units of housing and receive funding from a city development authority, the Denver Business Journal reported. California-based Thorofare Capital purchased the Symes Building, at 820 16th St., for $6 million in a foreclosure auction. Thorofare had lent the building’s previous owners, California’s Harbor Associates, $18.66 million in 2022. A judge ruled in January that Harbor Associates defaulted on the loan, allowing the Symes Building to hit the auction block.
- The Cincinnati Business Courier reported that a foreclosure case surrounding a downtown Cincinnati office tower is substantially resolved, paving the way for its possible sale as it continues through receivership. Hamilton County Court of Common Pleas Judge Robert Winkler issued a final judgment in the case against Philadelphia-based Rubenstein Partners, the owner of the building at 312 Elm St. Winkler granted the motion originally filed by Wilmington Trust National Association for summary judgment and default judgment. Wilmington subsequently substituted Rialto Capital Advisors, the special servicer on the loan, as the plaintiff. With interest, fees and other charges, the firm is now owed $49.9 million.
- The Washington Business Journal reported that a historic downtown D.C. office building owned by a Douglas Development Corp. affiliate may be headed to a foreclosure auction after its loan fell into special servicing last year. The 44,000-square-foot office at 1424 K St. NW, known as the Orme Building, faces a March 4 foreclosure sale at the D.C. offices of Alex Cooper Auctioneers. Douglas affiliate Jemal’s Orme LLC owes the noteholder, COMM 2015-CR22 K Street Northwest LLC, $8.6 million on a $13.3-million loan issued in 2015 by The Bank of New York Mellon. The loan hit special servicing after the affiliate didn’t pay it down by its February 2025 maturity.
- A half-razed former warehouse and seed store in Harbor East is headed to auction next month, the Baltimore Business Journal reported. The abandoned shell of the former Meyer Seed Co. at 600 S. Caroline is set to hit the auction block in foreclosure on Feb. 27 at the Clarence M. Mitchell Courthouse downtown. Alex Cooper Auctioneers is handling the sale. The property was owned by an entity of Chasen Cos., which purchased it in 2022 for $10 million and planned to develop a mixed-use building there with apartments and commercial space. However, the sale comes with a catch: the buyer will acquire only the 72,000-square-foot street-level portion of the property after a Chasen entity last year split the property into two separate “condominiums” for future development.
- The proposed sale of Harwood Center in downtown Dallas has been called off, as the CMBS trusts that own the property opted against it, Trepp reported, citing the Dallas Morning News. The two trusts that held what was a $78.83-million mortgage took the building through foreclosure nearly five years ago. They offered the property through online auction platform RI Marketplace last fall. Bids started at $10 million. Harwood Center, at 1999 Bryan St., was built in 1983 and last renovated in 1996. It’s about 47% leased and serves as the headquarters of engineering firm Jacobs.
- Forbearances have been finalized for both the Grove City Premium Outlets ($140.0 million | Multiple Conduits) and the Gulfport Premium Outlets ($50.0 million | MSC 2016-UBS7, MSBAM 2016-C29, & MSC 2015-UBS8), two Simon-owned outlet centers in Pennsylvania and Mississippi, respectively. The maturity for both has been extended by two years to December 2027, according to Morningstar Credit. Both properties moved to special servicing this past August.
- The $130-million securitization on 215 W. 34th St. & 218 W. 35th St. (CGCMT 2016-GC36, CFCRE 2016-C3, & CFCRE 2016-C4) has inked a modification, with the maturity date extended two years to January 2028, reported Morningstar Credit. The loan, backed by a Manhattan retail property and adjacent land beneath a 350-key Marriott, transferred to special servicing in October 2025 ahead of its January 2026 maturity.
The post Return to Lender: Week of Feb. 5, 2026 appeared first on Connect CRE.