Return to Lender: Week of June 11, 2026

A U.S. Bankruptcy Court judge approved the auction date for the site of the partially completed Mandarin Oriental, Boca Raton hotel, reported the South Florida Business Journal. The bid deadline is June 18 and the auction will take place on June 22 at 10 a.m, Bankruptcy Judge Erik P. Kimball will hold a hearing to potentially approve the results of the auction on June 26 in West Palm Beach. The developers filed for Chapter 11 bankruptcy in December 2025. The main secured creditors are TIG Romspen US Master Mortgage, owed $130.2 million under the senior loan, and Tequesta-based Via Mizner Funding with an $80-million claim.

The Denver Business Journal reported that another tower in downtown Denver is headed for foreclosure after a judge denied a final effort by the owner to prevent the lender from taking possession of the skyscraper. Wilmington Trust will now be able to move ahead with foreclosure proceedings on 700 17th St. after U.S. Bankruptcy Court Judge Kimberley Tyson ruled that the plan by Toma West, the property management company behind the LLC that owns 700 17th, was insufficient.

RXR has put the $670-million loan backed by 230 Park Ave., the Helmsley Building, reported Morningstar Credit. The loan moved to special servicing in October 2023 ahead of its December 2023 maturity date. The asking price is right at the $670-million balance, although Morningstar noted that the servicer is reporting roughly $30 million of T&I advances plus interest, along with $11.5 million of reserves. Occupancy currently sits at 46%. The servicer also reported an April 2026 appraisal that valued the Midtown Manhattan office property at $785.0 million.

S2 Capital will pay out of pocket on 12 Freddie Mac floating-rate loans that have gone into special servicing, Morningstar Credit reported. According to Morningstar, S2 expects the loans to exit special servicing within 30 to 60 days. The loans range in size from $69.4 million on the 524-unit Hyde Park at Valley Ranch in Irving, TX to $19.6 million on The Taum, a 176-unit Charlotte, NC apartment property.