Return to Lender: Week of Oct. 9, 2025

Hamilton Development has completed the acquisition of an office building in the Flagler Station business park near Doral through a deed-in-lieu of foreclosure and plans to tear it down, according to the South Florida Business Journal. BOF FL Flagler Station LLC part of Atlanta-based Bridge Investment Group, issued a $20.47-million deed-in-lieu of foreclosure to HDCAL Flagler Station LLC, part of Nashville-based Hamilton Development.

The McAdory building at 2014 Morris Ave. in Birmingham, AL was sold out of receivership to McAdory LLC for $1.5 million on Aug. 25, reported the Birmingham Business Journal. The sale of the historic office building marked the first step in a portfolio disposition. The owner was Founders 1024 CMBS LLC, and the receiver was Sandner Commercial Real Estate inc., doing business as Colliers Alabama.

The Washington Business Journal reported that 1126 Ninth St. NW, a 67-bed co-living building located directly across the street from the Washington Convention Center in Mount Vernon Square, is likely headed to a foreclosure auction. A foreclosure notice was filed Wednesday for the 15-unit, 32,531-square-foot property, owned by an affiliate of Bethesda, MD-based Outlier Realty Capital. The Outlier affiliate owes $16.8 million on a $14.3-million note issued by EagleBank in 2019.

Court-appointed receiver Stapleton Group recently tapped Newmark to list the two-building, 477,502-square-foot Concord Technology Center at 1655 and 1755 Grant St. in Concord, CA for sale, reported the San Francisco Business Times. The owners of the property, Partners Group, defaulted on a $400-million loan backed by Concord Tech and three other California properties when the loan matured in 2024. The lender, Wells Fargo, pursued a judicial foreclosure in Contra Costa County Superior Court in February.

Regions Center and Bank Tower ($33.3 million | 7.3% of LCCM 2017-LC26) has reported a new value of $19.7 million, a 61% decline from its $51.0-million valuation in 2017, reported Morningstar Credit. The loan, which is backed by two office buildings in Shreveport, LA, moved to special servicing in July 2024. The largest tenant, Regions Bank, downsized at its August 2024 lease expiration, pushing occupancy to 72% as of September 2024, from 85% at issuance.