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**Return to Lender: Week of February 5, 2026**
A round-up of notable commercial real estate foreclosures, auctions, and distressed loan updates across the U.S. from the past week:
– A 25-story office tower at Westlake Center in downtown Seattle was sold for $83.6 million in a foreclosure sale. The 365,674-square-foot building at 1601 Fifth Avenue, known as Westlake Tower, formerly owned by Unico Properties, had a 33% vacancy rate. Unico acquired the property for $236 million in 2019. MetLife, the lender, foreclosed and the building is now owned by a MetLife-linked entity after the process managed by Beacon Default Management Inc.
– In Denver, California-based Thorofare Capital acquired the historic Symes Building at 820 16th Street for $6 million in a foreclosure auction. The building had been planned for conversion into 116 housing units with city funding support. Thorofare had loaned $18.66 million to the previous owner, Harbor Associates, in 2022. A judge ruled Harbor defaulted, prompting the auction.
– A foreclosure case involving a downtown Cincinnati office tower is nearing resolution. Located at 312 Elm Street, the building is currently in receivership, and a judge issued a final judgment against owner Rubenstein Partners. Wilmington Trust National Association — now represented by Rialto Capital Advisors — was granted summary and default judgment. The total owed with interest and fees stands at $49.9 million.
– The Orme Building, a historic 44,000-square-foot office property at 1424 K Street NW in Washington, D.C., may face foreclosure. A Douglas Development Corp. affiliate owns the property, and it is scheduled for auction on March 4. The owner defaulted on a $13.3 million loan dating from 2015, of which $8.6 million is still owed.
– In Baltimore’s Harbor East, the partially demolished Meyer Seed Co. warehouse at 600 S. Caroline Street is set for foreclosure auction on February 27. Chasen Cos. had acquired the site for $10 million in 2022, intending to develop a mixed-use project. However, the auction includes only the 72,000-square-foot street-level portion, as the property was subdivided into two separate “condominiums” last year.
– The proposed sale of Harwood Center in downtown Dallas has been canceled. CMBS trusts that foreclosed on the 1983-built office tower almost five years ago opted not to proceed after listing it for auction last fall with a starting bid of $10 million. The 1999 Bryan Street property remains about 47% leased and serves as the headquarters for engineering firm Jacobs.
– Forbearance agreements have been finalized for two Simon Property Group-owned outlet centers: Grove City Premium Outlets in Pennsylvania ($140 million) and Gulfport Premium Outlets in Mississippi ($50 million). Both had entered special servicing in August and now have maturity dates extended to December 2027.
– A $130-million securitized loan on properties located at 215 W. 34th Street and 218 W. 35th Street in Manhattan has received a loan modification. The refinancing extends the maturity date to January 2028. The properties include retail space and land beneath a 350-key Marriott hotel. The loan entered special servicing in October 2025, ahead of its original January 2026 maturity date.
These developments reflect the ongoing challenges facing commercial real estate, particularly in office and retail sectors, as rising interest rates and evolving economic conditions have placed pressure on borrowers and investors alike.
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