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**Return to Lender: Week of Dec. 11, 2025**
A wave of commercial property transfers and foreclosures highlights a challenging market landscape across multiple regions. Below is a summary of some of the major properties that changed hands in the past week.
– **1800 Larimer, Denver, CO**: A 22-story office tower previously serving as Xcel Energy’s local headquarters was returned to its lender, Blackstone Mortgage Trust. Beacon Capital Partners had acquired the property in 2022 for $291 million and borrowed $190.6 million against it. Although the loan had an option to extend to March 2027, the building was transferred to satisfy the 2022 deed of trust. No foreclosure was reported.
– **Plaza San Ramon, San Ramon, CA**: The 312,000-square-foot Plaza San Ramon office complex was foreclosed on December 4 after its owner, C-III Capital Partners, defaulted on a $59.2 million loan. Originally acquired in 2018 for $72.2 million, the property was valued at just $30 million at the time of foreclosure. The lender, Redus Properties, a Wells Fargo subsidiary, took back the asset.
– **Preston Plaza, Dallas, TX**: A 10-story office tower is set to change ownership after a New York-based investor, Arthur Zeckendorf of AZ Family Partners, placed the winning bid at a November auction. The 6.3-acre property is currently only 35% occupied. The starting bid for the tower was $2.25 million, although the final sale price was not disclosed.
– **Tides on Westcreek, Fort Worth, TX**: The 269-unit multifamily property was foreclosed on by Franklin BSP Realty Trust. Tides Equities had purchased the property in 2022 and received financing of $32.82 million. Although the loan matured in June 2024 and the first extension was used, subsequent extensions required a fee and purchase of a new rate cap, which were not completed.
– **The Huntington, Washington, D.C.**: A Chevy Chase multifamily community consisting of 127 units was sold at a foreclosure auction for $13.9 million to Mentis Capital Partners. The previous owners had defaulted on an $11.7 million loan held by an affiliate of Maxim Credit Group.
– **Fairfield Inn and Crowne Plaza, King of Prussia, PA**: Two hotel properties have been listed for sale after Buccini Pollin Group handed them back to their debt holders. JLL’s Hotels & Hospitality Group is managing the sale, which allows for the acquisition of both properties together or individually. No asking price has been disclosed.
– **Westroads Mall, Omaha, NE**: The retail property was transferred to special servicing after missing its extended maturity deadline in October 2025. According to Morningstar Credit, the outstanding loan is leveraged to 52% of the property’s appraised value based on a 2022 assessment.
– **Heinz 57 Center, Pittsburgh, PA**: McKnight Realty Partners’ downtown office building has entered special servicing and faces potential loan default. The outstanding loan balance is $62.6 million and reached its maturity date this past Saturday.
These changes reflect growing distress in both urban cores and suburban markets, signaling a turbulent period ahead for commercial property owners and lenders alike.
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