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**Return to Lender: Week of October 16, 2025**
**Bank of America Plaza Sells at Major Discount**
The long-troubled Bank of America Plaza in downtown St. Louis has sold for just $6.3 million in a foreclosure sale, according to the St. Louis Business Journal. The 800 Market St. tower, previously purchased by Positive Investments for $47.85 million in 2010, has been in receivership since 2024. The new owner is GSMS 2015-GC30 Market Street LLC. This sale marks a roughly 60% loss in value from the property’s 2003 sale.
**West Coast Office Loan Portfolio Hits the Market**
A $102-million nonperforming loan pool backed by three West Coast office properties is now on the market, reported the San Francisco Business Times. The portfolio includes:
– Mt. Diablo Plaza, a 340,557-square-foot office in Walnut Creek, CA
– Amberglen, a 157,517-square-foot office in Hillsboro, OR
– Bel-Kirk 520, a 92,844-square-foot office in Bellevue, WA
Newmark is marketing the debt, clearing the way for a potential new investor.
**Denver Multifamily Development Site Faces Foreclosure**
Two lots near the future site of the Denver Broncos’ planned stadium have entered foreclosure, according to the Denver Business Journal. Located at 1864 W. 13th Ave. and 1820 W. 13th Ave., the site was slated for a 242-unit apartment complex named “The Felix.” Delaware-based B.A. Debt Fund filed foreclosure proceedings after a $3-million loan went unpaid.
**650 Madison Avenue Loan Transferred to Special Servicing**
The $800-million CMBS loan attached to 650 Madison Avenue in Midtown Manhattan has transferred to special servicing due to an “imminent monetary default,” Morningstar Credit reported. The property’s value has dropped to $950 million—21% below its issuance appraisal of $1.21 billion. As of June 2025, occupancy had fallen to 74%, far below the underwritten 97%.
**Special Servicing for Retail Property Backing 215 W. 34th Street Loan**
A loan backed by retail space and underlying land beneath a 350-key Marriott at 215 West 34th Street and 218 West 35th Street in Manhattan has also transferred to special servicing. The $130-million loan spans multiple CMBS deals. No cause was specified. The loan matures in January 2026.
**Paramus Park Mall Enters Special Servicing**
Paramus Park, a regional mall in Paramus, NJ, backing a $120-million loan, has entered special servicing after maturity default in September, according to Morningstar Credit. Although the borrower has indicated plans to cure the default, further details were not disclosed. The property reported $6.6 million in net cash flow for 2024, about half its issuance level, with 83% occupancy in June 2025.
**Foreclosure Filed on Westbrook Corporate Center**
Lenders have initiated foreclosure on Westbrook Corporate Center in Westchester, IL, rejecting a $52.5-million purchase offer from the sponsor. The $86.9 million loan has been in special servicing since September 2024. The property’s value was recently appraised at $41 million—roughly 70% below the issuance valuation. Occupancy fell to 57% as of August 2025, compared to 84% at issuance.
**North Point Center East Moves Into Special Servicing**
The $57.4-million loan tied to North Point Center East in Alpharetta, GA, has moved to special servicing ahead of its February 2026 maturity. Morningstar Credit reports that the office property has experienced annual declines in net cash flow and occupancy since 2020.
These updates reflect continued stress in the office and retail sectors and indicate worsening conditions for various asset classes heading toward 2026.
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