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According to a report from the Portland Business Journal, Liberty Centre, a 17-story high-rise in Portland’s Lloyd District spanning 275,000 square feet is up for sale after being returned to its lender in December. The property was transferred to an entity of asset management firm Barings through a deed in lieu of foreclosure.
DAOL Asset Management plans to take over the 511,208-square-foot office building at 285 Madison Ave. through an April 15 auction after holding a $205-million mezzanine loan against it. Newmark has been tasked with marketing the property which was initially financed by Korean investment manager and now sits behind what is currently a $212.79-million senior loan that has been under special servicing since October.
The partly constructed apartment tower owned by Chasen Cos., located at Harbor East will be auctioned off next month due to foreclosure proceedings initiated by its bank according to reports from Baltimore Business Journal . The Anne on Aliceanna at 1400 Aliceanna St., will be sold on March14th outside Clarence M Mitchell III Courthouse as per Atlantic Auctions who are handling this sale.
A Northwest D.C hotel near Friendship Heights Metro Station named Embassy Suites by Hilton Washington D.C Chevy Chase Pavilion faces possible foreclosure as reported recently by Washington Business Journal . Alex Cooper Auctioneers have scheduled March14th for this purpose while acting on behalf of Los Angeles based PCCP LLC who had provided financing but later found out that their borrower Arden Group defaulted on their January2018 acquisition deal worth$44 million leaving them with only$37million balance left unpaid.
After obtaining final ruling against Hertz Investment Group last month Wells Fargo Bank National Association filed suit back in November2023 seeking permission from court judge so they can start selling downtown Cincinnati’s largest office towers Center at600 Vine which stands tall above30 stories according Cincinnati Business Courier .
San Francisco business times reported Oakland Marriott City Center having defaulted on $100 million loan. Gaw Capital Partners, which acquired the hotel in 2017 for a total purchase price of $143 million, took out an initial loan of $80 million from Natixis’ New York branch and later increased it to$100million in 2019.
Real estate investor Daryl Hagler announced securing a$42.5-million loan to support construction of Watermark Capital’s residential project at Brooklyn’s Sunset Park neighborhood located at6128 Eighth Ave., after facing foreclosure attempt by Rialto Capital Group due to being situated on former rail yard as per Connect CRE .
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