Newmark is offering for sale a $87.5 million loan against a 182,738-square-foot office property in Midtown Manhattan at 292 Madison Ave. The loan was originally provided by Deutsche Bank to owner Vanbarton Group for refinancing purposes and matured last month. Vanbarton acquired the property in 2016 and has since renovated it, with current occupancy at 70%.
In San Francisco, Rialto Capital has listed an office building located at 340 Bryant St., which they took ownership of through a foreclosure auction last year. The special servicing arm of the real estate investment management firm is seeking pricing around $10 million for the building.
Crescent Heights transferred ownership of a development site adjacent to Nema Chicago through deed in lieu of foreclosure to Mexican lender Grupo Financiero Inbursa after being unable to sell it since last summer.
Seven Seattle office buildings owned by Martin Selig Real Estate have had their loans transferred to special servicer due to imminent monetary default as they reached maturity earlier this month.
CVS Las Vegas Strip also saw its $18.7 million loan transferred into special servicing due to maturity default this month according Morningstar reports.
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