Category Archives: Special Servicer

Appraisal Puts 131 South Dearborn Tower in Chicago Underwater

The appraised value of the 1.7 million square-foot Citadel Center at 131 South Dearborn in Chicago has dropped to $400 million, below the $472 million in CMBS loans on the…

Hilton Springfield Sees its Appraised Value Slashed

Hilton Springfield, the 245-room, full service hotel in Springfield, VA valued at $49 million in early 2012, has seen its appraised value lowered to $27.7 million due in part to…

$62M Loan on Westin – Falls Church Transferred to Special Servicer

A $62 million loan on the Westin – Falls Church Hotel in Falls Church, VA has been transferred to a special servicer due to imminent default, according to Fitch, which…

$150M COPT Office Portfolio Loan Becomes Delinquent for First Time

The $150 million COPT Office Portfolio loan, which is backed by two office properties in Chantilly, VA, has been transferred to a special servicer after becoming delinquent for the first…

Value of Former CSC Office Building in VA Drops More than 75 Percent

The special servicer for the 325,000 square foot office building in Lanham, MD formerly occupied by Computer Science Corp (CSC) says that the value of the asset has fallen by…

Uncontested Foreclosure Agreement Reached for Northfield Square Mall in Bourbonnais, IL

The special servicer for the Northfield Square Mall in Bourbonnais, IL has reached an uncontested foreclosure agreement with the borrower behind a $24.6 million loan on the asset, according to…

Appraised Value of 6116 Executive Blvd in Rockville, MD Slashed by Two-Thirds

The 207,055 square-foot office building at 6116 Executive Boulevard in Rockville, MD, also known as Rockville Executive Office Center I, has seen its appraised value slashed by two-thirds, according to…

Special Servicer Pursuing Foreclosure on Tyngsboro, MA Retail Property

A $17.625 million loan on the TJ Maxx Plaza, a 136,206 square-foot retail property in Tyngsboro, Mass., has been transferred to a special servicer, which is pursuing a foreclosure on…

Impressions Marketing Group Vacating 110,000 SF in Lorton, VA

Impressions Marketing Group (IMG), a provider of custom store fixtures and decor, is vacating the 110,000 square foot industrial building it fully occupies at 7951 Angleton Court in Lorton, VA,…

Another Extension for $190M Loan on Renaissance Mayflower Hotel

The $190 million loan on the Renaissance Mayflower Hotel at 1127 Connecticut Avenue NW in Washington, D.C. has been granted a second loan modification, according to Trepp, which cites special…