Chicago
Mar 18, 2025
Investors snag distressed Chicago Ambassador Hotel at big discount
Gold Coast hotel changed hands after previous owner defaulted on $38.5M following pandemic shutdown
Distress
Chicago
Mar 18, 2025
R2’s loft office debt workout cuts Heitman out of the picture
Nonperforming loan purchaser Beltway Capital kept Matt Garrison’s firm on board
Chicago
Mar 17, 2025
Hamilton seeks reprieve for big office debt as Accesso bleeds equity
Minority owner of Esplanade building in Downers Grove is putting up capital to hang onto property as $69M debt transfers to special servicer
New York
Mar 17, 2025
RXR cedes “digital” Midtown office building to lender
Barings purchased property at auction for $161M
Chicago
Mar 14, 2025
Zell Kravinsky snags Algonquin rentals for $19M after FPA’s distress play
Suburban Chicago property bought out of distress in 2018 by Greg Folwer’s San Francisco-based multifamily giant headed to investor landlord
Chicago
Mar 13, 2025
Beacon lists debt-burdened Loop office tower that’s losing tenants
Landlord has invested $14M in upgrades to attract leases
Chicago
Mar 13, 2025
“Land speculation becomes problematic”: Chicago cracks down on more debtors
How distressed real estate strategies of suburban firms Goldmine Investments and QCD Financial led to legal peril with $9M in fines and interest owed to the city
New York
Mar 13, 2025
Tamares Group secures four-year extension at 1500 Broadway
$505M loan in Times Square matured in October
Atlanta
Mar 10, 2025
RG Real Estate grabs bargain near bottom of suburban market
Foreclosure discount on Kennesaw office complex accents metro’s challenges
Chicago
Mar 8, 2025
Digging into Chicago’s biggest brokers and builders
Plus, muddled foreclosure lawsuits threaten suburban CRE investments, River North mastermind Al Friedman opens up and more Chicago real estate news
Chicago
Mar 7, 2025
Stripe expands River North office lease in distressed Blackstone-owned tower
Fintech firm doubling River North office space set to be taken over by a lender after landlord defaulted on $310M loan
Chicago
Mar 7, 2025
Zaya Younan fights Arlington Heights office foreclosure in bizarre conundrum
Royal Business Bank seeking title to One North Arlington as well as the commercial landlord’s luxury home outside Los Angeles
Chicago
Mar 6, 2025
Skokie hotel developer E&M faces messy foreclosure on $24M construction loan
Lender’s lawsuit is the latest setback in three years of delays on a Homewood Suites by Hilton planned for downtown Skokie by local developer
Chicago
Mar 4, 2025
Struggling Sonder ditches River North hotel, landlord sues for $4M
Dispute arises after Hawkins Way Capital, owner of 60-room Found Hotel, dodged foreclosure last year
Chicago
Mar 1, 2025
Weekend tour: Developers turn to data centers as backup plans & other news
Major Hoffman Estates plan, office project by 601W pivot — and more headlines in Chicago real estate
Chicago
Feb 28, 2025
Bulls player Williams straightens out mortgage snafu on Gold Coast condo
Reps for Patrick Williams say alleged loan default was due to a clerical error; Goethe Street unit is among several high-profile Chicago-area loans to fall into potentially errant default disputes
Chicago
Feb 28, 2025
Onni scooping up Legal Aid lease in Loop office cutback
Nonprofit set to leave Ravelin’s 120 South LaSalle for Onni Group’s 200 North LaSalle closer to Thompson Center redevelopment
New York
Feb 28, 2025
Flagstar finds buyer for $343M of troubled loans on NYC buildings
Loan Star Funds picks up debt tied to 130 and 220 Fifth Avenue, among others
Chicago
Feb 26, 2025
Blackstone hit by foreclosure on $310M loan for River North Point
Goldman Sachs sued over the debt after Blackstone allegedly defaulted at maturity
San Francisco
Feb 24, 2025
Lenders push back foreclosure auction for San Francisco’s largest mall
Deutsche Bank, JPMorgan Chase owed $626M secured by San Francisco Centre