Return to Lender: Week of Nov. 5, 2026

The 1900-vintage Chamber of Commerce Building, a redbrick office tower at 411 Seventh Ave. In Pittsburgh that takes up much of a block, did not generate any outside bids when it came up for the monthly sheriff’s sale on Monday, Nov. 2, the Pittsburgh Business Times reported. Instead, the plaintiff and loan holder for the building, a CMBS trust organized by an affiliate of Goldman Sachs, made an opening bid of $1.4 million on the property. There were no other competing bids, allowing the lender to take over as the new owner after its previous owner, 411 Seventh Avenue Associates LP, faced foreclosure.

Valley West Mall ($37.4 million | MSBAM 2013-C7) was liquidated this month, taking a 124% loss severity based on the balance at the time of liquidation. Morningstar Credit reported earlier this month that the West Des Moines, IA property was sold for $11.0 million, with the buyer planning to demolish the existing structure and rebuild. Expenses totaled nearly $19.0 million, pushing the total loss to $46.3 million.

The shuttered Sixty Sixty Resort in Miami Beach could be sold via U.S. Bankruptcy Court as its owner filed a plan of liquidation with a buyer waiting in the wings, according to the South Florida Business Journal. Back in February, Bloom Hotels 6060 LLC filed Chapter 11 reorganization in Miami. The company owns all 87 condo-hotel units at 6060 Indian Creek Dr., which was built in 1992 and converted into a condo-hotel in 2005. However, the hotel has been non-operational for several years.

The Foshay Tower, which houses the 229-room W Minneapolis hotel in downtown Minneapolis, is scheduled to go to a foreclosure sale mid-December after facing a recent lawsuit, reported the Minneapolis/St. Paul Business Journal. Scheduled for Dec. 18, the anticipated sale comes after a Hennepin County District Court judge ruled Aug. 25 that the owner of the 32-story tower, located at 821 S. Marquette Ave., owes more than $42.3 million tied to a defaulted loan on the property.

The Washington Business Journal reported that an affiliate of Washington Property Co.did not pay off or refinance a $35-million loan secured by a 242,000-square-foot office property in Silver Spring, landing the loan in special servicing for the second time in three years. The CMBS loan was transferred to LNR Partners in July.

NVR, Inc. has vacated its space at Plaza America I & II ($125 million | CGCMT 2016-P5 & WFCM 2016-C36 | CMBX.10) upon its October 2026 lease expiration. The tenant had occupied 11.7% of the space at the Reston, VA office property, Morningstar Credit reported. The loan moved to special servicing in September 2025 after falling delinquent; it subsequently passed its maturity date in August 2026. Receivership seems likely in the near term, according to Morningstar. The sponsor’s adjacent Plaza America Towers III & IV ($76.0 million | 32.5% of GSMS 2013-GC13 | CMBX.7), which has been in special servicing since July 2025, has a discounted payoff being documented per updated servicer notes.

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