3650 REIT Loan Servicing - Special Servicer
Known for its client-centric approach, 3650 REIT offers personalized servicing solutions tailored to the unique requirements of each transaction. We are tracking 12 CMBS deals from this servicer's portfolio.
Servicer Metrics
Key performance indicators and workout statistics for 3650 REIT Loan Servicing.Workout Statistics
Current Status
Recent Commentary
Special servicers provide regular updates on troubled loans through SEC filings, offering valuable insights into workout strategies and asset performance. Below are recent comments from 3650 REIT Loan Servicing, highlighting their approach to managing distressed CMBS assets.4/11/2025 - The loan transferred to Special Servicing due to payment default. The Special Servicer is in active discussions with the borrower while evaluating all potential resolutions to maximize recovery to the trust.
4/11/2025 - The loan transferred to special servicing due to imminent default due to the property''s total loss in the Palisades Fire. Special Servicer is in active communications with the Borrower and pending receipt of the insurance proceeds. Sim ultaneously, the special servicer is evaluating all strategies to maximize the recovery to the trust.
4/11/2025 - The loan was transferred to special servicing due to an imminent default. Mezzanine Lender successfully exercised remedies through a UCC Foreclosure on June 28, 2024. Special Servicer is finalizing legal documentation to
4/11/2025 - The loan recently transferred to special servicing due to payment default resulting from limited cashflow and the borrower has expressed an inability to fund future shortfalls. The Borrower requested a Loan Modification and special serv icer is evaluating strategies to maximize the recovery to the trust while maintaining ongoing discussions with borrower.
4/11/2025 - The loan transferred to special servicing due to a borrower-declared imminent monetary default. Borrower has signed a pre-negotiation letter and submitted a loan modification request, however, no terms have been agreed upon. A receiver was app ointed to manage the property on 9/21/2023. Receiver engaged an affiliate to market the property for sale and a call for offers occurred on 11/22/2024, however, no acceptable offers were submitted. Lender is evaluating the loan
4/11/2025 - The loan transferred to Special Servicing due to payment default. The Special Servicer is in active discussions with the borrower while evaluating all potential resolutions to maximize recovery to the trust.
2/11/2025 - The loan was transferred to Special Servicing due to the appointment of an entity receiver on 10/27/23. The entity receiver was appointed on a second property in the State of Indiana (Entity Receiver is now on two of the fourteen properties in the portfolio). SEC receiver has been appointed on the remaining portfolio and other assets owned by ArciTerra Companies, LLC and its related affiliates. An Agreement of Use of Rents During Receivership was executed and was extended through Q3 2024 which enabled the Borrower to remain current for the interest and escrow amounts due through September 2024. The Loan Modification to extend the interest-only period through June 2025 was executed in Q4 2024 and is in the process of being onboarded by the Master Servicer in order to post interest-only payments.
2/11/2025 - The loan recently transferred to Special Servicing due to payment default and is evaluating strategies while discussing with borrower.
2/11/2025 - The loan was transferred to special servicing due to an imminent default. Mezzanine Lender successfully exercised remedies through a UCC Foreclosure on June 28, 2024. Borrower submitted amended modification terms and
* Commentary dates (asof) represent when the special servicer made the comment.
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CMBS Special Servicing Commentary
Special servicing commentary extracted from sec.gov Form 10-D filing servicer reports.