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 11 CMBS deals from this servicer's portfolio.

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Servicer Metrics

Key performance indicators and workout statistics for 3650 REIT Loan Servicing.

Workout Statistics

Modifications
2
Foreclosures
0
Bankruptcies
0
Extensions
0
Note Sales
0
DPOs
0
REOs
0
Deed in Lieu
0
Full Payoffs
0

Current Status

Active Deals
11
Resolved
5
Returned
5
Pending Return
0
Most Recent Transfer
3/3/2025
Most Recent Return
10/31/2023

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.

3/11/2025 - The loan transferred to Special Servicing due to payment default. The Special Servicer is initiating discussions with the borrower while evaluating all potential resolutions to maximize recovery to the trust.

BBCMS 2023-C21
2025-03-28
Portfolio (2 Industrial properties)
Gary C. Nielson

3/11/2025 - 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 in active loan modification discussions

CSAIL 2019-C17
2025-03-27
Apx Morristown
Keystone Tristate Opportunity Parallel Fund LP

3/11/2025 - 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 discussions with Borrower and will be engaging an insurance consultant.

CSAIL 2019-C17
2025-03-27
Atrium
Kamyar Shabani

3/11/2025 - The loan recently transferred to Special Servicing due to payment default and Special Servicer is evaluating strategies while discussing with borrower.

CSAIL 2019-C17
2025-03-27
Portfolio (3 Office properties)

3/11/2025 - 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 appointed to manage the property on 9/21/2023. Receiver has engaged an affiliate to market the property for sale and a call for offers occurred on 11/22/2024. Offers are currently being considered by the receiver as of 2/27/2025.

CSAIL 2019-C15
2025-03-27
Continental Towers
Rubenstein Properties Fund III L.P.

3/11/2025 - The loan transferred to Special Servicing due to payment default. The Special Servicer is initiating discussions with the borrower while evaluating all potential resolutions to maximize recovery to the trust.

BMARK 2023-V2
2025-03-27
Chicago Heights
Ian Quint

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

CSAIL 2020-C19
2025-02-27
Apx Morristown
Keystone Tristate Opportunity Parallel Fund LP

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.

CSAIL 2020-C19
2025-02-27
Portfolio (14 MU properties)
Jonathan M. Larmore

2/11/2025 - The loan recently transferred to Special Servicing due to payment default and is evaluating strategies while discussing with borrower.

CSAIL 2020-C19
2025-02-27
Portfolio (3 Office properties)
Selig Family Holdings, LLC
* This list shows only a few of the most recent special servicing commentaries. We are continuously updating our coverage!
* Commentary dates (asof) represent when the special servicer made the comment.
* For full disclosures, please visit our disclosures page.

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CMBS Special Servicing Commentary

Special servicing commentary extracted from sec.gov Form 10-D filing servicer reports.

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