K-Star Asset Management - Special Servicer
With a focus on asset optimization, K-Star offers tailored servicing solutions to maximize value for investors. We are tracking 42 CMBS deals from this servicer's portfolio.Servicer Metrics
Key performance indicators and workout statistics for K-Star Asset Management.Workout Statistics
Modifications
0Foreclosures
16Bankruptcies
0Extensions
0Note Sales
0DPOs
1REOs
0Deed in Lieu
0Full Payoffs
0Current Status
Active Deals
15Resolved
3Returned
4Pending Return
2Most Recent Transfer
4/14/2026Most Recent Return
6/3/2026Recent 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 K-Star Asset Management, highlighting their approach to managing distressed CMBS assets.💬 Servicer Commentary
2026-06-30
North Attleboro Shopping Center
Ryan G. Gadles
6/11/2026 - The Loan transferred to special servicing effective 10/7/24 for payment default. The Loan is currently due for the 2/1/25 payment. The loan had previously transferred to special servicing in June 2024 for cash management issues but was returne d as a transfer in error. Legal counsel has been engaged and formal demand for past due amounts and cash management cooperation sent to Borrower. Cash management is now in place. The second largest tenant, Walgreens, went dark and did not renew at their 1 2/31/24 expiration. A lease to backfill the Walgreens space has been approved and executed. Updated appraisal has been finalized. The special servicer was moving toward foreclosure, but ultimately a forbearance was reached with Borrower, allowing it tim e to effectuate a sale of the property at a minimum price.
💬 Servicer Commentary
2026-06-30
4201 Connecticut Avenue Northwest
Bruce S. Brickman
6/11/2026 - Loan was transferred to special servicing 6/7/2023 due to an Imminent Monetary Default. The loan is secured by a 6-story, 70,658 SF Class B+ office building and a 104-space, subterranean parking garage. Cash management was in place at the tim e of transfer to SS. Legal counsel has been engaged, the demand notice was sent and the Loan was accelerated. Receiver took control of the property on 11/20/23. Receiver continues to negotiate renewals with current tenants for leases expiring in the ne ar term and pursue tenants for the vacant office and former bank space. Borrower has not provided a workout proposal to date and has cooperated with the legal process. Loan is paid through March 2025. Lender continues to evaluate disposition options. U pdated appraisal has been distributed and reported.
💬 Servicer Commentary
2026-06-30
Portfolio (7 Multifamily properties)
TrinityFlood
6/11/2026 - Loan transferred to Special Servicing effective 9/10/24 due to a payment default for the 7/6/24 payment. Loan is secured by 3 multifamily properties in Chicago, IL, 3 multifamily properties in Valdosta, GA and 1 multifamily property is Sierra Vista, AZ. Borrower was not able to secure insurance for the 3 Chicago properties in the portfolio and Lender force placed insurance. Borrower made partial payments through November 2024 and the loan is paid through August 2024. Borrower engaged a cons ultant and signed the PNA. Borrower had been working on selling the portfolio and has submitted various workout proposals, which were rejected. Additionally, the Borrower has made many claims against the Lender that are being further researched. Forecl osure was filed for all of the assets. A receiver was appointed on 7500 S South Shore Drive (Chicago) in November 2025 and has secured the property. Subsequently, a receiver was appointed on the Clyde and Chappel (Chicago) assets in February 2026. Fore closure sale for the GA assets was held on 11/4/25 and the properties are now REO. Foreclosure sale for the AZ asset was held on 12/11/25 and the property is now REO.
💬 Servicer Commentary
2026-06-23
Worldwide Plaza
Subject is a $940,000,000 note that is secured by a senior lien against a 49-story, 1,825,058 square foot, Class A multi-tenant office property located at 825 Eight Avenue in New York City. Collateral also includes 254,554 square feet of amenity spa ce (restaurant, retail, theater and parking garage). Capital stack includes mezzanine debt. The mezzanine debt was reportedly sold to an investor who accelerated the balance due and scheduled a UCC sale for January 15, 2026. Waterfall was insufficien t to pay the January 2026 tax bill and the December 2025 note payment. Demand for these payments was made but Borrower has not responded to date. Lender accelerated the subject note and filed for foreclosure. A receiver was appointed and is in possession of the collateral. Changing the property manager at Lenders election. Request was filed with the Court to expand the Receiver's powers and hire essential consultants and lawyers.
💬 Servicer Commentary
2026-06-23
90 Fifth Avenue
Michael Fuchs
Receiver remains in place and foreclosure litigation is ongoing. Property's sole tenant remains TD Bank (3,915 SF; 11/30/27 exp.).
💬 Servicer Commentary
2026-03-03
12/10/2025- The loan was transferred to Special Servicing on September 17, 2025, due to a payment default (waterfall shortfall not funded by the Borrower). The Borrower also formally requested the transfer at that time. A Pre-Negotiation Agreement was executed with both the Borrower and Guarantor. The asset is currently 74% leased. An updated appraisal was recently completed, and the Appraisal Reduction Amount (ARA) calculation was submitted to the Master Servicer in accordance with the Trust and Servicing Agreement. The Borrower has funded a reinstatement payment to bring the loan current, along with reserves to cover projected shortfalls over the next 12 months. In addition, the Borrower funded $1.5 million into a new leasing reserve account. With these actions completed, the Special Servicer will return the loan to the Master Servicer. No modification or workout fee will be charged in connection with this Corrected loan.
💬 Servicer Commentary
2026-02-23
12/10/2025- The loan was transferred to Special Servicing on September 17, 2025, due to a payment default (waterfall shortfall not funded by the Borrower). The Borrower also formally requested the transfer at that time. A Pre-Negotiation Agreement was exe cuted with both the Borrower and Guarantor. The asset is currently 74% leased. An updated appraisal was recently completed, and the Appraisal Reduction Amount (ARA) calculation was submitted to the Master Servicer in accordance with the Trust and Servicin g Agreement. The Borrower has funded a reinstatement payment to bring the loan current, along with reserves to cover projected shortfalls over the next 12 months. In addition, the Borrower funded $1.5 million into a new leasing reserve account. With these actions completed, the Special Servicer will return the loan to the Master Servicer. No modification or workout fee will be charged in connection with this Corrected loan.
💬 Servicer Commentary
2026-02-23
12/10/2025- The loan was transferred to Special Servicing on September 17, 2025, due to a payment default (waterfall shortfall not funded by the Borrower). The Borrower also formally requested the transfer at that time. A Pre-Negotiation Agreement was exe cuted with both the Borrower and Guarantor. The asset is currently 74% leased. An updated appraisal was recently completed, and the Appraisal Reduction Amount (ARA) calculation was submitted to the Master Servicer in accordance with the Trust and Servicin g Agreement. The Borrower has funded a reinstatement payment to bring the loan current, along with reserves to cover projected shortfalls over the next 12 months. In addition, the Borrower funded $1.5 million into a new leasing reserve account. With these actions completed, the Special Servicer will return the loan to the Master Servicer. No modification or workout fee will be charged in connection with this Corrected loan.
💬 Servicer Commentary
2025-12-01
123 Whiting Street
Pincus Rand
11/12/2025 - Loan was transferred to Special Servicing on 4/15/24 due to imminent monetary default as the loan was due for the February 2024 payment. The collateral consists of two single-story industrial flex/warehouse buildings totaling 99,709 SF and a stand-alone garage structure. The improvements were constructed in 1910, 1945, and 1950 and all renovated in 2008. PNL has been executed by the Borrower. Negotiations for Borrower to bring the loan current are ongoing as Special Servicer continues to dua l track foreclosure and appointment of a receiver. Funds in the lockbox have been applied to past due payments through July 2025. Note is being marketed for sale and note sale closing is expected in 4Q25.
💬 Servicer Commentary
2025-07-29
The Alhambra Lofts
NormanStrulovitch
6/11/2025 - The Loan transferred to SS on 2/06/2025 due to imminent monetary default. The collateral is a 38 unit multifamily property well-located on the corner of Knickerbocker Avenue and Halsey Street in the Bushwick neighborhood of Brooklyn, NY. As of the February 2025 rent roll, the Property is 100% leased. The Loan is paid current. A Modification to the Loan that waived penalties and add Borrower certifications was executed this period. This RTM is in process on this
* 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.
* 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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