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 38 CMBS deals from this servicer's portfolio.
Servicer Metrics
Key performance indicators and workout statistics for K-Star Asset Management.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 K-Star Asset Management, highlighting their approach to managing distressed CMBS assets.6/11/2025 - The SS transfer date was 3/13/2025 as a result of a payment default. The collateral consists of a 25,060 sq. ft. retail center located at 2727 Via Cascadita, San Clemente, CA. Borrower closed a sale transaction and defeased the loan
6/11/2025 - Borrower signed PNL and Cash Management is functioning. Negotiations continue regarding future of Loan and Property. Loan remains current as of May 2025.
6/11/2025 - This Loan transferred to SS on 3/27/2025 due to an Imminent Default. Loan is paid through February 2025. The Loan is secured by four (4) hospitality properties (i) 83-room Hampton Inn & Suites Nashville Smyrna located in Smyrna, TN, (ii) 112- room Hilton Garden Inn Nashville Smyrna, located in Smyrna, TN, (iii) 127-room Hyatt Place Phoenix North, located in Phoenix, AZ, and (iv) 139-room Aloft Broomfield, located in Broomfield, CO. Borrower submitted a proposal to
6/11/2025 - The SS transfer date was 1/9/2025 due to Payment Default. Loan is paid through 10/2024. The collateral is a multi-tenant strip center that contains 38,361 SF built in 1994 and located in the tourist district in Clearwater Beach, FL. Hurrican es in September 2024 impacted the property. Borrower submitted a proposal to Lender which is under review.
6/11/2025 - The SS transfer date was 5/14/2020. Loan is delinquent as of 7/6/2020. The loan is collateralized by a 206 key full-service Holiday Inn located in the Houston MSA. Several attempts to sell the collateral were unsuccessful while the Receiver wa s in place.The Noteholder pursued the Guarantors against a recourse claim and reached a settlement. The Trust took title through a foreclosure sale on 12/3/2024. The Property was marketed via an auction and is currently under
6/11/2025 - The SS transfer date was 1/8/2021 due to payment default. The Trust took title on 10/5/2022. The Loan is collateralized by Copeland Tower and Stadium Place, two Class-B office buildings in Arlington, Texas. Copeland Tower is a 12-story build ing built in 1985 and with 126,628 sf of NRA on 6.4 acres. Stadium Place is a 5-story building containing 84,653 NRA sf built in 1982 on 3.9 acres. The collateral was foreclosed on 10/5/2022 and title is held by the Trust. Occupancy is currently 40% at C opeland Tower and 77% at Stadium Place. The Noteholder is formalizing plans to market the property in 3Q2025.
Loan transferred to SS on 1/24/24 due to failure to comply with Excess Cash requirements.Collateral is comprised of 2, adjacent, Class A, 21-story office tower totaling 950K SF in Richmond, VA. Current occupancy is 83%. Cash management is in place and cash flow sweep is active. Special Servicer has engaged legal counsel; however, PNA has not been executed. Special Servicer continues to monitor performance and leasing at the property as the 2 major tenants roll in mid to late 2025. Largest tenant has exercised its 5 year renewal option and a lease renewal has been executed by tenant. Special Servicer is working with the Borrower a potential reinstatement/return to Master Servicer while also continuing to
"6/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders.We have received a workout proposal from borrower and are negotiating.Also, all of the mezzanines have expressed an interest in negotiating cure scenarios. Are trapping property cashflows to keep all mortgage notes current.Are not making any of the mezzanine''s pa yments, they are all due for December 2024."
"6/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders.We have received a workout proposal from borrower and are negotiating.Also, all of the mezzanines have expressed an interest in negotiating cure scenarios. Borrower continues his unit-upgrade capex program. Are trapping property cashflows to keep all mortgage notes current.Are not making any of the mezzanine''s pa yments, they are all due for December 2024."
"6/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders.We have received a workout proposal from borrower and are negotiating.Also, all of the mezzanines have expressed an interest in negotiating cure scenarios. Borrower continues his unit-upgrade capex program. Are trapping property cashflows to keep all mortgage notes current.Are not making any of the mezzanine''s pa yments, they are all due for December 2024."
* 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.