1,107 deals

LNR Partners - Special Servicer

A market leader in CMBS special servicing, LNR Partners offers innovative solutions for distressed asset management and resolution. We are tracking 108 CMBS deals from this servicer's portfolio.

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Recent Deals

MSC 2022-L8

CMBS
2022-03-18

MSC 2021-L5

CMBS
2021-04-26

GSMS 2020-GSA2

CMBS
2020-12-14

MSC 2019-L3

CMBS
2019-11-04

GSMS 2019-GC40

CMBS
2019-06-20

CSAIL 2019-C16

CMBS
2019-06-11

Servicer Metrics

Key performance indicators and workout statistics for LNR Partners.

Workout Statistics

Modifications
4
Foreclosures
11
Bankruptcies
3
Extensions
0
Note Sales
0
DPOs
1
REOs
6
Deed in Lieu
0
Full Payoffs
0

Current Status

Active Deals
40
Resolved
33
Returned
32
Pending Return
1
Most Recent Transfer
5/7/2025
Most Recent Return
1/27/2025

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 LNR Partners, highlighting their approach to managing distressed CMBS assets.

Due to drop in occupancy cash flow has declined and is not significant to cover debt service and operating expenses. The Borrower has indicated they do not have funds to carry the property, so willing to cooperate with the lender to take back

WFCM 2016-C37
2025-05-29
1140 Avenue Of The Americas
American Realty Capital New York City REIT, Inc.

Due to drop in occupancy cash flow has declined and is not significant to cover debt service and operating expenses. The Borrower has indicated they do not have funds to carry the property, so willing to cooperate with the lender to take back

JPMCC 2016-JP4
2025-05-29
1140 Avenue Of The Americas
New York City Operating Partnership L.P.

Loan transferred SS on 5/18/23 for imminent default due to cash flow issues. Borrower has stopped funding shortfalls. Lender filed foreclosure and will continue to discuss alternatives with Borrower.

JPMCC 2016-JP4
2025-05-29
Riverway
Adventus Holdings LP

The Borrower and Special Servicer wish to enter into the consensual appoint of a Receiver for the Property and an immediate modification of section 2.7.2 Cash Management Account. Draft Settlement Agreement has been sent to Borrower and

CSAIL 2017-C8
2025-05-28
Hotel Eastlund
Desmond Mollendor

5/12/2025 - Loan transferred to Special Servicer on 2/14/2025 due to delinquent payments. Loan is due for the 12/6/2024 payment. Borrower stated that at time of origination, the Property was 100% leased but not 100% occupied due to multiple units still needing to be inspected and approved by the veteran administration as well as the elevator not being operable. Tenants started moving into the Property in December 2024 and the Property currently has 26 units occupied out of 37 (70% occ). Borrower provided a proposal to reinstate the Loan which Lender is reviewing. Borrower and Loan Guarantor triggered full recourse pursuant to the Loan Agreement due to failure to pay the first four (4) consecutive Monthly Payments following the closing of the Loan. Counsel was retained and Lender is reviewing enforcement remedies while continuing discussions with the Borrower and Loan Guarantor. The Property is a Class A midrise apartment building totaling 37 units in Washington, DC built in 2024. The subject is part of the HUD-VASH Program, a partnership between the U.S Department of Housing and Urban Development (HUD) and the Department of Veteran Affairs. The subject is 100% leased to veterans

BMARK 2024-V11
2025-05-28
Cunningham Apartments
Jesyl Crowdy-Cunningham

"5/5/2025 - Loan transferred SS for borrower''s non-cooperation with the cash management provisions and imminent payment default with JPM vacating their space at LXP 7/31/24. The Property is a mixed use building on W 86th St with ground floor retail and 1 3 multi-family units. The retail space has been dark since covid. Borrower has signed the PNL and believes they have supplied all amounts to the lockbox that Wells Fargo has requested. Asset is for sale and lease and has had growing interest in the space with some lease proposals. Borrower has engaged an advisor who has signed the PNL. Borrower signed the new tenant, a dispensary, without Lender consent and has triggered full recourse Lender will continue trying to enforce the loan documents while dual t racking remedies and a potential workout with the borrower."

GSMS 2020-GSA2
2025-05-23
Upper West Side Mixed-Use
Michael Herzog

The Loan transferred on 12/17/2020 due to payment default stemming from the COVID-19 pandemic. Lender has performed a books and records inspection and is pursuing a foreclosure strategy. Receivership hearing occurred on 11/22/2022 and the order appointing a receiver was entered by court on 1/25/2023. Borrower filed a notice of appeal regarding the receivership order. Special Servicer filed a pre-motion conference request to obtain leave to file for summary judgment. Motion for summary judgment has been fi led and fully briefed. On May 25, 2023, lender's motion for summary judgment was granted. Proposed computation of amounts due was fully briefed. Special Servicer awaits for court's adjudication and

MSC 2018-H3
2025-05-01
Portfolio (3 MU properties)
Edmond Li

The loan transferred to Special Servicing effective 9/10/2024 for imminent non monetary default. The subject is a 1,156,393 SF suburban office complex comprised of five office buildings located in Westchester, IL, built in 1986 and renovated in 2016. As of March 2025, the subject is 57.8% leased, down from 64.9% leased in February 2025. This is compared to YE 2023 and YE 2022 leased occupancies of 67.1% and 71.3%, respectively. The decrease in occupancy from February to March is due to the Property's largest tenant signing an amendment to reduce their footprint by nearly 65%, while extending the term on their remaining premises by 7.5 years. A site inspection was completed in November and noted the Property is in good condition with no observed defer red maintenance. One of three pari passu loans. Discussions with the Borrower regarding a potential loan modification are ongoing.

MSC 2018-H3
2025-05-01
Westbrook Corporate Center
Raymond Massa

4/11/2025 - The loan transferred to special servicing for payment default on 10/9/2024. Property is an 881 unit multi-family complex in Houston, TX southwest of George Bush Airport in Greenpoint. Property experienced damage during the Wind Storm in May 20 24 and Beryl in July 2024. Borrower has been using funds to pay for capital repairs. Property is ~70% occupied. Lender will continue workout discussions with the borrower while dual tracking foreclosure. Lender is filing for a

BBCMS 2023-5C23
2025-05-01
Rockridge Apartments
Dr. Fercan E. Kalkan

4/11/2025 - The Loan transferred on 02/14/2025 due to Delinquent Payments after Borrower failed to make the December 2024 Payment. Borrower has not yet submitted a proposal to Lender to address the payment default. Loan does not have a lockbox in place; h owever, the Loan Documents note springing provisions. Collateral is a 6-unit walk-up low-rise multifamily property located in Philadelphia, PA. Built in 1928, and renovated in 2023, the Property is improved with two, four-story buildings totaling 6,700 sq . ft. and situated on a 0.07 acre site. The unit mix consists of a 1BR/1BA unit (16.7% of Units) and five 2BR/2BA bi-level units (83.3% of Units). Borrower continues to be unresponsive and no proposal to address the payment default has been received to da te. BOVs are on hold as brokers have expressed the need for recent property-level information to provide opinions of value. Consulting with counsel on legal options.

BBCMS 2023-5C23
2025-05-01
919-921 Lombard Street
Abe Cohen
* 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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