Midland Loan Services - Special Servicer

Providing comprehensive servicing solutions, Midland specializes in managing CMBS portfolios and maximizing asset value. We are tracking 90 CMBS deals from this servicer's portfolio.

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Servicer Metrics

Key performance indicators and workout statistics for Midland Loan Services.

Workout Statistics

Modifications
5
Foreclosures
5
Bankruptcies
2
Extensions
0
Note Sales
0
DPOs
0
REOs
2
Deed in Lieu
0
Full Payoffs
6

Current Status

Active Deals
20
Resolved
59
Returned
57
Pending Return
2
Most Recent Transfer
6/1/2025
Most Recent Return
3/30/2025

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 Midland Loan Services, highlighting their approach to managing distressed CMBS assets.

6/11/2025 - Loan transferred to the Special Servicer on 05-09-2025, due to Delinquent Payments. The Loan is secured by a 4-story walk-up multifamily apartment building with 10 free market residential units in the Central Harlem neighborhood in New York, NY. Counsel is being retained and Lender will move forward with enforcement actions while continuing discussions with the Borrower

BBCMS 2023-5C23
2025-06-30
47 East 129th St
Salomon Smeke Saba
Prospectus ID: 26

6/11/2025 - The Loan transferred on 02/14/2025 due to Delinquent Payments after Borrower failed to make the December 2024 Payment. Loan does not have a lockbox in place; however, 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 un it (16.7% of Units) and five 2BR/2BA bi-level units (83.3% of Units). Borrower proposed a DPO. Based on the Sponsor''s take out loan term sheet for $62MM, a total of $2.3MM is allocated for the subject loan and property. Payoff and Bring Current statement s have been ordered. Awaiting current and historical property financials from the Borrower. Continuing discussions of possible alternatives to foreclosure with Borrower while simultaneously pursuing

BBCMS 2023-5C23
2025-06-30
919-921 Lombard Street
Abe Cohen
Prospectus ID: 31

6/11/2025 - 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 2024 and Beryl in July 2024. Borrower has been using funds to pay for capital repairs. Property was previously reported ~70% occupied. Borrower declared bankruptcy prior to implementation of the receiver. Lender will proceed via

BBCMS 2023-5C23
2025-06-30
Rockridge Apartments
Dr. Fercan E. Kalkan
Prospectus ID: 6

6/11/2025 - The Loan transferred to Special Servicing on 1/26/2024 for Imminent Monetary Default. The collateral is a single tenant property. Borrower remains committed to keep the loan current while focusing in leasing activity. Special Servicer is moni toring. Loan remains current as of May 2025. Loan does not meet DSCR threshold required under loan documents. The borrower is working on new leasing activity.

COMM 2019-GC44
2025-06-27
55 Green Street
Sacks Realty LLC
Prospectus ID: 9

"4/11/2025 - 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 neg otiating. Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."

BBCMS 2022-C16
2025-05-01
Prospectus ID: 2A2

"4/11/2025 - 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 neg otiating .Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."

BBCMS 2022-C16
2025-05-01
Prospectus ID: 2A5

"4/11/2025 - 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 neg otiating. Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."

BBCMS 2022-C16
2025-05-01
Prospectus ID: 2A8

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
Prospectus ID: 4

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
Prospectus ID: 3

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
Prospectus ID: 13
* 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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