Mount Street - Special Servicer
Specializing in loan workout solutions, Mount Street offers comprehensive servicing for complex commercial real estate transactions. We are tracking 4 CMBS deals from this servicer's portfolio.
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Servicer Metrics
Key performance indicators and workout statistics for Mount Street.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 Mount Street, highlighting their approach to managing distressed CMBS assets.Loan transferred to Special Servicing on 3/22/2023 for imminent monetary default. Subject loan is secured by a 75,372 SF free-standing retail building located in Lincolnshire, IL with fee simple ownership interest but encumbered by a development agreement . Sole tenant, Regal Cinemas, filed bankruptcy in September 2022, and the lease was subsequently rejected through the bankruptcy proceedings. Tenant occupied and paid rent on the space through February 2023 and has since vacated. Loan subsequently default ed on monthly payments in April 2023; PNA was executed with the Borrower, and a NOD was issued. Receiver was appointed for the property in August 2023. Foreclosure sale occurred on 2/18/2025, with the Trust being the successful bidder. Deed transfer was completed on 5/22/2025 following delays with the court.
* Commentary dates (asof) represent when the special servicer made the comment.
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CMBS Special Servicing Commentary
Special servicing commentary extracted from sec.gov Form 10-D filing servicer reports.