Rialto Capital Advisors - Special Servicer
With a focus on distressed debt investments, Rialto offers strategic servicing solutions to unlock value and optimize performance. We are tracking 126 CMBS deals from this servicer's portfolio.
Servicer Metrics
Key performance indicators and workout statistics for Rialto Capital Advisors.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 Rialto Capital Advisors, highlighting their approach to managing distressed CMBS assets.Loan has recently transferred to SS, Lender sent out PNL and Borrower has signed the PNL. Lender working with the borrower to get the loan into compliance with the loan documents
The Loan transferred to Special Servicing on 11/30/2023. Counsel engaged. SS is pursuing CMA implementation while negotiating potential settlement agreements. Borrower entered into a modification agreement. Special Servicer is monitoring
The loan transferred to Special Servicing on 11/25/2024 due to payment default. Special Servicer has received approval to initiate the foreclosure process. Foreclosure complaint has been filed and motion to appoint a receiver is forthcoming. Borrower did not appose receiver motion. Appointment pending hearing or judge's signature.
Loan transferred for Imminent Monetary Default at Borrower's request as a result of the COVID-19 pandemic. A Reinstatement Agreement was executed in September 2022 and the Loan was brought current. Special Servicer is monitoring performance and lea se up, including the non-collateral former Von's space which is estimated to be back-filled by June 2025. Borrower is also working on obtaining refi given the upcoming maturity on 8/11/2025. Borrower has provided leasing
The property became REO in May 2025 via foreclosure (still pending recorded deed). Colliers was appointed as Receiver and transitioned into property manager following foreclosure. The property is 100% occupied. Special Servicer is evaluating
7/11/2025 - The Loan transferred to Special Servicing on 5/6/2024, due to Payment Default. Special Servicer has reached out to the borrower and is assessing next steps with the asset. Borrower has become non responsive, Lender is in the process of enforc ement. Borrower did not oppose receivership motion. Receiver was appointed 1/16/2025. Lender has received its judgement and will schedule the foreclosure sale. Lender reviewing options at the site.
7/11/2025 - The loan transferred to Special Servicing on 02/06/2025 due to payment default. Special Servicer has connected with the Borrower to discuss next steps. Borrower advised that they plan to maintain payment of debt service while seeking leasing and sale opportunities. Borrower has supported operating shortfalls.
7/11/2025 - Borrower remains non-compliant with cash management and reporting requirements. Foreclosure complaint was filed on 6/26/25.
7/11/2025 - The Loan transferred to Special Servicing on 10/8/2024 due to continuing non-compliance with lockbox activation and payment default. Borrower is uncooperative. Lender has retained counsel and is enforcing its rights and remedies
The loan transferred to special servicing following the filing of a lis pendens against the property. Additionally, the loan is in payment default, among other non-monetary defaults. Special servicer has filed a foreclosure complaint and receiver motion. Lender''s motion for a receiver was granted on 9/16/2024. Lender has filed its motion for summary judgment and a response from borrower was due 3/31/2025. Summary judgment was granted 4/23/2025. SS currently working to take title
* 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.