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 131 CMBS deals from this servicer's portfolio.Servicer Metrics
Key performance indicators and workout statistics for Rialto Capital Advisors.Workout Statistics
Modifications
13Foreclosures
41Bankruptcies
2Extensions
0Note Sales
2DPOs
3REOs
34Deed in Lieu
0Full Payoffs
5Current Status
Active Deals
53Resolved
133Returned
132Pending Return
2Most Recent Transfer
6/1/2026Most Recent Return
6/3/2026Recent 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.💬 Servicer Commentary
2026-06-30
Portfolio (2 Retail properties)
Barrett Patel
Receivership ("Keepership") efforts are currently being put in-place for the New Orleans property. Claims were submitted in 10/2025 with appropriate Louisiana courts. Borrower raised defenses on Lenders petition to appoint a Keeper. Lender filed a supplental petition for foreclosure and the court has granted the Lender's motion for leave to file the amended foreclosure petition. Lender is awaiting formal entry of the signed order, which will trigger service on the Borrower and commence the Borrow er's answer period.Lender is communicating with counsel, and is discussing the potential of filing for a Receiver at the Texas Property.
💬 Servicer Commentary
2026-06-30
Walgreens Tumwater
Myles P. Friel
The Loan transferred to special servicing on 9/26/2024 due to the Borrower's failure to comply with cash management. A draft modification agreement was circulated to the Borrower for review and execution; however, Borrower subsequently became non- responsive to Special Servicer's attempts to finalize the agreement. The Borrower responded to Special Servicer in February 2026 and re-commenced working with Special Servicer and counsel to finalize the modification agreement. As of April 2026, Special Servicer's counsel circulated a draft modification agreement to the Borrower that reflects certain changes requested by the Borrower. Special Servicer anticipates execution and funding of the agreement to
💬 Servicer Commentary
2026-06-29
Knights Road Shopping Center
Norman Cahan
6/11/2026 - Borrower has supplied requested materials (support for syndication of Borrower Org Chart amongst other items) to effectuate Guarantor Change/Equity Transfer as a result of Guarantor''s death for review. Documents are being
💬 Servicer Commentary
2026-06-29
Portfolio (5 Retail properties)
Yehuda Cohen
6/11/2026 - Special Servicer has been pursuing legal recourse for the five collateral Properties located in three jurisdictions: Georgia, Michigan, and Puerto Rico. The Georgia Property was sold to a third-party at the foreclosure sale.On the two Michigan Properties, lender obtained Receiverships in August 2025. Anticipate that the two Michigan properties to sell in 2026 as they have been listed for sale by the Receiver. Foreclosure has been filed on the two Puerto Rico NNN Walgreens.
💬 Servicer Commentary
2026-06-29
The Atrium
Robert J. Fena
6/11/2026 - Loan is currently in payment default as of the September 2025 monthly payment. Special Servicer anticipates dual tracking the workout of the Loan as Borrower has not provided any proposals to date. Special Servicer is seeking approval of appoi ntment of receiver and of foreclosure proceedings. Awaiting results of title search.
💬 Servicer Commentary
2026-06-26
D.C. Area Portfolio Upper Tier JV L.P.
The loan is collateralized by International Square which is composed of three interconnected, twelve-story office buildings containing a total of 1,167,866 square feet of net rentable area located at 1825-1875 I Street Northwest & 1850 K Street North west, Washington DC. It is a conjoined multi-office building with a central food court built in the 1986 and renovated later in 2005. Building amenities include a tenant-only fitness center, rooftop terrace, ground floor retail, lower-level casual dining concourse, childcare and banking facilities. Additionally, there is an underground parking garage with 613 spaces. A termination notice from the Federal Reserve Board for the various suites expiring in 2029 was received in April 2026. As a result, the loan was transferred to special servicing effective 5/7/2026. Special Servicer has retained counsel and initiated discussions with the Borrower.
💬 Servicer Commentary
2026-06-26
Robert B. Sachs
Borrower has indicated its intent to pay off the Loan on the July payment date. Special Servicer has ordered a payoff to send to Borrower.
💬 Servicer Commentary
2026-03-30
Howard Ruskin
Borrower has communicated intent to transition title to Lender. Special Servicer continues to pursue a foreclosure and/or deed in lieu strategy as of 2/2026.
💬 Servicer Commentary
2025-11-26
Eli Sternbuch
Loan transferred to special servicing for Imminent Monetary Default due to a major lease expiration in 10/2023; the tenant subsequently renewed in Q1 2023. The Loan is in cash management and payment current. Special Servicer is monitoring leasing activity and property performance and a lease approval request was approved. Borrower sold the Property and defeased the Loan on 10/22/2025.
💬 Servicer Commentary
2025-04-28
Wayne N. Browning: Simon Jonna
The loan transferred to Special Servicing on 7/27/2022 due to imminent monetary default and failure to comply with cash management implementation. A Cash Management Trigger Event occurred in Q4 2019 when Panera (21.6% NRA) went dark. A new buyer purchased the property and assumed the Loan in January 2025. Cash management implementation is being finalized. Special Servicer anticipates returning the Loan to the Master Servicer as a corrected mortgage loan.
* 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.
* 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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