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 124 CMBS deals from this servicer's portfolio.

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Servicer Metrics

Key performance indicators and workout statistics for Rialto Capital Advisors.

Workout Statistics

Modifications
8
Foreclosures
27
Bankruptcies
10
Extensions
1
Note Sales
0
DPOs
1
REOs
9
Deed in Lieu
0
Full Payoffs
2

Current Status

Active Deals
47
Resolved
121
Returned
121
Pending Return
6
Most Recent Transfer
4/1/2025
Most Recent Return
3/5/2025

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 Rialto Capital Advisors, highlighting their approach to managing distressed CMBS assets.

4/11/2025 - The Loan transferred to Special Servicing on 10/8/2024 due to continuing non-compliance with lockbox activation. Borrower is uncooperative with establishing cash management. Special Servicer has began the process of foreclosing

BBCMS 2023-C22
2025-05-01
Westcreek Ii
Jarek Tadla

4/11/2025 - 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 is working through foreclosure process.

BBCMS 2023-C22
2025-05-01
100 Philips Parkway
Moshe Silber

4/11/2025 - The loan transferred to Special Servicing on 02/06/2024 due to payment default. Special Servicer has reached out to the Borrower to discuss next steps.

BBCMS 2023-C22
2025-05-01
Goldcoast Logistics
Jeff Pori

4/11/2025 - Loan recently transferred to Special Servicer for payment and non-monetary defaults. Special Servicer has reached out to Borrower who has executed the PNL. Counsel engaged to enforce CMA compliance. Lender accelerated the loan after 3 monthly payments missed in a row. Borrower has a proposed new tenant for retail space and proposal to reinstate; Lender is reviewing associated LOI and proposal.

MSC 2019-L2
2025-05-01
97 Second Avenue
Michael K. Shah

4/11/2025 - The Loan transferred to Special Servicing in 12/2023. A Hello Letter was sent and a PNL was executed. Special Servicer is in discussions with Borrower about a potential settlement.

MSC 2019-L2
2025-05-01
The Shops At Alden Bridge
Lawrence L. Kuppin

4/11/2025 - The Loan transferred to Special Servicing for Monetary Default at Borrower s request as a result of the COVID-19 pandemic. Special Servicer received approval for a forbearance and previously worked with the Borrower to close. Borrower did not close and has now filed for Chapter 11 bankruptcy protection. The Borrower has proposed a Chapter 11 plan of reorganization (The ''Plan'') to which the Lender objected. The parties concluded a Mediation on 10/6/2022 at which the parties agreed upon genera l terms of forbearance and repayment of arrearages making certain changes to the proposed Plan. The Court has approved the settlement and settlement and confirmed the bankruptcy plan as of March 28 2023. Borrower has agreed to monthly arrearages calculation. Borrower agreed to finalize CMA, but has not completed documentation; Lender counsel is engaged to ensure compliance. Lender has sent notice of default.

MSC 2019-L2
2025-05-01
Le Meridien Hotel Dallas
Nadir Badruddin

4/11/2025 - The Loan transferred to Special Servicing on 11/30/2023. Special Servicer is working with Borrower to reconcile Excess Cash related to tenancy of Koh''ls in order to return file to MS. Borrower continues to otherwise perform under

COMM 2019-GC44
2025-04-28
The Elston Retail Collection
Warren H. Baker

4/11/2025 - 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

COMM 2019-GC44
2025-04-28
55 Green Street
Sacks Realty LLC

Loan has recently transferred to SS. Borrower indicated they would consent to engage in an orderly transition of the collateral back to the Lender. A Receiver has been appointed. Working with the Receiver to stabilize the asset and begin the

GSMS 2018-GS9
2025-03-25
Pin Oak North Medical Office
Norman Livingston

Complaint for foreclosure and appointment of receiver was filed on 2/14/25; litigation is ongoing.

GSMS 2018-GS9
2025-03-25
90 Fifth Avenue
Michael Fuchs
* 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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