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 125 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.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
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.
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 lease 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 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.
6/11/2025 - The loan transferred to Special Servicing on 02/06/2024 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
6/11/2025 - 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. Lender has retained counsel and has began the
6/11/2025 - Borrower remains non-compliant with cash management and reporting requirements. Lender is evaluating litigation process.
6/11/2025 - 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.
Loan transferred for Imminent Monetary Default at borrower’s request as a result of the Covid-19 pandemic. Lender has filed a complaint with the intent to foreclose and a receiver was appointed on 8/23/2022. A foreclosure auction occurred on
"6/6/2025 - Loan has on 11/7/24 transferred to SS for payment default. We have reached out to the borrower concerning a PNL and they do not respond. We now have approval to foreclose and seek a court-appointed Keeper. Have engaged outside counse l and are initiating the approval process to foreclose and seek a Keeper."
* 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.