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Trimont Real Estate Advisors - Special Servicer

Offering a holistic approach to servicing, Trimont delivers expert solutions for managing and enhancing the performance of commercial real estate assets. We are tracking 2 CMBS deals from this servicer's portfolio.

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Recent Deals

BBCMS 2020-C8

CMBS
2020-10-06

GSMS 2018-GS10

CMBS
2018-07-12

Servicer Metrics

Key performance indicators and workout statistics for Trimont Real Estate Advisors.

Workout Statistics

Modifications
0
Foreclosures
0
Bankruptcies
0
Extensions
0
Note Sales
0
DPOs
0
REOs
0
Deed in Lieu
0
Full Payoffs
0

Current Status

Active Deals
0
Resolved
0
Returned
0
Pending Return
0
Most Recent Transfer
N/A
Most Recent Return
N/A

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 Trimont Real Estate Advisors, highlighting their approach to managing distressed CMBS assets.

The loan recently transferred to the Special Servicer for Imminent Monetary Default. The Largest tenant CFTC will be vacating. PNL has been executed and negotiations are in process with the Borrower. The loan remains current at this time. Borrower and Le nder are discussing a possible consensual receivership and leasing opportunities with current and new tenants. Lender is working on a lease review for tenant, MedStar.

GSMS 2017-GS7
2025-03-26
Lafayette Centre
None

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

GSMS 2017-GS7
2025-03-26
90 Fifth Avenue
Michael Fuchs

Loan transferred to special servicing on 12/3/24 due to imminent monetary default. The Sponsor is negotiating two major leases to backfill Big Lots (9.4% NRA) and Party City (4.8% NRA). The Sponsor proposed a loan modification which would enable the Sponsor to utilize reserves, property cash flow, and other sources to pay for tenant improvement allowances contemplated in the leases it is negotiating. Borrower advised it no longer wants to have dialogue about a potential loan

WFCM 2017-C41
2025-03-26
Columbia Park Shopping Center
Forest City Realty Trust, Inc.

The Loan was transferred to Special Servicing on 7/17/2020. The Lender took title via foreclosure on 6/8/2021. An REO auction occurred in August 2022 that failed to meet the Lender's reserve price. The Special Servicer replaced the existing propert y manager on 5/1/2023 with a local SRO-focused management company in order to facilitate a repositioning of the asset. A capital improvements plan was embarked upon and subsequently completed at the end of February 2025. The Special Servicer is now focused on leasing up the vacant residential units and the single vacant commercial suite.

WFCM 2018-C46
2025-03-26
2415 Mission Street
Jered Thomas Kenna

The Loan transferred for Imminent Monetary Default. PNL and Hello Letter have been sent to the Borrower. Borrower has signed the PNL and submitted due diligence. Receiver was appointed December 12, 2024. Borrower is presenting alternatives to Foreclosure, Lender will continue to review options while duel tracking foreclosure.

DBGS 2018-C1
2025-03-26
Time Square Office Renton
Sean Hashem

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

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 2017-GS8
2025-03-25
90 Fifth Avenue

Loan transferred for Imminent Default on 9/18/24. Collateral consists of a 667,446 NRSF, Class A commercial condominium unit ("Property"), which is comprised of office on floors 14 through 41 (638K SF) and ground floor retail (26K SF) within a 42-sto ry, 888,295 SF Class A office building on a 46,740 SF site. Floors 2 through 11 are a separate, non-collateral condominium unit that is currently occupied by Murray Hill Academy. Loan is currently due for 3/6/25. Borrower has requested a modification to reduce the interest rate for two years, defer the repayment of these amounts to Maturity, and change the priority of the Cash Management waterfall. Local counsel has been retained to file for foreclosure and/or receivership, if necessary. Lender is dual tracking the foreclosure process while discussing Borrower's request.

GSMS 2019-GC38
2025-03-25
3 Park Avenue
Charles Steven Cohen

Subject is a $940,000,000 note that is secured by a senior lien against a 47-story, 1,596,521 square foot, Class A multi-tenant office property located at 825 Eight Avenue in New York City. Note is due for the January 6, 2025 payment and matured on November 6, 2027. Collateral also includes 252,107 square feet of amenity space (restaurant and retail tenants). Capital stack includes mezzanine debt. The Cravath law firm lease expired on August 31, 2024 and the tenant vacated the collateral at said time. The Borrower does not have a replacement tenant. The loss of this tenant causes operating shortfalls for the September and subsequent waterfalls. Note was transferred to the special servicer on September 13, 2024 due to imminent default. Nomura has an early termination option date on July 1, 2025. Borrower has stated that it will not fund operating deficits. Legal counsel has been engaged and a PNA agreement has been executed. Modification terms have been proposed and accepted by the Borrower. Default notices were sent to the mezzanine lenders and they have not responded within the required 30-day window. Reserves were utilized to pay the September through December OPEX so the collateral is operational. Documenting modification terms with Borrowers. Appraisal is on order currently.

GSMS 2017-GS8
2025-01-22
Worldwide Plaza
* 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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