Return to Lender, Week of Oct. 29, 2026

• Boston private equity firm Rockpoint Group, the owner of 100 Summer St., was the sole bidder at an auction for the property Tuesday, getting the32-story office tower in Boston’s Financial District back at a two-thirds discount from what it paid in 2019. Rockpoint bid $260 million, down from the $806 million it paid originally, according to the Boston Business Journal. Wells Fargo, which gave Rockpoint a $470 million mortgage in 2019, foreclosed on the property in September, triggering the auction.  

• The leasehold interest in a half-built office-to-residential conversion in Washington, DC’s Tenleytown has sold through a receivership process after its initial developer allegedly defaulted on a loan tied to the property, the Washington Business Journal reported. A D.C. Superior Court⁠ judge in May approved a plan for the court-appointed receiver to sell the 146-unit project at 4620 Wisconsin Ave. NW to BMC MFVA Fund I Acquisitions LLC. The sale closed on Oct. 16 and the leasehold was conveyed to Broadcast DC Owner LLC for $9.5 million. 

• The Washington Business Journal also reported that Worldgate Centre in Herndon, VA sold  for $28.2 million, nearly two years after the property’s owner essentially agreed to relinquish its stake in the AMC Theatres-anchored retail center. The winner of the foreclosure auction, held outside Fairfax County Circuit Court, was a representative for the 229,000-square-foot center’s largest secured creditor.  There were five other groups vying for the property, boosting the sale price during a volley of escalating bids from an opening of $15 million.  

• Morningstar Credit reported that The Essex ($117.0M | BMARK 2019-B14, BMARK 2019-B15 & COMM 2019-GC44 | CMBX.13) moved to special servicing after stating its inability to pay off the loan at its October 2026 maturity date. The loan is secured by a mixed-use property on Manhattan’s Lower East Side, part of the Essex Crossing development. The property is primarily residential but also includes a 65,000-square-foot Regal Cinemas. The entire debt stack includes two unsecuritized B-notes totaling $58.0 million and $40.0 million of mezzanine debt. With a total exposure of $215.0 million, the all-in debt yield is just 4.7% based on the servicer’s reported 2025 net cash flow. 

• The Grove City Premium Outlets ($140.0 million | Multiple Conduits) has reported an updated appraised value of $119.3 million, a 20% decrease from its 2025 value and a 53% decrease from its original appraised value of $255.0 million, reported Morningstar Credit. The Simon-owned outlet center in Grove City, OH moved to special servicing ahead of its December 2025 maturity date. It eventually landed a two-year forbearance that effectively pushed maturity to December 2027, with additional one-year extensions tied to NOI and debt-yield hurdles. It has remained in special servicing during the forbearance period but has remained current and performing under the terms of the forbearance. 

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