New allegations tied to a mortgage fraud scandal that rocked the industry and landed an executive in federal prison now implicate JPMorgan, the lender on the deal, and the borrower — New York’s Chetrit Group. Wells Fargo, which filed suit in federal civil court as trustee on a $481 million CMBS loan, alleges JPMorgan knew
Just six weeks after developer Brandon Miller’s alleged suicide, a lender who financed several of his development projects is claiming his widow must pay the $3.6 million balance on a $5 million loan — and that she knew about the debt for almost two years. The lender, Donald Jaffe, and his affiliated retirement trust entered Candice
Fred Seigel’s firm looks like it’s fed up with its floating interest rate on a massive Chicago office tower loan. His Boston-based Beacon Capital Partners’ $370 million commercial mortgage-backed securities loan moved to special servicing in recent weeks, a sign the borrower is likely to default on the debt tied to the 1.2 million-square-foot skyscraper
The jumbo loan backed by Times Square Plaza, an office tower in the heart of Midtown, transferred to special servicing this month for imminent maturity default after its owner failed to lock down new financing. Longtime landlord The Tamares Group started shopping for debt in January to replace the $365 million loan coming due in
Ahmed Abdallah, Deputy Chairperson of Redcon Properties, highlights the growing appeal of investing in commercial and administrative real estate. These property types offer higher returns on investment compared to other real estate categories. The value of commercial and administrative assets tends to appreciate more rapidly over time than residential properties. Notably, prices for these properties