Treasury par yields, Sept. 21 close (U.S. Treasury). SOFR, Sept. 21 (New York Fed).
This week: The loan on two Basking Ridge office buildings has a $50.9M scheduled balance, a listed $19.7M appraisal and negative NOI; the $100M loan on the Hyatt Regency Jersey City went to special servicing ahead of its Oct. 1 maturity; and bids were due today for the Whitewater Amphitheater portfolio in New Braunfels.
Signature Office Portfolio II: $50.9M scheduled balance, $19.7M appraisal
Signature Office Portfolio II: $50.9M scheduled balance. Its listed appraisal is $19.7M.
106 & 110 Allen Road, Basking Ridge, NJ · Office
- Owner
- Signature Acquisitions
- Loan
- $71.5M (2021) · 3.65%
- Trust
- MSC 2021-L7
- Status
- Receiver since July 2025
- Size
- 336,293 sf · two buildings
What happened. S&P downgraded MSC 2021-L7 after the collateral was reappraised sharply lower, according to a trade report published this month. The loan was the largest in the trust at issuance, 7.8% of the pool. It has been in special servicing since March 10, 2025, and a receiver took control of the buildings in July 2025. The August 17 trustee report shows it paid only through March 6, 2026, and more than 120 days delinquent.
The rest of the Sept. 22 issue opens Nov. 21, 2026.
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Five situations to track
- BankruptcyGuadalupe River Portfolio (Whitewater Amphitheater)New Braunfels, TX · Leisure/short-term rental
- ReceivershipRepublic PlazaDenver, CO · Office
- Receiver soughtX DenverDenver, CO · Multifamily/co-living
- ForeclosureMetropoint 300 & 400St. Louis Park, MN · Office
- Special servicingHyatt Regency Jersey CityJersey City, NJ · Hotel