A $54 million loan on a Playa Vista office portfolio landed in special servicing after the borrower, brothers Simon and Daniel Mani missed payments, according to Morningstar Credit and Trepp. The commercial mortgage-backed securities debt has an October 2029 maturity date but was three months delinquent, as of early April, per Morningstar and Trepp. The latest special servicer commentary via Morningstar noted the lender and borrower are in talks to determine if they can reach a modification or a forbearance, but the lender is looking at other resolution strategies. The Mani brothers said the lender has approved loan modifications, the […]
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