Foreclosure is underway for the Jamison Properties-owned office building at 811 Wilshire Boulevard, after the landlord defaulted on debt connected to the property and a deal to sell it fell apart. Jamison had a buyer under contract to sell the property and pay off the loan, and it turned over a deposit to the lender, but the sale was terminated. The lender lawyered up and started foreclosure, according to the servicer’s comments in July and August, via Morningstar Credit. The lender is reviewing a modification proposal to the commercial mortgage-backed securities debt. The debt balance connected to the offices is […]
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