Ash Street Place

Righting Performance Of A Missouri Multifamily Property

Following the property’s transfer to special servicing for payment default in November 2022, a receiver was appointed. By May 2023, the property was 87.5% occupied. In July 2023, defeasance closed on the loan and all default interest, late charges, and lender expenses were funded. The loan is now considered performing, and CW continues to work closely with the master servicer Wells Fargo and primary servicer Newmark to return the loan to Newmark as performing after the receiver is dismissed.