Oak Street NLP $425MM Loan: Special Servicer's Report Says Modification Has Closed and Loan Returns to Master Servicer
The special servicer comment for one loan in a registered commercial mortgage-backed securities trust’s report for the 01/16/26 distribution date reads: “Loan transferred to SS on 3/25 due to default associated with properties with a total ALA representing over 40% of total ALA having been rejected in BK court.”
The same comment states: “The Loan is a $425MM 1st lien, fixed-rate, interest-only, mortgage loan.” It also states: “The Borrower entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level.”
It closes: “Modification has closed and loan will be returned to the Master in next 30 to 45 days.”
Sources & Citations
[1]
BBCMS Mortgage Trust 2023-C19 Form 10-D, Exhibit 99.1 distribution report (distribution date 01/16/26)
— SEC EDGAR (Computershare, certificate administrator)
· Jan 16, 2026
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Cite this entry
The Cascade Ledger. “Oak Street NLP $425MM Loan: Special Servicer's Report Says Modification Has Closed and Loan Returns to Master Servicer.” The Capture Cascade Timeline, January 16, 2026. https://capturecascade.org/event/2026-01-16--oak-street-nlp-425mm-loan-special-servicer-reports-modification-closed-return-to-master-edgar-10d/