CMBS Investors Take Total Loss on $48MM Loan as 103,000 SQFT of San Francisco’s 1155 Market Sells for $8MM

The $48 million CMBS loan on the lower eight floors of 1155 Market Street has been liquidated with nothing returned to principal, after the former city-leased office space sold for about $8.1 million and liquidation costs consumed most of the proceeds, wiping out two bond classes in COMM 2016-CR28 and nearly all of a third.