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The second half of July brought news that several apartment properties moved into special servicing, while others had their values reduced.
Once again, Texas was at the epicenter of these transfers, though one property in Brooklyn, New York, is also facing challenges, according to a flurry of Morningstar reports.
Two Keener Investments properties in League City, Texas — Harbor Walk and The Shore — were transferred to special servicing after the Houston-based owner stated that it "could no longer come out of pocket for debt service and escrow shortages," according to a July 31 Morningstar report.
The properties are still listed on Keener's website. It did not reply to a request for comment from Multifamily Dive.
#july #texas #servicing
The second half of July brought news that several apartment properties moved into special servicing, while others had their values reduced.
Once again, Texas was at the epicenter of these transfers, though one property in Brooklyn, New York, is also facing challenges, according to a flurry of Morningstar reports.
Two Keener Investments properties in League City, Texas — Harbor Walk and The Shore — were transferred to special servicing after the Houston-based owner stated that it "could no longer come out of pocket for debt service and escrow shortages," according to a July 31 Morningstar report.
The properties are still listed on Keener's website. It did not reply to a request for comment from Multifamily Dive.
#july #texas #servicing
3 months ago
