Commercial foreclosures to top $150 million in February


Nevada Title Co. reported 21 commercial foreclosures that were at least $2 million in February, totaling more than $150 million for the month.

WCP Las Vegas Lender purchased the trustee deed from VRP Summerhill Villas condos for $28 million and bought the deed from VRP Bayshore Club condos for $9 million.

Comerica Bank accepted a deed in lieu of foreclosure for 38 acres of vacant land. The transfer amount was $29 million; the seller was SAT Nevada.

Morgan Stanley refinanced a $500 million loan for CDW Logistics (storage); Citigroup Global Markets Realty refinanced $29 million for SSTI 1120 Las Vegas Blvd. South (warehouse); and Bank of America financed $26.8 million for Marnell Properties (commercial condominiums).

 

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