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Borrower Defaults on Loan for Prominent Michigan Office Tower, New York Hotel Gets New Owner, Delinquencies Revised Lower

A Weekly Look at the Commercial Mortgage-Backed Securities Business
The Bridgewater Place office building on the right is attached to the taller River House at Bridgewater Place Condominiums in Grand Rapids, Michigan. (CoStar)
The Bridgewater Place office building on the right is attached to the taller River House at Bridgewater Place Condominiums in Grand Rapids, Michigan. (CoStar)

Borrower Defaults on Prominent Michigan Office Loan: One of western Michigan’s largest office properties has defaulted on its loan even as it has remained current on monthly payments.

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