$21.7 Million Non-Performing Loan | Memphis, TN

CREXI and Jones Lang LaSalle (“JLL”) are pleased to offer for sale a $21.7 million UPB non-performing loan (the “Loan”) secured by a deed of trust on a four-building office park (the “Collateral” or the “Property”) located in Memphis, TN. The 10-year, fixed-rate Loan with an original principal amount of $24,187,500 was originated in July 2019 and was transferred to special servicing in January 2024 due to payment default. The Loan is in advanced foreclosure stage, and as of March 2025, the Loan is non-performing with an unpaid principal balance of $21,709,383.

The Collateral comprises four, four-story buildings constructed between 1998-2001, situated on an approximately 28.4-acre site as part of a larger office park. The 391,292-square-foot Property is currently 23.9% occupied as of March 2025; however, a tenant occupying 9,806 square feet will terminate their lease in July 2025, reducing the Property’s occupancy to 21.4%. The Property is located approximately 16 miles southeast of the Memphis central business district and sits just south of Poplar Avenue (US-72), the traditional route to and from Memphis.