Miami Gardens Apartments
In its monthly loan-level report to the SEC for the period ending October 13, 2026 (Form ABS-EE, filed October 29, 2026), Wells Fargo Commercial Mortgage Trust 2024-5C1 reported the loan secured by Miami Gardens Apartments in Houston, TX as now bank-owned (REO): the trust has taken title. In the trust's previous monthly report the loan was not in foreclosure, bankruptcy or REO.
This is the loan servicer's report, not a court record: it gives no case number, and it usually trails the underlying event by a month or two. Whether a foreclosure runs through a court depends on the state. CREdocket lists the property and the trust only, never the borrower.
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From the trust's Exhibit 102 asset data file (SEC Regulation AB, Schedule AL), compared with its previous month's file. Figures are as reported by the servicer. Not legal or investment advice. Something wrong here? Tell us and we will correct it.