Wells Fargo Moves to Auction Rockpoint's $806M Boston Office Tower
Wells Fargo has scheduled an October 20, 2026 foreclosure auction for 100 Summer Street, a 32-story, roughly 1.3-million-square-foot Boston Financial District office tower owned by Rockpoint Group, per an auction notice from Sullivan & Sullivan Auctioneers reported by the Boston Globe, The Real Deal, and Banker & Tradesman. Rockpoint paid $806 million for the tower in 2019 against a $470 million Wells Fargo mortgage; the building, now 72% leased, carries a current municipal assessment of roughly $425 million.
Why it matters
Described by market participants as the largest Boston office foreclosure auction in over a decade, the sale will produce a real, arm's-length transaction price for a large, partially-leased class-A gateway-city tower — a data point that appraisers, special servicers, and borrowers negotiating comparable office-loan workouts nationwide will immediately cite. It also shows that even a conservative roughly 58% loan-to-value structure at origination is no protection against a maturity or valuation-driven default once a market repricing is severe enough.
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