Nightingale has stopped paying investor distributions on 200 West Jackson Blvd., which it bought for $130M last year, backed by $25M in crowdfunded equity.
The sale of 1601 Washington Ave. may be part of the "substantial transaction" hinted at by CrowdStreet investor fiduciary Anna Phillips earlier this month.
The commercial real estate downturn has hit crowdfunded deals especially hard, and many investors say they regret believing sponsors' overhyped pitches.
Nakash Holdings, the family that owns Jordache Jeans, was ordered to produce docs by a bankruptcy judge.
Boom times for data center developers and retail developers, dark days for office and multifamily investors.
Formigle helped raise more than $4B for CrowdStreet's various offerings.
The suit could potentially unwind years of deals made on the online platform.
Philadelphia's largest office property at 1500 Market St. is set to be listed later this week. CBRE will market it as a potential conversion opportunity.
Regent Partners and Loudermilk Cos. never generated enough income to cover its debt service.
Many of these storylines, such as the data center pushback, will reverberate through 2026.
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