Namdar record not reassuring for Gateway
In 2024, mortgage foreclosure proceedings began for Gateway Center, the 1.5 million-square-foot office complex in downtown Pittsburgh. Wells Fargo Bank said in court documents that Hertz Gateway Center LP had neglected its duty to keep the property in “good and safe condition and repair.” The company also hadn’t paid the bills necessary to keep things running, with about 35 creditors on a list of shutoff notices. The high-profile property needed a white knight. On Tuesday, property manager CBRE confirmed someone had stepped in, purchasing the note for the $84 million ...