Claros Mortgage forecloses on two Texas multifamily properties securing $118.1M non-accrual loan

Claros Mortgage Trust, Inc.

Foreclosure by wholly owned subsidiary on two multifamily properties in Texas completed July 1, 2025.
Loan had carrying value net of specific CECL reserves of $118.1M; was non-accrual and risk rated 5.
Borrowers are unaffiliated Park West and Cedar Springs entities; company now holds the properties.
Company intends to file historical and pro forma financial statements for the properties within 71 days.

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