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Dive Brief:
The $33 million loan for the 151-unit Brush Factory Lofts in Philadelphia was transferred to special servicing in August for payment default, according to a report that Trepp shared with Multifamily Dive earlier this month. 

The Rufo Cos. purchased the South Philadelphia building, once home to a paintbrush factory, from Sherwin-Williams in 2017, according to Philadelphia Magazine. The Rufo Cos., which did not respond to a request for comment, still owns the building, according to Yardi Matrix.

CWCapital Asset Management is the special servicer, according to Yardi Matrix. The loan is not scheduled to mature until November 2031. The property was appraised at $48.6 million at securitization in 2021.