Non-Performing Note Sale: Tower View Apartments | Receiver in Place

Starting Bid: December 16th, 2026

Brokered by JLL and powered by RealINSIGHT Marketplace, the offering is a non-performing first mortgage loan secured by Tower View Apartments at 380 West Main Street in Waterbury, Connecticut, a mixed-use building with 49 residential units and 6 ground-floor commercial spaces. The note carries an unpaid principal balance of $3,551,665, and the buyer steps into the lender position with remedies already in motion: a Notice of Default was issued in May 2026, a foreclosure complaint seeking a receiver was filed in July 2026, and a court-appointed receiver now controls the property. Built in 1910 and renovated in 2024, the four- to five-story brick building offers 38,750 SF of rentable area across 17 studios, 28 one-bedroom units, 4 two-bedroom units and 7,700 SF of retail, served by an elevator on a 0.34-acre CBD-zoned site. Occupancy was 94.5% as of March 31, 2025, and the ground-floor retail adds a second income stream beyond the apartments. The loan was originated in June 2022 to fund the acquisition, carries a 3.52% fixed rate on a 30-year amortization and matures in June 2029. Downtown Waterbury is an established urban market anchored by hospitals, major employers, schools and universities, giving the note buyer a potential path to title at a significant discount to replacement cost.To view similar notes currently for sale, see the links below.Non-Performing Note Sale: Mark Twain Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Johnson Street Apartments | Receiver in Place | RI MarketplaceNon-Performing Note Sale: Willard Street Apartments | Receiver in Place | RI Marketplace

Court-Appointed Receiver Already In Place: Property sits in a submarket with strong multifamily fundamentals and an average vacancy near 6%.

Potential Path To Ownership At A Discount: Non-performing Loan offers a potential path to title at a significant discount to replacement cost.

Strong Submarket Multifamily Fundamentals: Property sits in a submarket with strong multifamily fundamentals and an average vacancy near 6%.

Strategic Urban Location With Connectivity: Hospitals, major employers, schools and universities sit within walking distance or a transit ride.

Starting Bid: $800,000