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os Angeles office landlord David Lee's Jamison Properties is facing financial difficulties with one of its properties. A $35.4 million commercial mortgage-backed securities loan tied to the 811 Wilshire Boulevard building was sent to special servicing on November 5 due to imminent default. The loan was set to mature the next day.

    The property, a 340,000-square-foot Financial District building, has struggled with low occupancy rates since an explosion in its basement in August 2015 injured four people and disrupted power in the area. Although insurance covered the damage, tenants continued to leave, and the building is now only 47% occupied. The largest tenant, the U.S. Social Security Administration, leases 37,272 square feet.

    "It's a very fluid market at the moment," said David Putro of Morningstar Credit. "Nobody is lending on a 47% occupied L.A. office building right now." This is not Jamison Properties' only financial struggle - it defaulted on an $86.5 million loan tied to Equitable Plaza in Koreatown last month and another property, 16530 Ventura Boulevard in Encino, went into special servicing in January.