Thursday, December 1, 2016

CD 2007-CD4: 1.7% Sunset Mall heads off into the sunset

Transaction: CD 2007-CD4
Property: Sunset Mall
City/State: San Angelo, TX
Property Type: Retail
Balance: $27,993,382
Percentage of Deal: 1.65%
Maturity Date: December 6, 2016
MS: Midland Loan Services
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 09/07/16
Previously in Special Servicing: No
Previously Modified: No

Monday, November 28, 2016

CGCMT 2007-C6: another 1.8% down the hole

Transaction: CGCMT 2007-C6
Property: Crossroads Marketplace
City/State: Chino Hills, CA
Property Type: Retail
Balance: $63,000,000 
Percentage of Deal: 1.81%
Maturity Date: April 6, 2017
MS: Midland Loan Services 
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 08/06/12
Previously in Special Servicing: No
Previously Modified: No

BACM 2007-2: youpee! Where do I begin? 11.3% goes back to special.

Transaction: BACM 2007-2
Property: Connecticut Financial Center
City/State: New Haven, CT
Property Type: Office
Balance: $ 70,000,000 (A-Note) & $60,400,000 (B-Note)
Percentage of Deal: 11.3%
Maturity Date: March 1, 2017
MS: Berkadia
SS: CWCapital Asset Management, LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 11/04/16
Previously in Special Servicing: Yes; Returned to the Master Servicer 1/17/14
Previously Modified: Yes; Hope Note Created, Interest Rate Reduced Year 1 and 2

Monday, November 21, 2016

LBUBS 2007-C2: 2.3% goes into special servicing. Not good when the AJ is the bottom class.

Transaction: LBUBS 2007-C2
Property: Citicorp Meridian ID
City/State: Meridian, ID
Property Type: Office
Balance: $31,442,800
Percentage of Deal: 2.30%
Maturity Date: April 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Monetary (Balloon/Maturity) Default
On Servicer Watchlist Prior to Transfer: Yes, 11/14/16
Previously in Special Servicing: No
Previously Modified: No

CSMC 2007-C1: Whatever a Pinnacle at Tutwiler is, 3.8% transfers to special.

Transaction: CSMC 2007-C1
Property: Pinnacle at Tutwiler
City/State: Trussville, AL
Property Type: Retail
Balance: $48,515,172
Percentage of Deal: 3.80%
Maturity Date: December 11, 2016
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Potential/Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 10/13/15
Previously in Special Servicing: No
Previously Modified: No

Tuesday, November 8, 2016

MSC 2006-IQ12: Wheeoops! 10% says mty default

Transaction: MSC 2006-IQ12
Property: Gateway Center IV
City/State: Newark, NJ  
Property Type: Office
Balance: $57,111,536
Percentage of Deal: 10.10%
Maturity Date: November 1, 2016
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Maturity Default 
On Servicer Watchlist Prior to Transfer: Yes, 07/08/15
Previously in Special Servicing: Yes; Returned to Master Servicer 3/18/15

Previously Modified: No 

Thursday, November 3, 2016

GCCFC 2007-GG9: Bonjour, another 4% maturity default

The deal sucks less than GG10, but it is trying hard to catch up!

Transaction: GCCFC 2007-GG9
Property: Boulevard Mall
City/State: Amherst, NY
Property Type: Retail
Balance: $92,393,224
Percentage of Deal: 3.96%
Maturity Date: February 6, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 12/07/15
Previously in Special Servicing: No
Previously Modified: No 

CGCMT 2007-C6: On the road to suck, another 3.5% goes into special

Transaction: CGCMT 2007-C6
Property: Greensboro Corporate Center
City/State: Mclean, VA
Property Type: Office
Balance: $122,888,098
Percentage of Deal: 3.50%
Maturity Date: June 6, 2017
MS: Midland Loan Services 
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default 
On Servicer Watchlist Prior to Transfer: Yes, 06/06/13
Previously in Special Servicing: No 
Previously Modified: No