Friday, January 20, 2017

WBCMT 2007-C30: A maturity default doubleheader!

Transaction: WBCMT 2007-C30
Property: Oak View Plaza
City/State: Omaha, NE
Property Type: Retail
Balance: $25,583,137.46
Percentage of Deal: 1.22%
Maturity Date: January 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management, LLC
Reason for Transfer: Balloon Payment/Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 03/11/11
Previously in Special Servicing: No
Previously Modified: No

Transaction: WBCMT 2007-C30
Property: Tyco International Building
City/State: Eatontown, NJ
Property Type: Office
Balance: $29,828,314.84
Percentage of Deal: 1.43%
Maturity Date: January 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management, LLC
Reason for Transfer: Balloon Payment/Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 10/11/16
Previously in Special Servicing: No
Previously Modified: No 

Thursday, January 19, 2017

MLCFC 2007-5: 7.8% maturity defaults? How can this be in a Merrill/Countrywide deal? (snark)

Transaction: MLCFC 2007-5
Property: Spectrum Commerce Center
City/State: Eagan, MN
Property Type: Office
Balance: $32,993,957
Percentage of Deal: 7.75%
Maturity Date: January 8, 2017
MS: Berkadia
SS: CWCapital Asset Management, LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 10/11/16
Previously in Special Servicing: No
Previously Modified: No

Tuesday, January 10, 2017

CSMC 2007-C1: Let's ring in the New Year with a 15% transfer to special servicing!

Transaction: CSMC 2007-C1
Property: Koger Center
City/State: Tallahassee, FL
Property Type: Office
Balance: $115,500,000
Percentage of Deal: 14.76%
Maturity Date: February 1, 2017
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Potential/Imminent Default   
On Servicer Watchlist Prior to Transfer: Yes, 11/14/16
Previously in Special Servicing: Yes; Returned to Master Servicer 4/10/13
Previously Modified: No

Friday, January 6, 2017

GSMS 2007-GG10: what's another 1% in default when your AJ is already short $24MM in interest?

Transaction: GSMS 2007-GG10 
Property: One Financial Plaza
City/State: Providence, RI         
Property Type: Office
Balance: $51,750,000
Percentage of Deal: 1.09%
Maturity Date: June 6, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 10/06/16
Previously in Special Servicing: No
Previously Modified: No

MSC 2007-T25: you know it's a special place when they spell it "Shoppes" ... 33.5% maturity defaults!

Transaction: MSC 2007-T25  
Property: Shoppes at Park Place
City/State: Pinellas Park, FL      
Property Type: Retail
Balance: $71,000,000
Percentage of Deal: 33.45%
Maturity Date: January 3, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 10/04/16
Previously in Special Servicing: No
Previously Modified: No

Tuesday, December 27, 2016

LBUBS 2007-C1: 3% in Vero Beach FL goes on a special servicing holiday!

Transaction: LBUBS 2007-C1
Property: CVS - Vero Beach
City/State: Vero Beach, FL
Property Type: Industrial 
Balance: $29,750,000
Percentage of Deal: 3.00%
Maturity Date: January 11, 2017
MS: Berkadia
SS: LNR Partners, Inc.
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 11/14/16
Previously in Special Servicing: No
Previously Modified: No