Monday, March 13, 2017

BSCMS 2007-T26: 27.9% of this bad boy transfers to special servicing

Transaction: BSCMS 2007-T26
Property: One AT&T Center
City/State: St. Louis, MO
Property Type: Office
Balance: $110,862,154
Percentage of Deal: 27.9%
ARD Date: January 1, 2017 & Maturity Date: January 1, 2037
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default 
On Servicer Watchlist Prior to Transfer: Yes, 10/04/16
Previously in Special Servicing: No
Previously Modified: No

Wednesday, March 8, 2017

CWCI 2007-C3: maturing in June but already going bye-bye?

Transaction: CWCI 2007-C3
Property: Zale Corporation Headquarters Building
City/State: Irving, TX
Property Type: Office
Balance: $38,537,967
Percentage of Deal: 3.87%
Maturity Date: June 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

MLCFC 2007-6: 3.8% gives it up

Transaction: MLCFC 2007-6
Property: 1001 Frontier
City/State: Bridgewater, NJ      
Property Type: Office
Balance: $37,950,000
Percentage of Deal: 3.80%
Maturity Date: March 8, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 12/08/16
Previously in Special Servicing: No
Previously Modified: No

GSMS 2007-GG10: A bad deal gets 0.7% worse

Transaction: GSMS 2007-GG10
Property: BPG Pennsylvania Properties
City/State: Various, PA
Property Type: Office
Balance: $24,640,000
Percentage of Deal: 0.72%
Maturity Date: May 6, 2017
MS: Wells Fargo
SS: C-III Asset Management 
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 02/06/17
Previously in Special Servicing: No
Previously Modified: No

CGCMT 2007-C6: For those who know French, BCBG means bon chic, bon genre! 1.2% goes kaput

Transaction: CGCMT 2007-C6
Property: BCBG Portfolio
City/State: Vernon, CA 
Property Type: Industrial
Balance: $34,603,903
Percentage of Deal: 1.21%
Maturity Date: March 1, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 01/06/15
Previously in Special Servicing: No
Previously Modified: No

Wednesday, March 1, 2017

CWCI 2007-C2: Cobalt not that hard. 2.7% says sayonara!

Transaction: CWCI 2007-C2
Property: Hunter Plaza
City/State: Irving, TX    
Property Type: Retail
Balance: $22,500,000
Percentage of Deal: 2.73%
Maturity Date: March 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default 
On Servicer Watchlist Prior to Transfer: Yes, 12/12/16
Previously in Special Servicing: No
Previously Modified: No


BACM 2007-3: Another day,another transfer, 3.6% heads off into the sunset

Transaction: BACM 2007-3
Property: Stonecrest Marketplace
City/State: Lithonia, GA
Property Type: Retail
Balance: $34,515,625
Percentage of Deal: 3.60%
Maturity Date: March 1, 2017
MS: Berkadia
SS: C-III Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 10/06/15
Previously in Special Servicing: No
Previously Modified: No

Monday, February 27, 2017

WBCMT 2007-C31: 1.5% of pool, a St. Louis hotel says Hallelujah

The St. Louis Marriott West loan in WBCMT 2007-C31 ($37mn, 1.5% of the deal) was transferred to special servicing on February 13, 2017, due to imminent maturity default. The loan, which is scheduled to mature on March 11, 2017 is secured by a full service lodging property located in St. Louis, MO. As of Sep. 2016, reported TTM NCF DSC and occupancy were 0.99x and 65.24%, respectively.

CD 2007-CD4: We have a winner! 11.1% of the deal transfers to special servicing

The 60 Charles Lindbergh Boulevard loan in CD 2007-CD4 ($55mn, 11.1% of the deal) was transferred to special servicing on January 19, 2017, due to imminent maturity default (loan was scheduled to mature on February 1, 2017). The subject loan is secured by an office property in Uniondale, NY. The subject is 100% subleased to Nassau County - Department of Health and Human Services with a lease expiration in 2021. The special servicer has indicated that the file is being reviewed to determine the workout strategy going forward. The most recent reported NCF DSC was 1.35x. (Source: S&P Global Ratings)

Friday, February 24, 2017

BACM 2007-2: A king among deals, 22.6% goes Boo-yah!

Transaction: BACM 2007-2
Property: Mall of Acadiana
City/State: Lafayette, LA
Property Type: Retail
Balance: $125,276,509
Percentage of Deal: 21.55%
Maturity Date: April 1, 2017
MS: Berkadia
SS: CWCapital Asset Management, LLC
Reason for Transfer: Potential/Imminent Default
On Servicer Watchlist Prior to Transfer: Yes, 01/04/17
Previously in Special Servicing: No
Previously Modified: No


This after taking $60MM in losses on an unpaid B-note this month. What a deal!