Wednesday, October 18, 2017

WFCM 2012-LC5 : 13.7% goes into special

Transaction: WFCM 2012-LC5 
Property: Westside Pavilion (Transferred September 1, 2017) 
City/State: Los Angeles, CA 
Property Type: Retail 
Balance: $142,255,433 
Percentage of Deal: 13.66% 
Maturity Date: October 1, 2022 
MS: Wells Fargo 
SS: Rialto Capital Advisors, LLC 
Reason for Transfer: Imminent Monetary Default 
On Servicer Watchlist Prior to Transfer: No 
Previously in Special Servicing: No 
Previously Modified: No

Tuesday, October 10, 2017

MSC 2008-T29: PR Retail transfers to special. This didn't take very long

Transaction: MSC 2008-TOP29
Property: 65 Infanteria Shopping Center
City/State: Rio Piedras, PR
Property Type: Retail
Balance: $21,522,288
Percentage of Deal: 3.34%
Maturity Date: January 1, 2018 
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 05/08/17
Previously in Special Servicing: No
Previously Modified: No

Thursday, September 14, 2017

MSC 2006-T23: another "Other" transfer

Transaction: MSC 2006-TOP23
City/State: White Plains, NY
Property Type: Office
Balance: $20,775,368
Percentage of Deal: 26.06%
Maturity Date: June 1, 2018
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Other
On Servicer Watchlist Prior to Transfer: Yes, 04/05/17
Previously in Special Servicing: No
Previously Modified: No

Wednesday, September 6, 2017

BSCMS 2007-T28: Sept. 8, 2017, isn't that tomorrow? 24.5% goes into special servicing

Transaction: BSCMS 2007-TOP28
Property: Charleston Town Center
City/State: Charleston, WV
Property Type: Retail
Balance: $93,096,469
Percentage of Deal: 24.51%
Maturity Date: September 8, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 06/07/17
Previously in Special Servicing: No
Previously Modified: No

Tuesday, August 29, 2017

MSC 2007-IQ16: Another 19% transfers to special servicing for imminent maturity and covenant defaults

Transaction: MSC 2007-IQ16
Property: Bangor Mall
City/State: Bangor, ME
Property Type: Retail
Balance: $80,000,000
Percentage of Deal: 14.55%
Maturity Date: October 1, 2017
MS: Berkadia
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 02/08/16
Previously in Special Servicing: No
Previously Modified: No

Transaction: MSC 2007-IQ16
Property: Century XXI
City/State: Germantown, MD
Property Type: Office
Balance: $25,300,000
Percentage of Deal: 4.60%
Maturity Date: November 1, 2017
MS: Berkadia
SS: LNR Partners
Reason for Transfer: Covenant Default
On Servicer Watchlist Prior to Transfer: Yes, 09/09/13
Previously in Special Servicing: No
Previously Modified: No