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!

Tuesday, February 21, 2017

MSC 2011-C2: 6.1% goes Bloop!

Transaction: MSC 2011-C2
Property: Towne West Square Mall
City/State: Wichita, KS
Property Type: Retail
Balance: $46,919,219
Percentage of Deal: 6.07%
Maturity Date: June 1, 2021
MS: Berkadia
SS: Strategic Asset Services
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

Friday, February 10, 2017

GCCFC 2007-GG9: 2.8% about to maturity default, reported after the Feb. remittance came out

Transaction: GCCFC 2007-GG9
Property: Verizon Wireless Center
City/State: Albuquerque, NM
Property Type: Office
Balance: $22,306,607
Percentage of Deal: 2.81%
Maturity Date: March 6, 2017
MS: Wells Fargo 
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 12/06/16
Previously in Special Servicing: No
Previously Modified: No

Friday, February 3, 2017

MLCFC 2007-6: Another day, another transfer. 1.9% about to maturity default.

Transaction: MLCFC 2007-6
Property: 777 East 12th Street
City/State: Los Angeles, CA      
Property Type: Retail
Balance: $20,982,216
Percentage of Deal: 1.93%
Maturity Date: February 8, 2017
MS: Wells Fargo 
SS: CWCapital Asset Management, LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 10/11/16
Previously in Special Servicing: No
Previously Modified: No 


Thursday, February 2, 2017

CGCMT 2007-C6: 3.5% says "Oh, the heck with it"

Transaction: CGCMT 2007-C6
Property: Hyde Park Apartment Portfolio
City/State: Chicago, IL
Property Type: Multifamily
Balance: $111,880,700
Percentage of Deal: 3.53%
Maturity Date: April 1, 2017
MS: Wells Fargo
SS: CWCapital Asset Management, LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 01/06/15
Previously in Special Servicing: No
Previously Modified: No