If you've just joined us in the CMBS world, you probably haven't heard of him. His cookie crumbled back in 2006 and assets were already being auctioned off by the time the next scandal, Michael B. Smuck (MBS Properties).
All of these have already completed the workout period with a weighted average loss severity of 63%:
|Deal Name||Loan Name||Orig. Balance||Loss||Loss Severity|
|CSFB 2001-CK3||French Quarters Apartments||$ 12,100,000||$ 9,555,744||79.0%|
|DLJCM 1999-CG1||Becker Village Mall||$ 11,344,000||$10,984,663||96.8%|
|DLJCM 1999-CG1||Marycrest Shopping Center (3)||$ 7,000,000||$ 3,027,912||43.3%|
|DLJCM 1999-CG1||Tiffany Square||$ 11,250,000||$ 277,172||2.5%|
|DLJCM 1999-CG2||211 South Gulph Road||$ 10,850,000||$ 5,732,768||52.8%|
|DLJCM 1999-CG2||Fashion Outlet Center||$ 8,650,000||$ 7,995,489||92.4%|
|DLJCM 1999-CG2||Highland Falls Apartments||$ 21,300,000||$16,824,596||79.0%|
|HFCMC 2000-P1||Mission Centre||$ 5,125,000||$ 820,526||16.0%|
Also, pretty certain there is no relation to Joseph Dwek, the legitimate NY-based real estate investor. The thought crossed my mind, but all of his loans are current, which is not how the shyster Dwek does business.