Monday, September 12, 2011

Met Park East ($79.7mm GSMS 2006-GG6) Modified

Barclays reported this Seattle office loan was extended to 11/2015 (from 11/2010), the borrower paid down $2mm of the note, $2mm into an T&I escrow account, an excess cash sweep will go into a rollover reserve, and the note will remain interest only at the original rate (5.54%).

They also noted the A2 should experience some extension risk... I'm getting a cost to the A2 of about 43 bps.

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