Thursday, October 30, 2014

One Congress Street: I'm baaack!

Even though it was on the tape as an office property it's mostly a parking garage.  Any ideas for an alternative use for a parking garage?

Transaction: WBCMT 2007-C30
Property: One Congress Street
City/State: Boston, MA
Property Type: Mixed Use
Balance: $190,000,000
Percentage of Deal: 2.80%
Original Maturity Date: March 11, 2014
MS: Wells Fargo
SS: CWCapital Asset Management, LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: Yes
Previously Modified: Yes; Maturity extended to February 2016 and interest rate reduced


crabsofsteel said...

Empyrean? Sounds like a front for Ezra Beyman (of the 70/30 A/B note modified Empirian loans in MLMT 2007-C1)!

Concrete Jungle said...

I just deleted that troll forever. He is in troll heaven now.

I don't know what the links go to that he kept posting, but it's got to be something bad so I'll just keep deleting them if they have nothing to do with CRE.

crabsofsteel said...

You are my fairy godmother. What do I do to get people posting on this blog? More funny pictures, it would seem.

Concrete Jungle said...

I don't know, really. Some posts, like "Epic Fail" has been viewed 48,838 times, but only has 2 comments. I think some of that viewership may be there to take the picture, so maybe there is something to that.

But, I don't think the lack of comments indicates lack of readership, but perhaps the readers are just less witty and outspoken;-).

crabsofsteel said...

What a surprise! It looks like this loan is going to get defeased (according to Roger).

crabsofsteel said...

No, wait, it's One Summer Street which is getting defeased, not One Congress.

theOh said...

I'm a big fan. Keep on posting. And more often if possible.