If you are a serious CMBS investor, it should have long ago dawned on you that there are
certain deals/shelves that just flat out suck. LBUBS is one of them, MLCFC is another,
CSMC ranks right up there. To be fair, there are other deals such as MSC 2008-T29 which
would make you look like a genius if you bought them early on.
Here is today's proof of the pudding.
Transaction: LBUBS 2007-C6 Property: Greensboro Park City/State: McLean, VA Property Type: Office Balance: $108,926,767 Percentage of Deal: 5.85% Maturity Date: June 11, 2015 MS: Wells Fargo SS: LNR Partners Reason for Transfer: Imminent Balloon Payment Default On Servicer Watchlist Prior to Transfer: Yes Previously in Special Servicing: Yes Previously Modified: Yes; Maturity Date Extension