This deal is already being shorted to the AJ, largely thanks to the Stuy Town appraisal reduction.
Transaction: WBCMT 2007-C30
Property: Eastland Center
City/State: Harper Woods, MI
Property Type: Retail
Percentage of Deal: 0.55%
Maturity Date: October 11, 2016
MS: Wells Fargo
SS: CW Capital Asset Management
Reason for Transfer: Imminent Non-Monetary Default
On Servicer Watchlist Prior to Transfer: Yes
Previously in Special Servicing: No
Previously Modified: No
The loan matures in a year and a half. The watchlist comment says nothing about why a non-monetary default is imminent. Obviously, a mall built in 1957 is likely not attracting tier 1 tenants. Anyone feel like doing some research, or is it going to have to be me?
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