Monday, May 18, 2015

Biker Gang Shootout exposure

The Waco shootout occurred at Twin Peaks*, which is part of the complex that includes the Central Texas Marketplace, but is not actually part of the collateral as far as we can tell.

Central Texas Marketplace secures a $45.4mm loan in WBCMT 2007-C31. The loan has a 1.93x DSCR and was appraised for $78mm in 2003.Occupants include Belk, Kohl's, Sports Authority.

There is smaller loan, also named Central Texas Marketplace that is in an outparcel in the same complex, but on the opposite side from the shooting. It is collateral for a $2mm loan in GCCFC 2006-GG7, valued at $2.65mm in 2006, and a 2014 1.34x DSCR. Occupants include Squires, David's Bridal.

*Twin Peaks is a breastaurant that is in an outparcel that is not part of the collateral.


1 comment:

crabsofsteel said...

Just brilliant. This is what CMBS research should be about.