Tuesday, August 4, 2015

JPMCC 2005-LDP4: Is Vonage vacating or downsizing?

Transaction:  JPMC 2005-LDP4
Property: 23 Main Street
City/State: Holmdel, NJ
Property Type: Office
Balance: $28,820,415    
Percentage of Deal: 3.89%
Maturity Date: September 1, 2018
MS: Berkadia Commercial Mortgage
SS: C-III Asset Management, LLC
Reason for Transfer: Imminent Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

This is the Vonage corporate headquarters, so something has to have happened.  Cheaper quarters in Newark?  Patersen?

1 comment:

crabsofsteel said...

Same deal, different loan ... vups!

Transaction: JPMC 2005-LDP4
Property: Grand Canyon Parkway
City/State: Las Vegas, NV
Property Type: Retail
Balance: $21,114,783
Percentage of Deal: 5.05%
Maturity Date: August 1, 2015
MS: Midland Loan Services
SS: C-III Asset Management, LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 5/10/11
Previously in Special Servicing: No
Previously Modified: No