BACM 2006-2: what have we here?

Not a deal I am very familiar with, but still notable as a 

non-watchlisted balloon default.

Transaction: BACM 2006-2
Property: Belk Headquarters     
City/State: Charlotte, NC
Property Type: Office
Balance: $34,645,000
Percentage of Deal: 1.99%
Maturity Date: April 1, 2016
MS: Berkadia Commercial Mortgage
SS: Torchlight Loan Services
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

JPMCC 2005-CB13: goes from 33% to 38% in specially servicing

Transaction:  JPMC 2005-CIBC13
Property: The Lakes at West Covina
City/State: West Covina, CA
Property Type: Office
Balance: $29,612,040
Percentage of Deal: 4.98%
Maturity Date: November 1, 2015
MS: Midland Loan Services
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 5/7/13
Previously in Special Servicing: No
Previously Modified: No

LBUBS 2006-C1: 5% transfers to special

Transaction: LBUBS 2006-C1
Property: River Valley Mall
City/State: Lancaster, OH
Property Type: Retail
Balance: $45,076,743
Percentage of Deal: 4.96%
Maturity Date: January 15, 2016
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 2/11/09
Previously in Special Servicing: No
Previously Modified: No

CSMC 2006-C4: Babcock & Brown again?

The big news today in case you are marooned on a desert island is that

Stuy Town sold for $5.4B, which should be enough to make senior 

bondholders whole with respect to principal and unpaid interest.  I 

think it's a pretty good deal all around (except if you were a mezz 

lender) in that Blackstone's cost is half the average market rate per 

apartment, and the rights of the non-market rate tenants are protected

for a number of years.

In the meantime, CS continued its love affair with bad multifamily 

lending.  Where are you,Andy Stone?  (answer: Petra Capital Mgmt)

Transaction: CSMSC 2006-C4
Property: Babcock & Brown FX 3
City/State: Various
Property Type: Multifamily
Balance: $52,230,067
Percentage of Deal: 1.76%
Modified Maturity Date: February 15, 2017
MS: KeyBank Real Estate Capital 
SS: C-III Asset Management LLC
Reason for Transfer: Borrower Bankruptcy
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: Yes
Previously Modified: Yes; Maturity Extension and Principal Forgiveness

MSC 2007-XLF: top loan=93% transfers back to special

mmmmpphh.

Transaction: MSC 2007-XLF
Property: HRO Hotel Portfolio
City/State: Various
Property Type: Hotel
Balance: $130,551,879
Percentage of Deal: 93.0%
Modified Maturity Date: October 9, 2015
MS: Midland Loan Services
SS: CWCapital Asset Management
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 7/9/15
Previously in Special Servicing: Yes
Previously Modified: Yes; Extended Maturity Date until October 2015