Tuesday, February 9, 2016

CSMC 2007-C1: one mod wasn't good enough for you? 7.1% retransfers to special

Transaction: CSMC 2007-C1
Property: Cityplace – A & B Note
City/State: West Palm Beach, FL
Property Type: Mixed Use
Balance: $150,000,000 ($50,000,000 B Note) 
Percentage of Deal: 7.1%
Modified Maturity Date: December 11, 2018
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Monetary Default 
On Servicer Watchlist Prior to Transfer: Yes, 7/13/2015
Previously in Special Servicing: Yes
Previously Modified: Yes; Maturity Extension; Split into an A&B Note; Rate Change

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