CSMC 2006-C4: Credit Suisse never lost their talent for writing bad MF loans ... 2.3% goes into special servicing

Transaction: CSMC 2006-C4
Property: The Edge at Avenue North 
City/State: Philadelphia, PA
Property Type: Multifamily 
Balance: $52,695,682
Percentage of Deal: 2.32%
Maturity Date: October 1, 2016
MS: KeyBank Real Estate Capital
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 1/13/14
Previously in Special Servicing: No
Previously Modified: No

JPMCC 2006-LDP7: LDP supposedly meant Large Diversified Pool. But it really means Lots of Defaulting Poopie!

Transaction: JPMCC 2006-LDP7 & CD 2007-CD4
Property: JQH Hotel Portfolio
City/State: Multiple cities
Property Type: Hotel
Balance: $ 136,328,453
Percentage of Deal: JPMCC 2006-LDP7: 10.28% & CD 2007-CD4: 0.27%
Maturity Date: April 11, 2016
MS: Berkadia
SS: LNR Partners, Inc.
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 02/09/16
Previously in Special Servicing: No
Previously Modified: No
 

GSMS 2007-GG10: 1.8% transfers to special

Transaction: GSMS 2007-GG10
Property: State House Square
City/State: Hartford, CT
Property Type: Office
Balance: $87,550,000
Percentage of Deal: 1.77%
Maturity Date: February 6, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 01/06/16
Previously in Special Servicing: No
Previously Modified: No 

This is the benchmark legacy deal.  Class AJ is already being shortfalled interest.  2017 should be a very interesting year for holders of this class. 
 

MLMT 2007-C1: Ezra Beyman sends 23.5% of the pool back for more modification

Transaction: MLMT 2007-C1
Property: Empirian Multifamily Portfolio Pool 1 & Pool 3
City/State: Various
Property Type: Multifamily
Balance: $293,150,433 (Pool 1); $239,968,917 (Pool 3)
Percentage of Deal: 12.9% (Pool 1); 10.6% (Pool 3)
Maturity Date: June 12, 2017
MS: KeyBank Real Estate Capital
SS: C-III Asset Management LLC 
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: Yes; Returned to Master Servicer 2/28/2013
Previously Modified: Yes; IO period increased by 60 months, A & B Note created for pool 1 & 3, Rate changed.

A crap deal gets even worse.  These 2 loans were modified to create $215MM of B-notes which will almost surely lead to AJFX and AJFL writedowns.  Now, here's a question for all of you CMBS experts out there: does anyone understand why AJFX is receiving interest yet AJFL is not?  Answer in the comments section.

JPMCC 2006-CB15: a deal which already sucked now sucks 32% more

Transaction: JPMC 2006-CIBC15
Property: Warner Building
City/State: Washington, DC
Property Type: Office
Balance: $292,700,000
Percentage of Deal: 32.34%
Maturity Date: May 12, 2016
MS: Wells Fargo
SS:  LNR Partners, Inc.
Reason for Transfer: Imminent Balloon/Maturity Default
On Servicer Watchlist Prior to Transfer: Yes 
Previously in Special Servicing: No
Previously Modified: No

BACM 2007-1, JPMCC 2007-LDP10, GECMC 2007-C1: a 53/48% A/B note mod wasn't enough so they are back for more!

Transaction: BACM 2007-1, JPMCC 2007-LDP10, (GECMC 2007-C1 Not Rated by Fitch)
Property: Skyline Portfolio
City/State: Falls Church, VA
Property Type: Office
Balance: A Note: $350,000,000 & B Note: $328,000,000 (Not Rated: A Note: $105,000,000; B Note:$98,400,000)
Percentage of Deal: BACM 2007-1: 18.3%; JPMCC 2007-LDP10: 7.3%; GECMC 2007-C1: 8.9%
Modified Maturity Date: February 1, 2022
MS: KeyBank Real Estate Capital
SS: CWCapital Asset Management, LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; April 2015
Previously in Special Servicing: Yes; Returned to Master Servicer 2/28/2014
Previously Modified: Yes; Term and IO period increased by 60 months, New maturity modeled as Feb. 2022, A & B Note created.
 

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