Tuesday, July 5, 2016

WBCMT 2006-C25: 33% goes into default

Certainly not good for class AJ, AM, nor A4.

Transaction:  WBCMT 2006-C25
Property: Hercules Plaza            
City/State: Wilmington, DE
Property Type: Office
Balance: $65,106,036
Percentage of Deal: 33.54%
Maturity Date: April 11, 2018
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 2/11/16
Previously in Special Servicing: Yes
Previously Modified: Yes – Payment terms changed to interest only, maturity date
extension and implementation of a lock box.

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