Monday, February 27, 2017

CD 2007-CD4: We have a winner! 11.1% of the deal transfers to special servicing

The 60 Charles Lindbergh Boulevard loan in CD 2007-CD4 ($55mn, 11.1% of the deal) was transferred to special servicing on January 19, 2017, due to imminent maturity default (loan was scheduled to mature on February 1, 2017). The subject loan is secured by an office property in Uniondale, NY. The subject is 100% subleased to Nassau County - Department of Health and Human Services with a lease expiration in 2021. The special servicer has indicated that the file is being reviewed to determine the workout strategy going forward. The most recent reported NCF DSC was 1.35x. (Source: S&P Global Ratings)

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