Thursday, April 20, 2017

CWCI 2007-C3: Chant means "song" in French. Buy this for a song!

Transaction: CWCI 2007-C3
Property: Chant Portfolio – Pool 2
City/State: Albuquerque, NM    
Property Type: Office
Balance: $22,814,577
Percentage of Deal: 3.93%
Maturity Date: June 6, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 02/11/15
Previously in Special Servicing: No
Previously Modified: No

Tuesday, April 18, 2017

BACM 2007-5: 3.1% hits the special servicing bid

Transaction: BACM 2007-5
Property: Blanton Commons
City/State: Valdosta, GA
Property Type: Multifamily
Balance: $27,410,637
Percentage of Deal: 3.10%
Maturity Date: August 1, 2017
MS: Berkadia Commercial Mortgage LLC
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Default
On Servicer Watchlist Prior to Transfer: Yes; 02/06/17
Previously in Special Servicing: No
Previously Modified: No
 

Friday, April 14, 2017

MLMT 2006-C1: 10.8% says Have a Nice Weekend

Transaction: MLMT 2006-C1
Property: Wachovia Center
City/State: Gainesville, GA        
Property Type: Office
Balance: $12,541,079
Percentage of Deal: 10.84%
Maturity Date: January 1, 2036
MS: Midland Loan Services 
SS: LNR Partners, Inc.
Reason for Transfer: Imminent default of the loan is anticipated (cure not likely)
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: Yes, 11/12/13
Previously Modified: No

Wednesday, April 12, 2017

MSC 2007-IQ16: 1.7% says an imminent goodbye

Transaction: MSCI 2007-IQ16
Property: Art Institute Student Housing
City/State: Pittsburgh, PA
Property Type: Multifamily
Balance: $23,629,185
Percentage of Deal: 1.65%
Maturity Date: August 8, 2017
MS: Berkadia Commercial Mortgage LLC
SS: LNR Partners, Inc.
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 7/8/16
Previously in Special Servicing: No
Previously Modified: No 

CWCI 2007-C2: The hits keep on coming! In this case, 3.3% of the deal

Transaction: COBALT 2007-C2
Property: Hampton Roads Research Quads I & III Portfolio
City/State: Hampton, VA
Property Type: Office
Balance: $22,350,000
Percentage of Deal: 3.30%
Maturity Date: April 1, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 1/11/17
Previously in Special Servicing: No
Previously Modified: No

LBUBS 2007-C2: Glad I don't own class AJ. 14% maturity defaults

Transaction: LBUBS 2007-C2
Property: Citicorp Louisville KY
City/State: Jeffersontown, KY
Property Type: Office
Balance: $33,512,500
Percentage of Deal: 7.12%
Maturity Date: April 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 1/11/17
Previously in Special Servicing: No
Previously Modified: No

Transaction: LBUBS 2007-C2
Property: Citicorp McLeansville NC
City/State: McLeansville, NC
Property Type: Office
Balance: $31,854,700 
Percentage of Deal: 6.77%
Maturity Date: April 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 1/11/17
Previously in Special Servicing: No
Previously Modified: No

JPMCC 2007-LDP12: Large Diversified Pool? You got it! 3.3% heads off into the sunset

Transaction: JPMC 2007-LDP12
Property: Valle Vista Mall
City/State: Harlingen, TX
Property Type: Retail
Balance: $40,000,000
Percentage of Deal: 3.34%
Maturity Date: May 10, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 2/9/17
Previously in Special Servicing: No
Previously Modified: No

MLCFC 2007-9: Oh when the saints go marching in, 3% goes into special servicing

Transaction: MLCFC 2007-9                  
Property: Bon Carre
City/State: Baton Rouge, LA
Property Type: Office
Balance: $36,571,850
Percentage of Deal: 2.97%
Maturity Date: April 8, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 1/9/17
Previously in Special Servicing: No
Previously Modified: No