Monday, August 14, 2017

MSC 2007-IQ16: 6.1% of CA office goes to special, Remember, IQ stands for Intermediate Quality.

Transaction: MSC 2007-IQ16
Property: 20770-20810 Madrona Avenue
City/State: Torrance, CA
Property Type: Office
Balance: $33,453,891
Percentage of Deal: 6.09%
Maturity Date: August 8, 2017
MS: Berkadia
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 07/08/16
Previously in Special Servicing: Yes; Returned to Master Servicer 11/14/12
Previously Modified: No

Tuesday, August 8, 2017

GSMS 2006-GG8: Mods don't always help. 8.6% returns to special servicing

Transaction: GSMS 2006-GG8
Property: Algonquin Center
City/State: Algonquin, IL
Property Type: Retail
Balance: $28,600,000
Percentage of Deal: 8.63%
Modified Maturity Date: October 6, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 07/06/17
Previously in Special Servicing: Yes; Returned to the Master Servicer 06/09/17
Previously Modified: Yes; Term and IO period increased by 12 months

MLMT 2007-C1: 5.8% goes into special for imminent maturity default in June?

Transaction: MLMT 2007-C1
Property: Columbia/Brook Park MHC Rollup
City/State: Various, OH 
Property Type: Mobile Home Park
Balance: $55,000,000
Percentage of Deal: 5.77%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 03/08/17
Previously in Special Servicing: No
Previously Modified: No