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

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