Government Property Advisors Portfolio (3.6% LBUBS 2006-C7) transfers to the Special

Happened last month, I just missed it. Saw it in DB's report today. That makes three of the top 10 loans in LBUBS 2006-C7 deal gone to the special over the last two months.

Colony Square and Midtown Plaza transferred to Special (LBUBS 2006-C7 - $181mm combined)

Both Tishman-owned Atlanta GA office loans were slated to mature this month. Colony Square has a 0.81x DSCR and Midtown Plaza has a 0.54x DSCR (NCF DSCRs as of 1Q 11).

h/t Fitch and Barclays

Another AJ takes a shortfall

CSMC 2008-C1 AJ was hit with a shortfall in September. I think this makes for the 4th AJ shortfall?

LBUBS 2006-C7, GECMC 2007-C1, JPMCC 2008-C2, and now CSMC 2008-C1 - am I missing any?

Various Loan Updates

Barclays cranked out notes on a number of resolutions, modifications, and appraisals the last few weeks. I went back over the last few weeks and updated any that I missed or didn't post from elsewhere:

WBCMT 2007-C31 - Lembi Portfolio $142.5mm 9/14/11
AREA Properties purchased a portion of the portfolio (20 of the 29 properties) for $59.6mm. BCG estimates a 25% severity related to that purchase, and speculates that the purchase covers the 20 REO properties that accounted for $63mm of the original balance.

LBUBS 2006-C7 AJ takes a shortfall 8/17/11

MSC 2006-IQ12 - $250mm RREEF Industrial Portfolio to be sold. BCG anticipates the loan will be assumed. 8/17/11

BACM 2007-1 and BACM 2007-2 -- $325mm 575 Lexington Avenue. new appraisal is up 30%. See additional comments here. 8/16/11

GCCFC 2007-GG9 - $305mm Schron Portfolio appraised at $121.2mm 8/12/11


WBCMT 2004-C10 and WBCMT 2004-C11 - $500mm Starret-Lehigh refinanced. 8/11/11