BSCMS 2007-PW18: Bear Stearns, we miss you! 6.9% goes into special.

Transaction: BSCMS 2007-PW18
Property: Marriott Houston Westchase
City/State: Houston, TX 
Property Type: Hotel
Balance: $72,658,828
Percentage of Deal: 6.91%
Maturity Date: November 1, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 09/08/15
Previously in Special Servicing: No
Previously Modified: No 

MSC 2008-T29: 2.8% term defaults. Hablas espanol?

Transaction: MSC 2008-T29
Property: Reparto Metropolitano
City/State: Rio Piedras, PR
Property Type: Retail
Balance: $20,578,702
Percentage of Deal: 2.80%
Maturity Date: January 1, 2018
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default 
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

JPMCC 2007-LD12: 4.7% says Happy Bastille Day!

Transaction: JPMCC 2007-LD12
Property: Bentley Mall
City/State: Fairbanks, AK
Property Type: Retail
Balance: $27,017,784
Percentage of Deal: 4.72%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 11/08/16
Previously in Special Servicing: No
Previously Modified: No

WBCMT 2005-C21: 38.9% already extended for two years going to maturity default

Transaction: WBCMT 2005-C21
Property: Metropolitan Square 
City/State: Saint Louis, MO       
Property Type: Office
Balance: $124,144,153
Percentage of Deal: 38.92%
Modified Maturity Date: August 11, 2017
MS: Wells Fargo
SS: Wells Fargo Bank, N.A
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 06/11/15
Previously in Special Servicing: Yes; Returned to Master Servicer 3/21/13
Previously Modified: Maturity increased by 24 periods until 08/2017. 
IO period extended. Rate changes over time

BSCMS 2006-PW16: 24.4% not watchlisted, not in special servicing, maturity defaults

Transaction: BSCMS 2007-PW16
Property: Shops at Northern Boulevard
City/State: Long Island City, NY
Property Type: Retail
Balance: $35,961,324
Percentage of Deal: 24.36%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

BACM 2007-5: 7.8% heads to special

Transaction: BACM 2007-5
Property: 4000 Wisconsin Avenue
City/State: Washington, DC
Property Type: Office
Balance: $53,000,000
Percentage of Deal: 7.84%
Maturity Date: April 1, 2018
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 05/04/17
Previously in Special Servicing: No
Previously Modified: No

CSMC 2008-C1: No wonder there's a new team of originators at CS ... 22.2% goes into special

Transaction: CSMC 2008-C1
Property: Killeen Mall
City/State: Killeen, TX
Property Type: Retail
Balance: $82,000,000
Percentage of Deal: 22.23%
Maturity Date: July 11, 2017
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Potential/Imminent Default
On Servicer Watchlist Prior to Transfer: Yes, 05/11/17
Previously in Special Servicing: No
Previously Modified: No

LBUBS 2007-C6: Newark NJ office, 4.6% of pool, goes into special servicing

Transaction: LBUBS 2007-C6
Property: 707 Broad Street
City/State: Newark, NJ
Property Type: Office
Balance: $42,000,000
Percentage of Deal: 4.56%
Maturity Date: September 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 01/11/16
Previously in Special Servicing: No
Previously Modified: No

BSCMS 2007-PW17: Let's shortfall the AJ a little more, shall we?

Transaction: BSCMS 2007-PW17
Property: City Center Englewood
City/State: Englewood, CO
Property Type: Retail
Balance: $33,000,000
Percentage of Deal: 2.92%
Maturity Date: August 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 05/08/17
Previously in Special Servicing: No
Previously Modified: No

CSMC 2007-C5: 6.8% on the watchlist for only a month before imminent maturity default. Oops!

Transaction: CSMC 2007-C5
Property: Mesilla Valley Mall
City/State: Las Cruces, NM
Property Type: Retail
Balance: $54,000,000
Percentage of Deal: 6.75%
Maturity Date: July 11, 2017
MS: Berkadia
SS: KeyCorp Real Estate Capital Markets, Inc.
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 05/11/17
Previously in Special Servicing: No
Previously Modified: No

WBCMT 2007-C33: Independence Center, 17.3% of the pool, becomes less independent, goes to special

https://commercialobserver.com/2017/06/200m-loan-on-simon-property-groups-missouri-mall-heads-to-special-servicing-trepp/

MSC 2007-TOP27: The hits keep on coming ... another 5.2% goes to the special servicer

Transaction: MSCI 2007-TOP27
Property: Residence Inn - Herndon
City/State: Herndon, VA
Property Type: Hotel
Balance: $26,500,000
Percentage of Deal: 5.16%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 02/08/16
Previously in Special Servicing: No
Previously Modified: No

CWCI 2007-C3: Wachovia strikes again! 7% goes into special servicing

Transaction: CWCI 2007-C3
Property: Sheraton Suites - Wilmington, DE
City/State: Wilmington, DE
Property Type: Hotel
Balance: $34,116,613
Percentage of Deal: 6.99%
Maturity Date: June 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 09/11/12
Previously in Special Servicing: No
Previously Modified: No

CGCMT 2007-C6: 4.1% walks down the Miracle Mile

Transaction: CGCMT 2007-C6
Property: Miracle Mile Shopping Center
City/State: Monroeville, PA 
Property Type: Retail
Balance: $59,600,000
Percentage of Deal: 4.08%
Maturity Date: June 1, 2017
MS: Berkadia 
SS: CWCapital Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 03/06/17
Previously in Special Servicing: No
Previously Modified: No 

MSC 2007-IQ14: City View Center is resolved. Morgan Stanley eats some crow.

Long story short: City View Center ($84MM) was built on top of two landfills with a methane remediation system that did not work. Walmart moved in, it stank, Walmart moved out, and the borrower defaulted. The special servicer sued MSMC for repurchase, which has been kicking around in the courts for several years. From their comment below from this month's remittance, it appears that the case has been settled.


The Special Servicer, acting on behalf of the Noteholder/Trust, and Morgan Stanley Mortgage Capital Inc.('MSMC') have reached an agreement to settle in full the Trust's litigation relating to alleged breaches by MSMC of representation and warranty ma de to the Trust at the time of securitization. The settlement to the Trust of cash in the amount of $62.5 million has been completed and funded. Settlement terms include, among other standard terms, no admission of wrongdoing by either party and full mutual releases. The loan is now being marketed for sale.

GSMS 2007-GG10: Two-day double header! 19.1% goes back into special servicing

Transaction: GSMS 2007-GG10

Property: 400 Atlantic Street

City/State: Stamford, CT

Property Type: Office

Balance: $265,000,000

Percentage of Deal: 19.07%

Maturity Date: June 6, 2017

MS: Wells Fargo

SS: C-III Asset Management LLC

Reason for Transfer: Imminent Maturity Default

On Servicer Watchlist Prior to Transfer: Yes, 07/06/16

Previously in Special Servicing: Yes, Returned to Master Servicer on 06/09/16

Previously Modified: No

GSMS 2007-GG10: What's another 2% of crap when you're already shorting the AJ?

Transaction: GSMS 2007-GG10

Property: CitiFinancial

City/State: Fort Mill, SC

Property Type: Office

Balance: $27,700,000

Percentage of Deal: 1.99%

Maturity Date: April 6, 2017

MS: Wells Fargo

SS: C-III Asset Management LLC

Reason for Transfer: Maturity Default

On Servicer Watchlist Prior to Transfer: No

Previously in Special Servicing: No

Previously Modified: No

MSC 2007-IQ13: 57.7% goes to the potty

Transaction: MSC 2007-IQ13
Property: Gateway I
City/State: Newark, NJ
Property Type: Office
Balance: $85,215,767
Percentage of Deal: 57.7%
Maturity Date: April 5, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 01/09/17
Previously in Special Servicing: Yes; Returned to Master Servicer on 07/18/11

GSMS 2007-GG10: 3.3% of this benchmark deal goes fishin'

Transaction: GSMS 2007-GG10
Property: Rosemont Commons
City/State: Fairlawn, OH          
Property Type: Retail
Balance: $55,500,000
Percentage of Deal: 3.33%
Maturity Date: June 6, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 03/06/17
Previously in Special Servicing: No
Previously Modified: No

 

BACM 2005-2: 18.3% says I sucked before and now even moreso

Transaction: BACM 2006-2

Property: Oklahoma Retail Center Portfolio

City/State: Oklahoma City and Edmond, OK

Property Type: Retail

Balance: $21,110,133

Percentage of Deal: 18.33%

Modified Maturity Date: May 1, 2017

MS: Berkadia

SS: C-III Asset Management LLC

Reason for Transfer: Imminent Default

On Servicer Watchlist Prior to Transfer: Yes; 07/03/14

Previously in Special Servicing: Yes, Returned to Master Servicer on 06/19/14

Previously Modified: Yes; Maturity extended for one year until 05/2017, IO period extended, interest rate reduced to a current rate of 5%