Transaction: COMM 2013-CR11
Property: iPark Hudson Buildings 4 & 5
City/State: Yonkers, NY
Property Type: Office
Balance: $21,899,905
Percentage of Deal: 1.76%
Maturity Date: September 6, 2023
MS: Midland Loan Services
SS: Situs Holdings, LLC
Reason for Transfer: Other
On Servicer Watchlist Prior to Transfer: Yes, 06/06/17
Previously in Special Servicing: No
Previously Modified: No
Wednesday, November 15, 2017
Wednesday, November 1, 2017
MSC 2008-T29: 14.5% goes belly-up
Transaction: MSC 2008-T29
Property: Shadow Lake Towne Center
City/State: Papillion, NE
Property Type: Retail
Balance: $78,647,507
Percentage of Deal: 14.51%
Maturity Date: November 1, 2017
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 06/07/17
Previously in Special Servicing: No
Previously Modified: No
Tuesday, October 31, 2017
GCCFC 2006-GG7: 25.8% goes back into special, not modified enough, it seems
The JP Morgan International Plaza I and II loan held in GCCFC 2006-GG7 ($158mn, 25.8%) was transferred to special servicing on October 20, 2017, due to the borrower expressing its inability to repay the loan at its upcoming February 6, 2018, maturity date. The loan is secured by a 757k sq. ft. office in Farmers Branch, TX—fully leased through February 28, 2018, to JP Morgan Chase, which has expressed its intent to vacate the property. There is no replacement tenant at present. The loan was previously corrected in 2016, which resulted in an extension of the loan’s original June 6, 2016, maturity date. At that time, there was uncertainty regarding JP Morgan Chase’s intention to stay at the property. (Source: S&P Global Ratings)
Wednesday, October 18, 2017
WFCM 2012-LC5 : 13.7% goes into special
Transaction: WFCM 2012-LC5
Property: Westside Pavilion (Transferred September 1, 2017)
City/State: Los Angeles, CA
Property Type: Retail
Balance: $142,255,433
Percentage of Deal: 13.66%
Maturity Date: October 1, 2022
MS: Wells Fargo
SS: Rialto Capital Advisors, LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No
Property: Westside Pavilion (Transferred September 1, 2017)
City/State: Los Angeles, CA
Property Type: Retail
Balance: $142,255,433
Percentage of Deal: 13.66%
Maturity Date: October 1, 2022
MS: Wells Fargo
SS: Rialto Capital Advisors, LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No
Tuesday, October 10, 2017
MSC 2008-T29: PR Retail transfers to special. This didn't take very long
Transaction: MSC 2008-TOP29
Property: 65 Infanteria Shopping Center
City/State: Rio Piedras, PR
Property Type: Retail
Balance: $21,522,288
Percentage of Deal: 3.34%
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: Yes, 05/08/17
Previously in Special Servicing: No
Previously Modified: No
Property: 65 Infanteria Shopping Center
City/State: Rio Piedras, PR
Property Type: Retail
Balance: $21,522,288
Percentage of Deal: 3.34%
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: Yes, 05/08/17
Previously in Special Servicing: No
Previously Modified: No
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