Tuesday, October 7, 2014

Bad CMBS deals only get worse

 
From the deal which brought you the dark Bank of America Tower in Atlanta comes this:

Transaction: JPMCC 2006-CIBC17
Property: Westfield Shoppingtown Independence
City/State: Wilmington, NC
Property Type: Retail
Balance: $110,000,000
MS: Wells Fargo
SS: CWCapital Asset Management, LLC
Reason for Transfer: Monetary Default

Oops!
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1 comment:

crabsofsteel said...

Lookie which loan just went 60 days delinquent in March. Foreclosure seems likely. 5% of a deal which is already shorting the AJ = not happy!

March 11, 2015 at 3:58 PM

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