LBUBS 2005-C5: Space Net Building to now be called the Space Ghost Building

Transaction: BSCM 2006-PWR14
Property: Fountain Square
City/State: Brookfield, WI
Property Type: Retail
Balance: $39,250,000
Percentage of Deal: 2.19%
Maturity Date: October 1, 2016
MS: Wells Fargo
SS: C-III Asset Management, LLC
Reason for Transfer: Monetary Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

Transaction: LBUBS 2005-C5
Property: Space Net Building
City/State: McLean, VA
Property Type: Office
Balance: $30,670,643
Percentage of Deal: 4.26%
Maturity Date:  July 11, 2015
MS: Wells Fargo
SS: LNR Partners, Inc.
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 4/13/15
Previously in Special Servicing: No
Previously Modified: No

Space Net Building is a 137,000 sf single tenant office building located in McLean, VA, built in 1985.  04/07/2015:  The loan is on the WL because the lease to Space Net expires 03/31/2016 and for a pending loan maturity on 07/11/2015 .  The YE 2014 DSCR is 1.83x, compared to 1.78x at YE 2013.  Occupancy was 100% for both periods.  The borrower reported the renewal status is not yet settled, and that they expect to pay off the loan at the maturity date.now