BSCMS 2005-PWR7: a modified loan = 43.37% of the collateral goes back to the special servicer. Happy New Year!

Transaction: BSCM 2005-PWR7
Property: Shops at Boca Park
City/State: Las Vegas, NV
Property Type: Retail
Balance: $49,231,871
Percentage of Deal: 43.37%
Maturity Date: February 11, 2016
MS: Wells Fargo
SS: C-III Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 1/5/15
Previously in Special Servicing: Yes
Previously Modified: Yes; Maturity date extension and a note rate reduction
 

MLCFC 2007-5: $48MM in losses write down Class D

It looks as if the Fort Henry Mall, a loan just under $40MM in this deal, was liquidated at a loss of ... $40MM.  A couple of other smaller loans contributed another $8MM in losses.  For those who follow this blog (and I realize that you are few but interested in this market sector), I repeat what I have previously stated.  MLCFC = P.O.S.!

(see last month's post on this deal where another $55MM transfers to special servicing)

JPMCC 2005-LDP5: just when you thought things were calm and bright, 3.9% goes barftastic!

Transaction: JPMC 2005-LDP5
Property: Raleigh Office Centre
City/State: Southfield, MI
Property Type: Office
Balance: $29,485,842
Percentage of Deal: 3.94%
Maturity Date: December 1, 2015
MS: Midland Loan Services
SS: CWCapital Asset Management
Reason for Transfer: The loan has matured or is maturing in 60 days
On Servicer Watchlist Prior to Transfer: Yes; 2/9/07
Previously in Special Servicing: No
Previously Modified: No
 

CWCI 2007-C3: 1.7% term defaults

Transaction: Cobalt 2007-C3
Property: Lynnhaven North Shopping Center
City/State: Virginia Beach, VA
Property Type: Retail
Balance: $24,140,000
Percentage of Deal: 1.69% 
Maturity Date: June 11, 2017
MS: Wells Fargo
SS: CWCapital Asset Management
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 10/14/14
Previously in Special Servicing: No
Previously Modified: No

Transaction: PCMT 2003-PWR1
Property: Brandywine Office Building & Garage
City/State: Wilmington, DE
Property Type: Office
Balance: $29,060,894
Percentage of Deal: 100%
Modified Maturity Date: May 1, 2020
MS: Wells Fargo
SS: C-III Asset Management 
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes; 6/4/15
Previously in Special Servicing: Yes
Previously Modified: Yes; Maturity Extension; Rate Adjustment; Principal Forgiveness