Transaction: LBUBS 2007-C2
Property: Northstar
City/State: Minneapolis, MN
Property Type: Mixed Use
Balance: $58,638,428
Percentage of Deal: 5.84%
Maturity Date: May 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 07/11/16
Previously in Special Servicing: No
Previously Modified: No
Monday, January 30, 2017
LBUBS 2007-C2: I liked this deal, Orix didn't. They were right. 5.8% about to default.
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2 comments:
ORIX didn't? how do you mean?
They were previously the special servicer who liquidated enough loans to wipe out everything below class AJ in a single month. Then they sold special servicing rights to LNR.
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