Tuesday, June 27, 2017

WBCMT 2005-C21: 38.9% already extended for two years going to maturity default

Transaction: WBCMT 2005-C21
Property: Metropolitan Square 
City/State: Saint Louis, MO       
Property Type: Office
Balance: $124,144,153
Percentage of Deal: 38.92%
Modified Maturity Date: August 11, 2017
MS: Wells Fargo
SS: Wells Fargo Bank, N.A
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes; 06/11/15
Previously in Special Servicing: Yes; Returned to Master Servicer 3/21/13
Previously Modified: Maturity increased by 24 periods until 08/2017. 

IO period extended. Rate changes over time

Wednesday, June 21, 2017

BSCMS 2006-PW16: 24.4% not watchlisted, not in special servicing, maturity defaults

Transaction: BSCMS 2007-PW16
Property: Shops at Northern Boulevard
City/State: Long Island City, NY
Property Type: Retail
Balance: $35,961,324
Percentage of Deal: 24.36%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: No
Previously in Special Servicing: No
Previously Modified: No

BACM 2007-5: 7.8% heads to special

Transaction: BACM 2007-5
Property: 4000 Wisconsin Avenue
City/State: Washington, DC
Property Type: Office
Balance: $53,000,000
Percentage of Deal: 7.84%
Maturity Date: April 1, 2018
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Monetary Default
On Servicer Watchlist Prior to Transfer: Yes, 05/04/17
Previously in Special Servicing: No
Previously Modified: No

Thursday, June 15, 2017

CSMC 2008-C1: No wonder there's a new team of originators at CS ... 22.2% goes into special

Transaction: CSMC 2008-C1
Property: Killeen Mall
City/State: Killeen, TX
Property Type: Retail
Balance: $82,000,000
Percentage of Deal: 22.23%
Maturity Date: July 11, 2017
MS: Berkadia
SS: C-III Asset Management LLC
Reason for Transfer: Potential/Imminent Default
On Servicer Watchlist Prior to Transfer: Yes, 05/11/17
Previously in Special Servicing: No
Previously Modified: No

Wednesday, June 14, 2017

LBUBS 2007-C6: Newark NJ office, 4.6% of pool, goes into special servicing

Transaction: LBUBS 2007-C6
Property: 707 Broad Street
City/State: Newark, NJ
Property Type: Office
Balance: $42,000,000
Percentage of Deal: 4.56%
Maturity Date: September 11, 2017
MS: Wells Fargo
SS: LNR Partners
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 01/11/16
Previously in Special Servicing: No
Previously Modified: No

BSCMS 2007-PW17: Let's shortfall the AJ a little more, shall we?

Transaction: BSCMS 2007-PW17
Property: City Center Englewood
City/State: Englewood, CO
Property Type: Retail
Balance: $33,000,000
Percentage of Deal: 2.92%
Maturity Date: August 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 05/08/17
Previously in Special Servicing: No
Previously Modified: No

Friday, June 9, 2017

CSMC 2007-C5: 6.8% on the watchlist for only a month before imminent maturity default. Oops!

Transaction: CSMC 2007-C5
Property: Mesilla Valley Mall
City/State: Las Cruces, NM
Property Type: Retail
Balance: $54,000,000
Percentage of Deal: 6.75%
Maturity Date: July 11, 2017
MS: Berkadia
SS: KeyCorp Real Estate Capital Markets, Inc.
Reason for Transfer: Imminent Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 05/11/17
Previously in Special Servicing: No
Previously Modified: No

Wednesday, June 7, 2017

WBCMT 2007-C33: Independence Center, 17.3% of the pool, becomes less independent, goes to special

https://commercialobserver.com/2017/06/200m-loan-on-simon-property-groups-missouri-mall-heads-to-special-servicing-trepp/

Thursday, June 1, 2017

MSC 2007-TOP27: The hits keep on coming ... another 5.2% goes to the special servicer

Transaction: MSCI 2007-TOP27
Property: Residence Inn - Herndon
City/State: Herndon, VA
Property Type: Hotel
Balance: $26,500,000
Percentage of Deal: 5.16%
Maturity Date: June 1, 2017
MS: Wells Fargo
SS: C-III Asset Management LLC
Reason for Transfer: Maturity Default
On Servicer Watchlist Prior to Transfer: Yes, 02/08/16
Previously in Special Servicing: No
Previously Modified: No