Deal Name: 2003-C2
LNR Takes Philly Office Space in Foreclosure
Commercial Real Estate Direct Staff Report LNR Partners has taken through foreclosure 370,310 square feet at 801 Market St. in Philadelphia, which serves as collateral for a matured $36 million CMBS loan. The Miami special servicer had been handling the ...
Sale of N.J. Office Complex Nets $22.4Mln Loss for CMBS Deal
Commercial Real Estate Direct Staff Report The Morris Business Campus, a 329,850-square-foot office complex in Morris Plains, N.J., has been sold to JMF Property Group for $6.3 million. The property, at 1000, 1100 and 1200 The American Road, had been ...
Moody’s Downgrades GECMC 2003-C2, CSFB 2003-C4, CGCMT 2005-C3, BACM 2005-3 and CGCMT 2005-EMG
Following is a list of recent downgrades by Moody's Investors Service: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Notes GE Commercial Mortgage ...
CMBS Trust Sells Bloomington, Minn., Office Property
Minneapolis/St. Paul Business Journal LNR Partners, acting as special servicer for Greenwich Capital Commercial Funding Corp., 2003-C2, has sold the Minnesota Center in Bloomington, Minn. An investment fund managed by Transwestern paid $31 million, or about $110/sf, for the 280,835-square-foot ...
Las Vegas Shopping Center Gets Appraised at Fraction of CMBS Loan Balance
Commercial Real Estate Direct Staff Report The Boulevard Mall, a shopping center in Las Vegas, has been appraised at a value of $52.8 million, which compares with the $97.1 million balance of a CMBS loan that had encumbered it. The ...
Boulevard Mall in Vegas Hits Sales Market
The following item has been edited to change the appraisal date to 2009. Vegas Inc. Midland Loan Services has placed the 1 million-square-foot Boulevard Mall in Las Vegas on the sales market. The property, which is being offered through CBRE, ...
Hotel Owner-Operator Looks for Debt Maturity Extensions
By John Covaleski,Commercial Real Estate Direct Staff Writer Two months after obtaining a two-year extension on $95.9 million of debt that matured earlier this year, hotel owner-operator Windsor Capital Group has obtained a short-term extension for $83.8 million of debt, ...
Fitch: 3 Classes of GMAC 2003-C2 on Rating Watch Negative
The recent transfer of a $44.7 million loan to special servicing has prompted Fitch Ratings to place three classes of GMAC Commercial Mortgage Securities Inc., 2003-C2, on rating watch negative.The loan is backed by the River Oaks West Apartments, with ...
Fitch Downgrades 1 Class of GE 2003-C2, Places 4 on Watch
The transfer of a $63.4 million collateral loan to special servicing has prompted Fitch Ratings to downgrade the $8 million class BLVD-5 of GE Commercial Mortgage Corp., 2003-C2, to BB+ from BBB-. The rating agency also placed four of the ...
MOODY’S CMBS UPGRADES
Deal Name CurrentPoolBal. $mln Orig.PoolBal $mln Class Size$mln Moody'sNewRating Moody'sOldRating Reason for Rating Action GE Capital Commercial Mortgage Corp., 2003-C1 1,040.0 1,190.0 D 25.3 Aaa Aa1 Increased subordination; defeasance (30.5 percent of pool) - - - E 16.3 Aa2 ...
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