Deal Name: 2005-C6

Commercial Real Estate Direct Staff Report Somerset Partners has acquired 450 Park Ave. in New York City for about $510 million, or $1,589/sf, a record high for U.S. real estate. As reported by the Wall Street Journal, Somerset, the New ...

Commercial Real Estate Direct Staff ReportIn a deal that could set a Manhattan record-high of $1,500/sf, 450 Park Avenue is becoming available for sale. The owner, a joint venture of New York Common Fund and Taconic Investment Partners, has chosen ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-1104.0030.002.6AAAAaa+9swapsA-2FX135.0030.004.7AAAAaa+23swapsA-2FL150.0030.004.7AAANA+12.5LiborA-3195.9430.007.4AAAAaa+36swapsA-4628.0030.009.7AAAAaa+30swapsA-M250.4620.009.9AAAAaa+35swapsA-J178.4512.889.9AAAAaa+42swapsB43.8311.139.9AAAa2+50swapsC28.1810.009.9AA-Aa3+53swapsD18.799.259.9A+A1+57swapsE25.058.259.9AA2+60swapsF31.317.009.9A-A3+70swapsG31.315.7510.0BBB+Baa1+113swapsH25.054.7510.0BBBBaa2+120swapsJ28.183.6310.0BBB-Baa3+195swapsK12.523.13NANABa1NAswapsL12.522.63NANABa2NAswapsM6.262.38NANABa3NAswapsN9.392.00NANANANAswapsO9.391.63NANANANAswapsP9.391.25NANANANAswapsQ31.310.00NANANANAswapsA-X2,504.59NANANAAaaNAswapsA-SPNANA5.4AAAAaa+75Treas*Notional amount, interest onlyCollateral balance: $2,504.59 million Bookrunner(s): Credit Suisse First Boston Lead Managers: Credit Suisse First Boston Co-managers: PNC Capital Markets, Keybanc Capital Markets, Greenwich Capital Markets and Nomura Securities InternationalB-piece Buyer: ING ClarionMaster Servicer: KeyCorp ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PFinalPricing (bp)BnchmarkA181.5624.715.94AAA+52.5swapsA280.0024.720.70AAA+55.5swapsA380.0024.724.40AAA+57swapsB16.4621.3026.32AA++60swapsC10.1619.1026.81AA-+65swapsD10.2717.0027.18A+75swapsE5.1315.9027.45A-+85swapsF9.7113.8027.71BBB++125swapsG9.7211.8028.04BBB+135swapsH55.990.029.11BBB+185swaps*Notional amount, interest onlyCollateral balance: $359 millionBookrunner(s): Lehman BrothersLead Managers: Lehman BrothersOriginators: Lehman (100 percent)Property Types: Office (100 percent)Largest Loans: $359 million mortgage backed by some 1.1 million square of office space on floors 22 through 44 ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-148.0020.002.58AAAAaaNAswapsA-1A513.0420.007.93AAAAaaNAswapsA-2184.5020.004.63AAAAaa+24swapsA-359.1020.006.88AAAAaa+35swapsA-435.5020.009.01AAAAaa+33swapsA-AB71.9020.006.95AAAAaa+28swapsA-5A792.7230.009.82AAAAaa+26swapsA-5B113.2520.009.89AAAAaa+31swapsA-J170.4412.509.98AAAAaa+35swapsB45.4510.509.98AAAa2+45swapsC19.889.6259.98AA-Aa3+47swapsD36.938.009.98AA2+54swapsE28.416.759.98A-A3+66swapsF25.575.6259.98BBB+Baa1+95swapsG25.574.509.98BBBBaa2+105swapsH22.733.509.98BBB-Baa3+150swapsJ14.202.87510.01BB+Ba1NAswapsK11.362.37510.10BBBa2NAswapsL5.682.12512.24BB-Ba3NAswapsM14.201.5014.82B+NRNAswapsN2.841.37514.98BNRNAswapsO5.681.12514.98B-NRNAswapsP25.570.0015.52NRNRNAswapsX-C*2,272.50NA8.80AAAAaa+175TreasX-P*2,221.00NA5.63AAAAaa+65Treas*Notional amount, interest onlyCollateral balance: $2,285.63 millionBookrunner(s): Deutsche Bank SecuritiesLead Managers: Deutsche Bank SecuritiesCo-managers: GMAC Commercial Holding Capital Markets Corp., PNC Capital Markets, Credit Suisse First Boston, JPMorgan Chase Securities, Wachovia SecuritiesB-piece Buyer: Hyperion CapitalMaster Servicer: Midland ...

Commercial Real Estate Direct Staff ReportSomerset Partners has acquired 450 Park Ave. in New York City for about $510 million, or $1,589/sf, a record high for U.S. real estate. As reported by the Wall Street Journal, Somerset, the New York ...

Commercial Real Estate Direct Staff ReportSomerset Partners has acquired 450 Park Ave. in New York City for about $510 million, or $1,589/sf, a record high for U.S. real estate. As reported by the Wall Street Journal, Somerset, the New York ...