Deal Name: 2006-FL12

Vornado Realty Trust has acquired a 58.75 percent stake in Independence Plaza, a 1,332-unit residential complex in the Tribeca area of Manhattan. The deal values the complex at $844.8 million, or $634,234/unit. As part of the transaction, the Paramus, N.J., ...

Commercial Real Estate Direct Staff Report The venture that owns the 1,332-unit Independence Plaza North apartment complex in Manhattan obtained a two-year extension on the maturity date for the property's $265 million of senior debt. The debt, which is securitized ...

A substantial CMBS loan that facilitated Blackstone Group's purchase of CarrAmerica Realty Corp. in 2006 has been transferred to special servicing because of the risk that it won't be refinanced by its maturity in August. The $228.2 million loan is ...

The maturity date of a $630 million debt package on San Diego's Hotel del Coronado has been extended by a month, giving the 679-room property's owner additional time to hammer out some sort of restructuring. The property is owned by ...

Commercial Real Estate Direct Staff ReportThe debt on San Diego's Hotel del Coronado has been moved to special servicing as the property's owner, a venture led by Strategic Hotels & Resorts Inc., tries to negotiate a restructuring.The upscale hotel, with ...

HTML clipboardFollowing is a list of recent downgrades by Moody's InvestorsService: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln Class Size $mln Moody's New Rating Moody's Old Rating Reason for Rating Action Banc of America Large Loan Inc., ...

Moody's Investors Service has downgraded five classes of COMM 2006-FL12 that are tied to two collateral loans that have seen a decline in performance. One loan, with a balance of $42.3 million, is backed by the Avenue at Tower City, ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-11,291.3640.190.93AAAAaa+9LiborA-J430.4620.251.67AAAAaa+18LiborB91.7616.001.30AA+Aa1+24LiborC75.5712.501.30AAAa2+30LiborD64.779.501.30AAAa3+35LiborE64.776.501.30AA-A1+41LiborF64.773.501.30AA2+50LiborG21.592.501.30AA3+55LiborH21.591.501.30A-Baa1+70LiborJ13.490.871.30BBBBaa2+125LiborK18.89NA1.30BBB-Baa3NALibor*Notional amount, interest onlyCollateral balance: $2,515.27 millionBookrunner(s): Deutsche BankLead Managers: Deutsche BankCo-managers: Lehman Brothers, JPMorgan SecuritiesMaster Servicer: Wells Fargo BankSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Deutsche Bank (93.1 percent), Societe Generale (6.9 percent)Number of Loans/Properties: 12/59Property Types: ...

Commercial Real Estate Direct Staff ReportStrategic Hotels & Resorts has lined up $318.5 million of mortgage debt for three of its properties, allowing it to retire $292.5 million of debt. The Chicago hotel company also has lined up a fresh ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1217.0440.891.14AAAAAAAaa+5LiborA-21,300.7740.891.70AAAAAAAaa+10LiborA-J507.0021.191.89AAAAAAAaa+13LiborB111.0016.882.15AA+AA+Aa1+17LiborC78.0013.852.16AA+AA+Aa2+19LiborD86.0010.512.16AAAAAa3+23LiborE64.008.022.16AAAA-A1+29LiborF64.005.532.16AA-A+A2+34LiborG61.003.162.16A+A+A3+38LiborH38.001.682.16AANR+57LiborJ43.350.002.16A-A-NR+95Libor*Notional amount, interest onlyCollateral balance: $3,014.76 millionBookrunner(s): Deutsche BankLead Managers: Deutsche Bank, Societe Generale, Barclays CapitalCo-managers: Credit Suisse, JPMorgan Chase, Lehman BrothersMaster Servicer: Capmark FinanceSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Deutsche Bank (67.4 percent), Bank of America ...