Deal Name: 2006-IQ12
Loan Against Another Newark, N.J., Office Moves to Special Servicing
Commercial Real Estate Direct Staff Report For the second time in two years, the $57.1 million CMBS loan against Gateway Center IV, a 327,135-square-foot office building in downtown Newark, N.J., has transferred to special servicing. This time, it's because it ...
MetLife Lends $145Mln Against Lower Manhattan Office Building
Metropolitan Life Insurance Co. has provided a $145 million loan against 255 Greenwich St., a 623,748-square-foot office building in lower Manhattan. The loan was used to defease, or replace with government securities, an $85 million mortgage that was securitized through ...
National Asset Services Tapped to Manage Cincinnati Office
National Asset Services has been tapped to provide asset-management services for One Northlake Place, a 177,033-square-foot office property at 11500 Northlake Drive in Cincinnati. The property is owned by a tenant-in-common group, sponsored by Triple Net Properties, that had bought ...
Loan on Newark, N.J., Office Moves to Special Servicer
Commercial Real Estate Direct Staff Report The $59.3 million CMBS loan against Gateway Center IV, a 327,135-square-foot office building in downtown Newark, N.J., has been transferred to special servicing because it's expected to default. The loan, which pays a 5.96 ...
Fitch Downgrades MSC 2006-IQ12, BSCMS 2007-T28 and CGCMT 2006-C4
Following is a list of recent downgrades by Fitch Ratings: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Fitch's New Rating Fitch's Old Rating Notes Morgan Stanley Capital I ...
N.J. Court Ruling Seen Having Impact on 2 CMBS Trusts
NJ.com A New Jersey appeals court judge has approved $211 million of tax credit to Prudential Financial for its construction of a 20-story office tower in Newark, N.J. The insurance company plans to relocate employees from the nearby 780,000-square-foot Two ...
$50.8Mln Loan Against South Fla. Office Building Moves to Special Servicing
South Florida Business Journal The $50.8 million of CMBS debt against the 217,056-square-foot Harbour Centre office building in Aventura, Fla., has been transferred to special servicing. The debt, which is securitized through Morgan Stanley Capital I Trust, 2006-IQ12, was transferred ...
AEW Venture Pays $21Mln for Pasadena, Calif., Retail Property
A venture of AEW Capital Management and Arenda Capital Management has paid $21 million, or $241.40/sf, for the Commons, an 87,000-square-foot retail center in the South Lake District of Pasadena, Calif. The venture bought the property from SRO Properties of ...
Chicago’s Westin O’Hare Seen Selling
Crain's Chicago Business A venture led by Chartres Lodging Group is buying the 525-room Westin O'Hare near Chicago for about $53 million, or $100,952/room. The property at 6100 North River Road in Rosemont, Ill., had been owned by Ashford Hospitality ...
Chesapeake to Pay $68Mln for Washington, D.C., Hotel
Chesapeake Lodging Trust has agreed to purchase the 204-room Courtyard Washington Capitol Hill/Navy Yard in Washington, D.C., for $68 million. The Annapolis, Md., REIT plans to fund the acquisition by assuming about $37.7 million of existing debt and borrowing against ...
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