Deal Name: 2006-TOP24

Commercial Real Estate Direct Staff Report Highlands REIT Inc. is likely to transfer title to the Dulles Executive Plaza in Herndon, Va., to the CMBS trust that holds a $68.8 million mortgage against it. The Chicago REIT last year had ...

Commercial Real Estate Direct Staff Report Highlands REIT Inc., which has been trying to sell the 379,596-square-foot Dulles Executive Plaza in Herndon, Va., has drawn offers for the property that fell short of the $68.8 million of CMBS financing against ...

Commercial Real Estate Direct Staff Report The $68.75 million CMBS loan against Dulles Executive Plaza, a 379,596-square-foot office complex in Herndon, Va., matured yesterday. It wasn't paid off, so it transferred to special servicer C-III Asset Management. Meanwhile, the collateral ...

Crain's Chicago Business Opine Properties has paid $13.8 million, or about $46,779/room, for the Four Points by Sheraton Chicago O'Hare Airport in suburban Chicago. The 295-room hotel had backed a $22.5 million loan that was securitized through Bear Stearns Commercial ...

Commercial Real Estate Direct Staff Report The recent $23 million sale of the Pointe Hilton Tapatio Cliffs Resort in Phoenix resulted in a 90 percent loss to the property's $52.9 million CMBS loan. The 585-room hotel, at 11111 North 7th ...

By John Covaleski, Commercial Real Estate Direct Staff WriterSunstone Hotel Investors has struck a deal to acquire a majority stake in the 1,625-room Manchester Grand Hyatt San Diego from developer Douglas F. Manchester in a deal that would value the ...

By John Covaleski, Commercial Real Estate Direct Staff WriterWestdeutsche Landesbank has initiated foreclosure proceedings on $72.9 million of debt backed by the 184-room Sé San Diego hotel in that city's Gaslamp district.The German bank, commonly referred to as WestLB, provided ...

Commercial Real Estate Direct Staff ReportSunstone Hotel Investors, which last year clearly said it would give back properties to lenders if valuations dictate it, has decided to turn over 11 of its hotels to Massachusetts Mutual Life Insurance Co.The insurer ...

Denver Business Journal BlackRock Realty has paid $161.7 million for the 1.7 million-square-foot Southlands Mall in Aurora, Colo. Alberta Development Partners sold the suburban Denver retail property, which it built at E-470 and Smoky Hill Road in 2006. Tenants include ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-159.2027.003.39AAAAaaNAswapsA-2173.2327.004.88AAAAaa+16swapsA-391.6627.006.81AAAAaa+22swapsA-AB81.0027.007.60AAAAaa+22swapsA-4715.2627.009.80AAAAaa+21swapsA-M153.4717.009.91AAAAaa+24swapsA-J101.6810.3759.95AAAAaa+27swapsB28.788.509.95AAAa2+33swapsC13.437.6259.95AA-Aa3+36swapsD21.106.259.95AA2+43swapsE13.435.37510.39A-A3+48swapsF13.434.5011.20BBB+Baa1+60swapsG19.183.2511.20BBBBaa2+70swapsH9.592.62511.20BBB-Baa3+90swapsJ3.842.375 BB+Ba1 swapsK3.842.125 BBBa2 swapsL5.761.75 BB-Ba3 swapsM5.761.375 B+B1 swapsN1.921.25 BB2 swapsO1.921.125 B-B3 swapsP17.270.00 NRNR swapsX-11.534.72*NA AAAAaa+125TreasX-21,502.57*NA AAAAaa+70Treas*Notional amount, interest onlyCollateral balance: $1,534.72 millionBookrunner(s): Bear Stearns, Morgan StanleyLead Managers: Bear Stearns, Morgan StanleyB-piece Buyer: ARCapMaster Servicer: Wells FargoSpecial Servicer: ARCap ServicingTrustee: LaSalle BankOriginators: Morgan Stanley (39.7 percent), Bear Stearns (24.4 percent), Wells Fargo Bank ...