Deal Name: 2007-PWR15

Las Vegas Sun A judge has approved a request by lenders to name a receiver for the second phase of the World Market Center furniture-showroom complex in Las Vegas. The lenders, whose trustee is Bank of America, have requested that ...

Las Vegas Sun Bank of America, trustee for two CMBS loans, has filed lawsuits requesting court-appointed receivers for the first two phases of the World Market Center in Las Vegas, a home-furnishings product showroom and convention facility, until they are ...

Commercial Real Estate Direct Staff Report Shenzhen New World Group Co. of China agreed to pay $90 million for the 451-room Sheraton Universal Hotel in Universal City, Calif., which is being sold out of receivership. The hotel backs an $84 ...

By John Covaleski, Commercial Real Estate Direct Staff WriterThe 436-room Sheraton Universal City hotel in Los Angeles near Hollywood has been sold out of bankruptcy for an undisclosed price that would include assumption of the property's $84 million of senior ...

Moody's Investors Service has placed 17 classes of Bear Stearns Commercial Mortgage Securities Inc., 2007-PWR15, on review for possible downgrade.The rating agency was prompted to take action on the classes due to expected losses from six loans with a balance ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-1887.0040.191.13AAAAaa+7LiborA-2295.7020.251.74AAAAaa+15LiborB40.8017.502.08AA+Aa1+17LiborC40.8014.752.08AAAa2+19LiborD40.8012.002.32AA-Aa3+25LiborE42.609.132.66A+A1+30LiborF26.007.382.66AA2+35LiborG24.105.752.66A-A3+40LiborH18.504.502.80BBB+Baa1+55LiborJ19.603.182.83BBBBaa2+70LiborK24.901.502.86BBB-Baa3+120LiborL22.200.002.91BBB-Ba1+190LiborMS-1*26.70NA1.08A+A1+28LiborMS-2*31.04NA1.08AA2+33LiborMS-3*27.26NA1.08A-A3+38LiborMS-4*55.70NA1.08BBB+Baa1+50LiborMS-5*29.80NA1.08BBBBaa2+65LiborMS-6*48.41NA1.08BBB-Baa3+90LiborMS-7*17.69NA1.08BB+Ba1+120Libor*Tied to MeriStar loan.Collateral balance: $1,762.39 millionBookrunner(s): Bear Stearns, Banc of America Securities, Merrill Lynch, Countrywide SecuritiesLead Managers: Bear Stearns, Banc of America Securities, Merrill Lynch, Countrywide SecuritiesCo-managers: Credit Suisse, RBS Greenwich Capital, Morgan StanleyMaster Servicer: Bank ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-185.7030.003.39AAAAaaNAswapsA-1A306.7630.008.96AAAAaaNAswapsA-2254.0030.004.92AAAAaa+17swapsA-371.8030.006.80AAAAaa+27swapsA-AB101.5030.007.28AAAAaa+27swapsA-4975.2230.009.71AAAAaa+25swapsA-4FL170.0030.009.71AAAAaaNALiborA-M155.7120.009.87AAAAaa+28swapsA-MFL124.0020.009.87AAAAaaNALiborA-J117.1111.3759.87AAAAaa+32swapsA-JFL125.0011.3759.87AAAAaaNALiborB52.639.509.95AAAa2+36swapsC28.078.509.95AA-Aa3+40swapsD38.607.1259.95AA2+46swapsE28.076.1259.95A-A3+50swapsF38.604.759.95BBB+Baa1+80swapsG28.073.759.95BBBBaa2+90swapsH28.072.7510.09BBB-Baa3+110swapsJ10.532.37511.87BB+Ba1NATreasK7.022.12511.87BBBa2NATreasL10.531.7511.87BB-Ba3NATreasM3.511.62511.87B+B1NATreasN7.021.37511.87BB2NATreasO7.021.12511.87B-B3NATreasP31.580.0013.50NRNRNATreasX12,807.10*NA8.79AAAAaa+190TreasX22,749.50*NA5.56AAAAaa+75Treas*Notional amount, interest onlyCollateral balance: $2,807.10 millionBookrunner(s): Bear Stearns, Morgan StanleyLead Managers: Bear Stearns, Morgan StanleyB-piece Buyer: ARCap REITMaster Servicer: Wells Fargo Bank, Prudential Asset ResourcesSpecial Servicer: ARCap ServicingTrustee: LaSalle BankOriginators: Bear Stearns (35 percent), Prudential Mortgage ...

Commercial Real Estate Direct Staff ReportBear Stearns and Hypo Real Estate Capital have funded a $345 million mortgage on a recently constructed 1.4 million-square-foot furniture showroom property in Las Vegas.The mortgage pays a fixed rate of 6.35 percent and pays ...