Deal Name: Bear Stearns Comm Mtg Sec Inc. 2006-PWR12
Hager Pacific Pays $35Mln for Industrial Portfolio
BizTimes Hager Pacific Properties has paid $35 million for a four-property industrial portfolio that included the Brown Deer Business Park, an eight-building flex-industrial complex in the Milwaukee suburb of Brown Deer, Wis. The three other properties are in California. One ...
Group of Insurers Lend $92.5Mln Against Suburban N.Y. Retail Center
Commercial Real Estate Direct Staff Report A group of insurance companies led by American Home Assurance Co. has provided $92.5 million of financing against Orange Plaza, a 765,390-square-foot retail property in Middletown, N.Y., some 75 miles north of Manhattan. The ...
PREIT Refis, Upsizes Mall Loans
Pennsylvania REIT has refinanced the $140.5 million CMBS loan against the Woodland Mall in Grand Rapids, Mich., and increased to $57 million a loan it has against the Viewmont Mall near Scranton, Pa. The Philadelphia REIT turned to US Bank ...
MetLife Lends $254.6Mln Against 1675 Broadway in Manhattan
Metropolitan Life Insurance Co. has provided $254.6 million of mortgage financing against 1675 Broadway, a 761,092-square-foot office property in midtown Manhattan. The loan was used to retire $170.9 million of debt, including a $146.9 million senior mortgage that was securitized ...
Ad Agency Renews, Expands Lease at 1675 Broadway in Manhattan
New York Post Publicis Groupe has renewed its lease at 1675 Broadway in midtown Manhattan and expanded its presence at the 751,846-sf office building to 580,000 sf from 480,000 sf. The advertising agency's lease expires in 2031. The 35-story property ...
S&P Places 9 Classes of Bear Stearns 2006-PWR12 on Credit Watch Negative
Standard & Poor's has placed nine classes of Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12, on credit watch negative because two loans with a balance of $55.7 million were recently transferred to special servicing.One loan, with a balance of $43.5 ...
S&P Downgrades 2 Classes of Bear Stearns 2006-PWR12
Standard & Poor's has downgraded two classes of Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12, because of credit concerns it has with seven loans with a balance of $26.3 million that have debt service coverage levels of less than 1.0x.The ...
Troubled Minneapolis-Area Office Complex on Sales Block
By Jeff Mordock, Commercial Real Estate Direct Staff Writer A venture between Investcorp and Welsh Cos. is offering for sale the Southdale Office Centre, a 450,000-square-foot complex in the Minneapolis suburb of Edina, Minn. The venture has struggled to keep ...
FINAL PRICING: $2.1Bln Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-168.130.002.99AAAAaa+5swapsA-249.030.004.83AAAAaa+15swapsA-3150.530.006.60AAAAaa+26swapsA-AB119.830.007.32AAAAaa+24swapsA-4873.330.009.75AAAAaa+25swapsA-1A194.730.008.84AAAAaaNAswapsA-M207.920.009.89AAAAaa+29swapsA-J161.112.259.94AAAAaa+31swapsB44.210.1259.94AAAa2+33swapsC18.29.259.97AA-Aa3+35swapsD33.87.6259.97AA2+41swapsE20.86.6259.97A-A3+49swapsF26.05.3759.97BBB+Baa1+68swapsG20.84.3759.97BBBBaa2+75swapsH26.03.1259.97BBB-Baa3+105swapsJ7.802.759.97BB+Ba1NAswapsK7.802.3759.97BBBa2NAswapsL7.802.009.97BB-Ba3NAswapsM5.201.759.97B+B1NAswapsN5.201.509.97BB2NAswapsO5.201.259.97B-B3NAswapsP26.000.0010.04NRNRNAswapsX*2,079.03NA9.02AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $2,079.03 millionBookrunner(s): Bear Stearns, Morgan StanleyLead Managers: Bear Stearns, Morgan StanleyB-piece Buyer: ARCapMaster Servicer: Wells FargoSpecial Servicer: ARCap Trustee: LaSalle BankOriginators: Bear Stearns (20.3 percent), Prudential (38.5 percent), Principal Financial (15.9 percent), ...
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