Deal Name: COMM 2006-CNL2
Deutsche Team Launches $722.4Mln CMBS Deal Against Hotel Portfolio
Commercial Real Estate Direct Staff Report Underwriters led by Deutsche Bank have launched a $722.4 million CMBS deal against three resort hotels in Orlando, Fla., and Phoenix that Blackstone Real Estate Partners purchased from a venture in which its mortgage ...
Singapore Bids $1.5Bln for 4 Resort Hotels Backing $851Mln of CMBS Debt
Commercial Real Estate Direct Staff Report The Government of Singapore Investment Corp. has submitted the winning bid of $1.5 billion for four hotels with 2,595 rooms that were thrown into bankruptcy by a venture of Paulson & Co., Capital Trust ...
Singapore Fund Seeks Bankruptcy Auction of Four Hotels with 2,593 Rooms
Wall Street Journal The Government of Singapore Investment Corp. is trying to force a bankruptcy auction of four hotels with 2,593 rooms in Hawaii, California and Arizona. The sovereign wealth fund, which holds $400 million of mezzanine debt against the ...
Trump Receives $106Mln of Debt for South Fla. Golf Resort
South Florida Business Journal Donald Trump has received $106 million of debt for the Doral Golf Resort & Spa in South Florida. Deutsche Bank provided the loan against the 693-room hotel and golf course property in Doral, Fla., shortly after ...
Trump Made $170Mln Offer for Miami’s Doral Resort
The Trump Organization made the $170 million offer for the Doral Golf Resort & Spa in Miami and becomes the stalking-horse bidder in the property's bankruptcy auction, according to a report in the Wall Street Journal. The property is one ...
Five Resorts Backing $1Bln of CMBS Debt File Bankruptcy
The five resort hotels backing $1 billion of maturing CMBS debt have been thrown into bankruptcy by their owner, a group led by Paulson & Co. The thinking had been that the five properties would file. Their debt, securitized through ...
Bankruptcy Eyed by Owner of Resorts Backing Maturing $1Bln CMBS Loan
The owner of five luxury and resort hotels that face the maturity of some $1.5 billion of debt is considering filing for bankruptcy protection, according to a report in the Wall Street Journal. The hotels, and three others, were taken ...
Lenders Take Hotels from Morgan Stanley Venture
Lenders led by hedge-fund manager Paulson & Co. have seized eight luxury and resort hotels owned by a venture of Morgan Stanley Real Estate Fund and the California State Teachers' Retirement System, Bloomberg has reported. The lenders, which also include ...
LNR Asset Managers Handle Average of 36 Loans Each
Commercial Real Estate Direct Staff ReportLNR Partners Inc.'s asset managers are handling an average of 36 assets apiece, giving them a workload that's more than double the industry average of 17 assets per manager, according to Fitch Ratings.The rating agency, ...
FINAL PRICING: $1Bln COMM, 2006-CNL2
ClassAmt$mlnAvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-150.004.94AAAAAA+37swapsA-2FX184.254.94AAAAAA+22LiborA-2FL184.254.94AAAAAA+34swapsA-JFX69.754.94AAAAAA+26LiborA-JFL69.754.94AAAAAA+37swapsB-FX33.504.94AA+AA++31LiborB-FL33.504.94AA+AA++43swapsC-FX21.004.94AAAA+34LiborC-FL21.004.94AAAA+46swapsD36.504.94AA-AA-+51swapsE36.504.94A+A++56swapsF36.504.94AA+59swapsG36.004.94A-A-+63swapsH48.504.69BBB+BBB++75swapsJ65.004.94AAAAAANATreasCollateral balance: $1 billionBookrunner(s): Deutsche Bank SecuritiesLead Managers: Deutsche Bank SecuritiesCo-managers: Banc of America Securities, J.P. Morgan Securities, Lehman BrothersMaster Servicer: Midland Loan ServicesSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Deutsche Bank (100 percent)Number of Loans/Properties: 1/5Property Types: ...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
