Deal Name: First Union Commercial Mortgage Trust

Crain's Chicago Business U.S. Bank has filed a foreclosure suit against the owner of the retail space in the James R. Thompson Center complex in Chicago. A venture led by retired Chicago developer Charles Palmer owns the 70,853-square-retail component, dubbed ...

Crain's Chicago Business Joseph Freed & Associates, a Chicago-area developer that lost the city's Block 37 project earlier this year, is in danger of losing another local retail property. The developer in July 2010 defaulted on $19.2 million of debt ...

Bank of America has funded a $46 million mortgage for the Polaris Towne Center, a 1.5 million-square-foot shopping center in Columbus, Ohio, that is owned by Glimcher Realty Trust. The loan, with a 10-year term and fixed coupon of 6.75 ...

Standard & Poor's has downgraded three classes of First Union National Bank Commercial Mortgage Trust, 2000-C2, because of losses.The transaction has so far been hit with $24.2 million of losses, wiping out the deal's unrated class and impacting class N. ...

Standard & Poor's has downgraded two classes of First Union National Bank Commercial Mortgage Corp., 2000-C2, because of expected losses from loans in special servicing.To date, the deal has already experienced six losses totaling $14.6 million and additional losses are ...

Standard & Poor's has upgraded 14 classes of First Union National Bank Commercial Mortgage Trust, 2001-C2, because of improved subordination levels.The deal's balance is $905.2 million from $1 billion at issuance. A total of 23 percent of the deal has ...

Moody's Investors Service has upgraded three classes of First Union Commercial Mortgage Securities Inc., 1999-C1, because of improved subordination levels. The deal's collateral balance is $936.9 million compared with $1.2 billion at issuance. In addition, 32 loans totaling 21.9 percent ...

Fitch Ratings has upgraded seven classes of First Union National Bank Commercial Mortgage Trust, 2000-C2, because of improved subordination levels. The deal's balance is $1.02 billion, compared with $1.14 billion at issuance. In addition, 11 loans totaling 10.6 percent of ...

Standard & Poor's has upgraded 13 classes of First Union National Bank Commercial Mortgage Trust, 2001-C3, due to increased credit enhancement levels and the defeasance of 9.37 percent of the pool.The collateral pool consists of 116 loans with a balance ...

Standard & Poor's last week upgraded four classes of First Union Commercial Mortgage Trust, 1999-C1, because subordination levels have improved. In addition, the rating agency cited the defeasance of 16 percent of the pool's collateral balance, which stands at $956.4 ...