Deal Name: Merrill Lynch Floating Trust
Moody’s Downgrades CSFB 2005-C1, DLJCM 1998-CF1, JPMCC 2005-CB12, JPMCC 2005-LDP1 and MLFT 2006-1
Following is a list of recent downgrades by Moody's Investors Service: Deal Name Current Pool Bal. $mln Orig. Pool Bal $mln DXMark (collateral value, % of par)* Class Size $mln Moody's New Rating Moody's Old Rating Notes Credit Suisse First ...
Blackstone Takes Piece of La Quinta Public; Raises Less than Expected
Commercial Real Estate Direct Staff Report Blackstone Group yesterday took a piece of the La Quinta hotel chain that it owns public through a stock offering. Shares in the company, La Quinta Holdings Inc., were sold for $17 apiece, less ...
CIBC, Natixis Lend $250Mln Against Lord & Taylor Store in Manhattan
CIBC and Natixis Real Estate Capital have agreed to provide $250 million of mortgage financing for Lord & Taylor's flagship store at 424 Fifth Ave. in midtown Manhattan. CIBC is administrative agent for the financing and will take down half ...
BofA Takes Dayton, Ohio, Office Building in Sheriff’s Sale
Charlotte Business Journal Bank of America Corp. has paid $10.8 million for the Kettering Tower, a 486,000-square-foot office building in Dayton, Ohio, at a recent sheriff's sale. The 30-story property, at 40 N. Main St., had been with receiver CB ...
Debt on San Antonio Hotel in Default
San Antonio ExpressA total of $59 million of debt against the Crowne Plaza Riverwalk hotel in San Antonio is in default. A foreclosure suit was filed against the 410-room property's owner, a venture led by HEI Hotels & Resorts, and ...
Moody’s Downgrades Bonds from 5 CMBS Deals
HTML clipboardMoody's Investors Service is reviewing all transactions issuedbetween 2006-2008, as well as every large-loan deal. As part of its review, the rating agency has adjusted propertycapitalization rates and cash flows to determining adequatesubordination levels and bond ratings. It now ...
FINAL PRICING: $3.1Bln Merrill Lynch Floating Trust, 2006-1
ClassAmt$mlnSubLevel%AvgLife (yrs)*RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1773.0439.251.83AAAAAAAaa+7LiborA-1A810.0039.25NAAAAAAAAaaNALiborA-2527.6819.001.92AAAAAAAaa+13LiborB55.3716.8751.92AA+AA+Aa1+17LiborC48.8615.001.92AA+AA+Aa2+19LiborD32.5713.752.04AA+AAAa3+20LiborE75.3010.862.35AAAANR+21LiborF46.689.0692.50AA-AA-NR+24LiborG44.277.372.63A+A+NR+31LiborH40.555.8142.67AANR+33LiborJ35.944.4352.69A-A-NR+37LiborK36.323.0412.75BBB+BBB+NR+55LiborL31.061.8492.84BBBBBBNR+70LiborM48.180.002.92BBB-BBB-NR+133LiborX1-A2,605.83NANAAAAAAAAaa+30E****assumes no extension**Notional amount, interest onlyCollateral balance: $3,076.23 millionBookrunner(s): Merrill Lynch, Bear StearnsLead Managers: Merrill Lynch, Bear Stearns, Lehman Brothers, Morgan Stanley, Countrywide Securities, RBC Capital Markets, Deutsche Bank, LaSalle Financial ServicesMaster Servicer: KeyCorp Real Estate Capital ...
About
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.
