Deal Name: Morgan Stanley Capital I Trust

Standard & Poor's has downgraded six classes of Morgan Stanley Capital I Trust, 2005-HQ5, because the collateral pool has deteriorated in credit quality, as evidenced by eight loans totaling $38.9 million that have debt-service coverage levels below the break-even point. ...

Moody's Investors Service has downgraded three classes of Greenwich Capital Commercial Funding Corp., 2006-GG7, because of projected losses on loans in special servicing. The rating's agency downgraded the deal's: - $4.5 million class O to B2 from B1; - $13.5 ...

Commercial Real Estate Direct Staff Report Lenders led by Eurohypo have provided $325 million of floating-rate debt for International Plaza, a 1.2 million-square-foot shopping center in Tampa, Fla., owned by a Taubman Centers Inc. partnership. The financing retires some $175.2 ...

Two tenant-in-common investor groups led by Edward H. Okun of Indianapolis have defaulted on their securitized mortgages, which total $84 million. A third securitized mortgage, of $15 million, made to another Okun group, is in danger of defaulting. That loan ...

Willett Cos. is offering for sale 55 Public Square, a 425,000-square-foot office building in downtown Cleveland. HFF Inc.'s Chicago office is listing the building, which is expected to command $45 million.

Commercial Real Estate Direct Staff ReportMaguire Properties Inc.has lined up $550 million of financing for Wells Fargo Tower, a 1.4 million-square-foot office building in downtown Los Angeles.The Los Angeles REIT lined up the 10-year mortgage from Lehman Brothers and RBS ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-144.4030.00NAAAAAaaNAswapsA-1A355.8830.00NAAAAAaaNAswapsA-2196.2030.004.84AAAAaa+16swapsA3-1306.0030.006.57AAAAaa+25swapsA3-250.0030.00NAAAAAaaNAswapsA-AB59.3030.007.29AAAAaa+25swapsA-4500.5730.009.78AAAAaa+23swapsA4-FL180.0030.009.78AAAAaaNALiborA-M161.7720.009.78AAAAaa+26swapsAM-FL80.0020.009.78AAAAaaNALiborA-J190.3912.1259.92AAAAaa+29swapsB18.1311.3759.95AA+Aa1+32swapsC36.269.8759.95AAAa2+34swapsD24.188.8759.95AA-Aa3+37swapsE12.098.3759.95A+A1+41swapsF21.167.509.95AA2+42swapsG24.186.509.95A-A3+45swapsH27.205.3759.95BBB+Baa1+60swapsJ24.184.3759.95BBBBaa2+70swapsK33.243.009.95BBB-Baa3+85swapsL9.072.6259.95BB+Ba1NAswapsM6.042.3759.95BBBa2NAswapsN9.072.009.95BB-Ba3NAswapsO3.021.8759.95B+B1NAswapsP9.071.509.95BB2NAswapsQ9.071.1259.95B-B3NAswapsS27.200.0010.05NRNRNATreasX2,417.65NA AAAAaa+90Treas*Notional amount, interest onlyCollateral balance: $2,417.65 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley, LaSalle Financial ServicesCo-managers: Deutsche Bank, Merrill LynchB-piece Buyer: JER Investors TrustMaster Servicer: Capmark FinanceSpecial Servicer: JE Robert Co.Trustee: Wells Fargo BankOriginators: Morgan Stanley (75.7 percent), ...

There's talk that JEMB Realty Corp. may be looking to test the waters with an offering of the 660,000-square-foot downtown office property. The high-tech property was refinanced last year with a $157 million debt package.

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-1125.0030.003.33AAAAaaNAswapsA-1A217.2230.009.01AAAAaaNAswapsA-2180.0030.006.71AAAAaa+33swapsA-325.0030.006.85AAAAaa+33swapsA-AB100.0030.007.15AAAAaa+28swapsA-4722.4030.009.67AAAAaa+29swapsA-M195.7020.009.86AAAAaa+32swapsA-J139.4012.8759.87AAAAaa+40swapsB14.7012.1259.87AA+Aa1+42swapsC26.9010.759.87AAAa2+44swapsD17.109.8759.87AA-Aa3+47swapsE17.109.009.87A+A1+51swapsF19.608.009.87AA2+54swapsG19.607.009.94A-A3+64swapsH26.905.6259.96BBB+Baa1+95swapsJ19.604.6259.96BBBBaa2+110swapsK19.603.6259.96BBB-Baa3+175swapsL7.303.259.96BB+Ba1NAswapsM9.802.759.96BBBa2NAswapsN4.902.509.96BB-Ba3NAswapsO4.902.259.96B+B1NAswapsP4.902.009.96BB2NAswapsQ9.801.5010.02B-B3NAswapsS29.350.0012.65NRNRNAswapsX*1,956.60NA8.63AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $1,956.60 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley, LaSalle BankCo-managers: Merrill Lynch, RBS Greenwich CapitalB-piece Buyer: ARCapMaster Servicer: Wells FargoSpecial Servicer: ARCap ServicingTrustee: US BankOriginators: Morgan Stanley (55 percent), LaSalle Bank (37.6 percent), ...

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-175.2020.002.99AAAAaa+10swapsA-250.0020.004.97AAAAaa+23swapsA-1A231.7720.008.68AAAAaaNAswapsA3-1FL75.0020.006.47AAAAaa+24LiborA3-178.0020.006.47AAAAaa+35swapsA3-250.0020.006.66AAAAaa+35swapsA-AB75.0020.006.91AAAAaa+27swapsA-4A527.3030.009.57AAAAaa+28swapsA-4B75.3020.009.81AAAAaa+33swapsAJ129.5011.6259.89AAAAaa+39swapsB30.909.6259.96AAAa2+44swapsC11.608.8759.97AA-Aa3+48swapsD25.107.2509.97AA2+55swapsE13.506.3759.97A-A3+64swapsF19.305.12510.31BBB+Baa1+85swapsG11.604.37510.87BBBBaa2+100swapsH17.403.25011.62BBB-Baa3+155swapsJ3.893.00NABB+Ba1NAswapsK7.782.50NABBBa2NAswapsL5.842.125NABB-Ba3NAswapsM5.841.75NAB+B1NAswapsN3.891.50NABB2NAswapsO5.841.125NAB-B3NAswapsP17.520.00NANRNRNAswapsX1*1,546.90NANAAAAAaa+325TreasX2*1,502.70NANAAAAAaa+70Treas*Notional amount, interest onlyCollateral balance: $1,546.86 millionBookrunner(s): Morgan StanleyLead Managers: Morgan StanleyCo-managers: RBS Greenwich Capital, IXIS Securities, SunTrustB-piece Buyer: JER Investors TrustMaster Servicer: GMAC Commercial MortgageSpecial Servicer: J.E. Robert Cos.Trustee: Wells Fargo BankOriginators: Morgan Stanley (48.7 percent), ...