special-servicing

Real Money: SL Green To Recapitalize Three Columbus Circle

by on October 28, 2010

SL Green Realty Corp. and The Moinian Group reached an agreement to recapitalize Three Columbus Circle – a midtown Manhattan office tower in the final stages of a major redevelopment. The loan is currently is special servicing after the borrower quit…

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Real Money: SL Green To Recapitalize Three Columbus Circle

Special Servicer CWCapital Latest To See Ownership Change

by on July 7, 2010

The reshaping of the loan special servicing industry continued this past week with the third major firm changing hands since December 2009, and more changes expected to be on the way. This past week, affiliates of Fortress Investment Group LLC agreed…

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Special Servicer CWCapital Latest To See Ownership Change

$800 Million Innkeepers USA Trust Loan Goes into Special Servicing

May 18, 2010

Late last month, a 45-property portfolio owned by Innkeepers USA Trust in Palm Beach, FL, went into special servicing after the hotel owner/manager failed to make certain scheduled monthly interest payments on certain of its debt obligations and said…

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Large Loans Drive CMBS, CDO Delinquencies Higher

January 20, 2010

The transfer of large balance CMBS loans to special servicing continues to increase as commercial property performance declines, according to Fitch Ratings in the latest edition of What’s in Special Servicing?. An additional $1.2 billion of loans in…

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CMBS Loan Delinquencies Could Reach 7% and Beyond in 2010, says Realpoint

December 31, 2009

transfers were 177 loans issued from 2005 to 2007 – the height of the bull market for commercial real estate lending. These 177 loans have a current balance of $7.46 billion. Simply put, 86% of the newly transferred loan balance to special servicing is

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Fitch Affirms Pacific Life's CMBS Servicer Ratings

October 31, 2009

Also at the same date, Pacific Life was the named special servicer for 13 US CMBS transactions consisting of 123 loans totaling $2.1 billion and was actively special servicing five CMBS loans totaling $440 million. …

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Fitch Places 247 CMBS on Rating Watch Negative

October 25, 2009

The 2005 transactions have 4.3% of loans in special servicing and 13.1% loans of concern, compared with 7.2% and 18.3% for the 2006 vintage, 7.1% and 25.9% for the 2007 vintage and 9.6% and 23.7% for the 2008 vintage. …

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Troubled CMBS Loans Skyrocket as Special Servicers Wrestle with …

October 23, 2009

By the end of the third quarter of 2009, only 10% of loans dispatched to special servicing following delinquencies or defaults had been returned to the loans’ master servicers and categorized as current. …

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Investcap Advisors LLC: CMBS Roadmap: Where Is Your Loan Going?

October 12, 2009

Meanwhile, Fitch Ratings says $36.1 billion in CMBS has been transferred to Special Servicing . But as multifamily owners deal with their own CMBS issues, there is uncertainty about what happens to CMBS loans and where to go when your …

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Situs Expands Special Servicing Amid Pressured European CMBS …

September 22, 2009

European CMBS loan performance continued to reflect the effects of asset value and income deterioration as more loans became delinquent, breached covenants and moved into special servicing in August. Write to Diana Golobay. …

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Wells Fargo CMBS Servicer Ratings Fall on Management Concern …

August 17, 2009

“The current manager of the CMBS special servicing group lacks an appreciable level of CMBS or commercial real estate workout experience,” the Fitch statement said. “He reports directly to the head of commercial mortgage servicing at …

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