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Tuesday, 12 September 2017

CMBS Loan Against Illinois Mall Returned to Special Servicing

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Commercial Real Estate Direct Staff Report

The $27.4 million CMBS loan against the Hickory Point Mall in Forsyth, Ill., has been sent back to special servicer C-III Asset Management because it's expected to default.

The loan, securitized through Bear Stearns Commercial Mortgage Securities Corp., 2006-PWR11, previously had been in special servicing in late 2014 as it was approaching its December 2015 maturity.

Soon after, the property's owner, CBL & Associates Properties Inc., tried to sell the property, but that effort was nixed when C-III objected to a proposed loan assumption. So in April 2016, the loan was modified, with its term extended by three years to December 2018. Its amortization requirement also was lifted.

The...





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Additional Info

  • Syndicate to Realpoint: No
  • States: Illinois
  • Sector: Retail
  • Subject: Commercial MBS (CMBS)
  • Deal Name: Bear Stearns Commercial Mortgage Securities Inc. 2006-PWR11
  • Valuation: Between $10 million and $25 million
  • Private: Yes
  • bloombergDealName: BSCMS 2006-PW11
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

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