Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 17 July 2018

CMBS Loan Against Queens, N.Y., Mixed-Use Property Goes to Special Servicing

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Commercial Real Estate Direct Staff Report

The $68.7 million CMBS loan against 179,186 square feet at the Queens Crossing mixed-use property in Flushing, N.Y., has transferred to special servicer Rialto Capital Advisors as cash flow from its collateral has declined.

The space is comprised of a two-level underground parking garage with 84,549 sf that has a 401-vehicle capacity, 79,875 sf of retail space on three lower floors and 14,762 sf of office space on the 12-story building's top floor, which is occupied by the property's owner. The loan also is secured by the property's exterior signage. The remainder of the building - 213,999 sf of office space on eight remaining floors - is separately owned and doesn't back the loan, which was securitized through GS Mortgage Securities Trust, 2013-GCJ12.

The loan's transfer to Rialto was highlighted this afternoon by Fitch Ratings in a Daily Special email alert. While the reason for the transfer has been listed as "other" in servicing...


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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Mixed-Use
  • Subject: Commercial MBS (CMBS), Mortgages/Financing (MOR)
  • Deal Name: GS Mortgage Securities Corp. II, 2013-GCJ12
  • Company: Fitch
  • Private: Yes
  • bloombergDealName: GSMS 2013-GC12
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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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