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Watch List: Major CMBS-Related Properties in the News This Week

September 19, 2012

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NameAddressProperty Type; Cur. Bal.; StatusCMBS; Special ServicerComment

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Rockefeller Center30 Rockefeller Plaza, New York, NYMixed Use; $1,685,000,000; < 30 days del.GS 2005-ROCK; Wells FargoChadbourne & Parke signed 20-yr lease for 200,000 SF at 1301 Avenue of the Americas, moving from its offices at 30 Rock.

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1301 Avenue of the Americas1301 Avenue of the Americas, New York, NYOffice; $420,783,734; CurrentLB-UBS 2006-C1; LNR PartnersChadbourne & Parke signed 20-yr lease for 200,000 SF at 1301 Avenue of the Americas, moving from its offices at 30 Rock.

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Marley Station7900 Governor Ritchie Highway, Glen Burnie, MDRetail; $114,400,000; Non-perf. matured balloonBofA 2005-3; LNR PartnersProperty was appraised at $65 mil., Barclays analyst Keerthi Raghavan wrote this week. Loan set to mature next month.

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500 Orange Tower450 & 500 N. State College Blvd., Orange, CAOffice; $103,500,000; 90+ days delinq.GS 2007-GG10; CWCapitalMaguire Office Trust sold 500 Orange Tower relieving it of an obligation to repay $110 mil in first mortgage debt, Bloomberg reported.

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Lakeforest Mall701 Russell Ave., Gaithersburg, MDRetail; $82,000,000; CurrentBS 2005-TOP20; C-IIIWashington Post reported that Five Mile Capital has acquired the property for apprx $100 mil. New owner paid down principal by $20.5 mil.

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Millennium I, II, & III20 Ash St.; 225 & 227 Washington St., Conshohocken, PAOffice; $44,794,254; 60-89 days delinq.BS 2007-PWR16; C-IIITransferred to special servicing 8/29/2012, file is under review.

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20770-20810 Madrona Avenue20770-20810 Madrona Ave., Torrance, CAOffice; $35,827,137; CurrentMS 2007-IQ16; C-IIINewly transferred to special servicing; file under review.

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Harbor Place Shopping Center13190-13220 Harbor Blvd., Garden Grove, CARetail; $14,823,916; CurrentJPM 2003-LN1; C-IIIAlbertson’s, which accounts for 67% of center’s 119,857 SF, is closing increasing chance of maturity risk next summer, Bloomberg reported.


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