tag:blogger.com,1999:blog-4863014635257598503.post4291670491005987457..comments2024-02-27T22:18:53.706-05:00Comments on Zero Hedge: S&P Freaks Out After Learning 3 GGP Loans Transferred To Special ServicersTyler Durdenhttp://www.blogger.com/profile/00165439451205639523noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4863014635257598503.post-38994817999002030732009-03-20T20:28:00.000-04:002009-03-20T20:28:00.000-04:00here's the link to ggp's investment page:http://ww...here's the link to ggp's investment page:<BR/><BR/>http://www.ggp.com/Investment/<BR/><BR/>as we all know, tim goebel has now left the company. on his voicemail it leaves the number for a david keating and a cell phone number for someone else. mr. keating did not answer and the someone else left the company. it's very strange how senior staff are so readily accessible to the public.<BR/><BR/>in any case, i expect very, very big developments over the next two-three days. my best guess is a chapter 11.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-67031345392109717782009-03-20T12:32:00.000-04:002009-03-20T12:32:00.000-04:00there isnt any need to work anything out with GGP,...there isnt any need to work anything out with GGP, because there is unlikely to be any loss to the three loans, and thus no loss to those cmbs deals. even if you hammer the cash flows that were reported on 9/30/08, and put a 10 cap on that, probably be able to sell properties for loan amount, and maybe more.<BR/><BR/>problem for GGP (and others who have maturing loans) is that to refi these loans they would likely need to inject capital (to achieve say a 60% LTV) to get a new loan, (if they could even find a loan since no one is lending anyway) capital they probably dont have.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-67587229094079858382009-03-20T12:08:00.000-04:002009-03-20T12:08:00.000-04:00Has anyone noticed ARE today ? down a lot and loo...Has anyone noticed ARE today ? down a lot and looks like its going into a death spiralJameshttps://www.blogger.com/profile/12183085827525696523noreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-64506239813414803962009-03-20T11:44:00.000-04:002009-03-20T11:44:00.000-04:00"maybe this is what Ackman is up to after all..."y..."maybe this is what Ackman is up to after all..."<BR/><BR/>yup...a vulture disguised as an angel.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-9306803745436229872009-03-20T11:41:00.000-04:002009-03-20T11:41:00.000-04:00great example of what's wrong with CMBS - all ...great example of what's wrong with CMBS - all 3 properties have very strong coverage & decent occupancy. Any other capital provider (life co, pension advisor, bank) would work something out.<BR/><BR/>maybe this is what Ackman is up to after all...Pete-0https://www.blogger.com/profile/16401819287720203032noreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-75244545248099612202009-03-20T11:21:00.000-04:002009-03-20T11:21:00.000-04:00Tom Friedman's gonna have to publish another crapp...Tom Friedman's gonna have to publish another crappy book.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-21921784413346662432009-03-20T11:20:00.000-04:002009-03-20T11:20:00.000-04:00dude, this is quite a soap opera fo'sho...as t...dude, this is quite a soap opera fo'sho...<BR/><BR/>as the GGP churns & burns<BR/><BR/>there's something going on that i can't quite decipher yet.<BR/><BR/>things aren't adding up to the obvious conclusion.<BR/><BR/>maybe we'll know by tonite tho yes?<BR/><BR/>11 by 7?Anonymousnoreply@blogger.com