![]() ![]() LC = Ladder Capital (crime infused fuckwards involved in CMBS) The Fort Dodge Iowa code WFCM 2016-LC25 for example might stand for this: If you notice above, there is a specific naming mechanism to these CMBS loans, it goes: You can even see a picture of the GameStop store attached to this Fort Dodge CMBS loan on their site: This specific GME loan in Iowa was chopped up and sent to CMBS loans WFCM 2016-C37 and WFCM 2016-LC25. ALL 33 were part of Walmart Shadow Anchored Portfolios–and accordingly–CMBS loans. ![]() were connected to 33 out of the 130 GME leases I found. (Each of these CMBS loans is searchable on a Bloomberg Terminal as each CMBS loan = Bloomberg ID.)Īs of the source which published in 2019, Schostak Bros. ![]() Each GameStop store is linked to a CMBS loan. I was able to find a small list of GameStop leases of ~130 GME stores that I was able to pull from a publicly available source. I wrote about it in one of my "The Big Mall Short" posts ( " The Big Mall Short #7: From the Window to the Walmart, till the Sweat drips down my Ballmart" : ) HOWEVER, this looks so far like the naming protocol used in most CMBS classes. It would not surprise me if they have swaps open on these. I started digging into this a bit early, and was hoping I could have some more eyes on this as well.įrom what I've seen, I have no idea if swaps are being used against these properties (as we know, Rostin Benihana and the CFTC have hid swaps through 2025). Wonder how that’s working out for them? BoA Merril, wells, Morgan. I found a $600MM CMBS Pass-through agreement which was made up of 30% office space. Here are some examples to search of anyone knows how to dig into this:Īnother wrinkle known as or the bartender called woody found one such sample: There are lots of odd filings using the nomenclature in the title, one of them just made ~4 hours ago (this is #26 below- the one that got me trying to dig into this)Īll seem to be CMBS, MBS, ABS, “Commercial Mortgage Pass-Through Certificates”, “Asset Backed Pass-Through Certificates”, etc This awesome ape called or rather 8128th expensive-est two found this awesome find earlier today: I have no idea just yet if there is any "fishy" situation as CMBS gets downgraded and some properties get shuffled, but was hoping for more eyes. However, this isn't the case for ALL OF THEM: Concord Mills was featured in the loan that another user found.and it seems to have matured in 2022 then shoved into that 2023-made BANK loan. Many CMBS loans are meant to mature by 2023, so this could be part of an innocuous/"harmless" process of shoving old CMBS properties into new Jenga Towers of loans.You might see this in Millenium Boston Retail, a major CMBS property that was taken from the CMBS Jenga Tower known as BAML 2013-C7 and shoved into BANK 2023-BNK45. However, despite the name, BANK =/= BoFA everytime. It seems to consist of 3 banks: BoFA (Bank of America), Wells Fargo, and Morgan Stanley. From my understanding, it seems that there is a series of CMBS loans under the header "BANK" that have existed since 2020. Size: each 18 x 6 x 4.Found a series of new potential CMBS issuances being posted to the SEC site. Sometimes the bricks will still fall, but we learn to accept that, and we start again. We need to learn to problem-solve, forward-plan and be prepared to change our direction. Jenga provides a metaphor for life - sometimes a situation, like the tower, can be precariously balanced. Jenga is a visual illustration of the need to stand back, and think before you act - if you rush in, and don't plan ahead, the bricks will fall. Jenga is a great game to play with children and young adults who can be impulsive. Taking the time to play a game with someone shows that you are making time for them, and that they are important, thus helping build their self-esteem Wonderful for use outdoors, to encourage gentle exercise, activity and making the most of fresh air Great for turn-taking, sharing leisure time and encouraging co-operative play 58 pine blocks create a tower over 90cm high. ![]() Fun on a giant scale! Large pieces are easier to hold for the less dextrous. How high can you go? Take turns to remove blocks from the tower without it toppling down. ![]()
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