Classes K through O of GMAC Commercial Mortgage Securities Inc. commercial mortgage pass-through certificates, series 2004-C3, have been placed on Rating Watch Negative by Fitch Ratings.The rating actions were attributed to a potential for significant losses to four loans in special servicing. The loans are cross-defaulted and cross-collateralized and secured by multifamily properties in Nashville, Tenn. "Recent valuations of the properties indicate significant losses would be incurred if the loans were liquidated today," Fitch reported.
Fitch Eyes GMAC CMBS Classes
July 27, 2006, 2:00 p.m. EDT 1 Min Read
