Valuation down on Titan 2006-3 Representative resigns on Titan 2006-5

摘要

Titan Europe 2006-3 has received a new valuation from its special servicer on a portfolio of underlying properties, showing a significant decline in value over the past few years. Hatfield Philips has received an updated valuation on the properties backing the Monnet portfolio loan. This indicates that aggregate market value of the properties as of January 30 2015 was €20.3m, down from the previous valuation of €25.184m in August 2012. This is a more than 19% decline in value over the period, which the special servicer attributes to reduced rental income along with a decrease in the weighted average lease length.