Loan on Capitol Records Building in Los Angeles Sent to Special Servicer
BL00MBERG "A $46.4 million loan backed by Los Angeles’ Capitol Records building, where Frank Sinatra, the Beach Boys, Nat King Cole and Judy Garland recorded, was sent to a special servicer today, Fitch Ratings said. The master servicer is Midland Loan Services and the special servicer is CT Investment Management, according to the debt-rating company. The loan, sponsored by Millennium Partners and Argent Ventures, is scheduled to mature on Oct. 15, Fitch said in a June 23 report. Mortgage servicers specialize in restructuring troubled debt."