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United States. Securities and Exchange Commission

National Cooperative Bank Announces Change in Servicer for Two Loans

Strategic Insights

— 1 min read

National Cooperative Bank, N.A. (NCB) has filed a Current Report on Form 8-K with the Securities and Exchange Commission (SEC) announcing a change in servicer for two loans. According to the report, LNR Partners, LLC, a Florida limited liability company, has been appointed as the successor general special servicer for the Holiday Inn Express Austin North Mortgage Loan and the Hilton Garden Inn Bothell Mortgage Loan. This change is effective as of May 2, 2022.

Key Takeaways:

  • National Cooperative Bank, N.A. (NCB) has filed a Current Report on Form 8-K with the SEC announcing a change in servicer for two loans.
  • LNR Partners, LLC has been appointed as the successor general special servicer for the Holiday Inn Express Austin North Mortgage Loan and the Hilton Garden Inn Bothell Mortgage Loan.
  • The appointment of LNR Partners is effective as of May 2, 2022.
  • The loan servicing and administration for the two loans will be handled by LNR Partners pursuant to the Pooling and Servicing Agreement.
  • The Pooling and Servicing Agreement, a copy of which was filed as Exhibit 4.1 to a previous SEC filing, outlines the terms and conditions of the loan servicing and administration.
  • The principal executive offices of LNR Partners are located at 2340 Collins Avenue, Suite 700, Miami Beach, Florida 33139, and its telephone number is (305) 695-5600.

Statistics:

  • Two loans affected by the change in servicer: Holiday Inn Express Austin North Mortgage Loan and the Hilton Garden Inn Bothell Mortgage Loan.
  • LNR Partners, LLC, a Florida limited liability company, has been appointed as the successor general special servicer for the two loans.
  • The appointment of LNR Partners is effective as of May 2, 2022.
  • The number of employees at National Cooperative Bank, N.A. (NCB) not specified in the source material.
  • The revenue of National Cooperative Bank, N.A. (NCB) not specified in the source material.
  • The value of the loans affected by the change in servicer not specified in the source material.

Sources:

  • Form 8-K, filed by National Cooperative Bank, N.A. (NCB) with the Securities and Exchange Commission on May 20, 2022
  • Pooling and Servicing Agreement, dated September 1, 2016, filed as Exhibit 4.1 to a Current Report on Form 8-K/A filed by the issuing entity with the Securities and Exchange Commission on January 23, 2017.

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