Moody's: BACM 2007-3 Unaffected by the Proposed Non-Permitted Equity Transfer Request

New York, August 17, 2015 -- Moody's Investors Service (Moody's) was informed that Waterton Associates LLC and California State Teachers' Retirement System, the Sponsor for Presidential Towers, have requested to transfer a portion of their interest in the property so that Oregon Public Employees Retirement Fund will own 48.5% of a joint venture entity that will own 100% of the interests in the property. The joint venture entity will serve as the Guarantor and provide the Environmental Indemnity for the Presidential Towers loan. After the transfer is complete, the respective Sponsorship structures will include Waterton Associates LLC, California State Teachers Retirement System, and Oregon Public Employees Retirement Fund.

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