New York, August 14, 2015 -- Moody's Investors Service (Moody's) was informed of a proposed transfer of equity interest in the borrower for the World Trade Center I & II Loan in JPMCC 2013-LC11. The transfer is related to the formation of a joint venture between Rosemont Realty and Gemini Investments (Holdings) Limited. As part of the transfer, certain indirect controlling and non-controlling ownership interests in Rosemont WTC Denver Operating LLC ("the Borrower") will be sold, assigned, contributed and otherwise transferred such that the ownership structure of Borrower will result in Gemini-Rosemont Realty LLC owning an indirect controlling interest in Borrower. As part of the transfer, and with the amendment of key documents relating to the mezzanine loan, Gemini-Rosemont Realty LLC will effectively become the new guarantor of the existing mezzanine debt. Property management rights will also be transferred to an entity controlled by the new joint venture. The organizational documents of the Borrower, the mezzanine borrower, and the existing guarantor/environmental indemnitor will remain unchanged.

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