Moody's: No rating impact to JPMCC 2007-CIBC20 from Proposed Sale and Transfer of the North Hills Mall Loan

New York, July 01, 2014 -- Moody's Investors Service (Moody's) was informed that the beneficial owners of the current borrower of the North Hills Mall Loan, NHM Owner-1, LLC, a Delaware LLC ("Current Borrower") will sell and transfer a 50.0% ownership interest in a new joint venture entity, North Hills JV, LLC, a Delaware LLC the sole member of North Hills Owner, LLC, a Delaware LLC (the "Assumptor"), to JPM Commingled Pension Trust Fund ("JPM Trust Fund"). In connection with the sale, the Assumptor will take title to the Collateral and will assume all remaining obligations under the terms of the Loan from the Current Borrower. The proposed transfer will become effective upon satisfaction of the conditions set forth in the governing documents.

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