Moody's: No rating impact on GSMS 2006-GG8 following Equity Transfer of CityWest Loan in Houston, Texas

New York, December 12, 2013 -- Moody's Investors Service (Moody's) was informed of a non-permitted equity transfer of indirect ownership interests in the borrower for the CityWest Loan in the GSMS 2006-GG8 transaction. The equity transfer, which is to occur in connection with the planned merger of Thomas Properties Group, Inc. ("TPGI") and its affiliates, and Parkway Properties, Inc. ("Parkway REIT") and its affiliates, will result in the transfer of indirect ownership of CityWest from TPGI and its affiliates to Parkway REIT and its affiliates. As part of the transaction, the current property manager, Thomas Properties Group, LP, an affiliate of TPGI, will be replaced by Parkway Realty Services, an affiliate of Parkway REIT, or another Parkway REIT affiliate.

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