Moody's: No ratings impact on LB Commercial Mortgage Trust 2007-C3 from the Proposed Sale, Transfer and Loan Assumption of 237 Park Avenue

New York, October 11, 2013 -- Moody's Investors Service (Moody's) was informed that 237 Park Owner LLC ("Proposed Borrower") will acquire and assume the Loan from 237 Park Owner, L.P. ("Current Borrower"). RXR Real Estate Value Added Fund LP, RXR Real Estate Value Added Fund Parallel LP, Walton Street Real Estate Partners VII, L.P., Walton Street Real Estate Fund VII-Q. L.P., Walton Street Real Estate Fund VII, L.P., Walton Street Real Estate Fund VII-E, L.P., Walton Street Real Estate Investor VII, L.P., Walton Street Real Estate Partners VII-NGE, L.P. and WSC Capital Holdings VII, L.P. (the "Proposed Guarantors") will become the new Guarantor/Indemnitor for the non-recourse carve outs and environmental indemnities, replacing Long Cedar Plank LLC ("Current Guarantor"). The proposed Sale, Transfer and Assumption of debt will become effective upon satisfaction of the conditions set forth in the governing documents.

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