The Titan Europe 2006-5 transaction posted a notice published yesterday indicating that the Quartier 206 shopping center that secures the defaulted loan with the same name was placed into "public administration".

According to the notice, the special servicer and the borrower held restructuring negotiations until May 2011 before the borrower offered to acquire or repay the loan in full for a consideration of €90 million (discounted pay-off or DPO).

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