FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-259741-08 | ||
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Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | % of Initial Pool Balance | % of Loan Balance | Mortgage Loan Originator(1) | Mortgage Loan Seller(1) | Related Group | Crossed Group | Address | City | County | State |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 9.6% | 100.0% | BANA | BANA | NAP | NAP | 700 West Convention Way | Anaheim | Orange | CA |
2 | Loan | 1 | 2001 K Street | 8.3% | 100.0% | WFB | WFB | NAP | NAP | 2001 K Street Northwest | Washington | District of Columbia | DC | |
3 | Loan | 1 | Cira Square | 7.9% | 100.0% | BANA | BANA | NAP | NAP | 2970 Market Street | Philadelphia | Philadelphia | PA | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 6.1% | 100.0% | WFB | WFB | NAP | NAP | 7620 Katy Freeway | Houston | Harris | TX |
5 | Loan | 10, B | 1 | Woodyard Crossing | 5.4% | 100.0% | MSBNA | MSMCH | NAP | NAP | 8745-8915 Woodyard Road | Clinton | Prince George's County | MD |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 5.4% | 100.0% | JPMCB | JPMCB | NAP | NAP | 9570 Wilshire Boulevard | Beverly Hills | Los Angeles | CA |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 5.2% | 100.0% | MSBNA | MSMCH | NAP | NAP | 488 Madison Avenue | New York | New York | NY |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 5.1% | 100.0% | MSBNA | MSMCH | Group 1 | NAP | 101 Jordan Creek Parkway | West Des Moines | Dallas | IA |
9 | Loan | 1 | Towers Shopping Center | 3.1% | 100.0% | MSBNA | MSMCH | NAP | NAP | 2207 Colonial Avenue Southwest | Roanoke | Roanoke | VA | |
10 | Loan | 1 | The Hollywood Ardmore | 2.9% | 100.0% | WFB | WFB | NAP | NAP | 1850 North Whitley Avenue | Los Angeles | Los Angeles | CA | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 2.7% | 100.0% | JPMCB | JPMCB | NAP | NAP | 6845 Old Dominion Drive | McLean | Fairfax | VA |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 2.6% | 100.0% | WFB | WFB | Group 1 | NAP | 7875 Montgomery Road | Cincinnati | Hamilton | OH |
13 | Loan | 5, 18 | 1 | Wildwood Center | 2.6% | 100.0% | BSPRT | WFB | NAP | NAP | 2300 Windy Ridge Parkway | Atlanta | Cobb | GA |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 2.6% | 100.0% | WFB | WFB | NAP | NAP | 1600 South Harbor Boulevard | Anaheim | Orange | CA |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 2.5% | 100.0% | BANA | BANA | NAP | NAP | 6210 and 6230 Stoneridge Mall Road | Pleasanton | Alameda | CA |
16 | Loan | 5, D | 1 | Gallup HQ | 2.5% | 100.0% | JPMCB | JPMCB | NAP | NAP | 1001 Gallup Drive | Omaha | Douglas | NE |
17 | Loan | 1 | 2801 & 2815 Townsgate | 2.4% | 100.0% | BANA | BANA | NAP | NAP | 2801 and 2815 Townsgate Road | Thousand Oaks | Ventura | CA | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 2.2% | 100.0% | JPMCB | JPMCB | NAP | NAP | 4545 Fisher Road | Columbus | Franklin | OH |
19 | Loan | 21 | 1 | H-Mart Plaza | 2.1% | 100.0% | BANA | BANA | NAP | NAP | 260 Bergen Turnpike | Little Ferry | Bergen | NJ |
20 | Loan | 1 | 150 2nd Avenue North | 2.1% | 100.0% | WFB | WFB | NAP | NAP | 148-150 2nd Avenue North | Nashville | Davidson | TN | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 2.1% | 100.0% | BANA | BANA | NAP | NAP | 300 South Court Street | Visalia | Tulare | CA |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 1.8% | MSBNA | MSMCH | NAP | NAP | Various | Dover | Kent | DE | |
22.01 | Property | 1 | Silver Lake Office Park | 1.4% | 74.5% | 800-861 Silver Lake Boulevard | Dover | Kent | DE | |||||
22.02 | Property | 1 | 100 Enterprise Place | 0.5% | 25.5% | 100 Enterprise Place | Dover | Kent | DE | |||||
23 | Loan | 1 | Chapel Hill Industrial Park | 1.8% | 100.0% | WFB | WFB | NAP | NAP | 2000 Brittain Road | Akron | Summit | OH | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 1.7% | 100.0% | JPMCB | JPMCB | NAP | NAP | 1200-1210 South Santa Fe Avenue and 2416 East 8th Street | Los Angeles | Los Angeles | CA |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 1.6% | 100.0% | MSBNA | MSMCH | NAP | NAP | 5665 Hollister Avenue | Goleta | Santa Barbara | CA |
26 | Loan | F | 1 | Innovation Business Park 7 | 1.5% | 100.0% | BANA | BANA | NAP | NAP | 1501 Innovation Boulevard | Hutto | Williamson | TX |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 1.0% | 100.0% | MSBNA | MSMCH | NAP | NAP | 1903 West Empire Avenue | Burbank | Los Angeles | CA | |
28 | Loan | 1 | Harmony Place MHC | 0.8% | 100.0% | MSBNA | MSMCH | NAP | NAP | 8018 Richmond Highway | Alexandria | Fairfax | VA | |
29 | Loan | G | 1 | Foothill Villa | 0.8% | 100.0% | MSBNA | MSMCH | NAP | NAP | 13710 1-42 Foothill Boulevard | Los Angeles | Los Angeles | CA |
30 | Loan | H | 1 | Spring Valley Town Center | 0.7% | 100.0% | MSBNA | MSMCH | NAP | NAP | 4122-4252 South Rainbow Boulevard and 6775-6885 West Flamingo Road | Las Vegas | Clark | NV |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 0.6% | WFB | WFB | NAP | NAP | Various | Various | Various | NY | |
31.01 | Property | 1 | Abenaki Mobile Home Park | 0.3% | 42.3% | Abenaki Road, 12 Susan Lane | Plattsburgh | Clinton | NY | |||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | 0.2% | 31.3% | 268 O'Neil Road | West Chazy | Clinton | NY | |||||
31.03 | Property | 1 | Intown MHP | 0.1% | 15.7% | 115 South Peru Street | Plattsburgh | Clinton | NY | |||||
31.04 | Property | 1 | Bolton Acres MHP | 0.1% | 10.7% | 2 Dicks Place | Chesterfield | Essex | NY | |||||
32 | Loan | 1 | 101-107 Industrial Ave | 0.5% | 100.0% | MSBNA | MSMCH | NAP | NAP | 101 and 107 Industrial Avenue | Little Ferry | Bergen | NJ | |
33 | Loan | 28 | 1 | 22 East 177th Street | 0.5% | 100.0% | MSBNA | MSMCH | Group 2 | NAP | 22 East 177th Street | Bronx | Bronx | NY |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 0.5% | 100.0% | MSBNA | MSMCH | Group 2 | NAP | 1681 Eastburn Avenue | Bronx | Bronx | NY |
35 | Loan | 1 | Sunset King Lake | 0.4% | 100.0% | BANA | BANA | NAP | NAP | 366 Paradise Island Drive | DeFuniak Springs | Walton | FL | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 0.3% | 100.0% | WFB | WFB | NAP | NAP | 320 Waverly Road | Pawley's Island | Georgetown | SC | |
37 | Loan | 1 | Stor365 | 0.2% | 100.0% | WFB | WFB | NAP | NAP | 6115 Telegraph Road | Toledo | Lucas | OH |
A-1-1 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Zip Code | General Property Type | Detailed Property Type | Year Built | Year Renovated | Number of Units | Unit of Measure | Loan Per Unit ($) | Original Balance ($) | Cut-off Date Balance ($) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 92802 | Hospitality | Full Service | 1981, 1983, 2007 | 2018 | 1,030 | Rooms | 121,359.22 | 110,000,000 | 110,000,000 |
2 | Loan | 1 | 2001 K Street | 20006 | Office | CBD | 2000 | 2017-2019 | 248,238 | SF | 382.70 | 95,000,000 | 95,000,000 | |
3 | Loan | 1 | Cira Square | 19104 | Office | CBD | 1935 | 2010 | 862,692 | SF | 104.32 | 90,000,000 | 90,000,000 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 77024 | Retail | Anchored | 1999 | 2011 | 351,567 | SF | 199.11 | 70,000,000 | 70,000,000 |
5 | Loan | 10, B | 1 | Woodyard Crossing | 20735 | Retail | Anchored | 1995 | NAP | 486,894 | SF | 127.34 | 62,000,000 | 62,000,000 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 90212 | Retail | Single Tenant | 1993 | 2023 | 114,978 | SF | 782.76 | 61,365,000 | 61,365,000 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 10022 | Office | CBD | 1950 | 2012-2023 | 481,245 | SF | 207.79 | 60,000,000 | 60,000,000 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 50266 | Retail | Super Regional Mall | 2004 | NAP | 940,038 | SF | 180.84 | 58,000,000 | 58,000,000 |
9 | Loan | 1 | Towers Shopping Center | 24015 | Retail | Anchored | 1960 | 2010, 2014, 2018/2019, 2023 | 291,244 | SF | 120.17 | 35,000,000 | 35,000,000 | |
10 | Loan | 1 | The Hollywood Ardmore | 90028 | Multifamily | High Rise | 1962 | 2015 | 207 | Units | 163,043.48 | 33,750,000 | 33,750,000 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 22101 | Hospitality | Extended Stay | 2001 | 2016-2017 | 142 | Rooms | 216,901.41 | 30,800,000 | 30,800,000 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 45236 | Retail | Super Regional Mall | 1958 | 1988, 2003, 2009, 2019-2023 | 1,033,141 | SF | 251.66 | 30,000,000 | 30,000,000 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 30339 | Office | Suburban | 1987 | NAP | 668,082 | SF | 97.29 | 30,000,000 | 30,000,000 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 92802 | Hospitality | Limited Service | 1984 | 1990 | 147 | Rooms | 200,680.27 | 29,500,000 | 29,500,000 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 94588 | Mixed Use | Office/Lab | 2001 | 2023 | 295,306 | SF | 222.82 | 28,700,000 | 28,700,000 |
16 | Loan | 5, D | 1 | Gallup HQ | 68102 | Office | CBD | 2002 | 2020 | 385,348 | SF | 185.55 | 28,600,000 | 28,600,000 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 91361 | Office | Suburban | 1985, 2001 | 2020 | 195,730 | SF | 140.50 | 27,500,000 | 27,500,000 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 43228 | Industrial | Warehouse | 1976 | 2012-2023 | 2,183,325 | SF | 28.40 | 24,800,000 | 24,800,000 |
19 | Loan | 21 | 1 | H-Mart Plaza | 07643 | Retail | Anchored | 1974 | 2021 | 129,329 | SF | 189.48 | 24,505,000 | 24,505,000 |
20 | Loan | 1 | 150 2nd Avenue North | 37201 | Mixed Use | Office/Retail | 1900 | 2017, 2023 | 84,663 | SF | 289.38 | 24,500,000 | 24,500,000 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 93291 | Hospitality | Full Service | 1990 | 2019 | 197 | Rooms | 121,827.41 | 24,000,000 | 24,000,000 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 19904 | Various | Various | Various | NAP | 226,252 | SF | 92.82 | 21,000,000 | 21,000,000 |
22.01 | Property | 1 | Silver Lake Office Park | 19904 | Office | Suburban | 1982, 1983, 1987, 1989 | NAP | 170,952 | SF | 15,654,123 | 15,654,123 | ||
22.02 | Property | 1 | 100 Enterprise Place | 19904 | Industrial | Flex | 1982 | NAP | 55,300 | SF | 5,345,877 | 5,345,877 | ||
23 | Loan | 1 | Chapel Hill Industrial Park | 44310 | Industrial | Warehouse | 1966 | 2022 | 587,851 | SF | 35.72 | 21,000,000 | 21,000,000 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 90021 | Mixed Use | Multifamily/Retail | 1923 | 2015 | 52 | Units | 384,423.08 | 19,990,000 | 19,990,000 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 93117 | Hospitality | Limited Service | 2007 | NAP | 101 | Rooms | 178,217.82 | 18,000,000 | 18,000,000 |
26 | Loan | F | 1 | Innovation Business Park 7 | 78634 | Industrial | Warehouse | 2024 | NAP | 212,832 | SF | 82.22 | 17,500,000 | 17,500,000 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 91504 | Retail | Single Tenant | 1943 | 2009 | 47,000 | SF | 236.28 | 11,105,000 | 11,105,000 | |
28 | Loan | 1 | Harmony Place MHC | 22306 | Manufactured Housing | Manufactured Housing/RV Park | 1938 | NAP | 90 | Pads | 103,022.22 | 9,272,000 | 9,272,000 | |
29 | Loan | G | 1 | Foothill Villa | 91342 | Multifamily | Low Rise | 2023 | NAP | 42 | Units | 209,523.81 | 8,800,000 | 8,800,000 |
30 | Loan | H | 1 | Spring Valley Town Center | 89103 | Retail | Shadow Anchored | 1974, 1979, 1991, 2000 | NAP | 60,105 | SF | 129.67 | 7,800,000 | 7,793,970 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | Various | Manufactured Housing | Manufactured Housing | Various | Various | 246 | Pads | 27,845.53 | 6,850,000 | 6,850,000 |
31.01 | Property | 1 | Abenaki Mobile Home Park | 12901 | Manufactured Housing | Manufactured Housing | 1960 | NAP | 109 | Pads | 2,900,000 | 2,900,000 | ||
31.02 | Property | 1 | Stony Acres Mobile Home Park | 12992 | Manufactured Housing | Manufactured Housing | 1971 | NAP | 76 | Pads | 2,145,000 | 2,145,000 | ||
31.03 | Property | 1 | Intown MHP | 12901 | Manufactured Housing | Manufactured Housing | 1968 | NAP | 39 | Pads | 1,075,000 | 1,075,000 | ||
31.04 | Property | 1 | Bolton Acres MHP | 12944 | Manufactured Housing | Manufactured Housing | 1943 | NAP | 22 | Pads | 730,000 | 730,000 | ||
32 | Loan | 1 | 101-107 Industrial Ave | 07643 | Industrial | Warehouse | 1950 | 2017 | 49,073 | SF | 128.38 | 6,300,000 | 6,300,000 | |
33 | Loan | 28 | 1 | 22 East 177th Street | 10453 | Multifamily | Low Rise | 1930 | 2023 | 18 | Units | 297,777.78 | 5,360,000 | 5,360,000 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 10457 | Multifamily | Low Rise | 1930 | 2023 | 17 | Units | 305,882.35 | 5,200,000 | 5,200,000 |
35 | Loan | 1 | Sunset King Lake | 32433 | Manufactured Housing | RV Park | 1970 | 2021 | 186 | Pads | 25,537.63 | 4,750,000 | 4,750,000 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 29585 | Self Storage | Self Storage | 2003 | NAP | 30,734 | SF | 101.68 | 3,125,000 | 3,125,000 | |
37 | Loan | 1 | Stor365 | 43612 | Self Storage | Self Storage | 1983 | 2018 | 39,415 | SF | 54.29 | 2,140,000 | 2,140,000 |
A-1-2 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Maturity/ARD Balance ($) | Interest Rate % | Administrative Fee Rate %(3) | Net Mortgage Rate % | Monthly Debt Service (P&I) ($) | Monthly Debt Service (IO) ($) | Annual Debt Service (P&I) ($) | Annual Debt Service (IO) ($) | Amortization Type | ARD Loan (Yes / No) | Interest Accrual Method | Original Interest-Only Period (Mos.) | Remaining Interest-Only Period (Mos.) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 110,000,000 | 6.37300% | 0.01503% | 6.35797% | NAP | 592,305.44 | NAP | 7,107,665.28 | Interest Only | No | Actual/360 | 60 | 60 |
2 | Loan | 1 | 2001 K Street | 95,000,000 | 7.38800% | 0.01503% | 7.37297% | NAP | 593,006.71 | NAP | 7,116,080.52 | Interest Only | No | Actual/360 | 60 | 59 | |
3 | Loan | 1 | Cira Square | 90,000,000 | 6.85129277777778% | 0.01503% | 6.83626277777778% | NAP | 520,983.72 | NAP | 6,251,804.64 | Interest Only | No | Actual/360 | 60 | 60 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 70,000,000 | 7.27000% | 0.01503% | 7.25497% | NAP | 429,973.38 | NAP | 5,159,680.56 | Interest Only | No | Actual/360 | 60 | 58 |
5 | Loan | 10, B | 1 | Woodyard Crossing | 62,000,000 | 6.58000% | 0.01503% | 6.56497% | NAP | 344,688.43 | NAP | 4,136,261.16 | Interest Only | No | Actual/360 | 60 | 59 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 61,365,000 | 7.66300% | 0.01378% | 7.64922% | NAP | 397,309.26 | NAP | 4,767,711.12 | Interest Only | No | Actual/360 | 60 | 60 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 60,000,000 | 6.88200% | 0.01503% | 6.86697% | NAP | 348,879.17 | NAP | 4,186,550.04 | Interest Only | No | Actual/360 | 60 | 60 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 58,000,000 | 7.02000% | 0.01503% | 7.00497% | NAP | 344,012.50 | NAP | 4,128,150.00 | Interest Only | No | Actual/360 | 60 | 56 |
9 | Loan | 1 | Towers Shopping Center | 35,000,000 | 6.57000% | 0.01503% | 6.55497% | NAP | 194,286.46 | NAP | 2,331,437.52 | Interest Only | No | Actual/360 | 60 | 60 | |
10 | Loan | 1 | The Hollywood Ardmore | 33,750,000 | 6.53600% | 0.01503% | 6.52097% | NAP | 186,378.13 | NAP | 2,236,537.56 | Interest Only | No | Actual/360 | 60 | 59 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 30,800,000 | 8.41200% | 0.01378% | 8.39822% | NAP | 218,906.72 | NAP | 2,626,880.64 | Interest Only | No | Actual/360 | 60 | 60 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 30,000,000 | 6.27100% | 0.01503% | 6.25597% | NAP | 158,952.43 | NAP | 1,907,429.16 | Interest Only | No | Actual/360 | 60 | 57 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 30,000,000 | 7.98000% | 0.01378% | 7.96622% | NAP | 202,270.83 | NAP | 2,427,249.96 | Interest Only | No | Actual/360 | 60 | 57 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 29,500,000 | 6.95100% | 0.01503% | 6.93597% | NAP | 173,252.07 | NAP | 2,079,024.84 | Interest Only | No | Actual/360 | 60 | 59 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 28,700,000 | 7.78000% | 0.01378% | 7.76622% | NAP | 188,656.00 | NAP | 2,263,872.00 | Interest Only | No | Actual/360 | 60 | 59 |
16 | Loan | 5, D | 1 | Gallup HQ | 28,600,000 | 7.29900% | 0.01378% | 7.28522% | NAP | 176,375.60 | NAP | 2,116,507.20 | Interest Only | No | Actual/360 | 60 | 59 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 27,500,000 | 7.27000% | 0.01503% | 7.25497% | NAP | 168,918.11 | NAP | 2,027,017.32 | Interest Only | No | Actual/360 | 60 | 60 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 24,800,000 | 7.04000% | 0.01378% | 7.02622% | NAP | 147,514.07 | NAP | 1,770,168.84 | Interest Only | No | Actual/360 | 60 | 59 |
19 | Loan | 21 | 1 | H-Mart Plaza | 24,505,000 | 6.92900% | 0.01503% | 6.91397% | NAP | 143,461.18 | NAP | 1,721,534.16 | Interest Only | No | Actual/360 | 60 | 60 |
20 | Loan | 1 | 150 2nd Avenue North | 24,500,000 | 7.53000% | 0.01503% | 7.51497% | NAP | 155,872.74 | NAP | 1,870,472.88 | Interest Only | No | Actual/360 | 60 | 59 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 24,000,000 | 7.84700% | 0.01503% | 7.83197% | NAP | 159,119.72 | NAP | 1,909,436.64 | Interest Only | No | Actual/360 | 60 | 59 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 21,000,000 | 7.47000% | 0.01503% | 7.45497% | NAP | 132,540.63 | NAP | 1,590,487.56 | Interest Only | No | Actual/360 | 60 | 59 |
22.01 | Property | 1 | Silver Lake Office Park | 15,654,123 | |||||||||||||
22.02 | Property | 1 | 100 Enterprise Place | 5,345,877 | |||||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | 21,000,000 | 6.49500% | 0.04253% | 6.45247% | NAP | 115,241.15 | NAP | 1,382,893.80 | Interest Only | No | Actual/360 | 60 | 59 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 19,990,000 | 7.09000% | 0.01378% | 7.07622% | NAP | 119,747.97 | NAP | 1,436,975.64 | Interest Only | No | Actual/360 | 60 | 60 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 18,000,000 | 8.04000% | 0.01503% | 8.02497% | NAP | 122,275.00 | NAP | 1,467,300.00 | Interest Only | No | Actual/360 | 60 | 60 |
26 | Loan | F | 1 | Innovation Business Park 7 | 17,500,000 | 9.30200% | 0.01503% | 9.28697% | NAP | 137,538.25 | NAP | 1,650,459.00 | Interest Only | No | Actual/360 | 60 | 59 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 10,541,229 | 7.10000% | 0.01503% | 7.08497% | 74,629.15 | NAP | 895,549.80 | NAP | Amortizing Balloon | No | Actual/360 | 0 | 0 | |
28 | Loan | 1 | Harmony Place MHC | 9,272,000 | 7.14000% | 0.07253% | 7.06747% | NAP | 55,934.63 | NAP | 671,215.56 | Interest Only | No | Actual/360 | 60 | 59 | |
29 | Loan | G | 1 | Foothill Villa | 8,800,000 | 6.85000% | 0.01503% | 6.83497% | NAP | 50,931.02 | NAP | 611,172.24 | Interest Only | No | Actual/360 | 60 | 60 |
30 | Loan | H | 1 | Spring Valley Town Center | 7,331,527 | 6.26000% | 0.01503% | 6.24497% | 48,076.68 | NAP | 576,920.16 | NAP | Amortizing Balloon | No | Actual/360 | 0 | 0 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 6,850,000 | 7.36500% | 0.01503% | 7.34997% | NAP | 42,625.79 | NAP | 511,509.48 | Interest Only | No | Actual/360 | 60 | 58 |
31.01 | Property | 1 | Abenaki Mobile Home Park | 2,900,000 | |||||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | 2,145,000 | |||||||||||||
31.03 | Property | 1 | Intown MHP | 1,075,000 | |||||||||||||
31.04 | Property | 1 | Bolton Acres MHP | 730,000 | |||||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | 6,300,000 | 7.38000% | 0.01503% | 7.36497% | NAP | 39,283.13 | NAP | 471,397.56 | Interest Only | No | Actual/360 | 60 | 60 | |
33 | Loan | 28 | 1 | 22 East 177th Street | 5,360,000 | 7.07000% | 0.01503% | 7.05497% | NAP | 32,017.94 | NAP | 384,215.28 | Interest Only | No | Actual/360 | 60 | 60 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 5,200,000 | 6.92000% | 0.01503% | 6.90497% | NAP | 30,403.15 | NAP | 364,837.80 | Interest Only | No | Actual/360 | 60 | 59 |
35 | Loan | 1 | Sunset King Lake | 4,750,000 | 7.80000% | 0.01503% | 7.78497% | NAP | 31,303.82 | NAP | 375,645.84 | Interest Only | No | Actual/360 | 60 | 60 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 3,125,000 | 6.73500% | 0.01503% | 6.71997% | NAP | 17,782.66 | NAP | 213,391.92 | Interest Only | No | Actual/360 | 60 | 60 | |
37 | Loan | 1 | Stor365 | 2,140,000 | 7.98700% | 0.01503% | 7.97197% | NAP | 14,441.31 | NAP | 173,295.72 | Interest Only | No | Actual/360 | 60 | 59 |
A-1-3 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Original Term To Maturity / ARD (Mos.) | Remaining Term To Maturity / ARD (Mos.) | Original Amortization Term (Mos.) | Remaining Amortization Term (Mos.) | Origination Date | Seasoning (Mos.) | Payment Due Date | First Payment Date | First P&I Payment Date | Maturity Date or Anticipated Repayment Date | Final Maturity Date | Grace Period to Late Charge (Days) | Grace Period to Default (Days) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 60 | 60 | 0 | 0 | 5/17/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 3 |
2 | Loan | 1 | 2001 K Street | 60 | 59 | 0 | 0 | 5/9/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 0 | 0 | |
3 | Loan | 1 | Cira Square | 60 | 60 | 0 | 0 | 5/6/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 0 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 60 | 58 | 0 | 0 | 4/8/2024 | 2 | 11 | 5/11/2024 | NAP | 4/11/2029 | NAP | 0 | 0 |
5 | Loan | 10, B | 1 | Woodyard Crossing | 60 | 59 | 0 | 0 | 4/4/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 0 | 5 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 60 | 60 | 0 | 0 | 5/13/2024 | 0 | 5 | 7/5/2024 | NAP | 6/5/2029 | NAP | 0 | 0 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 60 | 60 | 0 | 0 | 5/14/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 5 | 5 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 60 | 56 | 0 | 0 | 2/1/2024 | 4 | 1 | 3/1/2024 | NAP | 2/1/2029 | NAP | 0 | 0 |
9 | Loan | 1 | Towers Shopping Center | 60 | 60 | 0 | 0 | 5/6/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 5 | 5 | |
10 | Loan | 1 | The Hollywood Ardmore | 60 | 59 | 0 | 0 | 5/10/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 0 | 0 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 60 | 60 | 0 | 0 | 5/10/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 0 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 60 | 57 | 0 | 0 | 2/9/2024 | 3 | 1 | 4/1/2024 | NAP | 3/1/2029 | NAP | 0 | 0 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 60 | 57 | 0 | 0 | 2/26/2024 | 3 | 6 | 4/6/2024 | NAP | 3/6/2029 | NAP | 0 | 0 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 60 | 59 | 0 | 0 | 5/1/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 0 | 0 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 60 | 59 | 0 | 0 | 5/6/2024 | 1 | 6 | 6/6/2024 | NAP | 5/6/2029 | NAP | 0 | 0 |
16 | Loan | 5, D | 1 | Gallup HQ | 60 | 59 | 0 | 0 | 4/30/2024 | 1 | 6 | 6/6/2024 | NAP | 5/6/2029 | NAP | 0 | 0 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 60 | 60 | 0 | 0 | 5/10/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 3 | 3 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 60 | 59 | 0 | 0 | 4/19/2024 | 1 | 5 | 6/5/2024 | NAP | 5/5/2029 | NAP | 0 | 0 |
19 | Loan | 21 | 1 | H-Mart Plaza | 60 | 60 | 0 | 0 | 5/15/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 0 |
20 | Loan | 1 | 150 2nd Avenue North | 60 | 59 | 0 | 0 | 5/6/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 0 | 0 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 60 | 59 | 0 | 0 | 4/30/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 5 | 4 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 60 | 59 | 0 | 0 | 4/19/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 0 | 5 |
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | 60 | 59 | 0 | 0 | 5/9/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 5 | 0 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 60 | 60 | 0 | 0 | 5/9/2024 | 0 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 60 | 60 | 0 | 0 | 5/13/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 5 |
26 | Loan | F | 1 | Innovation Business Park 7 | 60 | 59 | 0 | 0 | 4/12/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 0 | 0 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 60 | 60 | 360 | 360 | 5/7/2024 | 0 | 1 | 7/1/2024 | 7/1/2024 | 6/1/2029 | NAP | 5 | 5 | |
28 | Loan | 1 | Harmony Place MHC | 60 | 59 | 0 | 0 | 4/11/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 5 | 5 | |
29 | Loan | G | 1 | Foothill Villa | 60 | 60 | 0 | 0 | 5/6/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 5 | 5 |
30 | Loan | H | 1 | Spring Valley Town Center | 60 | 59 | 360 | 359 | 4/5/2024 | 1 | 1 | 6/1/2024 | 6/1/2024 | 5/1/2029 | NAP | 5 | 5 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 60 | 58 | 0 | 0 | 4/11/2024 | 2 | 11 | 5/11/2024 | NAP | 4/11/2029 | NAP | 0 | 0 |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | 60 | 60 | 0 | 0 | 5/3/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 5 | 5 | |
33 | Loan | 28 | 1 | 22 East 177th Street | 60 | 60 | 0 | 0 | 5/13/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 0 | 5 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 60 | 59 | 0 | 0 | 4/12/2024 | 1 | 1 | 6/1/2024 | NAP | 5/1/2029 | NAP | 0 | 5 |
35 | Loan | 1 | Sunset King Lake | 60 | 60 | 0 | 0 | 5/2/2024 | 0 | 1 | 7/1/2024 | NAP | 6/1/2029 | NAP | 5 | 4 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 60 | 60 | 0 | 0 | 5/10/2024 | 0 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | |
37 | Loan | 1 | Stor365 | 60 | 59 | 0 | 0 | 4/16/2024 | 1 | 11 | 6/11/2024 | NAP | 5/11/2029 | NAP | 0 | 0 |
A-1-4 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Prepayment Provisions (No. of Payments) | Most Recent EGI ($) | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent NOI Date | Most Recent Description | Second Most Recent EGI ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent NOI Date | Second Most Recent Description |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | L(24),DorYM1(29),O(7) | 10,306,767 | 0 | 10,306,767 | 12/31/2023 | T-12 | 10,306,767 | 0 | 10,306,767 | 12/31/2022 | T-12 |
2 | Loan | 1 | 2001 K Street | L(25),D(28),O(7) | 14,069,474 | 7,245,881 | 6,823,593 | 12/31/2023 | T-12 | 12,623,905 | 7,339,267 | 5,284,638 | 12/31/2022 | T-12 | |
3 | Loan | 1 | Cira Square | L(24),D(30),O(6) | 32,088,096 | 11,947,746 | 20,140,350 | 12/31/2023 | T-12 | 31,820,828 | 12,161,732 | 19,659,096 | 12/31/2022 | T-12 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | L(26),D(30),O(4) | 11,993,888 | 5,413,299 | 6,580,590 | 12/31/2023 | T-12 | 12,395,581 | 5,618,228 | 6,777,353 | 12/31/2022 | T-12 |
5 | Loan | 10, B | 1 | Woodyard Crossing | L(23),YM1(32),O(5) | 8,906,708 | 3,068,434 | 5,838,275 | 12/31/2023 | T-12 | 8,981,207 | 3,110,408 | 5,870,800 | 12/31/2022 | T-12 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | L(24),D(30),O(6) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | L(24),D(31),O(5) | 19,483,978 | 13,079,611 | 6,404,367 | 2/29/2024 | T-12 | 19,409,060 | 13,257,252 | 6,151,808 | 12/31/2023 | T-12 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | L(28),D(28),O(4) | 38,499,461 | 14,452,236 | 24,047,225 | 12/31/2023 | T-12 | 34,880,800 | 13,031,356 | 21,849,444 | 12/31/2022 | T-12 |
9 | Loan | 1 | Towers Shopping Center | L(24),D(29),O(7) | 5,294,815 | 1,743,472 | 3,551,343 | 12/31/2023 | T-12 | 5,342,185 | 1,651,773 | 3,690,412 | 12/31/2022 | T-12 | |
10 | Loan | 1 | The Hollywood Ardmore | L(25),D(31),O(4) | 6,393,102 | 3,020,021 | 3,373,081 | 3/31/2024 | T-12 | 5,809,558 | 3,081,215 | 2,728,343 | 12/31/2023 | T-12 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | L(25),YM1(30),O(5) | 7,884,927 | 3,931,899 | 3,953,028 | 3/31/2024 | T-12 | 7,591,128 | 3,752,477 | 3,838,651 | 12/31/2023 | T-12 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | L(27),D(26),O(7) | 51,156,712 | 13,470,861 | 37,685,851 | 12/31/2023 | T-12 | 50,448,758 | 13,294,184 | 37,154,574 | 12/31/2022 | T-12 |
13 | Loan | 5, 18 | 1 | Wildwood Center | L(27),D(29),O(4) | 13,009,482 | 5,614,290 | 7,395,191 | 12/31/2023 | T-12 | 11,834,267 | 5,204,998 | 6,629,269 | 12/31/2022 | T-12 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | L(25),D(31),O(4) | 11,760,997 | 5,270,956 | 6,490,041 | 3/31/2024 | T-12 | 11,504,816 | 5,277,941 | 6,226,875 | 12/31/2023 | T-12 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | L(25),D(31),O(4) | 13,669,626 | 6,255,061 | 7,414,565 | 3/31/2024 | T-12 | 13,049,651 | 6,096,756 | 6,952,895 | 12/31/2023 | T-12 |
16 | Loan | 5, D | 1 | Gallup HQ | L(12),YM1(13),DorYM1(30),O(5) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
17 | Loan | 1 | 2801 & 2815 Townsgate | L(24),D(29),O(7) | 5,225,053 | 2,144,137 | 3,080,916 | 12/31/2023 | T-12 | 4,878,530 | 2,108,790 | 2,769,740 | 12/31/2022 | T-12 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | L(24),YM1(1),DorYM1(29),O(6) | 11,447,223 | 3,456,686 | 7,990,537 | 1/31/2024 | T-12 | 11,265,521 | 3,405,931 | 7,859,590 | 12/31/2023 | T-12 |
19 | Loan | 21 | 1 | H-Mart Plaza | L(24),D(29),O(7) | 3,500,016 | 1,805,967 | 1,694,049 | 3/31/2024 | T-12 | 3,331,334 | 1,735,710 | 1,595,624 | 12/31/2023 | T-12 |
20 | Loan | 1 | 150 2nd Avenue North | L(25),D(28),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | L(25),D(28),O(7) | 12,776,683 | 9,282,346 | 3,494,337 | 3/31/2024 | T-12 | 12,645,738 | 9,111,274 | 3,534,464 | 12/31/2023 | T-12 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | L(25),D(28),O(7) | 4,226,441 | 1,427,631 | 2,798,810 | 1/31/2024 | T-12 | 4,145,856 | 1,421,529 | 2,724,327 | 12/31/2023 | T-12 |
22.01 | Property | 1 | Silver Lake Office Park | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
22.02 | Property | 1 | 100 Enterprise Place | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
23 | Loan | 1 | Chapel Hill Industrial Park | L(25),D(31),O(4) | 1,504,070 | 840,535 | 663,535 | 12/31/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | L(24),D(29),O(7) | 2,290,668 | 535,004 | 1,755,664 | 3/31/2024 | T-12 | 2,343,108 | 560,900 | 1,782,208 | 12/31/2023 | T-12 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | L(24),D(29),O(7) | 6,754,623 | 4,182,335 | 2,572,288 | 3/31/2024 | T-12 | 6,970,415 | 4,272,810 | 2,697,605 | 12/31/2023 | T-12 |
26 | Loan | F | 1 | Innovation Business Park 7 | L(13),YM1(40),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | L(24),D(29),O(7) | 1,923,868 | 272,106 | 1,651,762 | 12/31/2023 | T-12 | 1,905,939 | 241,414 | 1,664,525 | 12/31/2022 | T-12 | |
28 | Loan | 1 | Harmony Place MHC | L(25),D(30),O(5) | 1,014,893 | 274,217 | 740,675 | 2/29/2024 | T-12 | 998,225 | 275,725 | 722,500 | 12/31/2023 | T-12 | |
29 | Loan | G | 1 | Foothill Villa | L(23),YM1(30),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
30 | Loan | H | 1 | Spring Valley Town Center | L(24),YM1(29),O(7) | 2,253,703 | 697,463 | 1,556,240 | 12/31/2023 | T-12 | 2,265,060 | 603,167 | 1,661,893 | 12/31/2022 | T-12 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | L(26),D(30),O(4) | 1,049,409 | 328,261 | 721,148 | 2/29/2024 | T-12 | 1,028,243 | 346,156 | 682,087 | 12/31/2023 | T-12 |
31.01 | Property | 1 | Abenaki Mobile Home Park | 412,328 | 153,454 | 258,875 | 2/29/2024 | T-12 | 402,550 | 178,204 | 224,346 | 12/31/2023 | T-12 | ||
31.02 | Property | 1 | Stony Acres Mobile Home Park | 309,488 | 55,379 | 254,109 | 2/29/2024 | T-12 | 303,476 | 53,749 | 249,727 | 12/31/2023 | T-12 | ||
31.03 | Property | 1 | Intown MHP | 186,941 | 50,658 | 136,284 | 2/29/2024 | T-12 | 187,699 | 47,908 | 139,791 | 12/31/2023 | T-12 | ||
31.04 | Property | 1 | Bolton Acres MHP | 140,652 | 68,771 | 71,881 | 2/29/2024 | T-12 | 134,518 | 66,294 | 68,224 | 12/31/2023 | T-12 | ||
32 | Loan | 1 | 101-107 Industrial Ave | L(24),D(32),O(4) | 800,694 | 343,645 | 457,049 | 12/31/2023 | T-12 | 690,733 | 302,621 | 388,112 | 12/31/2022 | T-12 | |
33 | Loan | 28 | 1 | 22 East 177th Street | L(24),D(32),O(4) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | L(25),D(31),O(4) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
35 | Loan | 1 | Sunset King Lake | L(24),D(32),O(4) | 1,361,265 | 821,799 | 539,466 | 3/31/2024 | T-12 | 1,317,685 | 763,022 | 554,663 | 12/31/2023 | T-12 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | L(24),D(32),O(4) | 417,676 | 163,091 | 254,585 | 2/29/2024 | T-12 | 415,053 | 169,817 | 245,236 | 12/31/2023 | T-12 | |
37 | Loan | 1 | Stor365 | L(25),D(31),O(4) | 396,740 | 180,445 | 216,295 | 12/31/2023 | T-12 | 335,425 | 160,543 | 174,882 | 12/31/2022 | T-12 |
A-1-5 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Most Recent EGI ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent NOI Date | Third Most Recent Description | Underwritten Economic Occupancy (%) | Underwritten EGI ($) | Underwritten Expenses ($) | Underwritten Net Operating Income ($) | Underwritten Replacement / FF&E Reserve ($) | Underwritten TI / LC ($) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 10,303,778 | 0 | 10,303,778 | 12/31/2021 | T-12 | NAV | 10,306,767 | 0 | 10,306,767 | 0 | 0 |
2 | Loan | 1 | 2001 K Street | 7,877,637 | 7,127,923 | 749,714 | 12/31/2021 | T-12 | 91.6% | 19,433,161 | 7,240,550 | 12,192,611 | 49,648 | 372,357 | |
3 | Loan | 1 | Cira Square | 31,615,222 | 11,475,720 | 20,139,502 | 12/31/2021 | T-12 | 97.5% | 31,552,678 | 12,386,575 | 19,166,103 | 215,673 | 862,692 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 11,036,402 | 5,298,739 | 5,737,662 | 12/31/2021 | T-12 | 95.0% | 13,365,107 | 5,428,041 | 7,937,067 | 52,934 | 163,675 |
5 | Loan | 10, B | 1 | Woodyard Crossing | 8,750,755 | 3,005,818 | 5,744,937 | 12/31/2021 | T-12 | 95.0% | 8,800,102 | 2,988,159 | 5,811,943 | 52,037 | 348,575 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | NAV | NAV | NAV | NAV | NAV | 97.0% | 16,320,592 | 4,257,401 | 12,063,191 | 17,247 | 114,978 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 23,626,906 | 13,457,905 | 10,169,001 | 12/31/2022 | T-12 | 82.6% | 27,471,037 | 11,890,811 | 15,580,226 | 95,753 | 1,973,196 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 31,769,738 | 13,191,313 | 18,578,424 | 12/31/2021 | T-12 | 98.0% | 39,618,452 | 15,095,846 | 24,522,606 | 263,211 | 940,038 |
9 | Loan | 1 | Towers Shopping Center | 5,205,651 | 1,591,288 | 3,614,363 | 12/31/2021 | T-12 | 93.3% | 5,535,020 | 1,626,310 | 3,908,710 | 43,687 | 276,785 | |
10 | Loan | 1 | The Hollywood Ardmore | 5,919,339 | 3,214,898 | 2,704,441 | 12/31/2022 | T-12 | 95.0% | 6,343,846 | 3,344,216 | 2,999,630 | 64,960 | 0 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 6,452,622 | 3,456,364 | 2,996,258 | 12/31/2022 | T-12 | 85.0% | 8,134,952 | 3,955,897 | 4,179,055 | 325,398 | 0 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 46,624,468 | 12,851,993 | 33,772,475 | 12/31/2021 | T-12 | 92.8% | 50,721,444 | 12,770,752 | 37,950,692 | 206,628 | 1,604,875 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 12,384,942 | 5,237,077 | 7,147,865 | 12/31/2021 | T-12 | 76.2% | 14,357,783 | 5,345,279 | 9,012,505 | 133,616 | 0 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 10,767,594 | 4,446,295 | 6,321,299 | 12/31/2022 | T-12 | 88.9% | 11,730,700 | 5,232,255 | 6,498,445 | 469,228 | 0 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 10,570,084 | 5,733,264 | 4,836,820 | 12/31/2022 | T-12 | 95.0% | 14,036,433 | 5,556,374 | 8,480,059 | 59,061 | 693,969 |
16 | Loan | 5, D | 1 | Gallup HQ | NAV | NAV | NAV | NAV | NAV | 95.0% | 10,749,839 | 322,495 | 10,427,344 | 57,802 | 0 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 4,682,517 | 1,981,048 | 2,701,469 | 12/31/2021 | T-12 | 86.6% | 6,073,625 | 2,171,549 | 3,902,076 | 48,933 | 351,675 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 8,717,178 | 3,254,004 | 5,463,174 | 12/31/2022 | T-12 | 92.6% | 12,831,872 | 3,531,569 | 9,300,303 | 218,333 | 467,930 |
19 | Loan | 21 | 1 | H-Mart Plaza | 2,086,274 | 1,419,330 | 666,944 | 12/31/2022 | T-12 | 95.0% | 4,230,599 | 1,766,487 | 2,464,112 | 25,866 | 96,998 |
20 | Loan | 1 | 150 2nd Avenue North | NAV | NAV | NAV | NAV | NAV | 95.0% | 3,593,627 | 803,968 | 2,789,658 | 23,706 | 84,663 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 11,835,300 | 8,753,556 | 3,081,744 | 12/31/2022 | T-12 | 75.5% | 12,722,098 | 9,457,717 | 3,264,381 | 443,867 | 0 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 3,773,678 | 1,340,056 | 2,433,622 | 12/31/2022 | T-12 | 90.1% | 4,338,455 | 1,422,120 | 2,916,335 | 45,250 | 127,250 |
22.01 | Property | 1 | Silver Lake Office Park | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
22.02 | Property | 1 | 100 Enterprise Place | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
23 | Loan | 1 | Chapel Hill Industrial Park | NAV | NAV | NAV | NAV | NAV | 87.3% | 3,358,037 | 1,390,759 | 1,967,278 | 88,178 | 88,178 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 2,296,737 | 552,975 | 1,743,762 | 12/31/2022 | T-12 | 93.5% | 2,589,828 | 662,939 | 1,926,889 | 13,000 | 26,445 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 7,185,728 | 4,048,312 | 3,137,416 | 12/31/2022 | T-12 | 81.4% | 6,754,623 | 4,065,084 | 2,689,539 | 270,185 | 0 |
26 | Loan | F | 1 | Innovation Business Park 7 | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,321,209 | 69,636 | 2,251,573 | 31,925 | 102,690 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 1,897,105 | 271,733 | 1,625,372 | 12/31/2021 | T-12 | 95.0% | 1,819,504 | 319,600 | 1,499,904 | 11,750 | 61,100 | |
28 | Loan | 1 | Harmony Place MHC | 921,809 | 262,772 | 659,037 | 12/31/2022 | T-12 | 92.2% | 1,181,028 | 267,525 | 913,504 | 7,711 | 0 | |
29 | Loan | G | 1 | Foothill Villa | NAV | NAV | NAV | NAV | NAV | 95.0% | 1,167,360 | 265,200 | 902,160 | 10,500 | 0 |
30 | Loan | H | 1 | Spring Valley Town Center | 2,105,789 | 600,595 | 1,505,194 | 12/31/2021 | T-12 | 81.9% | 2,082,680 | 692,942 | 1,389,738 | 10,218 | 108,518 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 960,347 | 384,443 | 575,904 | Various | T-12 | 81.5% | 1,101,071 | 415,527 | 685,544 | 14,000 | 0 |
31.01 | Property | 1 | Abenaki Mobile Home Park | 383,690 | 177,569 | 206,122 | 12/31/2022 | T-12 | 78.9% | 449,508 | 172,523 | 276,985 | 5,450 | 0 | |
31.02 | Property | 1 | Stony Acres Mobile Home Park | 260,227 | 91,374 | 168,853 | 12/31/2022 | T-12 | 84.9% | 320,075 | 95,412 | 224,664 | 3,800 | 0 | |
31.03 | Property | 1 | Intown MHP | 201,524 | 62,670 | 138,855 | 12/31/2022 | T-12 | 82.1% | 188,908 | 75,711 | 113,197 | 1,950 | 0 | |
31.04 | Property | 1 | Bolton Acres MHP | 114,905 | 52,830 | 62,075 | 12/31/2021 | T-12 | 82.3% | 142,581 | 71,883 | 70,698 | 2,800 | 0 | |
32 | Loan | 1 | 101-107 Industrial Ave | 616,058 | 298,402 | 317,656 | 12/31/2021 | T-12 | 91.4% | 1,015,434 | 355,427 | 660,007 | 10,099 | 39,295 | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAV | NAV | NAV | NAV | NAV | 95.0% | 614,369 | 93,505 | 520,864 | 4,500 | 0 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAV | NAV | NAV | NAV | NAV | 95.0% | 589,243 | 89,410 | 499,833 | 4,250 | 0 |
35 | Loan | 1 | Sunset King Lake | 1,264,109 | 599,861 | 664,248 | 12/31/2022 | T-12 | 81.7% | 1,380,782 | 850,908 | 529,874 | 10,743 | 0 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 404,901 | 191,240 | 213,661 | 12/31/2022 | T-12 | 95.0% | 430,420 | 152,679 | 277,742 | 3,073 | 0 | |
37 | Loan | 1 | Stor365 | 346,732 | 169,832 | 176,900 | 9/30/2021 | T-12 | 82.3% | 420,825 | 174,314 | 246,511 | 3,942 | 0 |
A-1-6 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten Net Cash Flow ($) | Underwritten NOI DSCR (x) | Underwritten NCF DSCR (x) | Underwritten NOI Debt Yield (%) | Underwritten NCF Debt Yield (%) | Appraised Value ($) | Appraised Value Type | Appraisal Date | Cut-off Date LTV Ratio (%) | LTV Ratio at Maturity / ARD (%) | Leased Occupancy (%)(2) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 10,306,767 | 1.28 | 1.28 | 8.2% | 8.2% | 190,000,000 | As Is | 4/9/2024 | 65.8% | 65.8% | 78.2% |
2 | Loan | 1 | 2001 K Street | 11,770,607 | 1.71 | 1.65 | 12.8% | 12.4% | 153,000,000 | As Is | 3/28/2024 | 62.1% | 62.1% | 89.2% | |
3 | Loan | 1 | Cira Square | 18,087,738 | 3.07 | 2.89 | 21.3% | 20.1% | 295,500,000 | As Is | 12/12/2023 | 30.5% | 30.5% | 100.0% | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 7,720,458 | 1.54 | 1.50 | 11.3% | 11.0% | 112,750,000 | As Is | 8/24/2023 | 62.1% | 62.1% | 94.9% |
5 | Loan | 10, B | 1 | Woodyard Crossing | 5,411,330 | 1.41 | 1.31 | 9.4% | 8.7% | 82,800,000 | As Is | 2/23/2024 | 74.9% | 74.9% | 99.6% |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 11,930,966 | 1.73 | 1.71 | 13.4% | 13.3% | 200,000,000 | As Is | 3/9/2024 | 45.0% | 45.0% | 100.0% |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 13,511,276 | 2.23 | 1.94 | 15.6% | 13.5% | 220,000,000 | As Is Assuming ADNY Reserves | 4/1/2024 | 45.5% | 45.5% | 86.1% |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 23,319,357 | 2.03 | 1.93 | 14.4% | 13.7% | 321,000,000 | As Is | 12/1/2023 | 53.0% | 53.0% | 97.1% |
9 | Loan | 1 | Towers Shopping Center | 3,588,238 | 1.68 | 1.54 | 11.2% | 10.3% | 54,200,000 | As Is | 3/22/2024 | 64.6% | 64.6% | 91.3% | |
10 | Loan | 1 | The Hollywood Ardmore | 2,934,671 | 1.34 | 1.31 | 8.9% | 8.7% | 64,200,000 | As Is | 3/21/2024 | 52.6% | 52.6% | 93.7% | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 3,853,657 | 1.59 | 1.47 | 13.6% | 12.5% | 44,300,000 | As If PIP Escrowed | 2/2/2024 | 69.5% | 69.5% | 85.0% |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 36,139,189 | 2.30 | 2.19 | 14.6% | 13.9% | 571,200,000 | As Is | 1/23/2024 | 45.5% | 45.5% | 95.2% |
13 | Loan | 5, 18 | 1 | Wildwood Center | 8,878,888 | 1.71 | 1.69 | 13.9% | 13.7% | 113,000,000 | As Is | 10/5/2023 | 57.5% | 57.5% | 77.2% |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 6,029,217 | 3.13 | 2.90 | 22.0% | 20.4% | 55,500,000 | As Is | 3/19/2024 | 53.2% | 53.2% | 88.9% |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 7,727,029 | 1.63 | 1.49 | 12.9% | 11.7% | 110,400,000 | As Is | 1/9/2024 | 59.6% | 59.6% | 100.0% |
16 | Loan | 5, D | 1 | Gallup HQ | 10,369,542 | 1.97 | 1.96 | 14.6% | 14.5% | 130,000,000 | As Is | 2/28/2024 | 55.0% | 55.0% | 100.0% |
17 | Loan | 1 | 2801 & 2815 Townsgate | 3,501,468 | 1.93 | 1.73 | 14.2% | 12.7% | 46,700,000 | As Is | 1/25/2024 | 58.9% | 58.9% | 86.1% | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 8,614,040 | 2.10 | 1.95 | 15.0% | 13.9% | 147,000,000 | As Is | 2/13/2024 | 42.2% | 42.2% | 88.2% |
19 | Loan | 21 | 1 | H-Mart Plaza | 2,341,248 | 1.43 | 1.36 | 10.1% | 9.6% | 37,700,000 | Prospective As Stabilized | 2/1/2025 | 65.0% | 65.0% | 100.0% |
20 | Loan | 1 | 150 2nd Avenue North | 2,681,290 | 1.49 | 1.43 | 11.4% | 10.9% | 44,000,000 | As Is | 4/9/2024 | 55.7% | 55.7% | 100.0% | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 2,820,514 | 1.71 | 1.48 | 13.6% | 11.8% | 47,100,000 | Prospective Market Value Upon Completion | 6/1/2026 | 51.0% | 51.0% | 75.5% |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 2,743,835 | 1.83 | 1.73 | 13.9% | 13.1% | 35,300,000 | As Is | 3/13/2024 | 59.5% | 59.5% | 88.7% |
22.01 | Property | 1 | Silver Lake Office Park | NAV | 26,100,000 | As Is | 3/13/2024 | 90.9% | |||||||
22.02 | Property | 1 | 100 Enterprise Place | NAV | 9,200,000 | As Is | 3/13/2024 | 81.8% | |||||||
23 | Loan | 1 | Chapel Hill Industrial Park | 1,790,923 | 1.42 | 1.30 | 9.4% | 8.5% | 31,300,000 | As Is | 2/22/2024 | 67.1% | 67.1% | 86.6% | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 1,887,443 | 1.34 | 1.31 | 9.6% | 9.4% | 33,500,000 | As Is | 3/28/2024 | 59.7% | 59.7% | 100.0% |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 2,419,354 | 1.83 | 1.65 | 14.9% | 13.4% | 33,000,000 | As Is | 3/20/2024 | 54.5% | 54.5% | 81.5% |
26 | Loan | F | 1 | Innovation Business Park 7 | 2,116,958 | 1.36 | 1.28 | 12.9% | 12.1% | 38,200,000 | As Is | 3/27/2024 | 45.8% | 45.8% | 100.0% |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 1,427,054 | 1.67 | 1.59 | 13.5% | 12.9% | 21,900,000 | As Is | 3/24/2024 | 50.7% | 48.1% | 100.0% | |
28 | Loan | 1 | Harmony Place MHC | 905,793 | 1.36 | 1.35 | 9.9% | 9.8% | 14,100,000 | As Is | 3/11/2024 | 65.8% | 65.8% | 92.2% | |
29 | Loan | G | 1 | Foothill Villa | 891,660 | 1.48 | 1.46 | 10.3% | 10.1% | 18,000,000 | As Is | 3/25/2024 | 48.9% | 48.9% | 100.0% |
30 | Loan | H | 1 | Spring Valley Town Center | 1,271,003 | 2.41 | 2.20 | 17.8% | 16.3% | 23,300,000 | As Is | 3/4/2024 | 33.5% | 31.5% | 81.3% |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 671,544 | 1.34 | 1.31 | 10.0% | 9.8% | 11,200,000 | As Is | 3/7/2024 | 61.2% | 61.2% | 82.1% |
31.01 | Property | 1 | Abenaki Mobile Home Park | 271,535 | 4,700,000 | As Is | 3/7/2024 | 79.8% | |||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | 220,864 | 3,300,000 | As Is | 3/7/2024 | 85.5% | |||||||
31.03 | Property | 1 | Intown MHP | 111,247 | 1,900,000 | As Is | 3/7/2024 | 82.1% | |||||||
31.04 | Property | 1 | Bolton Acres MHP | 67,898 | 1,300,000 | As Is | 3/7/2024 | 81.8% | |||||||
32 | Loan | 1 | 101-107 Industrial Ave | 610,613 | 1.40 | 1.30 | 10.5% | 9.7% | 10,100,000 | As Is | 3/22/2024 | 62.4% | 62.4% | 100.0% | |
33 | Loan | 28 | 1 | 22 East 177th Street | 516,364 | 1.36 | 1.34 | 9.7% | 9.6% | 8,700,000 | As Is | 4/19/2024 | 61.6% | 61.6% | 100.0% |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 495,583 | 1.37 | 1.36 | 9.6% | 9.5% | 8,200,000 | As Is | 11/17/2023 | 63.4% | 63.4% | 100.0% |
35 | Loan | 1 | Sunset King Lake | 519,131 | 1.41 | 1.38 | 11.2% | 10.9% | 9,150,000 | As Is | 3/18/2024 | 51.9% | 51.9% | 63.4% | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 274,668 | 1.30 | 1.29 | 8.9% | 8.8% | 4,650,000 | As Is | 4/1/2024 | 67.2% | 67.2% | 96.5% | |
37 | Loan | 1 | Stor365 | 242,569 | 1.42 | 1.40 | 11.5% | 11.3% | 3,500,000 | As Is | 3/6/2024 | 61.1% | 61.1% | 82.9% |
A-1-7 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Occupancy Date | Single Tenant (Y/N) | Largest Tenant | Largest Tenant SF | Largest Tenant % of NRA | Largest Tenant Lease Expiration Date(4) | Second Largest Tenant |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 12/31/2023 | NAP | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 1 | 2001 K Street | 5/6/2024 | No | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 73,528 | 29.6% | 3/31/2030 | Clifford Chance LLP | |
3 | Loan | 1 | Cira Square | 6/1/2024 | Yes | GSA - Internal Revenue Service (IRS) | 862,692 | 100.0% | 8/25/2030 | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 4/1/2024 | No | Regal Theatres | 123,576 | 35.2% | 12/31/2036 | Dave & Busters |
5 | Loan | 10, B | 1 | Woodyard Crossing | 2/27/2024 | No | Walmart | 134,247 | 27.6% | 10/24/2030 | Lowe's |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 6/1/2024 | Yes | Saks Fifth Avenue | 114,978 | 100.0% | 2/28/2049 | NAP |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 4/1/2024 | No | Archdiocese of New York | 142,308 | 29.6% | 8/31/2055 | Thompson Coburn LLP |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 12/31/2023 | No | Von Maur | 152,000 | 16.2% | 1/31/2043 | Scheels |
9 | Loan | 1 | Towers Shopping Center | 2/29/2024 | No | Kroger | 48,714 | 16.7% | 11/30/2027 | Fresh Market, Inc. | |
10 | Loan | 1 | The Hollywood Ardmore | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 3/31/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 12/31/2023 | No | Macy's | 262,829 | 25.4% | 9/10/2028 | Dillard's |
13 | Loan | 5, 18 | 1 | Wildwood Center | 1/18/2024 | No | Manhattan Associates | 209,828 | 31.4% | 9/30/2036 | Advisor Group |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 3/31/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 6/1/2024 | Yes | 10x Genomics, Inc. | 295,306 | 100.0% | 9/30/2029 (145,155 SF); 6/30/2033 (150,151 SF) | NAP |
16 | Loan | 5, D | 1 | Gallup HQ | 6/1/2024 | Yes | Gallup, Inc. | 385,348 | 100.0% | 3/31/2042 | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | 5/1/2024 | No | Bank of America, N.A. | 31,344 | 16.0% | 4/30/2028 | Musick, Peeler & Garrett LLP | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 2/28/2024 | No | Ford Motor Company | 909,287 | 41.6% | 4/30/2028 | Redhawk Global, LLC |
19 | Loan | 21 | 1 | H-Mart Plaza | 4/15/2024 | No | H-Mart | 43,939 | 34.0% | 10/31/2030 | Launch Entertainment |
20 | Loan | 1 | 150 2nd Avenue North | 4/15/2024 | No | Metro | 54,483 | 64.4% | 12/31/2033 | Mel's Drive-in | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 3/31/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 3/1/2024 | ||||||
22.01 | Property | 1 | Silver Lake Office Park | 3/1/2024 | No | Dept of Family Services | 28,128 | 16.5% | 6/30/2031 | Dept of Human Resources | |
22.02 | Property | 1 | 100 Enterprise Place | 3/1/2024 | No | Kent County Dept of Elections | 31,886 | 57.7% | 1/31/2035 | Easter Seals Delaware | |
23 | Loan | 1 | Chapel Hill Industrial Park | 4/1/2024 | No | Quantix | 160,032 | 27.2% | 5/31/2033 | Transit Works Driverge | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 4/1/2024 | No | Show Me Your Mumu, LLC | 11,060 | 48.2% | 9/30/2029 | Luv Bridal, LLC |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 3/31/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | F | 1 | Innovation Business Park 7 | 6/1/2024 | Yes | Seoyon E-HWA Texas Inc. | 212,832 | 100.0% | 3/31/2034 | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 6/1/2024 | Yes | 24 Hour Fitness | 47,000 | 100.0% | 12/31/2030 | NAP | |
28 | Loan | 1 | Harmony Place MHC | 3/31/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
29 | Loan | G | 1 | Foothill Villa | 3/1/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | 2/1/2024 | No | University Medical Center | 9,990 | 16.6% | 6/30/2025 | Leslie's Poolmart |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 4/2/2024 | ||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | 4/2/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
31.02 | Property | 1 | Stony Acres Mobile Home Park | 4/2/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
31.03 | Property | 1 | Intown MHP | 4/2/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
31.04 | Property | 1 | Bolton Acres MHP | 4/2/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
32 | Loan | 1 | 101-107 Industrial Ave | 3/26/2024 | No | GEO Distributions | 19,600 | 39.9% | 2/29/2028 | Peaceful Adult Day Care Center | |
33 | Loan | 28 | 1 | 22 East 177th Street | 4/17/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 4/11/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
35 | Loan | 1 | Sunset King Lake | 4/15/2024 | No | NAP | NAP | NAP | NAP | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 2/13/2024 | NAP | NAP | NAP | NAP | NAP | NAP | |
37 | Loan | 1 | Stor365 | 3/7/2024 | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-8 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Second Largest Tenant SF | Second Largest Tenant % of NRA | Second Largest Tenant Lease Expiration Date(4) | Third Largest Tenant | Third Largest Tenant SF | Third Largest Tenant % of NRA | Third Largest Tenant Lease Expiration Date(4) | Fourth Largest Tenant | Fourth Largest Tenant SF |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 1 | 2001 K Street | 68,292 | 27.5% | 3/31/2037 | Womble Bond Dickinson LLP | 22,635 | 9.1% | 8/31/2032 | KTGY Group, Inc. | 15,125 | |
3 | Loan | 1 | Cira Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 67,500 | 19.2% | 1/31/2036 | LA Fitness | 34,503 | 9.8% | 11/30/2026 | Sloomoo Institute | 22,180 |
5 | Loan | 10, B | 1 | Woodyard Crossing | 118,000 | 24.2% | 4/27/2026 | Safeway | 60,106 | 12.3% | 12/13/2029 | Staples | 20,000 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 44,825 | 9.3% | 6/30/2027 | Shawmut, Group, Inc. | 27,015 | 5.6% | 12/31/2038 | Sportfive Americas LLC | 18,765 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 122,025 | 13.0% | 7/31/2029 | Century Theatres | 69,914 | 7.4% | 8/31/2029 | Barnes & Noble Bookseller | 29,969 |
9 | Loan | 1 | Towers Shopping Center | 28,838 | 9.9% | 10/31/2025 | Jo-Ann Fabrics | 22,832 | 7.8% | 1/31/2027 | Planet Fitness | 14,989 | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 240,656 | 23.3% | 1/31/2029 | Arhaus Furniture | 16,925 | 1.6% | 1/31/2032 | Forever 21 | 16,638 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 43,325 | 6.5% | 6/30/2029 | Scientific Research Corp | 33,984 | 5.1% | 5/31/2027 | National Video Monitoring Co | 21,855 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
16 | Loan | 5, D | 1 | Gallup HQ | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | 9,065 | 4.6% | 1/31/2025 | Lifespan: A Center For Family Psychological Services, Inc. | 7,428 | 3.8% | 12/31/2028 | Prudential Insurance Company of America | 7,239 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 409,599 | 18.8% | 6/30/2027 | US 1 Logistics LLC | 169,871 | 7.8% | 7/31/2027 | PECO Pallet | 116,643 |
19 | Loan | 21 | 1 | H-Mart Plaza | 31,842 | 24.6% | 4/19/2035 | Planet Fitness | 14,047 | 10.9% | 7/12/2032 | Golfzon | 10,801 |
20 | Loan | 1 | 150 2nd Avenue North | 12,000 | 14.2% | 5/31/2039 | Pete's Dueling Piano Bar | 10,000 | 11.8% | 3/31/2029 | The Stable | 4,345 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | |||||||||
22.01 | Property | 1 | Silver Lake Office Park | 24,267 | 14.2% | 3/31/2035 | Office of Management & Budget - PHRST | 18,369 | 10.7% | 7/31/2035 | Dept of State - Professional Regulations | 14,579 | |
22.02 | Property | 1 | 100 Enterprise Place | 13,355 | 24.2% | 11/30/2026 | NAP | NAP | NAP | NAP | NAP | NAP | |
23 | Loan | 1 | Chapel Hill Industrial Park | 151,741 | 25.8% | 1/31/2035 | OnQ | 132,279 | 22.5% | 3/31/2029 | Famous Supply | 65,237 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 4,220 | 18.4% | 5/31/2027 | Pacific Media Ventures LLC | 2,830 | 12.3% | 8/31/2026 | Etiquette LLC | 2,264 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | Harmony Place MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | 4,250 | 7.1% | 9/30/2027 | Gracie Jiu Jitsu | 3,577 | 6.0% | 8/31/2029 | Pepe's Tacos Rainbow LLC | 2,957 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | |||||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.02 | Property | 1 | Stony Acres Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.03 | Property | 1 | Intown MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.04 | Property | 1 | Bolton Acres MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
32 | Loan | 1 | 101-107 Industrial Ave | 14,522 | 29.6% | 7/31/2029 | United Rentals (Moody's: Baa3) | 9,951 | 20.3% | 7/31/2029 | Herbalife Nutrition (S&P: B+) / Cura Resource Group | 5,000 | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
35 | Loan | 1 | Sunset King Lake | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
37 | Loan | 1 | Stor365 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-9 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Fourth Largest Tenant % of NRA | Fourth Largest Tenant Lease Expiration Date(4) | Fifth Largest Tenant | Fifth Largest Tenant SF | Fifth Largest Tenant % of NRA | Fifth Largest Tenant Lease Expiration Date(4) | Environmental Phase I Report Date | Environmental Phase II Report Date | Engineering Report Date | Seismic Report Date |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | NAP | NAP | NAP | NAP | NAP | NAP | 4/16/2024 | NAP | 4/16/2024 | 4/15/2024 |
2 | Loan | 1 | 2001 K Street | 6.1% | 8/31/2032 | EagleBank | 13,094 | 5.3% | 8/31/2025 | 11/29/2023 | NAP | 11/29/2023 | NAP | |
3 | Loan | 1 | Cira Square | NAP | NAP | NAP | NAP | NAP | NAP | 12/22/2023 | NAP | 12/22/2023 | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 6.3% | 1/31/2034 | The Improv | 10,445 | 3.0% | 1/31/2031 | 2/21/2024 | NAP | 2/23/2024 | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | 4.1% | 2/28/2025 | CVS Corp | 11,486 | 2.4% | 12/31/2027 | 3/4/2024 | NAP | 3/5/2024 | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | NAP | NAP | NAP | NAP | NAP | NAP | 3/13/2024 | NAP | 3/14/2024 | 3/13/2024 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 3.9% | 7/31/2026 | Shanholt Glassman Klein Kramer & Co. CPA'S P.C. | 16,648 | 3.5% | 9/30/2033 | 4/2/2024 | NAP | 4/2/2024 | NAP |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 3.2% | 1/31/2025 | H&M | 22,608 | 2.4% | 1/31/2032 | 12/1/2023 | NAP | 12/1/2023 | NAP |
9 | Loan | 1 | Towers Shopping Center | 5.1% | 8/31/2028 | Petco | 12,065 | 4.1% | 1/31/2026 | 3/28/2024 | NAP | 3/28/2024 | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | NAP | NAP | NAP | NAP | NAP | 4/3/2024 | NAP | 4/2/2024 | 4/2/2024 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | NAP | NAP | NAP | NAP | NAP | NAP | 3/8/2024 | NAP | 3/8/2024 | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 1.6% | MTM | Pottery Barn | 15,913 | 1.5% | 1/31/2030 | 1/17/2024 | NAP | 1/16/2024 | NAP |
13 | Loan | 5, 18 | 1 | Wildwood Center | 3.3% | 4/30/2029 | BioIQ Inc | 18,142 | 2.7% | 5/31/2026 | 10/11/2023 | NAP | 10/11/2023 | NAP |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | NAP | NAP | NAP | NAP | NAP | NAP | 3/29/2024 | NAP | 3/29/2024 | 3/29/2024 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | NAP | NAP | NAP | NAP | NAP | NAP | 1/19/2024 | NAP | 1/19/2024 | 1/19/2024 |
16 | Loan | 5, D | 1 | Gallup HQ | NAP | NAP | NAP | NAP | NAP | NAP | 2/22/2024 | NAP | 3/18/2024 | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | 3.7% | 11/30/2025 | Wood, Smith, Henning & Berman,LLP | 6,928 | 3.5% | 3/31/2025 | 4/22/2024 | NAP | 4/19/2024 | 4/19/2024 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 5.3% | 10/31/2024 | Lexington Logistics | 110,995 | 5.1% | 1/6/2025 | 3/5/2024 | NAP | 2/29/2024 | NAP |
19 | Loan | 21 | 1 | H-Mart Plaza | 8.4% | 1/6/2033 | Daiso | 6,500 | 5.0% | 2/14/2032 | 4/22/2024 | NAP | 4/22/2024 | NAP |
20 | Loan | 1 | 150 2nd Avenue North | 5.1% | 1/31/2030 | Freebirds | 3,835 | 4.5% | 7/31/2032 | 3/28/2024 | NAP | 3/28/2024 | NAP | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | NAP | NAP | NAP | NAP | NAP | NAP | 2/26/2024 | NAP | 2/26/2024 | 2/26/2024 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | ||||||||||
22.01 | Property | 1 | Silver Lake Office Park | 8.5% | 7/31/2029 | Dept of State - Public Service Commission | 14,136 | 8.3% | 7/31/2029 | 3/21/2024 | NAP | 3/21/2024 | NAP | |
22.02 | Property | 1 | 100 Enterprise Place | NAP | NAP | NAP | NAP | NAP | NAP | 3/21/2024 | NAP | 3/21/2024 | NAP | |
23 | Loan | 1 | Chapel Hill Industrial Park | 11.1% | 8/15/2031 | NAP | NAP | NAP | NAP | 3/5/2024 | NAP | 3/5/2024 | NAP | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 9.9% | 12/31/2025 | NAP | NAP | NAP | NAP | 4/2/2024 | NAP | 4/2/2024 | 4/2/2024 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | NAP | NAP | NAP | NAP | NAP | NAP | 3/21/2024 | NAP | 3/20/2024 | 3/20/2024 |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | NAP | NAP | NAP | NAP | NAP | 3/12/2024 | NAP | 3/12/2024 | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | NAP | NAP | NAP | NAP | NAP | 3/26/2024 | NAP | 3/26/2024 | 3/26/2024 | |
28 | Loan | 1 | Harmony Place MHC | NAP | NAP | NAP | NAP | NAP | NAP | 3/14/2024 | NAP | 3/14/2024 | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP | NAP | NAP | NAP | NAP | NAP | 4/8/2024 | NAP | 4/8/2024 | 4/8/2024 |
30 | Loan | H | 1 | Spring Valley Town Center | 4.9% | 7/31/2024 | Las Islitas | 2,550 | 4.2% | 3/31/2031 | 3/11/2024 | NAP | 3/11/2024 | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | ||||||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | 2/28/2024 | NAP | 2/28/2024 | NAP | |
31.02 | Property | 1 | Stony Acres Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | 2/28/2024 | NAP | 2/28/2024 | NAP | |
31.03 | Property | 1 | Intown MHP | NAP | NAP | NAP | NAP | NAP | NAP | 2/13/2024 | NAP | 2/13/2024 | NAP | |
31.04 | Property | 1 | Bolton Acres MHP | NAP | NAP | NAP | NAP | NAP | NAP | 2/13/2024 | NAP | 2/13/2024 | NAP | |
32 | Loan | 1 | 101-107 Industrial Ave | 10.2% | 1/31/2025 | NAP | NAP | NAP | NAP | 4/2/2024 | NAP | 4/3/2024 | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | NAP | NAP | NAP | NAP | NAP | 12/5/2023 | NAP | 12/5/2023 | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | NAP | NAP | NAP | NAP | NAP | 12/5/2023 | NAP | 12/5/2023 | NAP |
35 | Loan | 1 | Sunset King Lake | NAP | NAP | NAP | NAP | NAP | NAP | 3/22/2024 | NAP | 3/22/2024 | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | NAP | NAP | NAP | NAP | NAP | 3/13/2024 | NAP | 3/13/2024 | NAP | |
37 | Loan | 1 | Stor365 | NAP | NAP | NAP | NAP | NAP | NAP | 3/18/2024 | NAP | 3/15/2024 | NAP |
A-1-10 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | PML or SEL (%) | Flood Zone | Ownership Interest | Ground Lease Expiration Date | Ground Lease Extension Terms | Annual Ground Lease Payment as of the Cut-off Date ($) | Annual Ground Rent Increases (Y/N) | Upfront RE Tax Reserve ($) | Monthly RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Monthly Insurance Reserve ($) | Upfront Replacement / PIP Reserve ($) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 13% | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
2 | Loan | 1 | 2001 K Street | NAP | No | Fee | NAP | NAP | NAP | NAP | 846,042 | 282,012 | 0 | Springing | 0 | |
3 | Loan | 1 | Cira Square | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 596,880 | 149,220 | 0 | Springing | 0 |
5 | Loan | 10, B | 1 | Woodyard Crossing | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 16% | No | Leasehold | 7/31/2088 | None | 2,310,744 | Yes | 296,870 | 74,218 | 0 | Springing | 1,437 |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | NAP | No | Fee | NAP | NAP | NAP | NAP | 3,230,895 | 538,482 | 0 | Springing | 0 |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
9 | Loan | 1 | Towers Shopping Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 103,392 | 34,464 | 0 | Springing | 0 | |
10 | Loan | 1 | The Hollywood Ardmore | 25% | No | Fee | NAP | NAP | NAP | NAP | 22,836 | 11,418 | 0 | Springing | 0 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | NAP | No | Fee | NAP | NAP | NAP | NAP | 10,000 | 25,898 | 0 | Springing | 0 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
13 | Loan | 5, 18 | 1 | Wildwood Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 766,814 | 127,802 | 58,513 | 11,703 | 0 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 12% | No | Fee | NAP | NAP | NAP | NAP | 27,118 | 13,559 | 0 | Springing | 0 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 7% | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
16 | Loan | 5, D | 1 | Gallup HQ | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 10% | No | Fee | NAP | NAP | NAP | NAP | 79,256 | 39,628 | 0 | Springing | 0 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | NAP | No | Fee | NAP | NAP | NAP | NAP | 89,418 | 15,350 | 0 | Springing | 0 |
19 | Loan | 21 | 1 | H-Mart Plaza | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 252,180 | 84,060 | 3,849 | 1,283 | 0 |
20 | Loan | 1 | 150 2nd Avenue North | NAP | No | Fee | NAP | NAP | NAP | NAP | 35,131 | 8,784 | 42,758 | 8,551 | 0 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 5% | No | Fee | NAP | NAP | NAP | NAP | 54,937 | 18,312 | 0 | Springing | 0 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 249,161 | 31,145 | 9,286 | Springing | 0 | |||||||
22.01 | Property | 1 | Silver Lake Office Park | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
22.02 | Property | 1 | 100 Enterprise Place | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
23 | Loan | 1 | Chapel Hill Industrial Park | NAP | No | Fee | NAP | NAP | NAP | NAP | 134,348 | 33,587 | 0 | Springing | 0 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 16% | No | Fee | NAP | NAP | NAP | NAP | 92,301 | 23,075 | 47,122 | Springing | 1,370 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 17% | No | Fee | NAP | NAP | NAP | NAP | 165,229 | 33,046 | 8,826 | 4,413 | 0 |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 19% | No | Fee | NAP | NAP | NAP | NAP | 41,352 | 20,676 | 17,532 | 1,948 | 0 | |
28 | Loan | 1 | Harmony Place MHC | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 30,680 | 6,136 | 6,198 | 1,083 | 0 | |
29 | Loan | G | 1 | Foothill Villa | 13% | No | Fee | NAP | NAP | NAP | NAP | 36,414 | 18,207 | 9,234 | 2,308 | 0 |
30 | Loan | H | 1 | Spring Valley Town Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 20,400 | 6,800 | 0 | Springing | 10,218 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 39,657 | 13,219 | 3,333 | 3,333 | 0 | |||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
31.03 | Property | 1 | Intown MHP | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
31.04 | Property | 1 | Bolton Acres MHP | NAP | No | Fee | NAP | NAP | NAP | NAP | ||||||
32 | Loan | 1 | 101-107 Industrial Ave | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 33,690 | 16,845 | 0 | Springing | 0 | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | No | Fee | NAP | NAP | NAP | NAP | 4,749 | 1,583 | 7,753 | 775 | 0 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | No | Fee | NAP | NAP | NAP | NAP | 619 | 206 | 8,621 | 789 | 0 |
35 | Loan | 1 | Sunset King Lake | NAP | No | Fee | NAP | NAP | NAP | NAP | 16,246 | 2,031 | 0 | Springing | 10,500 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | No | Fee | NAP | NAP | NAP | NAP | 14,359 | 4,787 | 0 | Springing | 0 | |
37 | Loan | 1 | Stor365 | NAP | No | Fee | NAP | NAP | NAP | NAP | 16,740 | 3,348 | 0 | Springing | 0 |
A-1-11 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Monthly Replacement / FF&E Reserve ($) | Replacement Reserve Caps ($) | Upfront TI/LC Reserve ($) | Monthly TI/LC Reserve ($) | TI/LC Caps ($) | Upfront Debt Service Reserve ($) | Monthly Debt Service Reserve ($) | Debt Service Reserve Cap ($) | Upfront Deferred Maintenance Reserve ($) | Upfront Other Reserve ($) | Monthly Other Reserve ($) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
2 | Loan | 1 | 2001 K Street | 4,137 | 0 | 0 | 31,030 | 0 | 0 | 0 | 0 | 0 | 7,407,944 | Springing | |
3 | Loan | 1 | Cira Square | Springing | 0 | 0 | Springing | 5,000,000 | 0 | 0 | 0 | 0 | 0 | Springing | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 4,411 | 0 | 1,000,000 | Springing | 700,000 | 0 | 0 | 0 | 0 | 822,361 | 0 |
5 | Loan | 10, B | 1 | Woodyard Crossing | Springing | 73,034 | 0 | Springing | 389,515 | 0 | 0 | 0 | 0 | 1,737,379 | 0 |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 1,437 | 51,740 | 9,582 | 9,582 | 344,934 | 0 | 0 | 0 | 0 | 577,686 | Springing |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 7,979 | 95,753 | 0 | 112,153 | 2,691,664 | 0 | 0 | 0 | 0 | 31,529,176 | Springing |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | Springing | 470,019 | 0 | Springing | 1,880,076 | 0 | 0 | 0 | 0 | 5,000,000 | Springing |
9 | Loan | 1 | Towers Shopping Center | 3,639 | 131,000 | 0 | 18,308 | 659,076 | 0 | 0 | 0 | 986,125 | 205,957 | 0 | |
10 | Loan | 1 | The Hollywood Ardmore | 5,413 | 194,880 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 27,116 | 1,704,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,200,000 | Springing |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | Springing | 516,571 | 0 | 129,143 | 3,099,423 | 0 | 0 | 0 | 0 | 3,966,953 | 0 |
13 | Loan | 5, 18 | 1 | Wildwood Center | 11,135 | 0 | 6,000,000 | Springing | 3,250,000 | 0 | 0 | 0 | 65,640 | 4,384,694 | 0 |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 29,327 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 4,922 | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 8,750 | 26,890 | Springing |
16 | Loan | 5, D | 1 | Gallup HQ | Springing | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
17 | Loan | 1 | 2801 & 2815 Townsgate | 4,078 | 0 | 0 | 16,311 | 900,000 | 0 | 0 | 0 | 0 | 1,544,665 | 0 | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 0 | 0 | 0 | 45,480 | 2,000,000 | 0 | 0 | 0 | 0 | 862,381 | 0 |
19 | Loan | 21 | 1 | H-Mart Plaza | 2,156 | 0 | 966,405 | 8,083 | 0 | 0 | 0 | 0 | 0 | 950,062 | 0 |
20 | Loan | 1 | 150 2nd Avenue North | 1,976 | 0 | 0 | 7,056 | 120,000 | 0 | 0 | 0 | 0 | 1,459,240 | 0 | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 36,988 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 40,625 | 1,874,225 | 0 |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 3,771 | 0 | 500,000 | Springing | 500,000 | 0 | 0 | 0 | 4,500 | 0 | 0 |
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | 7,349 | 0 | 0 | 7,349 | 0 | 0 | 0 | 0 | 0 | 1,733,582 | 0 | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 1,370 | 49,320 | 1,912 | 1,912 | 68,832 | 0 | 0 | 0 | 0 | 0 | 0 |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 22,515 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7,500 | 2,000,000 | Springing |
26 | Loan | F | 1 | Innovation Business Park 7 | Springing | 63,850 | 0 | Springing | 212,112 | 0 | 0 | 0 | 0 | 0 | 0 |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 979 | 11,750 | 0 | 0 | 0 | 0 | 0 | 0 | 14,688 | 0 | 0 | |
28 | Loan | 1 | Harmony Place MHC | 643 | 13,750 | 0 | 0 | 0 | 0 | 0 | 0 | 1,380 | 0 | 0 | |
29 | Loan | G | 1 | Foothill Villa | 875 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,125 | 0 | 0 |
30 | Loan | H | 1 | Spring Valley Town Center | Springing | 10,218 | 42,000 | Springing | 42,000 | 0 | 0 | 0 | 232,006 | 0 | 0 |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 1,167 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31,844 | 0 | Springing |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | 613 | 0 | 0 | 3,475 | 83,424 | 0 | 0 | 0 | 5,940 | 0 | 0 | |
33 | Loan | 28 | 1 | 22 East 177th Street | 375 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 168,025 | 0 |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 354 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 92,718 | 0 |
35 | Loan | 1 | Sunset King Lake | 895 | 33,000 | 0 | 0 | 0 | 0 | 0 | 0 | 25,250 | 0 | 0 | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 256 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
37 | Loan | 1 | Stor365 | 329 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65,156 | 0 | 0 |
A-1-12 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Description |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | NAP |
2 | Loan | 1 | 2001 K Street | Rent Concession Reserve ($4,500,657); Existing TI/LC Obligations Reserve ($2,907,287); Paul Weiss Reserve (Springing) | |
3 | Loan | 1 | Cira Square | GSA Operating Agreement Reserve | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | Existing TI/LC Reserve |
5 | Loan | 10, B | 1 | Woodyard Crossing | Walmart Expansion Funds ($1,000,000); Sakura Go Free Rent Funds ($16,250); Naz Halal Free Rent Funds ($6,587.50); Outstanding TI Allowance Funds ($679,835); Outstanding Leasing Funds ($34,706.18) |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | Ground Lease Reserve |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | ADNY Rollover Funds ($22,481,687); ADNY Rent Funds ($8,462,090 LOC); Alvarez & Marsal Reserve ($585,399); Condominium Reserve (Springing) |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | General Reserve ($5,000,000); Gap Rent Reserve ($0); Anchor Tenant Reserve (Springing) |
9 | Loan | 1 | Towers Shopping Center | Outstanding Leasing Obligations ($150,932.16); Gap Rent Reserve ($55,024.88) | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | PIP Reserve |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | Existing TI/LC Reserve ($3,732,395.48); Gap Rent Reserve ($234,557.94) |
13 | Loan | 5, 18 | 1 | Wildwood Center | Free Rent Reserve ($1,331,881); Manhattan Associates Gap Rent ($2,727,102); Unfunded Obligations Reserve ($325,711.18) |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | Prepaid Rent Reserve ($26,889.94); 10x Genomics Renewal Reserve (Springing) |
16 | Loan | 5, D | 1 | Gallup HQ | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | Landlord Obligation Reserve ($1,008,527); Free Rent Reserve ($536,138) | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | Unfunded Obligations Reserve |
19 | Loan | 21 | 1 | H-Mart Plaza | Gap Rent Reserve |
20 | Loan | 1 | 150 2nd Avenue North | Rent Concession Reserve ($920,655); Existing TI/LC Reserve ($538,585) | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | PIP Reserve |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | NAP |
22.01 | Property | 1 | Silver Lake Office Park | ||
22.02 | Property | 1 | 100 Enterprise Place | ||
23 | Loan | 1 | Chapel Hill Industrial Park | Rent Concession Reserve ($36,082); Gap Rent Reserve ($77,500); Roof Funds ($1,620,000) | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | NAP |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | DSCR Cash Collateral Reserve (Upfront: $200,000; Monthly: Springing); PIP Reserve (Upfront: $1,800,000 LOC; Monthly: Springing) |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | |
28 | Loan | 1 | Harmony Place MHC | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | Springing RV Rents Reserve |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||
31.03 | Property | 1 | Intown MHP | ||
31.04 | Property | 1 | Bolton Acres MHP | ||
32 | Loan | 1 | 101-107 Industrial Ave | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | Unabated Real Estate Tax Reserve Funds ($71,971); Prepaid Rent Reserve ($96,053.75) |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | Prepaid Rent Reserve ($30,530); Unabated Real Estate Tax Reserve Funds ($62,188) |
35 | Loan | 1 | Sunset King Lake | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | |
37 | Loan | 1 | Stor365 | NAP |
A-1-13 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Cap ($) | Holdback/ Earnout Amount ($) | Holdback/ Earnout Description | Lockbox Type | Cash Management | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Tenant Specific Excess Cash Trap Trigger (Y/N) | Pari Passu (Y/N) | Pari Passu in Trust Controlling (Y/N) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 0 | 0 | NAP | Hard | In Place | No | No | Yes | Yes |
2 | Loan | 1 | 2001 K Street | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP | |
3 | Loan | 1 | Cira Square | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 0 | 0 | NAP | Soft | Springing | Yes | Yes | No | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 577,686 | 0 | NAP | Hard | Springing | No | Yes | Yes | Yes |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 0 | 0 | NAP | Hard | In Place | Yes | Yes | Yes | Yes |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 0 | 0 | NAP | Hard | Springing | Yes | No | Yes | No |
9 | Loan | 1 | Towers Shopping Center | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | 0 | 0 | NAP | Soft | Springing | Yes | No | No | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 0 | 0 | NAP | Hard | Springing | Yes | No | No | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes | No |
13 | Loan | 5, 18 | 1 | Wildwood Center | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes | Yes |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 10x Genomics Renewal Reserve ($8,250,000) | 0 | NAP | Springing | Springing | Yes | Yes | Yes | No |
16 | Loan | 5, D | 1 | Gallup HQ | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes | No |
17 | Loan | 1 | 2801 & 2815 Townsgate | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes | No |
19 | Loan | 21 | 1 | H-Mart Plaza | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP |
20 | Loan | 1 | 150 2nd Avenue North | 0 | 0 | NAP | Soft | Springing | Yes | Yes | No | NAP | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | 0 | 0 | NAP | Hard | Springing | Yes | No | No | NAP |
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No | NAP | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | 0 | 0 | NAP | Soft | Springing | Yes | No | No | NAP |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 0 | 0 | NAP | Hard | Springing | Yes | No | No | NAP |
26 | Loan | F | 1 | Innovation Business Park 7 | 0 | 0 | NAP | Hard | In Place | Yes | Yes | No | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | 0 | 0 | NAP | Hard | Springing | No | Yes | No | NAP | |
28 | Loan | 1 | Harmony Place MHC | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP | |
29 | Loan | G | 1 | Foothill Villa | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | 0 | 0 | NAP | Springing | Springing | Yes | Yes | No | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
35 | Loan | 1 | Sunset King Lake | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP | |
37 | Loan | 1 | Stor365 | 0 | 0 | NAP | Springing | Springing | Yes | No | No | NAP |
A-1-14 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Trust Pari Passu Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Subordinate Companion Loan Cut-off Date Balance ($) | Subordinate Companion Loan Interest Rate | Whole Loan Cut-off Date Balance ($) | Whole Loan Monthly Debt Service ($) | Whole Loan Cut-off Date LTV Ratio (%) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 110,000,000 | 15,000,000 | 80,768.92 | 673,074.36 | NAP | NAP | 125,000,000 | 673,074.36 | 65.8% |
2 | Loan | 1 | 2001 K Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3 | Loan | 1 | Cira Square | NAP | NAP | NAP | NAP | 45,000,000 | 11.0354144444444% | 135,000,000 | 940,559.37 | 45.7% | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 61,365,000 | 28,635,000 | 185,398.04 | 582,707.29 | NAP | NAP | 90,000,000 | 582,707.29 | 45.0% |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 60,000,000 | 40,000,000 | 232,586.11 | 581,465.28 | NAP | NAP | 100,000,000 | 581,465.28 | 45.5% |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 58,000,000 | 112,000,000 | 664,300.00 | 1,008,312.50 | NAP | NAP | 170,000,000 | 1,008,312.50 | 53.0% |
9 | Loan | 1 | Towers Shopping Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 30,000,000 | 230,000,000 | 1,218,635.30 | 1,377,587.73 | NAP | NAP | 260,000,000 | 1,377,587.73 | 45.5% |
13 | Loan | 5, 18 | 1 | Wildwood Center | 30,000,000 | 35,000,000 | 235,982.64 | 438,253.47 | NAP | NAP | 65,000,000 | 438,253.47 | 57.5% |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 28,700,000 | 37,100,000 | 243,872.38 | 432,528.38 | NAP | NAP | 65,800,000 | 432,528.38 | 59.6% |
16 | Loan | 5, D | 1 | Gallup HQ | 28,600,000 | 42,900,000 | 264,563.41 | 440,939.01 | NAP | NAP | 71,500,000 | 440,939.01 | 55.0% |
17 | Loan | 1 | 2801 & 2815 Townsgate | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 24,800,000 | 37,200,000 | 221,271.11 | 368,785.19 | NAP | NAP | 62,000,000 | 368,785.19 | 42.2% |
19 | Loan | 21 | 1 | H-Mart Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
20 | Loan | 1 | 150 2nd Avenue North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | Harmony Place MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
35 | Loan | 1 | Sunset King Lake | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
37 | Loan | 1 | Stor365 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-15 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Whole Loan Underwritten NCF DSCR (x) | Whole Loan Underwritten NOI Debt Yield (%) | Mezzanine Debt Cut-off Date Balance($) | Mezzanine Debt Interest Rate (%) | Total Debt Cut-off Date Balance ($) | Total Debt Monthly Debt Service ($) | Total Debt Cut-off Date LTV Ratio (%) | Total Debt Underwritten NCF DSCR (x) | Total Debt Underwritten NOI Debt Yield (%) | Future Additional Debt Permitted (Y/N) | Future Debt Permitted Type |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 1.28 | 8.2% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
2 | Loan | 1 | 2001 K Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
3 | Loan | 1 | Cira Square | 1.6 | 14.2% | 25,000,000 | 11.90000% | 160,000,000 | 1,191,919.32 | 54.1% | 1.26 | 12.0% | Yes | Mezzanine | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 1.71 | 13.4% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 1.94 | 15.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 1.93 | 14.4% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
9 | Loan | 1 | Towers Shopping Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 2.19 | 14.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
13 | Loan | 5, 18 | 1 | Wildwood Center | 1.69 | 13.9% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 1.49 | 12.9% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
16 | Loan | 5, D | 1 | Gallup HQ | 1.96 | 14.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | 1.95 | 15.0% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
19 | Loan | 21 | 1 | H-Mart Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
20 | Loan | 1 | 150 2nd Avenue North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
28 | Loan | 1 | Harmony Place MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
35 | Loan | 1 | Sunset King Lake | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
37 | Loan | 1 | Stor365 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
A-1-16 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sponsor |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | Tushar Patel and HRG Holdings I, LLC |
2 | Loan | 1 | 2001 K Street | Henry Elghanayan, Justin Elghanayan, Nancy Elghanayan, Adam Elga, Benjamin Elga, and Eliot Spitzer | |
3 | Loan | 1 | Cira Square | MSD Real Estate Partners, L.P., GIC Real Estate, Inc. and Brandywine Operating Partnership, L.P. | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | Herbert L. Levine |
5 | Loan | 10, B | 1 | Woodyard Crossing | Schottenstein Realty LLC and Schottenstein Property Group |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | A&H Acquisitions, Aurora Capital Associates LLC and Jenel Management Corp. |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | Feil Organization |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | Brookfield Properties Retail Holding LLC |
9 | Loan | 1 | Towers Shopping Center | Gary D. Rappaport | |
10 | Loan | 1 | The Hollywood Ardmore | SKR Holdings, LLC | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | SAK Developers |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | Brookfield Properties Retail Holding LLC and Teachers' Retirement System of the State of Illinois |
13 | Loan | 5, 18 | 1 | Wildwood Center | DT GRAT CS, LLC, The Dennis Troesh 2009 Retained Annuity Trust FBO Carrie Sarrafian, and The Carol Troesh 2009 Retained Annuity Trust FBO Carrie Sarrafian |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | Arun H. Patel and Shirish H. Patel |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | Rohit Kumar and Jayaprasad Vejendla |
16 | Loan | 5, D | 1 | Gallup HQ | Blue Owl Capital Inc. |
17 | Loan | 1 | 2801 & 2815 Townsgate | Omninet Capital, LLC | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | Industrial Commercial Properties and Industrial Realty Group |
19 | Loan | 21 | 1 | H-Mart Plaza | Norman Weisfeld, Bruce Weisfeld, Louis Tolerico, Jr. and Anthony LoConte |
20 | Loan | 1 | 150 2nd Avenue North | Jeffrey Welk | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | Amarjit Shokeen and Ramesh Shokeen |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | Menashe Frankel and Moshe Mendlowitz |
22.01 | Property | 1 | Silver Lake Office Park | ||
22.02 | Property | 1 | 100 Enterprise Place | ||
23 | Loan | 1 | Chapel Hill Industrial Park | Christopher S. Semarjian | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | Core Development Group |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | Gemini Investment Group |
26 | Loan | F | 1 | Innovation Business Park 7 | Min Ho Choi |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | Levon Dimitry Paronyan | |
28 | Loan | 1 | Harmony Place MHC | Six Rock Properties | |
29 | Loan | G | 1 | Foothill Villa | Dear Holdings, Inc. |
30 | Loan | H | 1 | Spring Valley Town Center | Kevin Glazer |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | Michael Mirski and Jay Yang |
31.01 | Property | 1 | Abenaki Mobile Home Park | ||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||
31.03 | Property | 1 | Intown MHP | ||
31.04 | Property | 1 | Bolton Acres MHP | ||
32 | Loan | 1 | 101-107 Industrial Ave | Snowball Developments | |
33 | Loan | 28 | 1 | 22 East 177th Street | Joseph E. Safdie and Chun Y. Lee |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | Joseph E. Safdie and Chun Y. Lee |
35 | Loan | 1 | Sunset King Lake | Roots Management Group, LLC | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | Mark Friedman | |
37 | Loan | 1 | Stor365 | Mandy L. Monson and Victor Manuel Diaz III |
A-1-17 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Non-Recourse Carveout Guarantor | Delaware Statutory Trust (Y/N) | Tenants-in-common (Y/N) | Loan Purpose | Property Located Within a Qualified Opportunity Zone (Y/N) | Sources: Loan Amount ($) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | Tushar Patel and HRG Holdings I, LLC | No | No | Refinance | 125,000,000 | |
2 | Loan | 1 | 2001 K Street | Rockrose General Equities Holdings L.L.C. and Eliot Spitzer | No | No | Refinance | 95,000,000 | ||
3 | Loan | 1 | Cira Square | MSD Portfolio L.P. – Investments and Brandywine Operating Partnership, L.P. | No | No | Refinance | 90,000,000 | ||
4 | Loan | 7 | 1 | MarqE Entertainment Center | Herbert L. Levine, Harris J. Pappas and Christopher J. Pappas | No | No | Refinance | 70,000,000 | |
5 | Loan | 10, B | 1 | Woodyard Crossing | Schottenstein Realty LLC | No | No | Refinance | 62,000,000 | |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | Jack Dushey | No | No | Refinance | 90,000,000 | |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | Jeffrey J. Feil | No | No | Refinance | 100,000,000 | |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | BPR Nimbus LLC | No | No | Refinance | 170,000,000 | |
9 | Loan | 1 | Towers Shopping Center | Gary D. Rappaport and The Gary D. Rappaport Revocable Trust | No | No | Refinance | 35,000,000 | ||
10 | Loan | 1 | The Hollywood Ardmore | SKR Holdings, LLC | No | No | Refinance | 33,750,000 | ||
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | Waheed Ashiq, Vipul Kapila and Khurram Sindhu | No | No | Acquisition | 30,800,000 | |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | GGP-TRS L.L.C. | No | No | Refinance | 260,000,000 | |
13 | Loan | 5, 18 | 1 | Wildwood Center | DT Grat CS, LLC | No | No | Refinance | 65,000,000 | |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | Arun H. Patel and Shirish H. Patel | No | No | Refinance | 29,500,000 | |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | Rohit Kumar and Jayaprasad Vejendla | No | Yes | Acquisition | 65,800,000 | |
16 | Loan | 5, D | 1 | Gallup HQ | Blue Owl Real Estate Fund VI LP, Blue Owl Real Estate Fund VI (A) LP and Blue Owl Real Estate Fund VI (B) LP | No | No | Recapitalization | ||
17 | Loan | 1 | 2801 & 2815 Townsgate | Neil Kadisha and Benjamin Nazarian | No | Yes | Refinance | |||
18 | Loan | 5, 20, E | 1 | Columbus Business Park | Stuart Lichter, Christopher Semarjian and John Mase | No | Yes | Refinance | ||
19 | Loan | 21 | 1 | H-Mart Plaza | Norman Weisfeld, Bruce Weisfeld, Louis Tolerico, Jr. and Anthony LoConte | No | Yes | Refinance | ||
20 | Loan | 1 | 150 2nd Avenue North | Jeffrey Welk and Lawrence Leroy Welk | No | No | Refinance | |||
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | Amar Shokeen | No | No | Refinance | ||
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | Menashe Frankel and Moshe Mendlowitz | No | Yes | Refinance | ||
22.01 | Property | 1 | Silver Lake Office Park | |||||||
22.02 | Property | 1 | 100 Enterprise Place | |||||||
23 | Loan | 1 | Chapel Hill Industrial Park | Christopher S. Semarjian | No | No | Refinance | |||
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | Philip Rahimzadeh | No | No | Refinance | ||
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | Joseph A. Magliarditi | No | No | Acquisition | ||
26 | Loan | F | 1 | Innovation Business Park 7 | American Investment Return Opportunity Fund, LP | No | No | Acquisition | ||
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | Levon Dimitry Paronyan | No | No | Refinance | |||
28 | Loan | 1 | Harmony Place MHC | Christopher K. Ebert and Karl Ebert | No | No | Refinance | |||
29 | Loan | G | 1 | Foothill Villa | Yoram Hassid | No | No | Refinance | ||
30 | Loan | H | 1 | Spring Valley Town Center | Lakeview Crossing Shopping Center Dallas, TX. Limited Partnership | No | No | Refinance | ||
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | Michael Mirski and Jay Yang | No | Yes | Refinance | ||
31.01 | Property | 1 | Abenaki Mobile Home Park | |||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | |||||||
31.03 | Property | 1 | Intown MHP | |||||||
31.04 | Property | 1 | Bolton Acres MHP | |||||||
32 | Loan | 1 | 101-107 Industrial Ave | Brian Ker | No | No | Refinance | |||
33 | Loan | 28 | 1 | 22 East 177th Street | Joseph E. Safdie and Chun Y. Lee | No | No | Refinance | ||
34 | Loan | 29 | 1 | 1681 Eastburn Ave | Joseph E. Safdie and Chun Y. Lee | No | No | Refinance | ||
35 | Loan | 1 | Sunset King Lake | OZ Impact Mobile Communities, LLC | No | No | Recapitalization | |||
36 | Loan | 1 | Extra Room Storage - Pawley's Island | Lawrence Charles Kaplan, George W. Thacker, III and Peter J. Veltri | No | No | Acquisition | |||
37 | Loan | 1 | Stor365 | Mandy L. Monson and Victor Manuel Diaz III | No | No | Refinance |
A-1-18 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sources: Principal's New Cash Contribution ($) | Sources: Subordinate Debt ($) | Sources: Other Sources ($) | Sources: Total Sources ($) | Uses: Loan Payoff ($) | Uses: Purchase Price ($) | Uses: Closing Costs ($) | Uses: Reserves ($) | Uses: Principal Equity Distribution ($) | Uses: Other Uses ($) | Uses: Total Uses ($) | Franchise Agreement Expiration |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | 0 | 0 | 0 | 125,000,000 | 96,627,196 | 0 | 314,775 | 0 | 28,058,028 | 0 | 125,000,000 | NAP |
2 | Loan | 1 | 2001 K Street | 12,370,440 | 0 | 0 | 107,370,440 | 98,590,181 | 0 | 526,273 | 8,253,986 | 0 | 0 | 107,370,440 | NAP | |
3 | Loan | 1 | Cira Square | 94,210,377 | 45,000,000 | 25,000,000 | 254,210,377 | 251,942,677 | 0 | 2,267,701 | 0 | 0 | 0 | 254,210,377 | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | 0 | 0 | 0 | 70,000,000 | 65,283,860 | 0 | 758,554 | 2,419,241 | 1,538,344 | 0 | 70,000,000 | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | 0 | 0 | 0 | 62,000,000 | 51,046,865 | 0 | 1,852,020 | 1,737,379 | 7,363,736 | 0 | 62,000,000 | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | 0 | 0 | 0 | 90,000,000 | 32,104,252 | 0 | 1,284,193 | 885,575 | 55,725,980 | 0 | 90,000,000 | NAP |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | 17,264,301 | 0 | 0 | 117,264,301 | 90,076,354 | 0 | 889,966 | 26,297,981 | 0 | 0 | 117,264,301 | NAP |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | 8,657,092 | 0 | 0 | 178,657,092 | 173,058,858 | 0 | 598,234 | 5,000,000 | 0 | 0 | 178,657,092 | NAP |
9 | Loan | 1 | Towers Shopping Center | 0 | 0 | 0 | 35,000,000 | 23,840,763 | 0 | 736,874 | 1,295,474 | 9,126,890 | 0 | 35,000,000 | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | 0 | 0 | 0 | 33,750,000 | 17,402,696 | 0 | 998,832 | 22,836 | 12,334,596 | 2,991,041 | 33,750,000 | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 12,997,320 | 0 | 0 | 43,797,320 | 0 | 42,000,000 | 587,320 | 1,210,000 | 0 | 0 | 43,797,320 | 5/10/2049 |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | 0 | 0 | 0 | 260,000,000 | 211,601,763 | 0 | 3,205,539 | 3,966,953 | 41,225,745 | 0 | 260,000,000 | NAP |
13 | Loan | 5, 18 | 1 | Wildwood Center | 21,013,530 | 0 | 0 | 86,013,530 | 59,773,946 | 0 | 1,889,017 | 11,275,662 | 0 | 13,074,906 | 86,013,530 | NAP |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 0 | 0 | 0 | 29,500,000 | 18,720,818 | 0 | 393,081 | 27,118 | 10,358,983 | 0 | 29,500,000 | NAP |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | 40,724,498 | 0 | 0 | 106,524,498 | 0 | 105,300,000 | 1,188,858 | 35,640 | 0 | 0 | 106,524,498 | NAP |
16 | Loan | 5, D | 1 | Gallup HQ | NAP | |||||||||||
17 | Loan | 1 | 2801 & 2815 Townsgate | NAP | ||||||||||||
18 | Loan | 5, 20, E | 1 | Columbus Business Park | NAP | |||||||||||
19 | Loan | 21 | 1 | H-Mart Plaza | NAP | |||||||||||
20 | Loan | 1 | 150 2nd Avenue North | NAP | ||||||||||||
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 1/12/2027 | |||||||||||
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | NAP | |||||||||||
22.01 | Property | 1 | Silver Lake Office Park | NAP | ||||||||||||
22.02 | Property | 1 | 100 Enterprise Place | NAP | ||||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | NAP | ||||||||||||
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | NAP | |||||||||||
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 12/31/2039 | |||||||||||
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | |||||||||||
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | ||||||||||||
28 | Loan | 1 | Harmony Place MHC | NAP | ||||||||||||
29 | Loan | G | 1 | Foothill Villa | NAP | |||||||||||
30 | Loan | H | 1 | Spring Valley Town Center | NAP | |||||||||||
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | NAP | |||||||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | NAP | ||||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | NAP | ||||||||||||
31.03 | Property | 1 | Intown MHP | NAP | ||||||||||||
31.04 | Property | 1 | Bolton Acres MHP | NAP | ||||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | NAP | ||||||||||||
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | |||||||||||
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | |||||||||||
35 | Loan | 1 | Sunset King Lake | NAP | ||||||||||||
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | ||||||||||||
37 | Loan | 1 | Stor365 | NAP |
A-1-19 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten ADR ($) | Underwritten RevPAR ($) | Underwritten Hotel Occupancy (%) | Most Recent ADR ($) | Most Recent RevPAR ($) | Most Recent Hotel Occupancy (%) | Second Most Recent ADR ($) | Second Most Recent RevPAR ($) | Second Most Recent Hotel Occupancy (%) | Third Most Recent ADR ($) | Third Most Recent RevPAR ($) | Third Most Recent Hotel Occupancy (%) |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | NAV | NAV | 100.0% | 216.05 | 168.95 | 78.2% | 204.62 | 147.58 | 72.1% | 153.12 | 65.57 | 42.8% |
2 | Loan | 1 | 2001 K Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3 | Loan | 1 | Cira Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4 | Loan | 7 | 1 | MarqE Entertainment Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
5 | Loan | 10, B | 1 | Woodyard Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
7 | Loan | 5, 12, 13 | 1 | 488 Madison | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
9 | Loan | 1 | Towers Shopping Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
10 | Loan | 1 | The Hollywood Ardmore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | 178.15 | 151.39 | 85.0% | 178.15 | 151.39 | 85.0% | 177.03 | 146.01 | 82.5% | 157.21 | 124.08 | 78.9% |
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13 | Loan | 5, 18 | 1 | Wildwood Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | 231.19 | 205.52 | 88.9% | 231.19 | 205.52 | 88.9% | 227.50 | 202.10 | 88.8% | 210.99 | 188.04 | 89.1% |
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
16 | Loan | 5, D | 1 | Gallup HQ | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 1 | 2801 & 2815 Townsgate | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18 | Loan | 5, 20, E | 1 | Columbus Business Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 21 | 1 | H-Mart Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
20 | Loan | 1 | 150 2nd Avenue North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | 156.15 | 117.83 | 75.5% | 156.15 | 117.83 | 75.5% | 156.18 | 119.71 | 76.7% | 150.05 | 114.41 | 76.3% |
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22.01 | Property | 1 | Silver Lake Office Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
22.02 | Property | 1 | 100 Enterprise Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
23 | Loan | 1 | Chapel Hill Industrial Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | 220.96 | 179.96 | 81.4% | 220.96 | 179.96 | 81.5% | 225.47 | 186.41 | 82.7% | 221.38 | 193.72 | 87.5% |
26 | Loan | F | 1 | Innovation Business Park 7 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | Harmony Place MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
29 | Loan | G | 1 | Foothill Villa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
30 | Loan | H | 1 | Spring Valley Town Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
31.01 | Property | 1 | Abenaki Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.02 | Property | 1 | Stony Acres Mobile Home Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.03 | Property | 1 | Intown MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.04 | Property | 1 | Bolton Acres MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
32 | Loan | 1 | 101-107 Industrial Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
33 | Loan | 28 | 1 | 22 East 177th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
34 | Loan | 29 | 1 | 1681 Eastburn Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
35 | Loan | 1 | Sunset King Lake | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
36 | Loan | 1 | Extra Room Storage - Pawley's Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
37 | Loan | 1 | Stor365 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-20 |
Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID Number | Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Coop - Committed Secondary Debt | Coop - Rental Value | Coop - LTV as Rental | Coop - Unsold Percent | Coop - Sponsor Units | Coop - Investor Units | Coop - Coop Units | Coop - Sponsor/Investor Carry | |
1 | Loan | 5, 7, 8, 9, A | 1 | Marriott Anaheim | |||||||||
2 | Loan | 1 | 2001 K Street | ||||||||||
3 | Loan | 1 | Cira Square | ||||||||||
4 | Loan | 7 | 1 | MarqE Entertainment Center | |||||||||
5 | Loan | 10, B | 1 | Woodyard Crossing | |||||||||
6 | Loan | 5, 11 | 1 | Saks Beverly Hills | |||||||||
7 | Loan | 5, 12, 13 | 1 | 488 Madison | |||||||||
8 | Loan | 5, 7 | 1 | Jordan Creek Town Center | |||||||||
9 | Loan | 1 | Towers Shopping Center | ||||||||||
10 | Loan | 1 | The Hollywood Ardmore | ||||||||||
11 | Loan | 14, 15, 16, C | 1 | Staybridge Suites Tysons-McLean | |||||||||
12 | Loan | 5, 7, 17 | 1 | Kenwood Towne Centre | |||||||||
13 | Loan | 5, 18 | 1 | Wildwood Center | |||||||||
14 | Loan | 19 | 1 | Anaheim Desert Inn & Suites | |||||||||
15 | Loan | 5 | 1 | Pleasanton Corporate Commons | |||||||||
16 | Loan | 5, D | 1 | Gallup HQ | |||||||||
17 | Loan | 1 | 2801 & 2815 Townsgate | ||||||||||
18 | Loan | 5, 20, E | 1 | Columbus Business Park | |||||||||
19 | Loan | 21 | 1 | H-Mart Plaza | |||||||||
20 | Loan | 1 | 150 2nd Avenue North | ||||||||||
21 | Loan | 22 | 1 | Marriott Visalia Convention Center | |||||||||
22 | Loan | 6, 7 | 2 | Silver Lake Office Portfolio | |||||||||
22.01 | Property | 1 | Silver Lake Office Park | ||||||||||
22.02 | Property | 1 | 100 Enterprise Place | ||||||||||
23 | Loan | 1 | Chapel Hill Industrial Park | ||||||||||
24 | Loan | 23, 24, 25 | 1 | Arthouse Lofts | |||||||||
25 | Loan | 26 | 1 | Hampton Inn Santa Barbara - Goleta | |||||||||
26 | Loan | F | 1 | Innovation Business Park 7 | |||||||||
27 | Loan | 1 | 24 Hour Fitness - 1903 West Empire Avenue | ||||||||||
28 | Loan | 1 | Harmony Place MHC | ||||||||||
29 | Loan | G | 1 | Foothill Villa | |||||||||
30 | Loan | H | 1 | Spring Valley Town Center | |||||||||
31 | Loan | 6, 27 | 4 | Plattsburgh MHP Portfolio | |||||||||
31.01 | Property | 1 | Abenaki Mobile Home Park | ||||||||||
31.02 | Property | 1 | Stony Acres Mobile Home Park | ||||||||||
31.03 | Property | 1 | Intown MHP | ||||||||||
31.04 | Property | 1 | Bolton Acres MHP | ||||||||||
32 | Loan | 1 | 101-107 Industrial Ave | ||||||||||
33 | Loan | 28 | 1 | 22 East 177th Street | |||||||||
34 | Loan | 29 | 1 | 1681 Eastburn Ave | |||||||||
35 | Loan | 1 | Sunset King Lake | ||||||||||
36 | Loan | 1 | Extra Room Storage - Pawley's Island | ||||||||||
37 | Loan | 1 | Stor365 |
A-1-21 |
BANK5 2024-5YR7
Footnotes to Annex A-1
(1) | MSBNA—Morgan Stanley Bank, N.A.; BANA—Bank of America, National Association; MSMCH—Morgan Stanley Mortgage Capital Holdings LLC; WFB—Wells Fargo Bank, National Association; JPMCB—JPMorgan Chase Bank, National Association. |
(2) | Certain tenants may not be in occupancy or may be in free rent periods. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in this prospectus for information regarding the 5 largest tenants at mortgaged properties securing the 15 largest Mortgage Loans and tenants that occupy 50% or more of the net rentable area at their respective mortgaged properties which are not in occupancy or are in free rent periods. |
(3) | The Administrative Fee Rate includes the master servicing fee rate, operating advisor fee rate, certificate administrator/trustee fee rate, asset representations reviewer fee rate, primary or sub-servicing servicing fee rate, CREFC® license fee rate and, with respect to any non-serviced Mortgage Loan, pari passu loan primary servicing fee rate, in each case applicable to the related Mortgage Loan. |
(4) | Certain tenants may have lease termination options that are exercisable prior to the originally stated expiration date of the subject lease. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Terminations” for information regarding certain lease termination options affecting the 5 largest tenants at mortgaged properties securing the 15 largest Mortgage Loans and tenants that occupy 50% or more of the net rentable area at their respective mortgaged properties. |
(5) | With respect to Mortgage Loan No. 1, Marriott Anaheim, Mortgage Loan No. 3, Cira Square, Mortgage Loan No. 6, Saks Beverly Hills, Mortgage Loan No. 7, 488 Madison, Mortgage Loan No. 8, Jordan Creek Town Center, Mortgage Loan No. 12, Kenwood Towne Centre, Mortgage Loan No. 13, Wildwood Center, Mortgage Loan No. 15, Pleasanton Corporate Commons, Mortgage Loan No. 16, Gallup HQ and Mortgage Loan No. 18, Columbus Business Park, such Mortgage Loans are part of a whole loan related to the Issuing Entity. For purposes of the statistical information set forth in this prospectus as to such Mortgage Loans, all LTV, DSCR, Debt Yield and Loan Per Unit ($) calculations are in each case based on the subject Mortgage Loan together with any related Pari Passu Companion Loan, but (unless otherwise indicated) without regard to any related Subordinate Companion Loan(s). For further information, see “Description of the Mortgage Pool—The Whole Loans—General”, “—The Serviced Pari Passu Whole Loans”, “—The Non-Serviced Pari Passu Whole Loans”, and “Pooling and Servicing Agreement” or “Pooling and Servicing Agreement—Servicing of the Non-Serviced Mortgage Loans,” as applicable, in this prospectus. |
(6) | With respect to Mortgage Loan No. 22, Silver Lake Office Portfolio and Mortgage Loan No. 31, Plattsburgh MHP Portfolio, such Mortgage Loans are secured by multiple properties. For purposes of the statistical information set forth in this prospectus as to such Mortgage Loans, all LTV, DSCR, Debt Yield and Loan Per Unit ($) calculations are shown on an aggregate basis, and a portion of the Cut-off Date Balance has been allocated to each Mortgaged Property based on the respective Appraised Values and/or Underwritten NCF, among other methods. |
(7) | With respect to Mortgage Loan No. 1, Marriott Anaheim, Mortgage Loan No. 4, MarqE Entertainment Center, Mortgage Loan No. 8, Jordan Creek Town Center, Mortgage Loan No. 12, Kenwood Towne Center and Mortgage Loan No. 22, Silver Lake Office Portfolio, the related loan documents permit an outparcel or other release without prepayment or defeasance. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Releases; Partial Releases; Property Additions” in this prospectus. |
(8) | With respect to Mortgage Loan No. 1, Marriott Anaheim, the appraisal concluded to an “as-is” value for the Marriott Anaheim Property of $190,000,000. The appraiser also provided a hypothetical fee simple value of $387,700,000, which assumes the related oOperating Llease (as defined below)between the related borrower and Marriott Hotel Services, LLC is dissolved and the borrower assumes full ownership of the Marriott Anaheim Property’s operational cash flows. This results in a look look-through Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 32.2%. |
(9) | With respect to Mortgage Loan No. 1, Marriott Anaheim, the Marriott Anaheim Property operates under a long-term operating lease agreement (the "Operating Lease") between the borrower, as lessor, and Marriott Hotel Services, LLC ("Marriott"), as lessee, whereby the lessee is responsible for a monthly Operating Lease payment to the borrower and retains any profit in excess of the operating Operating lease Lease payment from the operations of the Marriott Anaheim Propertyproperty. The Operating Lease has an expiration date of December 31, 2031 and Marriott has one remaining 25-year renewal option which would extend the operating lease through December 31, 2056. Base rent under the Operating Lease is equal to 10.0% of the borrower’s invested capital. As of loan origination, the borrower’s invested capital has a current balance of $103,067,669, resulting in a current annual base rent under the Operating Lease of $10,306,767. The base rent payment cannot decline but has the potential to increase if the borrower invests additional capital to upgrade the Marriott Anaheim Property during the Operating Lease term. The Operating Lease is triple net, with Marriott being responsible for direct payment of all real estate taxes, insurance, utilities, operating costs and maintenance costs. Underwritten and historical financials represent the Operating Lease payment. Historical ARD, RevPar and occupancy information represents the performance of the underlying hotel operations. |
(10) | With respect to Mortgage Loan No. 5, Woodyard Crossing, on no more than three occasions during the term of the Mortgage Loan, and no more than once in any twelve month period, the borrower will have a grace period of three days following notice to borrower that any monthly debt service payment amount is due. |
A-1-22 |
(11) | With respect to Mortgage Loan No. 6, Saks Beverly Hills, the annual ground rent under the related ground lease (the “Ground Lease”) is scheduled to escalate every seven-year period, where each new seven-year ground rent equals the previous seven-year annual rent plus adjustment based on the Consumer Price Index for All Urban Consumers for Los Angeles-Anaheim-Riverside as published by the U.S. Department of Labor, Bureau of Labor Statistics. Each such ground rent escalation is subject to a 6% cap per lease year (compounded and cumulative) for each seven-year period preceding the related adjustment date, which cap is further subject to other considerations as set forth in the Ground Lease. The next escalation is scheduled to occur in January 2025. |
(12) | With respect to Mortgage Loan No. 7, 488 Madison, the appraisal concluded to a “Market Value Assuming ADNY Reserves” value for the 488 Madison Property (as defined below) of $220,000,000 as of April 1, 2024, which assumes that the contractual obligations from the Archdiocese of New York lease (free rent, tenant improvements, leasing costs, and other capital expenditures) would be funded by a cash reserve held in escrow and that such reserved funds would be available for any potential purchase. At origination, the borrower reserved $20,353,872 for outstanding amounts for the Archdiocese of New York tenant improvement and allowances, and $2,127,815 for the Archdiocese of New York tenant leasing commissions with the lender. Additionally, the borrower provided a letter of credit to the lender in the amount of $8,462,090 for the tenant Archdiocese of New York’s free rent funds and gap rent funds. The appraisal concluded to an “As-Is” appraised value of $180,000,000 as of April 1, 2024, resulting in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 55.6%. In addition, the appraisal employs the extraordinary assumptions that the 488 Madison Property will be subdivided into condominiums and that the Archdiocese of New York unit real estate tax exemption will be granted, and that beginning March 1, 2025, the real estate taxes attributable to the Archdiocese of New York tax lot (29.528% of real estate taxes) will be abated. Without the tax exemption, underwritten NOI DSCR, NCF DSCR, NOI Debt Yield and NCF Debt Yield would be 1.97x, 1.67x, 13.7% and 11.7%, respectively. |
(13) | With respect to Mortgage Loan No. 7, 488 Madison, under the lease of the largest tenant, Archdiocese of New York, the borrower is required to establish a condominium regime for the 488 Madison Property, and subdivide the building into three or more fee condominiums units. Such condominium has been formed. The Archdiocese of New York leased space encompasses the entirety of one fee condominium unit. Such structure is intended to allow the Archdiocese of New York to create a leasehold condominium in order to apply for a real estate tax exemption for their portion of the 488 Madison Property’s real estate tax liability. Once the fee condominium structure has been created, the tenant is responsible for obtaining tax-exempt status and if the Archdiocese of New York fails to abate its property tax obligation, it will be responsible for paying its pro-rata-share of property taxes (29.528%). |
(14) | With respect to Mortgage Loan No. 11, Staybridge Suites Tysons-McLean, the Appraised Value represents an “As-If PIP Escrowed” appraised value based on the hypothetical assumption that the costs associated with the property improvement plan (“PIP”) have been escrowed and will be available to fund such PIP. Upon origination of the Staybridge Suites Tysons-McLean Mortgage Loan, the borrower deposited $1,200,000 into a PIP reserve to fund a franchise required change of control PIP. Based on the “As-Is” appraised value of $43,100,000, the Staybridge Suites Tysons-McLean Mortgage Loan results in a Cut-Off Date LTV Ratio and Maturity Date LTV Ratio of 71.5%. |
(15) | With respect to Mortgage Loan No. 11, Staybridge Suites Tysons-McLean, in connection with the borrower’s acquisition of the Mortgaged Property, Six Continents Hotels, Inc. (“Six Continents”), an affiliate of the franchisor is required to provide $2,840,000 in “key money” (the “Key Money Debt”), pursuant to that certain Loan Agreement between Six Continents and the sole member (the “Sole Member”) of the borrower (the “Key Money Loan Agreement”), in connection with the execution of the related license agreement (the “License Agreement”). Pursuant to the Key Money Loan Agreement, Six Continents is required to disburse such Key Money Debt to Sole Member in three installments in the respective amounts of $1,000,000 (the “First Installment of Key Money”), $840,000 (the “Second Installment of Key Money”), and $1,000,000 (the “Third Installment of Key Money”) in accordance with the Key Money Loan Agreement. Pursuant to a side letter (the “Key Money Side Letter”) between the Sole Member and the seller of the Staybridge Suites Tysons-McLean Property (the “Seller”), the Sole Member is required to pay to the Seller the amount of $1,850,000, which is required to be paid by Sole Member to the Seller in two installments: (a) the first installment of $1,000,000 within three business days after Sole Member’s receipt of the First Installment of Key Money and (b) the second installment of $850,000 by no later than October 1, 2024. See “Description of the Mortgage Pool – Additional Indebtedness – Other Unsecured Indebtedness” in the prospectus for additional information. |
(16) | With respect to Mortgage Loan No. 11, Staybridge Suites Tysons-McLean, commencing on July 1, 2024 and on each Payment Due Date thereafter, the related borrower is required to pay for deposit into the Monthly Replacement / FF&E Reserve ($), the FF&E Monthly Deposit for replacements and repairs to FF&E required to be made to the Mortgaged Property during the calendar year. In addition, upon the earlier to occur of (x) one business day after receipt by the Sole Member of the Key Money Debt that is not required to be paid to the Seller pursuant to the Key Money Side Letter (including, without limitation, the full amount of the Third Installment of Key Money), and (y) July 31, 2026, the borrower is required to pay for deposit into the Monthly Replacement / FF&E Reserve ($) the greater of (A) the full amount of such Key Money that is not required to be paid to Seller, and (B) $990,000 (the “Key Money Deposit"); provided that, so long as no cash sweep period is then in effect, the funds on deposit in the FF&E reserve (but not including the Key Money Deposit or borrower’s upfront deposit of $1,200,000 into the PIP reserve) are subject to a cap of $1,704,000. In the event that the Key Money Deposit would cause the funds in the FF&E reserve to exceed the foregoing cap, then, so long as no cash sweep period is then in effect, the borrower will not be required to make monthly deposits into the FF&E reserve until such time that the amount on deposit in the FF&E reserve is less than $1,704,000. "FF&E Monthly Deposit" means an amount equal to (i) with respect to any monthly payment date from the loan origination date until the fourth anniversary of the loan origination date, 4.0% of the sum of (A) operating income from the Mortgaged Property (the “Operating Income”) plus (B) gross rents from the Mortgaged Property (the “Gross Rents”) for the calendar month two months prior to such monthly payment date, and (ii) with respect to any Payment Due Date beginning on the fourth anniversary |
A-1-23 |
of the loan origination date until the maturity date, 5.0% of the sum of (A) Operating Income plus (B) Gross Rents for the calendar month two months prior to such monthly payment date. | |
(17) | With respect to Mortgage Loan No. 12, Kenwood Towne Centre, the total SF consists of 770,312 SF of owned improvements and 262,829 SF of leased fee improvements. The Cut-off Date Balance Per SF, Maturity Date Balance Per SF, and As-Is Appraised Value Per SF are based on the total SF of 1,033,141. The Cut-off Date Balance Per SF, Maturity Date Balance Per SF, and As-Is Appraised Value Per SF based on the owned SF of 770,312 is $337.53, $337.53, and $741.52, respectively. |
(18) | With respect to Mortgage Loan No. 13, Wildwood Center, the Appraised Value represents the “As-Is-Hypothetical” value which assumes that all leasing costs associated with the Manhattan Associates renewal have been paid, and the tenant is paying the increased rental rate. As part of Manhattan Associates' lease renewal, the borrower provided Manhattan Associates with an approximately $12.6 million tenant improvement allowance and an approximately $503,000 allowance for borrower's costs. The related borrower purchased an approximately $13.1 million letter of credit which is held by the tenant associated with this work. Additionally, the gap rent and free rent associated with the renewal were reserved at loan origination. The Cut-off Date LTV Ratio and LTV Ratio at Maturity based on the “As-Is” appraised value are 65.0% and 65.0%, respectively. |
(19) | With respect to Mortgage Loan No. 14, Anaheim Desert Inn & Suites, the FF&E reserve may be adjusted on a quarterly basis in an amount equal to the greater of (i) the then-existing FF&E Reserve Monthly Deposit; or (ii) 1/12th of 3% of the trailing 12-month underwritten revenue for the prior fiscal quarter. The monthly reserve amount is initially estimated at $29,327. |
(20) | With respect to Mortgage Loan No. 18, Columbus Business Park, according to the related appraisal, the second floor of the Mortgaged Property, which contains approximately 1,546,217 square feet, is typically only usable by tenants occupying the first floor with an access ramp connecting the two floors, but is otherwise considered unleasable to standalone tenants because of limited access to the interior ramps and freight elevators and no direct truck dock access. The related appraisal report indicates that the largest tenant at the Mortgaged Property, Ford Motor Company, which currently leases approximately 909,287 square feet on the first floor of the Mortgaged Property, representing approximately 42% of net rentable area, has an unsigned letter of intent to lease approximately 198,946 square feet on the second floor of the Mortgaged Property, which is underwritten as vacant rentable area and would represent approximately 9% of the net rentable area at the Mortgaged Property. The remaining 1,347,271 square feet of space on the second floor was not included in the underwritten net rentable area. |
(21) | With respect to Mortgage Loan No. 19, H-Mart Plaza, the appraiser concluded a “prospective as stabilized” value of $37,700,000 as of February 1, 2025, which assumes a February 1, 2025 rent commencement date for the second largest tenant, Launch Entertainment. Launch Entertainment has not yet taken occupancy or commenced rent payments. Launch Entertainment has an executed lease date of September 22, 2023 and its leased space has been delivered and is pending the tenant’s buildout. The lease cannot be terminated and is personally guaranteed by the lessor. The rent commencement date will be the earlier of (a) tenant opening for business and (b) 300 days after the later of the delivery date (February 20, 2024) or the date tenant receives all permits and approvals. Pursuant to the lease, the rent commencement date will not be later than April 20, 2025. The lender has reserved gap rent for the entire period from loan closing through April 30, 2025 ($950,062) plus 100% of tenant improvements and leasing commissions owed to the tenant ($966,405). |
(22) | With respect to Mortgage Loan No. 21, Marriott Visalia Convention Center, the appraiser concluded an “upon-completion” value of $47,100,000 as of June 1, 2026, which assumes completion of a soft goods PIP renovation and 20-year franchise agreement extension. At loan closing, the lender reserved $1,874,225, which represents 100% of the budget for such soft goods PIP. The PIP is expected to be completed by year-end 2024. After the PIP is completed, the franchisor has indicated it will extend the franchise agreement for 20 years. Based on the “as-is” value of $42,200,000 as of March 15, 2024, the Cut-off Date LTV Ratio and Maturity Date LTV Ratio are 56.9%. |
(23) | With respect to Mortgage Loan No. 24, Arthouse Lofts, the Mortgaged Property includes 46,463 SF of residential space and 22,946 SF of ground floor retail space. |
(24) | With respect to Mortgage Loan No. 24, Arthouse Lofts, the borrower is required to deposit, or cause to be deposited, into the lockbox account all rents received from residential tenants within one business day of receipt thereof, and, all non-residential tenants are required to deliver all rental amounts directly to the lockbox account. |
(25) | With respect to Mortgage Loan No. 24, Arthouse Lofts, approximately 7.6% of the Underwritten EGI is attributable to rental income in connection with the borrower’s leasing of a billboard located on the Mortgaged Property. |
(26) | With respect to Mortgage Loan No. 25, Hampton Inn Santa Barbara - Goleta, the cash management trigger period related to a decline in debt service is not tested until the end of the first quarter of 2025. At origination, the borrower provided the lender with an initial cash collateral reserve of $200,000, which is required to be released to the borrower at the end of the first calendar quarter in 2025 if the interest only debt service coverage ratio of the Mortgage Loan is at least 1.30x for the immediately prior two consecutive quarters. |
(27) | With respect to Mortgage Loan No. 31, Plattsburgh MHP Portfolio, the third most recent period cash flows represent a combination of year end 2021 and year end 2022 amounts, due to availability of historical operating statements at the properties. |
(28) | With respect to Mortgage Loan No. 33, 22 East 177th Street, the borrower is in the process of applying for a 421-a tax exemption, which has not been approved. The appraisal calculates the net present value of such 421-a exemption to be $1,807,141, and adds such value to the capitalized value set forth in the appraisal. If such net present value were to be subtracted from the |
A-1-24 |
appraised value, the appraised value would be $6,892,859, which would result in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 77.8%. There can be no assurance that a 421-a exemption will be approved, or of what the appraised value or actual value of the 22 East 177th Street Property would be if the exemption were not approved. In addition, the appraised value includes the present value of overage rent (above market rent) obtained from the CityFHEPs program to be $320,112. If such present value were also deducted, the appraised value would be $6,572,747, which would result in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 81.5%. There can be no assurance as to what the appraised value or actual value of the 22 East 177th Street Property would be if it were not rented pursuant to the CityFHEPs program. In addition, the Mortgage Loan was underwritten assuming the 421-a exemption has been received and the CityFHEPs income will continue to be received. If Underwritten NOI and Underwritten NCF were calculated assuming that rents were paid under the Section 8 Program, and that the 421-a tax exemption was not received, for the 22 East 177th Street Mortgaged Property U/W NOI DSCR, U/W NCF DSCR, U/W NOI Debt Yield and U/W NCF Debt Yield would be 1.05x, 1.04x, 7.6% and 7.5%, respectively. | |
(29) | With respect to Mortgage Loan No. 34, 1681 Eastburn Ave, the borrower is in the process of applying for a 421-a tax exemption, which has not been approved. The appraisal calculates the net present value of such 421-a exemption to be $1,581,924, and adds such value to the capitalized value set forth in the appraisal. If such net present value were to be subtracted from the appraised value, the appraised value would be $6,618,076, which would result in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 78.6%. There can be no assurance that a 421-a exemption will be approved, or of what the appraised value or actual value of the 1681 Eastburn Ave Property would be if the exemption were not approved. In addition, the appraised value includes the present value of overage rent (above market rent) obtained from the CityFHEPs program to be $351,820. If such present value were also deducted, the appraised value would be $6,266,256, which would result in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 83.0%. There can be no assurance as to what the appraised value or actual value of the 1681 Eastburn Ave Property would be if it were not rented pursuant to the CityFHEPs program. In addition, the Mortgage Loan was underwritten assuming the 421-a exemption has been received and the CityFHEPs income will continue to be received. If Underwritten NOI and Underwritten NCF were calculated assuming that rents were paid under the Section 8 Program, and that the 421-a tax exemption was not received, for the 1681 Eastburn Ave Mortgaged Property U/W NOI DSCR, U/W NCF DSCR, U/W NOI Debt Yield and U/W NCF Debt Yield would be 1.06x, 1.05x, 7.4% and 7.4%, respectively. |
A. | "Yield Maintenance” shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid, and (ii) the present value as of the Prepayment Calculation Date of a series of monthly payments over the remaining term of the Loan through and including the Open Prepayment Date each equal to the amount of interest which would be due on the principal amount of the Loan being prepaid assuming a per annum interest rate equal to the excess of the Interest Rate over the Reinvestment Yield, and discounted at the Reinvestment Yield. As used herein, “Reinvestment Yield” means the yield calculated by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading “U.S. government securities” and the sub-heading “Treasury constant maturities” for the week ending prior to the date of prepayment, of the U.S. Treasury constant maturities with maturity dates (one longer and one equal to or shorter) most nearly approximating the Open Prepayment Date, and converted to a monthly compounded nominal yield. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Reinvestment Yield. The “Prepayment Calculation Date” shall mean, as applicable, the Payment Date on which Lender applies any prepayment to the reduction of the outstanding principal amount of the Note. Lender’s calculation of Yield Maintenance shall be conclusive and binding absent manifest error. |
B. | “Yield Maintenance Premium” shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid and (ii) an amount equal to the present value as of the Prepayment Date of the Calculated Payments from the Prepayment Date through the Open Date determined by discounting such payments at the Discount Rate. As used in this definition, the term “Prepayment Date” shall mean the date on which prepayment is made. As used in this definition, the term “Calculated Payments” shall mean the monthly payments of interest only which would be due based on the principal amount of the Loan being prepaid on the Prepayment Date and assuming an interest rate per annum equal to the difference (if such difference is greater than zero) between (y) the Interest Rate and (z) the Yield Maintenance Treasury Rate. As used in this definition, the term “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Yield Maintenance Treasury Rate, when compounded semi-annually. As used in this definition, the term “Yield Maintenance Treasury Rate” shall mean the yield calculated by Lender by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury Constant Maturities with maturity dates (one longer or one shorter) most nearly approximating the Open Date. In the event Release H.15 is no longer published, Lender shall select a comparable publication (in its reasonable determination) to determine the Yield Maintenance Treasury Rate. In no event, however, shall Lender be required to reinvest any prepayment proceeds in U.S. Treasury obligations or otherwise. Notwithstanding anything contained herein, the Loan may be prepaid without payment of the Yield Maintenance Premium from and after the Open Date. |
C. | "Yield Maintenance Premium" shall mean an amount equal to the greater of (a) one percent (1%) of the outstanding principal of the Loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest under the Note assuming that all scheduled payments are made timely and that the remaining outstanding principal and interest on the Loan is paid on the Permitted Par Prepayment Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid. |
A-1-25 |
"Prepayment Rate" shall mean the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Permitted Par Prepayment Date as most recently published in "Statistical Release H.15 ( 519), Selected Interest Rates," or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. | |
D. | “Yield Maintenance Amount” shall mean the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Stated Maturity Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date. "Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the lesser of (i) the Treasury Rate and (ii) the Swap Rate, each when compounded semiannually. “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Repayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Stated Maturity Date. (In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.) |
E. | “Yield Maintenance Premium” shall mean, with respect to any repayment of the outstanding principal balance of the Loan, an amount equal to the greater of (a) one percent (1%) of the outstanding principal of the portion of the Loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest under the Note to be made with respect to the portion of the Loan under the Note assuming that all scheduled payments are made timely and that the remaining outstanding principal and interest on the portion of the Loan being prepaid is paid on the Permitted Par Prepayment Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid. “Prepayment Rate” shall mean the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Permitted Par Prepayment Date as most recently published in “Statistical Release H.15 (519), Selected Interest Rates,” or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. |
F. | "Yield Maintenance" shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid, and (ii) the present value as of the Prepayment Calculation Date of a series of monthly payments over the remaining term of the Loan through and including the Maturity Date each equal to the amount of interest which would be due on the principal amount of the Loan being prepaid assuming a per annum interest rate equal to the excess of the Interest Rate over the Reinvestment Yield, and discounted at the Reinvestment Yield. As used herein, "Reinvestment Yield" means the yield calculated by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading "U.S. government securities" and the sub-heading "Treasury constant maturities" for the week ending prior to the date of prepayment, of the U.S. Treasury constant maturities with maturity dates (one longer and one equal to or shorter) most nearly approximating the Maturity Date, and converted to a monthly compounded nominal yield. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Reinvestment Yield. The "Prepayment Calculation Date" shall mean, as applicable, the Payment Date on which Lender applies any prepayment to the reduction of the outstanding principal amount of the Note. Lender's calculation of Yield Maintenance shall be conclusive and binding absent manifest error. |
G. | "Yield Maintenance Premium” shall mean an amount equal to the greater of: (x) one percent (1%) of the principal amount of this Note being prepaid or (y) the present value as of the Prepayment Date (defined below) of the Calculated Payments (defined below) from the Prepayment Date through the Maturity Date determined by discounting such payments at the Discount Rate (defined below). As used in this definition, the term “Prepayment Date” shall mean the date on which prepayment is made. As used in this definition, the term “Calculated Payments” shall mean the monthly payments of interest only which would be due based on the principal amount of this Note being prepaid on the Prepayment Date and assuming an interest rate per annum equal to the difference (if such difference is greater than zero) between (1) the Applicable Interest Rate and (2) the Yield Maintenance Treasury Rate (defined below). As used in this definition, the term “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Yield Maintenance Treasury Rate, when compounded semi-annually. As used in this definition, the term “Yield Maintenance Treasury Rate” shall mean the yield calculated by Lender by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury Constant Maturities with maturity dates (one longer or one shorter) most nearly approximating the Maturity Date. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Yield Maintenance Treasury Rate. In no event, however, shall Lender be required to reinvest any prepayment proceeds in U.S. Treasury obligations or otherwise. |
A-1-26 |
H. | "Yield Maintenance Premium” shall mean an amount equal to the greater of: (x) one percent (1%) of the principal amount of this Note being prepaid or (y) the present value as of the Prepayment Date (defined below) of the Calculated Payments (defined below) from the Prepayment Date through the first day of the Open Period determined by discounting such payments at the Discount Rate (defined below). As used in this definition, the term “Prepayment Date” shall mean the date on which prepayment is made. As used in this definition, the term “Calculated Payments” shall mean the monthly payments of interest only which would be due based on the principal amount of this Note being prepaid on the Prepayment Date and assuming an interest rate per annum equal to the difference (if such difference is greater than zero) between (1) the Applicable Interest Rate and (2) the Yield Maintenance Treasury Rate (defined below). As used in this definition, the term “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Yield Maintenance Treasury Rate, when compounded semi-annually. As used in this definition, the term “Yield Maintenance Treasury Rate” shall mean the yield calculated by Lender by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15- Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury Constant Maturities with maturity dates (one longer or one shorter) most nearly approximating the Open Period. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Yield Maintenance Treasury Rate. In no event, however, shall Lender be required to reinvest any prepayment proceeds in U.S. Treasury obligations or otherwise. |
A-1-27 |