UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: November 24, 2014
(Date of earliest event reported)
JPMBB Commercial Mortgage Securities Trust 2014-C24 | ||
(Exact name of issuing entity) | ||
JPMorgan Chase Bank, National Association | ||
Barclays Bank PLC | ||
KeyBank National Association | ||
Column Financial, Inc. | ||
RAIT Funding, LLC | ||
General Electric Capital Corporation | ||
(Exact name of sponsor as specified in its charter) | ||
J.P. Morgan Chase Commercial Mortgage Securities Corp. | ||
(Exact name of registrant as specified in its charter) |
New York | 333-190246-09 | 13-3789046 |
(State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
383 Madison Avenue | |
New York, New York | 10179 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (212) 272-6858
Not Applicable | ||
(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On October 22, 2014, J.P. Morgan Chase Commercial Mortgage Securities Corp. (the “Depositor”) caused the issuance of the JPMBB Commercial Mortgage Securities Trust 2014-C24, Commercial Mortgage Pass-Through Certificates, Series 2014-C24 (the “Certificates”), pursuant to a Pooling and Servicing Agreement, dated as of October 1, 2014 (the “Pooling and Servicing Agreement”), among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Registrant”), Wells Fargo Bank, National Association, as master servicer and as certificate administrator, LNR Partners, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor.
The Certificates represent, in the aggregate, the entire beneficial ownership in JPMBB Commercial Mortgage Securities Trust 2014-C24 (the “Issuing Entity”), a common law trust fund formed under the laws of the State of New York pursuant to the Pooling and Servicing Agreement. The assets of the Issuing Entity consist primarily of 54 fixed-rate mortgage loans (the “Mortgage Loans”) and one trust subordinate companion loan (the “ESK Companion Loan”) secured by first liens on 64 commercial, multifamily and manufactured housing properties.
The Mortgage Loan identified as “Hilton Houston Post Oak” on Exhibit B to the Pooling and Servicing Agreement (the “Hilton Houston Post Oak Mortgage Loan”), which is an asset of the Issuing Entity, is part of a loan combination (the “Hilton Houston Post Oak Loan Combination”) that includes the Hilton Houston Post Oak Mortgage Loan and one other pari passu loan which is not an asset of the Issuing Entity (the “Hilton Houston Post Oak Companion Loan”). The Hilton Houston Post Oak Loan Combination, including the Hilton Houston Post Oak Mortgage Loan, is being serviced and administered under a pooling and servicing agreement, dated as of November 1, 2014 (the “JPMBB 2014-C25 Pooling and Servicing Agreement”), among the Depositor, as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor, relating to the JPMBB Commercial Mortgage Securities Trust 2014-C25 securitization transaction into which the Hilton Houston Post Oak Companion Loan was deposited. An execution copy of the JPMBB 2014-C25 Pooling and Servicing Agreement is attached hereto as Exhibit 1.1.
As disclosed in the Prospectus Supplement filed by the Issuing Entity pursuant to Rule 424(b)(5) with respect to the Certificates on October 22, 2014 (the “Prospectus Supplement”), the terms and conditions of the JPMBB 2014-C25 Pooling and Servicing Agreement applicable to the servicing of the Hilton Houston Post Oak Mortgage Loan are substantially similar to the terms and conditions of the Pooling and Servicing Agreement, as described under “Servicing of the Mortgage Loans” in the Prospectus Supplement, applicable to the servicing of the other Mortgage Loans.
Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit 1.1 | Pooling and Servicing Agreement, dated as of November 1, 2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: November 24, 2014 | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. | ||
By: | /s/ Bianca A. Russo | ||
Name: Bianca A. Russo | |||
Title: Managing Director and Secretary |
INDEX TO EXHIBITS
Item 601(a) of Regulation S-K Exhibit No. | Description | Paper (P) or Electronic (E) | |
1.1 | Pooling and Servicing Agreement, dated as of November 1, 2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor. | (E) |