| | FREE WRITING PROSPECTUS |
| | FILED PURSUANT TO RULE 433 |
| | REGISTRATION FILE NO.: 333-206677-27 |
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| WFCM 2018-C46 Disclaimer STATEMENT REGARDING THIS FREE WRITING PROSPECTUS The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-206677) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com. Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time. STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Wells Fargo Securities, LLC, Barclays Capital Inc., Academy Securities, Inc., or any of their respective affiliates, make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us. This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement. Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, a member of NYSE, FINRA, NFA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC are distinct entities from affiliated banks and thrifts. IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES The information herein is preliminary and may be supplemented or amended prior to the time of sale. In addition, the Offered Certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined, or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials. The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale. IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system. | |
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ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Cross Collateralized and Cross Defaulted Loan Flag | Address | City | State | Zip Code | General Property Type | Specific Property Type | Year Built | Year Renovated | Number of Units(2) | Unit of Measure(2) | Cut-off Date Balance Per Unit/SF(7) | Original Balance ($) | Cut-off Date Balance ($) | % of Aggregate Cut-off Date Balance | Maturity Date or ARD Balloon Payment ($) | ARD Loan |
1 | The Ballantyne | WFB | | 10000 Ballantyne Commons Parkway and 13015 Ballantyne Corporate Place | Charlotte | NC | 28277 | Hospitality | Full Service | 2000 | 2018 | 244 | Rooms | 225,410 | 55,000,000 | 55,000,000 | 7.9% | 50,655,926 | N |
2 | Fair Oaks Mall | Barclays | | 11750 Fair Oaks Mall | Fairfax | VA | 22033 | Retail | Super Regional Mall | 1980 | 2014 | 779,949 | Sq. Ft. | 224 | 40,625,000 | 40,498,396 | 5.9% | 37,645,155 | N |
3 | Town Center Aventura | WFB | | 18701-18995 Biscayne Boulevard; 2711 Northeast 187th Street | Aventura | FL | 33180 | Retail | Anchored | 1979 | 2013 | 186,138 | Sq. Ft. | 430 | 40,000,000 | 40,000,000 | 5.8% | 40,000,000 | N |
4 | Silver Spring Plaza | WFB | | 8757 Georgia Avenue | Silver Spring | MD | 20910 | Office | Suburban | 1970 | 2001 | 242,823 | Sq. Ft. | 144 | 35,000,000 | 35,000,000 | 5.1% | 35,000,000 | N |
5 | Showcase II | WFB | | 3791 South Las Vegas Boulevard | Las Vegas | NV | 89109 | Retail | Anchored | 2001 | 2018 | 41,407 | Sq. Ft. | 3,091 | 33,000,000 | 33,000,000 | 4.8% | 33,000,000 | N |
6 | 350 East 52nd Street | Barclays | | 350 East 52nd Street | New York | NY | 10022 | Multifamily | High Rise | 1962 | | 137 | Units | 234,307 | 32,100,000 | 32,100,000 | 4.6% | 32,100,000 | N |
7 | Constitution Plaza | BSP | | 1, 10, 100, 248, 250 & 260 Constitution Plaza | Hartford | CT | 06103 | Office | CBD | 1962 | 2004 | 659,315 | Sq. Ft. | 83 | 25,000,000 | 24,932,921 | 3.6% | 23,357,886 | N |
8 | Somerset Financial Center | RMF | | 1405 and 1425 U.S. Route 206 | Bedminster | NJ | 07921 | Office | Single Tenant | 1998 | 2017 | 230,000 | Sq. Ft. | 183 | 24,000,000 | 24,000,000 | 3.5% | 24,000,000 | N |
9 | Moffett Towers II - Building 1 | Barclays | | 1100 Discovery Way | Sunnyvale | CA | 94089 | Office | Suburban | 2018 | | 350,633 | Sq. Ft. | 479 | 20,000,000 | 20,000,000 | 2.9% | 18,256,839 | N |
10 | Owasso Market | AREF | | East 96th Street North | Owasso | OK | 74055 | Retail | Anchored | 2000 | | 351,370 | Sq. Ft. | 54 | 18,830,000 | 18,830,000 | 2.7% | 18,830,000 | N |
11 | Florence Square | BSP | | 111 Cox Creek Parkway South | Florence | AL | 35630 | Retail | Anchored | 1991 | 2017 | 219,282 | Sq. Ft. | 82 | 18,100,000 | 18,082,226 | 2.6% | 15,042,695 | N |
12 | Skyline Village | Barclays | | 2035 East Market Street | Harrisonburg | VA | 22801 | Retail | Anchored | 1988 | | 190,384 | Sq. Ft. | 130 | 15,000,000 | 15,000,000 | 2.2% | 13,290,605 | N |
13 | Tower Place | AREF | | 8700 Pineville-Matthews Road | Charlotte | NC | 28226 | Retail | Anchored | 1985 | | 115,021 | Sq. Ft. | 126 | 14,542,500 | 14,542,500 | 2.1% | 13,370,758 | N |
14 | 583-593 West 215th Street | AREF | | 583-593 West 215th Street | New York | NY | 10034 | Multifamily | Mid Rise | 1930 | | 67 | Units | 208,955 | 14,000,000 | 14,000,000 | 2.0% | 14,000,000 | N |
15 | Ardsley Town Center | WFB | | 875 Saw Mill River Road | Ardsley | NY | 10502 | Retail | Unanchored | 1968 | 2017 | 37,210 | Sq. Ft. | 376 | 14,000,000 | 14,000,000 | 2.0% | 14,000,000 | N |
16 | Torrance Technology Campus | AREF | | 3100 Lomita Boulevard | Torrance | CA | 90505 | Office | R&D | 1966 | 2017 | 575,976 | Sq. Ft. | 163 | 13,750,000 | 13,750,000 | 2.0% | 13,750,000 | N |
17 | Heritage at Deerwood | Barclays | | 10901 Burnt Mill Road | Jacksonville | FL | 32256 | Multifamily | Garden | 2001 | | 123 | Units | 105,691 | 13,000,000 | 13,000,000 | 1.9% | 13,000,000 | N |
18 | Eastern Commons | BSP | | 10305, 10525, & 10565 South Eastern | Henderson | NV | 89052 | Retail | Anchored | 2001 | 2016 | 65,961 | Sq. Ft. | 197 | 13,000,000 | 13,000,000 | 1.9% | 13,000,000 | N |
19 | Westar I & II | AREF | | 315 Bob Heath Drive and 890 Explorer Boulevard | Huntsville | AL | 35806 | Office | Suburban | 2006 | | 166,716 | Sq. Ft. | 78 | 13,000,000 | 13,000,000 | 1.9% | 10,697,911 | N |
20 | Proguard Self Storage-TX | WFB | | 5503 Almeda Road | Houston | TX | 77004 | Self Storage | Self Storage | 2013 | | 87,338 | Sq. Ft. | 145 | 12,700,000 | 12,700,000 | 1.8% | 12,700,000 | N |
21 | Arrowhead Professional Plaza | Barclays | | 18301 North 79th Avenue | Glendale | AZ | 85308 | Office | Medical | 2001 | | 70,652 | Sq. Ft. | 177 | 12,500,000 | 12,500,000 | 1.8% | 11,059,116 | N |
22 | DoubleTree Rocky Mount | BSP | | 651 North Winstead Avenue | Rocky Mount | NC | 27804 | Hospitality | Full Service | 1986 | 2009 | 166 | Rooms | 74,536 | 12,400,000 | 12,373,014 | 1.8% | 10,262,227 | N |
23 | Conway Commons | RMF | | 600-821 Elsinger Boulevard | Conway | AR | 72032 | Retail | Anchored | 2004 | 2011 | 359,995 | Sq. Ft. | 131 | 12,250,000 | 12,250,000 | 1.8% | 11,245,365 | N |
24 | OLHSA Building | AREF | | 196 Cesar East Chavez Avenue | Pontiac | MI | 48342 | Office | Suburban | 1920 | 2011 | 184,473 | Sq. Ft. | 62 | 11,500,000 | 11,500,000 | 1.7% | 9,652,230 | N |
25 | Medical Village At Pine Hills | WFB | | 800, 840, 900 Mercy Drive | Orlando | FL | 32808 | Office | Medical | 1963 | 2017 | 57,623 | Sq. Ft. | 200 | 11,500,000 | 11,500,000 | 1.7% | 9,498,892 | N |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | | 47361, 47281 Bayside Parkway | Fremont | CA | 94538 | Industrial | Flex | 1990 | | 86,022 | Sq. Ft. | 128 | 11,000,000 | 11,000,000 | 1.6% | 9,927,388 | N |
27 | Scotts Village | WFB | | 233-259 Mount Hermon Road | Scotts Valley | CA | 95066 | Retail | Anchored | 1982 | 2007 | 121,299 | Sq. Ft. | 87 | 10,600,000 | 10,600,000 | 1.5% | 9,938,708 | N |
28 | 375 Bristol Street | WFB | | 375 Bristol Street | Costa Mesa | CA | 92626 | Retail | Single Tenant | 1988 | 2018 | 38,152 | Sq. Ft. | 275 | 10,500,000 | 10,500,000 | 1.5% | 10,500,000 | N |
29 | Forest Ridge | AREF | | 8850 Fair Oaks Crossing | Dallas | TX | 75243 | Multifamily | Garden | 1979 | 2017 | 160 | Units | 65,625 | 10,500,000 | 10,500,000 | 1.5% | 9,343,963 | N |
30 | ACG Conlon MHC Portfolio VI | RMF | | Various | Various | Various | Various | Manufactured Housing Community | Manufactured Housing Community | Various | | 334 | Pads | 29,940 | 10,000,000 | 10,000,000 | 1.4% | 9,168,323 | N |
30.01 | Madison MHC | RMF | | 56 Sirloin Strip | Madison | WI | 53713 | Manufactured Housing Community | Manufactured Housing Community | 1950 | | 169 | Pads | | 6,500,000 | 6,500,000 | 0.9% | | |
30.02 | Westwood Forest MHC | RMF | | 1717 Durham Street | Burlington | NC | 27217 | Manufactured Housing Community | Manufactured Housing Community | 1986 | | 165 | Pads | | 3,500,000 | 3,500,000 | 0.5% | | |
31 | HIX Yosemite | BSP | | 151 South Parsons Avenue | Merced | CA | 95341 | Hospitality | Limited Service | 2009 | | 91 | Rooms | 106,593 | 9,700,000 | 9,700,000 | 1.4% | 8,063,396 | N |
32 | 2415 Mission Street | BSP | | 2415 Mission Street | San Francisco | CA | 94110 | Mixed Use | Multifamily/Retail | 1907 | 2018 | 32,525 | Sq. Ft. | 287 | 9,350,000 | 9,350,000 | 1.4% | 9,350,000 | N |
33 | 3737 South Bentley Avenue | Barclays | | 3737 South Bentley Avenue | Los Angeles | CA | 90034 | Multifamily | Mid Rise | 2017 | | 25 | Units | 366,000 | 9,150,000 | 9,150,000 | 1.3% | 9,150,000 | N |
34 | McDonald Industrial | AREF | | 901 North McDonald Street | McKinney | TX | 75069 | Industrial | Flex | 1996 | | 93,840 | Sq. Ft. | 93 | 8,737,500 | 8,737,500 | 1.3% | 7,156,052 | N |
35 | Staybridge Hotel Denver Tech | AREF | | 7150 South Clinton Street | Centennial | CO | 80112 | Hospitality | Extended Stay | 1999 | 2018 | 128 | Rooms | 67,539 | 8,645,000 | 8,645,000 | 1.2% | 8,075,111 | N |
36 | 545 Algonquin | BSP | | 545 East Algonquin Road | Arlington Heights | IL | 60005 | Industrial | Flex | 1990 | | 111,667 | Sq. Ft. | 77 | 8,550,000 | 8,550,000 | 1.2% | 7,584,227 | N |
37 | Hilton Garden Inn Albuquerque Journal | AREF | | 5320 San Antonio Drive Northeast | Albuquerque | NM | 87109 | Hospitality | Limited Service | 2004 | 2016 | 94 | Rooms | 85,106 | 8,000,000 | 8,000,000 | 1.2% | 6,816,129 | N |
38 | Highland Circle | BSP | | 201 Northwood Drive | Atlanta | GA | 30342 | Multifamily | Garden | 1966 | 2017 | 133 | Units | 56,391 | 7,500,000 | 7,500,000 | 1.1% | 7,500,000 | N |
39 | 11 North Pearl Street | BSP | | 11 North Pearl Street | Albany | NY | 12207 | Office | CBD | 1927 | 1999 | 92,181 | Sq. Ft. | 70 | 6,500,000 | 6,459,900 | 0.9% | 4,913,638 | N |
40 | Albertsons Clovis | BSP | | 1905 North Prince Street | Clovis | NM | 88101 | Retail | Single Tenant | 1984 | | 43,484 | Sq. Ft. | 138 | 6,000,000 | 6,000,000 | 0.9% | 6,000,000 | N |
41 | Airport Mini Storage | Barclays | | 1327, 1329, 1333 Lynah Avenue and 520 Bourne Avenue | Garden City | GA | 31408 | Self Storage | Self Storage | 2002 | | 113,040 | Sq. Ft. | 50 | 5,625,000 | 5,625,000 | 0.8% | 5,016,545 | N |
42 | UNICO Dollar General Portfolio II | WFB | | Various | Various | FL | Various | Retail | Single Tenant | Various | | 36,255 | Sq. Ft. | 131 | 4,756,000 | 4,756,000 | 0.7% | 4,756,000 | N |
42.01 | Moore Haven, FL DG | WFB | | 137 10th Street Northwest aka 999 US Highway 27 | Moore Haven | FL | 33471 | Retail | Single Tenant | 2017 | | 10,566 | Sq. Ft. | | 1,336,000 | 1,336,000 | 0.2% | | |
42.02 | Okeechobee, FL DG | WFB | | 8474 US Highway 441 Southeast | Okeechobee | FL | 34974 | Retail | Single Tenant | 2018 | | 9,100 | Sq. Ft. | | 1,250,000 | 1,250,000 | 0.2% | | |
42.03 | Babson Park, FL DG | WFB | | 1040 North Scenic Highway | Babson Park | FL | 33827 | Retail | Single Tenant | 2018 | | 9,100 | Sq. Ft. | | 1,190,000 | 1,190,000 | 0.2% | | |
42.04 | Jay, FL DG | WFB | | 12886 Highway 87 | Jay | FL | 32565 | Retail | Single Tenant | 2018 | | 7,489 | Sq. Ft. | | 980,000 | 980,000 | 0.1% | | |
43 | Camelot Apartments | WFB | | 1022 East Narramore Avenue | Buckeye | AZ | 85326 | Multifamily | Garden | 1986 | 2007 | 80 | Units | 54,688 | 4,375,000 | 4,375,000 | 0.6% | 4,045,784 | N |
44 | Amwiler | WFB | | 3039 Amwiler Road | Atlanta | GA | 30360 | Industrial | Flex | 1985 | 2018 | 75,576 | Sq. Ft. | 49 | 3,675,000 | 3,675,000 | 0.5% | 3,095,245 | N |
45 | Williams Landing | BSP | | 600 Williams Landing | Salisbury | MD | 21801 | Multifamily | Student Housing | 2005 | | 72 | Beds | 49,213 | 3,550,000 | 3,543,300 | 0.5% | 2,998,650 | N |
46 | Pine Hills | BSP | | 1021 Church Street | Smyrna | GA | 30080 | Multifamily | Garden | 1963 | 2018 | 48 | Units | 72,842 | 3,500,000 | 3,496,436 | 0.5% | 2,894,931 | N |
47 | Melrose Mansion | WFB | | 919 Esplanade Avenue; 937 Esplanade Avenue; 1416-1418 Burgundy Street | New Orleans | LA | 70116 | Hospitality | Limited Service | 1884 | 2015 | 21 | Rooms | 137,969 | 2,900,000 | 2,897,356 | 0.4% | 2,699,261 | N |
48 | UNICO Dollar General Portfolio I | WFB | | Various | Various | Various | Various | Retail | Single Tenant | 2018 | | 25,689 | Sq. Ft. | 105 | 2,690,000 | 2,690,000 | 0.4% | 2,690,000 | N |
48.01 | Knoxville, TN DG | WFB | | 3812 Boyd’s Bridge Pike | Knoxville | TN | 37914 | Retail | Single Tenant | 2018 | | 9,100 | Sq. Ft. | | 970,000 | 970,000 | 0.1% | | |
48.02 | Piney River, VA DG | WFB | | 5657 Lowesville Road | Piney River | VA | 22964 | Retail | Single Tenant | 2018 | | 7,489 | Sq. Ft. | | 790,000 | 790,000 | 0.1% | | |
48.03 | Ivanhoe, VA DG | WFB | | 221 Sipe Lane | Ivanhoe | VA | 24350 | Retail | Single Tenant | 2018 | | 9,100 | Sq. Ft. | | 930,000 | 930,000 | 0.1% | | |
49 | CVS - East Hampton | WFB | | 71 Montauk Highway | East Hampton | NY | 11937 | Retail | Single Tenant | 2017 | | 9,982 | Sq. Ft. | 180 | 1,800,000 | 1,800,000 | 0.3% | 1,800,000 | N |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Origination Date | First Pay Date | Last IO Pay Date | First P&I Pay Date | Maturity Date or Anticipated Repayment Date | ARD Loan Maturity Date | Gross Mortgage Rate | Trust Advisor Fee | Certificate Administrator Fee Rate | Servicing Fee | CREFC® IP Royalty License Fee Rate | Asset Representations Reviewer Fee Rate | Net Mortgage Rate | Interest Accrual Method | Monthly P&I Payment ($) | Amortization Type(3) | Interest Accrual Method During IO | Original Term to Maturity or ARD (Mos.) | Remaining Term to Maturity or ARD (Mos.) | Original IO Period (Mos.) | Remaining IO Period (Mos.) |
1 | The Ballantyne | WFB | 6/29/2018 | 8/11/2018 | 7/11/2023 | 8/11/2023 | 7/11/2028 | | 4.90000% | 0.00290% | 0.01020% | 0.01500% | 0.00050% | 0.00040% | 4.87100% | Actual/360 | 291,899.70 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 60 | 59 |
2 | Fair Oaks Mall | Barclays | 4/27/2018 | 6/10/2018 | | 6/10/2018 | 5/10/2023 | | 4.25800% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.24190% | Actual/360 | 189,997.00 | Amortizing Balloon | | 60 | 57 | 0 | 0 |
3 | Town Center Aventura | WFB | 7/2/2018 | 8/11/2018 | 7/11/2028 | | 7/11/2028 | | 4.89000% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.87390% | Actual/360 | 165,263.89 | Interest-only, Balloon | Actual/360 | 120 | 119 | 120 | 119 |
4 | Silver Spring Plaza | WFB | 7/3/2018 | 8/11/2018 | 7/11/2023 | | 7/11/2023 | | 4.90000% | 0.00290% | 0.01020% | 0.02250% | 0.00050% | 0.00040% | 4.86350% | Actual/360 | 144,901.62 | Interest-only, Balloon | Actual/360 | 60 | 59 | 60 | 59 |
5 | Showcase II | WFB | 4/24/2018 | 6/11/2018 | 5/11/2028 | | 5/11/2028 | | 4.89630% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.88020% | Actual/360 | 136,518.36 | Interest-only, Balloon | Actual/360 | 120 | 117 | 120 | 117 |
6 | 350 East 52nd Street | Barclays | 7/23/2018 | 9/6/2018 | 8/6/2028 | | 8/6/2028 | | 4.97850% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.95950% | Actual/360 | 135,024.53 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
7 | Constitution Plaza | BSP | 4/18/2018 | 6/6/2018 | | 6/6/2018 | 5/6/2023 | | 5.99000% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.97390% | Actual/360 | 150,137.20 | Amortizing Balloon | | 60 | 57 | 0 | 0 |
8 | Somerset Financial Center | RMF | 7/25/2018 | 9/6/2018 | 8/6/2028 | | 8/6/2028 | | 5.12000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.10100% | Actual/360 | 103,822.22 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
9 | Moffett Towers II - Building 1 | Barclays | 7/13/2018 | 9/6/2018 | 8/6/2023 | 9/6/2023 | 4/6/2028 | | 3.89397% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 3.87787% | Actual/360 | 94,264.52 | Interest-only, Amortizing Balloon | Actual/360 | 116 | 116 | 60 | 60 |
10 | Owasso Market | AREF | 7/27/2018 | 9/6/2018 | 8/6/2028 | | 8/6/2028 | | 5.31000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.29100% | Actual/360 | 84,480.01 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
11 | Florence Square | BSP | 6/21/2018 | 8/6/2018 | | 8/6/2018 | 7/6/2028 | | 5.33000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.31100% | Actual/360 | 100,847.61 | Amortizing Balloon | | 120 | 119 | 0 | 0 |
12 | Skyline Village | Barclays | 7/20/2018 | 9/6/2018 | 8/6/2021 | 9/6/2021 | 8/6/2028 | | 5.04000% | 0.00290% | 0.01020% | 0.04500% | 0.00050% | 0.00040% | 4.98100% | Actual/360 | 80,890.34 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 36 | 36 |
13 | Tower Place | AREF | 7/12/2018 | 9/6/2018 | 8/6/2023 | 9/6/2023 | 8/6/2028 | | 4.79000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.77100% | Actual/360 | 76,211.58 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 60 | 60 |
14 | 583-593 West 215th Street | AREF | 6/28/2018 | 8/6/2018 | 7/6/2028 | | 7/6/2028 | | 5.45500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.43600% | Actual/360 | 64,525.58 | Interest-only, Balloon | Actual/360 | 120 | 119 | 120 | 119 |
15 | Ardsley Town Center | WFB | 6/1/2018 | 7/11/2018 | 6/11/2028 | | 6/11/2028 | | 4.88000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.86100% | Actual/360 | 57,724.07 | Interest-only, Balloon | Actual/360 | 120 | 118 | 120 | 118 |
16 | Torrance Technology Campus | AREF | 6/5/2018 | 7/6/2018 | 6/6/2028 | | 6/6/2028 | | 4.42000% | 0.00000% | 0.01020% | 0.00375% | 0.00050% | 0.00040% | 4.40515% | Actual/360 | 51,349.25 | Interest-only, Balloon | Actual/360 | 120 | 118 | 120 | 118 |
17 | Heritage at Deerwood | Barclays | 7/10/2018 | 8/6/2018 | 7/6/2023 | | 7/6/2023 | | 5.12500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.10600% | Actual/360 | 56,291.96 | Interest-only, Balloon | Actual/360 | 60 | 59 | 60 | 59 |
18 | Eastern Commons | BSP | 5/22/2018 | 7/6/2018 | 6/6/2028 | | 6/6/2028 | | 4.65000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.63100% | Actual/360 | 51,074.65 | Interest-only, Balloon | Actual/360 | 120 | 118 | 120 | 118 |
19 | Westar I & II | AREF | 7/27/2017 | 9/6/2018 | | 9/6/2018 | 8/6/2028 | | 5.02500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.00600% | Actual/360 | 69,985.57 | Amortizing Balloon | | 120 | 120 | 0 | 0 |
20 | Proguard Self Storage-TX | WFB | 7/12/2018 | 9/11/2018 | 8/11/2023 | | 8/11/2023 | | 5.23000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.21100% | Actual/360 | 56,119.59 | Interest-only, Balloon | Actual/360 | 60 | 60 | 60 | 60 |
21 | Arrowhead Professional Plaza | Barclays | 6/21/2018 | 8/6/2018 | 7/6/2021 | 8/6/2021 | 7/6/2028 | | 4.97000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.95100% | Actual/360 | 66,873.71 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 36 | 35 |
22 | DoubleTree Rocky Mount | BSP | 5/30/2018 | 7/6/2018 | | 7/6/2018 | 6/6/2028 | | 5.20000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.18100% | Actual/360 | 68,089.75 | Amortizing Balloon | | 120 | 118 | 0 | 0 |
23 | Conway Commons | RMF | 7/17/2018 | 9/6/2018 | 8/6/2023 | 9/6/2023 | 8/6/2028 | | 4.69000% | 0.00000% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.67390% | Actual/360 | 63,459.52 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 60 | 60 |
24 | OLHSA Building | AREF | 7/25/2018 | 9/6/2018 | | 9/6/2018 | 8/6/2028 | | 5.65000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.63100% | Actual/360 | 66,382.12 | Amortizing Balloon | | 120 | 120 | 0 | 0 |
25 | Medical Village At Pine Hills | WFB | 7/24/2018 | 9/11/2018 | | 9/11/2018 | 8/11/2028 | | 5.14000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.12100% | Actual/360 | 62,722.18 | Amortizing Balloon | | 120 | 120 | 0 | 0 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | 7/9/2018 | 8/11/2018 | 7/11/2022 | 8/11/2022 | 7/11/2028 | | 4.89000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.87100% | Actual/360 | 58,313.10 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 48 | 47 |
27 | Scotts Village | WFB | 7/24/2018 | 9/11/2018 | 8/11/2024 | 9/11/2024 | 8/11/2028 | | 4.84000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.82100% | Actual/360 | 55,871.10 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 72 | 72 |
28 | 375 Bristol Street | WFB | 7/20/2018 | 9/11/2018 | 8/11/2028 | | 8/11/2028 | | 5.19000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.17100% | Actual/360 | 46,043.23 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
29 | Forest Ridge | AREF | 6/21/2018 | 8/6/2018 | 7/6/2021 | 8/6/2021 | 7/6/2028 | | 5.24000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.22100% | Actual/360 | 57,916.37 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 36 | 35 |
30 | ACG Conlon MHC Portfolio VI | RMF | 5/30/2018 | 7/6/2018 | 6/6/2023 | 7/6/2023 | 6/6/2028 | | 4.61000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.59100% | Actual/360 | 51,324.22 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 118 | 60 | 58 |
30.01 | Madison MHC | RMF | | | | | | | | | | | | | | | | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | | | | | | | | | | | | | | | |
31 | HIX Yosemite | BSP | 7/19/2018 | 9/6/2018 | | 9/6/2018 | 8/6/2028 | | 5.34000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.32100% | Actual/360 | 54,105.75 | Amortizing Balloon | | 120 | 120 | 0 | 0 |
32 | 2415 Mission Street | BSP | 7/20/2018 | 9/6/2018 | 8/6/2028 | | 8/6/2028 | | 5.42000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.40100% | Actual/360 | 42,817.37 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
33 | 3737 South Bentley Avenue | Barclays | 7/20/2018 | 9/6/2018 | 8/6/2028 | | 8/6/2028 | | 5.04200% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.02300% | Actual/360 | 38,979.21 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
34 | McDonald Industrial | AREF | 7/26/2018 | 9/6/2018 | | 9/6/2018 | 8/6/2028 | | 4.88000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.86100% | Actual/360 | 46,266.09 | Amortizing Balloon | | 120 | 120 | 0 | 0 |
35 | Staybridge Hotel Denver Tech | AREF | 7/13/2018 | 9/6/2018 | | 9/6/2018 | 8/6/2023 | | 5.89000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.87100% | Actual/360 | 51,221.35 | Amortizing Balloon | | 60 | 60 | 0 | 0 |
36 | 545 Algonquin | BSP | 7/3/2018 | 8/6/2018 | 7/6/2021 | 8/6/2021 | 7/6/2028 | | 5.09000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.07100% | Actual/360 | 46,369.68 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 36 | 35 |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 7/24/2018 | 9/6/2018 | 8/6/2019 | 9/6/2019 | 8/6/2028 | | 5.31500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.29600% | Actual/360 | 44,498.92 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 12 | 12 |
38 | Highland Circle | BSP | 6/1/2018 | 7/6/2018 | 6/6/2023 | | 6/6/2023 | | 4.87000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.85100% | Actual/360 | 30,860.24 | Interest-only, Balloon | Actual/360 | 60 | 58 | 60 | 58 |
39 | 11 North Pearl Street | BSP | 3/16/2018 | 5/6/2018 | | 5/6/2018 | 4/6/2028 | | 5.30000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.28100% | Actual/360 | 39,143.08 | Amortizing Balloon | | 120 | 116 | 0 | 0 |
40 | Albertsons Clovis | BSP | 7/10/2018 | 9/6/2018 | 8/6/2023 | | 8/6/2023 | | 5.58000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.56100% | Actual/360 | 28,287.50 | Interest-only, Balloon | Actual/360 | 60 | 60 | 60 | 60 |
41 | Airport Mini Storage | Barclays | 7/24/2018 | 9/6/2018 | 8/6/2021 | 9/6/2021 | 8/6/2028 | | 5.34500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.32600% | Actual/360 | 31,393.26 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 36 | 36 |
42 | UNICO Dollar General Portfolio II | WFB | 7/12/2018 | 9/11/2018 | 8/11/2028 | | 8/11/2028 | | 5.19000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.17100% | Actual/360 | 20,855.39 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
42.01 | Moore Haven, FL DG | WFB | | | | | | | | | | | | | | | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | | | | | | | | | | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | | | | | | | | | | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | | | | | | | | | | | | | | | |
43 | Camelot Apartments | WFB | 7/16/2018 | 9/11/2018 | 8/11/2023 | 9/11/2023 | 8/11/2028 | | 5.17000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.15100% | Actual/360 | 23,942.59 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 120 | 60 | 60 |
44 | Amwiler | WFB | 7/10/2018 | 8/11/2018 | 7/11/2019 | 8/11/2019 | 7/11/2028 | | 4.91000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.89100% | Actual/360 | 19,526.55 | Interest-only, Amortizing Balloon | Actual/360 | 120 | 119 | 12 | 11 |
45 | Williams Landing | BSP | 6/4/2018 | 7/6/2018 | | 7/6/2018 | 6/6/2028 | | 5.86000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.84100% | Actual/360 | 20,965.57 | Amortizing Balloon | | 120 | 118 | 0 | 0 |
46 | Pine Hills | BSP | 7/2/2018 | 8/6/2018 | | 8/6/2018 | 7/6/2028 | | 5.18000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.16100% | Actual/360 | 19,175.66 | Amortizing Balloon | | 120 | 119 | 0 | 0 |
47 | Melrose Mansion | WFB | 6/22/2018 | 8/11/2018 | | 8/11/2018 | 7/11/2023 | | 5.63000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.61100% | Actual/360 | 16,703.19 | Amortizing Balloon | | 60 | 59 | 0 | 0 |
48 | UNICO Dollar General Portfolio I | WFB | 7/24/2018 | 9/11/2018 | 8/11/2028 | | 8/11/2028 | | 5.11000% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 5.09100% | Actual/360 | 11,614.01 | Interest-only, Balloon | Actual/360 | 120 | 120 | 120 | 120 |
48.01 | Knoxville, TN DG | WFB | | | | | | | | | | | | | | | | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | | | | | | | | | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | | | | | | | | | | | | | | | |
49 | CVS - East Hampton | WFB | 7/3/2018 | 8/11/2018 | 7/11/2028 | | 7/11/2028 | | 4.94500% | 0.00290% | 0.01020% | 0.00500% | 0.00050% | 0.00040% | 4.92600% | Actual/360 | 7,520.52 | Interest-only, Balloon | Actual/360 | 120 | 119 | 120 | 119 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Original Amort Term (Mos.) | Remaining Amort Term (Mos.) | Seasoning | Prepayment Provisions | Grace Period Default (Days)(4) | Grace Period Late (Days) | Appraised Value ($)(6) | Appraisal Date | Coop -Rental Value | Coop - LTV as Rental | Coop - Unsold Percent | Coop - Sponsor Units | Coop - Investor Units | Coop - Units | Coop - Sponsor Carry | Coop - Committed Secondary Debt | U/W NOI DSCR (x)(7)(15)(17) |
1 | The Ballantyne | WFB | 360 | 360 | 1 | L(25),D(91),O(4) | 0 | 5 | 96,800,000 | 6/9/2019 | | | | | | | | | 2.39 |
2 | Fair Oaks Mall | Barclays | 360 | 357 | 3 | L(27),D(29),O(4) | 0 | 0 | 545,600,000 | 2/3/2018 | | | | | | | | | 3.05 |
3 | Town Center Aventura | WFB | 0 | 0 | 1 | L(25),D(88),O(7) | 0 | 0 | 133,400,000 | 5/11/2018 | | | | | | | | | 1.63 |
4 | Silver Spring Plaza | WFB | 0 | 0 | 1 | L(25),GRTR 1% or YM(28),O(7) | 0 | 0 | 56,900,000 | 5/30/2018 | | | | | | | | | 2.66 |
5 | Showcase II | WFB | 0 | 0 | 3 | L(27),D(89),O(4) | 0 | 5 | 237,000,000 | 4/1/2019 | | | | | | | | | 1.64 |
6 | 350 East 52nd Street | Barclays | 0 | 0 | 0 | L(24),D(92),O(4) | 0 | 0 | 62,900,000 | 6/19/2018 | | | | | | | | | 1.56 |
7 | Constitution Plaza | BSP | 357 | 354 | 3 | L(27),D(29),O(4) | 0 | 0 | 94,400,000 | 2/1/2018 | | | | | | | | | 1.69 |
8 | Somerset Financial Center | RMF | 0 | 0 | 0 | L(24),D(92),O(4) | 0 | 0 | 65,000,000 | 5/30/2018 | | | | | | | | | 1.82 |
9 | Moffett Towers II - Building 1 | Barclays | 360 | 360 | 0 | L(24),GRTR 1% or YM or D(88),O(4) | 0 | 0 | 358,600,000 | 12/1/2018 | | | | | | | | | 2.03 |
10 | Owasso Market | AREF | 0 | 0 | 0 | L(24),GRTR 1% or YM(92),O(4) | 0 | 0 | 28,300,000 | 6/28/2018 | | | | | | | | | 1.89 |
11 | Florence Square | BSP | 360 | 359 | 1 | L(25),D(91),O(4) | 0 | 0 | 25,000,000 | 4/19/2018 | | | | | | | | | 1.44 |
12 | Skyline Village | Barclays | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 33,460,000 | 6/4/2018 | | | | | | | | | 1.64 |
13 | Tower Place | AREF | 360 | 360 | 0 | L(24),D(93),O(3) | 0 | 0 | 21,400,000 | 6/8/2018 | | | | | | | | | 1.91 |
14 | 583-593 West 215th Street | AREF | 0 | 0 | 1 | L(25),D(91),O(4) | 0 | 0 | 23,200,000 | 4/26/2018 | | | | | | | | | 1.23 |
15 | Ardsley Town Center | WFB | 0 | 0 | 2 | L(26),GRTR 1% or YM(89),O(5) | 0 | 0 | 22,300,000 | 4/12/2018 | | | | | | | | | 1.69 |
16 | Torrance Technology Campus | AREF | 0 | 0 | 2 | L(26),GRTR 1% or YM or D(89),O(5) | 0 | 0 | 131,250,000 | 4/30/2018 | | | | | | | | | 2.30 |
17 | Heritage at Deerwood | Barclays | 0 | 0 | 1 | L(25),D(31),O(4) | 0 | 0 | 20,350,000 | 4/27/2018 | | | | | | | | | 1.78 |
18 | Eastern Commons | BSP | 0 | 0 | 2 | L(26),D(90),O(4) | 0 | 0 | 24,850,000 | 4/23/2018 | | | | | | | | | 2.54 |
19 | Westar I & II | AREF | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 23,000,000 | 4/16/2018 | | | | | | | | | 2.31 |
20 | Proguard Self Storage-TX | WFB | 0 | 0 | 0 | L(24),D(30),O(6) | 0 | 0 | 21,500,000 | 6/2/2018 | | | | | | | | | 1.95 |
21 | Arrowhead Professional Plaza | Barclays | 360 | 360 | 1 | L(25),D(91),O(4) | 0 | 0 | 17,580,000 | 5/24/2018 | | | | | | | | | 1.48 |
22 | DoubleTree Rocky Mount | BSP | 360 | 358 | 2 | L(26),D(90),O(4) | 0 | 0 | 18,400,000 | 5/1/2019 | | | | | | | | | 1.89 |
23 | Conway Commons | RMF | 360 | 360 | 0 | L(23),GRTR 1% or YM(93),O(4) | 0 | 0 | 80,550,000 | 6/29/2018 | | | | | | | | | 1.62 |
24 | OLHSA Building | AREF | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 18,900,000 | 7/9/2018 | | | | | | | | | 2.06 |
25 | Medical Village At Pine Hills | WFB | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 15,700,000 | 3/26/2018 | | | | | | | | | 1.56 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | 360 | 360 | 1 | L(25),D(88),O(7) | 0 | 0 | 18,660,000 | 9/1/2018 | | | | | | | | | 1.51 |
27 | Scotts Village | WFB | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 15,550,000 | 4/16/2018 | | | | | | | | | 1.81 |
28 | 375 Bristol Street | WFB | 0 | 0 | 0 | L(24),D(89),O(7) | 0 | 0 | 18,750,000 | 6/5/2018 | | | | | | | | | 1.68 |
29 | Forest Ridge | AREF | 360 | 360 | 1 | L(25),D(92),O(3) | 0 | 0 | 14,500,000 | 5/9/2018 | | | | | | | | | 1.37 |
30 | ACG Conlon MHC Portfolio VI | RMF | 360 | 360 | 2 | L(26),D(90),O(4) | 0 | 0 | 15,980,000 | Various | | | | | | | | | 1.72 |
30.01 | Madison MHC | RMF | | | | | | | 10,390,000 | 4/13/2018 | | | | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | 5,590,000 | 4/9/2018 | | | | | | | | | |
31 | HIX Yosemite | BSP | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 16,700,000 | 5/16/2019 | | | | | | | | | 2.03 |
32 | 2415 Mission Street | BSP | 0 | 0 | 0 | L(24),D(92),O(4) | 0 | 0 | 14,400,000 | 5/31/2018 | | | | | | | | | 1.56 |
33 | 3737 South Bentley Avenue | Barclays | 0 | 0 | 0 | L(25),GRTR 1% or YM(91),O(4) | 0 | 0 | 16,175,000 | 7/18/2018 | | | | | | | | | 1.47 |
34 | McDonald Industrial | AREF | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 11,700,000 | 6/28/2018 | | | | | | | | | 1.63 |
35 | Staybridge Hotel Denver Tech | AREF | 360 | 360 | 0 | L(24),GRTR 2% or YM(32),O(4) | 0 | 0 | 13,900,000 | 6/25/2019 | | | | | | | | | 1.83 |
36 | 545 Algonquin | BSP | 360 | 360 | 1 | L(25),D(91),O(4) | 0 | 0 | 11,500,000 | 5/4/2018 | | | | | | | | | 1.49 |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 11,500,000 | 6/1/2018 | | | | | | | | | 1.94 |
38 | Highland Circle | BSP | 0 | 0 | 2 | L(26),D(27),O(7) | 0 - Two time grace period of 5 days; no more than 1 grace period every 12 months. | 0 | 13,800,000 | 5/10/2018 | | | | | | | | | 2.43 |
39 | 11 North Pearl Street | BSP | 300 | 296 | 4 | L(28),D(87),O(5) | 0 | 0 | 11,000,000 | 1/15/2018 | | | | | | | | | 2.03 |
40 | Albertsons Clovis | BSP | 0 | 0 | 0 | L(24),D(32),O(4) | 0 | 0 | 9,170,000 | 5/21/2018 | | | | | | | | | 1.71 |
41 | Airport Mini Storage | Barclays | 360 | 360 | 0 | L(24),D(92),O(4) | 0 | 0 | 7,650,000 | 7/3/2018 | | | | | | | | | 1.36 |
42 | UNICO Dollar General Portfolio II | WFB | 0 | 0 | 0 | L(24),D(92),O(4) | 0 | 0 | 7,500,000 | Various | | | | | | | | | 1.75 |
42.01 | Moore Haven, FL DG | WFB | | | | | | | 2,100,000 | 5/30/2018 | | | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | 2,000,000 | 5/30/2018 | | | | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | 1,900,000 | 5/30/2018 | | | | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | 1,500,000 | 5/29/2018 | | | | | | | | | |
43 | Camelot Apartments | WFB | 360 | 360 | 0 | L(24),D(89),O(7) | 0 | 0 | 6,300,000 | 6/1/2018 | | | | | | | | | 1.40 |
44 | Amwiler | WFB | 360 | 360 | 1 | L(25),D(91),O(4) | 0 | 0 | 5,000,000 | 6/6/2018 | | | | | | | | | 1.83 |
45 | Williams Landing | BSP | 360 | 358 | 2 | L(26),D(90),O(4) | 0 | 0 | 5,270,000 | 4/18/2018 | | | | | | | | | 1.28 |
46 | Pine Hills | BSP | 360 | 359 | 1 | L(25),D(88),O(7) | 0 - Two time grace period of 5 days; no more than 1 grace period every 12 months. | 0 | 6,500,000 | 6/13/2018 | | | | | | | | | 1.68 |
47 | Melrose Mansion | WFB | 360 | 359 | 1 | L(25),D(31),O(4) | 0 | 0 | 5,300,000 | 5/30/2018 | | | | | | | | | 2.26 |
48 | UNICO Dollar General Portfolio I | WFB | 0 | 0 | 0 | L(24),D(92),O(4) | 0 | 0 | 4,340,000 | Various | | | | | | | | | 1.99 |
48.01 | Knoxville, TN DG | WFB | | | | | | | 1,430,000 | 6/5/2018 | | | | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | 1,340,000 | 6/3/2018 | | | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | 1,570,000 | 6/3/2018 | | | | | | | | | |
49 | CVS - East Hampton | WFB | 0 | 0 | 1 | L(25),D(91),O(4) | 0 | 0 | 7,600,000 | 5/23/2018 | | | | | | | | | 4.19 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | U/W NCF DSCR (x)(7)(15)(17) | Cut-off Date LTV Ratio(6)(7)(17) | LTV Ratio at Maturity or ARD(6)(7)(17) | Cut-off Date U/W NOI Debt Yield(7)(17) | Cut-off Date U/W NCF Debt Yield(7)(17) | U/W Revenues ($)(2)(8) | U/W Expenses ($) | U/W Net Operating Income ($) | U/W Replacement ($)(13) | U/W TI/LC ($)(13) | U/W Net Cash Flow ($) | Occupancy Rate(2)(8) | Occupancy as-of Date | U/W Hotel ADR | U/W Hotel RevPAR | Most Recent Period | Most Recent Revenues ($) | Most Recent Expenses ($) | Most Recent NOI ($)(5) | Most Recent Capital Expenditures | Most Recent NCF ($) | Most Recent Hotel ADR | Most Recent Hotel RevPAR |
1 | The Ballantyne | WFB | 1.95 | 56.8% | 52.3% | 15.2% | 12.4% | 37,917,707 | 29,558,777 | 8,358,929 | 1,516,708 | 0 | 6,842,221 | 67.9% | 6/30/2018 | 243 | 165 | TTM 6/30/2018 | 37,314,973 | 29,387,603 | 7,927,370 | 0 | 7,927,370 | 233 | 158 |
2 | Fair Oaks Mall | Barclays | 2.89 | 32.0% | 29.7% | 17.1% | 16.3% | 45,095,362 | 15,187,457 | 29,907,905 | 144,930 | 1,364,911 | 28,398,064 | 91.6% | 2/1/2018 | | | Actual 2017 | 47,308,867 | 15,012,540 | 32,296,326 | 0 | 32,296,326 | | |
3 | Town Center Aventura | WFB | 1.60 | 60.0% | 60.0% | 8.1% | 7.9% | 8,337,806 | 1,872,202 | 6,465,604 | 37,228 | 96,890 | 6,331,486 | 93.8% | 5/16/2018 | | | TTM 5/31/2018 | 7,927,391 | 1,839,735 | 6,087,656 | 0 | 6,087,656 | | |
4 | Silver Spring Plaza | WFB | 2.45 | 61.5% | 61.5% | 13.2% | 12.2% | 6,871,408 | 2,248,859 | 4,622,549 | 48,565 | 320,938 | 4,253,047 | 87.1% | 6/26/2018 | | | TTM 3/31/2018 | 5,889,630 | 2,441,237 | 3,448,393 | 0 | 3,448,393 | | |
5 | Showcase II | WFB | 1.62 | 54.0% | 54.0% | 8.1% | 8.0% | 11,287,376 | 890,855 | 10,396,521 | 11,180 | 82,912 | 10,302,429 | 100.0% | 7/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
6 | 350 East 52nd Street | Barclays | 1.53 | 51.0% | 51.0% | 7.9% | 7.7% | 5,388,510 | 2,860,808 | 2,527,702 | 46,169 | 0 | 2,481,533 | 97.1% | 6/1/2018 | | | Actual 2017 | 5,178,962 | 2,757,942 | 2,421,020 | 0 | 2,421,020 | | |
7 | Constitution Plaza | BSP | 1.47 | 58.1% | 54.4% | 12.2% | 10.6% | 15,406,027 | 8,714,612 | 6,691,416 | 131,863 | 751,023 | 5,808,530 | 81.3% | 5/1/2018 | | | TTM 5/31/2018 | 13,641,507 | 8,278,837 | 5,362,670 | 882,886 | 4,479,784 | | |
8 | Somerset Financial Center | RMF | 1.80 | 64.6% | 64.6% | 9.5% | 9.4% | 5,297,846 | 1,321,680 | 3,976,166 | 46,000 | 0 | 3,930,166 | 100.0% | 7/24/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
9 | Moffett Towers II - Building 1 | Barclays | 2.00 | 46.8% | 42.8% | 11.5% | 11.3% | 22,533,789 | 3,284,899 | 19,248,890 | 70,127 | 147,194 | 19,031,569 | 100.0% | 7/13/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
10 | Owasso Market | AREF | 1.69 | 66.5% | 66.5% | 10.2% | 9.1% | 2,332,305 | 417,557 | 1,914,748 | 31,447 | 174,436 | 1,708,865 | 98.7% | 7/17/2018 | | | TTM 5/31/2018 | 2,300,740 | 434,564 | 1,866,176 | 0 | 1,866,176 | | |
11 | Florence Square | BSP | 1.32 | 72.3% | 60.2% | 9.6% | 8.8% | 2,109,738 | 372,200 | 1,737,538 | 32,892 | 109,641 | 1,595,005 | 81.3% | 5/1/2018 | | | TTM 4/30/2018 | 1,449,846 | 255,166 | 1,194,680 | 0 | 1,194,680 | | |
12 | Skyline Village | Barclays | 1.54 | 74.1% | 65.7% | 10.6% | 9.9% | 3,167,797 | 537,900 | 2,629,897 | 28,558 | 134,852 | 2,466,487 | 97.9% | 6/1/2018 | | | TTM 5/31/2018 | 3,197,453 | 539,614 | 2,657,840 | 0 | 2,657,840 | | |
13 | Tower Place | AREF | 1.76 | 68.0% | 62.5% | 12.0% | 11.1% | 2,199,368 | 454,261 | 1,745,107 | 23,004 | 115,021 | 1,607,082 | 97.7% | 7/1/2018 | | | TTM 3/31/2018 | 1,692,652 | 464,435 | 1,228,217 | 0 | 1,228,217 | | |
14 | 583-593 West 215th Street | AREF | 1.23 | 51.7% | 51.7% | 6.8% | 6.8% | 1,396,300 | 578,324 | 817,976 | 0 | 0 | 817,976 | 97.0% | 6/19/2018 | | | TTM 4/30/2018 | 1,257,819 | 584,824 | 672,995 | 0 | 672,995 | | |
15 | Ardsley Town Center | WFB | 1.62 | 62.8% | 62.8% | 8.4% | 8.0% | 1,715,401 | 544,877 | 1,170,524 | 7,442 | 41,072 | 1,122,010 | 94.0% | 8/1/2018 | | | TTM 3/31/2018 | 1,656,692 | 543,490 | 1,113,202 | 0 | 1,113,202 | | |
16 | Torrance Technology Campus | AREF | 2.27 | 71.4% | 71.4% | 10.3% | 10.2% | 15,702,037 | 6,052,117 | 9,649,919 | 115,195 | 0 | 9,534,724 | 90.9% | 4/30/2018 | | | TTM 3/31/2018 | 12,040,735 | 4,955,248 | 7,085,487 | 0 | 7,085,487 | | |
17 | Heritage at Deerwood | Barclays | 1.69 | 63.9% | 63.9% | 9.2% | 8.8% | 2,023,086 | 823,148 | 1,199,939 | 55,750 | 0 | 1,144,189 | 95.1% | 7/1/2017 | | | TTM 5/31/2018 | 2,021,462 | 825,142 | 1,196,320 | 138,229 | 1,058,091 | | |
18 | Eastern Commons | BSP | 2.40 | 52.3% | 52.3% | 12.0% | 11.3% | 1,844,861 | 288,101 | 1,556,760 | 13,192 | 72,310 | 1,471,259 | 98.2% | 5/17/2018 | | | TTM 3/31/2018 | 1,802,401 | 277,007 | 1,525,394 | 85,502 | 1,439,892 | | |
19 | Westar I & II | AREF | 1.88 | 56.5% | 46.5% | 14.9% | 12.1% | 2,938,757 | 999,534 | 1,939,223 | 39,467 | 325,000 | 1,574,756 | 100.0% | 7/1/2018 | | | TTM 3/31/2018 | 3,146,190 | 927,589 | 2,218,601 | 0 | 2,218,601 | | |
20 | Proguard Self Storage-TX | WFB | 1.94 | 59.1% | 59.1% | 10.3% | 10.3% | 2,073,640 | 759,650 | 1,313,991 | 8,734 | 0 | 1,305,257 | 92.0% | 6/4/2018 | | | TTM 6/30/2018 | 1,942,177 | 739,745 | 1,202,432 | 0 | 1,202,432 | | |
21 | Arrowhead Professional Plaza | Barclays | 1.44 | 71.1% | 62.9% | 9.5% | 9.2% | 1,697,950 | 512,152 | 1,185,798 | 14,130 | 18,749 | 1,152,918 | 100.0% | 6/19/2018 | | | TTM 5/31/2018 | 1,629,442 | 503,520 | 1,125,922 | 0 | 1,125,922 | | |
22 | DoubleTree Rocky Mount | BSP | 1.68 | 67.2% | 55.8% | 12.5% | 11.1% | 4,360,075 | 2,813,861 | 1,546,214 | 174,403 | 0 | 1,371,811 | 64.5% | 3/31/2018 | 109 | 69 | TTM 3/31/2018 | 4,492,806 | 2,822,141 | 1,670,665 | 177,713 | 1,492,952 | 109 | 71 |
23 | Conway Commons | RMF | 1.54 | 58.7% | 53.8% | 10.1% | 9.6% | 5,615,437 | 855,197 | 4,760,240 | 53,999 | 179,998 | 4,526,244 | 98.3% | 6/30/2018 | | | TTM 5/31/2018 | 5,684,671 | 889,542 | 4,795,129 | 0 | 4,795,129 | | |
24 | OLHSA Building | AREF | 1.77 | 60.8% | 51.1% | 14.3% | 12.2% | 2,574,424 | 935,104 | 1,639,319 | 46,118 | 184,473 | 1,408,728 | 100.0% | 7/1/2018 | | | TTM 6/30/2018 | 2,683,991 | 924,505 | 1,759,485 | 0 | 1,759,485 | | |
25 | Medical Village At Pine Hills | WFB | 1.47 | 73.2% | 60.5% | 10.2% | 9.6% | 1,671,110 | 494,349 | 1,176,761 | 11,525 | 57,623 | 1,107,613 | 92.4% | 7/17/2018 | | | Annualized 4 4/30/2018 | 1,479,691 | 250,062 | 1,229,629 | 0 | 1,229,629 | | |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | 1.43 | 58.9% | 53.2% | 9.6% | 9.1% | 1,496,181 | 439,134 | 1,057,047 | 12,903 | 43,011 | 1,001,133 | 100.0% | 6/7/2018 | | | Annualized 4 4/30/2018 | 1,071,242 | 322,910 | 748,332 | 0 | 748,332 | | |
27 | Scotts Village | WFB | 1.69 | 68.2% | 63.9% | 11.4% | 10.7% | 2,107,085 | 893,565 | 1,213,520 | 23,047 | 60,650 | 1,129,824 | 93.9% | 4/18/2018 | | | Annualized 6 6/30/2018 | 2,377,151 | 817,298 | 1,559,853 | 0 | 1,559,853 | | |
28 | 375 Bristol Street | WFB | 1.63 | 56.0% | 56.0% | 8.9% | 8.6% | 1,097,992 | 168,166 | 929,826 | 9,156 | 19,276 | 901,393 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
29 | Forest Ridge | AREF | 1.30 | 70.3% | 62.4% | 9.0% | 8.6% | 1,719,806 | 798,023 | 921,783 | 40,800 | 0 | 880,983 | 93.1% | 6/11/2018 | | | TTM 5/30/2018 | 1,515,337 | 754,796 | 760,540 | 0 | 760,540 | | |
30 | ACG Conlon MHC Portfolio VI | RMF | 1.69 | 62.6% | 57.4% | 10.6% | 10.4% | 1,556,584 | 496,128 | 1,060,456 | 16,700 | 0 | 1,043,756 | 90.7% | 4/16/2018 | | | TTM 4/30/2018 | 1,522,663 | 489,384 | 1,033,279 | 16,700 | 1,016,579 | | |
30.01 | Madison MHC | RMF | | | | | | 976,051 | 289,210 | 686,841 | 8,450 | 0 | 678,391 | 92.3% | 4/16/2018 | | | TTM 4/30/2018 | 956,133 | 292,257 | 663,876 | 8,450 | 655,426 | | |
30.02 | Westwood Forest MHC | RMF | | | | | | 580,533 | 206,918 | 373,615 | 8,250 | 0 | 365,365 | 89.1% | 4/16/2018 | | | TTM 4/30/2018 | 566,530 | 197,127 | 369,403 | 8,250 | 361,153 | | |
31 | HIX Yosemite | BSP | 1.82 | 58.1% | 48.3% | 13.6% | 12.2% | 3,439,593 | 2,120,017 | 1,319,575 | 137,584 | 0 | 1,181,992 | 84.0% | TTM 5/31/2018 | 120 | 101 | TTM 5/31/2018 | 3,439,593 | 2,091,424 | 1,348,169 | 137,584 | 1,210,586 | 120 | 101 |
32 | 2415 Mission Street | BSP | 1.52 | 64.9% | 64.9% | 8.6% | 8.4% | 1,217,284 | 414,603 | 802,681 | 10,449 | 11,022 | 781,210 | 100.0% | 7/1/2018 | | | TTM 5/31/2018 | 1,014,087 | 440,449 | 573,638 | 0 | 573,638 | | |
33 | 3737 South Bentley Avenue | Barclays | 1.46 | 56.6% | 56.6% | 7.5% | 7.5% | 939,314 | 250,741 | 688,573 | 6,250 | 0 | 682,323 | 100.0% | 6/4/2018 | | | TTM 5/31/2018 | 383,986 | 108,598 | 275,388 | 0 | 275,388 | | |
34 | McDonald Industrial | AREF | 1.55 | 74.7% | 61.2% | 10.4% | 9.8% | 1,289,329 | 384,042 | 905,287 | 10,322 | 35,420 | 859,545 | 100.0% | 7/13/2018 | | | TTM 12/31/2017 | 1,175,197 | 328,807 | 846,390 | 0 | 846,390 | | |
35 | Staybridge Hotel Denver Tech | AREF | 1.60 | 62.2% | 58.1% | 13.0% | 11.4% | 3,465,337 | 2,341,095 | 1,124,242 | 138,613 | 0 | 985,628 | 73.6% | 5/31/2018 | 100 | 73 | TTM 5/31/2018 | 3,465,337 | 2,390,783 | 1,074,555 | 0 | 1,074,555 | 100 | 73 |
36 | 545 Algonquin | BSP | 1.34 | 74.3% | 65.9% | 9.7% | 8.7% | 1,567,694 | 739,244 | 828,449 | 13,200 | 70,199 | 745,050 | 100.0% | 7/1/2018 | | | TTM 2/28/2018 | 1,602,948 | 713,800 | 889,148 | 0 | 889,148 | | |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 1.71 | 69.6% | 59.3% | 12.9% | 11.4% | 3,065,582 | 2,030,559 | 1,035,023 | 122,623 | 0 | 912,399 | 77.4% | 5/31/2018 | 104 | 81 | TTM 5/31/2018 | 3,065,582 | 2,048,437 | 1,017,145 | 0 | 1,017,145 | 104 | 81 |
38 | Highland Circle | BSP | 2.34 | 54.3% | 54.3% | 12.0% | 11.6% | 1,474,695 | 573,165 | 901,531 | 33,250 | 0 | 868,281 | 97.7% | 5/23/2018 | | | TTM 4/30/2018 | 1,419,927 | 578,140 | 841,787 | 39,900 | 801,887 | | |
39 | 11 North Pearl Street | BSP | 1.89 | 58.7% | 44.7% | 14.8% | 13.7% | 2,290,894 | 1,337,539 | 953,356 | 18,436 | 48,839 | 886,081 | 73.2% | 6/13/2018 | | | TTM 5/31/2018 | 2,322,617 | 1,280,628 | 1,041,988 | 0 | 1,041,988 | | |
40 | Albertsons Clovis | BSP | 1.56 | 65.4% | 65.4% | 9.7% | 8.8% | 783,960 | 202,455 | 581,505 | 8,697 | 43,728 | 529,080 | 100.0% | 8/1/2018 | | | TTM 4/30/2018 | 618,889 | 0 | 618,889 | 0 | 618,889 | | |
41 | Airport Mini Storage | Barclays | 1.33 | 73.5% | 65.6% | 9.1% | 8.9% | 718,419 | 204,669 | 513,750 | 11,304 | 0 | 502,446 | 95.0% | 7/19/2018 | | | TTM 6/30/2018 | 718,419 | 180,215 | 538,205 | 0 | 538,205 | | |
42 | UNICO Dollar General Portfolio II | WFB | 1.74 | 63.4% | 63.4% | 9.2% | 9.1% | 560,546 | 122,328 | 438,218 | 3,626 | 0 | 434,592 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
42.01 | Moore Haven, FL DG | WFB | | | | | | 178,154 | 56,599 | 121,556 | 1,057 | 0 | 120,499 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | 139,706 | 24,822 | 114,884 | 910 | 0 | 113,974 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
42.03 | Babson Park, FL DG | WFB | | | | | | 133,419 | 24,254 | 109,164 | 910 | 0 | 108,254 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
42.04 | Jay, FL DG | WFB | | | | | | 109,267 | 16,654 | 92,613 | 749 | 0 | 91,864 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
43 | Camelot Apartments | WFB | 1.33 | 69.4% | 64.2% | 9.2% | 8.8% | 661,877 | 258,742 | 403,135 | 20,000 | 0 | 383,135 | 100.0% | 7/1/2018 | | | TTM 6/30/2018 | 673,938 | 240,932 | 433,006 | 0 | 433,006 | | |
44 | Amwiler | WFB | 1.70 | 73.5% | 61.9% | 11.7% | 10.8% | 575,299 | 146,632 | 428,667 | 7,558 | 23,012 | 398,098 | 100.0% | 6/25/2018 | | | TTM 5/31/2018 | 386,787 | 85,435 | 301,352 | 0 | 301,352 | | |
45 | Williams Landing | BSP | 1.24 | 67.2% | 56.9% | 9.1% | 8.8% | 485,031 | 164,124 | 320,907 | 8,400 | 0 | 312,507 | 100.0% | 5/9/2018 | | | TTM 4/30/2018 | 441,044 | 155,332 | 285,711 | 7,700 | 278,011 | | |
46 | Pine Hills | BSP | 1.63 | 53.8% | 44.5% | 11.1% | 10.7% | 574,497 | 187,553 | 386,944 | 12,000 | 0 | 374,944 | 100.0% | 5/15/2018 | | | TTM 5/31/2018 | 580,398 | 181,864 | 398,534 | 12,000 | 386,534 | | |
47 | Melrose Mansion | WFB | 2.00 | 54.7% | 50.9% | 15.6% | 13.8% | 1,297,389 | 845,202 | 452,187 | 51,896 | 0 | 400,291 | 74.6% | 5/31/2018 | 220 | 164 | TTM 5/31/2018 | 1,297,389 | 843,816 | 453,573 | 0 | 453,573 | 220 | 164 |
48 | UNICO Dollar General Portfolio I | WFB | 1.97 | 62.0% | 62.0% | 10.3% | 10.2% | 314,928 | 37,599 | 277,329 | 2,569 | 0 | 274,760 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
48.01 | Knoxville, TN DG | WFB | | | | | | 112,362 | 23,502 | 88,860 | 910 | 0 | 87,950 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
48.02 | Piney River, VA DG | WFB | | | | | | 95,131 | 8,297 | 86,833 | 749 | 0 | 86,085 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | 107,436 | 5,800 | 101,636 | 910 | 0 | 100,726 | 100.0% | 8/1/2018 | | | NAV | NAV | NAV | NAV | NAV | NAV | | |
49 | CVS - East Hampton | WFB | 4.18 | 23.7% | 23.7% | 21.0% | 20.9% | 411,858 | 33,872 | 377,986 | 998 | 0 | 376,988 | 100.0% | 8/1/2018 | | | Actual 2017 | 193,475 | 13,837 | 179,638 | 0 | 179,638 | | |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Second Most Recent Period | Second Most Recent Revenues ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent Capital Expenditures | Second Most Recent NCF ($) | Second Most Recent Hotel ADR | Second Most Recent Hotel RevPAR | Third Most Recent Period | Third Most Recent Revenues ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent Capital Expenditures | Third Most Recent NCF ($) | Third Most Recent Hotel ADR | Third Most Recent Hotel RevPAR | Master Lease (Y/N)(2) | Largest Tenant Name(2)(8)(9)(10) | Largest Tenant Sq. Ft. | Largest Tenant % of NRA | Largest Tenant Exp. Date |
1 | The Ballantyne | WFB | Actual 2017 | 36,606,206 | 28,888,625 | 7,717,581 | 0 | 7,717,581 | 234 | 158 | Actual 2016 | 34,517,337 | 28,130,320 | 6,387,017 | 0 | 6,387,017 | 237 | 147 | N | | | | |
2 | Fair Oaks Mall | Barclays | Actual 2016 | 50,381,051 | 15,478,478 | 34,902,573 | 0 | 34,902,573 | | | Actual 2015 | 49,139,554 | 14,789,192 | 34,350,362 | 0 | 34,350,362 | | | N | Macy’s | 215,000 | 27.6% | 2/1/2026 |
3 | Town Center Aventura | WFB | Actual 2017 | 7,926,182 | 1,812,633 | 6,113,549 | 0 | 6,113,549 | | | Actual 2016 | 7,141,380 | 1,747,316 | 5,394,064 | 0 | 5,394,064 | | | N | Publix Supermarket | 47,813 | 25.7% | 11/30/2023 |
4 | Silver Spring Plaza | WFB | Actual 2017 | 5,652,291 | 2,408,378 | 3,243,913 | 0 | 3,243,913 | | | Actual 2016 | 4,955,889 | 2,118,355 | 2,837,534 | 0 | 2,837,534 | | | N | Social & Scientific Systems | 89,272 | 36.8% | 8/31/2023 |
5 | Showcase II | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | American Eagle | 10,960 | 26.5% | 1/31/2028 |
6 | 350 East 52nd Street | Barclays | Actual 2016 | 5,190,661 | 2,750,536 | 2,440,125 | 0 | 2,440,125 | | | Actual 2015 | 5,155,876 | 2,511,603 | 2,644,273 | 0 | 2,644,273 | | | N | | | | |
7 | Constitution Plaza | BSP | Actual 2017 | 13,314,816 | 8,242,540 | 5,072,276 | 882,886 | 4,189,390 | | | Actual 2016 | 15,128,531 | 8,229,542 | 6,898,989 | 882,886 | 6,016,102 | | | N | XL America, Inc | 126,183 | 19.1% | 12/31/2027 |
8 | Somerset Financial Center | RMF | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | Y | Mallinckrodt | 191,000 | 83.0% | 1/31/2030 |
9 | Moffett Towers II - Building 1 | Barclays | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Amazon | 350,633 | 100.0% | 4/30/2028 |
10 | Owasso Market | AREF | Actual 2017 | 2,250,024 | 392,680 | 1,857,344 | 0 | 1,857,344 | | | Actual 2016 | 2,111,312 | 412,878 | 1,698,434 | 0 | 1,698,434 | | | Y | Lowe’s | 191,940 | 54.6% | 9/30/2021 |
11 | Florence Square | BSP | Actual 2017 | 1,146,046 | 239,467 | 906,579 | 0 | 906,579 | | | Actual 2016 | 1,177,944 | 253,931 | 924,013 | 0 | 924,013 | | | N | Academy Sports | 62,946 | 28.7% | 2/28/2033 |
12 | Skyline Village | Barclays | Actual 2017 | 3,103,095 | 499,587 | 2,603,508 | 0 | 2,603,508 | | | Actual 2016 | 3,106,860 | 525,851 | 2,581,010 | 0 | 2,581,010 | | | N | Kohl’s | 88,248 | 46.4% | 4/15/2024 |
13 | Tower Place | AREF | Actual 2017 | 1,641,381 | 466,272 | 1,175,109 | 0 | 1,175,109 | | | Actual 2016 | 1,508,543 | 460,413 | 1,048,130 | 0 | 1,048,130 | | | N | Planet Fitness | 25,782 | 22.4% | 2/29/2028 |
14 | 583-593 West 215th Street | AREF | | | | | | | | | | | | | | | | | N | | | | |
15 | Ardsley Town Center | WFB | Actual 2017 | 1,615,311 | 558,800 | 1,056,511 | 0 | 1,056,511 | | | Actual 2016 | 1,699,524 | 391,167 | 1,308,357 | 0 | 1,308,357 | | | N | Rite Aid | 9,624 | 25.9% | 7/31/2023 |
16 | Torrance Technology Campus | AREF | Actual 2017 | 10,765,437 | 4,870,791 | 5,894,646 | 0 | 5,894,646 | | | Actual 2016 | 9,525,831 | 4,275,675 | 5,250,156 | 0 | 5,250,156 | | | N | L3 Communications Corporation | 461,431 | 80.1% | 9/30/2031 |
17 | Heritage at Deerwood | Barclays | Actual 2017 | 2,184,246 | 836,273 | 1,347,973 | 138,229 | 1,209,744 | | | Actual 2016 | 2,209,174 | 861,738 | 1,347,435 | 138,229 | 1,209,206 | | | N | | | | |
18 | Eastern Commons | BSP | Actual 2017 | 1,807,871 | 277,290 | 1,530,581 | 85,502 | 1,445,079 | | | Actual 2016 | 1,668,641 | 264,397 | 1,404,244 | 85,502 | 1,318,742 | | | N | Trader Joe’s | 13,500 | 20.5% | 9/30/2022 |
19 | Westar I & II | AREF | Actual 2017 | 2,880,078 | 900,912 | 1,979,166 | 0 | 1,979,166 | | | Actual 2016 | 2,071,788 | 549,213 | 1,522,576 | 0 | 1,522,576 | | | N | Raytheon Company | 84,575 | 50.7% | 6/30/2020 |
20 | Proguard Self Storage-TX | WFB | Actual 2017 | 1,830,331 | 755,438 | 1,074,892 | 0 | 1,074,892 | | | Actual 2016 | 1,716,718 | 704,123 | 1,012,594 | 0 | 1,012,594 | | | N | | | | |
21 | Arrowhead Professional Plaza | Barclays | Actual 2017 | 1,486,686 | 489,900 | 996,786 | 0 | 996,786 | | | Actual 2016 | 1,674,177 | 478,070 | 1,196,108 | 0 | 1,196,108 | | | N | Banner Healthcare | 15,184 | 21.5% | 3/31/2022 |
22 | DoubleTree Rocky Mount | BSP | Actual 2017 | 4,510,518 | 2,789,252 | 1,721,266 | 180,421 | 1,540,845 | 110 | 71 | Actual 2016 | 4,441,293 | 2,870,666 | 1,570,627 | 177,652 | 1,392,975 | 110 | 69 | N | | | | |
23 | Conway Commons | RMF | Actual 2017 | 5,749,066 | 903,213 | 4,845,853 | 0 | 4,845,853 | | | Actual 2016 | 5,507,829 | 795,541 | 4,712,288 | 0 | 4,712,288 | | | N | Kohl’s | 88,248 | 24.5% | 1/31/2024 |
24 | OLHSA Building | AREF | Actual 2017 | 2,694,040 | 930,149 | 1,763,891 | 0 | 1,763,891 | | | Actual 2016 | 2,692,862 | 936,036 | 1,756,826 | 0 | 1,756,826 | | | N | Pontiac Academy for Excellence | 107,058 | 58.0% | 6/1/2029 |
25 | Medical Village At Pine Hills | WFB | Actual 2017 | 531,233 | 150,758 | 380,475 | 0 | 380,475 | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Community Health Center | 22,109 | 38.4% | 6/30/2026 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | Actual 2016 | 1,515,649 | 331,754 | 1,183,895 | 0 | 1,183,895 | | | Actual 2015 | 1,070,793 | 318,926 | 751,868 | 0 | 751,868 | | | N | Stryker Corporation | 45,576 | 53.0% | 12/31/2020 |
27 | Scotts Village | WFB | Actual 2017 | 2,346,222 | 919,296 | 1,426,926 | 0 | 1,426,926 | | | Actual 2016 | 2,320,801 | 872,140 | 1,448,661 | 0 | 1,448,661 | | | N | Safeway | 33,333 | 27.5% | 8/11/2023 |
28 | 375 Bristol Street | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Fletcher Jones Motor Cars, Inc. | 38,152 | 100.0% | 1/31/2035 |
29 | Forest Ridge | AREF | Actual 2017 | 1,420,600 | 740,895 | 679,705 | 0 | 679,705 | | | Actual 2016 | 1,201,219 | 685,489 | 515,730 | 0 | 515,730 | | | N | | | | |
30 | ACG Conlon MHC Portfolio VI | RMF | Actual 2017 | 1,519,699 | 490,858 | 1,028,841 | 16,700 | 1,012,141 | | | Actual 2016 | 1,474,467 | 463,538 | 1,010,929 | 16,700 | 994,229 | | | N | | | | |
30.01 | Madison MHC | RMF | Actual 2017 | 961,366 | 290,012 | 671,354 | 8,450 | 662,904 | | | Actual 2016 | 932,424 | 281,843 | 650,581 | 8,450 | 642,131 | | | N | | | | |
30.02 | Westwood Forest MHC | RMF | Actual 2017 | 558,333 | 200,846 | 357,487 | 8,250 | 349,237 | | | Actual 2016 | 542,043 | 181,696 | 360,347 | 8,250 | 352,097 | | | N | | | | |
31 | HIX Yosemite | BSP | Actual 2017 | 3,446,385 | 2,108,788 | 1,337,597 | 137,855 | 1,199,742 | 119 | 101 | Actual 2016 | 3,276,699 | 1,973,489 | 1,303,209 | 131,068 | 1,172,141 | 114 | 96 | N | | | | |
32 | 2415 Mission Street | BSP | Actual 2017 | 827,525 | 394,600 | 432,925 | 0 | 432,925 | | | Annualized 11 12/31/2016 | 637,761 | 314,631 | 323,130 | 0 | 323,130 | | | N | Laundre LLC | 5,027 | 15.5% | 5/1/2021 |
33 | 3737 South Bentley Avenue | Barclays | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | | | | |
34 | McDonald Industrial | AREF | Actual 2016 | 1,135,483 | 332,499 | 802,984 | 0 | 802,984 | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | N | Magnum Products Group | 28,245 | 30.1% | 11/30/2018 |
35 | Staybridge Hotel Denver Tech | AREF | Actual 2017 | 3,541,184 | 2,394,152 | 1,147,032 | 0 | 1,147,032 | 102 | 75 | Actual 2016 | 3,511,002 | 2,314,009 | 1,196,993 | 0 | 1,196,993 | 100 | 74 | N | | | | |
36 | 545 Algonquin | BSP | Actual 2017 | 1,490,192 | 710,296 | 779,896 | 0 | 779,896 | | | Actual 2016 | 1,536,474 | 634,224 | 902,249 | 0 | 902,249 | | | N | Intertek | 95,253 | 85.3% | 12/31/2026 |
37 | Hilton Garden Inn Albuquerque Journal | AREF | Actual 2017 | 3,041,489 | 2,058,336 | 983,153 | 0 | 983,153 | 103 | 79 | Actual 2016 | 2,926,671 | 2,000,389 | 926,282 | 0 | 926,282 | 104 | 76 | N | | | | |
38 | Highland Circle | BSP | Actual 2017 | 1,326,847 | 568,162 | 758,685 | 39,900 | 718,785 | | | Actual 2016 | 1,227,262 | 558,410 | 668,852 | 39,900 | 628,952 | | | N | | | | |
39 | 11 North Pearl Street | BSP | Actual 2017 | 2,318,193 | 1,287,891 | 1,030,303 | 0 | 1,030,303 | | | Actual 2016 | 2,233,947 | 1,288,613 | 945,335 | 0 | 945,334 | | | N | CenturyLink Communications | 18,812 | 20.4% | 1/31/2023 |
40 | Albertsons Clovis | BSP | Actual 2017 | 618,889 | 0 | 618,889 | 0 | 618,889 | | | Actual 2016 | 618,889 | 0 | 618,889 | 0 | 618,889 | | | N | Albertsons | 43,484 | 100.0% | 10/31/2030 |
41 | Airport Mini Storage | Barclays | Actual 2017 | 700,818 | 147,273 | 553,545 | 0 | 553,545 | | | Actual 2016 | 662,583 | 161,113 | 501,470 | 0 | 501,470 | | | N | | | | |
42 | UNICO Dollar General Portfolio II | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | Various | 100.0% | Various |
42.01 | Moore Haven, FL DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 10,566 | 100.0% | 12/31/2032 |
42.02 | Okeechobee, FL DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 9,100 | 100.0% | 1/31/2033 |
42.03 | Babson Park, FL DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 9,100 | 100.0% | 5/31/2033 |
42.04 | Jay, FL DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 7,489 | 100.0% | 5/31/2033 |
43 | Camelot Apartments | WFB | Actual 2017 | 660,553 | 267,771 | 392,782 | 0 | 392,782 | | | Actual 2016 | 645,989 | 274,948 | 371,041 | 0 | 371,041 | | | N | | | | |
44 | Amwiler | WFB | Actual 2017 | 287,927 | 90,196 | 197,731 | 0 | 197,731 | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | D-BAT | 27,214 | 36.0% | 1/31/2024 |
45 | Williams Landing | BSP | Actual 2017 | 451,710 | 158,845 | 292,865 | 7,700 | 285,165 | | | Actual 2016 | 457,598 | 147,770 | 309,828 | 7,700 | 302,128 | | | N | | | | |
46 | Pine Hills | BSP | Actual 2017 | 536,881 | 183,779 | 353,102 | 12,000 | 341,102 | | | TTM 7/31/2016 | 421,188 | 268,588 | 152,600 | 12,000 | 140,600 | | | N | | | | |
47 | Melrose Mansion | WFB | Actual 2017 | 1,271,934 | 832,253 | 439,681 | 0 | 439,681 | 213 | 161 | Actual 2016 | 1,214,120 | 808,048 | 406,072 | 0 | 406,072 | 241 | 153 | N | | | | |
48 | UNICO Dollar General Portfolio I | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | Various | 100.0% | Various |
48.01 | Knoxville, TN DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 9,100 | 100.0% | 5/31/2033 |
48.02 | Piney River, VA DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 7,489 | 100.0% | 6/30/2033 |
48.03 | Ivanhoe, VA DG | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | Dollar General Corporation | 9,100 | 100.0% | 5/31/2033 |
49 | CVS - East Hampton | WFB | NAV | NAV | NAV | NAV | NAV | NAV | | | NAV | NAV | NAV | NAV | NAV | NAV | | | N | CVS Albany, L.L.C. | 9,982 | 100.0% | 1/31/2043 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | 2nd Largest Tenant Name(6)(8)(9)(10) | 2nd Largest Tenant Sq. Ft. | 2nd Largest Tenant % of NRA | 2nd Largest Tenant Exp. Date | 3rd Largest Tenant Name(9) | 3rd Largest Tenant Sq. Ft. | 3rd Largest Tenant % of NRA | 3rd Largest Tenant Exp. Date | 4th Largest Tenant Name(8)(9)(10) | 4th Largest Tenant Sq. Ft. | 4th Largest Tenant % of NRA | 4th Largest Tenant Exp. Date | 5th Largest Tenant Name(8)(9)(10) | 5th Largest Tenant Sq. Ft. | 5th Largest Tenant % of NRA | 5th Largest Tenant Exp. Date |
1 | The Ballantyne | WFB | | | | | | | | | | | | | | | | |
2 | Fair Oaks Mall | Barclays | XXI Forever | 51,317 | 6.6% | 1/31/2022 | H&M | 20,265 | 2.6% | 1/31/2029 | Express | 12,278 | 1.6% | 1/31/2024 | Victoria’s Secret | 12,170 | 1.6% | 1/31/2026 |
3 | Town Center Aventura | WFB | Saks Fifth Avenue Off 5th | 34,627 | 18.6% | 8/31/2023 | Party City | 10,206 | 5.5% | 1/31/2023 | Casual Male Big & Tall | 6,500 | 3.5% | 2/28/2019 | Bonefish Grill | 6,454 | 3.5% | 1/31/2025 |
4 | Silver Spring Plaza | WFB | Synergy Enterprises | 22,376 | 9.2% | 12/31/2020 | Conflulytics, LLC | 22,255 | 9.2% | 9/30/2023 | National Children’s Center, Inc | 15,694 | 6.5% | 12/31/2027 | Catholic Legal Immigration | 10,569 | 4.4% | 7/31/2023 |
5 | Showcase II | WFB | Adidas | 10,350 | 25.0% | 9/30/2027 | T Mobile | 10,249 | 24.8% | 1/31/2028 | Aerie | 5,669 | 13.7% | 5/31/2028 | US Polo | 3,923 | 9.5% | 5/31/2028 |
6 | 350 East 52nd Street | Barclays | | | | | | | | | | | | | | | | |
7 | Constitution Plaza | BSP | Shipman & Goodwin, LLP | 110,145 | 16.7% | 7/31/2026 | UCONN School of Business | 63,241 | 9.6% | 6/30/2027 | The City of Hartford | 47,954 | 7.3% | 6/30/2028 | State of Connecticut Department of Banking | 30,144 | 4.6% | 12/31/2020 |
8 | Somerset Financial Center | RMF | Master Lease | 39,000 | 17.0% | 12/31/2021 | | | | | | | | | | | | |
9 | Moffett Towers II - Building 1 | Barclays | | | | | | | | | | | | | | | | |
10 | Owasso Market | AREF | Kohl’s | 86,763 | 24.7% | 1/31/2021 | Office Depot | 20,000 | 5.7% | 12/31/2020 | Dollar Tree | 8,000 | 2.3% | 8/31/2023 | Shoe Carnival | 8,000 | 2.3% | 1/31/2021 |
11 | Florence Square | BSP | Essex Bargain Hunt | 38,117 | 17.4% | 12/31/2021 | TJ Maxx | 24,000 | 10.9% | 1/31/2024 | PetSmart | 18,634 | 8.5% | 8/31/2027 | Tuesday Morning | 8,020 | 3.7% | 1/31/2019 |
12 | Skyline Village | Barclays | Martin’s | 73,396 | 38.6% | 9/30/2027 | Virginia ABC | 4,300 | 2.3% | 4/30/2019 | CiCi’s Pizza | 3,750 | 2.0% | 12/31/2021 | Appalachian Physical Therapy | 3,000 | 1.6% | 1/31/2022 |
13 | Tower Place | AREF | K&W Cafeterias | 12,108 | 10.5% | 6/30/2021 | Empire Beauty School | 9,600 | 8.3% | 1/31/2020 | Classic Home Billiards | 5,634 | 4.9% | 5/1/2023 | Once Upon a Child | 4,891 | 4.3% | 12/31/2022 |
14 | 583-593 West 215th Street | AREF | | | | | | | | | | | | | | | | |
15 | Ardsley Town Center | WFB | La Catena Ristorante, LLC | 3,900 | 10.5% | 3/31/2025 | Salon 877 LTD | 3,620 | 9.7% | 10/31/2025 | United States Postal Service | 3,408 | 9.2% | 6/30/2019 | JP Morgan Chase Bank, National Association | 3,200 | 8.6% | 12/31/2021 |
16 | Torrance Technology Campus | AREF | Torrance Memorial Medical Center | 61,857 | 10.7% | 1/31/2022 | | | | | | | | | | | | |
17 | Heritage at Deerwood | Barclays | | | | | | | | | | | | | | | | |
18 | Eastern Commons | BSP | US Bank | 5,470 | 8.3% | 5/1/2023 | Applebee’s | 4,738 | 7.2% | 9/30/2021 | Nicole Beauty & Wigs | 4,340 | 6.6% | 9/30/2019 | Studio 1 | 4,100 | 6.2% | 6/30/2023 |
19 | Westar I & II | AREF | Vencore Services & Solutions, Inc. | 42,000 | 25.2% | 4/30/2021 | Dynetics, Inc. | 40,141 | 24.1% | 1/31/2020 | | | | | | | | |
20 | Proguard Self Storage-TX | WFB | | | | | | | | | | | | | | | | |
21 | Arrowhead Professional Plaza | Barclays | Aero Federal Credit Union | 10,068 | 14.3% | 10/31/2020 | AZ Center for Implant | 4,839 | 6.8% | 6/30/2021 | Arizona Spine and Pain Specialists | 4,200 | 5.9% | 7/31/2022 | Desert Sun Smiles | 3,242 | 4.6% | 11/14/2022 |
22 | DoubleTree Rocky Mount | BSP | | | | | | | | | | | | | | | | |
23 | Conway Commons | RMF | T.J. Maxx | 50,000 | 13.9% | 9/30/2019 | Dick’s | 43,466 | 12.1% | 1/31/2027 | Staples | 20,390 | 5.7% | 2/28/2019 | Petsmart | 20,087 | 5.6% | 1/31/2020 |
24 | OLHSA Building | AREF | Oakland Livingston Human Service Agency | 77,414 | 42.0% | 3/31/2028 | | | | | | | | | | | | |
25 | Medical Village At Pine Hills | WFB | Omega Research | 10,200 | 17.7% | 8/31/2024 | West Orange Nephrology | 8,461 | 14.7% | 9/30/2027 | MedXSurg (aka Coastal Medical Group) | 6,650 | 11.5% | 2/21/2024 | SCARF Serving Children | 3,298 | 5.7% | 4/1/2023 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | Enphase | 23,436 | 27.2% | 11/30/2023 | Uniform Industrial Corporation | 17,010 | 19.8% | 8/31/2020 | | | | | | | | |
27 | Scotts Village | WFB | CVS | 26,587 | 21.9% | 2/28/2019 | O’Reilly’s Auto | 6,575 | 5.4% | 7/31/2020 | McDonalds | 3,578 | 2.9% | 1/5/2023 | Chase | 3,500 | 2.9% | 10/31/2023 |
28 | 375 Bristol Street | WFB | | | | | | | | | | | | | | | | |
29 | Forest Ridge | AREF | | | | | | | | | | | | | | | | |
30 | ACG Conlon MHC Portfolio VI | RMF | | | | | | | | | | | | | | | | |
30.01 | Madison MHC | RMF | | | | | | | | | | | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | | | | | | | | | | |
31 | HIX Yosemite | BSP | | | | | | | | | | | | | | | | |
32 | 2415 Mission Street | BSP | Ascend Body | 4,310 | 13.3% | 5/1/2026 | Doc’s Clocks | 1,685 | 5.2% | 7/31/2027 | | | | | | | | |
33 | 3737 South Bentley Avenue | Barclays | | | | | | | | | | | | | | | | |
34 | McDonald Industrial | AREF | Mundo de Fe Church | 10,019 | 10.7% | 11/30/2021 | Texas Human Services (State of Texas) | 8,678 | 9.2% | 8/31/2020 | Magnetic Innovations LLC | 5,407 | 5.8% | 8/31/2019 | Legal Aid of Northwest Texas | 4,980 | 5.3% | 5/31/2023 |
35 | Staybridge Hotel Denver Tech | AREF | | | | | | | | | | | | | | | | |
36 | 545 Algonquin | BSP | GigeNET | 16,414 | 14.7% | 5/31/2023 | | | | | | | | | | | | |
37 | Hilton Garden Inn Albuquerque Journal | AREF | | | | | | | | | | | | | | | | |
38 | Highland Circle | BSP | | | | | | | | | | | | | | | | |
39 | 11 North Pearl Street | BSP | FirstLight Fiber | 12,711 | 13.8% | 5/31/2021 | Intellifiber Networks | 6,235 | 6.8% | 1/31/2020 | Level 3 Communications | 5,987 | 6.5% | 3/31/2034 | Telus Communications | 1,453 | 1.6% | 7/31/2020 |
40 | Albertsons Clovis | BSP | | | | | | | | | | | | | | | | |
41 | Airport Mini Storage | Barclays | | | | | | | | | | | | | | | | |
42 | UNICO Dollar General Portfolio II | WFB | | | | | | | | | | | | | | | | |
42.01 | Moore Haven, FL DG | WFB | | | | | | | | | | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | | | | | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | | | | | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | | | | | | | | | | |
43 | Camelot Apartments | WFB | | | | | | | | | | | | | | | | |
44 | Amwiler | WFB | K Rose, Inc. | 11,958 | 15.8% | 3/31/2023 | Enjoy Technology, Inc. | 6,539 | 8.7% | 11/30/2020 | Microfusion Engineering Lab, Inc. | 6,361 | 8.4% | 11/30/2022 | Intelligent Property Solutions | 5,743 | 7.6% | 11/30/2020 |
45 | Williams Landing | BSP | | | | | | | | | | | | | | | | |
46 | Pine Hills | BSP | | | | | | | | | | | | | | | | |
47 | Melrose Mansion | WFB | | | | | | | | | | | | | | | | |
48 | UNICO Dollar General Portfolio I | WFB | | | | | | | | | | | | | | | | |
48.01 | Knoxville, TN DG | WFB | | | | | | | | | | | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | | | | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | | | | | | | | | | |
49 | CVS - East Hampton | WFB | | | | | | | | | | | | | | | | |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Engineering Report Date | Environmental Report Date (Phase I) | Environmental Report Date (Phase II) | Seismic Report Date | Seismic PML % | Seismic Insurance Required (Y/N) | Terrorism Insurance (Y/N) | Loan Purpose | Engineering Escrow / Deferred Maintenance ($)(6) | Tax Escrow (Initial) | Monthly Tax Escrow ($) | Tax Escrow - Cash or LoC | Tax Escrow - LoC Counterparty | Insurance Escrow (Initial) | Monthly Insurance Escrow ($) | Insurance Escrow - Cash or LoC | Insurance Escrow - LoC Counterparty | Upfront Replacement Reserve ($)(13) | Monthly Replacement Reserve ($)(11)(16) |
1 | The Ballantyne | WFB | 6/14/2018 | 6/14/2018 | | | | N | Y | Refinance | 0 | 270,791 | 33,849 | Cash | | 0 | Springing | | | 0 | 125,271 |
2 | Fair Oaks Mall | Barclays | 2/9/2018 | 2/8/2018 | | | | N | Y | Refinance | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
3 | Town Center Aventura | WFB | 10/6/2017 | 10/6/2017 | | | | N | Y | Refinance | 0 | 451,415 | 56,427 | Cash | | 0 | Springing | | | 0 | 3,102; Springing |
4 | Silver Spring Plaza | WFB | 5/23/2018 | 5/23/2018 | | | | N | Y | Refinance | 0 | 33,614 | 33,615 | Cash | | 0 | Springing | | | 0 | 4,047 |
5 | Showcase II | WFB | 2/28/2018 | 2/28/2018 | | | | N | Y | Refinance | 0 | 26,118 | 8,706 | Cash | | 41,517 | 6,920 | Cash | | 0 | 6,909 |
6 | 350 East 52nd Street | Barclays | 4/10/2018 | 4/9/2018 | | | | N | Y | Refinance | 30,250 | 267,429 | 133,715 | Cash | | 108,822 | 9,069 | Cash | | 0 | 3,847 |
7 | Constitution Plaza | BSP | 2/5/2018 | 2/5/2018 | | | | N | Y | Refinance | 152,500 | 927,676 | 309,225 | Cash | | 0 | 19,223 | Cash | | 0 | 10,989 |
8 | Somerset Financial Center | RMF | 4/2/2018 | 6/8/2018 | | | | N | Y | Acquisition | 30,475 | 124,096 | 39,395 | Cash | | 19,081 | 3,635 | Cash | | 0 | 3,833 |
9 | Moffett Towers II - Building 1 | Barclays | 6/12/2018 | 6/11/2018 | | 6/11/2018 | 5.0% | N | Y | Recapitalization | 0 | 559,294 | 111,859 | Cash | | 0 | Springing | | | 0 | 0 |
10 | Owasso Market | AREF | 7/11/2018 | 7/9/2018 | | | | N | Y | Refinance | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
11 | Florence Square | BSP | 4/22/2018 | 4/26/2018 | | | | N | Y | Acquisition | 0 | 86,015 | 12,288 | Cash | | 7,373 | 3,687 | Cash | | 0 | 2,741 |
12 | Skyline Village | Barclays | 6/26/2018 | 6/8/2018 | | | | N | Y | Acquisition | 158,750 | 43,338 | 21,669 | Cash | | 0 | Springing | | | 0 | 2,380 |
13 | Tower Place | AREF | 6/1/2018 | 7/6/2018 | | | | N | Y | Acquisition | 23,772 | 143,405 | 15,934 | Cash | | 6,562 | 2,187 | Cash | | 750,000 | 1,917 |
14 | 583-593 West 215th Street | AREF | 5/3/2018 | 5/3/2018 | | | | N | Y | Refinance | 0 | 52,538 | 26,269 | Cash | | 9,866 | 3,289 | Cash | | 200,000 | 1,396 |
15 | Ardsley Town Center | WFB | 4/26/2018 | 4/27/2018 | | | | N | Y | Refinance | 39,063 | 61,920 | 32,613 | Cash | | 0 | Springing | | | 0 | 620 |
16 | Torrance Technology Campus | AREF | 5/8/2018 | 8/14/2017 | | 5/7/2018 | 16.0% | N | Y | Acquisition | 0 | 0 | Springing | | | 0 | Springing | | | 0 | 9,600 |
17 | Heritage at Deerwood | Barclays | 5/3/2018 | 5/3/2018 | | | | N | Y | Refinance | 0 | 147,416 | 21,059 | Cash | | 5,250 | 1,750 | Cash | | 0 | 2,563 |
18 | Eastern Commons | BSP | 5/1/2018 | 5/1/2018 | | | | N | Y | Acquisition | 0 | 49,039 | 8,173 | Cash | | 8,556 | 1,428 | Cash | | 0 | 1,099 |
19 | Westar I & II | AREF | 4/25/2018 | 4/23/2018 | | | | N | Y | Refinance | 42,000 | 164,284 | 16,428 | Cash | | 0 | 2,074 | Cash | | 0 | 3,289 |
20 | Proguard Self Storage-TX | WFB | 6/8/2018 | 7/3/2018 | | | | N | Y | Refinance | 0 | 228,081 | 32,583 | Cash | | 27,247 | 2,477 | Cash | | 0 | 1,092; Springing |
21 | Arrowhead Professional Plaza | Barclays | 6/4/2018 | 6/4/2018 | | | | N | Y | Acquisition | 0 | 68,355 | 17,089 | Cash | | 1,445 | 1,445 | Cash | | 0 | 1,178 |
22 | DoubleTree Rocky Mount | BSP | 4/11/2018 | 4/11/2018 | | | | N | Y | Acquisition | 7,500 | 86,661 | 12,380 | Cash | | 14,172 | 3,543 | Cash | | 0 | Springing |
23 | Conway Commons | RMF | 7/9/2018 | 7/9/2018 | | | | N | Y | Refinance | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
24 | OLHSA Building | AREF | 7/11/2018 | 7/13/2018 | | | | N | Y | Refinance | 12,250 | 7,791 | 7,791 | Cash | | 12,342 | 4,114 | Cash | | 0 | 3,843 |
25 | Medical Village At Pine Hills | WFB | 4/27/2018 | 4/26/2018 | | | | N | Y | Refinance | 0 | 39,798 | 4,422 | Cash | | 2,695 | 2,695 | Cash | | 0 | 952 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | 6/5/2018 | 6/5/2018 | | 6/5/2018 | 15.0% | N | Y | Refinance | 0 | 24,300 | 12,150 | Cash | | 0 | Springing | | | 0 | 1,075 |
27 | Scotts Village | WFB | 5/1/2018 | 5/3/2018 | | 5/1/2018 | 12.0% | N | Y | Acquisition | 0 | 60,108 | 10,018 | Cash | | 0 | Springing | | | 0 | 2,022; Springing |
28 | 375 Bristol Street | WFB | 6/21/2018 | 6/26/2018 | | 6/19/2018 | 12.0% | N | Y | Refinance | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
29 | Forest Ridge | AREF | 5/17/2018 | 5/16/2018 | | | | N | Y | Refinance | 34,527 | 118,254 | 16,893 | Cash | | 18,014 | 4,504 | Cash | | 0 | 3,400 |
30 | ACG Conlon MHC Portfolio VI | RMF | 4/23/2018 | 4/23/2018 | | | | N | Y | Refinance | 8,438 | 73,176 | 11,615 | Cash | | 1,826 | 580 | Cash | | 0 | 1,392 |
30.01 | Madison MHC | RMF | 4/23/2018 | 4/23/2018 | | | | N | Y | | | | | | | | | | | | |
30.02 | Westwood Forest MHC | RMF | 4/23/2018 | 4/23/2018 | | | | N | Y | | | | | | | | | | | | |
31 | HIX Yosemite | BSP | 6/26/2018 | 5/23/2018 | | 5/23/2018 | 4.0% | N | Y | Refinance | 0 | 37,389 | 7,478 | Cash | | 43,440 | 6,206 | Cash | | 0 | 4.0% of Gross Revenues |
32 | 2415 Mission Street | BSP | 5/30/2018 | 5/29/2018 | | 5/25/2018 | 14.0% | N | Y | Refinance | 0 | 37,835 | 7,567 | Cash | | 9,650 | 3,217 | Cash | | 0 | 871 |
33 | 3737 South Bentley Avenue | Barclays | 6/15/2018 | 6/15/2018 | | | | N | Y | Refinance | 0 | 16,756 | 10,768 | Cash | | 3,705 | 926 | Cash | | 0 | Springing |
34 | McDonald Industrial | AREF | 7/6/2018 | 7/6/2018 | | | | N | Y | Acquisition | 0 | 126,454 | 14,051 | Cash | | 8,601 | 4,301 | Cash | | 0 | 860 |
35 | Staybridge Hotel Denver Tech | AREF | 3/12/2018 | 3/12/2018 | | | | N | Y | Acquisition | 26,000 | 77,360 | 15,472 | Cash | | 12,257 | 2,043 | Cash | | 26,000 | Springing |
36 | 545 Algonquin | BSP | 3/14/2018 | 5/14/2018 | | | | N | Y | Acquisition | 0 | 41,760 | 41,760 | Cash | | 5,211 | 1,737 | Cash | | 1,100 | 1,100 |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 6/27/2018 | 6/22/2018 | | | | N | Y | Refinance | 9,700 | 24,956 | 6,239 | Cash | | 6,713 | Springing | Cash | | 750,000 | 10,219 |
38 | Highland Circle | BSP | 3/18/2018 | 5/24/2018 | | | | N | Y | Refinance | 0 | 41,805 | 4,645 | Cash | | 12,134 | 4,045 | Cash | | 0 | 2,771 |
39 | 11 North Pearl Street | BSP | 1/24/2018 | 1/23/2018 | | | | N | Y | Refinance | 32,220 | 53,931 | 21,572 | Cash | | 0 | 5,574 | Cash | | 0 | 1,536 |
40 | Albertsons Clovis | BSP | 5/24/2018 | 5/24/2018 | | | | N | Y | Acquisition | 0 | 0 | Springing | | | 0 | Springing | | | 0 | 725 |
41 | Airport Mini Storage | Barclays | 7/18/2018; 7/11/2018 | 7/17/2018; 7/10/2018 | | | | N | Y | Acquisition | 39,781 | 13,437 | 4,479 | Cash | | 0 | 2,063 | Cash | | 0 | 942 |
42 | UNICO Dollar General Portfolio II | WFB | Various | Various | | | | N | Y | Acquisition | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
42.01 | Moore Haven, FL DG | WFB | 5/31/2018 | 6/4/2018 | | | | N | Y | | | | | | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | 6/4/2018 | 5/29/2018 | | | | N | Y | | | | | | | | | | | | |
42.03 | Babson Park, FL DG | WFB | 6/4/2018 | 6/4/2018 | | | | N | Y | | | | | | | | | | | | |
42.04 | Jay, FL DG | WFB | 6/6/2018 | 6/4/2018 | | | | N | Y | | | | | | | | | | | | |
43 | Camelot Apartments | WFB | 6/5/2018 | | | | | N | Y | Acquisition | 0 | 13,368 | 3,342 | Cash | | 2,192 | 1,096 | Cash | | 27,800 | 1,879 |
44 | Amwiler | WFB | 6/15/2018 | 5/2/2018 | | | | N | Y | Acquisition | 57,294 | 28,314 | 2,574 | Cash | | 0 | Springing | | | 0 | 630 |
45 | Williams Landing | BSP | 5/7/2018 | 5/7/2018 | | | | N | Y | Refinance | 0 | 20,176 | 4,484 | Cash | | 21,227 | 3,266 | Cash | | 0 | 700 |
46 | Pine Hills | BSP | 6/20/2018 | 6/20/2018 | | | | N | Y | Refinance | 13,063 | 25,511 | 2,551 | Cash | | 0 | 1,018 | Cash | | 0 | 1,000 |
47 | Melrose Mansion | WFB | 5/22/2018 | 5/22/2018 | | | | N | Y | Refinance | 5,438 | 29,585 | 4,931 | Cash | | 0 | Springing | | | 0 | 4,315 |
48 | UNICO Dollar General Portfolio I | WFB | Various | Various | | | | N | Y | Acquisition | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
48.01 | Knoxville, TN DG | WFB | 5/31/2018 | 5/17/2018 | | | | N | Y | | | | | | | | | | | | |
48.02 | Piney River, VA DG | WFB | 6/20/2018 | 6/28/2018 | | | | N | Y | | | | | | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | 5/30/2018 | 5/25/2018 | | | | N | Y | | | | | | | | | | | | |
49 | CVS - East Hampton | WFB | 5/24/2018 | | | | | N | Y | Refinance | 0 | 0 | Springing | | | 0 | Springing | | | 0 | Springing |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Replacement Reserve Cap ($)(12) | Replacement Reserve Escrow - Cash or LoC | Replacement Reserve Escrow - LoC Counterparty | Upfront TI/LC Reserve ($)(6)(8)(13) | Monthly TI/LC Reserve ($)(8)(13)(14)(16) | TI/LC Reserve Cap ($)(14) | TI/LC Escrow - Cash or LoC |
1 | The Ballantyne | WFB | 0 | Cash | | 0 | 0 | 0 | |
2 | Fair Oaks Mall | Barclays | 0 | | | 3,954,170 | Springing | 0 | Cash |
3 | Town Center Aventura | WFB | 74,456 | Cash | | 600,000 | 15,512 | 372,000 | Cash |
4 | Silver Spring Plaza | WFB | 0 | Cash | | 0 | 30,353; Springing | 1,000,000 | Cash |
5 | Showcase II | WFB | 0 | Cash | | 8,563,335 | 0 | 0 | Cash |
6 | 350 East 52nd Street | Barclays | 0 | Cash | | 0 | 0 | 0 | |
7 | Constitution Plaza | BSP | 0 | Cash | | 0 | 68,679 | 0 | Cash |
8 | Somerset Financial Center | RMF | 230,000 | Cash | | 2,500,000 | 0 | 0 | Cash |
9 | Moffett Towers II - Building 1 | Barclays | 0 | | | 0 | 0 | 0 | |
10 | Owasso Market | AREF | 0 | | | 0 | Springing | 1,756,850 | |
11 | Florence Square | BSP | 0 | Cash | | 450,000 | Springing | 450,000 | Cash |
12 | Skyline Village | Barclays | 0 | Cash | | 341,250 | 11,899 | 713,940 | Cash |
13 | Tower Place | AREF | 0 | Cash | | 83,555 | 9,585 | 345,000 | Cash |
14 | 583-593 West 215th Street | AREF | Initially $200,000. Prior to the Unit Improvement Reserve Release Satisfaction Event, the cap will be $200,000 and subsequent to the Unit Improvement Reserve Release Satisfaction Event, the cap will be $100,000. | Cash | | 0 | 0 | 0 | |
15 | Ardsley Town Center | WFB | 0 | Cash | | 0 | 4,496; Springing | 160,000 | Cash |
16 | Torrance Technology Campus | AREF | 345,586 | Cash | | 474,867 | 47,998 | 1,439,940 | Cash |
17 | Heritage at Deerwood | Barclays | 0 | Cash | | 0 | 0 | 0 | |
18 | Eastern Commons | BSP | 0 | | | 0 | 0 | 0 | |
19 | Westar I & II | AREF | 0 | Cash | | 650,000 | 27,083 | 650,000 | Cash |
20 | Proguard Self Storage-TX | WFB | 40,000 | Cash | | 0 | 0 | 0 | |
21 | Arrowhead Professional Plaza | Barclays | 0 | Cash | | 800,000 | Springing | 0 | Cash |
22 | DoubleTree Rocky Mount | BSP | 0 | | | 0 | 0 | 0 | |
23 | Conway Commons | RMF | 0 | | | 0 | Springing | 899,987 | |
24 | OLHSA Building | AREF | 0 | Cash | | 0 | 15,373 | 0 | Cash |
25 | Medical Village At Pine Hills | WFB | 0 | Cash | | 0 | 9,517 | 0 | Cash |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | 25,806 | Cash | | 0 | 7,169 | 172,044 | Cash |
27 | Scotts Village | WFB | 48,520 | Cash | | 0 | 7,581 | 182,800 | Cash |
28 | 375 Bristol Street | WFB | 0 | | | 0 | Springing | 0 | |
29 | Forest Ridge | AREF | 0 | Cash | | 0 | 0 | 0 | |
30 | ACG Conlon MHC Portfolio VI | RMF | 0 | Cash | | 0 | 0 | 0 | |
30.01 | Madison MHC | RMF | | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | |
31 | HIX Yosemite | BSP | 0 | Cash | | 0 | 0 | 0 | |
32 | 2415 Mission Street | BSP | 0 | Cash | | 20,000 | 919 | 55,110 | Cash |
33 | 3737 South Bentley Avenue | Barclays | 0 | | | 0 | 0 | 0 | |
34 | McDonald Industrial | AREF | 0 | Cash | | 115,000 | 3,910 | 300,000 | Cash |
35 | Staybridge Hotel Denver Tech | AREF | 0 | Cash | | 0 | 0 | 0 | Cash |
36 | 545 Algonquin | BSP | 132,000 | Cash | | 4,653 | 4,653; Springing | 0 | Cash |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 0 | Cash | | 0 | 0 | 0 | |
38 | Highland Circle | BSP | 0 | | | 0 | 0 | 0 | |
39 | 11 North Pearl Street | BSP | 0 | | | 0 | 3,841 | 184,368 | Cash |
40 | Albertsons Clovis | BSP | 0 | Cash | | 0 | Springing | 0 | |
41 | Airport Mini Storage | Barclays | 0 | Cash | | 0 | 0 | 0 | |
42 | UNICO Dollar General Portfolio II | WFB | 0 | | | 0 | Springing | 0 | |
42.01 | Moore Haven, FL DG | WFB | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | |
43 | Camelot Apartments | WFB | 0 | Cash | | 0 | 0 | 0 | |
44 | Amwiler | WFB | 22,674 | Cash | | 0 | 2,500 | 90,000 | Cash |
45 | Williams Landing | BSP | 0 | | | 0 | 0 | 0 | |
46 | Pine Hills | BSP | 0 | Cash | | 0 | 0 | 0 | |
47 | Melrose Mansion | WFB | 0 | Cash | | 0 | 0 | 0 | |
48 | UNICO Dollar General Portfolio I | WFB | 0 | | | 0 | Springing | 0 | |
48.01 | Knoxville, TN DG | WFB | | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | |
49 | CVS - East Hampton | WFB | 0 | | | 0 | Springing | 0 | |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | TI/LC Escrow - LoC Counterparty | Debt Service Escrow (Initial) ($) | Debt Service Escrow (Monthly) ($) | Debt Service Escrow - Cash or LoC | Debt Service Escrow - LoC Counterparty | Other Escrow I Reserve Description | Other Escrow I (Initial) ($)(6)(8)(19) | Other Escrow I (Monthly) ($)(8)(16) | Other Escrow I Cap ($) | Other Escrow I Escrow - Cash or LoC | Other Escrow I - LoC Counterparty | Other Escrow II Reserve Description |
1 | The Ballantyne | WFB | | 0 | 0 | | | PIP Reserve | 5,100,000 | 0 | 0 | Cash | | |
2 | Fair Oaks Mall | Barclays | | 0 | 0 | | | Gap Rent Reserve | 1,183,388 | 0 | 0 | Cash | | Owned Anchor Reserve (Springing); Owned Anchor Termination Reserve (Springing) |
3 | Town Center Aventura | WFB | | 0 | 0 | | | Rent Concession Reserve | 129,259 | 0 | 0 | Cash | | Tenant Specific TILC Reserve |
4 | Silver Spring Plaza | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
5 | Showcase II | WFB | | 0 | 0 | | | Rent Concession Reserve | 1,116,622 | 0 | 0 | Cash | | |
6 | 350 East 52nd Street | Barclays | | 0 | 0 | | | J-51 Litigation Reserve | 700,000 | 0 | 0 | Cash | | Ground Rent Reserve |
7 | Constitution Plaza | BSP | | 0 | 0 | | | Landlord Obligations Reserve ($2,528,403); Free Rent Reserve ($1,299,538.62) | 3,827,942 | 0 | 0 | Cash | | Hartford BID Reserve |
8 | Somerset Financial Center | RMF | | 0 | 0 | | | Cash Collateral Funds | 0 | Springing | 0 | | | |
9 | Moffett Towers II - Building 1 | Barclays | | 0 | 0 | | | Upfront TI/LC Funds | 21,651,588 | 0 | 0 | Cash | | Rent Concession Funds |
10 | Owasso Market | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
11 | Florence Square | BSP | | 0 | 0 | | | | 0 | 0 | 0 | | | |
12 | Skyline Village | Barclays | | 0 | 0 | | | Tenant Obligation Funds | 30,000 | 0 | 0 | Cash | | |
13 | Tower Place | AREF | | 0 | 0 | | | Drum Removal Reserve | 1,250 | 0 | 0 | Cash | | |
14 | 583-593 West 215th Street | AREF | | 50,000 | 0 | | | | 0 | 0 | 0 | | | |
15 | Ardsley Town Center | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
16 | Torrance Technology Campus | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
17 | Heritage at Deerwood | Barclays | | 0 | 0 | | | | 0 | 0 | 0 | | | |
18 | Eastern Commons | BSP | | 0 | 0 | | | Unfunded Tenant Obligations | 211,199 | 0 | 0 | Cash | | Reduced Rent Reserve |
19 | Westar I & II | AREF | | 0 | 0 | | | Special Rollover Reserve | 1,500,000 | 0 | 0 | LoC | | |
20 | Proguard Self Storage-TX | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
21 | Arrowhead Professional Plaza | Barclays | | 0 | 0 | | | | 0 | 0 | 0 | | | |
22 | DoubleTree Rocky Mount | BSP | | 0 | 0 | | | PIP Reserve | 2,174,128 | 0 | 0 | Cash | | Seasonality Reserve |
23 | Conway Commons | RMF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
24 | OLHSA Building | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
25 | Medical Village At Pine Hills | WFB | | 0 | 0 | | | Springing Key Tenant Reserve | 0 | Springing | 0 | | | |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | | 0 | 0 | | | Enphase Springing Leasing Reserve | 0 | Springing | 0 | | | Rent Concession Reserve / Owners Association Reserve |
27 | Scotts Village | WFB | | 0 | 0 | | | Ground Rent Reserve | 0 | Springing | 0 | | | |
28 | 375 Bristol Street | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
29 | Forest Ridge | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
30 | ACG Conlon MHC Portfolio VI | RMF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
30.01 | Madison MHC | RMF | | | | | | | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | | | | | | |
31 | HIX Yosemite | BSP | | 0 | 0 | | | PIP Reserve | 1,830,200 | Springing | 0 | Cash | | Seasonality Reserve |
32 | 2415 Mission Street | BSP | | 0 | 0 | | | | 0 | 0 | 0 | | | |
33 | 3737 South Bentley Avenue | Barclays | | 0 | 0 | | | | 0 | 0 | 0 | | | |
34 | McDonald Industrial | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
35 | Staybridge Hotel Denver Tech | AREF | | 0 | 0 | | | Seasonality Reserve | 200,000 | 66,666; Springing | 0 | Cash | | PIP Reserve |
36 | 545 Algonquin | BSP | | 0 | 0 | | | Immediate Repair Reserve (Roof Repair) | 500,000 | 0 | 0 | Cash | | |
37 | Hilton Garden Inn Albuquerque Journal | AREF | | 0 | 0 | | | | 0 | 0 | 0 | | | |
38 | Highland Circle | BSP | | 0 | 0 | | | Radon Testing Reserve | 41,125 | 0 | 0 | Cash | | Well Reserve |
39 | 11 North Pearl Street | BSP | | 0 | 0 | | | Build Out Work Reserve | 1,000,000 | 0 | 0 | Cash | | |
40 | Albertsons Clovis | BSP | | 0 | 0 | | | | 0 | 0 | 0 | | | |
41 | Airport Mini Storage | Barclays | | 0 | 0 | | | | 0 | 0 | 0 | | | |
42 | UNICO Dollar General Portfolio II | WFB | | 62,959 | 0 | Cash | | | 0 | 0 | 0 | | | |
42.01 | Moore Haven, FL DG | WFB | | | | | | | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | | | | | | |
43 | Camelot Apartments | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
44 | Amwiler | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
45 | Williams Landing | BSP | | 0 | 0 | | | MF Convert Reserve | 25,000 | 0 | 0 | Cash | | |
46 | Pine Hills | BSP | | 0 | 0 | | | | 0 | 0 | 0 | | | |
47 | Melrose Mansion | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
48 | UNICO Dollar General Portfolio I | WFB | | 34,774 | 0 | Cash | | | 0 | 0 | 0 | | | |
48.01 | Knoxville, TN DG | WFB | | | | | | | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | | | | | | |
49 | CVS - East Hampton | WFB | | 0 | 0 | | | | 0 | 0 | 0 | | | |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Other Escrow II (Initial) ($)(8) | Other Escrow II (Monthly) ($)(8) | Other Escrow II Cap ($) | Other Escrow II Escrow - Cash or LoC | Other Escrow II - LoC Counterparty | Holdback(17) | Ownership Interest | Ground Lease Initial Expiration Date(18) | Annual Ground Rent Payment(18) | Annual Ground Rent Increases | Lockbox(19) | Whole Loan Cut-off Date Balance ($) | Whole Loan Debt Service ($) |
1 | The Ballantyne | WFB | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
2 | Fair Oaks Mall | Barclays | 0 | Springing | 0 | | | | Fee | | | | Hard/Springing Cash Management | 259,189,735 | 1,446,681 |
3 | Town Center Aventura | WFB | 309,507 | 0 | 0 | Cash | | | Fee | | | | Hard/Upfront Cash Management | | |
4 | Silver Spring Plaza | WFB | 0 | 0 | 0 | | | | Fee | | | | Soft/Springing Cash Management | | |
5 | Showcase II | WFB | 0 | 0 | 0 | | | | Fee | | | | Hard/Upfront Cash Management | | |
6 | 350 East 52nd Street | Barclays | 375,000 | 0 | 0 | Cash | | | Leasehold | 6/30/2031 | $37,500 | 40,000 starting on July 1, 2031 | Soft/Springing Cash Management | | |
7 | Constitution Plaza | BSP | 41,760 | 3,797; Springing | 0 | Cash | | | Fee | | | | Hard/Springing Cash Management | | |
8 | Somerset Financial Center | RMF | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
9 | Moffett Towers II - Building 1 | Barclays | 5,064,484 | 0 | 0 | Cash | | | Fee | | | | Hard/Upfront Cash Management | | |
10 | Owasso Market | AREF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
11 | Florence Square | BSP | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
12 | Skyline Village | Barclays | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
13 | Tower Place | AREF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
14 | 583-593 West 215th Street | AREF | 0 | 0 | 0 | | | 2,000,000 | Fee | | | | Springing | | |
15 | Ardsley Town Center | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
16 | Torrance Technology Campus | AREF | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
17 | Heritage at Deerwood | Barclays | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
18 | Eastern Commons | BSP | 17,220 | 0 | 0 | Cash | | | Fee | | | | Springing | | |
19 | Westar I & II | AREF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
20 | Proguard Self Storage-TX | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
21 | Arrowhead Professional Plaza | Barclays | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
22 | DoubleTree Rocky Mount | BSP | 37,500 | 0 | 75,000 | | | | Fee | | | | Hard/Springing Cash Management | | |
23 | Conway Commons | RMF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
24 | OLHSA Building | AREF | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
25 | Medical Village At Pine Hills | WFB | 0 | 0 | 0 | | | | Fee | | | | None | | |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | Rent Concession - $78,168 | Springing | 0 | Cash | | | Fee | | | | Springing | | |
27 | Scotts Village | WFB | 0 | 0 | 0 | | | | Leasehold | 4/8/2037 | $103,200 plus Additional Rent as defined in the Ground Lease | | Springing | | |
28 | 375 Bristol Street | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
29 | Forest Ridge | AREF | 0 | 0 | 0 | | | 300,000 | Fee | | | | Springing | | |
30 | ACG Conlon MHC Portfolio VI | RMF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
30.01 | Madison MHC | RMF | | | | | | | Fee | | | | | | |
30.02 | Westwood Forest MHC | RMF | | | | | | | Fee | | | | | | |
31 | HIX Yosemite | BSP | 108,212 | 21,642; Springing | 108,212 | Cash | | | Fee | | | | Hard/Springing Cash Management | | |
32 | 2415 Mission Street | BSP | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
33 | 3737 South Bentley Avenue | Barclays | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
34 | McDonald Industrial | AREF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
35 | Staybridge Hotel Denver Tech | AREF | 1,062,703 | 0 | 0 | Cash | | | Fee | | | | Hard/Springing Cash Management | | |
36 | 545 Algonquin | BSP | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
37 | Hilton Garden Inn Albuquerque Journal | AREF | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
38 | Highland Circle | BSP | 4,375 | 0 | 0 | | | | Fee | | | | None | | |
39 | 11 North Pearl Street | BSP | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
40 | Albertsons Clovis | BSP | 0 | 0 | 0 | | | | Fee | | | | Hard/Springing Cash Management | | |
41 | Airport Mini Storage | Barclays | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
42 | UNICO Dollar General Portfolio II | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
42.01 | Moore Haven, FL DG | WFB | | | | | | | Fee | | | | | | |
42.02 | Okeechobee, FL DG | WFB | | | | | | | Fee | | | | | | |
42.03 | Babson Park, FL DG | WFB | | | | | | | Fee | | | | | | |
42.04 | Jay, FL DG | WFB | | | | | | | Fee | | | | | | |
43 | Camelot Apartments | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
44 | Amwiler | WFB | 0 | 0 | 0 | | | | Fee | | | | None | | |
45 | Williams Landing | BSP | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
46 | Pine Hills | BSP | 0 | 0 | 0 | | | | Fee | | | | None | | |
47 | Melrose Mansion | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
48 | UNICO Dollar General Portfolio I | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
48.01 | Knoxville, TN DG | WFB | | | | | | | Fee | | | | | | |
48.02 | Piney River, VA DG | WFB | | | | | | | Fee | | | | | | |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | Fee | | | | | | |
49 | CVS - East Hampton | WFB | 0 | 0 | 0 | | | | Fee | | | | Springing | | |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller | Subordinate Secured Debt Original Balance ($) | Subordinate Secured Debt Cut-off Date Balance ($) | Whole Loan U/W NOI DSCR (x) | Whole Loan U/W NCF DSCR (x) | Whole Loan Cut-off Date LTV Ratio | Whole Loan Cut-off Date U/W NOI Debt Yield | Whole Loan Cut-off Date U/W NCF Debt Yield | Mezzanine Debt Cut-off Date Balance($) | Sponsor | Affiliated Sponsors | Mortgage Loan Number |
1 | The Ballantyne | WFB | | | | | | | | | Northwood Investors LLC | | 1 |
2 | Fair Oaks Mall | Barclays | 85,000,000 | 84,735,106 | 1.72 | 1.64 | 47.5% | 11.5% | 11.0% | | The Taubman Realty Group Limited Partnership; Morton Olshan | | 2 |
3 | Town Center Aventura | WFB | | | | | | | | | Jacquelyn Soffer | | 3 |
4 | Silver Spring Plaza | WFB | | | | | | | | | CKN Investments Limited Partnership | | 4 |
5 | Showcase II | WFB | | | | | | | | 37,000,000 | Nakash Properties LLC; Nakash Holding LLC; Eli Gindi; Jeffrey Gindi | | 5 |
6 | 350 East 52nd Street | Barclays | | | | | | | | | William W. Koeppel | | 6 |
7 | Constitution Plaza | BSP | | | | | | | | 10,000,000 | Aaron Berger | | 7 |
8 | Somerset Financial Center | RMF | | | | | | | | | Aryeh Z. Ginzberg aka Ari Zev Ginzberg; Harvey Rosenblatt; Leibel Lederman; Azag LLC; CLL LLC; David Sutton | | 8 |
9 | Moffett Towers II - Building 1 | Barclays | | | | | | | | 112,000,000 | The Jay Paul Company | | 9 |
10 | Owasso Market | AREF | | | | | | | | | E. Stanley Kroenke | Y - Group 1 | 10 |
11 | Florence Square | BSP | | | | | | | | | Patrick Magee; Michael Puccio; Joseph Brachfeld | | 11 |
12 | Skyline Village | Barclays | | | | | | | | | Bon Investments USA LLC | | 12 |
13 | Tower Place | AREF | | | | | | | | | Richard Vincent Glickman; Robert Berger; Anthony John Passander | | 13 |
14 | 583-593 West 215th Street | AREF | | | | | | | | | Howard Sorkin; Eli Tabak; Marc Mendelsohn | | 14 |
15 | Ardsley Town Center | WFB | | | | | | | | | Joshua Goldberg | | 15 |
16 | Torrance Technology Campus | AREF | | | | | | | | | Gregory J. Orman; David L. Johnson | | 16 |
17 | Heritage at Deerwood | Barclays | | | | | | | | | Robert Leclair | | 17 |
18 | Eastern Commons | BSP | | | | | | | | | John M. Kirkorian; JMK Limited Partnership | | 18 |
19 | Westar I & II | AREF | | | | | | | | | Gold Rock Invest S.A. | | 19 |
20 | Proguard Self Storage-TX | WFB | | | | | | | | | Sam Amber; Samber, LTD. | | 20 |
21 | Arrowhead Professional Plaza | Barclays | | | | | | | | | Ted L. Barr; Joseph G. Greulich; Benjamin D. Sheridan | | 21 |
22 | DoubleTree Rocky Mount | BSP | | | | | | | | | Jose Daniel Berman, Arie Fridzon, Alex Fridzon | | 22 |
23 | Conway Commons | RMF | | | | | | | | | E. Stanley Kroenke | Y - Group 1 | 23 |
24 | OLHSA Building | AREF | | | | | | | | | Terry Winter; Andrew Freuereisen | | 24 |
25 | Medical Village At Pine Hills | WFB | | | | | | | | | Chaim Yoseph Bialostozky | | 25 |
26 | Bayside Technology Park - Buildings 36 and 37 | WFB | | | | | | | | | David B. Dollinger | | 26 |
27 | Scotts Village | WFB | | | | | | | | | John E. McNellis | | 27 |
28 | 375 Bristol Street | WFB | | | | | | | | | Chase O. Sanderson, Jr.; James W. Ray; Michael D. Ray; David Seidner; Scott Rimland | | 28 |
29 | Forest Ridge | AREF | | | | | | | | | Richard A. Chesney; Bradford R. Beaupre | | 29 |
30 | ACG Conlon MHC Portfolio VI | RMF | | | | | | | | | Michael Conlon | | 30 |
30.01 | Madison MHC | RMF | | | | | | | | | | | 30.01 |
30.02 | Westwood Forest MHC | RMF | | | | | | | | | | | 30.02 |
31 | HIX Yosemite | BSP | | | | | | | | | Vishnu Patel; Rahul Patel; Kantilal Patel | | 31 |
32 | 2415 Mission Street | BSP | | | | | | | | | Jered Thomas Kenna | | 32 |
33 | 3737 South Bentley Avenue | Barclays | | | | | | | | | Michel D. Hibbert; Myron Blackman | | 33 |
34 | McDonald Industrial | AREF | | | | | | | | | Forrest Jinks; Mark Nelson | | 34 |
35 | Staybridge Hotel Denver Tech | AREF | | | | | | | | | Gustavo Blanco; Oscar Vila | | 35 |
36 | 545 Algonquin | BSP | | | | | | | | | Adrian Haas; Michael Haas | | 36 |
37 | Hilton Garden Inn Albuquerque Journal | AREF | | | | | | | | | Aleem Kassam & Aleem M. and Tazim P. Kassam Revocable Trust | | 37 |
38 | Highland Circle | BSP | | | | | | | | | Gideon D. Levy | Y - Group 2 | 38 |
39 | 11 North Pearl Street | BSP | | | | | | | | | George Huang; Tony Huang | | 39 |
40 | Albertsons Clovis | BSP | | | | | | | | | Arnold Gumowitz | | 40 |
41 | Airport Mini Storage | Barclays | | | | | | | | | James H. Ferebee, Jr.; Hugh D. Cohen; Brian E. Boehmcke; Joel T. Flax | | 41 |
42 | UNICO Dollar General Portfolio II | WFB | | | | | | | | | Union Investment Company of Newport News, VA. | Y - Group 3 | 42 |
42.01 | Moore Haven, FL DG | WFB | | | | | | | | | | Y - Group 3 | 42.01 |
42.02 | Okeechobee, FL DG | WFB | | | | | | | | | | Y - Group 3 | 42.02 |
42.03 | Babson Park, FL DG | WFB | | | | | | | | | | Y - Group 3 | 42.03 |
42.04 | Jay, FL DG | WFB | | | | | | | | | | Y - Group 3 | 42.04 |
43 | Camelot Apartments | WFB | | | | | | | | | James H. Barrett | | 43 |
44 | Amwiler | WFB | | | | | | | | | Rose Jarboe | | 44 |
45 | Williams Landing | BSP | | | | | | | | | Wilson Eric Davis | | 45 |
46 | Pine Hills | BSP | | | | | | | | | Gideon D. Levy | Y - Group 2 | 46 |
47 | Melrose Mansion | WFB | | | | | | | | | Joseph A. Jaeger, Jr. | | 47 |
48 | UNICO Dollar General Portfolio I | WFB | | | | | | | | | Union Investment Company of Newport News, VA. | Y - Group 3 | 48 |
48.01 | Knoxville, TN DG | WFB | | | | | | | | | | Y - Group 3 | 48.01 |
48.02 | Piney River, VA DG | WFB | | | | | | | | | | Y - Group 3 | 48.02 |
48.03 | Ivanhoe, VA DG | WFB | | | | | | | | | | Y - Group 3 | 48.03 |
49 | CVS - East Hampton | WFB | | | | | | | | | Jeffrey S. Suchman; Hillary Suchman | | 49 |
See “Annex A-3: Summaries of the Fifteen Largest Mortgage Loans” in the Preliminary Prospectus for additional information on the 15 largest mortgage loans.
| (1) | “WFB” denotes Wells Fargo Bank, National Association, “Barclays” denotes Barclays Bank PLC, “BSP” denotes BSPRT CMBS Finance, LLC, “AREF” denotes Argentic Real Estate Finance LLC and “RMF” denotes Rialto Mortgage Finance, LLC. |
| (2) | For mortgage loan #6 (350 East 52nd Street), the Number of Units includes 90,507 square feet of multifamily space (137 units), 4,170 square feet of retail space, and an 80-space public parking garage. |
For mortgage loan #8 (Somerset Financial Center), the mortgaged property is 100.0% occupied. The largest tenant at the mortgaged property, Mallinckrodt, occupies 191,000 square feet. In connection with the sale of the property to the borrower, Related Real Estate Fund II, L.P., an investment fund sponsored by the Related Companies, guaranteed the obligations of RREF II Somerset ML LLC, an affiliate of the Related Companies, under a master lease with the borrower related to the currently unoccupied 39,000 square feet at a base rent of $18.00 per square foot with $0.50 per square foot annual increases. The term of the master lease will end on the earlier of (i) December 31, 2021, or (ii) the date on which a termination event has occurred. A termination event is defined as a) Mallinckrodt exercises its option to lease the premises or b) a replacement tenant leases the entire premises. If the replacement tenant only leases a portion of the space, the master lease will still apply to the remaining space.
For mortgage loan #14 (583-593 West 215th Street), the related mortgaged property has a total of 39 occupied units subject to rent stabilization and four occupied units subject to rent control (collectively representing 66.2% of total occupied units, or 50.9% of UW revenue). Certain units at such mortgaged property were previously rent-stabilized units, but such units were converted to market rent units.
For mortgage loan #32 (2415 Mission Street), the property is mixed use with retail and multifamily components. Property square footage presented on the tape represents both the commercial and residential space at the property. The Number of Units includes (i) 41 single room occupancy residential units (10,001 square feet) and 3,726 square feet of residential common area space, (ii) 21,023 square feet of retail space, and (iii) 11,502 square feet of basement space.
| (3) | For mortgage loan #2 (Fair Oaks Mall), the whole loan amortizes based on a specific amortization schedule, which is set forth in Annex A-4 of the Preliminary Prospectus. |
For mortgage loan #7 (Constitution Plaza), the whole loan amortizes based on a specific amortization schedule, which is set forth in Annex A-5 of the Preliminary Prospectus.
| (4) | For mortgage loan #38 (Highland Circle), the Grace Period Default (Days) is five business days and subject to the following conditions: (i) the grace period is used no more than once in a twelve-month period, and (ii) the grace period may not be used more than twice during the term of the mortgage loan. |
For mortgage loan #46 (Pine Hills), the Grace Period Default (Days) is five business days and subject to the following conditions: (i) the grace period is used no more than once in a twelve-month period, and (ii) the grace period may not be used more than twice during the term of the mortgage loan.
| (5) | For mortgage loan #6 (350 East 52nd Street), 19.5% of the net operating income at the mortgaged property is generated by the retail and parking garage components at the mortgaged property. |
For mortgage loan #7 (Constitution Plaza), 43.1% of the net operating income at the mortgaged property is derived from revenue from the parking garage at the mortgage property.
| (6) | For mortgage loan #1 (The Ballantyne), the Appraised Value assumes the property improvement plan scheduled for completion in June 2019, has been completed. All outstanding property improvement plan costs have been reserved for at closing. The Appraised Value assuming the property improvement plan has not been completed is $80,000,000. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the $80,000,000 appraised value are 68.8% and 63.3%, respectively. |
For mortgage loan #5 (Showcase II), the Appraised Value is a prospective market value that assumes all tenants are in occupancy, paying full unabated rent and open for business as of April 2019. All outstanding free rent, tenant improvements and leasing commissions have been reserved for at closing. The “as-is” Appraised Value is $215,000,000. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the $215,000,000 appraised value is 59.5% and 59.5%, respectively.
For mortgage loan #9 (Moffett Towers II – Building 1), the Appraised Value assumes payment of all rent concessions, tenant improvement and leasing commission (“TI/LC”) obligations. The borrower deposited upfront reserves totaling $26,716,072 for such contractual TI/LC obligations and free rent.
For mortgage loan #21 (Arrowhead Professional Plaza), the Appraised Value assumes future capital expenditures and leasing costs in the amount of $800,000. At loan closing, $800,000 was deposited into a TI/LC reserve.
For mortgage loan #22 (DoubleTree Rocky Mount), the Appraised Value represents the “when complete” value provided by the appraiser as of May 1, 2019 that assumes completion of the property improvement plan, which is expected to be completed within the earlier to occur of (i) the time frame set forth in the property improvement plan and (ii) 12 months from the Cut-off Date. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the “as-is” appraised value of $15,600,000 as of April 4, 2018, which assumes the mandated property improvement plan work is not completed, is 79.3% and 65.8%, respectively.
For mortgage loan #26 (Bayside Technology Park – Buildings 36 and 37), the Appraised Value assumes the property achieves a stabilized physical and economic occupancy in September 2018. The Appraised Value is $18,340,000. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the $18,340,000 “as-is” Appraised Value are 60.0% and 54.1%, respectively.
For mortgage loan #31 (HIX Yosemite), the “as-is” Appraised Value presented represents the “when complete” value provided by the appraiser as of May 16, 2019, which assumes completion of the property improvement plan, which is expected to be completed by February 13, 2020. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the “as-is” Appraised Value of $14,300,000 as of May 16,2018, which assumed the mandated property improvement plan work is not completed, is 67.8% and 56.4%, respectively.
For mortgage loan #35 (Staybridge Hotel Denver Tech), the Appraised Value represents the “prospective as-complete” value as of June 25, 2019 assuming the property improvement plan, which is expected to be completed by the end of 2018, has been completed. The amount of $1,062,703 was collected at closing, reflecting the remaining unfunded portion of the property improvement plan costs. The “as-is” Appraised Value assuming the property improvement plan has not been completed is $12,500,000. The Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the $12,500,000 “as-is” Appraised Value are 69.2% and 64.6%, respectively.
For mortgage loan #36 (545 Algonquin), the Appraised Value presented assumes that an additional $500,000 of mandated roof repair work is completed at the mortgaged property, which was escrowed at origination. Pursuant to the mortgage loan documents, the borrower is obligated to complete all roof repair work within 18 months of origination of the mortgage loan with the ability
to extend such period by an additional six months, subject to lender discretion, should the borrower require additional time at month 18. The Cut-Off Date LTV Ratio and LTV Ratio at Maturity or ARD based on the “as-is” Appraised Value of $11,000,000 as of May 4, 2018, which assumes the capital expenditure work is not completed, is 77.7% and 68.9%, respectively.
| (7) | For mortgage loan #2 (Fair Oaks Mall), the mortgage loan represents Notes A-2-1 and A-2-2, two of five pari passu senior notes, which have a combined Cut-off Date Balance of $174,454,629, and two pari passu subordinate B-notes which have a combined Cut-off Date Balance of $84,735,106 (the “Fair Oaks Mall Whole Loan”). Notes A-1-1, A-1-2, A-2-3, B-1 and B-2 are not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance per Unit/SF figures presented are based on Notes A-1-1, A-1-2, A-2-1, A-2-2 and A-2-3 in the aggregate, but exclude notes B-1 and B-2. Note A-1-1 represents a controlling interest in the Fair Oaks Mall Whole Loan. With respect to DSCR figures, debt service is calculated based on the allocated principal and interest payments per a specific amortization schedule. |
For mortgage loan #3 (Town Center Aventura), the mortgage loan represents Note A-2, one of two pari passu notes, which have a combined Cut-off Date Balance of $80,000,000. Note A-1 is not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance Per Unit/SF figures presented is based on Notes A-1 and A-2 in the aggregate (the “Town Center Aventura Whole Loan”). Note A-2 represents a non-controlling interest in the Town Center Aventura Whole Loan.
For mortgage loan #5 (Showcase II), the mortgage loan represents Note A-2, one of three pari passu notes, which have a combined Cut-off Date Balance of $128,000,000. Notes A-1 and A-3 are not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance Per Unit/SF figures presented are based on Notes A-1, A-2 and A-3 in the aggregate (the “Showcase II Whole Loan”). Note A-2 represents a non-controlling interest in the Showcase II Whole Loan.
For mortgage loan #7 (Constitution Plaza), the mortgage loan represents Notes A-2 and A-3, two of three pari passu notes, which have a combined Cut-off Date Balance of $54,852,426. Note A-1 is not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance Per Unit/SF figures presented are based on the Notes A-1, A-2 and A-3 in the aggregate (the “Constitution Plaza Whole Loan”). Notes A-2 and A-3 represent a non-controlling interest in the Constitution Plaza Whole Loan.
For mortgage loan #8 (Somerset Financial Center), the mortgage loan represents Note A-1, one of two pari passu notes, which have a combined Cut-off Date Balance of $42,000,000. Note A-2 is not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance Per Unit/SF figures presented are based on Notes A-1 and A-2 in the aggregate (the “Somerset Financial Center Whole Loan”). Note A-1 represents the controlling interest in the Somerset Financial Center Whole Loan.
For mortgage loan #9 (Moffett Towers II – Building 1), the mortgage loan represents Note A-5, one of five pari passu notes, which have a combined Cut-off Date Balance of $168,000,000. Notes A-1, A-2, A-3 and A-4 are not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance per Unit/SF figures presented are based on Notes A-1, A-2, A-3, A-4 and A-5 in the aggregate (the “Moffett Towers II – Building 1 Whole Loan”). Note A-1 represents a controlling interest in the Moffett Towers II – Building 1 Whole Loan.
For mortgage loan #12 (Skyline Village), the mortgage loan represents Note A-1, one of two pari passu notes, which have a combined Cut-off Date Balance of $24,800,000. Note A-2 is not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance per Unit/SF figures presented are based on Notes A-1 and A-2 in the aggregate (the “Skyline Village Whole Loan”). Note A-1 represents a controlling interest in the Skyline Village Whole Loan.
For mortgage loan #16 (Torrance Technology Campus), the mortgage loan represents Note A-3, one of six pari passu notes, which have a combined Cut-off Date Balance of $93,750,000. Notes A-1, A-2, A-4, A-5, and A-6 are not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance per Unit/SF figures presented are based on Notes A-1, A-2, A-3, A-4, A-5, and A-6 in the aggregate (the “Torrance Technology Campus Whole Loan”). Note A-3 represents a non-controlling interest in the Torrance Technology Campus Whole Loan.
For mortgage loan #23 (Conway Commons), the mortgage loan represents Note A-3, one of three pari passu notes, which have a combined Cut-off Date Balance of $47,250,000. Note A-1 and note A-2 are not included in the trust. All LTV, DSCR, Debt Yield and Cut-off Date Balance Per Unit/SF figures presented are based on Notes A-1, A-2, and A-3 in the aggregate (the “Conway Commons Whole Loan”). Note A-3 represents a non-controlling interest in the Conway Commons Whole Loan.
| (8) | In certain cases, mortgage loans may have tenants that have executed leases, but may not be fully paying rent or occupying the related leased premises that were included in the underwriting. |
For mortgage loan #2 (Fair Oaks Mall), $1,183,388 was deposited into a gap rent reserve at closing, related to 12 tenants through September 30, 2019.
For mortgage loan #4 (Silver Spring Plaza), the second largest tenant (22,376 square feet), representing 9.2% of net rentable square feet, has free rent in December 2018, December 2019, November 2020 and December 2020.
For mortgage loan #5 (Showcase II), the largest tenant (10,960 square feet), representing 26.5% of net rentable square feet, has executed a lease and is paying rent but is not expected to open for business until November 2018. The fourth largest tenant (5,669 square feet), representing 13.7% of net rentable square feet, has executed a lease but is not open for business or paying rent. The fourth largest tenant is anticipated to open for business and begin paying rent in October 2018. The fifth largest tenant (3,923 square feet), representing 9.5% of net rentable square feet, has executed a lease but is not open for business or paying rent. The fifth largest tenant is anticipated to open for business and begin paying rent in October 2018. All outstanding free rent, tenant improvements and leasing commissions were reserved for at closing.
For mortgage loan #9 (Moffett Towers II – Building 1), the largest tenant (350,633 square feet), representing 100% of the net rentable square feet, has executed a lease that commenced on June 1, 2018. The largest tenant will begin paying rent on December 1, 2018 after a six-month abatement period. At loan closing, $5,064,484 was deposited into the rent concession reserve account, representing the outstanding rent abatement due to the largest tenant.
For mortgage loan #26 (Bayside Technology Park – Buildings 36 and 37), the second largest tenant (23,436 square feet), representing 27.2% of net rentable square feet, has executed a lease but does not commence paying rent until September 2018. The gap rent was reserved for at closing.
| (9) | The tenant early termination options discussed in this footnote are not intended to be an exclusive list. In particular, termination options based on co-tenancy clauses are generally included only for top five tenants by net rentable square feet if the option is currently or imminently exercisable. |
For mortgage loan #2 (Fair Oaks Mall), the third largest tenant, (20,265 square feet), representing 2.6% of net rentable square feet, has a termination option if it fails to achieve gross sales of at least $6,000,000 for the period March 28, 2021 to March 29, 2022, effective as of March 29, 2023.
For mortgage loan #4 (Silver Spring Plaza), the largest tenant (89,272 square feet), representing 36.8% of net rentable square feet, may terminate its lease on August 31, 2020 for its entire space or up to 50% of its space upon providing written notice by August 31, 2019 and payment of all unamortized tenant improvements and leasing commissions. The third largest tenant (22,255 square feet), representing 9.2% of net rentable square feet, may terminate its lease as of September 30, 2021 upon providing nine months’ written notice and payment of a termination fee equal to two months base rent and all unamortized tenant improvements and leasing commissions. The fourth largest tenant (15,694 square feet), representing 6.5% of net rentable square feet, may terminate its lease as of June 30, 2022 upon providing nine months’ written notice and payment of a termination fee equal to three months base rent and all unamortized tenant improvements and leasing commissions.
For mortgage loan #7 (Constitution Plaza) the second largest tenant (110,145 square feet), representing 16.7% of net rentable square feet, has an option to terminate its lease on one full floor of the mortgaged property (10,977 square feet), representing 1.7% of net rentable area. The fourth largest tenant (47,954 square feet), representing 7.3% of net rentable square feet has the right to terminate its lease, effective on the last business day of any month after February 28, 2023, provided that, among other conditions: (i) the tenant gives notice to the landlord at least 12 months prior to the termination date; (ii) the tenant has elected to relocate to a property owned by it; and (iii) the tenant actually relocates to such other tenant-owned property. The fifth largest tenant (30,144 square feet), representing 4.6% of net rentable area, has the right to terminate its lease after the three-year anniversary of its lease term in the event that space becomes available in a State of Connecticut owned facility and the tenant moves into such State of Connecticut owned facility. The State of Connecticut Department of Banking must provide notice of its intent to exercise such termination options at least 180 days in advance of the termination date.
For mortgage loan #8 (Somerset Financial Center), to the extent the master lease has terminated and the entirety of the master leased premises is not leased to Mallinckrodt, the borrower may be required to deposit with the lender on each payment date commencing on January 6, 2022, an amount equal to the cash collateral fixed deposit (which amount may be reduced by the adjustment factor, as set forth in the loan documents), which will be held as additional security for the Mortgage Loan. In the event that the borrower has entered into one or more qualified replacement leases for all or a portion of the master leased premises, and pursuant to certain conditions set forth in the loan documents, the borrower may not be required to make the monthly cash collateral fixed deposit.
For mortgage loan #12 (Skyline Village), the third largest tenant, (4,300 square feet), representing 2.3% of net rentable square feet, has a termination option which provides that if the tenant’s powers are limited so as to not permit its continued use of the premises at the mortgaged property, or if the Commonwealth of Virginia fails to appropriate the necessary funding for the tenant, then the tenant may terminate its lease upon reasonable notice to the landlord. Additionally, if the tenant’s powers are limited or curtailed, so that the tenant determines in its sole discretion that its continued use of its premises is no longer authorized or justified, then the tenant may terminate its lease upon 3 months’ notice to the landlord.
For mortgage loan #19 (Westar I & II), the largest tenant (84,575 square feet), representing 50.7% of net rentable square feet, may terminate its lease on June 30, 2019, provided the tenant gives notice on or before December 31, 2018 and delivers a termination fee of $180,824. The third largest tenant (40,141 square feet), representing 24.1% of net rentable square feet, may terminate its lease on January 31, 2019 by giving 180 days prior written notice and delivering a termination fee of $50,000.
For mortgage loan #24 (OLHSA Building), the second largest tenant (77,414 square feet), representing 42.0% of net rentable square feet, is a private non - profit agency that delivers human services and receives government funding. Pursuant to the related lease, if such tenant experiences a reduction in governmental funding used to pay for or defray the cost of rent for its leased space at the related mortgaged property, such tenant may elect to amend the related lease so as to reduce the size of such space proportionately consistent with such loss of funding.
For mortgage loan #34 (McDonald Industrial), the fifth largest tenant (4,980 square feet) representing 5.3% of net rentable square feet, may terminate its lease any time after the 24th month of occupancy if the tenant experiences a 20% or greater reduction per annum in funding by giving 90 days prior written notice.
For mortgage loan #39 (11 North Pearl Street), the third largest tenant (6,235 square feet), representing 6.8% of net rentable square feet, has the option, at any time, to contract its leased space with 60 days’ prior written notice.
| (10) | For mortgage loan #4 (Silver Springs Plaza), the largest tenant (89,272 square feet), representing 36.8% of net rentable square feet, has subleased 9,186 square feet of its space for an annual base rent of $286,327 ($31.17 per square foot, expiring December 31, 2018). |
For mortgage loan #27 (Scotts Village), the largest, second largest, fourth largest and fifth largest tenants (66,998 square feet in total), representing 55.2% of net rentable square feet, lease their collateral pad sites and the improvements built on the pad sites are owned by the tenants.
| (11) | For mortgage loan #1 (The Ballantyne), the Monthly Replacement Reserve will adjust to 4.0% of the total revenue from the mortgaged property. |
| (12) | For mortgage loan #14 (583-593 West 215th Street), the capital reserve cap will be $200,000 prior to the unit improvement reserve release satisfaction event and $100,000 subsequent to the unit improvement reserve release satisfaction event. |
| (13) | For mortgage loan #9 (Moffett Towers II – Building 1), TI/LC underwriting is inclusive of a credit of $613,608, equal to 1/20th of the Lease Sweep Deposit Amount of $12,272,155 ($35.00 per square foot). |
For mortgage loan #12 (Skyline Village), TI/LC underwriting is inclusive of a straight-line credit for the upfront TI/LC reserve equal to $34,125, which is 10.0% of the upfront TI/LC reserve of $341,250. At loan closing, $341,250 was deposited into a tenant improvement and leasing commission reserve account for future re-tenanting expenses.
For mortgage loan #21 (Arrowhead Professional Plaza), TI/LC underwriting is inclusive of a straight-line credit for the upfront TI/LC reserve equal to $80,000, which is 10.0% of the upfront TI/LC reserve of $800,000. At loan closing, $800,000 was deposited into a tenant improvement and leasing commission reserve account for future re-tenanting expenses.
| (14) | For mortgage loan #11 (Florence Square), with respect to the TI/LC Reserve, in the event the balance in the reserve falls below $350,000, ongoing TI/LC reserve collections of $9,138 will commence, subject to a $450,000 cap. The cap is exclusive of any funds reserved through a “Cash Flow Sweep Event” or a “Major Tenant Sweep Event” as defined in the Florence Square mortgage loan documents. |
| (15) | For mortgage loan #7 (Constitution Plaza), Monthly Debt Service and Annual Debt Service is based on the sum of the first 12 principal and interest payments of the mortgage loan based on the schedule set forth on Annex A-5 to this Preliminary Prospectus. UW NOI DSCR and UW NCF DSCR were calculated based on the sum of the first 12 principal and interest payments after the Cut-off Date of the mortgage loan. |
| (16) | For mortgage loan #2 (Fair Oaks Mall), during the continuance of a cash management trigger event period, as defined in the loan agreement, borrower will deposit: (i) one-twelfth of the taxes that the lender reasonably estimates will be payable during the next ensuing 12 calendar months into a real estate tax reserve, (ii) one-twelfth of the insurance premiums into an insurance reserve, so long as the insurance policy does not constitute an acceptable blanket policy, (iii) $12,077 into a replacement reserve, capped at $434,772 and (iv) $113,743 into a TI/LC reserve, capped at $4,094,748 (inclusive of ring road and lease termination deposits). Upon the sale of the ring road parcel, borrower must deliver 100% of all net sales proceeds received for the sale of the ring road outparcel into the TI/LC reserve fund. Upon the occurrence of an owned anchor trigger, as defined in the loan agreement, all excess cash flows from the cash management account will be disbursed to the owned anchor reserve account up until $2,150,000. At borrower’s option, borrower may deposit a letter of credit or cash in the amount of $2,150,000 in lieu of monthly deposits. Provided no event of default shall have occurred and be continuing, borrower may demolish, redevelop, re-tenant and/or reposition the owned anchor space, as defined in the loan agreement, and will make an owned anchor termination reserve fund deposit, as defined in the loan agreement. On each payment date during the occurrence of an anchor tenant event with respect to the owned anchor space (as described in the loan documents) payment to lender for deposit into the owned anchor |
termination reserve fund an amount equal to the product of $91,667 multiplied by the number of months remaining from the date of the termination of the Macy’s lease in connection with an owned anchor termination through February 1, 2026.
For mortgage loan #9 (Moffett Towers II – Building 1), for a description of escrows, see Annex A-3 to this Preliminary Prospectus.
For mortgage loan #22 (DoubleTree Rocky Mount), during the months of May, June, July, and August, monthly deposits equal to one-fourth of the difference between the balance in the seasonality reserve account as of April 15th of each year and $75,000 will be deposited into the seasonality reserve. Deposits into the reserve will be capped at $75,000.
For mortgage loan #22 (DoubleTree Rocky Mount), on each monthly payment date commencing on July 6, 2019, the Monthly Replacement Reserve will be adjusted based upon annual operating statements for the mortgaged property and will be modified to be equal to the greater of the (i) gross revenues for the property in the preceding calendar year or (ii) the projected gross revenues for the mortgaged property for the current calendar year.
For mortgage loan #31 (HIX Yosemite) the Monthly Replacement Reserve will be adjusted based upon annual operating statements for the mortgaged property and will be modified to be equal to the greater of the (i) gross revenues for the mortgaged property in the preceding calendar year or (ii) the projected gross revenues for the mortgaged property for the current calendar year.
For mortgage loan #31 (HIX Yosemite), during the months of May, June, July, August and September, monthly deposits of $21,642 will be deposited into the seasonality reserve. Deposits into the reserve will be capped at $108,212.
For mortgage loan #33 (3737 South Bentley Avenue), unless a trigger event, as defined in the loan agreement, occurs beforehand, beginning two years after the closing date (per loan agreement), borrower will make monthly deposits of $521 into the replacement reserve account.
For mortgage loan #35 (Staybridge Hotel Denver Tech), the Monthly Replacement Reserve is 5% of the annual operating income of the mortgaged property starting on September 6, 2020.
For mortgage loan #35 (Staybridge Hotel Denver Tech), the Monthly Seasonality Reserve is to be paid to the lender on the payment date in July, August, and September, commencing on the payment date in July 2019. No monthly payment should be required when the balance is equal to or greater than $200,000.
| (17) | For mortgage loan #14 (583-593 West 215th Street), all LTVs, DSCRs, and Debt Yields are calculated assuming the loan amount less a $2,000,000 holdback. The holdback can be disbursed in whole or in part provided that the following conditions are satisfied: (i) the mortgaged property is not in cash management, (ii) minimum draw requests of $250,000, (iii) the date is October 6, 2018 or later, (iv) based upon the trailing three months income (annualized) and 12 months expenses of the mortgaged property, as reasonably determined by lender, achieving a DSCR and DY of 1.20x and 7.0%, respectively. If the holdback has not been released prior to June 6, 2021, the lender will apply the unreleased proceeds to pay down the loan as a partial defeasance of the loan, accompanied by the applicable yield maintenance premium to be paid by the borrower. Assuming the full holdback balance is not applied to the full loan amount of $14,000,000, the Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, U/W NOI DSCR, U/W NCF DSCR, U/W NOI Debt Yield and U/W NCF Debt Yield are 60.3%, 60.3%, 1.06x, 1.06x, 5.8%, and 5.8%, respectively. |
For mortgage loan #29 (Forest Ridge), all LTVs, DSCRs, and Debt Yields are calculated assuming the loan amount less a $300,000 holdback. The holdback can be disbursed in whole or in part on a one time basis upon achieving an $840,000 NOI on or prior to the date that is 12 months from the closing date. During the first six months of the loan term, the NOI test will be based on trailing six month revenues annualized less the greater of trailing 12 months actual expenses (inclusive of replacement reserves) or $830,523. Thereafter, the NOI test will be based on the trailing 12 month
revenues less the greater of the trailing 12 month actual expenses (inclusive of replacement reserves) or $830,523. Assuming the full holdback balance is not applied to the full loan amount of $10,500,000, the Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, U/W NOI DSCR, U/W NCF DSCR, U/W NOI Debt Yield and U/W NCF Debt Yield are 72.4%, 64.4%, 1.33x, 1.27x, 8.8%, and 8.4%, respectively.
| (18) | For mortgage loan #6 (350 East 52nd Street), the property is subject to a ground lease with 939 First Avenue LLC that initially expires on June 30, 2031, with an automatic 24-year extension through June 30, 2055. The annual rent is currently $37,500 through June 30, 2031 and increases to $40,000 as of July 1, 2031. At closing, $375,000 was deposited into a ground rent reserve to cover all ground lease payments due over the course of the loan term. |
For mortgage loan #10 (Owasso Market), the largest tenant (191,940 square feet), representing 54.6% of net rentable square feet, is subject to a ground lease with a ground lease expiration in September 2021. The lease is guaranteed by Lowe’s Companies, Inc.
| (19) | For mortgage loan #6 (350 East 52nd Street), the borrower was required at origination to deliver letters to commercial tenants at the 350 East 52nd Street Property directing them to pay all rents directly into a lender-controlled lockbox account. All funds received by the borrower or manager are required to be deposited in the lockbox account within two business days following receipt. |
For mortgage loan #7 (Constitution Plaza), the mortgage loan is in a cash flow sweep as of the Cut-off Date and all excess cash flow will be collected until (i) an additional $750,000 has been deposited into the landlord obligations account and (ii) $325,000 has been paid to MSCO Real Estate Advisors LLC. As of the Cut-off Date, the condition in the preceding clause (ii) has been satisfied.
For mortgage loan #32 (2415 Mission Street), the mortgaged property is mixed use with multifamily and retail components. At origination, a hard lockbox was established for retail tenants and a soft lockbox was established for multifamily tenants.