FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-257991-11 |
WFCM 2024-5C1 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. 333-257991) 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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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.
This free writing prospectus has been prepared by the underwriters for information purposes only and does not constitute, in whole or in part, a prospectus for the purposes of (i) Regulation (EU) 2017/1129 (as amended), (ii) such Regulation as it forms part of UK domestic law, or (iii) Part VI of the UK Financial Services and Markets Act 2000, as amended; and does not constitute an offering document for any other purpose.
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, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., UBS Securities LLC, Academy Securities, Inc., Drexel Hamilton, LLC, Siebert Williams Shank & Co., LLC 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.
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | % of Initial Pool Balance | % of Loan Balance | Mortgage Loan Originator | Mortgage Loan Seller | Related Group | Crossed Group | Address | City | County | State | Zip Code |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 9.97% | 100.0% | WFB, AREF2 | WFB, AREF2 | NAP | NAP | 9950 Woodloch Forest Drive | The Woodlands | Montgomery | TX | 77380 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 8.8% | WFB | WFB | NAP | NAP | Various | Houston | Harris | TX | Various | ||
2.01 | Property | 1 | Miami Gardens Apartments | 4.2% | 47.3% | 9540 Kempwood Drive | Houston | Harris | TX | 77080 | |||||
2.02 | Property | 1 | Falls Of Braeburn | 2.5% | 28.3% | 9707 Braeburn Glen Boulevard | Houston | Harris | TX | 77074 | |||||
2.03 | Property | 1 | Chelsea Lane Apartments | 2.2% | 24.4% | 8039 Boone Road | Houston | Harris | TX | 77072 | |||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 6.9% | 100.0% | GSBI | GSMC | NAP | NAP | 640 5th Avenue | New York | New York | NY | 10022 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 6.8% | CREFI | CREFI | NAP | NAP | Various | East Orange | Essex | NJ | 07018 | |
4.01 | Property | 1 | Lotus 315 | 4.0% | 59.1% | 315 South Harrison Street | East Orange | Essex | NJ | 07018 | |||||
4.02 | Property | 1 | Essence 144 | 2.8% | 40.9% | 144 South Harrison Street | East Orange | Essex | NJ | 07018 | |||||
5.00 | Loan | 1 | The Archive Apartments | 6.5% | 100.0% | AREF2 | AREF2 | NAP | NAP | 110 North 1st Street | Minneapolis | Hennepin | MN | 55401 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 6.2% | 100.0% | AREF2 | AREF2 | NAP | NAP | 3060 West Olympic Boulevard | Los Angeles | Los Angeles | CA | 90006 |
7.00 | Loan | 8 | ExchangeRight 67 | 4.6% | WFB | WFB | NAP | NAP | Various | Various | Various | Various | Various | ||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | 2.1% | 46.6% | 134 Superior Drive | Moselle | Jones | MS | 39459 | |||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | 0.8% | 16.9% | 1010 North Rochester Street | Mukwonago | Waukesha | WI | 53149 | |||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | 0.5% | 10.3% | 5213 Godfrey Road | Godfrey | Madison | IL | 62035 | |||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | 0.4% | 8.5% | 1810 Dorset Lane | New Richmond | St. Croix | WI | 54017 | |||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | 0.3% | 7.3% | 2490 Locust Street South | Canal Fulton | Stark | OH | 44614 | |||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | 0.2% | 5.3% | 1080 South Elmhurst Road | Mount Prospect | Cook | IL | 60056 | |||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | 0.1% | 2.6% | 6111 South Main Street | Roswell | Chaves | NM | 88203 | |||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | 0.1% | 2.5% | 11390 Canal Road | Gulfport | Harrison | MS | 39503 | |||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 4.4% | 100.0% | CREFI, AREF2 | CREFI, AREF2 | NAP | NAP | 132 West 36th Street | New York | New York | NY | 10018 |
9.00 | Loan | 1 | Solon Park Apartments | 3.8% | 100.0% | AREF2 | AREF2 | NAP | NAP | 34600 Park East Drive | Solon | Cuyahoga | OH | 44139 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 3.7% | 100.0% | LMF | LMF | NAP | NAP | 28 Day Hill Road | Windsor | Hartford | CT | 06095 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 3.4% | 100.0% | WFB | WFB | NAP | NAP | 209 10th Avenue South | Nashville | Davidson | TN | 37203 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 3.2% | 100.0% | WFB | WFB | NAP | NAP | 260 North Shore Drive | Pittsburgh | Allegheny | PA | 15212 |
13.00 | Loan | 1 | 324 West 125th Street | 3.1% | 100.0% | WFB | WFB | NAP | NAP | 324 West 125th Street | New York | New York | NY | 10027 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 3.1% | 100.0% | BSPRT | BSPRT | NAP | NAP | 19100 Parthenia Street | Northridge | Los Angeles | CA | 91324 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 3.0% | 100.0% | LMF | LMF | NAP | NAP | 57-63 Orchard Street | New York | New York | NY | 10002 |
16.00 | Loan | 1 | Escarlata 31 | 2.0% | 100.0% | CREFI | CREFI | Group 1 | NAP | 16625 North 31st Street | Phoenix | Maricopa | AZ | 85032 | |
17.00 | Loan | 1 | Dadeland West Office Park | 1.9% | 100.0% | WFB | WFB | NAP | NAP | 10625, 10661 and 10691 Southwest 88th Street | Miami | Miami-Dade | FL | 33145 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 1.9% | UBS AG | UBS AG | NAP | NAP | Various | Various | Various | Various | Various | |
18.01 | Property | 1 | Henderson MHP | 0.4% | 19% | 950 Old U.S. Highway 27 | South Bay | Palm Beach | FL | 33430 | |||||
18.02 | Property | 1 | Whispering Pines Estates | 0.4% | 19% | 47 Washington Street | Auburn | Worcester | MA | 01501 | |||||
18.03 | Property | 1 | Monson MHC | 0.4% | 19% | 268 Palmer Road | Monson | Hampden | MA | 01057 | |||||
18.04 | Property | 1 | Everglades MHP | 0.3% | 14% | 500 South Francisco Street | Clewiston | Hendry | FL | 33440 | |||||
18.05 | Property | 1 | Royal Palm MHP | 0.2% | 13% | 700 East Ventura Avenue | Clewiston | Hendry | FL | 33440 | |||||
18.06 | Property | 1 | American MHP | 0.2% | 11% | 751 Washington Street | Auburn | Worcester | MA | 01501 | |||||
18.07 | Property | 1 | NallCourt MHP | 0.1% | 5% | 1002 and 1009 Nalls Court | Clewiston | Hendry | FL | 33440 | |||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 1.8% | 100.0% | LMF | LMF | NAP | NAP | 27181 Euclid Avenue | Euclid | Cuyahoga | OH | 44132 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 1.8% | 100.0% | UBS AG | UBS AG | NAP | NAP | 3216 - 3232 South Boulevard | Charlotte | Mecklenburg | NC | 28209 |
21.00 | Loan | 1 | Escarlata 29 | 1.6% | 100.0% | CREFI | CREFI | Group 1 | NAP | 15417 North 29th Street | Phoenix | Maricopa | AZ | 85032 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 1.5% | 100.0% | GSBI | GSMC | NAP | NAP | 7570 Woodspoint Drive | Florence | Boone | KY | 41042 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 1.5% | 100.0% | BSPRT | BSPRT | NAP | NAP | 1819 Southwest Railroad Avenue | Hammond | Tangipahoa Parish | LA | 70403 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 1.4% | 100.0% | CREFI | CREFI | NAP | NAP | 817-819 9th Avenue | New York | New York | NY | 10019 |
25.00 | Loan | 55 | 1 | Concord Hills | 1.3% | 100.0% | AREF2 | AREF2 | NAP | NAP | 105-111 Sherbrooke Avenue | Hartford | Hartford | CT | 06106 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 1.2% | 100.0% | UBS AG | UBS AG | NAP | NAP | 5621, 5631, and 5635 East La Palma Avenue | Anaheim | Orange | CA | 92807 |
27.00 | Loan | 1 | Mitchell Lofts | 1.0% | 100.0% | BSPRT | BSPRT | NAP | NAP | 3800 Commerce Street | Dallas | Dallas | TX | 75226 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 0.8% | 100.0% | UBS AG | UBS AG | NAP | NAP | 200 Jackson Street, 220 Jackson Street & 601 Front Street | San Francisco | San Francisco | CA | 94111 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 0.8% | 100.0% | AREF2 | AREF2 | NAP | NAP | 400 and 420 Technology Parkway | Peachtree Corners | Gwinnett | GA | 30092 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 0.7% | 100.0% | LMF | LMF | NAP | NAP | 7612 Baca Lane | Santa Fe | Santa Fe | NM | 87507 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 0.7% | 100.0% | AREF2 | AREF2 | NAP | NAP | 107 North Haggerty Road | Plymouth | Wayne | MI | 48170 |
32.00 | Loan | 1 | 605 East 16th Street | 0.4% | 100.0% | CREFI | CREFI | NAP | NAP | 605 East 16th Street | Brooklyn | Kings | NY | 11226 |
A-1-1 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | General Property Type | Detailed Property Type | Year Built | Year Renovated | Number of Units | Unit of Measure | Loan Per Unit ($) | Original Balance ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | Office | Suburban | 2014 | NAP | 601,151 | SF | 216.25 | 73,000,000 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | Multifamily | Garden | Various | Various | 942 | Units | 68,471.34 | 64,500,000 | |
2.01 | Property | 1 | Miami Gardens Apartments | Multifamily | Garden | 1970 | 2011 | 442 | Units | 30,535,036 | ||
2.02 | Property | 1 | Falls Of Braeburn | Multifamily | Garden | 1977 | 2018 | 292 | Units | 18,226,279 | ||
2.03 | Property | 1 | Chelsea Lane Apartments | Multifamily | Garden | 1974 | 2019 | 208 | Units | 15,738,685 | ||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | Mixed Use | Office/Retail | 1949 | 2003 | 314,533 | SF | 953.79 | 50,400,000 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | Multifamily | Various | Various | NAP | 336 | Units | 256,250.00 | 50,000,000 |
4.01 | Property | 1 | Lotus 315 | Multifamily | Mid Rise | 2019 | NAP | 180 | Units | 29,529,617 | ||
4.02 | Property | 1 | Essence 144 | Multifamily | High Rise | 2017 | NAP | 156 | Units | 20,470,383 | ||
5.00 | Loan | 1 | The Archive Apartments | Multifamily | Mid Rise | 2021 | NAP | 200 | Units | 239,250.00 | 47,850,000 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | Multifamily | Mid Rise | 2018 | NAP | 226 | Units | 201,327.43 | 45,500,000 |
7.00 | Loan | 8 | ExchangeRight 67 | Various | Various | Various | Various | 369,844 | SF | 90.64 | 33,522,953 | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | Industrial | Warehouse | 2022 | NAP | 217,237 | SF | 15,621,439 | ||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | Retail | Single Tenant | 1990 | 2018 | 63,303 | SF | 5,659,264 | ||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | Office | Medical | 2023 | NAP | 14,419 | SF | 3,461,037 | ||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | Retail | Single Tenant | 2023 | NAP | 26,738 | SF | 2,853,017 | ||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | Retail | Single Tenant | 2022 | NAP | 21,930 | SF | 2,432,080 | ||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | Retail | Single Tenant | 1987 | NAP | 5,717 | SF | 1,777,290 | ||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | Retail | Single Tenant | 2024 | NAP | 10,500 | SF | 865,259 | ||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | Retail | Single Tenant | 2024 | NAP | 10,000 | SF | 853,567 | ||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | Office | CBD | 1922 | 2015 | 195,054 | SF | 165.34 | 32,250,000 |
9.00 | Loan | 1 | Solon Park Apartments | Multifamily | Garden | 1964, 1967, 1972 | 2023 | 240 | Units | 116,666.67 | 28,000,000 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | Hospitality | Full Service | 2002 | 2018, 2020 | 302 | Rooms | 89,403.97 | 27,000,000 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | Office | CBD | 1910 | 2017 | 410,740 | SF | 328.68 | 25,000,000 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | Hospitality | Select Service | 2010 | 2018 | 178 | Rooms | 130,898.88 | 23,300,000 |
13.00 | Loan | 1 | 324 West 125th Street | Mixed Use | Medical Office/Retail | 2016 | NAP | 17,384 | SF | 1,323.06 | 23,000,000 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | Multifamily | Garden | 1962-1970 | NAP | 447 | Units | 72,706.94 | 22,500,000 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | Mixed Use | Office/Retail/Multifamily | 1900, 1910, 1915 | 2023 | 55,200 | SF | 398.55 | 22,000,000 |
16.00 | Loan | 1 | Escarlata 31 | Multifamily | Garden | 1985 | 2023 | 87 | Units | 172,413.79 | 15,000,000 | |
17.00 | Loan | 1 | Dadeland West Office Park | Office | CBD | 1979 | 2004 | 111,023 | SF | 127.00 | 14,100,000 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | Manufactured Housing | Various | Various | NAP | 346 | Pads | 40,462.43 | 14,000,000 |
18.01 | Property | 1 | Henderson MHP | Manufactured Housing | Manufactured Housing/RV Park | 1976 | NAP | 67 | Pads | 2,717,319 | ||
18.02 | Property | 1 | Whispering Pines Estates | Manufactured Housing | Manufactured Housing | 1980 | NAP | 53 | Pads | 2,684,398 | ||
18.03 | Property | 1 | Monson MHC | Manufactured Housing | Manufactured Housing | 1986 | NAP | 61 | Pads | 2,652,426 | ||
18.04 | Property | 1 | Everglades MHP | Manufactured Housing | Manufactured Housing | 1984 | NAP | 55 | Pads | 1,926,623 | ||
18.05 | Property | 1 | Royal Palm MHP | Manufactured Housing | Manufactured Housing | 1955 | NAP | 51 | Pads | 1,802,239 | ||
18.06 | Property | 1 | American MHP | Manufactured Housing | Manufactured Housing/RV Park | 1950 | NAP | 40 | Pads | 1,477,277 | ||
18.07 | Property | 1 | NallCourt MHP | Manufactured Housing | Manufactured Housing | 1984 | NAP | 19 | Pads | 739,718 | ||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | Multifamily | Garden | 1968 | 2022 | 738 | Units | 71,815.72 | 13,000,000 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | Retail | Anchored | 1945, 2023 | 2023 | 44,026 | SF | 295.28 | 13,000,000 |
21.00 | Loan | 1 | Escarlata 29 | Multifamily | Garden | 1984 | 2023 | 80 | Units | 150,000.00 | 12,000,000 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | Hospitality | Extended Stay | 2017 | NAP | 109 | Rooms | 103,211.01 | 11,250,000 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | Hospitality | Full Service | 2010 | 2018 | 97 | Rooms | 111,787.70 | 10,850,000 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | Mixed Use | Multifamily/Retail | 1910 | 2023 | 12 | Units | 833,333.33 | 10,000,000 |
25.00 | Loan | 55 | 1 | Concord Hills | Multifamily | Mid Rise | 1971 | 2022 | 128 | Units | 73,828.13 | 9,450,000 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | Retail | Anchored | 1978, 2017 | 2024 | 59,082 | SF | 152.33 | 9,000,000 |
27.00 | Loan | 1 | Mitchell Lofts | Multifamily | Mid Rise | 1928 | 2019-2023 | 79 | Units | 91,139.24 | 7,200,000 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | Mixed Use | Office/Retail | 1913 | 2015 | 21,957 | SF | 282.37 | 6,200,000 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Office | Suburban | 1999 | NAP | 67,006 | SF | 83.57 | 5,600,000 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | Self Storage | Self Storage | 2002 | 2007 | 50,850 | SF | 102.26 | 5,200,000 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | Multifamily | Garden | 1979 | NAP | 70 | Units | 71,428.57 | 5,000,000 |
32.00 | Loan | 1 | 605 East 16th Street | Multifamily | Mid Rise | 1931 | NAP | 34 | Units | 94,117.65 | 3,200,000 |
A-1-2 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Cut-off Date Balance ($) | Maturity/ARD Balance ($) | Interest Rate % | Administrative Fee Rate % | Net Mortgage Rate % | Monthly Debt Service (P&I) ($) | Monthly Debt Service (IO) ($) | Annual Debt Service (P&I) ($) | Annual Debt Service (IO) ($) | Amortization Type |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 73,000,000 | 69,290,864 | 7.07500% | 0.04998% | 7.02502% | 489,353.36 | NAP | 5,872,240.32 | NAP | Amortizing Balloon |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 64,500,000 | 64,500,000 | 6.94400% | 0.03998% | 6.90402% | NAP | 378,423.89 | NAP | 4,541,086.68 | Interest Only | |
2.01 | Property | 1 | Miami Gardens Apartments | 30,535,036 | 30,535,036 | |||||||||
2.02 | Property | 1 | Falls Of Braeburn | 18,226,279 | 18,226,279 | |||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | 15,738,685 | 15,738,685 | |||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 50,400,000 | 46,063,500 | 6.1293333% | 0.01998% | 6.1093533% | 332,422.81 | NAP | 3,989,073.72 | NAP | Amortizing Balloon |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 50,000,000 | 50,000,000 | 6.42000% | 0.01998% | 6.40002% | NAP | 271,215.28 | NAP | 3,254,583.36 | Interest Only |
4.01 | Property | 1 | Lotus 315 | 29,529,617 | 29,529,617 | |||||||||
4.02 | Property | 1 | Essence 144 | 20,470,383 | 20,470,383 | |||||||||
5.00 | Loan | 1 | The Archive Apartments | 47,850,000 | 47,850,000 | 6.92000% | 0.01998% | 6.90002% | NAP | 279,767.43 | NAP | 3,357,209.16 | Interest Only | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 45,500,000 | 45,500,000 | 6.49000% | 0.01998% | 6.47002% | NAP | 249,496.93 | NAP | 2,993,963.16 | Interest Only |
7.00 | Loan | 8 | ExchangeRight 67 | 33,522,953 | 33,522,953 | 6.45000% | 0.01998% | 6.43002% | NAP | 182,688.45 | NAP | 2,192,261.40 | Interest Only | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | 15,621,439 | 15,621,439 | |||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | 5,659,264 | 5,659,264 | |||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | 3,461,037 | 3,461,037 | |||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | 2,853,017 | 2,853,017 | |||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | 2,432,080 | 2,432,080 | |||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | 1,777,290 | 1,777,290 | |||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | 865,259 | 865,259 | |||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | 853,567 | 853,567 | |||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 32,250,000 | 31,432,243 | 7.48000% | 0.01998% | 7.46002% | 225,055.18 | 203,817.01 | 2,700,662.16 | 2,445,804.12 | Interest Only, Amortizing Balloon |
9.00 | Loan | 1 | Solon Park Apartments | 28,000,000 | 28,000,000 | 6.67000% | 0.01998% | 6.65002% | NAP | 157,794.91 | NAP | 1,893,538.92 | Interest Only | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 27,000,000 | 27,000,000 | 7.26000% | 0.01998% | 7.24002% | NAP | 165,618.75 | NAP | 1,987,425.00 | Interest Only |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 25,000,000 | 25,000,000 | 7.15500% | 0.01998% | 7.13502% | NAP | 151,132.81 | NAP | 1,813,593.72 | Interest Only |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 23,300,000 | 23,300,000 | 7.28900% | 0.01998% | 7.26902% | NAP | 143,493.75 | NAP | 1,721,925.00 | Interest Only |
13.00 | Loan | 1 | 324 West 125th Street | 23,000,000 | 23,000,000 | 6.70500% | 0.01998% | 6.68502% | NAP | 130,297.40 | NAP | 1,563,568.80 | Interest Only | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 22,500,000 | 22,500,000 | 7.39000% | 0.01998% | 7.37002% | NAP | 140,486.98 | NAP | 1,685,843.75 | Interest Only |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 22,000,000 | 22,000,000 | 7.27000% | 0.01998% | 7.25002% | NAP | 135,134.49 | NAP | 1,621,613.88 | Interest Only |
16.00 | Loan | 1 | Escarlata 31 | 15,000,000 | 15,000,000 | 6.42000% | 0.01998% | 6.40002% | NAP | 81,364.58 | NAP | 976,374.96 | Interest Only | |
17.00 | Loan | 1 | Dadeland West Office Park | 14,100,000 | 14,100,000 | 7.00900% | 0.01998% | 6.98902% | NAP | 83,499.58 | NAP | 1,001,994.96 | Interest Only | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 14,000,000 | 14,000,000 | 7.03400% | 0.01998% | 7.01402% | NAP | 83,203.10 | NAP | 998,437.20 | Interest Only |
18.01 | Property | 1 | Henderson MHP | 2,717,319 | 2,717,319 | |||||||||
18.02 | Property | 1 | Whispering Pines Estates | 2,684,398 | 2,684,398 | |||||||||
18.03 | Property | 1 | Monson MHC | 2,652,426 | 2,652,426 | |||||||||
18.04 | Property | 1 | Everglades MHP | 1,926,623 | 1,926,623 | |||||||||
18.05 | Property | 1 | Royal Palm MHP | 1,802,239 | 1,802,239 | |||||||||
18.06 | Property | 1 | American MHP | 1,477,277 | 1,477,277 | |||||||||
18.07 | Property | 1 | NallCourt MHP | 739,718 | 739,718 | |||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 13,000,000 | 13,000,000 | 7.06000% | 0.01873% | 7.04127% | NAP | 77,545.60 | NAP | 930,547.20 | Interest Only |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 13,000,000 | 13,000,000 | 7.51900% | 0.01998% | 7.49902% | NAP | 82,587.16 | NAP | 991,045.92 | Interest Only |
21.00 | Loan | 1 | Escarlata 29 | 12,000,000 | 12,000,000 | 6.57000% | 0.01998% | 6.55002% | NAP | 66,612.50 | NAP | 799,350.00 | Interest Only | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 11,250,000 | 11,250,000 | 7.02200% | 0.01998% | 7.00202% | NAP | 66,745.57 | NAP | 800,946.84 | Interest Only |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 10,843,407 | 10,447,557 | 8.48500% | 0.01998% | 8.46502% | 83,311.80 | NAP | 999,741.58 | NAP | Amortizing Balloon |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 10,000,000 | 10,000,000 | 6.85000% | 0.01998% | 6.83002% | NAP | 57,876.16 | NAP | 694,513.92 | Interest Only |
25.00 | Loan | 55 | 1 | Concord Hills | 9,450,000 | 9,450,000 | 7.86000% | 0.01998% | 7.84002% | NAP | 62,757.19 | NAP | 753,086.28 | Interest Only |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 9,000,000 | 7,830,881 | 6.93700% | 0.01998% | 6.91702% | 69,436.97 | NAP | 833,243.64 | NAP | Amortizing Balloon |
27.00 | Loan | 1 | Mitchell Lofts | 7,200,000 | 7,200,000 | 7.44000% | 0.01998% | 7.42002% | NAP | 45,260.00 | NAP | 543,120.00 | Interest Only | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 6,200,000 | 6,200,000 | 6.25700% | 0.01998% | 6.23702% | NAP | 32,776.83 | NAP | 393,321.96 | Interest Only |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 5,600,000 | 5,600,000 | 6.86200% | 0.01998% | 6.84202% | NAP | 32,467.43 | NAP | 389,609.16 | Interest Only | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 5,200,000 | 5,200,000 | 7.68000% | 0.01998% | 7.66002% | NAP | 33,742.22 | NAP | 404,906.64 | Interest Only | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 5,000,000 | 5,000,000 | 7.27000% | 0.08748% | 7.18252% | NAP | 30,712.38 | NAP | 368,548.56 | Interest Only |
32.00 | Loan | 1 | 605 East 16th Street | 3,200,000 | 3,200,000 | 6.43000% | 0.01998% | 6.41002% | NAP | 17,384.81 | NAP | 208,617.72 | Interest Only |
A-1-3 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | ARD Loan (Yes / No) | Interest Accrual Method | Original Interest-Only Period (Mos.) | Remaining Interest-Only Period (Mos.) | Original Term To Maturity / ARD (Mos.) | Remaining Term To Maturity / ARD (Mos.) | Original Amortization Term (Mos.) | Remaining Amortization Term (Mos.) | Origination Date |
1.00 | Loan | 5 | 1 | 9950 Woodloch | No | Actual/360 | 0 | 0 | 60 | 60 | 360 | 360 | 6/12/2024 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/14/2024 | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||||||||
2.02 | Property | 1 | Falls Of Braeburn | ||||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | No | Actual/360 | 0 | 0 | 60 | 60 | NAP | NAP | 6/10/2024 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/3/2024 |
4.01 | Property | 1 | Lotus 315 | ||||||||||
4.02 | Property | 1 | Essence 144 | ||||||||||
5.00 | Loan | 1 | The Archive Apartments | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/17/2024 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/18/2024 |
7.00 | Loan | 8 | ExchangeRight 67 | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/11/2024 | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | No | Actual/360 | 24 | 24 | 60 | 60 | 360 | 360 | 6/11/2024 |
9.00 | Loan | 1 | Solon Park Apartments | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/7/2024 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/21/2024 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/6/2024 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/31/2024 |
13.00 | Loan | 1 | 324 West 125th Street | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/21/2024 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/29/2024 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/21/2024 |
16.00 | Loan | 1 | Escarlata 31 | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/4/2024 | |
17.00 | Loan | 1 | Dadeland West Office Park | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/6/2024 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/13/2024 |
18.01 | Property | 1 | Henderson MHP | ||||||||||
18.02 | Property | 1 | Whispering Pines Estates | ||||||||||
18.03 | Property | 1 | Monson MHC | ||||||||||
18.04 | Property | 1 | Everglades MHP | ||||||||||
18.05 | Property | 1 | Royal Palm MHP | ||||||||||
18.06 | Property | 1 | American MHP | ||||||||||
18.07 | Property | 1 | NallCourt MHP | ||||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | No | Actual/360 | 60 | 55 | 60 | 55 | 0 | 0 | 1/31/2024 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/21/2024 |
21.00 | Loan | 1 | Escarlata 29 | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/4/2024 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 6/6/2024 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | No | Actual/360 | 0 | 0 | 60 | 59 | 360 | 359 | 5/13/2024 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/11/2024 |
25.00 | Loan | 55 | 1 | Concord Hills | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/29/2024 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | No | Actual/360 | 0 | 0 | 60 | 60 | 240 | 240 | 6/25/2024 |
27.00 | Loan | 1 | Mitchell Lofts | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 4/10/2024 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/17/2024 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/13/2024 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/21/2024 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 6/11/2024 |
32.00 | Loan | 1 | 605 East 16th Street | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 5/31/2024 |
A-1-4 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Seasoning (Mos.) | Payment Due Date | First Payment Date | First P&I Payment Date | Maturity Date or Anticipated Repayment Date | Final Maturity Date | Grace Period - Late Fee (Days) | Grace Period - Default (Days) | Prepayment Provision |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 0 | 11 | 8/11/2024 | 8/11/2024 | 7/11/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 0 | 11 | 8/11/2024 | NAP | 7/11/2029 | NAP | 0 | 0 | L(24),D(29),O(7) | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||||||||
2.02 | Property | 1 | Falls Of Braeburn | ||||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 0 | 1 | 8/1/2024 | 8/1/2024 | 7/1/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(28),O(7) |
4.01 | Property | 1 | Lotus 315 | ||||||||||
4.02 | Property | 1 | Essence 144 | ||||||||||
5.00 | Loan | 1 | The Archive Apartments | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(32),O(3) | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 5 | 0 | L(24),D(31),O(5) |
7.00 | Loan | 8 | ExchangeRight 67 | 1 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | L(25),D(28),O(7) | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 0 | 6 | 8/6/2024 | 8/6/2026 | 7/6/2029 | NAP | 0 | 0 | L(24),D(33),O(3) |
9.00 | Loan | 1 | Solon Park Apartments | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(32),O(4) | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 1 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | L(25),D(28),O(7) |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 1 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | L(24),YM1(29),O(7) |
13.00 | Loan | 1 | 324 West 125th Street | 1 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | L(25),D(26),O(9) | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(31),O(4) |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
16.00 | Loan | 1 | Escarlata 31 | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(32),O(3) | |
17.00 | Loan | 1 | Dadeland West Office Park | 1 | 11 | 7/11/2024 | NAP | 6/11/2029 | NAP | 0 | 0 | L(25),YM1(29),O(6) | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(28),O(7) |
18.01 | Property | 1 | Henderson MHP | ||||||||||
18.02 | Property | 1 | Whispering Pines Estates | ||||||||||
18.03 | Property | 1 | Monson MHC | ||||||||||
18.04 | Property | 1 | Everglades MHP | ||||||||||
18.05 | Property | 1 | Royal Palm MHP | ||||||||||
18.06 | Property | 1 | American MHP | ||||||||||
18.07 | Property | 1 | NallCourt MHP | ||||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 5 | 6 | 3/6/2024 | NAP | 2/6/2029 | NAP | 0 | 0 | L(29),D(27),O(4) |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
21.00 | Loan | 1 | Escarlata 29 | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(32),O(3) | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(12),YM1(41),O(7) |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 1 | 6 | 7/6/2024 | 7/6/2024 | 6/6/2029 | NAP | 0 | 0 | L(25),D(31),O(4) |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(33),O(3) |
25.00 | Loan | 55 | 1 | Concord Hills | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(31),O(4) |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 0 | 6 | 8/6/2024 | 8/6/2024 | 7/6/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
27.00 | Loan | 1 | Mitchell Lofts | 2 | 6 | 6/6/2024 | NAP | 5/6/2029 | NAP | 0 | 0 | L(26),D(30),O(4) | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(29),O(7) |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(32),O(4) | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(28),O(7) | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 0 | 6 | 8/6/2024 | NAP | 7/6/2029 | NAP | 0 | 0 | L(24),D(33),O(3) |
32.00 | Loan | 1 | 605 East 16th Street | 1 | 6 | 7/6/2024 | NAP | 6/6/2029 | NAP | 0 | 0 | L(25),D(30),O(5) |
A-1-5 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Most Recent EGI ($) | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent NOI Date | Most Recent Description | Second Most Recent EGI ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent NOI Date | Second Most Recent Description |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 17,550,604 | 10,994,138 | 6,556,466 | 3/31/2024 | T-12 | 15,811,720 | 10,373,607 | 5,438,113 | 12/31/2023 | T-12 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 11,705,777 | 4,987,120 | 6,718,657 | 4/30/2024 | T-12 | 11,203,972 | 4,866,524 | 6,337,449 | 12/31/2023 | T-12 | |
2.01 | Property | 1 | Miami Gardens Apartments | 5,279,256 | 2,064,356 | 3,214,900 | 4/30/2024 | T-12 | 5,074,204 | 2,020,119 | 3,054,085 | 12/31/2023 | T-12 | |
2.02 | Property | 1 | Falls Of Braeburn | 3,334,996 | 1,701,517 | 1,633,479 | 4/30/2024 | T-12 | 3,126,453 | 1,624,822 | 1,501,630 | 12/31/2023 | T-12 | |
2.03 | Property | 1 | Chelsea Lane Apartments | 3,091,526 | 1,221,247 | 1,870,278 | 4/30/2024 | T-12 | 3,003,316 | 1,221,582 | 1,781,734 | 12/31/2023 | T-12 | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 72,036,886 | 18,237,231 | 53,799,655 | 12/31/2023 | T-12 | 67,571,078 | 19,799,244 | 47,771,835 | 12/31/2022 | T-12 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 8,249,395 | 2,378,747 | 5,870,649 | 4/30/2024 | T-12 | 8,049,905 | 2,390,337 | 5,659,568 | 12/31/2023 | T-12 |
4.01 | Property | 1 | Lotus 315 | 4,517,625 | 1,291,194 | 3,226,432 | 4/30/2024 | T-12 | 4,382,823 | 1,264,647 | 3,118,176 | 12/31/2023 | T-12 | |
4.02 | Property | 1 | Essence 144 | 3,731,770 | 1,087,553 | 2,644,217 | 4/30/2024 | T-12 | 3,667,082 | 1,125,690 | 2,541,392 | 12/31/2023 | T-12 | |
5.00 | Loan | 1 | The Archive Apartments | 6,315,629 | 2,356,133 | 3,959,496 | 5/31/2024 | T-12 | 5,984,834 | 2,362,380 | 3,622,453 | 12/31/2023 | T-12 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 6,640,991 | 3,358,197 | 3,282,794 | 4/30/2024 | T-12 | 6,949,062 | 3,381,022 | 3,568,040 | 12/31/2023 | T-12 |
7.00 | Loan | 8 | ExchangeRight 67 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 6,386,634 | 2,747,410 | 3,639,224 | 4/30/2024 | T-12 | 6,155,468 | 2,739,008 | 3,416,460 | 12/31/2023 | T-12 |
9.00 | Loan | 1 | Solon Park Apartments | 3,992,064 | 1,589,925 | 2,402,139 | 5/31/2024 | T-12 | 3,802,716 | 1,617,624 | 2,185,092 | 12/31/2023 | T-12 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 14,813,844 | 10,057,850 | 4,755,994 | 3/31/2024 | T-12 | 14,534,015 | 9,845,471 | 4,688,544 | 12/31/2023 | T-12 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 16,879,806 | 4,185,679 | 12,694,127 | 3/31/2024 | T-12 | 16,603,708 | 4,311,244 | 12,292,464 | 12/31/2023 | T-12 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 8,818,899 | 5,158,188 | 3,660,711 | 4/30/2024 | T-12 | 8,661,340 | 5,023,236 | 3,638,104 | 12/31/2023 | T-12 |
13.00 | Loan | 1 | 324 West 125th Street | 2,318,993 | 323,881 | 1,995,112 | 3/30/2024 | T-12 | 2,267,826 | 319,115 | 1,948,711 | 12/31/2023 | T-12 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 8,479,266 | 2,742,676 | 5,736,590 | 3/31/2024 | T-12 | 8,367,815 | 2,768,993 | 5,598,822 | 12/31/2023 | T-12 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 2,521,020 | 609,825 | 1,911,195 | 4/30/2024 | T-12 | 2,330,386 | 609,943 | 1,720,443 | 12/31/2023 | T-12 |
16.00 | Loan | 1 | Escarlata 31 | 1,577,982 | 284,783 | 1,293,199 | 4/30/2024 | T-12 | 1,531,871 | 279,305 | 1,252,566 | 12/31/2023 | T-12 | |
17.00 | Loan | 1 | Dadeland West Office Park | 3,323,855 | 1,421,953 | 1,901,902 | 3/31/2024 | T-12 | 3,259,035 | 1,412,402 | 1,846,633 | 12/31/2023 | T-12 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 1,686,441 | 553,435 | 1,133,006 | Various | T-12 | 1,623,351 | 539,455 | 1,083,896 | 12/31/2023 | T-12 |
18.01 | Property | 1 | Henderson MHP | 325,802 | 73,619 | 252,183 | 3/31/2024 | T-12 | 310,868 | 74,963 | 235,905 | 12/31/2023 | T-12 | |
18.02 | Property | 1 | Whispering Pines Estates | 330,510 | 113,577 | 216,933 | 2/29/2024 | T-12 | 318,375 | 102,525 | 215,850 | 12/31/2023 | T-12 | |
18.03 | Property | 1 | Monson MHC | 350,085 | 133,032 | 217,053 | 2/29/2024 | T-12 | 337,430 | 130,046 | 207,384 | 12/31/2023 | T-12 | |
18.04 | Property | 1 | Everglades MHP | 181,310 | 38,320 | 142,990 | 2/29/2024 | T-12 | 172,925 | 37,855 | 135,070 | 12/31/2023 | T-12 | |
18.05 | Property | 1 | Royal Palm MHP | 173,730 | 34,426 | 139,304 | 2/29/2024 | T-12 | 165,550 | 37,438 | 128,112 | 12/31/2023 | T-12 | |
18.06 | Property | 1 | American MHP | 220,198 | 125,563 | 94,635 | 2/29/2024 | T-12 | 216,504 | 121,743 | 94,761 | 12/31/2023 | T-12 | |
18.07 | Property | 1 | NallCourt MHP | 104,806 | 34,898 | 69,908 | 3/31/2024 | T-12 | 101,699 | 34,885 | 66,814 | 12/31/2023 | T-12 | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 8,905,892 | 2,772,457 | 6,133,435 | 12/31/2023 | T-12 | 8,464,424 | 2,528,661 | 5,935,763 | 12/31/2022 | T-12 Annualized |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
21.00 | Loan | 1 | Escarlata 29 | 1,352,661 | 278,460 | 1,074,201 | 4/30/2024 | T-12 | 1,325,248 | 281,044 | 1,044,204 | 12/31/2023 | T-12 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 4,986,379 | 2,916,889 | 2,069,490 | 4/30/2024 | T-12 | 5,083,945 | 2,910,446 | 2,173,499 | 12/31/2023 | T-12 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 4,337,013 | 2,718,675 | 1,618,338 | 3/31/2024 | T-12 | 4,370,965 | 2,740,576 | 1,630,388 | 12/31/2023 | T-12 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 882,006 | 206,051 | 675,955 | 3/31/2024 | T-12 | 680,539 | 197,068 | 483,471 | 12/31/2023 | T-12 |
25.00 | Loan | 55 | 1 | Concord Hills | 1,470,106 | 662,249 | 807,857 | 2/29/2024 | T-12 | NAV | NAV | NAV | NAV | NAV |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 416,104 | 377,553 | 38,550 | 4/30/2024 | T-12 | 556,772 | 392,376 | 164,396 | 12/31/2023 | T-12 |
27.00 | Loan | 1 | Mitchell Lofts | 1,604,247 | 1,134,433 | 469,813 | 2/28/2024 | T-12 | 1,577,192 | 1,155,545 | 421,647 | 12/31/2023 | T-12 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 858,847 | 246,265 | 612,581 | 3/31/2024 | T-12 | 1,026,827 | 220,072 | 806,755 | 12/31/2023 | T-12 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 1,038,408 | 317,822 | 720,586 | 4/30/2024 | T-12 | 824,630 | 285,140 | 539,490 | 12/31/2023 | T-12 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 836,521 | 236,079 | 600,443 | 3/31/2024 | T-12 | 838,943 | 230,009 | 608,933 | 12/31/2023 | T-12 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 876,750 | 479,274 | 397,476 | 4/30/2024 | T-12 | 861,556 | 483,467 | 378,089 | 12/31/2023 | T-12 |
32.00 | Loan | 1 | 605 East 16th Street | 564,824 | 288,321 | 276,504 | 4/30/2024 | T-12 | 558,620 | 299,610 | 259,010 | 12/31/2023 | T-12 |
A-1-6 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Most Recent EGI ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent NOI Date | Third Most Recent Description | Underwritten Economic Occupancy (%) | Underwritten EGI ($) | Underwritten Expenses ($) | Underwritten Net Operating Income ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 10,330,570 | 8,993,211 | 1,337,359 | 12/31/2022 | T-12 | 95.0% | 29,009,847 | 12,018,882 | 16,990,965 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 9,878,721 | 4,588,649 | 5,290,072 | 12/31/2022 | T-12 | 88.2% | 12,312,557 | 5,945,517 | 6,367,040 | |
2.01 | Property | 1 | Miami Gardens Apartments | 4,427,404 | 1,978,420 | 2,448,983 | 12/31/2022 | T-12 | 83.1% | 5,514,139 | 2,499,999 | 3,014,140 | |
2.02 | Property | 1 | Falls Of Braeburn | 2,925,140 | 1,519,654 | 1,405,486 | 12/31/2022 | T-12 | 94.3% | 3,652,040 | 1,847,865 | 1,804,175 | |
2.03 | Property | 1 | Chelsea Lane Apartments | 2,526,177 | 1,090,574 | 1,435,603 | 12/31/2022 | T-12 | 91.0% | 3,146,378 | 1,597,653 | 1,548,724 | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 66,651,606 | 17,827,438 | 48,824,168 | 12/31/2021 | T-12 | 92.9% | 77,479,026 | 21,293,412 | 56,185,614 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 7,953,274 | 2,349,398 | 5,603,876 | 12/31/2022 | T-12 | 95.0% | 9,423,831 | 2,452,429 | 6,971,402 |
4.01 | Property | 1 | Lotus 315 | 4,442,177 | 1,229,862 | 3,212,315 | 12/31/2022 | T-12 | 95.0% | 5,468,228 | 1,365,229 | 4,102,999 | |
4.02 | Property | 1 | Essence 144 | 3,511,097 | 1,119,536 | 2,391,561 | 12/31/2022 | T-12 | 95.0% | 3,955,603 | 1,087,200 | 2,868,403 | |
5.00 | Loan | 1 | The Archive Apartments | 5,790,983 | 2,189,888 | 3,601,095 | 12/31/2022 | T-12 | 95.0% | 6,565,948 | 2,375,509 | 4,190,439 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 6,766,257 | 3,357,104 | 3,409,153 | 12/31/2022 | T-12 | 95.0% | 7,272,118 | 3,452,177 | 3,819,941 |
7.00 | Loan | 8 | ExchangeRight 67 | NAV | NAV | NAV | NAV | NAV | 96.1% | 5,032,508 | 716,364 | 4,316,143 | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,394,990 | 442,167 | 1,952,823 | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAV | NAV | NAV | NAV | NAV | 97.0% | 946,964 | 184,663 | 762,301 | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAV | NAV | NAV | NAV | NAV | 97.0% | 475,379 | 14,261 | 461,117 | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAV | NAV | NAV | NAV | NAV | 97.0% | 372,393 | 11,172 | 361,221 | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAV | NAV | NAV | NAV | NAV | 97.0% | 326,619 | 9,799 | 316,821 | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAV | NAV | NAV | NAV | NAV | 99.0% | 247,500 | 7,425 | 240,075 | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAV | NAV | NAV | NAV | NAV | 95.0% | 142,244 | 20,017 | 122,226 | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAV | NAV | NAV | NAV | NAV | 95.0% | 126,420 | 26,861 | 99,559 | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 5,742,154 | 2,651,719 | 3,090,434 | 12/31/2022 | T-12 | 90.0% | 6,610,141 | 2,856,136 | 3,754,005 |
9.00 | Loan | 1 | Solon Park Apartments | 3,231,980 | 1,716,315 | 1,515,666 | 12/31/2022 | T-12 | 93.1% | 4,166,728 | 1,632,034 | 2,534,694 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 11,725,968 | 8,713,660 | 3,012,308 | 12/31/2022 | T-12 | 56.3% | 14,808,227 | 10,173,768 | 4,634,459 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 16,698,714 | 4,697,634 | 12,001,080 | 12/31/2022 | T-12 | 73.5% | 18,454,322 | 4,621,356 | 13,832,966 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 8,342,067 | 4,799,507 | 3,542,560 | 12/31/2022 | T-12 | 64.8% | 8,797,090 | 5,158,015 | 3,639,075 |
13.00 | Loan | 1 | 324 West 125th Street | 2,118,983 | 101,370 | 2,017,613 | 12/31/2022 | T-12 | 95.0% | 2,247,278 | 321,730 | 1,925,548 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 8,346,913 | 2,607,851 | 5,739,062 | 12/31/2022 | T-12 | 95.0% | 8,409,067 | 3,080,433 | 5,328,634 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 1,976,229 | 580,067 | 1,396,162 | 12/31/2022 | T-12 | 95.0% | 2,847,638 | 704,792 | 2,142,846 |
16.00 | Loan | 1 | Escarlata 31 | 1,183,226 | 291,101 | 892,125 | 2/28/2023 | T-12 | 95.0% | 1,526,430 | 296,039 | 1,230,390 | |
17.00 | Loan | 1 | Dadeland West Office Park | 2,971,784 | 1,278,224 | 1,693,559 | 12/31/2022 | T-12 | 94.6% | 3,430,415 | 1,391,849 | 2,038,566 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAV | NAV | NAV | NAV | NAV | 95.1% | 1,932,700 | 611,977 | 1,320,723 |
18.01 | Property | 1 | Henderson MHP | NAV | NAV | NAV | NAV | NAV | 95.0% | 347,335 | 96,192 | 251,143 | |
18.02 | Property | 1 | Whispering Pines Estates | NAV | NAV | NAV | NAV | NAV | 97.0% | 379,806 | 121,954 | 257,852 | |
18.03 | Property | 1 | Monson MHC | NAV | NAV | NAV | NAV | NAV | 97.0% | 405,024 | 149,363 | 255,660 | |
18.04 | Property | 1 | Everglades MHP | NAV | NAV | NAV | NAV | NAV | 95.0% | 220,182 | 39,514 | 180,669 | |
18.05 | Property | 1 | Royal Palm MHP | NAV | NAV | NAV | NAV | NAV | 95.0% | 204,090 | 34,996 | 169,094 | |
18.06 | Property | 1 | American MHP | NAV | NAV | NAV | NAV | NAV | 90.0% | 268,339 | 130,504 | 137,835 | |
18.07 | Property | 1 | NallCourt MHP | NAV | NAV | NAV | NAV | NAV | 95.0% | 107,923 | 39,453 | 68,470 | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 8,093,027 | 2,769,208 | 5,323,819 | 12/31/2021 | T-12 | 94.2% | 9,088,532 | 2,686,379 | 6,402,152 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,144,709 | 451,936 | 1,692,773 |
21.00 | Loan | 1 | Escarlata 29 | 1,031,241 | 292,118 | 739,123 | 2/28/2023 | T-12 | 95.0% | 1,298,432 | 297,994 | 1,000,438 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 5,055,970 | 2,678,626 | 2,377,344 | 12/31/2022 | T-12 | 90.3% | 4,961,666 | 2,898,862 | 2,062,804 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 4,369,290 | 2,599,426 | 1,769,864 | 12/31/2022 | T-12 | 79.7% | 4,325,209 | 2,706,542 | 1,618,667 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAV | NAV | NAV | NAV | NAV | 95.9% | 1,130,955 | 223,599 | 907,356 |
25.00 | Loan | 55 | 1 | Concord Hills | NAV | NAV | NAV | NAV | NAV | 94.2% | 1,778,727 | 681,940 | 1,096,787 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 396,905 | 344,377 | 52,528 | 12/31/2022 | T-12 | 97.6% | 2,038,283 | 454,614 | 1,583,669 |
27.00 | Loan | 1 | Mitchell Lofts | 1,593,447 | 1,050,971 | 542,476 | 12/31/2022 | T-12 | 88.4% | 1,754,470 | 1,018,025 | 736,445 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 1,262,936 | 227,329 | 1,035,607 | 12/31/2022 | T-12 | 92.1% | 1,566,950 | 314,001 | 1,252,949 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 902,244 | 269,797 | 632,447 | 12/31/2022 | T-12 | 95.0% | 1,117,349 | 309,134 | 808,215 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 799,637 | 222,187 | 577,450 | 12/31/2022 | T-12 | 77.3% | 785,200 | 236,637 | 548,563 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 755,795 | 449,024 | 306,771 | 12/31/2022 | T-12 | 93.8% | 946,089 | 465,772 | 480,317 |
32.00 | Loan | 1 | 605 East 16th Street | 527,697 | 284,677 | 243,020 | 12/31/2022 | T-12 | 97.0% | 548,401 | 276,355 | 272,046 |
A-1-7 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten Replacement / FF&E Reserve ($) | Underwritten TI / LC ($) | Underwritten Net Cash Flow ($) | Underwritten NOI DSCR (x) | Underwritten NCF DSCR (x) | Underwritten NOI Debt Yield (%) | Underwritten NCF Debt Yield (%) | Appraised Value ($) | Appraised Value Type |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 120,230 | 1,202,302 | 15,668,433 | 1.62 | 1.50 | 13.1% | 12.1% | 231,500,000 | As Is |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 235,500 | 0 | 6,131,540 | 1.40 | 1.35 | 9.9% | 9.5% | 103,400,000 | As Is | |
2.01 | Property | 1 | Miami Gardens Apartments | 110,500 | 0 | 2,903,640 | 51,500,000 | As Is | |||||
2.02 | Property | 1 | Falls Of Braeburn | 73,000 | 0 | 1,731,175 | 26,000,000 | As Is | |||||
2.03 | Property | 1 | Chelsea Lane Apartments | 52,000 | 0 | 1,496,724 | 25,900,000 | As Is | |||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 78,633 | 7,574,210 | 48,532,770 | 2.37 | 2.04 | 18.7% | 16.2% | 720,000,000 | As Is |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 87,746 | 16,200 | 6,867,456 | 1.24 | 1.23 | 8.1% | 8.0% | 123,700,000 | Various |
4.01 | Property | 1 | Lotus 315 | 48,521 | 16,200 | 4,038,278 | 73,200,000 | Prospective Market Value Upon Stabilization | |||||
4.02 | Property | 1 | Essence 144 | 39,225 | 0 | 2,829,178 | 50,500,000 | As Is | |||||
5.00 | Loan | 1 | The Archive Apartments | 50,000 | 0 | 4,140,439 | 1.25 | 1.23 | 8.8% | 8.7% | 71,000,000 | As Is | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 56,500 | 0 | 3,763,441 | 1.28 | 1.26 | 8.4% | 8.3% | 73,300,000 | As Is |
7.00 | Loan | 8 | ExchangeRight 67 | 55,340 | 90,893 | 4,169,910 | 1.97 | 1.90 | 12.9% | 12.4% | 71,675,000 | As Is | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | 32,586 | 123,208 | 1,797,029 | 33,400,000 | As Is | |||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | 9,495 | 0 | 752,806 | 12,100,000 | As Is | |||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | 2,884 | 0 | 458,233 | 7,400,000 | As Is | |||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | 4,011 | -50,000 | 407,210 | 6,100,000 | As Is | |||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | 3,290 | 0 | 313,531 | 5,200,000 | As Is | |||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | 0 | 0 | 240,075 | 3,800,000 | As Is | |||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | 1,575 | 9,113 | 111,539 | 1,850,000 | As Is | |||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | 1,500 | 8,572 | 89,487 | 1,825,000 | As Is | |||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 39,011 | 312,435 | 3,402,559 | 1.39 | 1.26 | 11.6% | 10.6% | 60,000,000 | As Is |
9.00 | Loan | 1 | Solon Park Apartments | 60,000 | 0 | 2,474,694 | 1.34 | 1.31 | 9.1% | 8.8% | 37,400,000 | As Is | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 592,329 | 0 | 4,042,130 | 2.33 | 2.03 | 17.2% | 15.0% | 55,300,000 | As Is |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 102,685 | 0 | 13,730,281 | 1.41 | 1.40 | 10.2% | 10.2% | 229,700,000 | As Is |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 351,884 | 0 | 3,287,191 | 2.11 | 1.91 | 15.6% | 14.1% | 40,700,000 | As Is |
13.00 | Loan | 1 | 324 West 125th Street | 3,477 | 32,762 | 1,889,309 | 1.23 | 1.21 | 8.4% | 8.2% | 32,900,000 | As Is | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 111,750 | 0 | 5,216,884 | 2.19 | 2.14 | 16.4% | 16.1% | 98,000,000 | As Is |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 10,557 | 46,700 | 2,085,589 | 1.32 | 1.29 | 9.7% | 9.5% | 35,000,000 | As Is |
16.00 | Loan | 1 | Escarlata 31 | 23,661 | 0 | 1,206,730 | 1.26 | 1.24 | 8.2% | 8.0% | 22,100,000 | As Is | |
17.00 | Loan | 1 | Dadeland West Office Park | 37,748 | 93,779 | 1,907,039 | 2.03 | 1.90 | 14.5% | 13.5% | 23,600,000 | As Is | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 16,600 | 0 | 1,304,123 | 1.32 | 1.31 | 9.4% | 9.3% | 21,120,000 | As Is |
18.01 | Property | 1 | Henderson MHP | 2,700 | 0 | 248,443 | 3,800,000 | As Is | |||||
18.02 | Property | 1 | Whispering Pines Estates | 2,650 | 0 | 255,202 | 4,140,000 | As Is | |||||
18.03 | Property | 1 | Monson MHC | 3,050 | 0 | 252,610 | 4,560,000 | As Is | |||||
18.04 | Property | 1 | Everglades MHP | 2,750 | 0 | 177,919 | 2,500,000 | As Is | |||||
18.05 | Property | 1 | Royal Palm MHP | 2,550 | 0 | 166,544 | 2,600,000 | As Is | |||||
18.06 | Property | 1 | American MHP | 1,950 | 0 | 135,885 | 2,540,000 | As Is | |||||
18.07 | Property | 1 | NallCourt MHP | 950 | 0 | 67,520 | 980,000 | As Is | |||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 184,500 | 0 | 6,217,652 | 1.69 | 1.64 | 12.1% | 11.7% | 77,000,000 | As Is |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 8,805 | 81,448 | 1,602,519 | 1.71 | 1.62 | 13.0% | 12.3% | 24,100,000 | As Is with Escrow |
21.00 | Loan | 1 | Escarlata 29 | 23,461 | 0 | 976,977 | 1.25 | 1.22 | 8.3% | 8.1% | 17,500,000 | As Is | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 198,467 | 0 | 1,864,337 | 2.58 | 2.33 | 18.3% | 16.6% | 21,500,000 | As Is |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 173,008 | 0 | 1,445,659 | 1.62 | 1.45 | 14.9% | 13.3% | 17,000,000 | As Is |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 3,465 | 25,683 | 878,207 | 1.31 | 1.26 | 9.1% | 8.8% | 15,000,000 | As Is |
25.00 | Loan | 55 | 1 | Concord Hills | 32,000 | 0 | 1,064,787 | 1.46 | 1.41 | 11.6% | 11.3% | 12,970,000 | As Is |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 10,044 | 8,234 | 1,565,391 | 1.90 | 1.88 | 17.6% | 17.4% | 25,900,000 | As Is |
27.00 | Loan | 1 | Mitchell Lofts | 19,750 | 0 | 716,695 | 1.36 | 1.32 | 10.2% | 10.0% | 16,950,000 | As Is | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 23,274 | 87,272 | 1,142,403 | 3.19 | 2.90 | 20.2% | 18.4% | 15,000,000 | As Is |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 13,401 | 18,755 | 776,059 | 2.07 | 1.99 | 14.4% | 13.9% | 8,650,000 | As Is | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 5,085 | 0 | 543,478 | 1.35 | 1.34 | 10.5% | 10.5% | 9,200,000 | As Is | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 18,550 | 0 | 461,767 | 1.30 | 1.25 | 9.6% | 9.2% | 8,150,000 | As Is |
32.00 | Loan | 1 | 605 East 16th Street | 8,500 | 0 | 263,546 | 1.30 | 1.26 | 8.5% | 8.2% | 4,600,000 | As Is |
A-1-8 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Appraisal Date | Cut-off Date LTV Ratio (%) | LTV Ratio at Maturity / ARD (%) | Leased Occupancy (%) | Occupancy Date | Single Tenant (Y/N) | Largest Tenant | Largest Tenant SF | Largest Tenant % of NRA | Largest Tenant Lease Expiration Date |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 5/9/2024 | 56.2% | 53.3% | 97.0% | 6/3/2024 | No | Western Midstream Partners, LP | 188,318 | 31.3% | 12/31/2031 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 4/19/2024 | 62.4% | 62.4% | 88.7% | 6/5/2024 | ||||||
2.01 | Property | 1 | Miami Gardens Apartments | 4/19/2024 | 84.2% | 6/5/2024 | NAP | NAP | NAP | NAP | NAP | |||
2.02 | Property | 1 | Falls Of Braeburn | 4/19/2024 | 94.2% | 6/5/2024 | NAP | NAP | NAP | NAP | NAP | |||
2.03 | Property | 1 | Chelsea Lane Apartments | 4/19/2024 | 90.4% | 6/5/2024 | NAP | NAP | NAP | NAP | NAP | |||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 2/28/2024 | 41.7% | 38.1% | 92.9% | 1/31/2024 | No | Victoria's Secret | 63,779 | 20.3% | 1/31/2032 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | Various | 69.6% | 69.6% | 96.4% | 6/1/2024 | |||||
4.01 | Property | 1 | Lotus 315 | 10/1/2024 | 95.6% | 6/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
4.02 | Property | 1 | Essence 144 | 4/23/2024 | 97.4% | 6/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
5.00 | Loan | 1 | The Archive Apartments | 3/12/2024 | 67.4% | 67.4% | 96.5% | 5/7/2024 | NAP | NAP | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 4/17/2024 | 62.1% | 62.1% | 94.2% | 6/10/2024 | NAP | NAP | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | Various | 46.8% | 46.8% | 100.0% | 7/1/2024 | ||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | 2/8/2024 | 100.0% | 7/1/2024 | Yes | FedEx Ground - Moselle (Superior), MS | 217,237 | 100.0% | 9/30/2032 | |||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | 5/11/2024 | 100.0% | 7/1/2024 | Yes | Metro Market - Mukwonago, WI | 63,303 | 100.0% | 12/31/2034 | |||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | 2/2/2024 | 100.0% | 7/1/2024 | Yes | BJC Health Care - Godfrey (Godfrey), IL | 14,419 | 100.0% | 9/30/2033 | |||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | 2/9/2024 | 100.0% | 7/1/2024 | Yes | Tractor Supply - New Richmond (Dorset), WI | 26,738 | 100.0% | 12/31/2038 | |||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | 2/9/2024 | 100.0% | 7/1/2024 | Yes | Tractor Supply - Canal Fulton (Locust), OH | 21,930 | 100.0% | 2/28/2039 | |||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | 2/6/2024 | 100.0% | 7/1/2024 | Yes | Bank of America - Mount Prospect (Elmhurst), IL | 5,717 | 100.0% | 12/31/2032 | |||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | 2/7/2024 | 100.0% | 7/1/2024 | Yes | Family Dollar / Dollar Tree Combo - Rosewell (Main), NM | 10,500 | 100.0% | 1/31/2034 | |||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | 2/8/2024 | 100.0% | 7/1/2024 | Yes | Dollar Tree - Gulfport (Canal), MS | 10,000 | 100.0% | 2/28/2034 | |||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 1/17/2024 | 53.8% | 52.4% | 91.9% | 6/3/2024 | No | Allure Gems LLC | 17,531 | 9.0% | 6/30/2031 |
9.00 | Loan | 1 | Solon Park Apartments | 5/20/2024 | 74.9% | 74.9% | 93.8% | 5/31/2024 | NAP | NAP | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 4/4/2024 | 48.8% | 48.8% | 56.3% | 3/31/2024 | NAP | NAP | NAP | NAP | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 4/16/2024 | 58.8% | 58.8% | 71.1% | 5/15/2024 | No | Gibson Brands, Inc. | 57,357 | 14.0% | 12/31/2032 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 5/1/2024 | 57.2% | 57.2% | 64.8% | 4/30/2024 | NAP | NAP | NAP | NAP | NAP |
13.00 | Loan | 1 | 324 West 125th Street | 11/28/2023 | 69.9% | 69.9% | 100.0% | 4/1/2024 | No | ZP Radiology | 9,747 | 56.1% | 2/28/2038 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 4/19/2024 | 33.2% | 33.2% | 99.8% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 4/24/2024 | 62.9% | 62.9% | 100.0% | 6/1/2024 | No | Artists & Fleas | 5,141 | 9.3% | 5/31/2025 |
16.00 | Loan | 1 | Escarlata 31 | 3/25/2024 | 67.9% | 67.9% | 98.9% | 4/16/2024 | NAP | NAP | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | 4/23/2024 | 59.7% | 59.7% | 94.8% | 5/16/2024 | No | Carisk Partners | 8,463 | 7.6% | 11/30/2030 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | Various | 66.3% | 66.3% | 96.8% | 5/1/2024 | |||||
18.01 | Property | 1 | Henderson MHP | 3/18/2024 | 94.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.02 | Property | 1 | Whispering Pines Estates | 3/19/2024 | 100.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.03 | Property | 1 | Monson MHC | 3/19/2024 | 98.4% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.04 | Property | 1 | Everglades MHP | 3/18/2024 | 96.4% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.05 | Property | 1 | Royal Palm MHP | 3/18/2024 | 100.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.06 | Property | 1 | American MHP | 3/19/2024 | 90.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
18.07 | Property | 1 | NallCourt MHP | 3/18/2024 | 100.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP | |||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 12/12/2023 | 68.8% | 68.8% | 95.4% | 1/11/2024 | NAP | NAP | NAP | NAP | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 4/3/2024 | 53.9% | 53.9% | 100.0% | 6/11/2024 | No | Platform Sports | 11,173 | 25.4% | 12/31/2033 |
21.00 | Loan | 1 | Escarlata 29 | 3/25/2024 | 68.6% | 68.6% | 97.5% | 4/16/2024 | NAP | NAP | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 4/24/2024 | 52.3% | 52.3% | 90.3% | 4/30/2024 | NAP | NAP | NAP | NAP | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 3/13/2024 | 63.8% | 61.5% | 79.7% | 3/31/2024 | NAP | NAP | NAP | NAP | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 4/11/2024 | 66.7% | 66.7% | 100.0% | 5/31/2024 | No | 9th Ave. Royal Deli Inc. | 1,250 | 40.3% | 6/30/2038 |
25.00 | Loan | 55 | 1 | Concord Hills | 3/21/2024 | 72.9% | 72.9% | 93.0% | 5/22/2024 | NAP | NAP | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 4/20/2024 | 34.7% | 30.2% | 100.0% | 6/1/2024 | No | Tesla, Inc. | 51,102 | 86.5% | 5/9/2039 |
27.00 | Loan | 1 | Mitchell Lofts | 1/25/2024 | 42.5% | 42.5% | 96.2% | 4/2/2024 | NAP | NAP | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 5/8/2024 | 41.3% | 41.3% | 100.0% | 6/3/2024 | No | Kokkari Restaurant | 8,276 | 37.7% | 11/30/2024 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 5/14/2024 | 64.7% | 64.7% | 100.0% | 6/1/2024 | No | Humboldt | 20,162 | 30.1% | 11/30/2026 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 3/5/2024 | 56.5% | 56.5% | 92.5% | 5/5/2024 | NAP | NAP | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 3/1/2024 | 61.3% | 61.3% | 94.3% | 6/7/2024 | NAP | NAP | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | 3/11/2024 | 69.6% | 69.6% | 100.0% | 5/1/2024 | NAP | NAP | NAP | NAP | NAP |
A-1-9 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Second Largest Tenant | Second Largest Tenant SF | Second Largest Tenant % of NRA | Second Largest Tenant Lease Expiration Date | Third Largest Tenant | Third Largest Tenant SF |
1.00 | Loan | 5 | 1 | 9950 Woodloch | The Woodlands Land Development | 57,329 | 9.5% | 10/31/2030 (42,675 SF), 1/31/2031 (14,654 SF) | Kodiak Gas Services, LLC | 53,060 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | |||||||
2.01 | Property | 1 | Miami Gardens Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
2.02 | Property | 1 | Falls Of Braeburn | NAP | NAP | NAP | NAP | NAP | NAP | |
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | Fidelity Real Estate Company | 40,615 | 12.9% | 11/30/2026 | The Klein Group, LLC | 30,103 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | ||||||
4.01 | Property | 1 | Lotus 315 | NAP | NAP | NAP | NAP | NAP | NAP | |
4.02 | Property | 1 | Essence 144 | NAP | NAP | NAP | NAP | NAP | NAP | |
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | |||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | NAP | NAP | NAP | NAP | NAP | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | NAP | NAP | NAP | NAP | NAP | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | NAP | NAP | NAP | NAP | NAP | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | NAP | NAP | NAP | NAP | NAP | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | NAP | NAP | NAP | NAP | NAP | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | NAP | NAP | NAP | NAP | NAP | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | NAP | NAP | NAP | NAP | NAP | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | NAP | NAP | NAP | NAP | NAP | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | Jenny Yoo Collections, Inc. | 15,973 | 8.2% | 9/30/2029 | Royal Printing & Weaving Inc. | 15,000 |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | NAP | NAP | NAP | NAP | NAP | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | Axial Healthcare, Inc | 45,911 | 11.2% | 6/30/2028 | Serendipity Labs | 32,124 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | NAP | NAP | NAP | NAP | NAP | NAP |
13.00 | Loan | 1 | 324 West 125th Street | CVS Pharmacy | 7,637 | 43.9% | 5/31/2038 | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | NAP | NAP | NAP | NAP | NAP | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | Alpha Industries | 5,084 | 9.2% | 10/31/2025 | Tilit NYC | 5,047 |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | Simplex Group | 6,774 | 6.1% | 9/30/2024 (30 SF), 10/31/2024 (101 SF), 10/31/2030 (6,643 SF) | Gil, Garden, Avertrani Insurance Group | 3,559 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | ||||||
18.01 | Property | 1 | Henderson MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.02 | Property | 1 | Whispering Pines Estates | NAP | NAP | NAP | NAP | NAP | NAP | |
18.03 | Property | 1 | Monson MHC | NAP | NAP | NAP | NAP | NAP | NAP | |
18.04 | Property | 1 | Everglades MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.05 | Property | 1 | Royal Palm MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.06 | Property | 1 | American MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.07 | Property | 1 | NallCourt MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | Seaboard South End | 7,740 | 17.6% | 6/30/2032 (4,485 SF), 5/31/2033 (3,255 SF) | Ghost Tattoo LLC | 6,611 |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | NAP | NAP | NAP | NAP | NAP | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | NAP | NAP | NAP | NAP | NAP | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | Sacco Pizza Corp. | 750 | 24.2% | 6/30/2033 | Don Nail Inc. | 750 |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | McDonald's | 3,900 | 6.6% | 3/13/2037 | Wingstop | 2,080 |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | Realize CPA LLC | 6,813 | 31.0% | 12/31/2031 | McGuinn, Hillman, Palefsky | 4,118 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Wiseman Multimedia | 19,330 | 28.8% | 10/31/2029 | BSI | 13,965 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-10 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Largest Tenant % of NRA | Third Largest Tenant Lease Expiration Date | Fourth Largest Tenant | Fourth Largest Tenant SF | Fourth Largest Tenant % of NRA | Fourth Largest Tenant Lease Expiration Date | Fifth Largest Tenant |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 8.8% | 10/31/2036 | Centric Services, Inc. | 52,634 | 8.8% | 2/29/2036 | HL Amenities |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | ||||||||
2.01 | Property | 1 | Miami Gardens Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.02 | Property | 1 | Falls Of Braeburn | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 9.6% | 4/14/2034 | Abbot Capital Management | 20,019 | 6.4% | 12/31/2032 | Buchanan Ingersoll & Rooney |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | |||||||
4.01 | Property | 1 | Lotus 315 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4.02 | Property | 1 | Essence 144 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | ||||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 7.7% | 12/31/2027 | A. Esteban & Company, Inc. | 14,763 | 7.6% | 2/29/2028 | New York Real Estate Institute, Inc. |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 7.8% | 7/28/2033 | Gish, Sherwood & Friends, Inc. | 28,363 | 6.9% | 5/31/2026 | The Interpublic Group of Companies, Inc. |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13.00 | Loan | 1 | 324 West 125th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 9.1% | 12/31/2026 | Lynch Eisinger Design | 2,836 | 5.1% | 2/28/2026 | Juan Miguel Carrion Cententero |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | 3.2% | 8/31/2030 | Careerxchange | 3,380 | 3.0% | 10/31/2026 | South Florida MD Group | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | |||||||
18.01 | Property | 1 | Henderson MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.02 | Property | 1 | Whispering Pines Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.03 | Property | 1 | Monson MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.04 | Property | 1 | Everglades MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.05 | Property | 1 | Royal Palm MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.06 | Property | 1 | American MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.07 | Property | 1 | NallCourt MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 15.0% | 4/30/2034 | The Plunge House LLC | 2,878 | 6.5% | 7/5/2034 | BFT |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 24.2% | 6/30/2038 | Virago by Chef Yala | 350 | 11.3% | 4/30/2033 | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 3.5% | 7/15/2027 | Chipotle | 2,000 | 3.4% | 6/7/2027 | NAP |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 18.8% | 4/1/2029 | William B. Baner, dba The Baner Companies | 2,750 | 12.5% | 4/30/2034 | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 20.8% | 8/31/2029 | CBT Automotive | 13,549 | 20.2% | 2/28/2030 | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-11 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Fifth Largest Tenant SF | Fifth Largest Tenant % of NRA | Fifth Largest Tenant Lease Expiration Date | Environmental Phase I Report Date | Environmental Phase II Report Date | Engineering Report Date | Seismic Report Date | PML or SEL (%) | Flood Zone |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 31,264 | 5.2% | 10/31/2030 (28,047 SF), 1/31/2031 (3,217 SF) | 5/20/2024 | NAP | 5/20/2024 | NAP | NAP | No |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | ||||||||||
2.01 | Property | 1 | Miami Gardens Apartments | NAP | NAP | NAP | 4/23/2024 | NAP | 4/23/2024 | NAP | NAP | No | |
2.02 | Property | 1 | Falls Of Braeburn | NAP | NAP | NAP | 4/23/2024 | NAP | 4/23/2024 | NAP | NAP | No | |
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | NAP | NAP | 4/23/2024 | NAP | 4/23/2024 | NAP | NAP | No | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 16,816 | 5.3% | 1/31/2029 | 4/17/2024 | NAP | 4/12/2024 | NAP | NAP | No |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | |||||||||
4.01 | Property | 1 | Lotus 315 | NAP | NAP | NAP | 5/2/2024 | NAP | 5/2/2024 | NAP | NAP | No | |
4.02 | Property | 1 | Essence 144 | NAP | NAP | NAP | 5/2/2024 | NAP | 5/2/2024 | NAP | NAP | No | |
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | 5/6/2024 | NAP | 4/11/2024 | NAP | NAP | No | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | 5/23/2024 | NAP | 5/21/2024 | 5/22/2024 | 12% | No |
7.00 | Loan | 8 | ExchangeRight 67 | ||||||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | NAP | NAP | 9/28/2023 | NAP | 9/28/2023 | NAP | NAP | No | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | NAP | NAP | 3/22/2024 | NAP | 3/22/2024 | NAP | NAP | No | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | NAP | NAP | 1/9/2024 | NAP | 1/5/2024 | NAP | NAP | No | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | NAP | NAP | 12/8/2023 | NAP | 12/8/2023 | NAP | NAP | No | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | NAP | NAP | 1/24/2024 | NAP | 1/24/2024 | NAP | NAP | No | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | NAP | NAP | 1/30/2024 | NAP | 1/25/2024 | NAP | NAP | No | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | NAP | NAP | 12/15/2023 | 1/29/2024 | 12/12/2023 | NAP | NAP | No | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | NAP | NAP | 2/20/2024 | NAP | 2/20/2024 | NAP | NAP | No | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 9,456 | 4.8% | MTM (7,986 SF), 2/28/2027 (1,470 SF) | 1/22/2024 | NAP | 6/6/2024 | NAP | NAP | No |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | 5/28/2024 | NAP | 5/28/2024 | NAP | NAP | No | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | NAP | NAP | NAP | 4/9/2024 | NAP | 4/11/2024 | NAP | NAP | No |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 17,074 | 4.2% | 10/31/2028 | 4/16/2024 | NAP | 4/17/2024 | NAP | NAP | No |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | NAP | NAP | NAP | 5/7/2024 | NAP | 5/3/2024 | NAP | NAP | No |
13.00 | Loan | 1 | 324 West 125th Street | NAP | NAP | NAP | 12/5/2023 | NAP | 12/5/2023 | NAP | NAP | No | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | NAP | NAP | NAP | 4/23/2024 | NAP | 4/23/2024 | 4/23/2024 | 10% | No |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 2,819 | 5.1% | 12/31/2024 | 4/25/2024 | NAP | 4/25/2024 | NAP | NAP | No |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | 4/19/2024 | NAP | 4/19/2024 | NAP | NAP | No | |
17.00 | Loan | 1 | Dadeland West Office Park | 2,975 | 2.7% | 5/31/2026 | 4/26/2024 | NAP | 4/25/2024 | NAP | NAP | Yes - AH | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | |||||||||
18.01 | Property | 1 | Henderson MHP | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | Yes - AE | |
18.02 | Property | 1 | Whispering Pines Estates | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | No | |
18.03 | Property | 1 | Monson MHC | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | Yes - AE | |
18.04 | Property | 1 | Everglades MHP | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | Yes - AE | |
18.05 | Property | 1 | Royal Palm MHP | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | Yes - AE | |
18.06 | Property | 1 | American MHP | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | Yes - A | |
18.07 | Property | 1 | NallCourt MHP | NAP | NAP | NAP | 3/20/2024 | NAP | 3/20/2024 | NAP | NAP | No | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | NAP | NAP | 12/28/2023 | NAP | 12/28/2023 | NAP | NAP | No |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 2,554 | 5.8% | 12/31/2033 | 4/8/2024 | NAP | 4/1/2024 | NAP | NAP | No |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | 4/19/2024 | NAP | 4/19/2024 | NAP | NAP | No | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | NAP | NAP | NAP | 4/29/2024 | NAP | 4/29/2024 | NAP | NAP | No |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | NAP | NAP | NAP | 3/15/2024 | NAP | 3/15/2024 | NAP | NAP | No |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | NAP | NAP | 4/26/2024 | NAP | 4/26/2024 | NAP | NAP | No |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | 5/1/2024 | NAP | 5/13/2024 | NAP | NAP | No |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | NAP | NAP | 5/1/2024 | NAP | 4/30/2024 | 4/30/2024 | 13% | No |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | 3/25/2024 | NAP | 3/25/2024 | NAP | NAP | No | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | NAP | NAP | 4/1/2024 | NAP | 4/1/2024 | 4/1/2024 | 18% | No |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | NAP | NAP | 4/18/2024 | NAP | 4/18/2024 | NAP | NAP | No | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | 3/22/2024 | NAP | 3/22/2024 | NAP | NAP | No | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | 5/31/2024 | NAP | 3/11/2024 | NAP | NAP | No |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | 3/26/2024 | NAP | 3/26/2024 | NAP | NAP | No |
A-1-12 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Ownership Interest | Ground Lease Expiration Date | Ground Lease Extension Terms | Annual Ground Lease Payment as of the Cut-off Date ($) | Annual Ground Rent Increases (Y/N) | Upfront RE Tax Reserve ($) | Monthly RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Monthly Insurance Reserve ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | Fee | NAP | NAP | NAP | NAP | 1,309,164 | 218,194 | 0 | Springing |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 896,922 | 149,487 | 0 | Springing | ||||||
2.01 | Property | 1 | Miami Gardens Apartments | Fee | NAP | NAP | NAP | NAP | |||||
2.02 | Property | 1 | Falls Of Braeburn | Fee | NAP | NAP | NAP | NAP | |||||
2.03 | Property | 1 | Chelsea Lane Apartments | Fee | NAP | NAP | NAP | NAP | |||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | Fee/Leasehold | 7/30/2070 | None | 1 | No | 0 | Springing | 0 | Springing |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 116,278 | 58,139 | 38,489 | 6,415 | |||||
4.01 | Property | 1 | Lotus 315 | Fee | NAP | NAP | NAP | NAP | |||||
4.02 | Property | 1 | Essence 144 | Fee | NAP | NAP | NAP | NAP | |||||
5.00 | Loan | 1 | The Archive Apartments | Fee | NAP | NAP | NAP | NAP | 302,763 | 75,691 | 48,259 | 16,086 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | Leasehold | 8/23/2049 | 2, 33-year | 792,000 | No | 392,431 | 87,207 | 0 | Springing |
7.00 | Loan | 8 | ExchangeRight 67 | 165,998 | 51,171 | 0 | Springing | ||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | Fee | NAP | NAP | NAP | NAP | |||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | Fee | NAP | NAP | NAP | NAP | |||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | Fee | NAP | NAP | NAP | NAP | |||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | Fee | NAP | NAP | NAP | NAP | |||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | Fee | NAP | NAP | NAP | NAP | |||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | Fee | NAP | NAP | NAP | NAP | |||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | Fee | NAP | NAP | NAP | NAP | |||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | Fee | NAP | NAP | NAP | NAP | |||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | Fee | NAP | NAP | NAP | NAP | 283,596 | 141,798 | 0 | Springing |
9.00 | Loan | 1 | Solon Park Apartments | Fee | NAP | NAP | NAP | NAP | 99,530 | 49,765 | 96,250 | 8,750 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | Fee | NAP | NAP | NAP | NAP | 787,500 | 62,500 | 108,629 | 18,105 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | Fee | NAP | NAP | NAP | NAP | 355,264 | 88,816 | 0 | Springing |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | Fee | NAP | NAP | NAP | NAP | 67,830 | 33,915 | 0 | Springing |
13.00 | Loan | 1 | 324 West 125th Street | Fee | NAP | NAP | NAP | NAP | 90,385 | 18,507 | 0 | Springing | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | Fee | NAP | NAP | NAP | NAP | 238,610 | 39,768 | 127,710 | 63,855 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | Fee | NAP | NAP | NAP | NAP | 73,693 | 35,092 | 21,875 | 6,944 |
16.00 | Loan | 1 | Escarlata 31 | Fee | NAP | NAP | NAP | NAP | 10,073 | 2,518 | 11,422 | 2,856 | |
17.00 | Loan | 1 | Dadeland West Office Park | Fee | NAP | NAP | NAP | NAP | 108,873 | 27,219 | 0 | Springing | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 84,874 | 11,168 | 7,983 | 2,218 | |||||
18.01 | Property | 1 | Henderson MHP | Fee | NAP | NAP | NAP | NAP | |||||
18.02 | Property | 1 | Whispering Pines Estates | Fee | NAP | NAP | NAP | NAP | |||||
18.03 | Property | 1 | Monson MHC | Fee | NAP | NAP | NAP | NAP | |||||
18.04 | Property | 1 | Everglades MHP | Fee | NAP | NAP | NAP | NAP | |||||
18.05 | Property | 1 | Royal Palm MHP | Fee | NAP | NAP | NAP | NAP | |||||
18.06 | Property | 1 | American MHP | Fee | NAP | NAP | NAP | NAP | |||||
18.07 | Property | 1 | NallCourt MHP | Fee | NAP | NAP | NAP | NAP | |||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | Fee | NAP | NAP | NAP | NAP | 139,130 | 66,253 | 37,141 | 17,686 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | Fee | NAP | NAP | NAP | NAP | 40,319 | 3,476 | 45,271 | Springing |
21.00 | Loan | 1 | Escarlata 29 | Fee | NAP | NAP | NAP | NAP | 8,183 | 2,046 | 14,183 | 3,546 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | Fee | NAP | NAP | NAP | NAP | 61,939 | 8,848 | 0 | Springing |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | Fee | NAP | NAP | NAP | NAP | 29,849 | 4,264 | 92,155 | 9,216 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | Fee | NAP | NAP | NAP | NAP | 46,804 | 5,851 | 6,030 | 2,010 |
25.00 | Loan | 55 | 1 | Concord Hills | Fee | NAP | NAP | NAP | NAP | 86,223 | 14,370 | 23,517 | 7,839 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | Fee | NAP | NAP | NAP | NAP | 50,568 | 10,993 | 0 | Springing |
27.00 | Loan | 1 | Mitchell Lofts | Fee | NAP | NAP | NAP | NAP | 129,543 | 25,909 | 22,386 | 5,596 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | Fee | NAP | NAP | NAP | NAP | 0 | 2,699 | 0 | 2,986 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Fee | NAP | NAP | NAP | NAP | 84,203 | 7,655 | 0 | Springing | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | Fee | NAP | NAP | NAP | NAP | 5,652 | 2,692 | 11,397 | 987 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | Fee | NAP | NAP | NAP | NAP | 85,057 | 12,151 | 31,045 | 6,899 |
32.00 | Loan | 1 | 605 East 16th Street | Fee | NAP | NAP | NAP | NAP | 0 | 9,762 | 0 | Springing |
A-1-13 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront Replacement / PIP Reserve ($) | Monthly Replacement / FF&E Reserve ($) | Replacement Reserve Caps ($) | Upfront TI/LC Reserve ($) | Monthly TI/LC Reserve ($) | TI/LC Caps ($) | Upfront Debt Service Reserve ($) | Monthly Debt Service Reserve ($) | Debt Service Reserve Cap ($) | Upfront Deferred Maintenance Reserve ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 0 | 10,019 | 360,684 | 0 | 100,192 | 0 | 0 | 0 | 0 | 0 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 117,616 | 19,625 | 824,116 | 0 | 0 | 0 | 0 | 0 | 0 | 108,000 | |
2.01 | Property | 1 | Miami Gardens Apartments | |||||||||||
2.02 | Property | 1 | Falls Of Braeburn | |||||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | |||||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 0 | Springing | 195,217 | 1,567,900 | 500,000 | 15,000,000 | 0 | 0 | 0 | 0 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 0 | 8,537 | 0 | 0 | 1,350 | 0 | 0 | 0 | 0 | 0 |
4.01 | Property | 1 | Lotus 315 | 0 | ||||||||||
4.02 | Property | 1 | Essence 144 | 0 | ||||||||||
5.00 | Loan | 1 | The Archive Apartments | 0 | 4,167 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 0 | 4,708 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
7.00 | Loan | 8 | ExchangeRight 67 | 53,005 | Springing | 166,032 | 500,000 | Springing | 0 | 0 | 0 | 0 | 39,705 | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | |||||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | |||||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | |||||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | |||||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | |||||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | |||||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | |||||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | |||||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 0 | 3,251 | 0 | 1,000,000 | 24,382 | 1,500,000 | 0 | 0 | 0 | 0 |
9.00 | Loan | 1 | Solon Park Apartments | 0 | 5,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 0 | 49,361 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 0 | 8,557 | 205,370 | 10,000,000 | 83,333 | 0 | 0 | 0 | 0 | 160,050 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 0 | 29,324 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
13.00 | Loan | 1 | 324 West 125th Street | 0 | 217 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 0 | 9,313 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 0 | 880 | 31,671 | 400,000 | Springing | 400,000 | 0 | 0 | 0 | 58,795 |
16.00 | Loan | 1 | Escarlata 31 | 0 | 1,971 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,500 | |
17.00 | Loan | 1 | Dadeland West Office Park | 0 | 3,146 | 0 | 450,000 | 4,626 | 0 | 0 | 0 | 0 | 0 | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 0 | 1,379 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 190,069 |
18.01 | Property | 1 | Henderson MHP | |||||||||||
18.02 | Property | 1 | Whispering Pines Estates | |||||||||||
18.03 | Property | 1 | Monson MHC | |||||||||||
18.04 | Property | 1 | Everglades MHP | |||||||||||
18.05 | Property | 1 | Royal Palm MHP | |||||||||||
18.06 | Property | 1 | American MHP | |||||||||||
18.07 | Property | 1 | NallCourt MHP | |||||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 1,000,000 | 15,375 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28,750 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 0 | 734 | 0 | 0 | 6,787 | 0 | 0 | 0 | 0 | 0 |
21.00 | Loan | 1 | Escarlata 29 | 0 | 1,955 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25,125 | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 0 | 16,539 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 0 | 14,417 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 0 | 289 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,875 |
25.00 | Loan | 55 | 1 | Concord Hills | 730,000 | 4,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20,000 |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 0 | 985 | 0 | 0 | 4,924 | 0 | 0 | 0 | 0 | 0 |
27.00 | Loan | 1 | Mitchell Lofts | 0 | 1,646 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,550 | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 0 | Springing | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 2,500 |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 0 | 1,117 | 0 | 315,000 | Springing | 0 | 0 | 0 | 0 | 54,227 | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 0 | 424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,438 | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 0 | 1,750 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 380,490 |
32.00 | Loan | 1 | 605 East 16th Street | 0 | 708 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
A-1-14 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront Other Reserve ($) | Monthly Other Reserve ($) | Other Reserve Description |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 12,861,020 | 0 | Rent Concession Reserve Funds ($4,020,411); Existing TI/LC Reserve Funds ($8,840,609); Western Midstream Termination Reserve Funds (Springing) |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 0 | 41,667 | Additional Capital Expenditure Reserve | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||
2.02 | Property | 1 | Falls Of Braeburn | ||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 1,648,112 | 0 | Free Rent Reserve |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 225,000 | 0 | Free Rent Reserve ($141,750), Gap Rent Reserve ($83,250) |
4.01 | Property | 1 | Lotus 315 | ||||
4.02 | Property | 1 | Essence 144 | ||||
5.00 | Loan | 1 | The Archive Apartments | 0 | 0 | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 0 | 66,000 | Ground Rent Reserve |
7.00 | Loan | 8 | ExchangeRight 67 | 0 | 0 | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 135,000 | 0 | NY Real Estate Institute Reserve ($108,000); Unfunded Obligations Reserve ($27,000) |
9.00 | Loan | 1 | Solon Park Apartments | 0 | 0 | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 0 | Springing | PIP Reserve |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 3,138,645 | 0 | Rent Concession Reserve Funds ($1,023,389.00); Existing TI/LC Reserve Funds ($2,115,256.38); Low DSCR Trigger Event Reserve (Springing) |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 7,500 | 0 | Replacement Comfort Letter Reserve ($7,500); Low DSCR Reserve (Springing) |
13.00 | Loan | 1 | 324 West 125th Street | 0 | 0 | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 0 | 0 | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 0 | 0 | NAP |
16.00 | Loan | 1 | Escarlata 31 | 0 | 0 | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | 0 | 0 | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 0 | 0 | NAP |
18.01 | Property | 1 | Henderson MHP | ||||
18.02 | Property | 1 | Whispering Pines Estates | ||||
18.03 | Property | 1 | Monson MHC | ||||
18.04 | Property | 1 | Everglades MHP | ||||
18.05 | Property | 1 | Royal Palm MHP | ||||
18.06 | Property | 1 | American MHP | ||||
18.07 | Property | 1 | NallCourt MHP | ||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 0 | 0 | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 1,131,817 | 0 | Unfunded Obligations Reserve ($1,116,127.00); Rent Concession Reserve ($15,690.00) |
21.00 | Loan | 1 | Escarlata 29 | 0 | 0 | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 981,508 | 0 | Soft Goods Renovation Deposit |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 1,000,000 | 3,604 | PIP Reserve |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 65,000 | 0 | Virago By Chef Yala Reserve |
25.00 | Loan | 55 | 1 | Concord Hills | 0 | 0 | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 1,556,250 | Springing | Unfunded Obligations Reserve ($1,556,250.00); Material Tenant Reserve (Springing) |
27.00 | Loan | 1 | Mitchell Lofts | 0 | 0 | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 248,176 | Various | Unfunded Obligations Reserve ($248,176); Material Tenant Reserve (Various) |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 186,983 | 0 | Unfunded Obligations Reserve($109,320); Free Rent Reserve ($77,663) | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 0 | 0 | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 0 | 0 | NAP |
32.00 | Loan | 1 | 605 East 16th Street | 0 | 0 | NAP |
A-1-15 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Cap ($) | Holdback/ Earnout Amount ($) | Holdback/ Earnout Description |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 0 | 0 | NAP |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 0 | 0 | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||
2.02 | Property | 1 | Falls Of Braeburn | ||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 0 | 0 | NAP |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 0 | 1,000,000 | The borrowers shall deposit into an eligible account upon loan origination. The lender must disburse upon (i) no Event of Default has occurred and is continuing and (ii) Lender has received evidence, in form and substance reasonably satisfactory to Lender |
4.01 | Property | 1 | Lotus 315 | ||||
4.02 | Property | 1 | Essence 144 | ||||
5.00 | Loan | 1 | The Archive Apartments | 0 | 0 | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 132,000 | 0 | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | 0 | 0 | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 0 | 0 | NAP |
9.00 | Loan | 1 | Solon Park Apartments | 0 | 0 | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 0 | 0 | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 0 | 0 | NAP |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 0 | 0 | NAP |
13.00 | Loan | 1 | 324 West 125th Street | 0 | 0 | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 0 | 0 | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 0 | 0 | NAP |
16.00 | Loan | 1 | Escarlata 31 | 0 | 0 | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | 0 | 0 | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | 0 | 0 | NAP |
18.01 | Property | 1 | Henderson MHP | ||||
18.02 | Property | 1 | Whispering Pines Estates | ||||
18.03 | Property | 1 | Monson MHC | ||||
18.04 | Property | 1 | Everglades MHP | ||||
18.05 | Property | 1 | Royal Palm MHP | ||||
18.06 | Property | 1 | American MHP | ||||
18.07 | Property | 1 | NallCourt MHP | ||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 0 | 0 | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | 0 | 0 | NAP |
21.00 | Loan | 1 | Escarlata 29 | 0 | 0 | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 0 | 0 | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 0 | 0 | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | 0 | 0 | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | 0 | 0 | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | 0 | 0 | NAP |
27.00 | Loan | 1 | Mitchell Lofts | 0 | 0 | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | 0 | 0 | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | 0 | 0 | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | 0 | 0 | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | 0 | 0 | NAP |
32.00 | Loan | 1 | 605 East 16th Street | 0 | 0 | NAP |
A-1-16 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Lockbox Type | Cash Management | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Tenant Specific Excess Cash Trap Trigger (Y/N) | Pari Passu (Y/N) | Pari Passu in Trust Controlling (Y/N) | Trust Pari Passu Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | Hard | Springing | Yes | Yes | Yes | Yes | 73,000,000 | 57,000,000 |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | Soft | Springing | Yes | No | No | NAP | NAP | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | |||||||||
2.02 | Property | 1 | Falls Of Braeburn | |||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | |||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | Hard | In Place | Yes | Yes | Yes | No | 50,400,000 | 249,600,000 |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | Springing | Springing | Yes | No | Yes | Yes | 50,000,000 | 36,100,000 |
4.01 | Property | 1 | Lotus 315 | |||||||||
4.02 | Property | 1 | Essence 144 | |||||||||
5.00 | Loan | 1 | The Archive Apartments | Soft | Springing | Yes | No | No | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | Soft | Springing | Yes | No | No | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | Hard | Springing | Yes | No | No | NAP | NAP | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | |||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | |||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | |||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | |||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | |||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | |||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | |||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | |||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | Hard | Springing | Yes | Yes | No | NAP | NAP | NAP |
9.00 | Loan | 1 | Solon Park Apartments | Springing | Springing | Yes | No | No | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | Hard | Springing | Yes | No | No | NAP | NAP | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | Hard | In Place | Yes | Yes | Yes | No | 25,000,000 | 110,000,000 |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | Springing | Springing | Yes | No | No | NAP | NAP | NAP |
13.00 | Loan | 1 | 324 West 125th Street | Soft | Springing | No | Yes | No | NAP | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | Springing | Springing | No | No | Yes | Yes | 22,500,000 | 10,000,000 |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | Springing | Springing | Yes | No | No | NAP | NAP | NAP |
16.00 | Loan | 1 | Escarlata 31 | Springing | Springing | Yes | No | No | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | Hard | Springing | Yes | No | No | NAP | NAP | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | Springing | Springing | Yes | No | No | No | NAP | NAP |
18.01 | Property | 1 | Henderson MHP | |||||||||
18.02 | Property | 1 | Whispering Pines Estates | |||||||||
18.03 | Property | 1 | Monson MHC | |||||||||
18.04 | Property | 1 | Everglades MHP | |||||||||
18.05 | Property | 1 | Royal Palm MHP | |||||||||
18.06 | Property | 1 | American MHP | |||||||||
18.07 | Property | 1 | NallCourt MHP | |||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | Springing | Springing | Yes | No | Yes | Yes | 13,000,000 | 40,000,000 |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | Hard | Springing | Yes | No | No | NAP | NAP | NAP |
21.00 | Loan | 1 | Escarlata 29 | Springing | Springing | Yes | No | No | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | Springing | Springing | No | No | No | NAP | NAP | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | Springing | Springing | Yes | No | No | NAP | NAP | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | Springing | Springing | Yes | Yes | No | NAP | NAP | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | Springing | Springing | Yes | No | No | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | Hard | Springing | Yes | Yes | No | NAP | NAP | NAP |
27.00 | Loan | 1 | Mitchell Lofts | Springing | Springing | Yes | No | No | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | Hard | Springing | Yes | No | No | NAP | NAP | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Hard | Springing | Yes | Yes | No | NAP | NAP | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | Springing | Springing | Yes | No | No | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | Soft | Springing | Yes | No | No | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | Springing | Springing | Yes | No | No | NAP | NAP | NAP |
A-1-17 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Subordinate Companion Loan Cut-off Date Balance ($) | Subordinate Companion Loan Interest Rate | Whole Loan Cut-off Date Balance ($) | Whole Loan Monthly Debt Service ($) | Whole Loan Cut-off Date LTV Ratio (%) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 382,097.83 | 871,451.19 | NAP | NAP | 130,000,000 | 871,451.19 | 56.2% |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||||||
2.02 | Property | 1 | Falls Of Braeburn | ||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 1,646,284.39 | 1,978,707.20 | NAP | NAP | 300,000,000 | 1,978,707.20 | 41.7% |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 195,817.43 | 467,032.71 | NAP | NAP | 86,100,000 | 467,032.71 | 69.6% |
4.01 | Property | 1 | Lotus 315 | ||||||||
4.02 | Property | 1 | Essence 144 | ||||||||
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 664,984.38 | 816,117.19 | NAP | NAP | 135,000,000 | 816,117.19 | 58.8% |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13.00 | Loan | 1 | 324 West 125th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 62,438.66 | 202,925.64 | NAP | NAP | 32,500,000 | 202,925.64 | 33.2% |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
18.01 | Property | 1 | Henderson MHP | ||||||||
18.02 | Property | 1 | Whispering Pines Estates | ||||||||
18.03 | Property | 1 | Monson MHC | ||||||||
18.04 | Property | 1 | Everglades MHP | ||||||||
18.05 | Property | 1 | Royal Palm MHP | ||||||||
18.06 | Property | 1 | American MHP | ||||||||
18.07 | Property | 1 | NallCourt MHP | ||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 238,601.85 | 316,147.45 | NAP | NAP | 53,000,000 | 316,147.45 | 68.8% |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-18 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Whole Loan Underwritten NCF DSCR (x) | Whole Loan Underwritten NOI Debt Yield (%) | Mezzanine Debt Cut-off Date Balance($) | Mezzanine Debt Interest Rate (%) | Total Debt Cut-off Date Balance ($) | Total Debt Monthly Debt Service ($) | Total Debt Cut-off Date LTV Ratio (%) | Total Debt Underwritten NCF DSCR (x) | Total Debt Underwritten NOI Debt Yield (%) | Future Additional Debt Permitted (Y/N) | Future Debt Permitted Type |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 1.50 | 13.1% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||||||||||
2.02 | Property | 1 | Falls Of Braeburn | ||||||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 2.04 | 18.7% | 100,000,000 | 11.50000% | 400,000,000 | 3,088,423.66 | 55.6% | 1.31 | 14.0% | No | NAP |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 1.23 | 8.1% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
4.01 | Property | 1 | Lotus 315 | ||||||||||||
4.02 | Property | 1 | Essence 144 | ||||||||||||
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 1.40 | 10.2% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Mezzanine |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
13.00 | Loan | 1 | 324 West 125th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 2.14 | 16.4% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
18.01 | Property | 1 | Henderson MHP | ||||||||||||
18.02 | Property | 1 | Whispering Pines Estates | ||||||||||||
18.03 | Property | 1 | Monson MHC | ||||||||||||
18.04 | Property | 1 | Everglades MHP | ||||||||||||
18.05 | Property | 1 | Royal Palm MHP | ||||||||||||
18.06 | Property | 1 | American MHP | ||||||||||||
18.07 | Property | 1 | NallCourt MHP | ||||||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | 1.64 | 12.1% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Mezzanine |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
A-1-19 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sponsor | Non-Recourse Carveout Guarantor | Delaware Statutory Trust (Y/N) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | The Woodlands Land Development Company, L.P. | The Woodlands Land Development Company, L.P. | No |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | Rao J. Polavarapu | Rao J. Polavarapu | No | |
2.01 | Property | 1 | Miami Gardens Apartments | ||||
2.02 | Property | 1 | Falls Of Braeburn | ||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | Vornado Realty Trust | Manhattan High Street Holdings LP | No |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | Syed A. Hasan and Ayesha Wahidy | Syed A. Hasan and Ayesha Wahidy | No |
4.01 | Property | 1 | Lotus 315 | ||||
4.02 | Property | 1 | Essence 144 | ||||
5.00 | Loan | 1 | The Archive Apartments | Robert T. Miller, Curt L. Gunsbury and Robert T. Miller Revocable Trust | Robert T. Miller, Curt L. Gunsbury and Robert T. Miller Revocable Trust | No | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | David Y. Lee | David Y. Lee | No |
7.00 | Loan | 8 | ExchangeRight 67 | David Fisher, Joshua Ungerecht and Warren Thomas | David Fisher, Joshua Ungerecht and Warren Thomas | Yes | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | Steven Kaufman | Steven Kaufman | No |
9.00 | Loan | 1 | Solon Park Apartments | Lance F. Osborne | Lance F. Osborne | No | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | CSC Holdings, LLC | CSC Holdings, LLC | No |
11.00 | Loan | 27, 28 | 1 | Cummins Station | Zachary P. Liff | Zachary P. Liff | No |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | Chatham Lodging, L.P. | Chatham Lodging, L.P. | No |
13.00 | Loan | 1 | 324 West 125th Street | Jeff Sutton, Riki Roth, Pauline Harari and Nissim Kafif | Jeff Sutton, Riki Roth, Pauline Harari and Nissim Kafif | No | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | Laisin Leung and David Leung | Laisin Leung and David Leung | No |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | Joyce Jangana Reiss, Jenny Haim and Jack Jangana | Joyce Jangana Reiss, Jenny Haim and Jack Jangana | No |
16.00 | Loan | 1 | Escarlata 31 | Mark Petz, Jodi Petz and Syed Shahim | Mark Petz, Jodi Petz and Syed Shahim | No | |
17.00 | Loan | 1 | Dadeland West Office Park | Elizabeth A. Green | Elizabeth A. Green | No | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | Jonathan Wyss, Abigail Wyss and Austin Berk | Jonathan Wyss, Abigail Wyss and Austin Berk | No |
18.01 | Property | 1 | Henderson MHP | ||||
18.02 | Property | 1 | Whispering Pines Estates | ||||
18.03 | Property | 1 | Monson MHC | ||||
18.04 | Property | 1 | Everglades MHP | ||||
18.05 | Property | 1 | Royal Palm MHP | ||||
18.06 | Property | 1 | American MHP | ||||
18.07 | Property | 1 | NallCourt MHP | ||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | MD Khaled Noor | MD Khaled Noor | No |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | Dawid B. Swart | Dawid B. Swart | No |
21.00 | Loan | 1 | Escarlata 29 | Mark Petz, Jodi Petz and Syed Shahim | Mark Petz, Jodi Petz and Syed Shahim | No | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | HDT Cameron Hotels, Ltd. and Carol Cohen Family LLC | HDT Cameron Hotels, Ltd. and Carol Cohen Family LLC | No |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | Jayantkumar B. Patel and Reshma S. Patel | Jayantkumar B. Patel and Reshma S. Patel | No |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | Edward Ostad | Edward Ostad | No |
25.00 | Loan | 55 | 1 | Concord Hills | Moshe Bloorian, Jacob Herskowitz and Yeshaya Cohen | Moshe Bloorian, Jacob Herskowitz and Yeshaya Cohen | No |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | Daniel Khoren Akarakian | Daniel Khoren Akarakian | No |
27.00 | Loan | 1 | Mitchell Lofts | Noah Drever | Noah Drever | No | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | William B. Baner and The William B. Baner Trust | William B. Baner and The William B. Baner Trust | No |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Alexander E. Peykar, Steven V. Peykar and Brian Miller | Alexander E. Peykar, Steven V. Peykar and Brian Miller | No | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | Dean G. Alexis, Cynthia J. Alexis and The Dean G. Alexis and Cynthia J. Alexis Trust | Dean G. Alexis, Cynthia J. Alexis and The Dean G. Alexis and Cynthia J. Alexis Trust | No | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | Bradley J. Hayosh | Bradley J. Hayosh | No |
32.00 | Loan | 1 | 605 East 16th Street | Barry Rudofsky and Scott Silverman | Barry Rudofsky and Scott Silverman | No |
A-1-20 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Tenants-in-common (Y/N) | Loan Purpose | Property Located Within a Qualified Opportunity Zone (Y/N) | Sources: Loan Amount ($) | Sources: Principal's New Cash Contribution ($) | Sources: Subordinate Debt ($) | Sources: Other Sources ($) | Sources: Total Sources ($) | Uses: Loan Payoff ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | No | Refinance | 130,000,000 | 6,865,528 | 0 | 0 | 136,865,528 | 120,907,122 | |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | No | Refinance | 64,500,000 | 77,934 | 0 | 0 | 64,577,934 | 60,978,061 | ||
2.01 | Property | 1 | Miami Gardens Apartments | ||||||||||
2.02 | Property | 1 | Falls Of Braeburn | ||||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | ||||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | No | Refinance | 300,000,000 | 106,245,190 | 100,000,000 | 0 | 506,245,190 | 501,608,063 | |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | No | Refinance | 86,100,000 | 0 | 0 | 0 | 86,100,000 | 78,827,137 | |
4.01 | Property | 1 | Lotus 315 | ||||||||||
4.02 | Property | 1 | Essence 144 | ||||||||||
5.00 | Loan | 1 | The Archive Apartments | No | Refinance | 47,850,000 | 0 | 0 | 0 | 47,850,000 | 45,147,348 | ||
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | No | Refinance | 45,500,000 | 88,191 | 0 | 0 | 45,588,191 | 43,302,508 | |
7.00 | Loan | 8 | ExchangeRight 67 | No | Acquisition | 33,522,953.00 | 39,755,909 | 0 | 0 | 73,278,862 | 0 | ||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | ||||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | ||||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | ||||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | ||||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | ||||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | ||||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | ||||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | ||||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | No | Refinance | 32,250,000 | 2,740,046 | 0 | 0 | 34,990,046 | 31,506,855 | |
9.00 | Loan | 1 | Solon Park Apartments | No | Refinance | 28,000,000 | 0 | 0 | 0 | 28,000,000 | 25,150,402 | ||
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | No | Refinance | 27,000,000 | 0 | 0 | 0 | 27,000,000 | 23,008,034 | |
11.00 | Loan | 27, 28 | 1 | Cummins Station | No | Refinance | 135,000,000 | 649,890 | 0 | 0 | 135,649,890 | 117,462,455 | |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | No | Recapitalization | 23,300,000 | 0 | 0 | 0 | 23,300,000 | 0 | |
13.00 | Loan | 1 | 324 West 125th Street | No | Refinance | 23,000,000 | 1,555,966 | 0 | 0 | 24,555,966 | 22,979,935 | ||
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | No | Refinance | 32,500,000 | 0 | 0 | 0 | 32,500,000 | 23,205,503 | |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | No | Refinance | 22,000,000 | 487,774 | 0 | 0 | 22,487,774 | 20,847,309 | |
16.00 | Loan | 1 | Escarlata 31 | No | Refinance | ||||||||
17.00 | Loan | 1 | Dadeland West Office Park | No | Refinance | ||||||||
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | No | Refinance | |||||||
18.01 | Property | 1 | Henderson MHP | ||||||||||
18.02 | Property | 1 | Whispering Pines Estates | ||||||||||
18.03 | Property | 1 | Monson MHC | ||||||||||
18.04 | Property | 1 | Everglades MHP | ||||||||||
18.05 | Property | 1 | Royal Palm MHP | ||||||||||
18.06 | Property | 1 | American MHP | ||||||||||
18.07 | Property | 1 | NallCourt MHP | ||||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | No | Refinance | |||||||
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | No | Refinance | |||||||
21.00 | Loan | 1 | Escarlata 29 | No | Refinance | ||||||||
22.00 | Loan | 48 | 1 | Home2Suites Florence | No | Refinance | |||||||
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | No | Refinance | |||||||
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | No | Refinance | |||||||
25.00 | Loan | 55 | 1 | Concord Hills | Yes | Acquisition | |||||||
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | No | Refinance | |||||||
27.00 | Loan | 1 | Mitchell Lofts | No | Refinance | ||||||||
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | No | Refinance | |||||||
29.00 | Loan | 1 | 400 & 420 Technology Parkway | Yes | Acquisition | ||||||||
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | No | Refinance | ||||||||
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | No | Refinance | |||||||
32.00 | Loan | 1 | 605 East 16th Street | No | Refinance |
A-1-21 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Uses: Purchase Price ($) | Uses: Closing Costs ($) | Uses: Reserves ($) | Uses: Principal Equity Distribution ($) | Uses: Other Uses ($) | Uses: Total Uses ($) | Franchise Agreement Expiration | Underwritten ADR ($) | Underwritten RevPAR ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | 0 | 1,788,222 | 14,170,184 | 0 | 0 | 136,865,528 | NAP | NAP | NAP |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | 0 | 2,477,335 | 1,122,538 | 0 | 0 | 64,577,934 | NAP | NAP | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | NAP | NAP | NAP | |||||||
2.02 | Property | 1 | Falls Of Braeburn | NAP | NAP | NAP | |||||||
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | NAP | NAP | |||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | 0 | 1,421,115 | 3,216,012 | 0 | 0 | 506,245,190 | NAP | NAP | NAP |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | 0 | 4,010,102 | 1,379,767 | 1,882,994 | 0 | 86,100,000 | NAP | NAP | NAP |
4.01 | Property | 1 | Lotus 315 | NAP | NAP | NAP | |||||||
4.02 | Property | 1 | Essence 144 | NAP | NAP | NAP | |||||||
5.00 | Loan | 1 | The Archive Apartments | 0 | 1,774,935 | 351,022 | 576,695 | 0 | 47,850,000 | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | 0 | 1,893,251 | 392,431 | 0 | 0 | 45,588,191 | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | 71,227,329 | 1,292,826 | 758,708 | 0 | 0 | 73,278,862 | NAP | NAP | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | NAP | NAP | |||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | NAP | NAP | |||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | NAP | NAP | |||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | NAP | NAP | |||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | NAP | NAP | |||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | NAP | NAP | |||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | NAP | NAP | |||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | NAP | NAP | |||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | 0 | 2,064,594 | 1,418,596 | 0 | 0 | 34,990,046 | NAP | NAP | NAP |
9.00 | Loan | 1 | Solon Park Apartments | 0 | 1,549,481 | 195,780 | 1,104,337 | 0 | 28,000,000 | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 0 | 271,721 | 896,129 | 2,824,116 | 0 | 27,000,000 | 7/16/2039 | $170.57 | $96.00 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | 0 | 4,533,475 | 13,653,959 | 0 | 0 | 135,649,890 | NAP | NAP | NAP |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 0 | 424,540 | 75,330 | 22,800,130 | 0 | 23,300,000 | 7/17/2033 | $188.97 | $122.52 |
13.00 | Loan | 1 | 324 West 125th Street | 0 | 1,485,646 | 90,385 | 0 | 0 | 24,555,966 | NAP | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | 0 | 436,572 | 366,320 | 8,491,604 | 0 | 32,500,000 | NAP | NAP | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | 0 | 1,086,103 | 554,362 | 0 | 0 | 22,487,774 | NAP | NAP | NAP |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | |||||||
17.00 | Loan | 1 | Dadeland West Office Park | NAP | NAP | NAP | |||||||
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAP | NAP | NAP | ||||||
18.01 | Property | 1 | Henderson MHP | NAP | NAP | NAP | |||||||
18.02 | Property | 1 | Whispering Pines Estates | NAP | NAP | NAP | |||||||
18.03 | Property | 1 | Monson MHC | NAP | NAP | NAP | |||||||
18.04 | Property | 1 | Everglades MHP | NAP | NAP | NAP | |||||||
18.05 | Property | 1 | Royal Palm MHP | NAP | NAP | NAP | |||||||
18.06 | Property | 1 | American MHP | NAP | NAP | NAP | |||||||
18.07 | Property | 1 | NallCourt MHP | NAP | NAP | NAP | |||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | NAP | NAP | ||||||
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAP | NAP | NAP | ||||||
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | |||||||
22.00 | Loan | 48 | 1 | Home2Suites Florence | 2/28/2038 | $136.77 | $123.51 | ||||||
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 9/8/2029 | $138.95 | $110.81 | ||||||
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | NAP | NAP | ||||||
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | ||||||
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | NAP | NAP | ||||||
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | |||||||
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | NAP | NAP | ||||||
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | NAP | NAP | |||||||
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | |||||||
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | ||||||
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP |
A-1-22 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten Hotel Occupancy (%) | Most Recent ADR ($) | Most Recent RevPAR ($) | Most Recent Hotel Occupancy (%) | Second Most Recent ADR ($) | Second Most Recent RevPAR ($) | Second Most Recent Hotel Occupancy (%) | Third Most Recent ADR ($) | Third Most Recent RevPAR ($) |
1.00 | Loan | 5 | 1 | 9950 Woodloch | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.01 | Property | 1 | Miami Gardens Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.02 | Property | 1 | Falls Of Braeburn | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
4.01 | Property | 1 | Lotus 315 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4.02 | Property | 1 | Essence 144 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
5.00 | Loan | 1 | The Archive Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
7.00 | Loan | 8 | ExchangeRight 67 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
9.00 | Loan | 1 | Solon Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 56.3% | $170.57 | $96.00 | 56.3% | $169.81 | $94.22 | 55.5% | $154.63 | $74.63 |
11.00 | Loan | 27, 28 | 1 | Cummins Station | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 64.8% | $188.97 | $122.52 | 64.8% | $192.57 | $120.90 | 62.8% | $183.38 | $116.91 |
13.00 | Loan | 1 | 324 West 125th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
16.00 | Loan | 1 | Escarlata 31 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.00 | Loan | 1 | Dadeland West Office Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
18.01 | Property | 1 | Henderson MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.02 | Property | 1 | Whispering Pines Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.03 | Property | 1 | Monson MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.04 | Property | 1 | Everglades MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.05 | Property | 1 | Royal Palm MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.06 | Property | 1 | American MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18.07 | Property | 1 | NallCourt MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21.00 | Loan | 1 | Escarlata 29 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
22.00 | Loan | 48 | 1 | Home2Suites Florence | 90.3% | $136.77 | $123.51 | 90.3% | $136.83 | $126.63 | 92.5% | $135.98 | $125.76 |
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 79.7% | $138.95 | $110.81 | 79.7% | $139.33 | $112.29 | 80.6% | $137.54 | $115.22 |
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25.00 | Loan | 55 | 1 | Concord Hills | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
27.00 | Loan | 1 | Mitchell Lofts | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
32.00 | Loan | 1 | 605 East 16th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-23 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Most Recent Hotel Occupancy (%) | Coop - Committed Secondary Debt | Coop - Rental Value | Coop - LTV as Rental | Coop - Unsold Percent | Coop - Sponsor Units | Coop - Investor Units | Coop - Coop Units | Coop - Sponsor/ Investor Carry |
1.00 | Loan | 5 | 1 | 9950 Woodloch | NAP | ||||||||
2.00 | Loan | 3 | Falls Houston Multifamily Portfolio | NAP | |||||||||
2.01 | Property | 1 | Miami Gardens Apartments | NAP | |||||||||
2.02 | Property | 1 | Falls Of Braeburn | NAP | |||||||||
2.03 | Property | 1 | Chelsea Lane Apartments | NAP | |||||||||
3.00 | Loan | 6, 7, 8, 9, 10, 11, 12, 13, 14 | 1 | 640 5th Avenue | NAP | ||||||||
4.00 | Loan | 15, 16, 17, 18, 19, 20 | 2 | Lotus 315 & Essence 144 | NAP | ||||||||
4.01 | Property | 1 | Lotus 315 | NAP | |||||||||
4.02 | Property | 1 | Essence 144 | NAP | |||||||||
5.00 | Loan | 1 | The Archive Apartments | NAP | |||||||||
6.00 | Loan | 21, 22, 23 | 1 | 3060 Olympic | NAP | ||||||||
7.00 | Loan | 8 | ExchangeRight 67 | NAP | |||||||||
7.01 | Property | 1 | FedEx Ground – Moselle, MS | NAP | |||||||||
7.02 | Property | 1 | Metro Market (Grocery) – Mukwonago, WI | NAP | |||||||||
7.03 | Property | 1 | BJC Health Care – Godfrey, IL | NAP | |||||||||
7.04 | Property | 1 | Tractor Supply – New Richmond, WI | NAP | |||||||||
7.05 | Property | 1 | Tractor Supply – Canal Fulton, OH | NAP | |||||||||
7.06 | Property | 1 | Bank of America – Mount Prospect, IL | NAP | |||||||||
7.07 | Property | 1 | Family Dollar / Dollar Tree Combo – Roswell, NM | NAP | |||||||||
7.08 | Property | 1 | Dollar Tree – Gulfport, MS | NAP | |||||||||
8.00 | Loan | 24, 25 | 1 | 132 West 36th Street | NAP | ||||||||
9.00 | Loan | 1 | Solon Park Apartments | NAP | |||||||||
10.00 | Loan | 26 | 1 | Marriott Hartford Windsor Airport | 48.3% | ||||||||
11.00 | Loan | 27, 28 | 1 | Cummins Station | NAP | ||||||||
12.00 | Loan | 29, 30 | 1 | Hyatt Place Pittsburgh North Shore | 63.8% | ||||||||
13.00 | Loan | 1 | 324 West 125th Street | NAP | |||||||||
14.00 | Loan | 31, 32, 33 | 1 | Park Parthenia | NAP | ||||||||
15.00 | Loan | 34, 35, 36, 37, 38 | 1 | 57-63 Orchard Street | NAP | ||||||||
16.00 | Loan | 1 | Escarlata 31 | NAP | |||||||||
17.00 | Loan | 1 | Dadeland West Office Park | NAP | |||||||||
18.00 | Loan | 39, 40, 41 | 7 | Baker MHC Portfolio | NAP | ||||||||
18.01 | Property | 1 | Henderson MHP | NAP | |||||||||
18.02 | Property | 1 | Whispering Pines Estates | NAP | |||||||||
18.03 | Property | 1 | Monson MHC | NAP | |||||||||
18.04 | Property | 1 | Everglades MHP | NAP | |||||||||
18.05 | Property | 1 | Royal Palm MHP | NAP | |||||||||
18.06 | Property | 1 | American MHP | NAP | |||||||||
18.07 | Property | 1 | NallCourt MHP | NAP | |||||||||
19.00 | Loan | 42, 43 | 1 | Euclid Apartments | NAP | ||||||||
20.00 | Loan | 44, 45, 46, 47 | 1 | 3216 South Blvd | NAP | ||||||||
21.00 | Loan | 1 | Escarlata 29 | NAP | |||||||||
22.00 | Loan | 48 | 1 | Home2Suites Florence | 92.5% | ||||||||
23.00 | Loan | 49, 50, 51 | 1 | Holiday Inn Hammond | 83.8% | ||||||||
24.00 | Loan | 52, 53, 54 | 1 | 817-819 9th Avenue | NAP | ||||||||
25.00 | Loan | 55 | 1 | Concord Hills | NAP | ||||||||
26.00 | Loan | 56, 57, 58, 59, 60 | 1 | 5635 E La Palma | NAP | ||||||||
27.00 | Loan | 1 | Mitchell Lofts | NAP | |||||||||
28.00 | Loan | 61, 62, 63, 64, 65, 66, 67 | 1 | 220 Jackson Street | NAP | ||||||||
29.00 | Loan | 1 | 400 & 420 Technology Parkway | NAP | |||||||||
30.00 | Loan | 1 | Extra Space Self Storage Baca Lane | NAP | |||||||||
31.00 | Loan | 68 | 1 | Plymouth Park Apartments | NAP | ||||||||
32.00 | Loan | 1 | 605 East 16th Street | NAP |
A-1-24 |
FOOTNOTES TO ANNEX A-1
See “Annex A-3: Summaries of the Fifteen Largest Mortgage Loans” in the prospectus for additional information on the 15 largest mortgage loans. | |
(1) | “WFB” denotes Wells Fargo Bank, National Association, “AREF2” denotes Argentic Real Estate Finance 2 LLC, "CREFI" denotes Citi Real Estate Funding Inc., “LMF” denotes LMF Commercial, LLC, “GSBI” denotes Goldman Sachs Bank USA, “UBS AG” denotes UBS AG by and through its branch office at 1285 Avenue of the Americas, New York, New York and “BSPRT” denotes BSPRT CMBS Finance, LLC. |
(2) | The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan. |
(3) | Certain tenants may not be in occupancy or may be in free rent periods. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in this prospectus for information regarding (i) single tenant properties, (ii) the largest 5 tenants with respect to the largest 15 Mortgage Loans or groups of cross-collateralized Mortgage Loans and (iii) tenants that individually or together with their affiliates occupy 50% or more of the net rentable area of related Mortgaged Properties, which, in each case, are not in occupancy or are in free rent periods. |
(4) | Certain tenants may have lease termination options that are exercisable prior to the originally stated expiration date of the subject lease. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Terminations” in this prospectus for information regarding certain lease termination options affecting (i) single tenant properties, (ii) the largest 5 tenants with respect to the largest 15 Mortgage Loans or groups of cross-collateralized Mortgage Loans and (iii) tenants that occupy 50% or more of the net rentable area of the related Mortgaged Properties. |
(5) | With respect to Mortgage Loan No. 1 (9950 Woodloch), the second largest tenant (The Woodlands Land Development, 57,329 square feet), representing 9.5% of net rentable square feet, is owned by an affiliate of the borrower. |
(6) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA, Bank of Montreal and Morgan Stanley Bank, N.A. |
(7) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%), and Loan Per Unit ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate and exclude any mezzanine debt and, in the case of any loans structured with A/B Notes, the secured subordinate debt. |
(8) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the 640 5th Avenue Whole Loan and the 640 5th Avenue Mezzanine Loan each have fixed amortization for their entire 60-month loan terms. With respect to the 640 5th Avenue Whole Loan, the borrower is required to make payments on each monthly payment date, as follows: (x) principal in the amount of $437,500 and (y) the monthly interest payment. With respect to the 640 5th Avenue Mezzanine Loan, the mezzanine borrower is required to make payments on each monthly payment date as follows: (x) principal in the amount of approximately $145,833 and (y) the monthly interest payment. |
A-1-25 |
(9) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the lockout period for prepayment of the 640 5th Avenue Whole Loan will be at least 24 months beginning with and including the first payment date on August 1, 2024; provided that partial prepayment to resize the 640 5th Avenue Whole Loan to satisfy certain debt yield requirements are permitted during the whole loan term with the payment of the applicable yield maintenance. Defeasance of the 640 5th Avenue Whole Loan, in whole (but not in part), is permitted after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) August 1, 2027. The assumed defeasance lockout period of 24 payments is based on the expected WFCM 2024-5C1 securitization closing date in July 2024. The actual lockout period may be longer. |
(10) | With respect to Mortgage Loan No. 3 (640 5th Avenue), a prior owner of the mortgaged property ground leased the mortgaged property to the owner of the property located at 650 5th Avenue (the “Air Rights Tenant”), who subleased the mortgaged property (other than other than development rights relating to the West 52nd Street building, which was retained by the Air Rights Tenant) back to such prior owner of the mortgaged property, solely for the purpose of satisfying certain zoning requirements in connection with the transfer of such development rights to the Air Rights Tenant. |
(11) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the Third Largest Tenant, The Klein Group, LLC, has a two-time right to terminate its lease, effective either December 31, 2027 or December 31, 2029, subject to, among other things, providing notice to the borrower no later than one year before the effective date of each such termination right, satisfaction of certain minimum occupancy and demise requirements under the lease, no event of default has occurred and is continuing under the lease and the payment of a termination fee. Additionally, the Fifth Largest Tenant, Buchanan Ingersoll & Rooney, has a one-time right to terminate its lease, effective January 2, 2026, subject to providing notice to the borrower no later than November 8, 2024 and the payment of a termination fee. |
(12) | With respect to Mortgage Loan No. 3 (640 5th Avenue), during a trigger period, the borrower is required to deposit into a reserve for capital expenditures, on a monthly basis, approximately $8,134 for the payment or reimbursement of approved capital expenses. Such monthly deposits will not be required during such time that the balance of the capital expense reserve exceeds approximately $195,217. |
(13) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the non-recourse carveout guarantor’s recourse obligations with respect to bankruptcy or insolvency related events is capped at 25% of the outstanding principal balance of the 640 5th Avenue Whole Loan, plus lender’s enforcement costs under the guaranty (including, reasonable attorneys’ fees). Additionally, recourse for losses relating to a transfer of the related mortgaged property or interests in the borrower is limited to voluntary transfers of all or any material portion of the such mortgaged property (or any direct or indirect interest therein) or any direct or indirect interest in the borrower that results in the borrower ceasing to be controlled, directly or indirectly, by either (i) Vornado Realty L.P., (ii) Vornado Realty Trust, (iii) Crown Jewel Partners LLC and/or (iv)(a) a person that has a net worth (exclusive of the value of the mortgaged property and any liabilities associated therewith), determined as of a date no more than six months prior to the date of the relevant transfer, of at least $400,000,000, or (b) is a person in which more than 20% of the ownership interests are owned directly or indirectly by, and is controlled by, any one or more persons described in the forgoing clause (iv)(a), in either case, in violation of the 640 5th Avenue Whole Loan documents. |
(14) | With respect to Mortgage Loan No. 3 (640 5th Avenue), the mortgaged property is subject to an Industrial and Commercial Tax Abatement (the “ICAP Tax Abatement”) that commenced on July 1, 2019 and is scheduled to end on July 1, 2029, which is set to be phased out beginning in July 2024. The ICAP Tax Abatement originally provided a 100% tax abatement of the 640 5th Avenue mortgaged property’s assessment value, which abatement amount will be reduced to 80.0% of such assessment value in July 2024, 60.0% in July 2025, 40.0% in July 2026 and 20.0% in July 2027 until termination. The total benefit from the ICAP Tax Abatement for the 2024/2025 tax year is $2,459,639. |
A-1-26 |
(15) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), the Lotus 315 Mortgaged Property consists of 180 residential units, 16,200 square feet of ground floor retail space and 10,907 square feet of self storage space across 160 units. The residential income accounts for 89.4% of the Lotus 315 Mortgaged Property total EGI with the commercial and self storage income accounting for the remaining 10.6%. |
(16) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), Current Occupancy (%) represents the residential occupancy at the Lotus 315 and Essence 144 Mortgaged Properties as of June 1, 2024. The Lotus 315 Mortgaged Property also contains 16,200 square feet of retail space that is 100.0% leased as of April 23, 2024 and 10,907 square feet of self-storage space that is in lease-up and 37.5% occupied by units as of June 13, 2024. |
(17) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), the appraised value represents the aggregate appraised value of the Lotus 315 Mortgaged Property and the Essence 144 Mortgaged Property. The Appraised Value for the Lotus 315 Mortgaged Property represents the “prospective market value upon stabilization” of $73,200,000 as of October 1, 2024 which includes value attributable to the renovated commercial units at the Lotus 315 Mortgaged Property. The Appraised Value for the Essence 144 Mortgaged Property represents the “as is” value of $50,500,000 as of April 23, 2024. |
(18) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), the borrowers funded at loan origination an upfront holdback reserve of $1,000,000 which may be disbursed in up to four increments upon (a) no event of default having occurred and being continuing and (b) the lender receiving evidence, in form and substance reasonably satisfactory to the lender, that the unadjusted net operating income debt yield (calculated as set forth in the Lotus & Essence 144 whole loan documents and after giving effect to the release) equals or exceeds 8.15%. If the conditions to release of all the holdback reserve funds are not satisfied by the date that is 36 months after the loan origination date (which was June 3, 2024), the lender will have the right in its sole discretion to continue to hold the holdback reserve as additional collateral and the borrower will have no further right to obtain a release of such funds. |
(19) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), the Lotus 315 Mortgaged Property benefits from a 30-year payment in lieu of taxes (“PILOT”) program pursuant to a PILOT agreement between the related borrower, the City of East Orange and the State of New Jersey, which commenced in January 1, 2022 and is expected to phase out completely in 2051. Under the PILOT program, real estate taxes are paid directly to the City, and there are no affordability restrictions. The Essence 144 Mortgaged Property benefits from a 30-year PILOT program pursuant to a PILOT agreement between the related borrower, the City of East Orange, and the State of New Jersey, which is expected to phase out completely in 2046. |
(20) | With respect to Mortgage Loan No. 4 (Lotus 315 & Essence 144), the increase in Underwritten Net Operating Income ($) of more than 10% over the Most Recent NOI ($) is primarily attributable to commercial rental income of $602,244 at the Lotus 315 Mortgaged Property. The borrower sponsor recently executed leases with two retail tenants for $427,500 and converted another retail unit into 160 self-storage units which were 41.6% economically occupied as of June 13, 2024. The two retail tenants are not yet in occupancy and have free and or gap rent periods as follows; The tenant Sihana LLC, which accounts for 64.8% of the retail net rentable area at the Lotus 315 Mortgaged Property, is currently in a 50% rent abatement period that began on July 1, 2024 and ends on September 30, 2024 and a 25% rent abatement period beginning on October 1, 2024 and ending on March 31, 2025. The tenant Bernard Jackson Art Gallery, which accounts for 35.2% of the retail net rentable area at the Lotus 315 Mortgaged Property, is in a gap rent period through September 6, 2024. |
A-1-27 |
(21) | With respect to Mortgage Loan No. 6 (3060 Olympic), at origination, the guarantor executed a master lease for all vacant and delinquent units which included 13 units at the mortgaged property. The monthly base rent under the master lease is $31,650. The master lease may be terminated at the earlier to occur of (A) the repayment in full of the 3060 Olympic mortgage loan or (B) each of the following conditions are satisfied (i) no Trigger Period (as defined in the 3060 Olympic mortgage loan documents) is then continuing, (ii) the 3060 West Olympic mortgaged property has an occupancy rate of 95%, and (iii) the debt yield is equal to or greater than 8% for one calendar quarter. |
(22) | With respect to Mortgage Loan No. 6 (3060 Olympic), the required ongoing monthly ground lease reserve deposit is equal to the lesser of $66,000 and the positive difference between the current balance of the ground lease reserve subaccount and $132,000. |
(23) | With respect to Mortgage Loan No. 6 (3060 Olympic), the mortgaged property is subject to a ground lease between the borrower as ground lessee and Jong Whan Cha and Soon Ai Cha, Trustees of the Cha Revocable Family Trust Dated October 31, 2000 and JSR Development Group, LLC as ground lessor. The ground lease has an initial term of 33 years that commenced in August 2016 and expires in August 2049, with two, 33-year renewal options remaining that are as of right provided no event of default under the ground lease exists. The initial ground rent was set at $60,000 per month with an increase of 10% every five years. The current ground rent payment is $66,000 per month and is set to increase to $72,600 per month in August 2026. |
(24) | With respect to Mortgage Loan No. 8 (132 West 36th Street), the mortgage loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and Argentic Real Estate Finance 2 LLC. |
(25) | With respect to Mortgage Loan No. 8 (132 West 36th Street), the Fifth Largest Tenant, New York Real Estate Institute, Inc., leases 7,986 square feet of space on a month-to-month basis and 1,470 square feet of space that expires February 28, 2027. |
(26) | With respect to Mortgage Loan No. 10 (Marriott Hartford Windsor Airport), on each monthly payment date, the borrower is required to deposit with lender into a capital expenditure reserve account an amount equal to the greater of (a) 1/12 of 4% of gross income from operations during the calendar year immediately preceding the calendar year in which such monthly payment date occurs and (b) the aggregate amount, if any, required to be reserved under the management agreement and the franchise agreement. |
(27) | With respect to Mortgage Loan No. 11 (Cummins Station), TI/LC reserves may be used for general TI/LCs and existing TI/LCs totalling $2,115,000 with respect to the Vidorra Restaurant space (9,400 square feet of net rentable area). |
(28) | With respect to Mortgage Loan No. 11 (Cummins Station), in lieu of a cash flow sweep triggered by a low DSCR trigger, the Low DSCR Trigger Event Collateral may be posted in the form of cash or a letter of credit in an amount that, if used to pay down the loan, would cure the DSCR trigger event. The Low DSCR Trigger Event may be used to pay down the debt. |
(29) | With respect to Mortgage Loan No. 12 (Hyatt Place Pittsburgh North Shore), the FF&E reserve may be adjusted based on quarterly operating statements in an amount equal to 1/12th of 4% of the trailing 12-month underwritten revenue for the prior fiscal quarter. The monthly reserve amount is initially estimated at $29,324. |
(30) | With respect to Mortgage Loan No. 12 (Hyatt Place Pittsburgh North Shore), the borrower may avoid a cash flow sweep triggered by a low DSCR trigger for 6 months by depositing $478,692 in the form of cash or a letter of credit. |
A-1-28 |
(31) | With respect to Mortgage Loan No. 14 (Park Parthenia), 91 of the 447 total units are rented by tenants holding Housing Authority of the City of Los Angeles Section 8 vouchers. In addition, 418 of the 447 total units are leased on a month-to-month basis. |
(32) | With respect to Mortgage Loan No. 14 (Park Parthenia), the borrower may defease the Park Parthenia Whole Loan in whole (but not in part) at any time after the date that is two years after the closing date of the securitization that includes the last pari passu note of the Park Parthenia Whole Loan to be securitized. The assumed lockout period of 25 payments is based on the expected WFCM 2024-5C1 securitization closing date in July 2024. The actual lockout period may be longer. |
(33) | With respect to Mortgage Loan No. 14 (Park Parthenia), the Mortgaged Property is comprised of 447 units, including three family center units, one management office, and one model unit. There are 64 buildings in the gated community, where the related borrower sponsor owns 48 buildings, an affiliate of the borrower sponsor owns 5 buildings, and third-party owners own 11 buildings. |
(34) | With respect to Mortgage Loan No. 15 (57-63 Orchard Street), the mortgaged property is comprised of 32,946 square feet of office space, 13,754 square feet of retail space, and 8,500 square feet of multifamily space. |
(35) | With respect to Mortgage Loan No. 15 (57-63 Orchard Street), the second largest tenant, Alpha Industries, has the right to terminate the lease, if governmental authorities, including the New York City Department of Buildings, prohibit the operation of the property as an office. The current zoning permits office use. |
(36) | With respect to Mortgage Loan No. 15 (57-63 Orchard Street), the borrower is not required to make monthly rollover deposits if (i) the balance in the rollover account meets or exceeds $400,000, or (ii) following the satisfaction of the Rollover Cap Conditions, the balance in the account meets or exceeds $300,000. “Rollover Cap Conditions” mean (i) on or after June 21, 2026: (ii) no event of default or cash sweep event has occurred and is continuing, (iii) the borrower has delivered to lender reasonably acceptable evidence that commercial leases comprising at least 70% of the commercial leases expiring during the term of the loan have been replaced, renewed or extended for a period of not less than 3 years beyond each such commercial lease’s expiration date (in the lease in existence as of the origination date of June 21, 2024), (iv) all tenant improvement costs and leasing commissions for the commercial leases referenced in (iii) above have been paid in full, and (v) with respect to the commercial leases referenced in (iii) above, the tenants are in place, open for business and paying full, unabated, rent. For purposes of determining whether 70% of the commercial leases satisfy subsection (ii), the lender will calculate such percentage using the base rent paid pursuant to each commercial lease (and not taking into account any reimbursements or additional rent paid pursuant to such leases) and will take into account the base rent in such extension or renewal. At loan origination, the borrower deposited $400,000 into the rollover reserve account. |
(37) | With respect to Mortgage Loan No. 15 (57-63 Orchard Street), the fifth largest tenant, Juan Miguel Carrion Cententero, has the right to terminate the lease at any time by giving 60 days prior written notice. |
(38) | With respect to Mortgage Loan No. 15 (57-63 Orchard Street), the borrower will have the right at any time after August 6, 2026 and prior to January 6, 2029 to obtain the release of a portion of the mortgaged property located at 57 Orchard Street as long as, among other conditions, (i) the borrower partially defeases the 57-63 mortgage oan in an amount equal to the release price of 110% of $3,500,000; (ii) no event of default has occurred and is continuing; (iii) the DSCR after the release is not less than the greater of (1) 1.29x and (2) the DSCR immediately preceding such release; (iv) the LTV ratio after the release is not greater than the lesser of (1) 63.6%, and (2) the LTV immediately preceding such release. |
A-1-29 |
(39) | With respect to Mortgage Loan No. 18 (Baker MHC Portfolio), the Henderson MHP Mortgaged Property includes 50 homesites, seven RV spaces, six storage units, two apartments, one single family home and one garage. The American MHP Mortgaged Property includes 37 homesites, two apartments and one RV space. |
(40) | With respect to Mortgage Loan No. 18 (Baker MHC Portfolio), the American MHP, Monson MHC and Whispering Pines Estates Mortgaged Properties were acquired in 2022. The 2023 financial information represents all the Mortgaged Properties within the portfolio. |
(41) | With respect to Mortgage Loan No. 18 (Baker MHC Portfolio), on a monthly basis, the borrowers are required to deposit 1/12th of an amount which would be sufficient to pay insurance premiums for the renewal of coverages; provided, such monthly deposits will be waived to the extent that the borrowers maintain a blanket insurance policy acceptable to the lender. As of the origination date, the borrowers’ commercial general liability and umbrella liability insurance are provided through a blanket policy approved by the lender, and therefore the required monthly deposit does not include insurance premiums with respect to such coverage. |
(42) | With respect to Loan No. 19 (Euclid Apartments), the borrowers may defease the Euclid Apartments whole loan in whole (but not in part) at any time after the earlier to occur of (i) January 31, 2027 and (ii) the date that is two years after the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 29 payments is based on the expected WFCM 2024-5C1 securitization closing date in July 2024. The actual lockout period may be longer. |
(43) | With respect to Loan No. 19 (Euclid Apartments), future mezzanine debt is permitted, subject to the satisfaction of certain conditions including, among others, (i) immediately after giving effect to such debt (x) the combined loan-to-value ratio does not exceed 68.8% and (y) the debt service coverage ratio is equal to or greater than 1.45x, (ii) execution of a subordination and intercreditor agreement reasonably acceptable to the lender and (iii) receipt of a rating agency confirmation from each applicable rating agency. |
(44) | With respect to Mortgage Loan No. 20 (3216 South Blvd), the Appraised Value ($) of $24,100,000 as of April 3, 2024 is based on the assumption that the planned reserves for the near-term costs of future leases are fully funded by the lender, and that these reserved funds would pass with title to any purchaser of the Mortgaged Property. The unfunded obligations were reserved for at origination of the Mortgage Loan. |
(45) | With respect to Mortgage Loan No. 20 (3216 South Blvd), historical financial information is not available because the building consisting of approximately 71.6% of the net rentable square footage was built in 2023, and the building consisting of approximately 28.4% of the net rentable square footage was renovated in 2023. |
(46) | With respect to Mortgage Loan No. 20 (3216 South Blvd), on a monthly basis, the borrower is required to deposit 1/12th of an amount which would be sufficient to pay insurance premiums for the renewal of coverages; provided, such monthly deposits will be waived to the extent that the borrower maintains a blanket insurance policy acceptable to the lender. The borrower is permitted to pay insurance premiums on a quarterly installment basis directly to the insurance company and/or the insurance agent/broker, and in such case, the borrower will not be required to make the monthly insurance deposits, provided (1) the borrower submits to the lender written evidence acceptable to the lender of the payment of each and every installment as each such installment becomes due and payable, at least five days prior to such installment’s date due, (2) the policies remain in full force and effect and (3) the borrower, at all times, maintains in the insurance account an amount equal to the applicable insurance premiums required deposit amount. In no event will the borrower be permitted to finance any premiums through a premium finance company. |
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(47) | With respect to Mortgage Loan No. 20 (3216 South Blvd), on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit all material tenant trigger event excess cash for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases. |
(48) | With respect to Mortgage Loan No. 22 (Home2Suites Florence), the Monthly FF&E Expenditure Amount means (i) $16,538.92 for the Payment Dates which occur in July 2024 through June 2025 and (ii) thereafter a consistent monthly amount for the Payment Dates in July through June of the following calendar year equal to the greater of (a) the monthly amount required to be reserved pursuant to the Franchise Agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the Operating Income of the Property for the previous twelve (12) month period, which consistent monthly payment for each twelve (12) month period as described immediately above shall be as determined on the anniversary of the last day of the calendar month in which the Closing Date occurs. |
(49) | With respect to Mortgage Loan No. 23 (Holiday Inn Hammond), the borrower is required to make monthly deposits into the FF&E Reserve in the amount of 1/12th of 4.0% of the greater of (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 according to the most recently submitted annual budget. |
(50) | With respect to Mortgage Loan No. 23 (Holiday Inn Hammond), the franchise agreement with Holiday Hospitality Franchising, LLC is set to expire on September 8, 2029, which is after the maturity date of the loan, and does not have any renewal options. |
(51) | With respect to Mortgage Loan No. 23 (Holiday Inn Hammond), the borrower will be required to make monthly deposits into the PIP Reserve Account an amount equal to 1/12th of one percent (1%) of the greater of (x) gross revenues for the related Mortgaged Property in the preceding calendar year or (y) the projected gross revenues for the Mortgaged Property for the current calendar year according to the most recently submitted annual budget. |
(52) | With respect to Mortgage Loan No. 24 (817-819 9th Avenue), the Mortgaged Property consists of two adjacent four-story, mixed-use buildings. The buildings are comprised of twelve residential units totaling 8,100 square feet, which represents 46.7% of total EGI, and four retail units totaling 3,100 square feet, which represents 53.3% of total EGI. |
(53) | With respect to Mortgage Loan No. 24 (817-819 9th Avenue), the Mortgaged Property contains four retail units totaling 3,100 square feet, which are 100% leased to four tenants. The Fourth Largest Tenant, Virago by Chef Yala, occupies 350 square feet, is not yet in occupancy as the space is currently being built out; however, the tenant is paying rent. At loan origination, approximately one year’s worth of rent was reserved. |
(54) | With respect to Mortgage Loan No. 24 (817-819 9th Avenue), the increase in Underwritten Net Operating Income ($) of more than 10% over the Most Recent NOI ($) is primarily attributable to ownership's lease-up following acquisition in April 2022 and their subsequent full-scale repositioning, which included renovating all fair market residential units. |
(55) | With respect to Mortgage Loan No. 25 (Concord Hills), provided no event of default has occurred and is continuing, if the property has achieved a net cash flow debt yield of at least 10.50% based on the trailing twelve months, then, assuming the net cash flow debt yield remains above 10.50%, beginning on July 6, 2026, the monthly replacement reserve deposit will be reduced to approximately $2,667 per month. |
(56) | With respect to Mortgage Loan No. 26 (5635 E La Palma), the Mortgaged Property includes a 51,102 square foot anchor building that will operate as a Tesla dealership. |
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(57) | With respect to Mortgage Loan No. 26 (5635 E La Palma), total net rentable square footage is inclusive of a 3,900 square foot building that is ground leased to the second largest tenant, McDonald’s. |
(58) | With respect to Mortgage Loan No. 26 (5635 E La Palma), on a monthly basis, the borrower is required to deposit 1/12th of an amount which would be sufficient to pay insurance premiums for the renewal of coverages; provided, such monthly deposits will be waived to the extent that the borrower maintains a blanket insurance policy acceptable to the lender. |
(59) | With respect to Mortgage Loan No. 26 (5635 E La Palma), on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit an amount equal to, with respect to the applicable period, the greater of (i) the product of (A) the total rentable square footage demised under all material tenant leases with respect to which (or with respect to the related material tenants or lease guarantors) a material tenant trigger event exists and (B) the ratio in which (1) the numerator is equal to $14.20 and (2) the denominator is equal to 12 and (ii) all material tenant trigger event excess cash for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases. |
(60) | With respect to Mortgage Loan No. 26 (5635 E La Palma), the increase from the Most Recent NOI ($) to the Underwritten Net Operating Income ($) is primarily attributable to the recent execution of a 15-year lease with the largest tenant, Tesla, Inc., which has an annual underwritten base rent of $1,297,800. |
(61) | With respect to Mortgage Loan No. 28 (220 Jackson Street), the Mortgaged Property consists of 13,681 square feet of office space and 8,276 square feet of retail space. |
(62) | With respect to Mortgage Loan No. 28 (220 Jackson Street), on each monthly payment date, the borrower is required to deposit an amount equal to 1/12th of the taxes that the lender reasonably estimates will be payable during the next ensuing 12 months. So long as (i) no event of default has occurred and is then continuing and (ii) the borrower delivers evidence reasonably satisfactory to the lender of the payment of all of the taxes on or prior to the date so due, the borrower may deposit an amount equal to the annual estimated tax amount in cash in order to suspend the monthly tax deposit obligation during the 12-month period to which such annual estimated tax amount relates; or, in lieu of, or in replacement of, such deposit of cash, the borrower may deliver to the lender a letter of credit with the face amount equal to such annual estimated tax amount; provided, the borrower will remain obligated in any event to deposit any additional amounts of which the lender notifies the borrower to be due; and provided, further, the borrower’s monthly tax deposit obligation will resume immediately following such 12-month period unless the borrower has deposited cash or delivered to the lender a new letter of credit, in either case, in the amount of the annual estimated tax amount with respect to such subsequent 12-month period. Within the 30-day period immediately following the origination date, the borrower is required to deliver to the lender a letter of credit with a face amount equal to the annual estimated tax amount. The failure of the borrower to comply with its obligations set forth in the immediately preceding sentence will, at the lender’s option, constitute an event of default. |
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(63) | With respect to Mortgage Loan No. 28 (220 Jackson Street), on each monthly payment date, the borrower is required to deposit an amount equal to 1/12th of the insurance premiums that the lender reasonably estimates will be payable for the renewal of the coverages. So long as (i) no event of default has occurred and is then continuing and (ii) the borrower delivers evidence reasonably satisfactory to the lender of the timely payment of all of the insurance premiums, the borrower may deposit an amount equal to the annual estimated insurance amount in cash in order to suspend the monthly insurance deposit obligation during the 12-month period to which such annual estimated insurance amount relates; or, in lieu of, or in replacement of, such deposit of cash, the borrower may deliver to the lender a letter of credit with the face amount equal to such annual estimated insurance amount; provided, the borrower will remain obligated in any event to deposit any additional amounts of which the lender notifies the borrower to be due; and provided, further, the borrower’s monthly insurance deposit obligation will resume immediately following such 12-month period unless the borrower has deposited cash or delivered to the lender a new letter of credit, in either case, in the amount of the annual estimated insurance amount with respect to such subsequent 12-month period. Within the 30-day period immediately following the origination date, the borrower is required to deliver to the lender a letter of credit with a face amount equal to the annual estimated insurance amount. The failure of the borrower to comply with its obligations set forth in the immediately preceding sentence will, at the lender’s option, constitute an event of default. |
(64) | With respect to Mortgage Loan No. 28 (220 Jackson Street), on each monthly payment date during a cash management trigger event period, the borrower is required to deposit an amount equal to $365.95 for capital expenditures. |
(65) | With respect to Mortgage Loan No. 28 (220 Jackson Street), on each monthly payment date during a cash management trigger event period, the borrower is required to deposit an amount equal to $3,659.50 to pay for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower. |
(66) | With respect to Mortgage Loan No. 28 (220 Jackson Street), on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit an amount equal to, with respect to the applicable period, the greater of (i) the product of (A) the total rentable square footage demised under all material tenant leases with respect to which (or with respect to the related material tenants or lease guarantors) a material tenant trigger event exists and (B) the ratio in which (1) the numerator is equal to $23.00 and (2) the denominator is equal to 12 and (ii) all material tenant trigger event excess cash for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases. With respect to the existing material tenant trigger event related to the largest tenant, Kokkari Restaurant, the borrower is required to deliver a letter of credit with a face amount equal to $330,000 (the “Kokkari Lease Material Tenant Trigger Event Suspension Letter of Credit”) within 30 days of the origination date, which Kokkari Lease Material Tenant Trigger Event Suspension Letter of Credit, once delivered, will suspend the cash sweep associated with the existing material tenant trigger event related to the Largest Tenant, Kokkari Restaurant. The failure of the borrower to comply with its obligations set forth in the immediately preceding sentence will, at the lender’s option, constitute an event of default. |
(67) | With respect to Mortgage Loan No. 28 (220 Jackson Street), the fourth largest tenant, William B. Baner, dba The Baner Companies, is an affiliate of the borrower sponsor and non-recourse carveout guarantors. |
(68) | With respect to Mortgage Loan No. 31 (Plymouth Park Apartments), the mortgaged property is marketed as a 55+ living community but is not deed restricted. |
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