FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-206677-07 | ||
Wells Fargo Commercial Mortgage Trust 2016-BNK1 Disclaimer
STATEMENT REGARDING THIS FREE WRITING PROSPECTUS The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-206677) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.
Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Academy Securities, Inc., Drexel Hamilton, 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.
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ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Mortgage Loan Seller(1) | Cross Collateralized and Cross Defaulted Loan Flag(2) | Address | City | State | Zip Code |
1 | The Shops at Crystals | WFB/BANA | 3720 South Las Vegas Boulevard | Las Vegas | NV | 89109 | |
2 | Vertex Pharmaceuticals HQ | MSMCH | 11 Fan Pier Boulevard & 50 Northern Avenue | Boston | MA | 02210 | |
3 | One Stamford Forum | BANA | 201 Tresser Boulevard | Stamford | CT | 06901 | |
4 | Renaissance Dallas | WFB | 2222 North Stemmons Freeway | Dallas | TX | 75207 | |
5 | Pinnacle II | WFB | 3300 West Olive Avenue | Burbank | CA | 91505 | |
6 | Brewers Hill | WFB | 3600, 3601, 3700 O’Donnell Street | Baltimore | MD | 21224 | |
7 | Simon Premium Outlets | BANA | Various | Various | Various | Various | |
7.01 | Lee Premium Outlets | BANA | 50 Water Street | Lee | MA | 01238 | |
7.02 | Gaffney Premium Outlets | BANA | 1 Factory Shops Boulevard | Gaffney | SC | 29341 | |
7.03 | Calhoun Premium Outlets | BANA | 455 Belwood Road | Calhoun | GA | 30701 | |
8 | One Penn Center | WFB | 1601 John F. Kennedy Boulevard | Philadelphia | PA | 19103 | |
9 | Hilton Long Island Huntington | MSMCH | 598 Broad Hollow Road | Melville | NY | 11747 | |
10 | Aurora Office Building | MSMCH | 750 South Richfield Street | Aurora | CO | 80017 | |
11 | 633 Third Avenue - Retail Condo | WFB | 633 Third Avenue | New York | NY | 10017 | |
12 | Riverside University Village | BANA | 3522 Iowa Avenue; 1201, 1223 & 1299 University Avenue | Riverside | CA | 92507 | |
13 | FedEx - Atlanta, GA | BANA | FedEx - Atlanta, GA & West Palm Beach, FL | 7520 Factory Shoals Road Southwest | Austell | GA | 30168 |
14 | FedEx - West Palm Beach, FL | BANA | FedEx - Atlanta, GA & West Palm Beach, FL | 7358 7th Place North | West Palm Beach | FL | 33411 |
15 | FedEx - Fife, WA | BANA | 3015 78th Avenue East | Fife | WA | 98424 | |
16 | 420 East Third Street | MSMCH | 420 East Third Street | Los Angeles | CA | 90013 | |
17 | Courtyard Marriott - Baldwin Park | MSMCH | 14635 Baldwin Park Towne Center | Baldwin Park | CA | 91706 | |
18 | Homewood Suites Del Mar | WFB | 11025 Vista Sorrento Parkway | San Diego | CA | 92130 | |
19 | Corporate Center at Kierland | BANA | 14635 North Kierland Boulevard | Scottsdale | AZ | 85254 | |
20 | La Crosse Industrial | BANA | 1637-1641 & 1717 Saint James Street | La Crosse | WI | 54603 | |
21 | Southland Terrace Shopping Center | WFB | 3815-3997 South Seventh Street Road | Louisville | KY | 40216 | |
22 | Nassau Bay Town Square | WFB | 1760-1850 East Nasa Parkway; 18015-18048 Saturn Lane | Houston | TX | 77058 | |
23 | U-Stor-It Lisle | BANA | 2100 Ogden Avenue | Lisle | IL | 60532 | |
24 | So Cal Self Storage - Northridge | WFB | 9000 Corbin Avenue | Northridge | CA | 91324 | |
25 | FedEx Ground - South Bend, IN | MSMCH | 5115 Dylan Drive | South Bend | IN | 46628 | |
26 | Westland Colonial Village Apartments | MSMCH | 8181 North Wayne Road | Westland | MI | 48185 | |
27 | Dallas MHC Portfolio | BANA | Various | Various | TX | Various | |
27.01 | Forest Acres MHC and RV Park | BANA | 4800 Kelly Elliot Road | Arlington | TX | 76017 | |
27.02 | Woodshire MHC | BANA | 4820 Lawnview Avenue | Dallas | TX | 75227 | |
27.03 | Cobblestone MHC | BANA | 2800 Proctor Street | Irving | TX | 75061 | |
28 | So Cal Self Storage - Rancho Santa Margarita | WFB | 30231 Tomas Road | Rancho Santa Margarita | CA | 92688 | |
29 | FedEx - Boulder, CO | BANA | 12405 West 112th Avenue | Broomfield | CO | 80021 | |
30 | Brewster Business Park | BANA | 1944 Route 22 | Brewster | NY | 10509 | |
31 | Bonanza Square | WFB | 2320 East Bonanza Road | Las Vegas | NV | 89101 | |
32 | Lakeview and Creek Run Business Park | BANA | Various | Columbus | OH | Various | |
32.01 | Lakeview Commerce Center | BANA | 640, 670, 690, and 720 Lakeview Plaza Boulevard | Columbus | OH | 43085 | |
32.02 | Creekrun Business Park | BANA | 460, 470, 480 Schrock Road | Columbus | OH | 43229 | |
33 | So Cal Self Storage - Camarillo | WFB | 4060 Via Pescador | Camarillo | CA | 93012 | |
34 | South Main Shopping Center | MSMCH | 8200 & 8330 Main Street | Houston | TX | 77025 | |
35 | Publix Self Storage | WFB | 9000 Angela Place | Anchorage | AK | 99502 | |
36 | SPS Frederick | WFB | 17 Western Drive | Frederick | MD | 21702 | |
37 | Shopko - Redding | WFB | 55 Lake Boulevard | Redding | CA | 96003 | |
38 | West Crossing Shopping Center | MSMCH | 14550 Westheimer Road | Houston | TX | 77077 | |
39 | Passaic Self Storage | BANA | 168 River Drive | Passaic | NJ | 07055 | |
40 | NC Storage Center Portfolio | BANA | Various | Various | NC | Various | |
40.01 | Highway 70 Storage Center | BANA | 3005 Nathan Street | Newton | NC | 28658 | |
40.02 | North Cannon Storage Center | BANA | 2745 North Cannon Boulevard | Kannapolis | NC | 28083 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | General Property Type | Specific Property Type | Year Built | Year Renovated | Number of Units(3) | Unit of Measure(3) | Cut-off Date Balance Per Unit/SF(4) | Original Balance ($)(4)(5) | Cut-off Date Balance ($)(4)(5) | |
1 | The Shops at Crystals | Retail | Anchored | 2009 | 262,327 | Sq. Ft. | 1,459 | 80,000,000 | 80,000,000 | ||
2 | Vertex Pharmaceuticals HQ | Office | CBD | 2013 | 1,133,723 | Sq. Ft. | 375 | 80,000,000 | 80,000,000 | ||
3 | One Stamford Forum | Office | CBD | 1973 | 2000 | 504,471 | Sq. Ft. | 218 | 71,500,000 | 71,387,864 | |
4 | Renaissance Dallas | Hospitality | Full Service | 1983 | 2015 | 514 | Rooms | 116,732 | 60,000,000 | 60,000,000 | |
5 | Pinnacle II | Office | CBD | 2005 | 230,000 | Sq. Ft. | 378 | 40,000,000 | 40,000,000 | ||
6 | Brewers Hill | Mixed Use | Office/Self Storage | 1885 | 2005 | 382,213 | Sq. Ft. | 105 | 40,000,000 | 40,000,000 | |
7 | Simon Premium Outlets | Retail | Outlet Center | Various | 782,765 | Sq. Ft. | 134 | 37,500,000 | 37,399,290 | ||
7.01 | Lee Premium Outlets | Retail | Outlet Center | 1997 | 224,825 | Sq. Ft. | 19,285,714 | 19,233,921 | |||
7.02 | Gaffney Premium Outlets | Retail | Outlet Center | 1996 | 303,877 | Sq. Ft. | 11,250,000 | 11,219,787 | |||
7.03 | Calhoun Premium Outlets | Retail | Outlet Center | 1992 | 254,063 | Sq. Ft. | 6,964,286 | 6,945,582 | |||
8 | One Penn Center | Office | CBD | 1930 | 1987 | 689,966 | Sq. Ft. | 99 | 35,000,000 | 35,000,000 | |
9 | Hilton Long Island Huntington | Hospitality | Full Service | 1988 | 2013 | 305 | Rooms | 114,754 | 35,000,000 | 35,000,000 | |
10 | Aurora Office Building | Office | Suburban | 1997 | 2016 | 183,529 | Sq. Ft. | 178 | 32,600,000 | 32,600,000 | |
11 | 633 Third Avenue - Retail Condo | Retail | Anchored | 1962 | 40,468 | Sq. Ft. | 791 | 32,000,000 | 32,000,000 | ||
12 | Riverside University Village | Retail | Anchored | 1998 | 180,126 | Sq. Ft. | 161 | 29,250,000 | 29,013,042 | ||
13 | FedEx - Atlanta, GA | Industrial | Warehouse Distribution | 2016 | 311,489 | Sq. Ft. | 97 | 14,200,000 | 14,200,000 | ||
14 | FedEx - West Palm Beach, FL | Industrial | Warehouse Distribution | 2016 | 225,198 | Sq. Ft. | 97 | 11,837,500 | 11,837,500 | ||
15 | FedEx - Fife, WA | Industrial | Warehouse Distribution | 2015 | 312,928 | Sq. Ft. | 129 | 20,125,000 | 20,125,000 | ||
16 | 420 East Third Street | Mixed Use | Office/Retail | 1989 | 2016 | 116,152 | Sq. Ft. | 164 | 19,000,000 | 19,000,000 | |
17 | Courtyard Marriott - Baldwin Park | Hospitality | Select Service | 1990 | 2013 | 195 | Rooms | 97,332 | 19,000,000 | 18,979,809 | |
18 | Homewood Suites Del Mar | Hospitality | Extended Stay | 2005 | 120 | Rooms | 156,135 | 18,800,000 | 18,736,233 | ||
19 | Corporate Center at Kierland | Office | Suburban | 2000 | 107,846 | Sq. Ft. | 147 | 15,830,000 | 15,830,000 | ||
20 | La Crosse Industrial | Industrial | Flex | 1964 | 1989 | 767,722 | Sq. Ft. | 21 | 16,100,000 | 15,806,702 | |
21 | Southland Terrace Shopping Center | Retail | Anchored | 1962 | 2006 | 220,234 | Sq. Ft. | 64 | 14,000,000 | 14,000,000 | |
22 | Nassau Bay Town Square | Retail | Anchored | 2010 | 50,253 | Sq. Ft. | 256 | 12,880,000 | 12,880,000 | ||
23 | U-Stor-It Lisle | Self Storage | Self Storage | 1978 | 2014 | 98,573 | Sq. Ft. | 125 | 12,350,000 | 12,320,090 | |
24 | So Cal Self Storage - Northridge | Self Storage | Self Storage | 2005 | 76,890 | Sq. Ft. | 150 | 11,500,000 | 11,500,000 | ||
25 | FedEx Ground - South Bend, IN | Industrial | Warehouse Distribution | 2015 | 208,361 | Sq. Ft. | 55 | 12,500,000 | 11,500,000 | ||
26 | Westland Colonial Village Apartments | Multifamily | Garden | 1966 | 304 | Units | 36,790 | 11,200,000 | 11,184,133 | ||
27 | Dallas MHC Portfolio | Manufactured Housing Community | Manufactured Housing Community | Various | 296 | Pads | 33,446 | 9,900,000 | 9,900,000 | ||
27.01 | Forest Acres MHC and RV Park | Manufactured Housing Community | Manufactured Housing Community | 1975 | 133 | Pads | 4,612,000 | 4,612,000 | |||
27.02 | Woodshire MHC | Manufactured Housing Community | Manufactured Housing Community | 1958 | 120 | Pads | 3,812,000 | 3,812,000 | |||
27.03 | Cobblestone MHC | Manufactured Housing Community | Manufactured Housing Community | 1967 | 43 | Pads | 1,476,000 | 1,476,000 | |||
28 | So Cal Self Storage - Rancho Santa Margarita | Self Storage | Self Storage | 1990 | 2002 | 64,262 | Sq. Ft. | 148 | 9,500,000 | 9,500,000 | |
29 | FedEx - Boulder, CO | Industrial | Warehouse Distribution | 2016 | 211,030 | Sq. Ft. | 87 | 9,225,000 | 9,225,000 | ||
30 | Brewster Business Park | Industrial | Flex | 1975 | 1992 | 132,789 | Sq. Ft. | 64 | 8,500,000 | 8,490,251 | |
31 | Bonanza Square | Retail | Anchored | 1966 | 2015 | 107,794 | Sq. Ft. | 61 | 6,600,000 | 6,591,503 | |
32 | Lakeview and Creek Run Business Park | Industrial | Flex | 1986 | 207,951 | Sq. Ft. | 31 | 6,550,000 | 6,542,268 | ||
32.01 | Lakeview Commerce Center | Industrial | Flex | 1986 | 99,056 | Sq. Ft. | 3,275,000 | 3,271,134 | |||
32.02 | Creekrun Business Park | Industrial | Flex | 1986 | 108,895 | Sq. Ft. | 3,275,000 | 3,271,134 | |||
33 | So Cal Self Storage - Camarillo | Self Storage | Self Storage | 1996 | 45,902 | Sq. Ft. | 142 | 6,500,000 | 6,500,000 | ||
34 | South Main Shopping Center | Retail | Unanchored | 2006 | 17,233 | Sq. Ft. | 366 | 6,300,000 | 6,300,000 | ||
35 | Publix Self Storage | Self Storage | Self Storage | 2001 | 92,970 | Sq. Ft. | 64 | 6,000,000 | 5,984,302 | ||
36 | SPS Frederick | Self Storage | Self Storage | 2000 | 64,818 | Sq. Ft. | 78 | 5,100,000 | 5,081,563 | ||
37 | Shopko - Redding | Retail | Single Tenant | 1989 | 2004 | 94,078 | Sq. Ft. | 53 | 5,000,000 | 4,967,328 | |
38 | West Crossing Shopping Center | Retail | Unanchored | 2015 | 13,335 | Sq. Ft. | 337 | 4,500,000 | 4,500,000 | ||
39 | Passaic Self Storage | Self Storage | Self Storage | 1980 | 2001 | 61,282 | Sq. Ft. | 62 | 3,800,000 | 3,791,577 | |
40 | NC Storage Center Portfolio | Self Storage | Self Storage | Various | Various | 75,200 | Sq. Ft. | 38 | 2,887,500 | 2,884,226 | |
40.01 | Highway 70 Storage Center | Self Storage | Self Storage | 1983 | 2007 | 41,880 | Sq. Ft. | 1,482,963 | 1,481,281 | ||
40.02 | North Cannon Storage Center | Self Storage | Self Storage | 1987 | 33,320 | Sq. Ft. | 1,404,537 | 1,402,944 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | % of Initial Pool Balance | Maturity Date or ARD Balloon Payment ($)(4) | ARD Loan | Origination Date | First Pay Date | Last IO Pay Date | First P&I Pay Date | Maturity Date or Anticipated Repayment Date | ARD Loan Maturity Date | Gross Mortgage Rate | Operating Advisor Ongoing Fee Rate | Certificate Administrator Fee Rate |
1 | The Shops at Crystals | 9.2% | 80,000,000 | N | 6/9/2016 | 8/1/2016 | 7/1/2026 | 7/1/2026 | 3.74400000% | 0.00000000% | 0.00750000% | ||
2 | Vertex Pharmaceuticals HQ | 9.2% | 80,000,000 | Y | 7/15/2016 | 9/6/2016 | 8/6/2026 | 8/6/2026 | 11/6/2028 | 2.79817647% | 0.00270000% | 0.00750000% | |
3 | One Stamford Forum | 8.2% | 53,264,274 | N | 6/28/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 4.90000000% | 0.00280000% | 0.00750000% | ||
4 | Renaissance Dallas | 6.9% | 54,816,455 | N | 6/1/2016 | 7/11/2016 | 6/11/2021 | 7/11/2021 | 6/11/2026 | 4.40000000% | 0.00180000% | 0.00750000% | |
5 | Pinnacle II | 4.6% | 40,000,000 | N | 6/7/2016 | 7/11/2016 | 6/11/2026 | 6/11/2026 | 4.30000000% | 0.00370000% | 0.00750000% | ||
6 | Brewers Hill | 4.6% | 34,854,432 | N | 7/7/2016 | 8/11/2016 | 7/11/2019 | 8/11/2019 | 7/11/2026 | 4.30000000% | 0.00180000% | 0.00750000% | |
7 | Simon Premium Outlets | 4.3% | 29,966,619 | N | 6/1/2016 | 7/1/2016 | 7/1/2016 | 6/1/2026 | 4.16800000% | 0.00380000% | 0.00750000% | ||
7.01 | Lee Premium Outlets | 2.2% | |||||||||||
7.02 | Gaffney Premium Outlets | 1.3% | |||||||||||
7.03 | Calhoun Premium Outlets | 0.8% | |||||||||||
8 | One Penn Center | 4.0% | 30,917,876 | N | 7/19/2016 | 9/11/2016 | 8/11/2019 | 9/11/2019 | 8/11/2026 | 4.90000000% | 0.00390000% | 0.00750000% | |
9 | Hilton Long Island Huntington | 4.0% | 29,893,239 | N | 7/20/2016 | 9/1/2016 | 8/1/2018 | 9/1/2018 | 8/1/2026 | 4.50000000% | 0.00180000% | 0.00750000% | |
10 | Aurora Office Building | 3.7% | 27,524,960 | N | 7/8/2016 | 9/1/2016 | 8/1/2018 | 9/1/2018 | 8/1/2026 | 4.08000000% | 0.00180000% | 0.00750000% | |
11 | 633 Third Avenue - Retail Condo | 3.7% | 32,000,000 | N | 6/30/2016 | 8/11/2016 | 7/11/2026 | 7/11/2026 | 4.40000000% | 0.00180000% | 0.00750000% | ||
12 | Riverside University Village | 3.3% | 21,838,869 | N | 2/23/2016 | 4/1/2016 | 4/1/2016 | 3/1/2026 | 4.96000000% | 0.00180000% | 0.00750000% | ||
13 | FedEx - Atlanta, GA | 1.6% | 14,200,000 | N | 5/19/2016 | 7/1/2016 | 6/1/2026 | 6/1/2026 | 4.24600000% | 0.00710000% | 0.00750000% | ||
14 | FedEx - West Palm Beach, FL | 1.4% | 11,837,500 | N | 5/19/2016 | 7/1/2016 | 6/1/2026 | 6/1/2026 | 4.24600000% | 0.00810000% | 0.00750000% | ||
15 | FedEx - Fife, WA | 2.3% | 20,125,000 | N | 5/4/2016 | 7/1/2016 | 6/1/2026 | 6/1/2026 | 4.23600000% | 0.00550000% | 0.00750000% | ||
16 | 420 East Third Street | 2.2% | 15,151,532 | N | 7/8/2016 | 9/1/2016 | 9/1/2016 | 8/1/2026 | 4.11000000% | 0.00180000% | 0.00750000% | ||
17 | Courtyard Marriott - Baldwin Park | 2.2% | 15,620,749 | N | 6/10/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 5.00000000% | 0.00180000% | 0.00750000% | ||
18 | Homewood Suites Del Mar | 2.2% | 15,421,153 | N | 4/27/2016 | 6/11/2016 | 6/11/2016 | 5/11/2026 | 4.93000000% | 0.00180000% | 0.00750000% | ||
19 | Corporate Center at Kierland | 1.8% | 13,934,500 | N | 6/17/2016 | 8/1/2016 | 7/1/2019 | 8/1/2019 | 7/1/2026 | 4.74000000% | 0.00180000% | 0.00750000% | |
20 | La Crosse Industrial | 1.8% | 12,029,878 | N | 9/1/2015 | 10/1/2015 | 10/1/2015 | 9/1/2025 | 4.98000000% | 0.00180000% | 0.00750000% | ||
21 | Southland Terrace Shopping Center | 1.6% | 11,278,905 | N | 7/12/2016 | 9/11/2016 | 9/11/2016 | 8/11/2026 | 4.40000000% | 0.00180000% | 0.00750000% | ||
22 | Nassau Bay Town Square | 1.5% | 10,896,617 | N | 6/23/2016 | 8/11/2016 | 7/11/2018 | 8/11/2018 | 7/11/2026 | 4.15000000% | 0.00180000% | 0.00750000% | |
23 | U-Stor-It Lisle | 1.4% | 10,046,928 | N | 5/19/2016 | 7/1/2016 | 7/1/2016 | 6/1/2026 | 4.68400000% | 0.00180000% | 0.00750000% | ||
24 | So Cal Self Storage - Northridge | 1.3% | 11,500,000 | N | 5/5/2016 | 6/11/2016 | 5/11/2026 | 5/11/2026 | 4.49900000% | 0.00180000% | 0.00750000% | ||
25 | FedEx Ground - South Bend, IN | 1.3% | 11,500,000 | N | 4/15/2016 | 6/1/2016 | 5/1/2026 | 5/1/2026 | 5.10000000% | 0.00180000% | 0.00750000% | ||
26 | Westland Colonial Village Apartments | 1.3% | 8,799,296 | N | 6/21/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 3.70000000% | 0.00180000% | 0.00750000% | ||
27 | Dallas MHC Portfolio | 1.1% | 8,686,910 | N | 6/29/2016 | 8/1/2016 | 7/1/2019 | 8/1/2019 | 7/1/2026 | 4.60000000% | 0.00180000% | 0.00750000% | |
27.01 | Forest Acres MHC and RV Park | 0.5% | |||||||||||
27.02 | Woodshire MHC | 0.4% | |||||||||||
27.03 | Cobblestone MHC | 0.2% | |||||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 1.1% | 9,500,000 | N | 5/5/2016 | 6/11/2016 | 5/11/2026 | 5/11/2026 | 4.49900000% | 0.00180000% | 0.00750000% | ||
29 | FedEx - Boulder, CO | 1.1% | 9,225,000 | N | 5/13/2016 | 7/1/2016 | 6/1/2026 | 6/1/2026 | 4.24600000% | 0.00990000% | 0.00750000% | ||
30 | Brewster Business Park | 1.0% | 6,912,001 | N | 7/1/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 4.67000000% | 0.00180000% | 0.00750000% | ||
31 | Bonanza Square | 0.8% | 5,270,988 | N | 7/1/2016 | 8/11/2016 | 8/11/2016 | 7/11/2026 | 4.15000000% | 0.00180000% | 0.00750000% | ||
32 | Lakeview and Creek Run Business Park | 0.8% | 5,303,346 | N | 6/30/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 4.54300000% | 0.00180000% | 0.00750000% | ||
32.01 | Lakeview Commerce Center | 0.4% | |||||||||||
32.02 | Creekrun Business Park | 0.4% | |||||||||||
33 | So Cal Self Storage - Camarillo | 0.7% | 6,500,000 | N | 5/31/2016 | 7/11/2016 | 6/11/2026 | 6/11/2026 | 4.25000000% | 0.00180000% | 0.00750000% | ||
34 | South Main Shopping Center | 0.7% | 4,942,924 | N | 6/29/2016 | 8/1/2016 | 7/1/2019 | 8/1/2019 | 7/1/2031 | 5.32000000% | 0.00180000% | 0.00750000% | |
35 | Publix Self Storage | 0.7% | 4,817,052 | N | 5/23/2016 | 7/11/2016 | 7/11/2016 | 6/11/2026 | 4.30000000% | 0.00180000% | 0.00750000% | ||
36 | SPS Frederick | 0.6% | 4,141,654 | N | 5/10/2016 | 6/11/2016 | 6/11/2016 | 5/11/2026 | 4.63000000% | 0.00180000% | 0.00750000% | ||
37 | Shopko - Redding | 0.6% | 23,464 | N | 6/23/2016 | 8/11/2016 | 8/11/2016 | 7/11/2026 | 4.38000000% | 0.00180000% | 0.00750000% | ||
38 | West Crossing Shopping Center | 0.5% | 3,874,111 | N | 6/3/2016 | 8/1/2016 | 7/1/2018 | 8/1/2018 | 7/1/2026 | 4.80000000% | 0.00180000% | 0.00750000% | |
39 | Passaic Self Storage | 0.4% | 3,135,441 | N | 5/9/2016 | 7/1/2016 | 7/1/2016 | 6/1/2026 | 5.11300000% | 0.00180000% | 0.00750000% | ||
40 | NC Storage Center Portfolio | 0.3% | 2,352,008 | N | 6/15/2016 | 8/1/2016 | 8/1/2016 | 7/1/2026 | 4.72000000% | 0.00180000% | 0.00750000% | ||
40.01 | Highway 70 Storage Center | 0.2% | |||||||||||
40.02 | North Cannon Storage Center | 0.2% |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Servicing Fee | CREFC® IP Royalty License Fee Rate | Asset Representations Reviewer Fee Rate | Net Mortgage Rate | Interest Accrual Method | Monthly P&I Payment ($) | Amortization Type | Interest Accrual Method During IO | Original Term to Maturity or ARD (Mos.) |
1 | The Shops at Crystals | 0.00500000% | 0.00050000% | 0.00034000% | 3.73066000% | Actual/360 | 253,066.67 | Interest-only, Balloon | Actual/360 | 120 |
2 | Vertex Pharmaceuticals HQ | 0.00500000% | 0.00050000% | 0.00034000% | 2.78213647% | Actual/360 | 189,136.00 | Interest-only, ARD | Actual/360 | 120 |
3 | One Stamford Forum | 0.00500000% | 0.00050000% | 0.00034000% | 4.88386000% | Actual/360 | 413,826.71 | Amortizing Balloon | 120 | |
4 | Renaissance Dallas | 0.02250000% | 0.00050000% | 0.00034000% | 4.36736000% | Actual/360 | 300,456.55 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
5 | Pinnacle II | 0.00500000% | 0.00050000% | 0.00034000% | 4.28296000% | Actual/360 | 145,324.07 | Interest-only, Balloon | Actual/360 | 120 |
6 | Brewers Hill | 0.02250000% | 0.00050000% | 0.00034000% | 4.26736000% | Actual/360 | 197,948.58 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
7 | Simon Premium Outlets | 0.00500000% | 0.00050000% | 0.00034000% | 4.15086000% | Actual/360 | 182,681.73 | Amortizing Balloon | 120 | |
7.01 | Lee Premium Outlets | |||||||||
7.02 | Gaffney Premium Outlets | |||||||||
7.03 | Calhoun Premium Outlets | |||||||||
8 | One Penn Center | 0.00500000% | 0.00050000% | 0.00034000% | 4.88276000% | Actual/360 | 185,754.35 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
9 | Hilton Long Island Huntington | 0.00500000% | 0.00050000% | 0.00034000% | 4.48486000% | Actual/360 | 177,339.86 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
10 | Aurora Office Building | 0.00500000% | 0.00050000% | 0.00034000% | 4.06486000% | Actual/360 | 157,144.68 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
11 | 633 Third Avenue - Retail Condo | 0.00500000% | 0.00050000% | 0.00034000% | 4.38486000% | Actual/360 | 118,962.96 | Interest-only, Balloon | Actual/360 | 120 |
12 | Riverside University Village | 0.00500000% | 0.00050000% | 0.00034000% | 4.94486000% | Actual/360 | 170,311.61 | Amortizing Balloon | 120 | |
13 | FedEx - Atlanta, GA | 0.00500000% | 0.00050000% | 0.00034000% | 4.22556000% | Actual/360 | 50,942.17 | Interest-only, Balloon | Actual/360 | 120 |
14 | FedEx - West Palm Beach, FL | 0.00500000% | 0.00050000% | 0.00034000% | 4.22456000% | Actual/360 | 42,466.76 | Interest-only, Balloon | Actual/360 | 120 |
15 | FedEx - Fife, WA | 0.00500000% | 0.00050000% | 0.00034000% | 4.21716000% | Actual/360 | 72,027.93 | Interest-only, Balloon | Actual/360 | 120 |
16 | 420 East Third Street | 0.00500000% | 0.00050000% | 0.00034000% | 4.09486000% | Actual/360 | 91,917.94 | Amortizing Balloon | 120 | |
17 | Courtyard Marriott - Baldwin Park | 0.00500000% | 0.00050000% | 0.00034000% | 4.98486000% | Actual/360 | 101,996.11 | Amortizing Balloon | 120 | |
18 | Homewood Suites Del Mar | 0.00500000% | 0.00050000% | 0.00034000% | 4.91486000% | Actual/360 | 100,119.72 | Amortizing Balloon | 120 | |
19 | Corporate Center at Kierland | 0.00500000% | 0.00050000% | 0.00034000% | 4.72486000% | Actual/360 | 82,481.38 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
20 | La Crosse Industrial | 0.05250000% | 0.00050000% | 0.00034000% | 4.91736000% | Actual/360 | 93,931.49 | Amortizing Balloon | 120 | |
21 | Southland Terrace Shopping Center | 0.00500000% | 0.00050000% | 0.00034000% | 4.38486000% | Actual/360 | 70,106.53 | Amortizing Balloon | 120 | |
22 | Nassau Bay Town Square | 0.00500000% | 0.00050000% | 0.00034000% | 4.13486000% | Actual/360 | 62,610.11 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
23 | U-Stor-It Lisle | 0.00500000% | 0.00050000% | 0.00034000% | 4.66886000% | Actual/360 | 63,933.06 | Amortizing Balloon | 120 | |
24 | So Cal Self Storage - Northridge | 0.00500000% | 0.00050000% | 0.00034000% | 4.48386000% | Actual/360 | 43,714.24 | Interest-only, Balloon | Actual/360 | 120 |
25 | FedEx Ground - South Bend, IN | 0.00500000% | 0.00050000% | 0.00034000% | 5.08486000% | Actual/360 | 49,553.82 | Interest-only, Balloon | Actual/360 | 120 |
26 | Westland Colonial Village Apartments | 0.00500000% | 0.00050000% | 0.00034000% | 3.68486000% | Actual/360 | 51,551.69 | Amortizing Balloon | 120 | |
27 | Dallas MHC Portfolio | 0.00500000% | 0.00050000% | 0.00034000% | 4.58486000% | Actual/360 | 50,751.79 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
27.01 | Forest Acres MHC and RV Park | |||||||||
27.02 | Woodshire MHC | |||||||||
27.03 | Cobblestone MHC | |||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 0.00500000% | 0.00050000% | 0.00034000% | 4.48386000% | Actual/360 | 36,111.77 | Interest-only, Balloon | Actual/360 | 120 |
29 | FedEx - Boulder, CO | 0.00500000% | 0.00050000% | 0.00034000% | 4.22276000% | Actual/360 | 33,094.47 | Interest-only, Balloon | Actual/360 | 120 |
30 | Brewster Business Park | 0.00500000% | 0.00050000% | 0.00034000% | 4.65486000% | Actual/360 | 43,931.08 | Amortizing Balloon | 120 | |
31 | Bonanza Square | 0.06250000% | 0.00050000% | 0.00034000% | 4.07736000% | Actual/360 | 32,082.82 | Amortizing Balloon | 120 | |
32 | Lakeview and Creek Run Business Park | 0.00500000% | 0.00050000% | 0.00034000% | 4.52786000% | Actual/360 | 33,355.45 | Amortizing Balloon | 120 | |
32.01 | Lakeview Commerce Center | |||||||||
32.02 | Creekrun Business Park | |||||||||
33 | So Cal Self Storage - Camarillo | 0.00500000% | 0.00050000% | 0.00034000% | 4.23486000% | Actual/360 | 23,340.57 | Interest-only, Balloon | Actual/360 | 120 |
34 | South Main Shopping Center | 0.04500000% | 0.00050000% | 0.00034000% | 5.26486000% | Actual/360 | 35,062.48 | Interest-only, Amortizing Balloon | Actual/360 | 180 |
35 | Publix Self Storage | 0.00500000% | 0.00050000% | 0.00034000% | 4.28486000% | Actual/360 | 29,692.29 | Amortizing Balloon | 120 | |
36 | SPS Frederick | 0.00500000% | 0.00050000% | 0.00034000% | 4.61486000% | Actual/360 | 26,236.38 | Amortizing Balloon | 120 | |
37 | Shopko - Redding | 0.00500000% | 0.00050000% | 0.00034000% | 4.36486000% | Actual/360 | 51,530.47 | Fully Amortizing | 120 | |
38 | West Crossing Shopping Center | 0.07250000% | 0.00050000% | 0.00034000% | 4.71736000% | Actual/360 | 23,609.94 | Interest-only, Amortizing Balloon | Actual/360 | 120 |
39 | Passaic Self Storage | 0.00500000% | 0.00050000% | 0.00034000% | 5.09786000% | Actual/360 | 20,662.46 | Amortizing Balloon | 120 | |
40 | NC Storage Center Portfolio | 0.00500000% | 0.00050000% | 0.00034000% | 4.70486000% | Actual/360 | 15,010.40 | Amortizing Balloon | 120 | |
40.01 | Highway 70 Storage Center | |||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Remaining Term to Maturity or ARD (Mos.) | Original IO Period (Mos.) | Remaining IO Period (Mos.) | Original Amort Term (Mos.) | Remaining Amort Term (Mos.) | Seasoning | Prepayment Provisions(6) | Grace Period Default (Days) |
1 | The Shops at Crystals | 119 | 120 | 119 | 0 | 0 | 1 | L(25),D(88),O(7) | 0 |
2 | Vertex Pharmaceuticals HQ | 120 | 120 | 120 | 0 | 0 | 0 | L(24),GRTR 0.5% or YM or D(89),O(7) | 0 |
3 | One Stamford Forum | 119 | 0 | 0 | 300 | 299 | 1 | L(25),GRTR 1% or YM or D(88),O(7) | 2, not more than two times during the term of the loan |
4 | Renaissance Dallas | 118 | 60 | 58 | 360 | 360 | 2 | L(26),D(90),O(4) | 0 |
5 | Pinnacle II | 118 | 120 | 118 | 0 | 0 | 2 | L(36),GRTR 1% or YM(80),O(4) | 0 |
6 | Brewers Hill | 119 | 36 | 35 | 360 | 360 | 1 | L(25),D(91),O(4) | 0 |
7 | Simon Premium Outlets | 118 | 0 | 0 | 360 | 358 | 2 | L(26),D(87),O(7) | 4 |
7.01 | Lee Premium Outlets | ||||||||
7.02 | Gaffney Premium Outlets | ||||||||
7.03 | Calhoun Premium Outlets | ||||||||
8 | One Penn Center | 120 | 36 | 36 | 360 | 360 | 0 | L(24),D(91),O(5) | 0 |
9 | Hilton Long Island Huntington | 120 | 24 | 24 | 360 | 360 | 0 | L(24),D(89),O(7) | 5 |
10 | Aurora Office Building | 120 | 24 | 24 | 360 | 360 | 0 | L(24),D(92),O(4) | 5 |
11 | 633 Third Avenue - Retail Condo | 119 | 120 | 119 | 0 | 0 | 1 | L(36),GRTR 1% or YM(80),O(4) | 0 |
12 | Riverside University Village | 115 | 0 | 0 | 300 | 295 | 5 | L(29),D(87),O(4) | 0 |
13 | FedEx - Atlanta, GA | 118 | 120 | 118 | 0 | 0 | 2 | L(26),D(90),O(4) | 5 days, twice throughout the loan term |
14 | FedEx - West Palm Beach, FL | 118 | 120 | 118 | 0 | 0 | 2 | L(26),D(90),O(4) | 5 days, twice throughout the loan term |
15 | FedEx - Fife, WA | 118 | 120 | 118 | 0 | 0 | 2 | L(26),D(90),O(4) | 5 days, twice throughout the loan term |
16 | 420 East Third Street | 120 | 0 | 0 | 360 | 360 | 0 | L(24),D(89),O(7) | 5 |
17 | Courtyard Marriott - Baldwin Park | 119 | 0 | 0 | 360 | 359 | 1 | L(25),D(91),O(4) | 5 |
18 | Homewood Suites Del Mar | 117 | 0 | 0 | 360 | 357 | 3 | L(36),GRTR 1% or YM(80),O(4) | 0 |
19 | Corporate Center at Kierland | 119 | 36 | 35 | 360 | 360 | 1 | L(25),D(91),O(4) | 4 |
20 | La Crosse Industrial | 109 | 0 | 0 | 300 | 289 | 11 | L(35),D(81),O(4) | 4 |
21 | Southland Terrace Shopping Center | 120 | 0 | 0 | 360 | 360 | 0 | L(36),GRTR 1% or YM(80),O(4) | 0 |
22 | Nassau Bay Town Square | 119 | 24 | 23 | 360 | 360 | 1 | L(25),D(91),O(4) | 0 |
23 | U-Stor-It Lisle | 118 | 0 | 0 | 360 | 358 | 2 | L(26),D(90),O(4) | 4 |
24 | So Cal Self Storage - Northridge | 117 | 120 | 117 | 0 | 0 | 3 | L(36),GRTR 1% or YM(80),O(4) | 0 |
25 | FedEx Ground - South Bend, IN | 117 | 120 | 117 | 0 | 0 | 3 | L(27),D(86),O(7) | 5 |
26 | Westland Colonial Village Apartments | 119 | 0 | 0 | 360 | 359 | 1 | L(25),D(91),O(4) | 5 |
27 | Dallas MHC Portfolio | 119 | 36 | 35 | 360 | 360 | 1 | L(25),D(88),O(7) | 4 |
27.01 | Forest Acres MHC and RV Park | ||||||||
27.02 | Woodshire MHC | ||||||||
27.03 | Cobblestone MHC | ||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 117 | 120 | 117 | 0 | 0 | 3 | L(36),GRTR 1% or YM(80),O(4) | 0 |
29 | FedEx - Boulder, CO | 118 | 120 | 118 | 0 | 0 | 2 | L(26),D(90),O(4) | 5 days, twice throughout the loan term |
30 | Brewster Business Park | 119 | 0 | 0 | 360 | 359 | 1 | L(25),GRTR 1% or YM or D(91),O(4) | 0 |
31 | Bonanza Square | 119 | 0 | 0 | 360 | 359 | 1 | L(25),GRTR 1% or YM(91),O(4) | 0 |
32 | Lakeview and Creek Run Business Park | 119 | 0 | 0 | 360 | 359 | 1 | L(25),D(91),O(4) | 4 |
32.01 | Lakeview Commerce Center | ||||||||
32.02 | Creekrun Business Park | ||||||||
33 | So Cal Self Storage - Camarillo | 118 | 120 | 118 | 0 | 0 | 2 | L(36),GRTR 1% or YM(80),O(4) | 0 |
34 | South Main Shopping Center | 179 | 36 | 35 | 360 | 360 | 1 | L(23),GRTR 1% or YM(96),O(61) | 5 |
35 | Publix Self Storage | 118 | 0 | 0 | 360 | 358 | 2 | L(36),GRTR 1% or YM(80),O(4) | 0 |
36 | SPS Frederick | 117 | 0 | 0 | 360 | 357 | 3 | L(27),GRTR 1% or YM or D(89),O(4) | 0 |
37 | Shopko - Redding | 119 | 0 | 0 | 120 | 119 | 1 | L(25),D(91),O(4) | 0 |
38 | West Crossing Shopping Center | 119 | 24 | 23 | 360 | 360 | 1 | L(25),D(91),O(4) | 5 |
39 | Passaic Self Storage | 118 | 0 | 0 | 360 | 358 | 2 | L(26),D(90),O(4) | 4 |
40 | NC Storage Center Portfolio | 119 | 0 | 0 | 360 | 359 | 1 | L(25),D(91),O(4) | 4 |
40.01 | Highway 70 Storage Center | ||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Grace Period Late (Days) | Appraised Value ($) | Appraisal Date | Coop -Rental Value | Coop - LTV as Rental | Coop - Unsold Percent | Coop - Sponsor Units | Coop - Investor Units | Coop - Units | Coop - Sponsor Carry | Coop - Committed Secondary Debt | U/W NOI DSCR (x)(4)(2) |
1 | The Shops at Crystals | 0 | 1,100,000,000 | 4/26/2016 | 3.41 | ||||||||
2 | Vertex Pharmaceuticals HQ | 0 | 1,198,000,000 | 6/3/2016 | 6.31 | ||||||||
3 | One Stamford Forum | 2 | 227,000,000 | 5/2/2016 | 1.73 | ||||||||
4 | Renaissance Dallas | 5 | 118,800,000 | 3/17/2016 | 2.64 | ||||||||
5 | Pinnacle II | 0 | 142,000,000 | 5/5/2016 | 2.11 | ||||||||
6 | Brewers Hill | 0 | 58,000,000 | 5/26/2016 | 1.64 | ||||||||
7 | Simon Premium Outlets | 0 | 223,700,000 | Various | 2.78 | ||||||||
7.01 | Lee Premium Outlets | 115,000,000 | 4/14/2016 | ||||||||||
7.02 | Gaffney Premium Outlets | 67,200,000 | 4/12/2016 | ||||||||||
7.03 | Calhoun Premium Outlets | 41,500,000 | 4/1/2016 | ||||||||||
8 | One Penn Center | 0 | 91,000,000 | 5/31/2016 | 1.45 | ||||||||
9 | Hilton Long Island Huntington | 0 | 52,300,000 | 5/11/2016 | 2.47 | ||||||||
10 | Aurora Office Building | 0 | 48,400,000 | 6/6/2016 | 1.95 | ||||||||
11 | 633 Third Avenue - Retail Condo | 0 | 50,000,000 | 5/23/2016 | 1.62 | ||||||||
12 | Riverside University Village | 0 | 47,600,000 | 12/9/2015 | 1.44 | ||||||||
13 | FedEx - Atlanta, GA | 5 | 51,750,000 | 4/25/2016 | 2.49 | ||||||||
14 | FedEx - West Palm Beach, FL | 5 | 44,100,000 | 4/21/2016 | 2.49 | ||||||||
15 | FedEx - Fife, WA | 5 | 74,000,000 | 11/20/2015 | 2.51 | ||||||||
16 | 420 East Third Street | 5 | 35,000,000 | 5/25/2016 | 2.07 | ||||||||
17 | Courtyard Marriott - Baldwin Park | 0 | 29,000,000 | 4/14/2016 | 2.07 | ||||||||
18 | Homewood Suites Del Mar | 0 | 27,100,000 | 3/18/2016 | 1.99 | ||||||||
19 | Corporate Center at Kierland | 5 | 24,800,000 | 5/23/2016 | 1.50 | ||||||||
20 | La Crosse Industrial | 5 | 24,800,000 | 6/9/2016 | 1.65 | ||||||||
21 | Southland Terrace Shopping Center | 0 | 22,500,000 | 4/6/2016 | 1.99 | ||||||||
22 | Nassau Bay Town Square | 5 | 18,380,000 | 5/18/2016 | 1.52 | ||||||||
23 | U-Stor-It Lisle | 5 | 17,350,000 | 4/28/2016 | 1.40 | ||||||||
24 | So Cal Self Storage - Northridge | 0 | 21,400,000 | 3/20/2016 | 2.07 | ||||||||
25 | FedEx Ground - South Bend, IN | 5 | 17,000,000 | 11/24/2015 | 1.64 | ||||||||
26 | Westland Colonial Village Apartments | 5 | 16,600,000 | 4/19/2016 | 1.92 | ||||||||
27 | Dallas MHC Portfolio | 5 | 13,415,000 | Various | 1.54 | ||||||||
27.01 | Forest Acres MHC and RV Park | 6,250,000 | 5/3/2016 | ||||||||||
27.02 | Woodshire MHC | 5,165,000 | 4/29/2016 | ||||||||||
27.03 | Cobblestone MHC | 2,000,000 | 4/29/2016 | ||||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 0 | 16,620,000 | 3/18/2016 | 2.11 | ||||||||
29 | FedEx - Boulder, CO | 5 | 34,500,000 | 4/25/2016 | 2.47 | ||||||||
30 | Brewster Business Park | 0 | 11,750,000 | 5/4/2016 | 1.60 | ||||||||
31 | Bonanza Square | 0 | 12,100,000 | 4/21/2016 | 2.49 | ||||||||
32 | Lakeview and Creek Run Business Park | 5 | 8,900,000 | 4/22/2016 | 2.38 | ||||||||
32.01 | Lakeview Commerce Center | 4,450,000 | 4/22/2016 | ||||||||||
32.02 | Creekrun Business Park | 4,450,000 | 4/22/2016 | ||||||||||
33 | So Cal Self Storage - Camarillo | 0 | 12,420,000 | 3/20/2016 | 2.38 | ||||||||
34 | South Main Shopping Center | 0 | 8,840,000 | 5/30/2016 | 1.34 | ||||||||
35 | Publix Self Storage | 0 | 13,870,000 | 4/22/2016 | 2.15 | ||||||||
36 | SPS Frederick | 0 | 9,525,000 | 3/25/2016 | 1.67 | ||||||||
37 | Shopko - Redding | 0 | 13,640,000 | 5/16/2016 | 1.45 | ||||||||
38 | West Crossing Shopping Center | 5 | 6,780,000 | 5/10/2016 | 1.45 | ||||||||
39 | Passaic Self Storage | 5 | 6,130,000 | 4/1/2016 | 1.84 | ||||||||
40 | NC Storage Center Portfolio | 5 | 4,050,000 | 5/17/2016 | 1.74 | ||||||||
40.01 | Highway 70 Storage Center | 2,080,000 | 5/17/2016 | ||||||||||
40.02 | North Cannon Storage Center | 1,970,000 | 5/17/2016 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | U/W NCF DSCR (x)(4)(2) | Cut-off Date LTV Ratio(4)(2) | LTV Ratio at Maturity or ARD(4)(2) | Cut-off Date U/W NOI Debt Yield(4)(2) | Cut-off Date U/W NCF Debt Yield(4)(2) | U/W Revenues ($)(7)(8) | U/W Expenses ($) | U/W Net Operating Income ($) | U/W Replacement ($) | U/W TI/LC ($) | U/W Net Cash Flow ($) | Occupancy Rate |
1 | The Shops at Crystals | 3.28 | 34.8% | 34.8% | 12.9% | 12.4% | 64,805,737 | 15,337,868 | 49,467,869 | 41,972 | 1,815,657 | 47,610,240 | 87.6% |
2 | Vertex Pharmaceuticals HQ | 6.28 | 35.5% | 35.5% | 17.9% | 17.8% | 93,423,532 | 17,361,124 | 76,062,408 | 283,431 | 0 | 75,778,977 | 99.9% |
3 | One Stamford Forum | 1.55 | 48.4% | 36.1% | 12.0% | 10.8% | 21,891,930 | 8,706,883 | 13,185,047 | 126,118 | 1,233,793 | 11,825,136 | 100.0% |
4 | Renaissance Dallas | 2.16 | 50.5% | 46.1% | 15.8% | 13.0% | 34,611,583 | 25,107,534 | 9,504,049 | 1,730,579 | 0 | 7,773,470 | 65.7% |
5 | Pinnacle II | 1.96 | 61.3% | 61.3% | 9.2% | 8.5% | 11,664,912 | 3,645,672 | 8,019,240 | 46,000 | 550,230 | 7,423,010 | 100.0% |
6 | Brewers Hill | 1.40 | 69.0% | 60.1% | 9.7% | 8.3% | 6,258,979 | 2,360,834 | 3,898,144 | 76,443 | 486,860 | 3,334,842 | 92.6% |
7 | Simon Premium Outlets | 2.55 | 46.8% | 37.5% | 16.3% | 15.0% | 24,497,300 | 7,416,196 | 17,081,104 | 211,429 | 1,194,140 | 15,675,535 | 93.7% |
7.01 | Lee Premium Outlets | 10,562,640 | 3,232,812 | 7,329,828 | 71,944 | 474,057 | 6,783,827 | 97.8% | |||||
7.02 | Gaffney Premium Outlets | 8,585,481 | 2,831,998 | 5,753,483 | 75,969 | 429,486 | 5,248,028 | 90.5% | |||||
7.03 | Calhoun Premium Outlets | 5,349,179 | 1,351,386 | 3,997,793 | 63,516 | 290,597 | 3,643,680 | 93.9% | |||||
8 | One Penn Center | 1.26 | 74.7% | 66.0% | 9.2% | 8.0% | 12,747,817 | 6,458,819 | 6,288,997 | 172,492 | 678,757 | 5,437,749 | 78.3% |
9 | Hilton Long Island Huntington | 2.08 | 66.9% | 57.2% | 15.0% | 12.7% | 20,787,543 | 15,525,844 | 5,261,699 | 824,991 | 0 | 4,436,708 | 78.5% |
10 | Aurora Office Building | 1.80 | 67.4% | 56.9% | 11.3% | 10.4% | 3,730,158 | 55,952 | 3,674,206 | 36,706 | 245,929 | 3,391,571 | 100.0% |
11 | 633 Third Avenue - Retail Condo | 1.56 | 64.0% | 64.0% | 7.2% | 7.0% | 3,367,528 | 1,052,351 | 2,315,177 | 8,094 | 76,790 | 2,230,294 | 100.0% |
12 | Riverside University Village | 1.34 | 61.0% | 45.9% | 10.2% | 9.4% | 4,813,094 | 1,864,575 | 2,948,519 | 48,784 | 165,660 | 2,734,075 | 93.6% |
13 | FedEx - Atlanta, GA | 2.40 | 54.3% | 54.3% | 10.7% | 10.3% | 3,396,814 | 347,584 | 3,049,230 | 31,149 | 85,069 | 2,933,012 | 100.0% |
14 | FedEx - West Palm Beach, FL | 2.40 | 54.3% | 54.3% | 10.7% | 10.3% | 3,229,545 | 703,383 | 2,526,162 | 22,520 | 66,267 | 2,437,375 | 100.0% |
15 | FedEx - Fife, WA | 2.43 | 54.4% | 54.4% | 10.8% | 10.4% | 4,945,466 | 607,463 | 4,338,003 | 31,293 | 103,506 | 4,203,204 | 100.0% |
16 | 420 East Third Street | 1.96 | 54.3% | 43.3% | 12.0% | 11.4% | 3,878,665 | 1,597,799 | 2,280,865 | 23,396 | 97,404 | 2,160,065 | 79.5% |
17 | Courtyard Marriott - Baldwin Park | 1.83 | 65.4% | 53.9% | 13.3% | 11.8% | 7,394,776 | 4,861,507 | 2,533,269 | 295,791 | 0 | 2,237,478 | 70.0% |
18 | Homewood Suites Del Mar | 1.78 | 69.1% | 56.9% | 12.7% | 11.4% | 6,150,245 | 3,764,715 | 2,385,530 | 246,010 | 0 | 2,139,520 | 87.9% |
19 | Corporate Center at Kierland | 1.33 | 63.8% | 56.2% | 9.4% | 8.3% | 2,407,679 | 924,877 | 1,482,802 | 50,190 | 121,025 | 1,311,587 | 89.8% |
20 | La Crosse Industrial | 1.40 | 63.7% | 48.5% | 11.8% | 10.0% | 2,770,210 | 908,911 | 1,861,299 | 92,127 | 191,931 | 1,577,241 | 98.3% |
21 | Southland Terrace Shopping Center | 1.74 | 62.2% | 50.1% | 12.0% | 10.5% | 2,265,592 | 589,620 | 1,675,971 | 44,047 | 166,973 | 1,464,951 | 73.4% |
22 | Nassau Bay Town Square | 1.41 | 70.1% | 59.3% | 8.9% | 8.2% | 1,805,583 | 661,897 | 1,143,687 | 10,051 | 72,223 | 1,061,413 | 100.0% |
23 | U-Stor-It Lisle | 1.38 | 71.0% | 57.9% | 8.7% | 8.6% | 1,522,104 | 447,029 | 1,075,075 | 13,706 | 0 | 1,061,369 | 87.6% |
24 | So Cal Self Storage - Northridge | 2.05 | 53.7% | 53.7% | 9.5% | 9.4% | 1,666,557 | 579,755 | 1,086,802 | 11,534 | 0 | 1,075,268 | 83.2% |
25 | FedEx Ground - South Bend, IN | 1.60 | 67.6% | 67.6% | 8.5% | 8.3% | 1,004,978 | 30,149 | 974,829 | 20,836 | 0 | 953,993 | 100.0% |
26 | Westland Colonial Village Apartments | 1.80 | 67.4% | 53.0% | 10.6% | 9.9% | 2,704,109 | 1,516,782 | 1,187,327 | 75,500 | 0 | 1,111,827 | 99.7% |
27 | Dallas MHC Portfolio | 1.52 | 73.8% | 64.8% | 9.5% | 9.3% | 1,647,531 | 707,201 | 940,330 | 14,800 | 0 | 925,530 | 96.3% |
27.01 | Forest Acres MHC and RV Park | 702,148 | 257,944 | 444,204 | 6,650 | 0 | 437,554 | 98.5% | |||||
27.02 | Woodshire MHC | 704,635 | 342,998 | 361,637 | 6,000 | 0 | 355,637 | 95.0% | |||||
27.03 | Cobblestone MHC | 240,748 | 106,259 | 134,489 | 2,150 | 0 | 132,339 | 93.0% | |||||
28 | So Cal Self Storage - Rancho Santa Margarita | 2.08 | 57.2% | 57.2% | 9.6% | 9.5% | 1,414,057 | 501,413 | 912,644 | 9,358 | 0 | 903,286 | 86.8% |
29 | FedEx - Boulder, CO | 2.37 | 53.5% | 53.5% | 10.6% | 10.2% | 2,664,406 | 701,933 | 1,962,473 | 21,103 | 56,436 | 1,884,934 | 100.0% |
30 | Brewster Business Park | 1.43 | 72.3% | 58.8% | 9.9% | 8.9% | 1,332,475 | 488,315 | 844,160 | 34,525 | 53,752 | 755,883 | 100.0% |
31 | Bonanza Square | 2.15 | 54.5% | 43.6% | 14.5% | 12.6% | 1,407,324 | 450,032 | 957,291 | 31,260 | 98,483 | 827,548 | 96.2% |
32 | Lakeview and Creek Run Business Park | 1.89 | 73.5% | 59.6% | 14.6% | 11.6% | 1,436,770 | 483,697 | 953,073 | 30,920 | 164,282 | 757,872 | 99.3% |
32.01 | Lakeview Commerce Center | 763,948 | 261,283 | 502,665 | 14,585 | 78,255 | 409,825 | 98.6% | |||||
32.02 | Creekrun Business Park | 672,822 | 222,414 | 450,408 | 16,335 | 86,027 | 348,047 | 100.0% | |||||
33 | So Cal Self Storage - Camarillo | 2.35 | 52.3% | 52.3% | 10.2% | 10.1% | 1,038,554 | 372,995 | 665,558 | 6,885 | 0 | 658,673 | 92.5% |
34 | South Main Shopping Center | 1.25 | 71.3% | 55.9% | 8.9% | 8.4% | 886,780 | 323,677 | 563,103 | 2,585 | 33,289 | 527,229 | 100.0% |
35 | Publix Self Storage | 2.12 | 43.1% | 34.7% | 12.8% | 12.6% | 1,328,216 | 562,603 | 765,612 | 10,631 | 0 | 754,981 | 88.3% |
36 | SPS Frederick | 1.64 | 53.3% | 43.5% | 10.3% | 10.1% | 896,741 | 372,116 | 524,625 | 9,723 | 0 | 514,902 | 82.7% |
37 | Shopko - Redding | 1.31 | 36.4% | 0.2% | 18.1% | 16.3% | 927,070 | 28,632 | 898,438 | 18,816 | 67,908 | 811,714 | 100.0% |
38 | West Crossing Shopping Center | 1.32 | 66.4% | 57.1% | 9.1% | 8.3% | 597,715 | 187,977 | 409,739 | 2,000 | 32,404 | 375,334 | 100.0% |
39 | Passaic Self Storage | 1.80 | 61.9% | 51.1% | 12.0% | 11.7% | 906,467 | 450,782 | 455,685 | 10,272 | 0 | 445,413 | 81.2% |
40 | NC Storage Center Portfolio | 1.67 | 71.2% | 58.1% | 10.9% | 10.4% | 526,717 | 212,981 | 313,736 | 12,838 | 0 | 300,898 | 94.8% |
40.01 | Highway 70 Storage Center | 259,017 | 100,129 | 158,888 | 7,184 | 0 | 151,704 | 92.0% | |||||
40.02 | North Cannon Storage Center | 267,700 | 112,852 | 154,848 | 5,654 | 0 | 149,194 | 98.4% |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Occupancy as-of Date | U/W Hotel ADR | U/W Hotel RevPAR | Most Recent Period | Most Recent Revenues ($) | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent Capital Expenditures | Most Recent NCF ($) | Most Recent Hotel ADR | Most Recent Hotel RevPAR | Second Most Recent Period | Second Most Recent Revenues ($) |
1 | The Shops at Crystals | 4/21/2016 | Actual 2015 | 65,203,201 | 18,826,390 | 46,376,811 | 0 | 46,376,811 | Actual 2014 | 62,646,345 | ||||
2 | Vertex Pharmaceuticals HQ | 4/30/2016 | Actual 2015 | 88,180,123 | 17,255,195 | 70,924,928 | 0 | 70,924,928 | Actual 2014 | 54,061,350 | ||||
3 | One Stamford Forum | 5/31/2016 | TTM 3/31/2016 | 22,836,419 | 8,422,294 | 14,414,125 | 0 | 14,414,125 | Actual 2015 | 22,493,060 | ||||
4 | Renaissance Dallas | 5/30/2016 | 157 | 103 | TTM 5/30/2016 | 34,836,603 | 24,701,481 | 10,135,122 | 0 | 10,135,122 | 157 | 103 | Actual 2015 | 33,631,404 |
5 | Pinnacle II | 8/1/2016 | TTM 3/31/2016 | 11,236,073 | 3,663,478 | 7,572,595 | 0 | 7,572,595 | Actual 2015 | 11,436,631 | ||||
6 | Brewers Hill | 6/1/2016 | TTM 4/30/2016 | 6,115,566 | 2,275,287 | 3,840,279 | 0 | 3,840,279 | Actual 2015 | 5,815,496 | ||||
7 | Simon Premium Outlets | 5/19/2016 | TTM 3/31/2016 | 25,462,542 | 7,005,132 | 18,457,410 | 0 | 18,457,410 | Actual 2015 | 24,839,795 | ||||
7.01 | Lee Premium Outlets | 5/19/2016 | TTM 3/31/2016 | 11,094,527 | 2,966,058 | 8,128,469 | 0 | 8,128,469 | Actual 2015 | 10,978,548 | ||||
7.02 | Gaffney Premium Outlets | 5/19/2016 | TTM 3/31/2016 | 9,046,000 | 2,724,685 | 6,321,315 | 0 | 6,321,315 | Actual 2015 | 8,783,797 | ||||
7.03 | Calhoun Premium Outlets | 5/19/2016 | TTM 3/31/2016 | 5,322,015 | 1,314,389 | 4,007,626 | 0 | 4,007,626 | Actual 2015 | 5,077,450 | ||||
8 | One Penn Center | 6/1/2016 | TTM 4/30/2016 | 13,322,631 | 6,463,049 | 6,859,582 | 0 | 6,859,582 | Actual 2015 | 13,550,121 | ||||
9 | Hilton Long Island Huntington | 4/30/2016 | 152 | 119 | TTM 4/30/2016 | 20,583,030 | 15,238,106 | 5,344,924 | 823,217 | 4,521,707 | 152 | 119 | Actual 2015 | 20,453,871 |
10 | Aurora Office Building | 8/1/2016 | Actual 2015 | 3,716,004 | 41,296 | 3,674,709 | 0 | 3,674,709 | Actual 2014 | 3,649,620 | ||||
11 | 633 Third Avenue - Retail Condo | 6/29/2016 | TTM 4/30/2016 | 3,251,469 | 960,475 | 2,290,995 | 0 | 2,290,995 | Actual 2015 | 3,232,900 | ||||
12 | Riverside University Village | 7/1/2016 | Actual 2015 | 4,354,459 | 1,388,757 | 2,965,702 | 0 | 2,965,702 | Actual 2014 | 3,946,712 | ||||
13 | FedEx - Atlanta, GA | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
14 | FedEx - West Palm Beach, FL | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
15 | FedEx - Fife, WA | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
16 | 420 East Third Street | 6/1/2016 | TTM 4/30/2016 | 3,410,514 | 1,643,094 | 1,767,420 | 2,257,491 | -490,071 | Actual 2015 | 3,340,857 | ||||
17 | Courtyard Marriott - Baldwin Park | 4/30/2016 | 118 | 82 | TTM 4/30/2016 | 7,956,904 | 4,728,658 | 3,228,246 | 230,708 | 2,997,538 | 118 | 82 | Actual 2015 | 7,492,593 |
18 | Homewood Suites Del Mar | 4/30/2016 | 171 | 136 | TTM 4/30/2016 | 6,287,882 | 3,837,039 | 2,450,843 | 0 | 2,450,843 | 158 | 139 | Actual 2015 | 6,133,873 |
19 | Corporate Center at Kierland | 5/20/2016 | TTM 4/30/2016 | 1,967,815 | 835,430 | 1,132,385 | 0 | 1,132,385 | Actual 2015 | 1,564,201 | ||||
20 | La Crosse Industrial | 5/10/2016 | TTM 3/31/2016 | 2,890,019 | 849,287 | 2,040,732 | 0 | 2,040,732 | Actual 2014 | 2,888,443 | ||||
21 | Southland Terrace Shopping Center | 3/31/2016 | TTM 3/31/2016 | 1,936,551 | 600,518 | 1,336,033 | 0 | 1,336,033 | Actual 2015 | 2,049,230 | ||||
22 | Nassau Bay Town Square | 5/1/2016 | TTM 4/30/2016 | 1,832,080 | 630,321 | 1,201,759 | 0 | 1,201,759 | Actual 2015 | 1,803,386 | ||||
23 | U-Stor-It Lisle | 6/30/2016 | TTM 6/30/2016 | 1,500,776 | 475,203 | 1,025,573 | 0 | 1,025,573 | Actual 2015 | 1,375,629 | ||||
24 | So Cal Self Storage - Northridge | 5/1/2016 | TTM 3/31/2016 | 1,666,557 | 524,087 | 1,142,470 | 0 | 1,142,470 | Actual 2015 | 1,629,000 | ||||
25 | FedEx Ground - South Bend, IN | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
26 | Westland Colonial Village Apartments | 5/31/2016 | TTM 5/31/2016 | 2,702,703 | 1,473,690 | 1,229,013 | 76,000 | 1,153,013 | Actual 2015 | 2,652,149 | ||||
27 | Dallas MHC Portfolio | 4/30/2016 | TTM 3/31/2016 | 1,590,947 | 677,133 | 913,814 | 0 | 913,814 | Actual 2015 | 1,548,263 | ||||
27.01 | Forest Acres MHC and RV Park | 4/30/2016 | TTM 3/31/2016 | 663,509 | 248,048 | 415,461 | 0 | 415,461 | Actual 2015 | 638,561 | ||||
27.02 | Woodshire MHC | 4/30/2016 | TTM 3/31/2016 | 696,609 | 328,454 | 368,155 | 0 | 368,155 | Actual 2015 | 685,264 | ||||
27.03 | Cobblestone MHC | 4/30/2016 | TTM 3/31/2016 | 230,829 | 100,631 | 130,198 | 0 | 130,198 | Actual 2015 | 224,438 | ||||
28 | So Cal Self Storage - Rancho Santa Margarita | 5/1/2016 | TTM 3/31/2016 | 1,414,057 | 478,061 | 935,997 | 0 | 935,997 | Actual 2015 | 1,389,237 | ||||
29 | FedEx - Boulder, CO | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
30 | Brewster Business Park | 6/28/2016 | TTM 5/31/2016 | 1,170,397 | 426,165 | 744,232 | 0 | 744,232 | Actual 2015 | 1,186,266 | ||||
31 | Bonanza Square | 5/31/2016 | TTM 4/30/2016 | 1,342,597 | 428,121 | 914,476 | 0 | 914,476 | Actual 2015 | 1,336,293 | ||||
32 | Lakeview and Creek Run Business Park | 6/1/2016 | TTM 4/30/2016 | 1,469,570 | 415,460 | 1,054,110 | 0 | 1,054,110 | Actual 2015 | 1,387,543 | ||||
32.01 | Lakeview Commerce Center | 6/1/2016 | TTM 4/30/2016 | 719,920 | 217,023 | 502,897 | 0 | 502,897 | Actual 2015 | 662,227 | ||||
32.02 | Creekrun Business Park | 6/1/2016 | TTM 4/30/2016 | 749,650 | 198,437 | 551,213 | 0 | 551,213 | Actual 2015 | 725,316 | ||||
33 | So Cal Self Storage - Camarillo | 5/23/2016 | TTM 3/31/2016 | 1,038,554 | 323,552 | 715,002 | 0 | 715,002 | Actual 2015 | 1,013,351 | ||||
34 | South Main Shopping Center | 6/29/2016 | Actual 2015 | 851,223 | 259,688 | 591,535 | 0 | 591,535 | Actual 2014 | 841,845 | ||||
35 | Publix Self Storage | 2/29/2016 | TTM 3/31/2016 | 1,334,620 | 564,677 | 769,943 | 0 | 769,943 | Actual 2015 | 1,335,468 | ||||
36 | SPS Frederick | 3/10/2016 | TTM 3/31/2016 | 900,576 | 370,676 | 529,901 | 0 | 529,901 | Actual 2015 | 887,538 | ||||
37 | Shopko - Redding | 8/1/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
38 | West Crossing Shopping Center | 3/31/2016 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
39 | Passaic Self Storage | 4/30/2016 | TTM 2/29/2016 | 923,085 | 473,412 | 449,673 | 0 | 449,673 | Actual 2014 | 907,614 | ||||
40 | NC Storage Center Portfolio | 4/30/2016 | TTM 4/30/2016 | 526,717 | 201,001 | 325,716 | 0 | 325,716 | Actual 2015 | 514,971 | ||||
40.01 | Highway 70 Storage Center | 4/30/2016 | TTM 4/30/2016 | 259,017 | 90,688 | 168,329 | 0 | 168,329 | Actual 2015 | 251,786 | ||||
40.02 | North Cannon Storage Center | 4/30/2016 | TTM 4/30/2016 | 267,700 | 110,313 | 157,387 | 0 | 157,387 | Actual 2015 | 263,185 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent Capital Expenditures | Second Most Recent NCF ($) | Second Most Recent Hotel ADR | Second Most Recent Hotel RevPAR | Third Most Recent Period | Third Most Recent Revenues ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent Capital Expenditures |
1 | The Shops at Crystals | 19,004,031 | 43,642,314 | 0 | 43,642,314 | Actual 2013 | 58,100,295 | 18,045,943 | 40,054,352 | 0 | ||
2 | Vertex Pharmaceuticals HQ | 10,133,318 | 43,928,033 | 0 | 43,928,033 | NAV | NAV | NAV | NAV | NAV | ||
3 | One Stamford Forum | 8,409,594 | 14,083,466 | 0 | 14,083,466 | Actual 2014 | 22,231,164 | 8,173,538 | 14,057,626 | 0 | ||
4 | Renaissance Dallas | 23,866,015 | 9,765,389 | 0 | 9,765,389 | 156 | 99 | Actual 2014 | 24,633,644 | 19,328,482 | 5,305,162 | 0 |
5 | Pinnacle II | 3,641,640 | 7,794,991 | 0 | 7,794,991 | Actual 2014 | 11,514,655 | 3,632,177 | 7,882,478 | 0 | ||
6 | Brewers Hill | 2,178,913 | 3,636,583 | 0 | 3,636,583 | Actual 2014 | 6,597,954 | 1,778,614 | 4,819,340 | 0 | ||
7 | Simon Premium Outlets | 6,976,569 | 17,863,226 | 0 | 17,863,226 | Actual 2014 | 24,527,648 | 7,147,919 | 17,379,729 | 0 | ||
7.01 | Lee Premium Outlets | 3,038,663 | 7,939,885 | 0 | 7,939,885 | Actual 2014 | 10,703,151 | 3,085,805 | 7,617,346 | 0 | ||
7.02 | Gaffney Premium Outlets | 2,651,399 | 6,132,398 | 0 | 6,132,398 | Actual 2014 | 8,853,837 | 2,770,460 | 6,083,377 | 0 | ||
7.03 | Calhoun Premium Outlets | 1,286,507 | 3,790,943 | 0 | 3,790,943 | Actual 2014 | 4,970,660 | 1,291,654 | 3,679,006 | 0 | ||
8 | One Penn Center | 6,326,742 | 7,223,379 | 0 | 7,223,379 | Actual 2014 | 13,574,507 | 6,691,359 | 6,883,148 | 0 | ||
9 | Hilton Long Island Huntington | 15,167,902 | 5,285,969 | 818,154 | 4,467,815 | 154 | 118 | Actual 2014 | 19,684,177 | 14,523,769 | 5,160,408 | 787,351 |
10 | Aurora Office Building | 38,498 | 3,611,122 | 0 | 3,611,122 | Actual 2013 | 3,579,358 | 33,452 | 3,545,905 | 0 | ||
11 | 633 Third Avenue - Retail Condo | 960,609 | 2,272,290 | 0 | 2,272,290 | Actual 2014 | 3,072,832 | 669,057 | 2,403,775 | 0 | ||
12 | Riverside University Village | 1,534,086 | 2,412,626 | 0 | 2,412,626 | Actual 2013 | 3,781,280 | 1,517,765 | 2,263,515 | 0 | ||
13 | FedEx - Atlanta, GA | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
14 | FedEx - West Palm Beach, FL | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
15 | FedEx - Fife, WA | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
16 | 420 East Third Street | 1,552,082 | 1,788,775 | 1,305,769 | 483,007 | Actual 2014 | 2,953,281 | 1,445,713 | 1,507,568 | 859,816 | ||
17 | Courtyard Marriott - Baldwin Park | 4,550,531 | 2,942,062 | 206,460 | 2,735,602 | 116 | 76 | Actual 2014 | 7,092,776 | 4,333,279 | 2,759,497 | 206,460 |
18 | Homewood Suites Del Mar | 3,730,401 | 2,403,472 | 0 | 2,403,472 | 157 | 136 | Actual 2014 | 5,561,066 | 3,293,228 | 2,267,838 | 0 |
19 | Corporate Center at Kierland | 786,896 | 777,305 | 0 | 777,305 | Actual 2014 | 1,090,628 | 704,760 | 385,868 | 0 | ||
20 | La Crosse Industrial | 882,474 | 2,005,969 | 0 | 2,005,969 | Actual 2013 | 2,772,737 | 829,486 | 1,943,251 | 0 | ||
21 | Southland Terrace Shopping Center | 595,463 | 1,453,767 | 0 | 1,453,767 | Actual 2014 | 2,044,821 | 612,925 | 1,431,896 | 0 | ||
22 | Nassau Bay Town Square | 603,886 | 1,199,499 | 0 | 1,199,499 | Actual 2014 | 1,403,944 | 480,036 | 923,909 | 0 | ||
23 | U-Stor-It Lisle | 471,465 | 904,164 | 0 | 904,164 | Actual 2014 | 1,145,406 | 417,325 | 728,081 | 0 | ||
24 | So Cal Self Storage - Northridge | 529,595 | 1,099,406 | 0 | 1,099,406 | Actual 2014 | 1,459,435 | 530,805 | 928,630 | 0 | ||
25 | FedEx Ground - South Bend, IN | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
26 | Westland Colonial Village Apartments | 1,441,077 | 1,211,072 | 0 | 1,211,072 | Actual 2014 | 2,612,180 | 1,556,346 | 1,055,834 | 0 | ||
27 | Dallas MHC Portfolio | 690,171 | 858,092 | 0 | 858,092 | Actual 2014 | 1,505,383 | 705,514 | 799,869 | 0 | ||
27.01 | Forest Acres MHC and RV Park | 250,688 | 387,873 | 0 | 387,873 | Actual 2014 | 607,529 | 252,510 | 355,019 | 0 | ||
27.02 | Woodshire MHC | 338,858 | 346,406 | 0 | 346,406 | Actual 2014 | 675,493 | 347,989 | 327,504 | 0 | ||
27.03 | Cobblestone MHC | 100,625 | 123,813 | 0 | 123,813 | Actual 2014 | 222,361 | 105,015 | 117,346 | 0 | ||
28 | So Cal Self Storage - Rancho Santa Margarita | 482,870 | 906,366 | 0 | 906,366 | Actual 2014 | 1,346,303 | 480,444 | 865,859 | 0 | ||
29 | FedEx - Boulder, CO | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
30 | Brewster Business Park | 454,270 | 731,996 | 0 | 731,996 | Actual 2014 | 1,336,220 | 458,915 | 877,305 | 0 | ||
31 | Bonanza Square | 399,409 | 936,884 | 0 | 936,884 | Actual 2014 | 1,411,718 | 345,913 | 1,065,805 | 0 | ||
32 | Lakeview and Creek Run Business Park | 495,068 | 892,475 | 0 | 892,475 | Actual 2014 | 1,339,711 | 477,337 | 862,374 | 0 | ||
32.01 | Lakeview Commerce Center | 264,909 | 397,318 | 0 | 397,318 | Actual 2014 | 654,375 | 262,258 | 392,117 | 0 | ||
32.02 | Creekrun Business Park | 230,159 | 495,157 | 0 | 495,157 | Actual 2014 | 685,336 | 215,079 | 470,257 | 0 | ||
33 | So Cal Self Storage - Camarillo | 321,268 | 692,083 | 0 | 692,083 | Actual 2014 | 917,683 | 312,403 | 605,279 | 0 | ||
34 | South Main Shopping Center | 229,465 | 612,380 | 0 | 612,380 | Actual 2013 | 768,994 | 194,735 | 574,259 | 0 | ||
35 | Publix Self Storage | 560,564 | 774,904 | 0 | 774,904 | Actual 2014 | 1,341,276 | 599,500 | 741,776 | 0 | ||
36 | SPS Frederick | 370,605 | 516,933 | 0 | 516,933 | Actual 2014 | 803,888 | 317,718 | 486,170 | 0 | ||
37 | Shopko - Redding | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
38 | West Crossing Shopping Center | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
39 | Passaic Self Storage | 497,625 | 409,989 | 0 | 409,989 | Actual 2013 | 846,942 | 498,118 | 348,824 | 0 | ||
40 | NC Storage Center Portfolio | 201,198 | 313,773 | 0 | 313,773 | Actual 2014 | 476,668 | 203,718 | 272,950 | 0 | ||
40.01 | Highway 70 Storage Center | 92,786 | 159,000 | 0 | 159,000 | Actual 2014 | 227,592 | 94,403 | 133,189 | 0 | ||
40.02 | North Cannon Storage Center | 108,412 | 154,773 | 0 | 154,773 | Actual 2014 | 249,076 | 109,315 | 139,761 | 0 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Third Most Recent NCF ($) | Third Most Recent Hotel ADR | Third Most Recent Hotel RevPAR | Master Lease (Y/N) | Largest Tenant Name(8)(9)(10)(11) | Largest Tenant Sq. Ft. | Largest Tenant % of NRA | Largest Tenant Exp. Date |
1 | The Shops at Crystals | 40,054,352 | N | Louis Vuitton | 22,745 | 8.7% | 12/31/2019 | ||
2 | Vertex Pharmaceuticals HQ | NAV | Y | Vertex Pharmaceuticals | 1,082,417 | 95.5% | 12/31/2028 | ||
3 | One Stamford Forum | 14,057,626 | N | UBS Group AG | 337,456 | 66.9% | 12/31/2020 | ||
4 | Renaissance Dallas | 5,305,162 | 138 | 81 | N | ||||
5 | Pinnacle II | 7,882,478 | N | Warner Brothers Entertainment Inc | 230,000 | 100.0% | 12/31/2021 | ||
6 | Brewers Hill | 4,819,340 | N | Canton Self Storage | 112,000 | 29.3% | 5/31/2045 | ||
7 | Simon Premium Outlets | 17,379,729 | N | Various | Various | Various | Various | ||
7.01 | Lee Premium Outlets | 7,617,346 | N | Gap Outlet | 12,113 | 5.4% | 6/30/2017 | ||
7.02 | Gaffney Premium Outlets | 6,083,377 | N | Pottery Barn Furniture Outlet | 18,286 | 6.0% | 1/31/2020 | ||
7.03 | Calhoun Premium Outlets | 3,679,006 | N | V.F. Factory Outlet | 26,000 | 10.2% | 9/30/2020 | ||
8 | One Penn Center | 6,883,148 | N | Philadelphia Works, Inc. | 74,155 | 10.7% | 12/31/2020 | ||
9 | Hilton Long Island Huntington | 4,373,057 | 155 | 112 | N | ||||
10 | Aurora Office Building | 3,545,905 | N | Northrop Grumman | 183,529 | 100.0% | 11/30/2022 | ||
11 | 633 Third Avenue - Retail Condo | 2,403,775 | N | New York Sports Club | 23,700 | 58.6% | 5/31/2018 | ||
12 | Riverside University Village | 2,263,515 | N | Regency Theatres | 41,915 | 23.3% | 12/31/2021 | ||
13 | FedEx - Atlanta, GA | NAV | N | FedEx Ground Package System, Inc. | 311,489 | 100.0% | 1/31/2031 | ||
14 | FedEx - West Palm Beach, FL | NAV | N | FedEx Ground Package System, Inc. | 225,198 | 100.0% | 12/31/2030 | ||
15 | FedEx - Fife, WA | NAV | N | FedEx Ground Package System, Inc. | 312,928 | 100.0% | 10/31/2030 | ||
16 | 420 East Third Street | 647,752 | N | Board of Supervisors/County of Los Angeles | 8,526 | 7.3% | 5/31/2022 | ||
17 | Courtyard Marriott - Baldwin Park | 2,553,037 | 111 | 73 | N | ||||
18 | Homewood Suites Del Mar | 2,267,838 | 153 | 124 | N | ||||
19 | Corporate Center at Kierland | 385,868 | N | American Express Global Business Travel | 56,608 | 52.5% | 9,974 expiring on 2/14/19; 46,634 expiring on 7/26/26 | ||
20 | La Crosse Industrial | 1,943,251 | N | The City Brewing Co., LLC | 366,275 | 47.7% | 12/31/2021 | ||
21 | Southland Terrace Shopping Center | 1,431,896 | N | Kroger Limited Partnership | 51,460 | 23.4% | 5/31/2018 | ||
22 | Nassau Bay Town Square | 923,909 | N | GH III Management, LLC | 8,448 | 16.8% | 4/30/2024 | ||
23 | U-Stor-It Lisle | 728,081 | N | ||||||
24 | So Cal Self Storage - Northridge | 928,630 | N | ||||||
25 | FedEx Ground - South Bend, IN | NAV | N | Fedex Ground Package System, Inc. | 208,361 | 100.0% | 10/22/2030 | ||
26 | Westland Colonial Village Apartments | 1,055,834 | N | ||||||
27 | Dallas MHC Portfolio | 799,869 | N | ||||||
27.01 | Forest Acres MHC and RV Park | 355,019 | N | ||||||
27.02 | Woodshire MHC | 327,504 | N | ||||||
27.03 | Cobblestone MHC | 117,346 | N | ||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 865,859 | N | ||||||
29 | FedEx - Boulder, CO | NAV | N | FedEx Ground Package System, Inc. | 211,030 | 100.0% | 2/28/2031 | ||
30 | Brewster Business Park | 877,305 | N | Matco-Norca, LLC | 69,100 | 52.0% | 5/31/2027 | ||
31 | Bonanza Square | 1,065,805 | N | Cardenas Markets | 36,000 | 33.4% | 12/31/2020 | ||
32 | Lakeview and Creek Run Business Park | 862,374 | N | Various | Various | Various | Various | ||
32.01 | Lakeview Commerce Center | 392,117 | N | PharMerica East, Inc. | 12,050 | 12.2% | 2/28/2017 | ||
32.02 | Creekrun Business Park | 470,257 | N | Liqui-Box Corporation | 24,000 | 22.0% | 1/16/2022 | ||
33 | So Cal Self Storage - Camarillo | 605,279 | N | ||||||
34 | South Main Shopping Center | 574,259 | N | Chase | 3,585 | 20.8% | 11/29/2026 | ||
35 | Publix Self Storage | 741,776 | N | ||||||
36 | SPS Frederick | 486,170 | N | ||||||
37 | Shopko - Redding | NAV | N | Shopko Stores Operating Co, LLC | 94,078 | 100.0% | 12/31/2031 | ||
38 | West Crossing Shopping Center | NAV | N | Mattress Firm, Inc. | 4,180 | 31.3% | 12/31/2019 | ||
39 | Passaic Self Storage | 348,824 | N | ||||||
40 | NC Storage Center Portfolio | 272,950 | N | ||||||
40.01 | Highway 70 Storage Center | 133,189 | N | ||||||
40.02 | North Cannon Storage Center | 139,761 | N |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | 2nd Largest Tenant Name(8)(9)(10)(11) | 2nd Largest Tenant Sq. Ft. | 2nd Largest Tenant % of NRA | 2nd Largest Tenant Exp. Date |
1 | The Shops at Crystals | Prada | 15,525 | 5.9% | 12/31/2019 |
2 | Vertex Pharmaceuticals HQ | Bright Horizons Children’s Center | 12,665 | 1.1% | 5/1/2035 |
3 | One Stamford Forum | Purdue Pharma L.P. | 167,015 | 33.1% | 12/31/2020 |
4 | Renaissance Dallas | ||||
5 | Pinnacle II | ||||
6 | Brewers Hill | Cigna | 73,880 | 19.3% | Multiple Leases -- 69,110 square feet expiring 11/30/2019; 4,770 square feet expiring 6/30/2017 |
7 | Simon Premium Outlets | Various | Various | Various | Various |
7.01 | Lee Premium Outlets | Nike Factory Store | 9,966 | 4.4% | 6/30/2019 |
7.02 | Gaffney Premium Outlets | Nike Factory Store | 11,620 | 3.8% | 10/31/2016 |
7.03 | Calhoun Premium Outlets | Old Navy | 12,000 | 4.7% | MTM |
8 | One Penn Center | United States Government - SEC | 44,765 | 6.5% | 4/10/2024 |
9 | Hilton Long Island Huntington | ||||
10 | Aurora Office Building | ||||
11 | 633 Third Avenue - Retail Condo | JP Morgan Chase | 16,468 | 40.7% | 9/30/2023 |
12 | Riverside University Village | Regents of UCR - UNEX | 12,726 | 7.1% | 9/11/2016 (4,836 SF); 1/22/2017 (7,890 SF) |
13 | FedEx - Atlanta, GA | ||||
14 | FedEx - West Palm Beach, FL | ||||
15 | FedEx - Fife, WA | ||||
16 | 420 East Third Street | Third Street Surgery Center, LP | 7,996 | 6.9% | 12/31/2028 |
17 | Courtyard Marriott - Baldwin Park | ||||
18 | Homewood Suites Del Mar | ||||
19 | Corporate Center at Kierland | Americana Arizona, LLC | 16,872 | 15.6% | 2/28/2021 |
20 | La Crosse Industrial | Ashley Furniture Industries | 360,000 | 46.9% | 12/31/2022 |
21 | Southland Terrace Shopping Center | Rainbow USA, Inc. | 25,000 | 11.4% | 1/31/2021 |
22 | Nassau Bay Town Square | Texas Citizens Bank, N.A. | 5,754 | 11.5% | 10/31/2025 |
23 | U-Stor-It Lisle | ||||
24 | So Cal Self Storage - Northridge | ||||
25 | FedEx Ground - South Bend, IN | ||||
26 | Westland Colonial Village Apartments | ||||
27 | Dallas MHC Portfolio | ||||
27.01 | Forest Acres MHC and RV Park | ||||
27.02 | Woodshire MHC | ||||
27.03 | Cobblestone MHC | ||||
28 | So Cal Self Storage - Rancho Santa Margarita | ||||
29 | FedEx - Boulder, CO | ||||
30 | Brewster Business Park | Diversified Transport Service | 18,685 | 14.1% | 7/31/2023 |
31 | Bonanza Square | Sun Rx Drugs | 12,120 | 11.2% | 5/31/2021 |
32 | Lakeview and Creek Run Business Park | Various | Various | Various | Various |
32.01 | Lakeview Commerce Center | BSP Lakeview LLC | 8,282 | 8.4% | 10/8/2018 |
32.02 | Creekrun Business Park | AAA Ohio Automotive Club | 18,300 | 16.8% | 12/31/2019 |
33 | So Cal Self Storage - Camarillo | ||||
34 | South Main Shopping Center | T-Mobile | 2,774 | 16.1% | 4/30/2022 |
35 | Publix Self Storage | ||||
36 | SPS Frederick | ||||
37 | Shopko - Redding | ||||
38 | West Crossing Shopping Center | T-Mobile | 2,937 | 22.0% | 5/31/2023 |
39 | Passaic Self Storage | ||||
40 | NC Storage Center Portfolio | ||||
40.01 | Highway 70 Storage Center | ||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | 3rd Largest Tenant Name(8)(9) | 3rd Largest Tenant Sq. Ft. | 3rd Largest Tenant % of NRA | 3rd Largest Tenant Exp. Date | 4th Largest Tenant Name(8)(10) | 4th Largest Tenant Sq. Ft. | 4th Largest Tenant % of NRA | 4th Largest Tenant Exp. Date |
1 | The Shops at Crystals | Gucci | 10,952 | 4.2% | 12/31/2025 | Tiffany & Co. | 10,000 | 3.8% | 1/31/2024 |
2 | Vertex Pharmaceuticals HQ | Babbo Enoteca Fp, LLC | 9,117 | 0.8% | 9/1/2025 | Master Lease | 7,300 | 0.6% | 5/1/2029 |
3 | One Stamford Forum | ||||||||
4 | Renaissance Dallas | ||||||||
5 | Pinnacle II | ||||||||
6 | Brewers Hill | AOL Advertising | 46,587 | 12.2% | 6/30/2022 | GES Exposition Services | 25,017 | 6.5% | 4/30/2019 |
7 | Simon Premium Outlets | Various | Various | Various | Various | Various | Various | Various | Various |
7.01 | Lee Premium Outlets | Banana Republic Factory Store | 8,756 | 3.9% | 8/31/2017 | Dress Barn | 7,781 | 3.5% | MTM |
7.02 | Gaffney Premium Outlets | Gap Outlet | 8,970 | 3.0% | 7/31/2019 | Banana Republic Factory Store | 8,584 | 2.8% | 5/31/2019 |
7.03 | Calhoun Premium Outlets | Loft Outlet | 12,000 | 4.7% | 10/31/2017 | Rak Outfitters | 11,652 | 4.6% | 1/31/2021 |
8 | One Penn Center | Phelan Hallinan & Schmieg, LLP | 35,989 | 5.2% | 1/31/2020 | Mcelroy Deutsch Mulvaney Et | 21,130 | 3.1% | 10/31/2021 |
9 | Hilton Long Island Huntington | ||||||||
10 | Aurora Office Building | ||||||||
11 | 633 Third Avenue - Retail Condo | Gateway News Stand | 300 | 0.7% | 6/30/2017 | ||||
12 | Riverside University Village | Regents of UCR - Design & Construction | 8,946 | 5.0% | 10/17/2016 | Regents of UCR | 8,579 | 4.8% | 7/31/2017 |
13 | FedEx - Atlanta, GA | ||||||||
14 | FedEx - West Palm Beach, FL | ||||||||
15 | FedEx - Fife, WA | ||||||||
16 | 420 East Third Street | Pacific Commerce Bank | 7,948 | 6.8% | 8/31/2017 | Premiere Practice Management, Inc. | 7,749 | 6.7% | 12/31/2028 |
17 | Courtyard Marriott - Baldwin Park | ||||||||
18 | Homewood Suites Del Mar | ||||||||
19 | Corporate Center at Kierland | New Enchantment, LLC | 6,078 | 5.6% | 5/31/2019 | Prospect Mortgage, LLC | 5,241 | 4.9% | 4/30/2017 |
20 | La Crosse Industrial | Dick’s Pallet Works | 17,686 | 2.3% | 12/31/2020 | Western Technical College | 11,011 | 1.4% | 12/31/2016 |
21 | Southland Terrace Shopping Center | Harbor Freight Tools | 15,000 | 6.8% | 8/31/2022 | Dollar Tree Stores, Inc. | 12,000 | 5.4% | 1/31/2020 |
22 | Nassau Bay Town Square | Bay Area Houston Economic Partnership | 5,588 | 11.1% | 6/13/2020 | GSM Wings, LLC | 5,044 | 10.0% | 1/31/2021 |
23 | U-Stor-It Lisle | ||||||||
24 | So Cal Self Storage - Northridge | ||||||||
25 | FedEx Ground - South Bend, IN | ||||||||
26 | Westland Colonial Village Apartments | ||||||||
27 | Dallas MHC Portfolio | ||||||||
27.01 | Forest Acres MHC and RV Park | ||||||||
27.02 | Woodshire MHC | ||||||||
27.03 | Cobblestone MHC | ||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | ||||||||
29 | FedEx - Boulder, CO | ||||||||
30 | Brewster Business Park | EMC Pet Products, Inc. | 16,630 | 12.5% | 10/31/2017 | Putnam Steel Inc. | 8,960 | 6.7% | 12/31/2017 |
31 | Bonanza Square | Moda Latina | 11,500 | 10.7% | 12/31/2016 | Koster Finance | 6,120 | 5.7% | 9/30/2016 |
32 | Lakeview and Creek Run Business Park | Various | Various | Various | Various | Various | Various | Various | Various |
32.01 | Lakeview Commerce Center | Comfort Systems (Ohio) USA Inc | 6,150 | 6.2% | 12/31/2020 | Mid-Ohio Select Soccer League | 5,600 | 5.7% | 4/30/2019 |
32.02 | Creekrun Business Park | Piedmont Plastics Company, Inc | 16,000 | 14.7% | 2/28/2018 | First Choice Communications | 7,200 | 6.6% | 3/31/2018 |
33 | So Cal Self Storage - Camarillo | ||||||||
34 | South Main Shopping Center | Schlotzsky’s | 2,400 | 13.9% | 1/20/2017 | Wingstop | 1,950 | 11.3% | 7/31/2018 |
35 | Publix Self Storage | ||||||||
36 | SPS Frederick | ||||||||
37 | Shopko - Redding | ||||||||
38 | West Crossing Shopping Center | Cloud 9 Nails and Spa | 2,368 | 17.8% | 6/30/2020 | Sparkles Dental | 2,200 | 16.5% | 10/31/2025 |
39 | Passaic Self Storage | ||||||||
40 | NC Storage Center Portfolio | ||||||||
40.01 | Highway 70 Storage Center | ||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | 5th Largest Tenant Name(9) | 5th Largest Tenant Sq. Ft. | 5th Largest Tenant % of NRA | 5th Largest Tenant Exp. Date | Engineering Report Date | Environmental Report Date (Phase I) | Environmental Report Date (Phase II) | Seismic Report Date | Seismic PML % | Seismic Insurance Required (Y/N) | Terrorism Insurance (Y/N) |
1 | The Shops at Crystals | Ermenegildo Zegna | 9,926 | 3.8% | 12/31/2020 | 5/13/2016 | 2/5/2016 | N | Y | |||
2 | Vertex Pharmaceuticals HQ | Pier 50 LLC | 6,704 | 0.6% | 10/1/2024 | 6/14/2016 | 6/10/2016 | N | Y | |||
3 | One Stamford Forum | 5/5/2016 | 5/5/2016 | N | Y | |||||||
4 | Renaissance Dallas | 4/27/2016 | 3/25/2016 | N | Y | |||||||
5 | Pinnacle II | 5/16/2016 | 5/16/2016 | 5/16/2016 | 10.0% | N | Y | |||||
6 | Brewers Hill | DDG | 22,985 | 6.0% | 12/31/2024 | 3/7/2016 | 3/8/2016 | N | Y | |||
7 | Simon Premium Outlets | Various | Various | Various | Various | 4/21/2016 | 4/21/2016 | N | Y | |||
7.01 | Lee Premium Outlets | Polo Ralph Lauren | 7,683 | 3.4% | 5/31/2017 | 4/21/2016 | 4/21/2016 | N | Y | |||
7.02 | Gaffney Premium Outlets | Dress Barn | 7,986 | 2.6% | 12/31/2016 | 4/21/2016 | 4/21/2016 | N | Y | |||
7.03 | Calhoun Premium Outlets | Polo Ralph Lauren | 10,200 | 4.0% | 1/31/2021 | 4/21/2016 | 4/21/2016 | N | Y | |||
8 | One Penn Center | Qtc Management, Inc. | 19,879 | 2.9% | 3/31/2017 | 6/2/2016 | 6/3/2016 | N | Y | |||
9 | Hilton Long Island Huntington | 5/27/2016 | 5/27/2016 | N | Y | |||||||
10 | Aurora Office Building | 6/14/2016 | 6/14/2016 | N | Y | |||||||
11 | 633 Third Avenue - Retail Condo | 5/20/2016 | 5/20/2016 | N | Y | |||||||
12 | Riverside University Village | Regents of UCR - Accounting | 7,634 | 4.2% | 11/30/2018 | 12/22/2015 | 12/22/2015 | 12/16/2015 | 11.0% | N | Y | |
13 | FedEx - Atlanta, GA | 4/29/2016 | 4/29/2016 | N | Y | |||||||
14 | FedEx - West Palm Beach, FL | 4/29/2016 | 4/29/2016 | N | Y | |||||||
15 | FedEx - Fife, WA | 11/30/2015 | 12/9/2015 | 11/30/2015 | 9.0% | N | Y | |||||
16 | 420 East Third Street | US Renal | 7,678 | 6.6% | 1/5/2026 | 6/6/2016 | 6/6/2016 | 6/6/2016 | 14.0% | N | Y | |
17 | Courtyard Marriott - Baldwin Park | 4/21/2016 | 4/21/2016 | 4/21/2016 | 14.0% | N | Y | |||||
18 | Homewood Suites Del Mar | 4/5/2016 | 4/5/2016 | 4/5/2016 | 6.0% | N | Y | |||||
19 | Corporate Center at Kierland | Alliance Financial Resources | 3,523 | 3.3% | 12/14/2020 | 5/23/2016 | 5/23/2016 | N | Y | |||
20 | La Crosse Industrial | 6/27/2016 | 6/27/2016 | N | Y | |||||||
21 | Southland Terrace Shopping Center | Ocean Dental of Kentucky | 7,095 | 3.2% | 7/31/2017 | 4/6/2016 | 4/6/2016 | N | Y | |||
22 | Nassau Bay Town Square | Berkeley Eye Institute, P.A. | 4,581 | 9.1% | 8/31/2024 | 5/19/2016 | 5/23/2016 | N | Y | |||
23 | U-Stor-It Lisle | 5/3/2016 | 5/3/2016 | N | Y | |||||||
24 | So Cal Self Storage - Northridge | 3/29/2016 | 3/29/2016 | 3/29/2016 | 12.0% | N | Y | |||||
25 | FedEx Ground - South Bend, IN | 12/4/2015 | 12/9/2015 | N | Y | |||||||
26 | Westland Colonial Village Apartments | 5/6/2016 | 5/6/2016 | N | Y | |||||||
27 | Dallas MHC Portfolio | 5/11/2016 | 5/11/2016 | N | Y | |||||||
27.01 | Forest Acres MHC and RV Park | 5/11/2016 | 5/11/2016 | N | Y | |||||||
27.02 | Woodshire MHC | 5/11/2016 | 5/11/2016 | N | Y | |||||||
27.03 | Cobblestone MHC | 5/11/2016 | 5/11/2016 | N | Y | |||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 3/29/2016 | 3/29/2016 | 3/29/2016 | 15.0% | N | Y | |||||
29 | FedEx - Boulder, CO | 4/29/2016 | 4/29/2016 | N | Y | |||||||
30 | Brewster Business Park | Health Flavors | 6,000 | 4.5% | 5/31/2019 | 5/12/2016 | 5/13/2016 | N | Y | |||
31 | Bonanza Square | Rent A Center | 5,412 | 5.0% | 2/28/2018 | 4/28/2016 | 4/29/2016 | N | Y | |||
32 | Lakeview and Creek Run Business Park | Various | Various | Various | Various | 4/18/2016 | 4/18/2016 | N | Y | |||
32.01 | Lakeview Commerce Center | Robin Technologies Inc. | 4,425 | 4.5% | 12/31/2020 | 4/18/2016 | 4/18/2016 | N | Y | |||
32.02 | Creekrun Business Park | Exclusively Floors, LLC | 7,004 | 6.4% | 12/31/2017 | 4/18/2016 | 4/18/2016 | N | Y | |||
33 | So Cal Self Storage - Camarillo | 3/29/2016 | 3/29/2016 | 3/29/2016 | 12.0% | N | Y | |||||
34 | South Main Shopping Center | FedEx Kinkos | 1,824 | 10.6% | 11/30/2026 | 6/6/2016 | 6/6/2016 | N | Y | |||
35 | Publix Self Storage | 4/28/2016 | 4/28/2016 | 4/28/2016 | 12.0% | N | Y | |||||
36 | SPS Frederick | 3/30/2016 | 3/31/2016 | N | Y | |||||||
37 | Shopko - Redding | 5/24/2016 | 5/24/2016 | 10.0% | N | Y | ||||||
38 | West Crossing Shopping Center | Jimmy John’s Gourmet Sandwiches | 1,650 | 12.4% | 3/31/2025 | 5/16/2016 | 5/20/2016 | N | Y | |||
39 | Passaic Self Storage | 4/7/2016 | 4/7/2016 | N | Y | |||||||
40 | NC Storage Center Portfolio | Various | Various | N | Y | |||||||
40.01 | Highway 70 Storage Center | 5/16/2016 | 5/16/2016 | N | Y | |||||||
40.02 | North Cannon Storage Center | 6/8/2016 | 5/17/2016 | N | Y |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Loan Purpose | Engineering Escrow / Deferred Maintenance ($) | Tax Escrow (Initial) | Monthly Tax Escrow ($) | Tax Escrow - Cash or LoC | Tax Escrow - LoC Counterparty | Insurance Escrow (Initial) | Monthly Insurance Escrow ($) | Insurance Escrow - Cash or LoC | Insurance Escrow - LoC Counterparty | Upfront Replacement Reserve ($) | Monthly Replacement Reserve ($)(12) |
1 | The Shops at Crystals | Recapitalization | 0 | 0 | Springing | 0 | Springing | 0 | Springing | ||||
2 | Vertex Pharmaceuticals HQ | Refinance | 0 | 0 | Springing | 0 | Springing | 0 | 0 | ||||
3 | One Stamford Forum | Refinance | 15,188 | 230,359 | 230,359 | Cash | 58,814 | 19,605 | Cash | 0 | 0 | ||
4 | Renaissance Dallas | Refinance | 0 | 0 | Springing | 0 | Springing | 0 | Springing | ||||
5 | Pinnacle II | Refinance | 0 | 370,935 | 123,645 | Cash | 0 | Springing | 0 | Springing | |||
6 | Brewers Hill | Refinance | 0 | 53,116 | 53,118 | Cash | 0 | Springing | 0 | 6,370 | |||
7 | Simon Premium Outlets | Refinance | 0 | 0 | Springing | 0 | Springing | 0 | Springing | ||||
7.01 | Lee Premium Outlets | ||||||||||||
7.02 | Gaffney Premium Outlets | ||||||||||||
7.03 | Calhoun Premium Outlets | ||||||||||||
8 | One Penn Center | Refinance | 0 | 582,019 | 116,404 | Cash | 0 | Springing | 0 | 14,374 | |||
9 | Hilton Long Island Huntington | Acquisition | 0 | 334,631 | 83,658 | Cash | 0 | Springing | 0 | 68,724 | |||
10 | Aurora Office Building | Refinance | 0 | 0 | Springing | 0 | Springing | 0 | 1,529; Springing | ||||
11 | 633 Third Avenue - Retail Condo | Refinance | 0 | 38,790 | 38,789 | Cash | 0 | Springing | 675 | 675 | |||
12 | Riverside University Village | Acquisition | 116,250 | 0 | 26,625 | Cash | 11,757 | 5,879 | Cash | 0 | 7,505 | ||
13 | FedEx - Atlanta, GA | Acquisition | 0 | 205,006 | 22,778 | Cash | 0 | Springing | 0 | 0 | |||
14 | FedEx - West Palm Beach, FL | Acquisition | 0 | 208,069 | 52,017 | Cash | 0 | Springing | 0 | 0 | |||
15 | FedEx - Fife, WA | Acquisition | 0 | 22,237 | 43,006 | Cash | 0 | Springing | 0 | 0 | |||
16 | 420 East Third Street | Refinance | 0 | 121,085 | 24,217 | Cash | 7,812 | 3,906 | Cash | 0 | 1,950 | ||
17 | Courtyard Marriott - Baldwin Park | Refinance | 0 | 55,436 | 13,859 | Cash | 0 | Springing | 0 | 24,649 | |||
18 | Homewood Suites Del Mar | Refinance | 0 | 52,962 | 17,654 | Cash | 0 | Springing | 0 | 20,446 | |||
19 | Corporate Center at Kierland | Acquisition | 20,625 | 100,514 | 25,128 | Cash | 2,305 | 1,153 | Cash | 0 | 4,044 | ||
20 | La Crosse Industrial | Refinance | 158,750 | 434,404 | 39,491 | Cash | 84,755 | 8,177 | Cash | 0 | 6,398 | ||
21 | Southland Terrace Shopping Center | Refinance | 64,125 | 157,721 | 17,525 | Cash | 5,474 | 2,740 | Cash | 0 | Springing | ||
22 | Nassau Bay Town Square | Acquisition | 0 | 94,313 | 13,473 | Cash | 0 | Springing | 0 | 838 | |||
23 | U-Stor-It Lisle | Refinance | 60,938 | 53,854 | 13,463 | Cash | 0 | Springing | 8,170 | 821 | |||
24 | So Cal Self Storage - Northridge | Refinance | 0 | 16,013 | 8,006 | Cash | 0 | Springing | 0 | Springing | |||
25 | FedEx Ground - South Bend, IN | Acquisition | 0 | 0 | Springing | 0 | Springing | 0 | Springing | ||||
26 | Westland Colonial Village Apartments | Refinance | 0 | 158,924 | 22,122 | Cash | 109,438 | 9,850 | Cash | 0 | 6,292 | ||
27 | Dallas MHC Portfolio | Acquisition | 289,830 | 81,146 | 11,592 | Cash | 4,513 | 2,256 | Cash | 0 | 1,233 | ||
27.01 | Forest Acres MHC and RV Park | ||||||||||||
27.02 | Woodshire MHC | ||||||||||||
27.03 | Cobblestone MHC | ||||||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | Refinance | 0 | 21,287 | 10,644 | Cash | 0 | Springing | 0 | Springing | |||
29 | FedEx - Boulder, CO | Acquisition | 0 | 0 | 53,508 | 0 | Springing | 0 | 0 | ||||
30 | Brewster Business Park | Refinance | 44,375 | 268,754 | 24,682 | Cash | 16,870 | 2,812 | Cash | 0 | 4,094 | ||
31 | Bonanza Square | Refinance | 374,893 | 24,630 | 4,926 | Cash | 5,892 | 1,964 | Cash | 0 | 2,605 | ||
32 | Lakeview and Creek Run Business Park | Acquisition | 177,625 | 12,092 | 12,092 | Cash | 0 | Springing | 0 | 0 | |||
32.01 | Lakeview Commerce Center | ||||||||||||
32.02 | Creekrun Business Park | ||||||||||||
33 | So Cal Self Storage - Camarillo | Refinance | 0 | 8,982 | 2,994 | Cash | 0 | Springing | 0 | Springing | |||
34 | South Main Shopping Center | Acquisition | 6,375 | 102,778 | 14,683 | Cash | 0 | Springing | 0 | 215 | |||
35 | Publix Self Storage | Refinance | 0 | 40,810 | 8,162 | Cash | 0 | Springing | 32,076 | 891 | |||
36 | SPS Frederick | Refinance | 0 | 0 | Springing | 0 | Springing | 0 | Springing | ||||
37 | Shopko - Redding | Acquisition | 0 | 0 | Springing | 0 | Springing | 0 | 1,568 | ||||
38 | West Crossing Shopping Center | Refinance | 0 | 66,536 | 9,505 | Cash | 0 | Springing | 0 | 167 | |||
39 | Passaic Self Storage | Refinance | 11,813 | 28,549 | 9,516 | Cash | 0 | Springing | 0 | 856 | |||
40 | NC Storage Center Portfolio | Acquisition | 32,500 | 9,702 | 2,812 | Cash | 0 | Springing | 14,500 | 947 | |||
40.01 | Highway 70 Storage Center | ||||||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Replacement Reserve Cap ($) | Replacement Reserve Escrow - Cash or LoC | Replacement Reserve Escrow - LoC Counterparty | Upfront TI/LC Reserve ($) | Monthly TI/LC Reserve ($)(13)(14) | TI/LC Reserve Cap ($)(13)(14) | TI/LC Escrow - Cash or LoC | TI/LC Escrow - LoC Counterparty | Debt Service Escrow (Initial) ($) | Debt Service Escrow (Monthly) ($) | Debt Service Escrow - Cash or LoC |
1 | The Shops at Crystals | 0 | 0 | Springing | 4,440,000 | 0 | 0 | |||||
2 | Vertex Pharmaceuticals HQ | 0 | 0 | 0 | 0 | 0 | 0 | |||||
3 | One Stamford Forum | 0 | 0 | 0 | 0 | 0 | 0 | |||||
4 | Renaissance Dallas | 0 | 0 | 0 | 0 | 0 | 0 | |||||
5 | Pinnacle II | 0 | 0 | 0 | 0 | 0 | 0 | |||||
6 | Brewers Hill | 0 | Cash | 1,500,000 | 48,000 | 0 | Cash | 0 | 0 | |||
7 | Simon Premium Outlets | 0 | 0 | Springing | 0 | 0 | 0 | |||||
7.01 | Lee Premium Outlets | |||||||||||
7.02 | Gaffney Premium Outlets | |||||||||||
7.03 | Calhoun Premium Outlets | |||||||||||
8 | One Penn Center | 0 | Cash | 3,000,000 | 150,000 | 3,000,000 | Cash | 0 | 0 | |||
9 | Hilton Long Island Huntington | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
10 | Aurora Office Building | 0 | Cash | 0 | 45,833 | 3,000,000 | Cash | 0 | 0 | |||
11 | 633 Third Avenue - Retail Condo | 0 | Cash | 6,745 | 6,745 | 0 | Cash | 0 | 0 | |||
12 | Riverside University Village | 0 | Cash | 0 | 17,500 | 420,000 | Cash | 0 | 0 | |||
13 | FedEx - Atlanta, GA | 0 | 0 | 0 | 0 | 0 | 0 | |||||
14 | FedEx - West Palm Beach, FL | 0 | 0 | 0 | 0 | 0 | 0 | |||||
15 | FedEx - Fife, WA | 0 | 0 | 0 | 0 | 0 | 0 | |||||
16 | 420 East Third Street | 0 | Cash | 1,500,000 | Springing | 750,000 | Cash | 0 | 0 | |||
17 | Courtyard Marriott - Baldwin Park | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
18 | Homewood Suites Del Mar | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
19 | Corporate Center at Kierland | 0 | Cash | 128,145 | 4,500 | 162,000 | Cash | 0 | 0 | |||
20 | La Crosse Industrial | 0 | Cash | 220,000 | 15,994 | 500,000 | Cash | 0 | 0 | |||
21 | Southland Terrace Shopping Center | 0 | 0 | 0 | 0 | 0 | 0 | |||||
22 | Nassau Bay Town Square | 0 | Cash | 0 | 5,833; Springing | 210,000 | Cash | 0 | 0 | |||
23 | U-Stor-It Lisle | 29,556 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
24 | So Cal Self Storage - Northridge | 0 | 0 | 0 | 0 | 0 | 0 | |||||
25 | FedEx Ground - South Bend, IN | 0 | 0 | Springing | 0 | 0 | 0 | |||||
26 | Westland Colonial Village Apartments | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
27 | Dallas MHC Portfolio | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
27.01 | Forest Acres MHC and RV Park | |||||||||||
27.02 | Woodshire MHC | |||||||||||
27.03 | Cobblestone MHC | |||||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 0 | 0 | 0 | 0 | 0 | 0 | |||||
29 | FedEx - Boulder, CO | 0 | 0 | 0 | 0 | 0 | 0 | |||||
30 | Brewster Business Park | 0 | Cash | 0 | 4,442 | 215,000 | Cash | 0 | 0 | |||
31 | Bonanza Square | 137,824 | Cash | 25,000 | 9,530 | 225,000 | Cash | 0 | 0 | |||
32 | Lakeview and Creek Run Business Park | 0 | 260,000 | 0 | 260,000 | Cash | 0 | 0 | ||||
32.01 | Lakeview Commerce Center | |||||||||||
32.02 | Creekrun Business Park | |||||||||||
33 | So Cal Self Storage - Camarillo | 0 | 0 | 0 | 0 | 0 | 0 | |||||
34 | South Main Shopping Center | 0 | Cash | 0 | 2,500 | 105,000 | Cash | 0 | 0 | |||
35 | Publix Self Storage | 32,076 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
36 | SPS Frederick | 0 | 0 | 0 | 0 | 0 | 0 | |||||
37 | Shopko - Redding | 37,632 | Cash | 0 | Springing | 0 | 0 | 0 | ||||
38 | West Crossing Shopping Center | 0 | Cash | 0 | 2,083 | 100,000 | Cash | 0 | 0 | |||
39 | Passaic Self Storage | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
40 | NC Storage Center Portfolio | 0 | Cash | 0 | 0 | 0 | 0 | 0 | ||||
40.01 | Highway 70 Storage Center | |||||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Debt Service Escrow - LoC Counterparty | Other Escrow I Reserve Description | Other Escrow I (Initial) ($) | Other Escrow I (Monthly) ($) | Other Escrow I Cap ($) | Other Escrow I Escrow - Cash or LoC | Other Escrow I - LoC Counterparty |
1 | The Shops at Crystals | 0 | 0 | 0 | ||||
2 | Vertex Pharmaceuticals HQ | 0 | 0 | 0 | ||||
3 | One Stamford Forum | 0 | 0 | 0 | ||||
4 | Renaissance Dallas | 0 | 0 | 0 | ||||
5 | Pinnacle II | 0 | 0 | 0 | ||||
6 | Brewers Hill | Cigna TILC Reserve | 331,511 | 0 | 0 | Cash | ||
7 | Simon Premium Outlets | 0 | 0 | 0 | ||||
7.01 | Lee Premium Outlets | |||||||
7.02 | Gaffney Premium Outlets | |||||||
7.03 | Calhoun Premium Outlets | |||||||
8 | One Penn Center | Rent Concession Reserve | 224,304 | 0 | 0 | Cash | ||
9 | Hilton Long Island Huntington | PIP Reserve | 231,450 | 0 | 0 | Cash | ||
10 | Aurora Office Building | Outstanding TI/LC Reserve | 4,904,605 | 0 | 0 | Cash | ||
11 | 633 Third Avenue - Retail Condo | 0 | 0 | 0 | ||||
12 | Riverside University Village | Existing TI/LC Obligations | 52,116 | 0 | 0 | Cash | ||
13 | FedEx - Atlanta, GA | Change Order Reserve; General Contract Completion and Punchlist Reserve | 592,685 | 0 | 0 | Cash | ||
14 | FedEx - West Palm Beach, FL | Change Order Reserve | 482,701 | 0 | 0 | Cash | ||
15 | FedEx - Fife, WA | Change Order Reserve | 450,094 | 0 | 0 | Cash | ||
16 | 420 East Third Street | Rent Reserve Escrow Deposit | 69,875 | 0 | 0 | Cash | ||
17 | Courtyard Marriott - Baldwin Park | 0 | Springing | 0 | ||||
18 | Homewood Suites Del Mar | Seasonality Reserve | 0 | Springing | 0 | |||
19 | Corporate Center at Kierland | 0 | 0 | 0 | ||||
20 | La Crosse Industrial | 0 | 0 | 0 | ||||
21 | Southland Terrace Shopping Center | Foot Locker Reserve | 220,000 | 0 | 0 | Cash | ||
22 | Nassau Bay Town Square | 0 | 0 | 0 | ||||
23 | U-Stor-It Lisle | 0 | 0 | 0 | ||||
24 | So Cal Self Storage - Northridge | Debt Yield Reserve | 180,000 | 0 | 0 | Cash | ||
25 | FedEx Ground - South Bend, IN | 0 | 0 | 0 | Cash | |||
26 | Westland Colonial Village Apartments | 0 | 0 | 0 | ||||
27 | Dallas MHC Portfolio | 0 | 0 | 0 | ||||
27.01 | Forest Acres MHC and RV Park | |||||||
27.02 | Woodshire MHC | |||||||
27.03 | Cobblestone MHC | |||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 0 | 0 | 0 | ||||
29 | FedEx - Boulder, CO | General Contract Completion and Punchlist Reserve | 146,549 | 0 | 0 | Cash | ||
30 | Brewster Business Park | Matco-Norca Rollover Reserve | 500,000 | 0 | 0 | Cash | ||
31 | Bonanza Square | 0 | 0 | 0 | ||||
32 | Lakeview and Creek Run Business Park | 0 | 0 | 0 | ||||
32.01 | Lakeview Commerce Center | |||||||
32.02 | Creekrun Business Park | |||||||
33 | So Cal Self Storage - Camarillo | 0 | 0 | 0 | ||||
34 | South Main Shopping Center | 0 | 0 | 0 | ||||
35 | Publix Self Storage | 0 | 0 | 0 | ||||
36 | SPS Frederick | 0 | 0 | 0 | ||||
37 | Shopko - Redding | 0 | 0 | 0 | ||||
38 | West Crossing Shopping Center | Outstanding T-Mobile TI/LC Reserve | 145,558 | Springing | 0 | Cash | ||
39 | Passaic Self Storage | 0 | 0 | 0 | ||||
40 | NC Storage Center Portfolio | 0 | 0 | 0 | ||||
40.01 | Highway 70 Storage Center | |||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Other Escrow II Reserve Description | Other Escrow II (Initial) ($) | Other Escrow II (Monthly) ($) | Other Escrow II Cap ($) | Other Escrow II Escrow - Cash or LoC | Other Escrow II - LoC Counterparty | Holdback | Ownership Interest | Ground Lease Initial Expiration Date | Annual Ground Rent Payment |
1 | The Shops at Crystals | 0 | 0 | 0 | Fee | ||||||
2 | Vertex Pharmaceuticals HQ | 0 | 0 | 0 | Fee | ||||||
3 | One Stamford Forum | 0 | 0 | 0 | Fee | ||||||
4 | Renaissance Dallas | 0 | 0 | 0 | Leasehold | 4/30/2062 | $23,720 | ||||
5 | Pinnacle II | 0 | 0 | 0 | Fee | ||||||
6 | Brewers Hill | 0 | 0 | 0 | Fee | ||||||
7 | Simon Premium Outlets | 0 | 0 | 0 | Fee | ||||||
7.01 | Lee Premium Outlets | Fee | |||||||||
7.02 | Gaffney Premium Outlets | Fee | |||||||||
7.03 | Calhoun Premium Outlets | Fee | |||||||||
8 | One Penn Center | Tenant Specific TILC Reserve | 592,858 | 0 | 0 | Cash | Fee | ||||
9 | Hilton Long Island Huntington | 0 | 0 | 0 | Fee | ||||||
10 | Aurora Office Building | 0 | 0 | 0 | Fee | ||||||
11 | 633 Third Avenue - Retail Condo | 0 | 0 | 0 | Fee | ||||||
12 | Riverside University Village | 0 | 0 | 0 | Fee | ||||||
13 | FedEx - Atlanta, GA | Rent Credit Reserve | 179,882 | 0 | 0 | Cash | Fee | ||||
14 | FedEx - West Palm Beach, FL | General Contract Completion and Punchlist Reserve | 34,988 | 0 | 0 | Cash | Fee | ||||
15 | FedEx - Fife, WA | Fence Completion Reserve | 20,004 | 0 | 0 | Cash | Fee | ||||
16 | 420 East Third Street | Outstanding TI/LC | 721,830 | 0 | 0 | Cash | Fee | ||||
17 | Courtyard Marriott - Baldwin Park | 0 | 0 | 0 | Fee | ||||||
18 | Homewood Suites Del Mar | PIP Reserve | 0 | Springing | 0 | Fee | |||||
19 | Corporate Center at Kierland | 0 | 0 | 0 | Fee | ||||||
20 | La Crosse Industrial | 0 | 0 | 0 | Fee | ||||||
21 | Southland Terrace Shopping Center | 0 | 0 | 0 | Fee | ||||||
22 | Nassau Bay Town Square | 0 | 0 | 0 | Fee | ||||||
23 | U-Stor-It Lisle | 0 | 0 | 0 | Fee | ||||||
24 | So Cal Self Storage - Northridge | 0 | 0 | 0 | Fee | ||||||
25 | FedEx Ground - South Bend, IN | 0 | 0 | 0 | Fee | ||||||
26 | Westland Colonial Village Apartments | 0 | 0 | 0 | Fee | ||||||
27 | Dallas MHC Portfolio | 0 | 0 | 0 | Fee | ||||||
27.01 | Forest Acres MHC and RV Park | Fee | |||||||||
27.02 | Woodshire MHC | Fee | |||||||||
27.03 | Cobblestone MHC | Fee | |||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | 0 | 0 | 0 | Fee | ||||||
29 | FedEx - Boulder, CO | Change Order Reserve | 54,475 | 0 | 0 | Cash | Fee | ||||
30 | Brewster Business Park | Matco-Norca Unfunded Obligations Reserve | 100,748 | 0 | 0 | Cash | Fee | ||||
31 | Bonanza Square | 0 | 0 | 0 | Fee | ||||||
32 | Lakeview and Creek Run Business Park | 0 | 0 | 0 | Fee | ||||||
32.01 | Lakeview Commerce Center | Fee | |||||||||
32.02 | Creekrun Business Park | Fee | |||||||||
33 | So Cal Self Storage - Camarillo | 0 | 0 | 0 | Fee | ||||||
34 | South Main Shopping Center | 0 | 0 | 0 | Fee | ||||||
35 | Publix Self Storage | 0 | 0 | 0 | Fee | ||||||
36 | SPS Frederick | 0 | 0 | 0 | Fee | ||||||
37 | Shopko - Redding | 0 | 0 | 0 | Fee | ||||||
38 | West Crossing Shopping Center | T-Mobile Rent Reserve | 59,202 | 0 | 0 | Cash | Fee | ||||
39 | Passaic Self Storage | 0 | 0 | 0 | Fee | ||||||
40 | NC Storage Center Portfolio | 0 | 0 | 0 | Fee | ||||||
40.01 | Highway 70 Storage Center | Fee | |||||||||
40.02 | North Cannon Storage Center | Fee |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Annual Ground Rent Increases | Lockbox | Whole Loan Cut-off Date Balance ($) | Whole Loan Debt Service ($) | Subordinate Secured Debt Original Balance ($) | Subordinate Secured Debt Cut-off Date Balance ($) | Whole Loan U/W NOI DSCR (x) | Whole Loan U/W NCF DSCR (x) | Whole Loan Cut-off Date LTV Ratio | Whole Loan Cut-off Date U/W NOI Debt Yield | Whole Loan Cut-off Date U/W NCF Debt Yield | Mezzanine Debt Cut-off Date Balance($) |
1 | The Shops at Crystals | Hard/Springing Cash Management | 550,000,000 | 1,739,833 | 167,300,000 | 167,300,000 | 2.37 | 2.28 | 50.0% | 9.0% | 8.7% | ||
2 | Vertex Pharmaceuticals HQ | Hard/Springing Cash Management | 195,000,000 | ||||||||||
3 | One Stamford Forum | Hard/Springing Cash Management | |||||||||||
4 | Renaissance Dallas | Springing | |||||||||||
5 | Pinnacle II | Hard/Upfront Cash Management | |||||||||||
6 | Brewers Hill | Soft/Springing Cash Management | |||||||||||
7 | Simon Premium Outlets | Hard/Springing Cash Management | |||||||||||
7.01 | Lee Premium Outlets | ||||||||||||
7.02 | Gaffney Premium Outlets | ||||||||||||
7.03 | Calhoun Premium Outlets | ||||||||||||
8 | One Penn Center | Hard/Upfront Cash Management | |||||||||||
9 | Hilton Long Island Huntington | Springing | |||||||||||
10 | Aurora Office Building | Hard/Springing Cash Management | |||||||||||
11 | 633 Third Avenue - Retail Condo | Hard/Upfront Cash Management | |||||||||||
12 | Riverside University Village | Springing | |||||||||||
13 | FedEx - Atlanta, GA | Hard/Springing Cash Management | |||||||||||
14 | FedEx - West Palm Beach, FL | Hard/Springing Cash Management | |||||||||||
15 | FedEx - Fife, WA | Hard/Springing Cash Management | |||||||||||
16 | 420 East Third Street | Springing | |||||||||||
17 | Courtyard Marriott - Baldwin Park | Hard/Springing Cash Management | |||||||||||
18 | Homewood Suites Del Mar | Springing | |||||||||||
19 | Corporate Center at Kierland | Springing | |||||||||||
20 | La Crosse Industrial | Springing | |||||||||||
21 | Southland Terrace Shopping Center | Soft/Springing Cash Management | |||||||||||
22 | Nassau Bay Town Square | Springing | |||||||||||
23 | U-Stor-It Lisle | Springing | |||||||||||
24 | So Cal Self Storage - Northridge | None | |||||||||||
25 | FedEx Ground - South Bend, IN | Hard/Upfront Cash Management | |||||||||||
26 | Westland Colonial Village Apartments | Springing | |||||||||||
27 | Dallas MHC Portfolio | Soft/Springing Cash Management | |||||||||||
27.01 | Forest Acres MHC and RV Park | ||||||||||||
27.02 | Woodshire MHC | ||||||||||||
27.03 | Cobblestone MHC | ||||||||||||
28 | So Cal Self Storage - Rancho Santa Margarita | None | |||||||||||
29 | FedEx - Boulder, CO | Hard/Springing Cash Management | |||||||||||
30 | Brewster Business Park | Hard/Springing Cash Management | |||||||||||
31 | Bonanza Square | Springing | |||||||||||
32 | Lakeview and Creek Run Business Park | Springing | |||||||||||
32.01 | Lakeview Commerce Center | ||||||||||||
32.02 | Creekrun Business Park | ||||||||||||
33 | So Cal Self Storage - Camarillo | None | |||||||||||
34 | South Main Shopping Center | Springing | |||||||||||
35 | Publix Self Storage | None | |||||||||||
36 | SPS Frederick | None | |||||||||||
37 | Shopko - Redding | Springing | |||||||||||
38 | West Crossing Shopping Center | Springing | |||||||||||
39 | Passaic Self Storage | Springing | |||||||||||
40 | NC Storage Center Portfolio | Springing | |||||||||||
40.01 | Highway 70 Storage Center | ||||||||||||
40.02 | North Cannon Storage Center |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Property Name | Sponsor(10)(15) | Affiliated Sponsors | Mortgage Loan Number |
1 | The Shops at Crystals | Simon Property Group, L.P.; Invesco Advisers Inc. | Y - Group 1 | 1 |
2 | Vertex Pharmaceuticals HQ | Senior Housing Properties Trust | 2 | |
3 | One Stamford Forum | Beacon Company (Delaware); BRJ Fiduciary Management LLC, as Trustee under Trust Agreement dated November 5, 1974; Rosebay Medical Company L.P. | 3 | |
4 | Renaissance Dallas | Thomas Point Ventures, L.P. | 4 | |
5 | Pinnacle II | Hudson Pacific Properties, L.P.; M. David Paul Development, LLC | 5 | |
6 | Brewers Hill | D.W. Wells Obrecht | 6 | |
7 | Simon Premium Outlets | Simon Property Group, L.P. | Y - Group 1 | 7 |
7.01 | Lee Premium Outlets | 7.01 | ||
7.02 | Gaffney Premium Outlets | 7.02 | ||
7.03 | Calhoun Premium Outlets | 7.03 | ||
8 | One Penn Center | Henry Gross | 8 | |
9 | Hilton Long Island Huntington | Naveen Shah | 9 | |
10 | Aurora Office Building | NRFC NNN Holdings, LLC | 10 | |
11 | 633 Third Avenue - Retail Condo | Joseph Nakash | 11 | |
12 | Riverside University Village | Bochao Zhan | 12 | |
13 | FedEx - Atlanta, GA | MRP Group | Y - Group 2 | 13 |
14 | FedEx - West Palm Beach, FL | MRP Group | Y - Group 2 | 14 |
15 | FedEx - Fife, WA | MRP Group | Y - Group 2 | 15 |
16 | 420 East Third Street | Naomi Nakagama Kurata; Fred Kurata | 16 | |
17 | Courtyard Marriott - Baldwin Park | Ronnie Lam | 17 | |
18 | Homewood Suites Del Mar | Giuseppe Simone; Robert A. Rauch; The Giuseppe Simone Revocable Family Trust; The Robert A. Rauch & Linda Rauch Trust | 18 | |
19 | Corporate Center at Kierland | Ted Akiba | 19 | |
20 | La Crosse Industrial | Thomas E. Roberts; Michael J. Roberts | 20 | |
21 | Southland Terrace Shopping Center | Vardi Jeidel | 21 | |
22 | Nassau Bay Town Square | Dorian Bilak; Sara V. Dumont | 22 | |
23 | U-Stor-It Lisle | Lawrence S. Nora | 23 | |
24 | So Cal Self Storage - Northridge | Dennis L. Geiler and William V. Bromiley, individually and as trustees of the Dennis L. Geiler Family Trust and Edith Revocable Trust, respectively | Y - Group 3 | 24 |
25 | FedEx Ground - South Bend, IN | Moses Mizrahi | 25 | |
26 | Westland Colonial Village Apartments | Jeffrey D. Spoon | 26 | |
27 | Dallas MHC Portfolio | Meritus Communities, LLC | 27 | |
27.01 | Forest Acres MHC and RV Park | 27.01 | ||
27.02 | Woodshire MHC | 27.02 | ||
27.03 | Cobblestone MHC | 27.03 | ||
28 | So Cal Self Storage - Rancho Santa Margarita | Dennis L. Geiler and William V. Bromiley, individually and as trustees of the Dennis L. Geiler Family Trust and Edith Revocable Trust, respectively | Y - Group 3 | 28 |
29 | FedEx - Boulder, CO | MRP Group | Y - Group 2 | 29 |
30 | Brewster Business Park | Joseph Simone, Joseph J. Sisca III | 30 | |
31 | Bonanza Square | Mary E. Connolly, individually and as trustee of the Mary E. Connolly Revocable Trust | 31 | |
32 | Lakeview and Creek Run Business Park | Avistone, LLC | 32 | |
32.01 | Lakeview Commerce Center | 32.01 | ||
32.02 | Creekrun Business Park | 32.02 | ||
33 | So Cal Self Storage - Camarillo | Anthony Giangrande; Dennis L. Geiler and William V. Bromiley, individually and as trustees of the Dennis L. Geiler Family Trust and Edith Revocable Trust, respectively | Y - Group 3 | 33 |
34 | South Main Shopping Center | US Property Trust | 34 | |
35 | Publix Self Storage | Craig Smith; Diane Black-Smith | 35 | |
36 | SPS Frederick | See Footnote (15) | 36 | |
37 | Shopko - Redding | Chengben Wang | 37 | |
38 | West Crossing Shopping Center | Michael C. Ainbinder | 38 | |
39 | Passaic Self Storage | Richard Birdoff | 39 | |
40 | NC Storage Center Portfolio | Volta Global LLC | 40 | |
40.01 | Highway 70 Storage Center | 40.01 | ||
40.02 | North Cannon Storage Center | 40.02 |
FOOTNOTES TO ANNEX A-1
See “Annex A-3: Summaries of the Fifteen Largest Mortgage Loans or Groups of Cross-Collateralized Mortgage Loans” in the Preliminary Prospectus for additional information on the 15 largest mortgage loans. | |
(1) | “WFB” denotes Wells Fargo Bank, National Association, “BANA” denotes Bank of America, National Association and “MSMCH” denotes Morgan Stanley Mortgage Capital Holdings LLC. |
(2) | Information regarding mortgage loans that are cross-collateralized with other mortgage loans is based upon the individual loan balances, except that the applicable loan-to-value ratio, debt service coverage ratio or debt yield for each such mortgage loan is based upon the ratio or yield (as applicable) for the aggregate indebtedness evidenced by all mortgage loans in the group (without regard to the $29,593,750 limitation on indebtedness secured by the FedEx – West Palm Beach, FL mortgaged property). On an individual basis, without regard to the cross-collateralization feature, any mortgage loan that is part of a cross-collateralized group of mortgage loans may have a higher loan-to-value ratio, lower debt service coverage ratio and/or lower debt yield than is presented herein. See “Description of the Mortgage Pool—Mortgage Pool Characteristics—Cross-Collateralized Mortgage Loans; Multi-Property Mortgage Loans and Related Borrower Mortgage Loans” in the Preliminary Prospectus. |
(3) | For mortgage loan #6 (Brewers Hill), the Number of Units includes 244,724 square feet of office space, 112,000 square feet of self storage space and 25,489 square feet of storage space. |
For mortgage loan #16 (420 East Third Street), the Number of Units includes 47,166 square feet of medical office space, 44,102 square feet of traditional office space and 24,884 square feet of retail space. | |
For mortgage loan #27 (Dallas MHC Portfolio), the Forest Acre MHC and RV Park mortgaged property consist of 38 recreational vehicle sites. | |
(4) | For mortgage loan #1 (The Shops at Crystals), the mortgage loan is represented by Notes A-2-B-2, A-2-B-3, A-3-B-2, A-3-B-3, B-2-B-2, B-2-B-3, B-3-B-2 and B-3-B-3, eight of 22 seniorpari passu notes (in two tranches) which have a combined Cut-off Date Balance of $382,700,000. The remaining 14 notes (and all nine of the related subordinate companion notes) are not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF figures presented are based on all of the seniorpari passu notes in the aggregate and exclude the related subordinate companion notes. Notes A-2-B-2, A-2-B-3, A-3-B-2, A-3-B-3, B-2-B-2, B-2-B-3, B-3-B-2 and B-3-B-3 represent non-controlling interests in the related loan combination. |
For mortgage loan #2 (Vertex Pharmaceuticals HQ), the mortgage loan is evidenced by Note A-1 of nine pari passunotes, which have a combined Cut-off Date Balance of $425,000,000. Notes A-2-1, A-2-2, A-2-3, A-3, A-4, A-5, A-6 and A-7 will not be included in the trust. All loan-to-value, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on the Notes in the aggregate (the “Vertex Pharmaceuticals HQ Whole Loan”). Note A-1 represents the controlling interest in the Vertex Pharmaceuticals HQ Whole Loan. | |
For mortgage loan #3 (One Stamford Forum), the mortgage loan represents Note A-1 of two pari passu companion loans, which have a combined Cut-off Date Balance of $109,827,482. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1 and Note A-2 in the aggregate (“One Stamford Forum Whole Loan”). The Note A-1 mortgage loan is the controlling interest in One Stamford Forum Whole Loan. | |
For mortgage loan #5 (Pinnacle II), the mortgage loan represents Note A-1 of threepari passu notes, which have a combined Cut-off Date principal balance of $87,000,000. Notes A-2 and A-3 are not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF figures presented are based on Note A-1, Note A-2 and Note A-3 |
in the aggregate (the “Pinnacle II Whole Loan”). Note A-1 represents the controlling interest in the Pinnacle II Whole Loan. | |
For mortgage loan #7 (Simon Premium Outlets), the mortgage loan represents Note A-1 of threepari passu companion loans, which have a combined Cut-off Date Balance of $104,718,012. Note A-2 and Note A-3 are not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1, Note A-2 and Note A-3 in the aggregate (“Simon Premium Outlets Whole Loan”). The Note A-1 mortgage loan is the controlling interest in Simon Premium Outlets Whole Loan. | |
For mortgage loan #8 (One Penn Center), the mortgage loan represents Note A-1 of twopari passunotes, which have a combined Cut-off Date principal balance of $68,000,000. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF figures presented are based on Note A-1 and Note A-2 in the aggregate (the “One Penn Center Whole Loan”). Note A-1 represents the controlling interest in the One Penn Center Whole Loan. | |
For mortgage loan #13 (FedEx – Atlanta, GA), the mortgage loan represents Note A-1 of two pari passu companion loans, which have a combined Cut-off Date Balance of $28,400,000. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1 and Note A-2 in the aggregate (“FedEx – Atlanta, GA Whole Loan”). The Note A-1 mortgage loan is the controlling interest in FedEx – Atlanta, GA Whole Loan. | |
For mortgage loan #14 (FedEx – West Palm Beach, FL), the mortgage loan represents Note A-1 of twopari passu companion loans, which have a combined Cut-off Date Balance of $23,675,000. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1 and Note A-2 in the aggregate (“FedEx – West Palm Beach, FL Whole Loan”). The Note A-1 mortgage loan is the controlling interest in FedEx – West Palm Beach, FL Whole Loan. | |
For mortgage loan #15 (FedEx – Fife, WA), the mortgage loan represents Note A-1 of twopari passu companion loans, which have a combined Cut-off Date Balance of $40,250,000. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1 and Note A-2 in the aggregate (“FedEx – Fife, WA Whole Loan”). The Note A-1 mortgage loan is the controlling interest in FedEx – Fife, WA Whole Loan. | |
For mortgage loan #29 (FedEx – Boulder, CO), the mortgage loan represents Note A-1 of twopari passu companion loans, which have a combined Cut-off Date Balance of $18,450,000. Note A-2 is not included in the trust. All loan-to-value ratio, debt service coverage ratio, debt yield and Cut-off Date Balance per Unit/SF presented are based on Note A-1 and Note A-2 in the aggregate (“FedEx – Boulder, CO Whole Loan”). The Note A-1 mortgage loan is the controlling interest in FedEx – Boulder, CO Whole Loan. | |
(5) | For mortgage loan #25 (FedEx Ground – South Bend, IN), the Cut-off Date Balance of $11,500,000 reflects a $1,000,000 paydown using a principal holdback reserve that was taken at closing. |
(6) | With respect to mortgage loan #10 (Aurora Office Building), the borrower may prepay the mortgage loan in part, including during the lockout period, subject to payment of a prepayment premium equal to the greater of a yield maintenance premium or 1.00% of the amount prepaid, in order to cure a cash management trigger event caused by a decline in debt service coverage ratio below 1.20x for the immediately preceding six consecutive calendar months. Such prepayment is required to be made in the minimum amount such that the amortizing debt service coverage ratio is equal to or greater than 1.25x. |
For mortgage loan #27 (Dallas MHC Portfolio), mortgage loan #32 (Lakeview and Creek Run Business Park) and mortgage loan #40 (NC Storage Center Portfolio), the mortgage loan documents do not allow any partial releases. | |
(7) | For mortgage loan #4 (Renaissance Dallas), 41.3% of U/W Revenues are from food and beverage operations. |
For mortgage loan #9 (Hilton Long Island Huntington), 34.6% of U/W Revenues are from food and beverage operations. | |
(8) | In certain cases, mortgage loans may have tenants that have executed leases, but may not be fully paying rent or occupying the related leased premises that were included in the underwriting. |
For mortgage loan #2 (Vertex Pharmaceuticals HQ), the fourth largest tenant (7,300 square feet), representing 0.6% of the net rentable square feet, represents a master lease from the original developer of the property to the borrower, and is not physically occupied. U/W Revenues include income from the fourth largest tenant. | |
For mortgage loan #3 (One Stamford Forum), the largest tenant (337,456 square feet), representing 66.9% of net rentable square footage is not in occupancy of any of its space and has subleased 330,796 square feet (98.0%) of its space, of which 58,394 square feet is not being utilized. | |
For mortgage loan #3 (One Stamford Forum), the largest tenant (337,456 square feet), representing 66.9% of net rentable square feet, subleases to three tenants as follows: 291,679 square feet for a total annual base rent of $8,750,370 ($30.00 per square foot expiring on December 31, 2020), 25,075 square feet for a total annual base rent of $827,475 ($33.00 per square foot expiring on December 30, 2020) and 14,042 square feet for a total annual base rent of $491,470 ($35.00 per square foot expiring on December 30, 2020). That space is further sublet as follows: 43,563 square feet for a total annual base rent of $1,679,789 ($38.56 per square foot expiring on March 31, 2037), 11,784 square feet for a total annual base rent of $436,008 ($37.00 per square foot expiring on September 27, 2021), 8,705 square feet for a total annual base rent of $322,085 ($37.00 per square foot expiring on September 27, 2021) and 3,704 square feet for a total annual base rent of $137,048 ($37.00 per square foot expiring on September 27, 2021). | |
For mortgage loan #5 (Pinnacle II), the sole tenant (230,000 square feet), representing 100% of net rentable square feet, is subleasing 40,165 square feet for an annual base rent, beginning October 2016, of $2,094,794 ($52.15 per square foot, expiring December 31, 2021). | |
For mortgage loan #6 (Brewers Hill), the second largest tenant (73,880 square feet), representing 19.3% of net rentable square feet, is subleasing space to two tenants: 4,770 square feet for an annual base rent of $104,940 ($22.00 per square foot, expiring June 30, 2017) and 2,342 square feet for an annual base rent of $48,714 ($20.80 per square foot, expiring November 30, 2019). The fourth largest tenant (25,017 square feet), representing 6.5% of net rentable square feet, subleases its entire space to the second largest tenant for an annual base rent of $408,276 ($16.32 per square foot, expiring April 30, 2019). | |
For mortgage loan #11 (633 Third Avenue – Retail Condo), the second largest tenant (16,468 square feet), representing 40.7% of net rentable square feet, subleases 3,800 to the sponsor, for an annual base rent of $230,000 ($60.53 per square foot, expiring September 29, 2023). | |
For mortgage loan #20 (La Crosse Industrial), the third largest tenant (17,686 square feet), representing 2.3% of net rentable square feet, subleases 5,228 square feet to four subtenants. | |
(9) | The tenant early termination options discussed in this footnote are not intended to be an exclusive list. In particular, termination options based on co-tenancy clauses are generally included only for top five tenants by net rentable square feet if the option is currently or imminently exercisable. |
For mortgage loan #1 (The Shops at Crystals), the fourth largest tenant (10,000 square feet), representing 3.8% of net rentable square feet, may terminate its lease if annual gross sales for 2016 are less than $30,000,000. The fourth largest tenant has 60 days’ after reporting sales to provide written notice 182 days’ prior to termination and pay a termination fee equal to one-half the unamortized construction allowance. | |
For mortgage loan #6 (Brewers Hill), the third largest tenant (46,587 square feet), representing 12.2% of net rentable square feet, may terminate its lease as of June 30, 2020 upon providing notice by September 30, 2019 and payment of a termination fee equal to $477,643. The fifth largest tenant (22,985 square feet), representing 6.0% of net rentable square feet, may terminate its lease as of December 31, 2021 upon providing notice by March 31, 2021 and payment of a termination fee equal to $383,524. | |
For mortgage loan #7 (Simon Premium Outlets), the fifth largest tenant at the Lee Premium Outlets mortgaged property (7,683 square feet), representing 3.4% of the net rentable square feet of the entire portfolio, may terminate its lease if gross sales do not exceed $3,000,000 at the end of each lease year. In addition, the fifth largest tenant at the Calhoun Premium Outlets mortgaged property (10,200 square feet), representing 4.0% of the net rentable square feet of the entire portfolio, has the option to terminate its lease if gross sales do not exceed $4,500,000 at the end of each lease year, upon no less than 60 days’ written notice. | |
For mortgage loan #8 (One Penn Center), the largest tenant (74,155 square feet), representing 10.7% of net rentable square feet, may terminate its lease if funding for its fiscal year ending 2016, 2017, 2018 or 2019 is 50% less than the funding level in the lease agreement, upon providing notice by November 1st of the respective fiscal year end and payment of a termination fee detailed in the loan agreement. The second largest tenant (44,765 square feet), representing 6.5% of net rentable square feet, may terminate its lease at any time after April 10, 2021, upon providing 90 days’ written notice. | |
For mortgage loan #16 (420 East Third Street), the largest tenant (8,526 square feet), representing 7.3% of the net rentable square feet, may terminate its lease beginning on June 1, 2019 and at any time thereafter, with at least 270 days’ written notice. | |
For mortgage loan #19 (Corporate Center at Kierland), the second largest tenant (16,872 square feet), representing 15.6% of net rentable square feet, may terminate its lease as of September 30, 2018, upon written notice on or before September 30, 2017 and the payment of a termination fee equal to the sum of $150,442 plus all unamortized abated base rent, tenant improvements, leasing commissions and legal fees. | |
For mortgage loan #21 (Southland Terrace Shopping Center), the second largest tenant (25,000 square feet), representing 11.4% of net rentable square feet, may terminate its lease if gross sales for the trailing twelve month period ending November 2017 are less than $1,900,000. The second largest tenant may terminate its lease upon providing 60 days’ written notice between December 2017 and May 2018 and payment of a termination fee equal to $33,000. The third largest tenant (15,000 square feet), representing 6.8% of net rentable square feet, may terminate its lease if gross sales do not exceed $3,000,000 for the trailing twelve month period ending August 31, 2019. The third largest tenant may terminate its lease at any time 180 days following August 31, 2019 and termination will be effective 210 days following receipt of the termination notice and payment of a termination fee equal to $90,000 plus all unamortized tenant improvements and leasing commissions. | |
For mortgage loan #22 (Nassau Bay Town Square), the second largest tenant (5,754 square feet), representing 11.5% of net rentable square feet, may terminate its lease as of April 30, 2021 upon providing 120 day’s written notice and payment of three months base rent plus all unamortized tenant improvements and leasing commissions. | |
For mortgage loan #30 (Brewster Business Park), the largest tenant (69,100 square feet), representing 52.0% of net rentable square feet, may terminate its lease June 1, 2021 through May 31, 2022 upon providing 12 months’ prior written notice. |
For mortgage loan #34 (South Main Shopping Center), the largest tenant (3,585 square feet), representing 20.8% of net rentable square feet, may terminate its lease November 30, 2021 upon providing six months’ prior written notice. | |
(10) | For mortgage loan #3 (One Stamford Forum), the second largest tenant (167,015 square feet), representing 33.1% of net rentable square feet (or 90.9% of net rentable square footage including the space that it subleases), is an affiliate of the borrower. |
For mortgage loan #6 (Brewers Hill), the largest tenant (112,000 square feet), representing 29.3% of net rentable square feet, is affiliated with the sponsor. | |
For mortgage loan #16 (420 East Third Street), 22,929 square feet (19.7% of the net rentable square feet), including the second and fourth largest tenants, are leased to affiliates of the sponsor. | |
(11) | For mortgage loan #3 (One Stamford Forum), the second largest tenant (167,015 square feet), representing 33.1% of net rentable square footage (or 90.9% of net rentable square footage including the space that it subleases) has signed a lease on 100.0% of the net rentable square footage beginning January 1, 2021 and expiring on June 30, 2031 with a six and a half year renewal option. |
For mortgage loan #6 (Brewers Hill), the second largest tenant (73,880 square feet), representing 19.3% of net rentable square feet, has multiple leases that expire as follows: 69,110 square feet expiring November 30, 2019 and 4,770 square feet expiring June 30, 2017. | |
For mortgage loan #12 (Riverside University Village), the second largest tenant (12,726 square feet), representing 7.1% of net rentable square feet, has multiple leases that expire as follows: 4,836 square feet expiring September 11, 2016 and 7,890 square feet expiring January 22, 2017. | |
For mortgage loan #19 (Corporate Center at Kierland), the largest tenant (56,608 square feet), representing 52.5% of net rentable square feet, has multiple leases that expire as follows: 9,974 square feet expiring February 14, 2019 and 46,634 square feet expiring July 26, 2026. | |
(12) | For mortgage loan #18 (Homewood Suites Del Mar), the Monthly Replacement Reserve will be adjusted to an amount equal to the greater of the existing Monthly Replacement Reserve and 1/12th of 4% of underwritten revenue for the trailing 12 month period. |
(13) | For mortgage loan #6 (Brewers Hill), the Monthly TI/LC deposit will adjust to $40,000 after July 2019, and a TI/LC Cap of $1,000,000 will be put in place. |
(14) | For mortgage loan #1 (The Shops at Crystals), the Springing TI/LC will be a guaranty. |
(15) | For mortgage loan #36 (SPS Frederick), the sponsors are Benjamin D. Eisler and Shirley E. Eisler, individually and as Co-Trustees of the Eisler Revocable Trust; Allen Orwitz and Lea Orwitz individually and as Co-Trustees of the Allen Orwitz and Lea Orwitz Revocable Trust; BACO Realty Corporation. |