FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-262701-05 | ||
FREE WRITING PROSPECTUS, DATED November 1, 2023
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-262701) for the offering to which this free writing prospectus 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 website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, BMO Capital Markets Corp., Barclays Capital Inc., J.P. Morgan Securities LLC, Academy Securities, Inc., Siebert Williams Shank & Co., LLC or any other underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.
The information in this file (the “File”) is an electronic copy of the information set forth in the Annex titled “Certain Characteristics of the Mortgage Loans and Mortgaged Properties” to the prospectus. This File does not contain all information that is required to be included in the prospectus. This File should be reviewed only in conjunction with the entire prospectus. Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision. Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.
The information in this File is preliminary and may be amended and/or supplemented prior to the time of sale. The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.
The securities related to this File are being offered when, as and if issued. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy such securities in any state or other jurisdiction where such offer, solicitation or sale is not permitted. Such securities do not represent an interest in or obligation of the depositor, the sponsors, the originators, the master servicer, the special servicer, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, any risk retention consultation parties, the companion loan holders (or their representatives), the underwriters or any of their respective affiliates. Neither such securities nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or private insurer.
Any legends, disclaimers or other notices that may appear at the bottom of the 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) no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, 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.
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | % of Initial Pool Balance | % of Loan Balance | Mortgage Loan Originator | Mortgage Loan Seller | Related Group | Crossed Group |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 9.7% | 100.0% | CREFI | CREFI | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 8.9% | 100.0% | DBRI | GACC | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 8.8% | CREFI | CREFI | NAP | NAP | |
3.01 | Property | 1 | Prime Storage Bridgehampton | 0.7% | 7.5% | |||||
3.02 | Property | 1 | Prime Storage Bohemia | 0.6% | 6.3% | |||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | 0.4% | 4.0% | |||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | 0.3% | 3.7% | |||||
3.05 | Property | 1 | Prime Storage West Palm Beach | 0.3% | 3.5% | |||||
3.06 | Property | 1 | Prime Storage Snellville | 0.3% | 3.3% | |||||
3.07 | Property | 1 | Prime Storage Shallotte | 0.3% | 3.1% | |||||
3.08 | Property | 1 | Prime Storage Danbury East | 0.3% | 3.0% | |||||
3.09 | Property | 1 | Prime Storage Dallas | 0.3% | 2.9% | |||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 0.2% | 2.8% | |||||
3.11 | Property | 1 | Prime Storage Mesa | 0.2% | 2.8% | |||||
3.12 | Property | 1 | Prime Storage Warren | 0.2% | 2.7% | |||||
3.13 | Property | 1 | Prime Storage Portsmouth | 0.2% | 2.4% | |||||
3.14 | Property | 1 | Prime Storage Bolivia | 0.2% | 2.4% | |||||
3.15 | Property | 1 | Prime Storage Charlottesville | 0.2% | 2.3% | |||||
3.16 | Property | 1 | Prime Storage Clifton | 0.2% | 2.3% | |||||
3.17 | Property | 1 | Prime Storage Centereach | 0.2% | 2.2% | |||||
3.18 | Property | 1 | Prime Storage Marietta North | 0.2% | 2.2% | |||||
3.19 | Property | 1 | Prime Storage Hardeeville | 0.2% | 2.1% | |||||
3.20 | Property | 1 | Prime Storage Summerville | 0.2% | 2.1% | |||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 0.2% | 2.0% | |||||
3.22 | Property | 1 | Prime Storage Marietta South | 0.2% | 2.0% | |||||
3.23 | Property | 1 | Prime Storage Cartersville | 0.2% | 1.9% | |||||
3.24 | Property | 1 | Prime Storage Danbury West | 0.2% | 1.9% | |||||
3.25 | Property | 1 | Prime Storage Scarborough | 0.2% | 1.8% | |||||
3.26 | Property | 1 | Prime Storage Baltimore | 0.2% | 1.7% | |||||
3.27 | Property | 1 | Prime Storage Farmingdale | 0.2% | 1.7% | |||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 0.1% | 1.7% | |||||
3.29 | Property | 1 | Prime Storage Glenville | 0.1% | 1.6% | |||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 0.1% | 1.5% | |||||
3.31 | Property | 1 | Prime Storage Acworth North | 0.1% | 1.5% | |||||
3.32 | Property | 1 | Prime Storage Rock Hill | 0.1% | 1.5% | |||||
3.33 | Property | 1 | Prime Storage Simpsonville | 0.1% | 1.5% | |||||
3.34 | Property | 1 | Prime Storage Acworth East | 0.1% | 1.4% | |||||
3.35 | Property | 1 | Prime Storage Saco | 0.1% | 1.4% | |||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 0.1% | 1.4% | |||||
3.37 | Property | 1 | Prime Storage Green Island | 0.1% | 1.3% | |||||
3.38 | Property | 1 | Prime Storage North Fort Myers | 0.1% | 1.3% | |||||
3.39 | Property | 1 | Prime Storage Marietta | 0.1% | 1.2% | |||||
3.40 | Property | 1 | Prime Storage Midland | 0.1% | 1.2% | |||||
3.41 | Property | 1 | Prime Storage Lansing | 0.1% | 1.2% | |||||
3.42 | Property | 1 | Prime Storage Acworth West | 0.1% | 1.2% | |||||
3.43 | Property | 1 | Prime Storage Boardman | 0.1% | 1.1% | |||||
3.44 | Property | 1 | Prime Storage North Miami | 0.1% | 0.9% | |||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 0.0% | 0.6% | |||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 8.1% | CREFI | CREFI | NAP | NAP | |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 4.7% | 57.4% | |||||
4.02 | Property | 1 | Scottsdale Towne Center | 3.5% | 42.6% | |||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 8.0% | 100.0% | JPMCB, BCREI, WFB | JPMCB | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 7.0% | GSBI, WFB | GSMC | NAP | NAP | |
6.01 | Property | 1 | 2615 East 12th Street | 1.5% | 21.3% | |||||
6.02 | Property | 1 | Parkglenn Self-Storage | 0.7% | 10.7% | |||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 0.7% | 10.2% | |||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 0.7% | 10.0% | |||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | 0.6% | 8.3% | |||||
6.06 | Property | 1 | 3803 N Navarro St | 0.5% | 7.4% | |||||
6.07 | Property | 1 | 2102 NW Stallings Dr | 0.4% | 5.9% | |||||
6.08 | Property | 1 | 2005 W Wheeler Ave | 0.4% | 5.6% | |||||
6.09 | Property | 1 | 3817 Gulf Freeway | 0.4% | 5.2% | |||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 0.4% | 5.0% | |||||
6.11 | Property | 1 | 11615 Rubina Pl | 0.3% | 4.0% | |||||
6.12 | Property | 1 | 4222 N Main St | 0.3% | 3.8% | |||||
6.13 | Property | 1 | 12 Irongate Drive | 0.2% | 2.6% | |||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 5.6% | 100.0% | GSBI | GSMC | NAP | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 4.9% | CREFI | CREFI | NAP | NAP | |
8.01 | Property | 1 | 521 West 21st Street | 3.5% | 71.0% | |||||
8.02 | Property | 1 | 656 East 133rd Street | 1.4% | 29.0% | |||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 4.0% | 100.0% | DBRI | GACC | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 3.4% | 100.0% | LMF | BMO | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 3.4% | 100.0% | DBRI | GACC | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | 3.3% | 100.0% | GSBI | GSMC | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 3.3% | 100.0% | BCREI, BANA, JPMCB | Barclays, JPMCB | NAP | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 2.8% | 100.0% | JPMCB | JPMCB | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 2.8% | 100.0% | BMO, CREFI | BMO | NAP | NAP |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 2.5% | 100.0% | CREFI | CREFI | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 2.1% | BMO | BMO | NAP | NAP | |
17.01 | Property | 1 | 2410-2418 Broadway | 0.7% | 34.1% | |||||
17.02 | Property | 1 | 245 West 51st Street | 0.7% | 31.9% | |||||
17.03 | Property | 1 | 324-326 West 84th Street | 0.4% | 19.3% | |||||
17.04 | Property | 1 | 107 West 68th Street | 0.2% | 11.0% | |||||
17.05 | Property | 1 | 1443-1447 York Avenue | 0.1% | 3.7% | |||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 1.7% | 100.0% | BCREI | Barclays | NAP | NAP |
19 | Loan | 1 | College Center Abella | 1.6% | 100.0% | GSBI | GSMC | NAP | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 1.6% | 100.0% | BCREI, DBNY | Barclays | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 1.4% | 100.0% | JPMCB | JPMCB | NAP | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 1.2% | 100.0% | CREFI | CREFI | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 1.0% | CREFI | CREFI | NAP | NAP | |
23.01 | Property | 1 | Stockton | 0.7% | 68.4% | |||||
23.02 | Property | 1 | Nostrand | 0.3% | 31.6% | |||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 0.8% | 100.0% | CREFI | CREFI | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 0.7% | 100.0% | GACC | GACC | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 0.6% | 100.0% | CREFI | CREFI | Group 1 | NAP | |
27 | Loan | 1 | Cityline Safe Storage | 0.5% | 100.0% | CREFI | CREFI | Group 1 | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 0.5% | 100.0% | CREFI | CREFI | Group 1 | NAP |
A-1 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Address | City | County | State | Zip Code |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 65 West 54th Street | New York | New York | New York | 10019 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 13146 Ballantyne Corporate Place | Charlotte | Mecklenburg | North Carolina | 28277 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | Various | Various | Various | Various | Various |
3.01 | Property | 1 | Prime Storage Bridgehampton | 229 Butter Lane | Bridgehampton | Suffolk | New York | 11932 | |
3.02 | Property | 1 | Prime Storage Bohemia | 868 Lincoln Avenue | Bohemia | Suffolk | New York | 11716 | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | 98 Depot Road | Westhampton Beach | Suffolk | New York | 11978 | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | 109-09 180th Street | Jamaica | Queens | New York | 11433 | |
3.05 | Property | 1 | Prime Storage West Palm Beach | 411 and 422 7th Street | West Palm Beach | Palm Beach | Florida | 33401 | |
3.06 | Property | 1 | Prime Storage Snellville | 3220 Centerville Highway | Snellville | Gwinnett | Georgia | 30039 | |
3.07 | Property | 1 | Prime Storage Shallotte | 4747 Old Shallotte Road Northwest | Shallotte | Brunswick | North Carolina | 28470 | |
3.08 | Property | 1 | Prime Storage Danbury East | 8A Great Pasture Road | Danbury | Fairfield | Connecticut | 06810 | |
3.09 | Property | 1 | Prime Storage Dallas | 9088 Dallas Acworth Highway | Dallas | Paulding | Georgia | 30132 | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 99 Pine Aire Drive | Bay Shore | Suffolk | New York | 11706 | |
3.11 | Property | 1 | Prime Storage Mesa | 5932 East Brown Road | Mesa | Maricopa | Arizona | 85205 | |
3.12 | Property | 1 | Prime Storage Warren | 130 Franklin Street | Warren | Bristol | Rhode Island | 02885 | |
3.13 | Property | 1 | Prime Storage Portsmouth | 350 High Point Avenue | Portsmouth | Newport | Rhode Island | 02871 | |
3.14 | Property | 1 | Prime Storage Bolivia | 890 Southport - Supply Road Southeast | Bolivia | Brunswick | North Carolina | 28422 | |
3.15 | Property | 1 | Prime Storage Charlottesville | 2365, 2383 and 2375 Hunters Way | Charlottesville | Albemarle | Virginia | 22911 | |
3.16 | Property | 1 | Prime Storage Clifton | 47 Main Avenue | Clifton | Passaic | New Jersey | 07014 | |
3.17 | Property | 1 | Prime Storage Centereach | 21 Hammond Road | Centereach | Suffolk | New York | 11720 | |
3.18 | Property | 1 | Prime Storage Marietta North | 3850 Shallowford Road | Marietta | Cobb | Georgia | 30062 | |
3.19 | Property | 1 | Prime Storage Hardeeville | 1689 Brickyard Road | Hardeeville | Jasper | South Carolina | 29927 | |
3.20 | Property | 1 | Prime Storage Summerville | 2248 North Main Street | Summerville | Berkeley | South Carolina | 29486 | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 1553 Lynnhaven Parkway | Virginia Beach | Virginia Beach | Virginia | 23453 | |
3.22 | Property | 1 | Prime Storage Marietta South | 155 Heathersett Drive | Marietta | Cobb | Georgia | 30064 | |
3.23 | Property | 1 | Prime Storage Cartersville | 1340 Joe Frank Harris Parkway | Cartersville | Bartow | Georgia | 30120 | |
3.24 | Property | 1 | Prime Storage Danbury West | 20 Old Ridgebury Road | Danbury | Fairfield | Connecticut | 06810 | |
3.25 | Property | 1 | Prime Storage Scarborough | 8 Pleasant Hill Road | Scarborough | Cumberland | Maine | 04074 | |
3.26 | Property | 1 | Prime Storage Baltimore | 3220 Wilkens Avenue | Baltimore | Baltimore | Maryland | 21229 | |
3.27 | Property | 1 | Prime Storage Farmingdale | 2091 New Highway | Farmingdale | Suffolk | New York | 11735 | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 3500 Wilkens Avenue | Baltimore | Baltimore | Maryland | 21229 | |
3.29 | Property | 1 | Prime Storage Glenville | 65 Freemans Bridge Road | Glenville | Schenectady | New York | 12302 | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 12650 Ford Drive | Fishers | Hamilton | Indiana | 46038 | |
3.31 | Property | 1 | Prime Storage Acworth North | 6394 Bells Ferry Road | Acworth | Cherokee | Georgia | 30102 | |
3.32 | Property | 1 | Prime Storage Rock Hill | 2550 Cherry Road | Rock Hill | York | South Carolina | 29732 | |
3.33 | Property | 1 | Prime Storage Simpsonville | 2711 Woodruff Road | Simpsonville | Greenville | South Carolina | 29681 | |
3.34 | Property | 1 | Prime Storage Acworth East | 2645 Hickory Grove Road | Acworth | Cobb | Georgia | 30101 | |
3.35 | Property | 1 | Prime Storage Saco | 28 Industrial Park Road | Saco | York | Maine | 04072 | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 2613 North Point Boulevard | Baltimore | Baltimore | Maryland | 21222 | |
3.37 | Property | 1 | Prime Storage Green Island | 12 Lower Hudson Avenue | Green Island | Albany | New York | 12183 | |
3.38 | Property | 1 | Prime Storage North Fort Myers | 2590 North Tamiami Trail | North Fort Myers | Lee | Florida | 33903 | |
3.39 | Property | 1 | Prime Storage Marietta | 1225 Canton Road | Marietta | Cobb | Georgia | 30066 | |
3.40 | Property | 1 | Prime Storage Midland | 6700 Flat Rock Road | Midland | Muscogee | Georgia | 31820 | |
3.41 | Property | 1 | Prime Storage Lansing | 1530 Lake Lansing Road | Lansing | Ingham | Michigan | 48912 | |
3.42 | Property | 1 | Prime Storage Acworth West | 3495 Baker Road | Acworth | Cobb | Georgia | 30101 | |
3.43 | Property | 1 | Prime Storage Boardman | 7469 South Avenue | Boardman | Mahoning | Ohio | 44512 | |
3.44 | Property | 1 | Prime Storage North Miami | 1945 Northeast 135th Street | North Miami | Miami-Dade | Florida | 33181 | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 1260 East Butler Road | Greenville | Greenville | South Carolina | 29607 | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Various | Various | Maricopa | Arizona | Various |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 4684-5114 South Power Road | Gilbert | Maricopa | Arizona | 85212 | |
4.02 | Property | 1 | Scottsdale Towne Center | 15454-15784 North Frank Lloyd Wright Boulevard | Scottsdale | Maricopa | Arizona | 85260 | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 1201 and 1113 Market Street | Philadelphia | Philadelphia | Pennsylvania | 19107 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | Various | Various | Various | Various | Various |
6.01 | Property | 1 | 2615 East 12th Street | 2615 East 12th Street | Oakland | Alameda | California | 94606 | |
6.02 | Property | 1 | Parkglenn Self-Storage | 10144 Parkglenn Way | Parker | Douglas | Colorado | 80134 | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 630 MacArthur Boulevard and 59 Jonathan Bourne Drive | Bourne | Barnstable | Massachusetts | 02559 | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 30690 Aldine Westfield Road | Spring | Montgomery | Texas | 77386 | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | 13404 East Broncos Parkway | Englewood | Arapahoe | Colorado | 80112 | |
6.06 | Property | 1 | 3803 N Navarro St | 3803 North Navarro Street | Victoria | Victoria | Texas | 77901 | |
6.07 | Property | 1 | 2102 NW Stallings Dr | 2102 Northwest Stallings Drive | Nacogdoches | Nacogdoches | Texas | 75964 | |
6.08 | Property | 1 | 2005 W Wheeler Ave | 2005 West Wheeler Avenue | Aransas Pass | San Patricio | Texas | 78336 | |
6.09 | Property | 1 | 3817 Gulf Freeway | 3817 Gulf Freeway | Dickinson | Galveston | Texas | 77539 | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 1600 East General Cavazos Boulevard | Kingsville | Kleberg | Texas | 78363 | |
6.11 | Property | 1 | 11615 Rubina Pl | 11615 Rubina Place | Waldorf | Charles | Maryland | 20602 | |
6.12 | Property | 1 | 4222 N Main St | 4222 North Main Street | Baytown | Harris | Texas | 77521 | |
6.13 | Property | 1 | 12 Irongate Drive | 12 Irongate Drive | Waldorf | Charles | Maryland | 20602 | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 1999 Harrison Street | Oakland | Alameda | California | 94612 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | Various | Various | Various | New York | Various |
8.01 | Property | 1 | 521 West 21st Street | 521 West 21st Street | New York | New York | New York | 10011 | |
8.02 | Property | 1 | 656 East 133rd Street | 656 East 133rd Street | Bronx | Bronx | New York | 10454 | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 22600 North 19th Avenue | Phoenix | Maricopa | Arizona | 85027 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 2560 Bruckner Boulevard | Bronx | Bronx | New York | 10465 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 1610 Broadway Street | Lubbock | Lubbock | Texas | 79401 |
12 | Loan | 56, 57 | 1 | Waterstone Center | 9851-9891 Waterstone Boulevard and 9040 Union Cemetery Road | Cincinnati | Warren | Ohio | 45249 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 2001 and 2005 Market Street | Philadelphia | Philadelphia | Pennsylvania | 19103 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 25 Winooski Falls Way | Winooski | Chittenden | Vermont | 05404 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 200-210 Hudson Street | Jersey City | Hudson | New Jersey | 07311 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 5485 Twin Knolls Road | Columbia | Howard | Maryland | 21045 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | Various | New York | New York | New York | Various |
17.01 | Property | 1 | 2410-2418 Broadway | 2410-2418 Broadway | New York | New York | New York | 10024 | |
17.02 | Property | 1 | 245 West 51st Street | 245 West 51st Street | New York | New York | New York | 10019 | |
17.03 | Property | 1 | 324-326 West 84th Street | 324-326 West 84th Street | New York | New York | New York | 10024 | |
17.04 | Property | 1 | 107 West 68th Street | 107 West 68th Street | New York | New York | New York | 10023 | |
17.05 | Property | 1 | 1443-1447 York Avenue | 1443-1447 York Avenue | New York | New York | New York | 10075 | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 3450 Creek Pointe Drive | East Point | Fulton | Georgia | 30344 |
19 | Loan | 1 | College Center Abella | 2300, 2400, and 2554 El Portal Drive, 14350 Laurie Lane and 14330 San Pablo Avenue | San Pablo | Contra Costa | California | 94806 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 12800 Culver Boulevard | Los Angeles | Los Angeles | California | 90066 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 17780 Fitch Avenue | Irvine | Orange | California | 92614 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 1124-1126 Third Avenue | New York | New York | New York | 10065 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | Various | Brooklyn | Kings | New York | Various |
23.01 | Property | 1 | Stockton | 362 Stockton Street | Brooklyn | Kings | New York | 11206 | |
23.02 | Property | 1 | Nostrand | 2131 Nostrand Avenue | Brooklyn | Kings | New York | 11210 | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 688-690 9th Avenue | New York | New York | New York | 10036 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 19881 Cajon Boulevard | San Bernardino | San Bernardino | California | 92407 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 7620 Memorial Parkway Southwest | Huntsville | Madison | Alabama | 35802 | |
27 | Loan | 1 | Cityline Safe Storage | 452 Buffalo Road and 637 East Main Street | Hohenwald | Lewis | Tennessee | 38462 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 2005 Sparkman Drive | Huntsville | Madison | Alabama | 35810 |
A-2 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | General Property Type | Detailed Property Type | Year Built | Year Renovated | Number of Units | Unit of Measure | Loan Per Unit ($) | Original Balance ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | Hospitality | Full Service | 1926 | 2014 | 426 | Rooms | 165,492.96 | 60,500,000 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | Office | Suburban | 2020 | NAP | 320,801 | SF | 293.02 | 56,000,000 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | Self Storage | Self Storage | Various | Various | 3,090,509 | SF | 131.33 | 55,000,000 |
3.01 | Property | 1 | Prime Storage Bridgehampton | Self Storage | Self Storage | 2005 | NAP | 67,842 | SF | 4,118,114 | ||
3.02 | Property | 1 | Prime Storage Bohemia | Self Storage | Self Storage | 1995 | 2004 | 153,175 | SF | 3,470,983 | ||
3.03 | Property | 1 | Prime Storage Westhampton Beach | Self Storage | Self Storage | 2003 | 2007 | 66,250 | SF | 2,220,841 | ||
3.04 | Property | 1 | Prime Storage Queens Jamaica | Self Storage | Self Storage | 1952 | 2007 | 89,028 | SF | 2,022,289 | ||
3.05 | Property | 1 | Prime Storage West Palm Beach | Self Storage | Self Storage | 2000 | 2011 | 70,670 | SF | 1,948,751 | ||
3.06 | Property | 1 | Prime Storage Snellville | Self Storage | Self Storage | 2006 | 2008 | 97,174 | SF | 1,838,444 | ||
3.07 | Property | 1 | Prime Storage Shallotte | Self Storage | Self Storage | 1994 | 2006 | 135,520 | SF | 1,698,722 | ||
3.08 | Property | 1 | Prime Storage Danbury East | Self Storage | Self Storage | 2002 | NAP | 81,744 | SF | 1,654,600 | ||
3.09 | Property | 1 | Prime Storage Dallas | Self Storage | Self Storage | 2003 | NAP | 77,898 | SF | 1,573,708 | ||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | Self Storage | Self Storage | 1998 | NAP | 75,500 | SF | 1,551,647 | ||
3.11 | Property | 1 | Prime Storage Mesa | Self Storage | Self Storage | 2006 | NAP | 93,265 | SF | 1,544,293 | ||
3.12 | Property | 1 | Prime Storage Warren | Self Storage | Self Storage | 1945 | 2007 | 66,127 | SF | 1,463,402 | ||
3.13 | Property | 1 | Prime Storage Portsmouth | Self Storage | Self Storage | 2002 | NAP | 52,575 | SF | 1,323,680 | ||
3.14 | Property | 1 | Prime Storage Bolivia | Self Storage | Self Storage | 2006 | NAP | 85,925 | SF | 1,316,326 | ||
3.15 | Property | 1 | Prime Storage Charlottesville | Self Storage | Self Storage | 1999, 2002, 2007, 2013 | NAP | 72,465 | SF | 1,279,557 | ||
3.16 | Property | 1 | Prime Storage Clifton | Self Storage | Self Storage | 1947, 2000 | 2019 | 51,140 | SF | 1,257,496 | ||
3.17 | Property | 1 | Prime Storage Centereach | Self Storage | Self Storage | 1978, 1997 | 2019 | 68,031 | SF | 1,235,435 | ||
3.18 | Property | 1 | Prime Storage Marietta North | Self Storage | Self Storage | 2002 | NAP | 80,595 | SF | 1,191,312 | ||
3.19 | Property | 1 | Prime Storage Hardeeville | Self Storage | Self Storage | 2010 | NAP | 72,089 | SF | 1,161,897 | ||
3.20 | Property | 1 | Prime Storage Summerville | Self Storage | Self Storage | 2017 | NAP | 100,600 | SF | 1,158,220 | ||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | Self Storage | Self Storage | 2016 | NAP | 62,183 | SF | 1,110,420 | ||
3.22 | Property | 1 | Prime Storage Marietta South | Self Storage | Self Storage | 1986, 2003 | NAP | 86,196 | SF | 1,103,066 | ||
3.23 | Property | 1 | Prime Storage Cartersville | Self Storage | Self Storage | 2001 | 2006 | 49,706 | SF | 1,036,883 | ||
3.24 | Property | 1 | Prime Storage Danbury West | Self Storage | Self Storage | 2010 | NAP | 43,789 | SF | 1,029,529 | ||
3.25 | Property | 1 | Prime Storage Scarborough | Self Storage | Self Storage | 1985 | 1998 | 53,025 | SF | 992,760 | ||
3.26 | Property | 1 | Prime Storage Baltimore | Self Storage | Self Storage | 1988 | NAP | 73,685 | SF | 941,283 | ||
3.27 | Property | 1 | Prime Storage Farmingdale | Self Storage | Self Storage | 1976 | 1994, 2006, 2009 | 43,998 | SF | 941,283 | ||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | Self Storage | Self Storage | 1984 | NAP | 70,758 | SF | 919,222 | ||
3.29 | Property | 1 | Prime Storage Glenville | Self Storage | Self Storage | 1999 | 2004 | 62,143 | SF | 867,746 | ||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | Self Storage | Self Storage | 1996 | NAP | 68,875 | SF | 830,977 | ||
3.31 | Property | 1 | Prime Storage Acworth North | Self Storage | Self Storage | 2001 | NAP | 67,599 | SF | 816,269 | ||
3.32 | Property | 1 | Prime Storage Rock Hill | Self Storage | Self Storage | 2016 | NAP | 72,300 | SF | 812,592 | ||
3.33 | Property | 1 | Prime Storage Simpsonville | Self Storage | Self Storage | 2004 | 2018 | 85,425 | SF | 797,885 | ||
3.34 | Property | 1 | Prime Storage Acworth East | Self Storage | Self Storage | 1999 | NAP | 64,877 | SF | 772,147 | ||
3.35 | Property | 1 | Prime Storage Saco | Self Storage | Self Storage | 2000 | NAP | 32,175 | SF | 772,147 | ||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | Self Storage | Self Storage | 2007 | NAP | 48,200 | SF | 764,793 | ||
3.37 | Property | 1 | Prime Storage Green Island | Self Storage | Self Storage | 1997-1999 | NAP | 42,975 | SF | 698,609 | ||
3.38 | Property | 1 | Prime Storage North Fort Myers | Self Storage | Self Storage | 1984, 1996 | NAP | 40,928 | SF | 694,932 | ||
3.39 | Property | 1 | Prime Storage Marietta | Self Storage | Self Storage | 1988 | 1997 | 65,984 | SF | 683,901 | ||
3.40 | Property | 1 | Prime Storage Midland | Self Storage | Self Storage | 2001 | 2004 | 61,495 | SF | 661,840 | ||
3.41 | Property | 1 | Prime Storage Lansing | Self Storage | Self Storage | 1987 | 2004 | 54,785 | SF | 652,648 | ||
3.42 | Property | 1 | Prime Storage Acworth West | Self Storage | Self Storage | 1995, 1997, 2000 | NAP | 41,534 | SF | 647,132 | ||
3.43 | Property | 1 | Prime Storage Boardman | Self Storage | Self Storage | 1998 | 2020 | 80,558 | SF | 631,689 | ||
3.44 | Property | 1 | Prime Storage North Miami | Self Storage | Self Storage | 2002 | NAP | 16,955 | SF | 477,996 | ||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | Self Storage | Self Storage | 1996 | NAP | 42,750 | SF | 312,536 | ||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Retail | Anchored | Various | Various | 432,068 | SF | 187.47 | 51,000,000 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | Retail | Anchored | 2005 | 2010 | 263,978 | SF | 29,277,778 | ||
4.02 | Property | 1 | Scottsdale Towne Center | Retail | Anchored | 1995 | NAP | 168,090 | SF | 21,722,222 | ||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | Hospitality | Full Service | 1995 | 2023 | 1,408 | Rooms | 152,698.86 | 50,000,000 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | Self Storage | Self Storage | Various | Various | 832,976 | SF | 102.04 | 43,750,000 |
6.01 | Property | 1 | 2615 East 12th Street | Self Storage | Self Storage | 1975 | 2004 | 88,480 | SF | 9,316,176 | ||
6.02 | Property | 1 | Parkglenn Self-Storage | Self Storage | Self Storage | 2008 | NAP | 75,527 | SF | 4,665,809 | ||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | Self Storage | Self Storage | 1984, 2002 | NAP | 51,157 | SF | 4,455,809 | ||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | Self Storage | Self Storage | 2017 | NAP | 109,300 | SF | 4,391,471 | ||
6.05 | Property | 1 | 13404 E Broncos Pkwy | Self Storage | Self Storage | 2016 | NAP | 64,460 | SF | 3,629,191 | ||
6.06 | Property | 1 | 3803 N Navarro St | Self Storage | Self Storage | 1998 | NAP | 81,250 | SF | 3,229,265 | ||
6.07 | Property | 1 | 2102 NW Stallings Dr | Self Storage | Self Storage | 1998 | NAP | 57,100 | SF | 2,583,309 | ||
6.08 | Property | 1 | 2005 W Wheeler Ave | Self Storage | Self Storage | 1998 | NAP | 56,950 | SF | 2,470,074 | ||
6.09 | Property | 1 | 3817 Gulf Freeway | Self Storage | Self Storage | 2003 | NAP | 71,925 | SF | 2,292,500 | ||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | Self Storage | Self Storage | 2000 | NAP | 56,550 | SF | 2,195,735 | ||
6.11 | Property | 1 | 11615 Rubina Pl | Self Storage | Self Storage | 2011 | NAP | 32,700 | SF | 1,743,824 | ||
6.12 | Property | 1 | 4222 N Main St | Self Storage | Self Storage | 1986 | 2022 | 66,250 | SF | 1,646,544 | ||
6.13 | Property | 1 | 12 Irongate Drive | Self Storage | Self Storage | 1984 | NAP | 21,327 | SF | 1,130,294 | ||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | Office | CBD | 1985 | 2015 | 489,777 | SF | 163.34 | 35,000,000 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | Various | Various | Various | Various | 120,350 | SF | 257.58 | 31,000,000 |
8.01 | Property | 1 | 521 West 21st Street | Retail | Unanchored | 1931 | 2015 | 30,350 | SF | 22,000,000 | ||
8.02 | Property | 1 | 656 East 133rd Street | Industrial | Warehouse | 1930 | 2010 | 90,000 | SF | 9,000,000 | ||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | Industrial | Manufacturing/Distribution | 1992 | NAP | 273,235 | SF | 91.31 | 24,950,000 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | Retail | Single Tenant | 2007 | NAP | 135,000 | SF | 155.56 | 21,000,000 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | Hospitality | Full Service | 2020 | NAP | 165 | Rooms | 127,272.73 | 21,000,000 |
12 | Loan | 56, 57 | 1 | Waterstone Center | Retail | Anchored | 1996 | NAP | 161,781 | SF | 129.11 | 20,887,900 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Office | CBD | 1987, 1992 | 2013 | 1,896,143 | SF | 116.03 | 20,833,333 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | Multifamily | Student Housing | 2005 | NAP | 308 | Beds | 57,402.60 | 17,680,000 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Office | CBD | 1930 | 2021 | 1,599,029 | SF | 140.71 | 17,500,000 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | Hospitality | Full Service | 1982 | 2019 | 152 | Rooms | 101,777.39 | 15,500,000 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | Multifamily | Various | Various | Various | 201 | Units | 268,656.72 | 13,000,000 |
17.01 | Property | 1 | 2410-2418 Broadway | Multifamily | High Rise | 1915 | 1989 | 46 | Units | 4,439,259 | ||
17.02 | Property | 1 | 245 West 51st Street | Multifamily | High Rise | 1912 | 1998 | 65 | Units | 4,147,963 | ||
17.03 | Property | 1 | 324-326 West 84th Street | Multifamily | High Rise | 1914 | NAP | 48 | Units | 2,503,704 | ||
17.04 | Property | 1 | 107 West 68th Street | Multifamily | Mid Rise | 1930 | NAP | 30 | Units | 1,425,185 | ||
17.05 | Property | 1 | 1443-1447 York Avenue | Multifamily | Mid Rise | 1920 | NAP | 12 | Units | 483,889 | ||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | Hospitality | Limited Service | 2008 | 2016 | 119 | Rooms | 89,075.63 | 10,600,000 |
19 | Loan | 1 | College Center Abella | Retail | Anchored | 1961, 1978, 1988, 2008 | 1990, 2000 | 98,292 | SF | 104.28 | 10,250,000 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | Other | Data Center/Other | 1968 | 1998-1999 | 296,000 | SF | 286.49 | 9,800,000 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | Office | CBD | 1983 | NAP | 50,023 | SF | 171.92 | 8,600,000 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | Mixed Use | Multifamily/Retail | 1910 | 2022 | 9 | Units | 833,333.33 | 7,500,000 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | Various | Various | Various | 2023 | 24 | Units | 263,541.67 | 6,325,000 |
23.01 | Property | 1 | Stockton | Multifamily | Mid Rise | 1931 | 2023 | 22 | Units | 4,325,000 | ||
23.02 | Property | 1 | Nostrand | Mixed Use | Multifamily/Retail | 1930 | 2023 | 2 | Units | 2,000,000 | ||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | Mixed Use | Multifamily/Retail | 1886 | 1987 | 17 | Units | 294,117.65 | 5,000,000 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | Other | Industrial Outdoor Storage | 2022 | NAP | 260,567 | SF | 16.50 | 4,300,000 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | Self Storage | Self Storage | 1984 | 2021 | 75,450 | SF | 49.24 | 3,715,000 | |
27 | Loan | 1 | Cityline Safe Storage | Self Storage | Self Storage | 2009 | 2023 | 47,280 | SF | 63.45 | 3,000,000 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | Self Storage | Self Storage | 1989 | 2015 | 60,825 | SF | 48.34 | 2,940,000 |
A-3 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Cut-off Date Balance ($) | Maturity/ARD Balance ($) | Interest Rate % | Administrative Fee Rate % | Net Mortgage Rate % | Monthly Debt Service (P&I) ($) | Monthly Debt Service (IO) ($) | Annual Debt Service (P&I) ($) | Annual Debt Service (IO) ($) | Amortization Type |
1 | 2 | 2 | ||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 60,500,000 | 60,500,000 | 7.42000% | 0.02049% | 7.39951% | NAP | 379,287.38 | NAP | 4,551,448.56 | Interest Only |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 56,000,000 | 56,000,000 | 7.38750% | 0.02049% | 7.36701% | NAP | 349,538.19 | NAP | 4,194,458.28 | Interest Only |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 55,000,000 | 55,000,000 | 6.39000% | 0.03524% | 6.35476% | NAP | 296,942.71 | NAP | 3,563,312.52 | Interest Only |
3.01 | Property | 1 | Prime Storage Bridgehampton | 4,118,114 | 4,118,114 | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | 3,470,983 | 3,470,983 | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | 2,220,841 | 2,220,841 | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | 2,022,289 | 2,022,289 | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | 1,948,751 | 1,948,751 | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | 1,838,444 | 1,838,444 | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | 1,698,722 | 1,698,722 | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | 1,654,600 | 1,654,600 | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | 1,573,708 | 1,573,708 | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 1,551,647 | 1,551,647 | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | 1,544,293 | 1,544,293 | |||||||||
3.12 | Property | 1 | Prime Storage Warren | 1,463,402 | 1,463,402 | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | 1,323,680 | 1,323,680 | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | 1,316,326 | 1,316,326 | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | 1,279,557 | 1,279,557 | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | 1,257,496 | 1,257,496 | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | 1,235,435 | 1,235,435 | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | 1,191,312 | 1,191,312 | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | 1,161,897 | 1,161,897 | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | 1,158,220 | 1,158,220 | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 1,110,420 | 1,110,420 | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | 1,103,066 | 1,103,066 | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | 1,036,883 | 1,036,883 | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | 1,029,529 | 1,029,529 | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | 992,760 | 992,760 | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | 941,283 | 941,283 | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | 941,283 | 941,283 | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 919,222 | 919,222 | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | 867,746 | 867,746 | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 830,977 | 830,977 | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | 816,269 | 816,269 | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | 812,592 | 812,592 | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | 797,885 | 797,885 | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | 772,147 | 772,147 | |||||||||
3.35 | Property | 1 | Prime Storage Saco | 772,147 | 772,147 | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 764,793 | 764,793 | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | 698,609 | 698,609 | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | 694,932 | 694,932 | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | 683,901 | 683,901 | |||||||||
3.40 | Property | 1 | Prime Storage Midland | 661,840 | 661,840 | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | 652,648 | 652,648 | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | 647,132 | 647,132 | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | 631,689 | 631,689 | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | 477,996 | 477,996 | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 312,536 | 312,536 | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 51,000,000 | 51,000,000 | 7.85000% | 0.03049% | 7.81951% | NAP | 338,258.68 | NAP | 4,059,104.16 | Interest Only |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 29,277,778 | 29,277,778 | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | 21,722,222 | 21,722,222 | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 50,000,000 | 50,000,000 | 8.70500% | 0.02049% | 8.68451% | NAP | 367,745.95 | NAP | 4,412,951.40 | Interest Only |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 43,750,000 | 43,750,000 | 7.03000% | 0.02049% | 7.00951% | NAP | 259,861.83 | NAP | 3,118,341.96 | Interest Only |
6.01 | Property | 1 | 2615 East 12th Street | 9,316,176 | 9,316,176 | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | 4,665,809 | 4,665,809 | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 4,455,809 | 4,455,809 | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 4,391,471 | 4,391,471 | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | 3,629,191 | 3,629,191 | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | 3,229,265 | 3,229,265 | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | 2,583,309 | 2,583,309 | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | 2,470,074 | 2,470,074 | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | 2,292,500 | 2,292,500 | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 2,195,735 | 2,195,735 | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | 1,743,824 | 1,743,824 | |||||||||
6.12 | Property | 1 | 4222 N Main St | 1,646,544 | 1,646,544 | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | 1,130,294 | 1,130,294 | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 35,000,000 | 35,000,000 | 8.01220% | 0.02049% | 7.99171% | NAP | 236,934.85 | NAP | 2,843,218.20 | Interest Only |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 31,000,000 | 31,000,000 | 7.48000% | 0.02049% | 7.45951% | NAP | 195,917.13 | NAP | 2,351,005.56 | Interest Only |
8.01 | Property | 1 | 521 West 21st Street | 22,000,000 | 22,000,000 | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | 9,000,000 | 9,000,000 | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 24,950,000 | 24,950,000 | 7.48500% | 0.02049% | 7.46451% | NAP | 157,787.09 | NAP | 1,893,445.08 | Interest Only |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 21,000,000 | 21,000,000 | 8.07700% | 0.02049% | 8.05651% | NAP | 143,310.66 | NAP | 1,719,727.92 | Interest Only |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 21,000,000 | 21,000,000 | 7.60150% | 0.02049% | 7.58101% | NAP | 134,873.84 | NAP | 1,618,486.08 | Interest Only |
12 | Loan | 56, 57 | 1 | Waterstone Center | 20,887,900 | 20,887,900 | 7.34010% | 0.02049% | 7.31961% | NAP | 129,540.59 | NAP | 1,554,487.08 | Interest Only |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 20,833,333 | 20,833,333 | 7.78750% | 0.02174% | 7.76576% | NAP | 137,077.43 | NAP | 1,644,929.16 | Interest Only |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 17,680,000 | 17,680,000 | 8.16200% | 0.02049% | 8.14151% | NAP | 121,923.65 | NAP | 1,463,083.80 | Interest Only |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 17,500,000 | 17,500,000 | 5.84000% | 0.02049% | 5.81951% | NAP | 86,349.54 | NAP | 1,036,194.48 | Interest Only |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 15,470,163 | 14,876,178 | 8.18000% | 0.04924% | 8.13076% | 115,684.44 | NAP | 1,388,213.28 | NAP | Amortizing Balloon |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 13,000,000 | 13,000,000 | 4.18762962962963% | 0.02049% | 4.16714% | NAP | 45,996.07 | NAP | 551,952.84 | Interest Only |
17.01 | Property | 1 | 2410-2418 Broadway | 4,439,259 | 4,439,259 | |||||||||
17.02 | Property | 1 | 245 West 51st Street | 4,147,963 | 4,147,963 | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | 2,503,704 | 2,503,704 | |||||||||
17.04 | Property | 1 | 107 West 68th Street | 1,425,185 | 1,425,185 | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | 483,889 | 483,889 | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 10,600,000 | 10,353,458 | 8.00000% | 0.02049% | 7.97951% | 77,779.04 | 71,648.15 | 933,348.48 | 859,777.80 | Interest Only, Amortizing Balloon |
19 | Loan | 1 | College Center Abella | 10,250,000 | 10,250,000 | 7.89120% | 0.02049% | 7.87071% | NAP | 68,340.17 | NAP | 820,082.04 | Interest Only | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 9,800,000 | 9,800,000 | 6.53300% | 0.02049% | 6.51251% | NAP | 54,093.84 | NAP | 649,126.08 | Interest Only |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 8,600,000 | 8,600,000 | 9.08900% | 0.02049% | 9.06851% | NAP | 66,042.53 | NAP | 792,510.36 | Interest Only |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 7,500,000 | 7,500,000 | 8.00000% | 0.02049% | 7.97951% | NAP | 50,694.44 | NAP | 608,333.28 | Interest Only |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 6,325,000 | 6,325,000 | 7.38000% | 0.02049% | 7.35951% | NAP | 39,439.01 | NAP | 473,268.12 | Interest Only |
23.01 | Property | 1 | Stockton | 4,325,000 | 4,325,000 | |||||||||
23.02 | Property | 1 | Nostrand | 2,000,000 | 2,000,000 | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 5,000,000 | 5,000,000 | 7.62000% | 0.02049% | 7.59951% | NAP | 32,190.97 | NAP | 386,291.64 | Interest Only |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 4,300,000 | 4,300,000 | 8.27000% | 0.06049% | 8.20951% | NAP | 30,045.75 | NAP | 360,549.00 | Interest Only |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 3,715,000 | 3,715,000 | 7.50000% | 0.02049% | 7.47951% | NAP | 23,541.23 | NAP | 282,494.76 | Interest Only | |
27 | Loan | 1 | Cityline Safe Storage | 3,000,000 | 3,000,000 | 7.60000% | 0.02049% | 7.57951% | NAP | 19,263.89 | NAP | 231,166.68 | Interest Only | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 2,940,000 | 2,940,000 | 7.50000% | 0.02049% | 7.47951% | NAP | 18,630.21 | NAP | 223,562.52 | Interest Only |
A-4 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | ARD Loan (Yes / No) | Interest Accrual Method | Original Interest-Only Period (Mos.) | Remaining Interest-Only Period (Mos.) | Original Term To Maturity / ARD (Mos.) | Remaining Term To Maturity / ARD (Mos.) | Original Amortization Term (Mos.) | Remaining Amortization Term (Mos.) | Origination Date | Seasoning (Mos.) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/24/2023 | 0 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | No | Actual/360 | 56 | 55 | 56 | 55 | 0 | 0 | 9/13/2023 | 1 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | No | Actual/360 | 60 | 56 | 60 | 56 | 0 | 0 | 6/28/2023 | 4 |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||||||||||
3.02 | Property | 1 | Prime Storage Bohemia | |||||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||||||||||
3.06 | Property | 1 | Prime Storage Snellville | |||||||||||
3.07 | Property | 1 | Prime Storage Shallotte | |||||||||||
3.08 | Property | 1 | Prime Storage Danbury East | |||||||||||
3.09 | Property | 1 | Prime Storage Dallas | |||||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||||||||||
3.11 | Property | 1 | Prime Storage Mesa | |||||||||||
3.12 | Property | 1 | Prime Storage Warren | |||||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | |||||||||||
3.14 | Property | 1 | Prime Storage Bolivia | |||||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | |||||||||||
3.16 | Property | 1 | Prime Storage Clifton | |||||||||||
3.17 | Property | 1 | Prime Storage Centereach | |||||||||||
3.18 | Property | 1 | Prime Storage Marietta North | |||||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | |||||||||||
3.20 | Property | 1 | Prime Storage Summerville | |||||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||||||||||
3.22 | Property | 1 | Prime Storage Marietta South | |||||||||||
3.23 | Property | 1 | Prime Storage Cartersville | |||||||||||
3.24 | Property | 1 | Prime Storage Danbury West | |||||||||||
3.25 | Property | 1 | Prime Storage Scarborough | |||||||||||
3.26 | Property | 1 | Prime Storage Baltimore | |||||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | |||||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||||||||||
3.29 | Property | 1 | Prime Storage Glenville | |||||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||||||||||
3.31 | Property | 1 | Prime Storage Acworth North | |||||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | |||||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | |||||||||||
3.34 | Property | 1 | Prime Storage Acworth East | |||||||||||
3.35 | Property | 1 | Prime Storage Saco | |||||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||||||||||
3.37 | Property | 1 | Prime Storage Green Island | |||||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||||||||||
3.39 | Property | 1 | Prime Storage Marietta | |||||||||||
3.40 | Property | 1 | Prime Storage Midland | |||||||||||
3.41 | Property | 1 | Prime Storage Lansing | |||||||||||
3.42 | Property | 1 | Prime Storage Acworth West | |||||||||||
3.43 | Property | 1 | Prime Storage Boardman | |||||||||||
3.44 | Property | 1 | Prime Storage North Miami | |||||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 10/4/2023 | 1 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||||||||||
4.02 | Property | 1 | Scottsdale Towne Center | |||||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/25/2023 | 0 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/22/2023 | 1 |
6.01 | Property | 1 | 2615 East 12th Street | |||||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | |||||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||||||||||
6.06 | Property | 1 | 3803 N Navarro St | |||||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | |||||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||||||||||
6.11 | Property | 1 | 11615 Rubina Pl | |||||||||||
6.12 | Property | 1 | 4222 N Main St | |||||||||||
6.13 | Property | 1 | 12 Irongate Drive | |||||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/12/2023 | 0 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/10/2023 | 0 |
8.01 | Property | 1 | 521 West 21st Street | |||||||||||
8.02 | Property | 1 | 656 East 133rd Street | |||||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | No | Actual/360 | 60 | 57 | 60 | 57 | 0 | 0 | 8/4/2023 | 3 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/21/2023 | 1 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 8/9/2023 | 2 |
12 | Loan | 56, 57 | 1 | Waterstone Center | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/22/2023 | 1 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | No | Actual/360 | 60 | 55 | 60 | 55 | 0 | 0 | 6/1/2023 | 5 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/20/2023 | 0 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | No | Actual/360 | 60 | 53 | 60 | 53 | 0 | 0 | 4/4/2023 | 7 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | No | Actual/360 | 0 | 0 | 60 | 56 | 360 | 356 | 6/21/2023 | 4 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | No | Actual/360 | 60 | 55 | 60 | 55 | 0 | 0 | 6/1/2023 | 5 |
17.01 | Property | 1 | 2410-2418 Broadway | |||||||||||
17.02 | Property | 1 | 245 West 51st Street | |||||||||||
17.03 | Property | 1 | 324-326 West 84th Street | |||||||||||
17.04 | Property | 1 | 107 West 68th Street | |||||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | |||||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | No | Actual/360 | 24 | 23 | 60 | 59 | 360 | 360 | 9/14/2023 | 1 |
19 | Loan | 1 | College Center Abella | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/8/2023 | 1 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | No | Actual/360 | 60 | 56 | 60 | 56 | 0 | 0 | 6/20/2023 | 4 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/7/2023 | 1 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 8/17/2023 | 2 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 10/27/2023 | 0 |
23.01 | Property | 1 | Stockton | |||||||||||
23.02 | Property | 1 | Nostrand | |||||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/8/2023 | 1 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 8/15/2023 | 2 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/28/2023 | 1 | |
27 | Loan | 1 | Cityline Safe Storage | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 8/16/2023 | 2 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 9/28/2023 | 1 |
A-5 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Payment Due Date | First Payment Date | First P&I Payment Date | Maturity Date or Anticipated Repayment Date | Final Maturity Date | Grace Period - Late Fee (Days) | Grace Period - Default (Days) | Prepayment Provision | Most Recent EGI ($) |
3 | |||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 6 | 12/6/2023 | NAP | 11/6/2028 | NAP | 0 | 0 | L(24),D(29),O(7) | 45,727,085 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 6 | 11/6/2023 | NAP | 6/6/2028 | NAP | 5 | 0 | L(23),YM1(2),DorYM1(25),O(6) | NAV |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 6 | 8/6/2023 | NAP | 7/6/2028 | NAP | 0 | 0 | L(28),D(25),O(7) | 60,511,925 |
3.01 | Property | 1 | Prime Storage Bridgehampton | 3,293,363 | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | 3,031,453 | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | 2,008,231 | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | 2,612,099 | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | 2,382,849 | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | 2,052,414 | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | 1,798,392 | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | 1,775,300 | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | 1,623,050 | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 1,729,251 | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | 1,508,918 | |||||||||
3.12 | Property | 1 | Prime Storage Warren | 1,502,420 | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | 1,289,666 | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | 1,329,375 | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | 1,618,359 | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | 1,305,675 | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | 1,467,143 | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | 1,286,491 | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | 1,506,927 | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | 1,309,737 | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 1,158,381 | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | 1,324,033 | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | 1,190,687 | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | 1,170,248 | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | 972,781 | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | 1,209,993 | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | 1,088,536 | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 1,009,276 | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | 1,167,260 | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 878,390 | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | 950,998 | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | 1,094,422 | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | 1,016,674 | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | 950,386 | |||||||||
3.35 | Property | 1 | Prime Storage Saco | 872,980 | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 927,863 | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | 851,550 | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | 863,768 | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | 838,352 | |||||||||
3.40 | Property | 1 | Prime Storage Midland | 894,127 | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | 779,440 | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | 839,327 | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | 909,331 | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | 695,751 | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 426,260 | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(28),O(7) | 10,256,730 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 6,806,553 | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | 3,450,177 | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 6 | 12/6/2023 | NAP | 11/6/2028 | NAP | 0 | 0 | L(24),DorYM0.5(29),O(7) | 106,555,128 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(23),YM1(2),DorYM1(28),O(7) | 12,013,064 |
6.01 | Property | 1 | 2615 East 12th Street | 2,210,647 | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | 1,215,086 | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 1,055,514 | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 1,159,823 | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | 973,511 | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | 916,169 | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | 723,214 | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | 782,739 | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | 820,163 | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 723,991 | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | 515,616 | |||||||||
6.12 | Property | 1 | 4222 N Main St | 590,114 | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | 326,479 | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 6 | 12/6/2023 | NAP | 11/6/2028 | NAP | 0 | 0 | L(24),D(29),O(7) | 29,655,844 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 6 | 12/6/2023 | NAP | 11/6/2028 | NAP | 0 | 0 | L(24),D(29),O(7) | 4,437,174 |
8.01 | Property | 1 | 521 West 21st Street | 3,188,749 | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | 1,248,425 | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 6 | 9/6/2023 | NAP | 8/6/2028 | NAP | 0 | 0 | L(12),YM1(35),O(13) | NAV |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 5 | 0 | L(25),D(28),O(7) | 4,257,564 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 6 | 10/6/2023 | NAP | 9/6/2028 | NAP | 0 | 0 | L(23),YM1(30),O(7) | 9,271,275 |
12 | Loan | 56, 57 | 1 | Waterstone Center | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(28),O(7) | 3,954,038 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 6 | 7/6/2023 | NAP | 6/6/2028 | NAP | 0 | 0 | L(24),YM1(29),O(7) | 48,803,159 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 1 | 12/1/2023 | NAP | 11/1/2028 | NAP | 0 | 0 | L(25),YM1(32),O(3) | 3,163,786 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 6 | 5/6/2023 | NAP | 4/6/2028 | NAP | 0 | 0 | L(31),D(22),O(7) | 49,314,096 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 6 | 8/6/2023 | 8/6/2023 | 7/6/2028 | NAP | 0 | 0 | L(28),D(26),O(6) | 7,753,913 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 6 | 7/6/2023 | NAP | 6/6/2028 | NAP | 0 | 0 | L(29),D(25),O(6) | 9,136,948 |
17.01 | Property | 1 | 2410-2418 Broadway | 3,098,256 | |||||||||
17.02 | Property | 1 | 245 West 51st Street | 2,818,647 | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | 1,585,358 | |||||||||
17.04 | Property | 1 | 107 West 68th Street | 992,913 | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | 641,776 | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 6 | 11/6/2023 | 11/6/2025 | 10/6/2028 | NAP | 0 | 0 | L(25),D(28),O(7) | 3,929,109 |
19 | Loan | 1 | College Center Abella | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(31),O(4) | 2,583,839 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 6 | 8/6/2023 | NAP | 7/6/2028 | NAP | 5 | 0 | L(24),YM1(29),O(7) | NAV |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 1 | 11/1/2023 | NAP | 10/1/2028 | NAP | 0 | 0 | L(25),D(29),O(6) | 1,322,831 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 6 | 10/6/2023 | NAP | 9/6/2028 | NAP | 0 | 0 | L(26),D(31),O(3) | NAV |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 6 | 12/6/2023 | NAP | 11/6/2028 | NAP | 0 | 0 | L(24),D(29),O(7) | NAV |
23.01 | Property | 1 | Stockton | NAV | |||||||||
23.02 | Property | 1 | Nostrand | NAV | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(28),O(7) | 843,723 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 6 | 10/6/2023 | NAP | 9/6/2028 | NAP | 0 | 0 | L(26),D(27),O(7) | NAV |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(31),O(4) | 566,338 | |
27 | Loan | 1 | Cityline Safe Storage | 6 | 10/6/2023 | NAP | 9/6/2028 | NAP | 0 | 0 | L(26),D(30),O(4) | 409,788 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 6 | 11/6/2023 | NAP | 10/6/2028 | NAP | 0 | 0 | L(25),D(31),O(4) | 458,985 |
A-6 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent NOI Date | Most Recent Description | Second Most Recent EGI ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent NOI Date | Second Most Recent Description | Third Most Recent EGI ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 31,467,109 | 14,259,976 | 9/30/2023 | T-12 | 41,898,594 | 28,995,912 | 12,902,683 | 12/31/2022 | T-12 | 23,199,782 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 15,915,544 | 44,596,382 | 4/30/2023 | T-12 | 59,091,500 | 15,797,611 | 43,293,889 | 12/31/2022 | T-12 | 51,068,424 |
3.01 | Property | 1 | Prime Storage Bridgehampton | 389,086 | 2,904,277 | 4/30/2023 | T-12 | 3,230,617 | 374,729 | 2,855,888 | 12/31/2022 | T-12 | 2,863,849 | |
3.02 | Property | 1 | Prime Storage Bohemia | 589,835 | 2,441,618 | 4/30/2023 | T-12 | 3,014,782 | 590,955 | 2,423,827 | 12/31/2022 | T-12 | 2,779,357 | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | 390,979 | 1,617,252 | 4/30/2023 | T-12 | 1,981,832 | 398,680 | 1,583,152 | 12/31/2022 | T-12 | 1,769,447 | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | 1,632,504 | 979,596 | 4/30/2023 | T-12 | 2,501,877 | 1,639,166 | 862,711 | 12/31/2022 | T-12 | 2,273,396 | |
3.05 | Property | 1 | Prime Storage West Palm Beach | 581,836 | 1,801,013 | 4/30/2023 | T-12 | 2,260,368 | 551,246 | 1,709,122 | 12/31/2022 | T-12 | 1,927,691 | |
3.06 | Property | 1 | Prime Storage Snellville | 447,989 | 1,604,425 | 4/30/2023 | T-12 | 1,999,895 | 445,816 | 1,554,079 | 12/31/2022 | T-12 | 1,761,451 | |
3.07 | Property | 1 | Prime Storage Shallotte | 360,400 | 1,437,992 | 4/30/2023 | T-12 | 1,793,293 | 360,312 | 1,432,981 | 12/31/2022 | T-12 | 1,574,826 | |
3.08 | Property | 1 | Prime Storage Danbury East | 409,248 | 1,366,052 | 4/30/2023 | T-12 | 1,718,324 | 412,740 | 1,305,584 | 12/31/2022 | T-12 | 1,467,883 | |
3.09 | Property | 1 | Prime Storage Dallas | 293,876 | 1,329,175 | 4/30/2023 | T-12 | 1,588,301 | 291,424 | 1,296,877 | 12/31/2022 | T-12 | 1,394,540 | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 483,303 | 1,245,948 | 4/30/2023 | T-12 | 1,669,082 | 469,469 | 1,199,613 | 12/31/2022 | T-12 | 1,542,257 | |
3.11 | Property | 1 | Prime Storage Mesa | 341,202 | 1,167,716 | 4/30/2023 | T-12 | 1,456,107 | 343,203 | 1,112,904 | 12/31/2022 | T-12 | 1,176,783 | |
3.12 | Property | 1 | Prime Storage Warren | 306,647 | 1,195,773 | 4/30/2023 | T-12 | 1,444,537 | 302,824 | 1,141,713 | 12/31/2022 | T-12 | 1,306,104 | |
3.13 | Property | 1 | Prime Storage Portsmouth | 259,656 | 1,030,009 | 4/30/2023 | T-12 | 1,287,358 | 256,630 | 1,030,728 | 12/31/2022 | T-12 | 1,078,274 | |
3.14 | Property | 1 | Prime Storage Bolivia | 258,836 | 1,070,540 | 4/30/2023 | T-12 | 1,306,967 | 254,558 | 1,052,409 | 12/31/2022 | T-12 | 1,082,216 | |
3.15 | Property | 1 | Prime Storage Charlottesville | 401,638 | 1,216,721 | 4/30/2023 | T-12 | 1,637,350 | 405,712 | 1,231,638 | 12/31/2022 | T-12 | 1,462,843 | |
3.16 | Property | 1 | Prime Storage Clifton | 362,872 | 942,803 | 4/30/2023 | T-12 | 1,284,546 | 353,006 | 931,540 | 12/31/2022 | T-12 | 1,158,165 | |
3.17 | Property | 1 | Prime Storage Centereach | 507,669 | 959,474 | 4/30/2023 | T-12 | 1,459,663 | 519,086 | 940,577 | 12/31/2022 | T-12 | 1,245,039 | |
3.18 | Property | 1 | Prime Storage Marietta North | 257,645 | 1,028,846 | 4/30/2023 | T-12 | 1,253,010 | 256,034 | 996,976 | 12/31/2022 | T-12 | 1,078,419 | |
3.19 | Property | 1 | Prime Storage Hardeeville | 337,843 | 1,169,084 | 4/30/2023 | T-12 | 1,457,789 | 331,044 | 1,126,745 | 12/31/2022 | T-12 | 1,082,350 | |
3.20 | Property | 1 | Prime Storage Summerville | 412,259 | 897,477 | 4/30/2023 | T-12 | 1,264,309 | 407,586 | 856,723 | 12/31/2022 | T-12 | 965,576 | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 320,610 | 837,771 | 4/30/2023 | T-12 | 1,100,120 | 312,098 | 788,022 | 12/31/2022 | T-12 | 933,917 | |
3.22 | Property | 1 | Prime Storage Marietta South | 314,968 | 1,009,065 | 4/30/2023 | T-12 | 1,281,734 | 296,501 | 985,233 | 12/31/2022 | T-12 | 1,074,104 | |
3.23 | Property | 1 | Prime Storage Cartersville | 295,210 | 895,477 | 4/30/2023 | T-12 | 1,160,276 | 283,060 | 877,216 | 12/31/2022 | T-12 | 900,371 | |
3.24 | Property | 1 | Prime Storage Danbury West | 336,607 | 833,641 | 4/30/2023 | T-12 | 1,154,035 | 332,068 | 821,967 | 12/31/2022 | T-12 | 1,005,918 | |
3.25 | Property | 1 | Prime Storage Scarborough | 204,689 | 768,092 | 4/30/2023 | T-12 | 969,943 | 210,404 | 759,539 | 12/31/2022 | T-12 | 851,254 | |
3.26 | Property | 1 | Prime Storage Baltimore | 353,073 | 856,920 | 4/30/2023 | T-12 | 1,166,890 | 356,584 | 810,306 | 12/31/2022 | T-12 | 988,629 | |
3.27 | Property | 1 | Prime Storage Farmingdale | 374,814 | 713,721 | 4/30/2023 | T-12 | 1,082,885 | 370,844 | 712,041 | 12/31/2022 | T-12 | 1,004,505 | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 296,673 | 712,603 | 4/30/2023 | T-12 | 994,735 | 296,070 | 698,665 | 12/31/2022 | T-12 | 844,603 | |
3.29 | Property | 1 | Prime Storage Glenville | 334,793 | 832,467 | 4/30/2023 | T-12 | 1,159,981 | 339,985 | 819,996 | 12/31/2022 | T-12 | 1,053,018 | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 243,939 | 634,451 | 4/30/2023 | T-12 | 852,355 | 245,083 | 607,272 | 12/31/2022 | T-12 | 728,674 | |
3.31 | Property | 1 | Prime Storage Acworth North | 229,601 | 721,398 | 4/30/2023 | T-12 | 951,579 | 221,529 | 730,050 | 12/31/2022 | T-12 | 790,946 | |
3.32 | Property | 1 | Prime Storage Rock Hill | 336,974 | 757,449 | 4/30/2023 | T-12 | 1,042,410 | 331,133 | 711,277 | 12/31/2022 | T-12 | 836,476 | |
3.33 | Property | 1 | Prime Storage Simpsonville | 303,578 | 713,096 | 4/30/2023 | T-12 | 976,412 | 313,652 | 662,760 | 12/31/2022 | T-12 | 774,765 | |
3.34 | Property | 1 | Prime Storage Acworth East | 229,153 | 721,233 | 4/30/2023 | T-12 | 939,384 | 231,559 | 707,825 | 12/31/2022 | T-12 | 789,749 | |
3.35 | Property | 1 | Prime Storage Saco | 207,692 | 665,287 | 4/30/2023 | T-12 | 820,491 | 210,900 | 609,591 | 12/31/2022 | T-12 | 724,331 | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 246,844 | 681,019 | 4/30/2023 | T-12 | 897,103 | 244,621 | 652,482 | 12/31/2022 | T-12 | 792,388 | |
3.37 | Property | 1 | Prime Storage Green Island | 244,154 | 607,396 | 4/30/2023 | T-12 | 833,745 | 243,134 | 590,611 | 12/31/2022 | T-12 | 767,195 | |
3.38 | Property | 1 | Prime Storage North Fort Myers | 253,314 | 610,454 | 4/30/2023 | T-12 | 796,885 | 253,755 | 543,130 | 12/31/2022 | T-12 | 621,831 | |
3.39 | Property | 1 | Prime Storage Marietta | 235,037 | 603,315 | 4/30/2023 | T-12 | 815,959 | 227,879 | 588,080 | 12/31/2022 | T-12 | 652,126 | |
3.40 | Property | 1 | Prime Storage Midland | 261,396 | 632,731 | 4/30/2023 | T-12 | 886,736 | 261,019 | 625,717 | 12/31/2022 | T-12 | 838,768 | |
3.41 | Property | 1 | Prime Storage Lansing | 258,337 | 521,103 | 4/30/2023 | T-12 | 773,954 | 267,346 | 506,608 | 12/31/2022 | T-12 | 714,596 | |
3.42 | Property | 1 | Prime Storage Acworth West | 212,494 | 626,833 | 4/30/2023 | T-12 | 816,871 | 206,224 | 610,647 | 12/31/2022 | T-12 | 685,745 | |
3.43 | Property | 1 | Prime Storage Boardman | 341,240 | 568,091 | 4/30/2023 | T-12 | 940,214 | 337,075 | 603,139 | 12/31/2022 | T-12 | 860,282 | |
3.44 | Property | 1 | Prime Storage North Miami | 286,366 | 409,385 | 4/30/2023 | T-12 | 659,411 | 267,221 | 392,190 | 12/31/2022 | T-12 | 516,858 | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 168,666 | 257,594 | 4/30/2023 | T-12 | 407,385 | 173,643 | 233,742 | 12/31/2022 | T-12 | 326,909 | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 3,013,347 | 7,243,383 | 6/30/2023 | T-12 | 9,662,834 | 2,637,475 | 7,025,360 | 12/31/2022 | T-12 | NAV |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 2,079,666 | 4,726,887 | 6/30/2023 | T-12 | 6,235,250 | 1,688,291 | 4,546,959 | 12/31/2022 | T-12 | NAV | |
4.02 | Property | 1 | Scottsdale Towne Center | 933,681 | 2,516,496 | 6/30/2023 | T-12 | 3,427,584 | 949,184 | 2,478,401 | 12/31/2022 | T-12 | NAV | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 72,995,206 | 33,559,922 | 9/30/2023 | T-12 | 85,149,141 | 59,158,454 | 25,990,687 | 12/31/2022 | T-12 | 26,916,192 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 4,768,196 | 7,244,868 | 7/31/2023 | T-12 | 11,420,348 | 4,394,178 | 7,026,170 | 12/31/2022 | T-12 | 9,937,754 |
6.01 | Property | 1 | 2615 East 12th Street | 651,574 | 1,559,072 | 7/31/2023 | T-12 | 2,048,712 | 582,139 | 1,466,573 | 12/31/2022 | T-12 | 1,899,866 | |
6.02 | Property | 1 | Parkglenn Self-Storage | 497,641 | 717,444 | 7/31/2023 | T-12 | 1,188,392 | 500,238 | 688,154 | 12/31/2022 | T-12 | 989,239 | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 308,099 | 747,415 | 7/31/2023 | T-12 | 1,015,008 | 260,869 | 754,139 | 12/31/2022 | T-12 | 1,045,680 | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 440,169 | 719,654 | 7/31/2023 | T-12 | 1,164,983 | 431,728 | 733,254 | 12/31/2022 | T-12 | 1,105,092 | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | 536,701 | 436,810 | 7/31/2023 | T-12 | 921,192 | 434,523 | 486,670 | 12/31/2022 | T-12 | 704,303 | |
6.06 | Property | 1 | 3803 N Navarro St | 304,898 | 611,271 | 7/31/2023 | T-12 | 902,247 | 305,100 | 597,147 | 12/31/2022 | T-12 | 782,857 | |
6.07 | Property | 1 | 2102 NW Stallings Dr | 267,772 | 455,442 | 7/31/2023 | T-12 | 675,338 | 245,232 | 430,106 | 12/31/2022 | T-12 | 567,698 | |
6.08 | Property | 1 | 2005 W Wheeler Ave | 311,524 | 471,215 | 7/31/2023 | T-12 | 755,758 | 299,322 | 456,436 | 12/31/2022 | T-12 | 672,275 | |
6.09 | Property | 1 | 3817 Gulf Freeway | 517,867 | 302,296 | 7/31/2023 | T-12 | 820,225 | 436,176 | 384,049 | 12/31/2022 | T-12 | 703,232 | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 273,345 | 450,646 | 7/31/2023 | T-12 | 704,274 | 277,426 | 426,848 | 12/31/2022 | T-12 | 641,035 | |
6.11 | Property | 1 | 11615 Rubina Pl | 233,168 | 282,448 | 7/31/2023 | T-12 | 411,326 | 244,714 | 166,612 | 12/31/2022 | T-12 | 184,388 | |
6.12 | Property | 1 | 4222 N Main St | 338,200 | 251,913 | 7/31/2023 | T-12 | 516,525 | 292,413 | 224,112 | 12/31/2022 | T-12 | 394,977 | |
6.13 | Property | 1 | 12 Irongate Drive | 87,238 | 239,241 | 7/31/2023 | T-12 | 296,368 | 84,299 | 212,069 | 12/31/2022 | T-12 | 247,113 | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 13,251,467 | 16,404,377 | 7/31/2023 | T-12 | 29,029,206 | 12,821,365 | 16,207,841 | 12/31/2022 | T-12 | 28,808,446 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 1,105,193 | 3,331,981 | 7/31/2023 | T-12 | 4,259,429 | 1,117,585 | 3,141,844 | 12/31/2022 | T-12 | 3,556,062 |
8.01 | Property | 1 | 521 West 21st Street | 820,409 | 2,368,340 | 7/31/2023 | T-12 | 3,108,541 | 749,986 | 2,358,555 | 12/31/2022 | T-12 | 2,778,994 | |
8.02 | Property | 1 | 656 East 133rd Street | 284,785 | 963,640 | 7/31/2023 | T-12 | 1,150,888 | 367,599 | 783,289 | 12/31/2022 | T-12 | 777,068 | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 1,723,118 | 2,534,446 | 6/30/2023 | T-12 | 4,234,449 | 1,880,903 | 2,353,546 | 12/31/2022 | T-12 | 3,954,136 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 6,278,508 | 2,992,767 | 5/31/2023 | T-12 | 9,062,928 | 6,202,179 | 2,860,749 | 12/31/2022 | T-12 | 6,992,710 |
12 | Loan | 56, 57 | 1 | Waterstone Center | 1,286,373 | 2,667,665 | 7/31/2023 | T-12 | 3,623,652 | 1,274,103 | 2,349,550 | 12/31/2022 | T-12 | 3,693,938 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 23,821,189 | 24,981,970 | 4/30/2023 | T-12 | 50,751,623 | 26,352,623 | 24,399,000 | 12/31/2022 | T-12 | 48,746,255 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 1,630,877 | 1,532,909 | 9/30/2023 | T-12 | 2,898,992 | 1,528,888 | 1,370,104 | 12/31/2022 | T-12 | NAV |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 17,827,217 | 31,486,880 | 12/31/2022 | T-12 | 47,450,874 | 18,047,218 | 29,403,655 | 12/31/2021 | T-12 | 44,617,062 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 5,258,895 | 2,495,018 | 5/31/2023 | T-12 | 7,346,281 | 5,149,613 | 2,196,668 | 12/31/2022 | T-12 | 5,397,638 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 3,632,923 | 5,504,026 | Various | T-12 | 8,765,177 | 3,653,111 | 5,112,066 | 12/31/2022 | T-12 | 7,026,801 |
17.01 | Property | 1 | 2410-2418 Broadway | 1,033,001 | 2,065,255 | 3/31/2023 | T-12 | 3,065,169 | 1,036,944 | 2,028,224 | 12/31/2022 | T-12 | 2,607,604 | |
17.02 | Property | 1 | 245 West 51st Street | 1,277,524 | 1,541,123 | 4/30/2023 | T-12 | 2,657,546 | 1,285,629 | 1,371,917 | 12/31/2022 | T-12 | 1,852,380 | |
17.03 | Property | 1 | 324-326 West 84th Street | 590,554 | 994,803 | 4/30/2023 | T-12 | 1,507,631 | 594,408 | 913,223 | 12/31/2022 | T-12 | 1,249,562 | |
17.04 | Property | 1 | 107 West 68th Street | 418,655 | 574,257 | 4/30/2023 | T-12 | 939,950 | 427,240 | 512,709 | 12/31/2022 | T-12 | 815,479 | |
17.05 | Property | 1 | 1443-1447 York Avenue | 313,188 | 328,587 | 4/30/2023 | T-12 | 594,882 | 308,890 | 285,992 | 12/31/2022 | T-12 | 501,777 | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 2,369,520 | 1,559,589 | 8/31/2023 | T-12 | 3,632,318 | 2,270,930 | 1,361,388 | 12/31/2022 | T-12 | 2,775,242 |
19 | Loan | 1 | College Center Abella | 958,535 | 1,625,304 | 6/30/2023 | T-12 | 2,453,833 | 921,287 | 1,532,546 | 12/31/2022 | T-12 | 2,193,180 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 344,308 | 978,523 | 6/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
23.01 | Property | 1 | Stockton | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
23.02 | Property | 1 | Nostrand | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 435,119 | 408,604 | 6/30/2023 | T-12 | 726,762 | 436,755 | 290,007 | 12/31/2022 | T-12 | 895,076 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 179,111 | 387,227 | 7/31/2023 | T-12 | 530,241 | 176,302 | 353,938 | 12/31/2022 | T-12 | NAV | |
27 | Loan | 1 | Cityline Safe Storage | 115,518 | 294,270 | 6/30/2023 | T-12 | 376,387 | 108,965 | 267,423 | 12/31/2022 | T-12 | NAV | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 165,670 | 293,315 | 7/31/2023 | T-12 | 463,071 | 167,291 | 295,780 | 12/31/2022 | T-12 | NAV |
A-7 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent NOI Date | Third Most Recent Description | Underwritten Economic Occupancy (%) | Underwritten EGI ($) | Underwritten Expenses ($) | Underwritten Net Operating Income ($) | Underwritten Replacement / FF&E Reserve ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 19,785,132 | 3,414,650 | 12/31/2021 | T-12 | 86.6% | 45,727,085 | 31,279,180 | 14,447,905 | 1,829,083 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | NAV | NAV | NAV | NAV | 92.4% | 12,750,089 | 2,792,400 | 9,957,689 | 44,912 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 15,714,888 | 35,353,536 | 12/31/2021 | T-12 | 84.6% | 60,943,890 | 16,459,571 | 44,484,319 | 583,006 |
3.01 | Property | 1 | Prime Storage Bridgehampton | 372,920 | 2,490,929 | 12/31/2021 | T-12 | 85.3% | 3,353,231 | 400,335 | 2,952,896 | 14,269 | |
3.02 | Property | 1 | Prime Storage Bohemia | 593,715 | 2,185,642 | 12/31/2021 | T-12 | 82.0% | 3,044,429 | 598,123 | 2,446,306 | 14,111 | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | 407,493 | 1,361,954 | 12/31/2021 | T-12 | 86.5% | 2,012,766 | 403,479 | 1,609,287 | 29,183 | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | 1,250,983 | 1,022,413 | 12/31/2021 | T-12 | 86.4% | 2,720,484 | 1,653,998 | 1,066,485 | 30,617 | |
3.05 | Property | 1 | Prime Storage West Palm Beach | 565,232 | 1,362,459 | 12/31/2021 | T-12 | 95.7% | 2,526,988 | 638,249 | 1,888,740 | 38,851 | |
3.06 | Property | 1 | Prime Storage Snellville | 459,504 | 1,301,947 | 12/31/2021 | T-12 | 89.7% | 2,085,064 | 457,327 | 1,627,737 | 11,994 | |
3.07 | Property | 1 | Prime Storage Shallotte | 328,055 | 1,246,771 | 12/31/2021 | T-12 | 82.8% | 1,760,390 | 374,594 | 1,385,796 | 18,433 | |
3.08 | Property | 1 | Prime Storage Danbury East | 400,599 | 1,067,284 | 12/31/2021 | T-12 | 87.3% | 1,761,327 | 483,263 | 1,278,064 | 14,969 | |
3.09 | Property | 1 | Prime Storage Dallas | 289,036 | 1,105,504 | 12/31/2021 | T-12 | 87.2% | 1,668,284 | 302,780 | 1,365,505 | 9,430 | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 480,638 | 1,061,619 | 12/31/2021 | T-12 | 88.9% | 1,818,099 | 479,055 | 1,339,044 | 10,069 | |
3.11 | Property | 1 | Prime Storage Mesa | 353,973 | 822,810 | 12/31/2021 | T-12 | 89.1% | 1,520,869 | 349,774 | 1,171,095 | 15,141 | |
3.12 | Property | 1 | Prime Storage Warren | 319,339 | 986,765 | 12/31/2021 | T-12 | 93.5% | 1,560,227 | 313,895 | 1,246,332 | 15,943 | |
3.13 | Property | 1 | Prime Storage Portsmouth | 233,902 | 844,372 | 12/31/2021 | T-12 | 81.0% | 1,273,941 | 291,345 | 982,596 | 9,600 | |
3.14 | Property | 1 | Prime Storage Bolivia | 245,005 | 837,211 | 12/31/2021 | T-12 | 77.0% | 1,259,320 | 270,160 | 989,161 | 8,349 | |
3.15 | Property | 1 | Prime Storage Charlottesville | 395,954 | 1,066,889 | 12/31/2021 | T-12 | 71.5% | 1,457,962 | 434,945 | 1,023,017 | 22,894 | |
3.16 | Property | 1 | Prime Storage Clifton | 425,205 | 732,960 | 12/31/2021 | T-12 | 84.8% | 1,294,899 | 368,054 | 926,845 | 13,483 | |
3.17 | Property | 1 | Prime Storage Centereach | 579,756 | 665,283 | 12/31/2021 | T-12 | 83.5% | 1,517,715 | 520,866 | 996,849 | 10,257 | |
3.18 | Property | 1 | Prime Storage Marietta North | 287,615 | 790,804 | 12/31/2021 | T-12 | 85.0% | 1,247,694 | 261,747 | 985,947 | 9,035 | |
3.19 | Property | 1 | Prime Storage Hardeeville | 330,959 | 751,391 | 12/31/2021 | T-12 | 86.8% | 1,489,541 | 347,534 | 1,142,007 | 4,386 | |
3.20 | Property | 1 | Prime Storage Summerville | 419,258 | 546,318 | 12/31/2021 | T-12 | 89.1% | 1,376,991 | 426,433 | 950,558 | 10,000 | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 295,332 | 638,585 | 12/31/2021 | T-12 | 91.5% | 1,194,725 | 343,240 | 851,485 | 6,617 | |
3.22 | Property | 1 | Prime Storage Marietta South | 305,206 | 768,898 | 12/31/2021 | T-12 | 88.8% | 1,319,193 | 315,567 | 1,003,626 | 17,058 | |
3.23 | Property | 1 | Prime Storage Cartersville | 301,088 | 599,283 | 12/31/2021 | T-12 | 85.3% | 1,186,529 | 298,068 | 888,461 | 15,229 | |
3.24 | Property | 1 | Prime Storage Danbury West | 301,837 | 704,081 | 12/31/2021 | T-12 | 81.8% | 1,141,311 | 424,003 | 717,309 | 6,660 | |
3.25 | Property | 1 | Prime Storage Scarborough | 215,197 | 636,057 | 12/31/2021 | T-12 | 82.6% | 949,712 | 206,285 | 743,427 | 15,057 | |
3.26 | Property | 1 | Prime Storage Baltimore | 406,621 | 582,008 | 12/31/2021 | T-12 | 83.9% | 1,214,835 | 356,696 | 858,140 | 25,278 | |
3.27 | Property | 1 | Prime Storage Farmingdale | 398,426 | 606,079 | 12/31/2021 | T-12 | 82.5% | 1,102,566 | 381,238 | 721,329 | 11,771 | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 307,442 | 537,161 | 12/31/2021 | T-12 | 79.0% | 1,054,046 | 298,291 | 755,754 | 11,793 | |
3.29 | Property | 1 | Prime Storage Glenville | 339,049 | 713,969 | 12/31/2021 | T-12 | 82.9% | 1,154,471 | 358,477 | 795,995 | 8,343 | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 261,020 | 467,654 | 12/31/2021 | T-12 | 89.9% | 910,293 | 244,172 | 666,121 | 16,803 | |
3.31 | Property | 1 | Prime Storage Acworth North | 216,857 | 574,089 | 12/31/2021 | T-12 | 82.6% | 916,278 | 247,633 | 668,645 | 7,744 | |
3.32 | Property | 1 | Prime Storage Rock Hill | 347,820 | 488,656 | 12/31/2021 | T-12 | 81.7% | 1,057,337 | 339,535 | 717,802 | 6,267 | |
3.33 | Property | 1 | Prime Storage Simpsonville | 338,572 | 436,193 | 12/31/2021 | T-12 | 80.5% | 993,547 | 306,494 | 687,053 | 9,024 | |
3.34 | Property | 1 | Prime Storage Acworth East | 245,064 | 544,685 | 12/31/2021 | T-12 | 86.1% | 956,535 | 233,534 | 723,001 | 9,421 | |
3.35 | Property | 1 | Prime Storage Saco | 213,229 | 511,102 | 12/31/2021 | T-12 | 87.6% | 894,789 | 210,500 | 684,288 | 4,429 | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 284,819 | 507,569 | 12/31/2021 | T-12 | 88.1% | 929,401 | 246,485 | 682,916 | 7,171 | |
3.37 | Property | 1 | Prime Storage Green Island | 238,813 | 528,382 | 12/31/2021 | T-12 | 81.3% | 836,734 | 244,491 | 592,244 | 4,779 | |
3.38 | Property | 1 | Prime Storage North Fort Myers | 230,932 | 390,899 | 12/31/2021 | T-12 | 91.2% | 932,437 | 260,511 | 671,927 | 9,429 | |
3.39 | Property | 1 | Prime Storage Marietta | 239,645 | 412,481 | 12/31/2021 | T-12 | 87.3% | 834,313 | 237,946 | 596,367 | 8,047 | |
3.40 | Property | 1 | Prime Storage Midland | 250,414 | 588,354 | 12/31/2021 | T-12 | 84.1% | 895,515 | 252,760 | 642,755 | 9,396 | |
3.41 | Property | 1 | Prime Storage Lansing | 242,354 | 472,242 | 12/31/2021 | T-12 | 81.6% | 771,169 | 245,593 | 525,576 | 8,043 | |
3.42 | Property | 1 | Prime Storage Acworth West | 188,395 | 497,350 | 12/31/2021 | T-12 | 81.5% | 836,288 | 212,955 | 623,333 | 5,243 | |
3.43 | Property | 1 | Prime Storage Boardman | 376,890 | 483,392 | 12/31/2021 | T-12 | 67.0% | 974,571 | 350,072 | 624,499 | 31,009 | |
3.44 | Property | 1 | Prime Storage North Miami | 248,158 | 268,700 | 12/31/2021 | T-12 | 85.4% | 698,614 | 298,236 | 400,377 | 10,150 | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 182,569 | 144,340 | 12/31/2021 | T-12 | 80.1% | 438,458 | 170,834 | 267,624 | 7,234 | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | NAV | NAV | NAV | NAV | 95.0% | 11,841,358 | 3,087,027 | 8,754,331 | 64,810 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | NAV | NAV | NAV | NAV | 95.0% | 7,211,714 | 2,064,874 | 5,146,840 | 39,597 | |
4.02 | Property | 1 | Scottsdale Towne Center | NAV | NAV | NAV | NAV | 95.0% | 4,629,644 | 1,022,153 | 3,607,490 | 25,214 | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 29,338,995 | (2,422,803) | 12/31/2021 | T-12 | 60.2% | 111,076,788 | 76,576,225 | 34,500,562 | 5,424,586 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 4,247,197 | 5,690,557 | 12/31/2021 | T-12 | 100.0% | 12,172,844 | 4,830,213 | 7,342,631 | 83,298 |
6.01 | Property | 1 | 2615 East 12th Street | 565,068 | 1,334,798 | 12/31/2021 | T-12 | 100.0% | 2,261,971 | 757,955 | 1,504,016 | 8,848 | |
6.02 | Property | 1 | Parkglenn Self-Storage | 445,531 | 543,708 | 12/31/2021 | T-12 | 100.0% | 1,224,766 | 494,452 | 730,314 | 7,553 | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 236,797 | 808,883 | 12/31/2021 | T-12 | 100.0% | 1,041,903 | 295,259 | 746,645 | 5,116 | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 482,107 | 622,984 | 12/31/2021 | T-12 | 100.0% | 1,149,418 | 399,536 | 749,882 | 10,930 | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | 408,593 | 295,710 | 12/31/2021 | T-12 | 100.0% | 988,719 | 502,306 | 486,413 | 6,446 | |
6.06 | Property | 1 | 3803 N Navarro St | 315,045 | 467,812 | 12/31/2021 | T-12 | 100.0% | 902,552 | 335,655 | 566,897 | 8,125 | |
6.07 | Property | 1 | 2102 NW Stallings Dr | 230,467 | 337,231 | 12/31/2021 | T-12 | 100.0% | 760,156 | 266,361 | 493,795 | 5,710 | |
6.08 | Property | 1 | 2005 W Wheeler Ave | 292,723 | 379,552 | 12/31/2021 | T-12 | 100.0% | 817,348 | 350,294 | 467,054 | 5,695 | |
6.09 | Property | 1 | 3817 Gulf Freeway | 363,771 | 339,461 | 12/31/2021 | T-12 | 100.0% | 823,488 | 445,949 | 377,539 | 7,193 | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 249,813 | 391,222 | 12/31/2021 | T-12 | 100.0% | 743,656 | 335,322 | 408,334 | 5,655 | |
6.11 | Property | 1 | 11615 Rubina Pl | 234,628 | (50,240) | 12/31/2021 | T-12 | 100.0% | 534,620 | 229,219 | 305,401 | 3,270 | |
6.12 | Property | 1 | 4222 N Main St | 304,839 | 90,138 | 12/31/2021 | T-12 | 100.0% | 591,772 | 329,773 | 261,999 | 6,625 | |
6.13 | Property | 1 | 12 Irongate Drive | 117,815 | 129,298 | 12/31/2021 | T-12 | 100.0% | 332,474 | 88,132 | 244,342 | 2,133 | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 11,994,816 | 16,813,630 | 12/31/2021 | T-12 | 83.7% | 30,556,308 | 14,081,611 | 16,474,697 | 122,444 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 1,156,485 | 2,399,577 | 12/31/2021 | T-12 | 95.0% | 4,332,114 | 1,211,551 | 3,120,563 | 12,236 |
8.01 | Property | 1 | 521 West 21st Street | 766,239 | 2,012,755 | 12/31/2021 | T-12 | 95.0% | 3,051,948 | 827,547 | 2,224,400 | 4,736 | |
8.02 | Property | 1 | 656 East 133rd Street | 390,245 | 386,823 | 12/31/2021 | T-12 | 95.0% | 1,280,166 | 384,004 | 896,162 | 7,500 | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAV | NAV | NAV | NAV | 95.0% | 3,483,830 | 641,840 | 2,841,990 | 27,324 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 1,858,627 | 2,095,509 | 12/31/2021 | T-12 | 100.0% | 4,257,565 | 2,019,892 | 2,237,673 | 0 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 4,969,552 | 2,023,158 | 12/31/2021 | T-12 | 60.3% | 9,327,465 | 6,355,038 | 2,972,426 | 373,099 |
12 | Loan | 56, 57 | 1 | Waterstone Center | 1,289,551 | 2,404,387 | 12/31/2021 | T-12 | 94.4% | 3,817,078 | 1,348,029 | 2,469,049 | 33,851 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 26,530,878 | 22,215,377 | 12/31/2021 | T-12 | 80.5% | 57,815,225 | 25,392,147 | 32,423,078 | 474,036 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAV | NAV | NAV | NAV | 95.0% | 3,687,972 | 1,684,048 | 2,003,924 | 30,800 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 18,489,525 | 26,127,537 | 12/31/2020 | T-12 | 74.5% | 51,753,039 | 18,582,167 | 33,170,872 | 319,806 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 3,924,576 | 1,473,062 | 12/31/2021 | T-12 | 72.5% | 7,753,913 | 5,349,983 | 2,403,930 | 310,157 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 3,434,840 | 3,591,961 | 12/31/2021 | T-12 | 97.0% | 10,258,769 | 3,618,806 | 6,639,963 | 42,061 |
17.01 | Property | 1 | 2410-2418 Broadway | 956,923 | 1,650,681 | 12/31/2021 | T-12 | 96.3% | 3,318,231 | 1,009,585 | 2,308,646 | 9,981 | |
17.02 | Property | 1 | 245 West 51st Street | 1,203,100 | 649,280 | 12/31/2021 | T-12 | 97.0% | 3,262,292 | 1,296,739 | 1,965,553 | 13,750 | |
17.03 | Property | 1 | 324-326 West 84th Street | 560,294 | 689,268 | 12/31/2021 | T-12 | 97.0% | 1,744,803 | 568,365 | 1,176,439 | 9,600 | |
17.04 | Property | 1 | 107 West 68th Street | 401,133 | 414,345 | 12/31/2021 | T-12 | 100.0% | 1,137,476 | 433,973 | 703,502 | 6,000 | |
17.05 | Property | 1 | 1443-1447 York Avenue | 313,389 | 188,387 | 12/31/2021 | T-12 | 96.0% | 795,968 | 310,145 | 485,824 | 2,730 | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 1,951,319 | 823,923 | 12/31/2021 | T-12 | 71.2% | 3,929,109 | 2,358,195 | 1,570,914 | 157,164 |
19 | Loan | 1 | College Center Abella | 970,943 | 1,222,237 | 12/31/2021 | T-12 | 82.5% | 2,410,995 | 900,250 | 1,510,745 | 34,402 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAV | NAV | NAV | NAV | 95.0% | 13,492,252 | 134,923 | 13,357,329 | 29,600 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAV | NAV | NAV | NAV | 92.0% | 1,571,350 | 464,246 | 1,107,103 | 14,006 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAV | NAV | NAV | NAV | 97.0% | 1,095,778 | 322,327 | 773,451 | 2,439 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAV | NAV | NAV | NAV | 97.0% | 833,882 | 239,095 | 594,787 | 6,861 |
23.01 | Property | 1 | Stockton | NAV | NAV | NAV | NAV | 97.0% | 558,825 | 168,495 | 390,330 | 5,896 | |
23.02 | Property | 1 | Nostrand | NAV | NAV | NAV | NAV | 95.4% | 275,057 | 70,600 | 204,456 | 965 | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 445,397 | 449,679 | 12/31/2021 | T-12 | 97.0% | 952,426 | 465,370 | 487,056 | 8,332 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAV | NAV | NAV | NAV | 95.0% | 678,761 | 133,421 | 545,340 | 5,400 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAV | NAV | NAV | NAV | 76.7% | 566,338 | 191,780 | 374,558 | 7,545 | |
27 | Loan | 1 | Cityline Safe Storage | NAV | NAV | NAV | NAV | 92.0% | 409,788 | 118,084 | 291,705 | 4,728 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAV | NAV | NAV | NAV | 81.6% | 458,985 | 175,394 | 283,591 | 6,083 |
A-8 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten TI / LC ($) | Underwritten Net Cash Flow ($) | Underwritten NOI DSCR (x) | Underwritten NCF DSCR (x) | Underwritten NOI Debt Yield (%) | Underwritten NCF Debt Yield (%) | Appraised Value ($) | Appraised Value Type | Appraisal Date |
4 | 4 | ||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 0 | 12,618,822 | 2.72 | 2.38 | 20.5% | 17.9% | 216,000,000 | As Is | 10/3/2023 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 144,900 | 9,767,877 | 1.41 | 1.39 | 10.6% | 10.4% | 150,700,000 | As Is | 6/10/2023 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 0 | 43,901,313 | 1.69 | 1.67 | 11.0% | 10.8% | 790,800,000 | As Portfolio | 4/21/2023 |
3.01 | Property | 1 | Prime Storage Bridgehampton | 0 | 2,938,627 | 56,000,000 | As Is | 3/3/2023 | |||||
3.02 | Property | 1 | Prime Storage Bohemia | 0 | 2,432,195 | 47,200,000 | As Is | 3/2/2023 | |||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | 0 | 1,580,104 | 30,200,000 | As Is | 3/3/2023 | |||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | 0 | 1,035,868 | 27,500,000 | As Is | 3/2/2023 | |||||
3.05 | Property | 1 | Prime Storage West Palm Beach | 0 | 1,849,888 | 26,500,000 | As Is | 3/1/2023 | |||||
3.06 | Property | 1 | Prime Storage Snellville | 0 | 1,615,742 | 25,000,000 | As Is | 3/2/2023 | |||||
3.07 | Property | 1 | Prime Storage Shallotte | 0 | 1,367,363 | 23,100,000 | As Is | 2/28/2023 | |||||
3.08 | Property | 1 | Prime Storage Danbury East | 0 | 1,263,096 | 22,500,000 | As Is | 2/27/2023 | |||||
3.09 | Property | 1 | Prime Storage Dallas | 0 | 1,356,075 | 21,400,000 | As Is | 3/1/2023 | |||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 0 | 1,328,976 | 21,100,000 | As Is | 3/2/2023 | |||||
3.11 | Property | 1 | Prime Storage Mesa | 0 | 1,155,954 | 21,000,000 | As Is | 3/3/2023 | |||||
3.12 | Property | 1 | Prime Storage Warren | 0 | 1,230,390 | 19,900,000 | As Is | 3/2/2023 | |||||
3.13 | Property | 1 | Prime Storage Portsmouth | 0 | 972,996 | 18,000,000 | As Is | 3/2/2023 | |||||
3.14 | Property | 1 | Prime Storage Bolivia | 0 | 980,812 | 17,900,000 | As Is | 2/28/2023 | |||||
3.15 | Property | 1 | Prime Storage Charlottesville | 0 | 1,000,123 | 17,400,000 | As Is | 3/2/2023 | |||||
3.16 | Property | 1 | Prime Storage Clifton | 0 | 913,362 | 17,100,000 | As Is | 2/27/2023 | |||||
3.17 | Property | 1 | Prime Storage Centereach | 0 | 986,592 | 16,800,000 | As Is | 3/3/2023 | |||||
3.18 | Property | 1 | Prime Storage Marietta North | 0 | 976,912 | 16,200,000 | As Is | 3/1/2023 | |||||
3.19 | Property | 1 | Prime Storage Hardeeville | 0 | 1,137,622 | 15,800,000 | As Is | 3/6/2023 | |||||
3.20 | Property | 1 | Prime Storage Summerville | 0 | 940,558 | 15,750,000 | As Is | 3/6/2023 | |||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 0 | 844,868 | 15,100,000 | As Is | 3/7/2023 | |||||
3.22 | Property | 1 | Prime Storage Marietta South | 0 | 986,568 | 15,000,000 | As Is | 3/1/2023 | |||||
3.23 | Property | 1 | Prime Storage Cartersville | 0 | 873,232 | 14,100,000 | As Is | 3/1/2023 | |||||
3.24 | Property | 1 | Prime Storage Danbury West | 0 | 710,649 | 14,000,000 | As Is | 2/27/2023 | |||||
3.25 | Property | 1 | Prime Storage Scarborough | 0 | 728,370 | 13,500,000 | As Is | 3/3/2023 | |||||
3.26 | Property | 1 | Prime Storage Baltimore | 0 | 832,861 | 12,800,000 | As Is | 3/3/2023 | |||||
3.27 | Property | 1 | Prime Storage Farmingdale | 0 | 709,557 | 12,800,000 | As Is | 3/2/2023 | |||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 0 | 743,961 | 12,500,000 | As Is | 3/3/2023 | |||||
3.29 | Property | 1 | Prime Storage Glenville | 0 | 787,652 | 11,800,000 | As Is | 3/6/2023 | |||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 0 | 649,318 | 11,300,000 | As Is | 3/2/2023 | |||||
3.31 | Property | 1 | Prime Storage Acworth North | 0 | 660,902 | 11,100,000 | As Is | 3/1/2023 | |||||
3.32 | Property | 1 | Prime Storage Rock Hill | 0 | 711,535 | 11,050,000 | As Is | 3/6/2023 | |||||
3.33 | Property | 1 | Prime Storage Simpsonville | 0 | 678,029 | 10,850,000 | As Is | 3/6/2023 | |||||
3.34 | Property | 1 | Prime Storage Acworth East | 0 | 713,580 | 10,500,000 | As Is | 3/1/2023 | |||||
3.35 | Property | 1 | Prime Storage Saco | 0 | 679,860 | 10,500,000 | As Is | 3/3/2023 | |||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 0 | 675,744 | 10,400,000 | As Is | 3/3/2023 | |||||
3.37 | Property | 1 | Prime Storage Green Island | 0 | 587,465 | 9,500,000 | As Is | 3/6/2023 | |||||
3.38 | Property | 1 | Prime Storage North Fort Myers | 0 | 662,498 | 9,450,000 | As Is | 3/7/2023 | |||||
3.39 | Property | 1 | Prime Storage Marietta | 0 | 588,320 | 9,300,000 | As Is | 3/1/2023 | |||||
3.40 | Property | 1 | Prime Storage Midland | 0 | 633,359 | 9,000,000 | As Is | 3/1/2023 | |||||
3.41 | Property | 1 | Prime Storage Lansing | 0 | 517,533 | 8,875,000 | As Is | 3/2/2023 | |||||
3.42 | Property | 1 | Prime Storage Acworth West | 0 | 618,091 | 8,800,000 | As Is | 3/1/2023 | |||||
3.43 | Property | 1 | Prime Storage Boardman | 0 | 593,490 | 8,360,000 | As Is | 2/24/2023 | |||||
3.44 | Property | 1 | Prime Storage North Miami | 0 | 390,227 | 6,500,000 | As Is | 3/1/2023 | |||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 0 | 260,390 | 4,250,000 | As Is | 3/6/2023 | |||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 324,051 | 8,365,470 | 1.36 | 1.30 | 10.8% | 10.3% | 143,450,000 | Prospective Market Value Upon Stabilization | Various |
4.01 | Property | 1 | Gilbert Gateway Towne Center | 197,984 | 4,909,260 | 80,410,000 | Prospective Market Value Upon Stabilization | 2/1/2024 | |||||
4.02 | Property | 1 | Scottsdale Towne Center | 126,068 | 3,456,209 | 63,040,000 | Prospective Market Value Upon Stabilization | 11/1/2024 | |||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 0 | 29,075,976 | 1.82 | 1.53 | 16.0% | 13.5% | 391,300,000 | As Is | 9/7/2023 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 0 | 7,259,334 | 1.21 | 1.20 | 8.6% | 8.5% | 142,000,000 | As Is Portfolio | Various |
6.01 | Property | 1 | 2615 East 12th Street | 0 | 1,495,168 | 28,850,000 | As Is | 8/5/2023 | |||||
6.02 | Property | 1 | Parkglenn Self-Storage | 0 | 722,761 | 14,450,000 | As Is | 8/8/2023 | |||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 0 | 741,529 | 13,800,000 | As Is | 8/3/2023 | |||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 0 | 738,952 | 13,600,000 | As Is | 8/10/2023 | |||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | 0 | 479,967 | 11,240,000 | As Is | 8/8/2023 | |||||
6.06 | Property | 1 | 3803 N Navarro St | 0 | 558,772 | 10,000,000 | As Is | 8/11/2023 | |||||
6.07 | Property | 1 | 2102 NW Stallings Dr | 0 | 488,085 | 8,000,000 | As Is | 8/9/2023 | |||||
6.08 | Property | 1 | 2005 W Wheeler Ave | 0 | 461,359 | 7,650,000 | As Is | 8/10/2023 | |||||
6.09 | Property | 1 | 3817 Gulf Freeway | 0 | 370,346 | 7,100,000 | As Is | 8/10/2023 | |||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 0 | 402,679 | 6,800,000 | As Is | 8/10/2023 | |||||
6.11 | Property | 1 | 11615 Rubina Pl | 0 | 302,131 | 5,400,000 | As Is | 8/9/2023 | |||||
6.12 | Property | 1 | 4222 N Main St | 0 | 255,374 | 5,100,000 | As Is | 8/10/2023 | |||||
6.13 | Property | 1 | 12 Irongate Drive | 0 | 242,209 | 3,500,000 | As Is | 8/9/2023 | |||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 806,580 | 15,545,673 | 2.54 | 2.39 | 20.6% | 19.4% | 242,500,000 | As Is | 7/11/2023 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 0 | 3,108,327 | 1.33 | 1.32 | 10.1% | 10.0% | 53,300,000 | As Is | Various |
8.01 | Property | 1 | 521 West 21st Street | 0 | 2,219,665 | 37,600,000 | As Is | 8/17/2023 | |||||
8.02 | Property | 1 | 656 East 133rd Street | 0 | 888,662 | 15,700,000 | As Is | 8/18/2023 | |||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 136,618 | 2,678,049 | 1.50 | 1.41 | 11.4% | 10.7% | 38,400,000 | As Is | 6/20/2023 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 0 | 2,237,673 | 1.30 | 1.30 | 10.7% | 10.7% | 45,000,000 | As Is | 8/1/2023 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 0 | 2,599,328 | 1.84 | 1.61 | 14.2% | 12.4% | 38,200,000 | As Complete | 9/30/2023 |
12 | Loan | 56, 57 | 1 | Waterstone Center | 121,531 | 2,313,666 | 1.59 | 1.49 | 11.8% | 11.1% | 31,900,000 | As Is | 8/2/2023 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 2,844,215 | 29,104,827 | 1.87 | 1.68 | 14.7% | 13.2% | 428,000,000 | As Is | 3/30/2023 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 0 | 1,973,124 | 1.37 | 1.35 | 11.3% | 11.2% | 27,700,000 | As Is | 8/25/2023 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 1,387,420 | 31,463,647 | 2.49 | 2.36 | 14.7% | 14.0% | 396,000,000 | As Is | 2/7/2023 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 0 | 2,093,773 | 1.73 | 1.51 | 15.5% | 13.5% | 27,600,000 | As Is | 5/18/2023 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 12,405 | 6,585,497 | 2.90 | 2.87 | 12.3% | 12.2% | 137,700,000 | As Is | Various |
17.01 | Property | 1 | 2410-2418 Broadway | 5,205 | 2,293,460 | 42,600,000 | As Is | 3/23/2023 | |||||
17.02 | Property | 1 | 245 West 51st Street | 5,000 | 1,946,803 | 41,600,000 | As Is | 3/22/2023 | |||||
17.03 | Property | 1 | 324-326 West 84th Street | 0 | 1,166,839 | 28,400,000 | As Is | 3/23/2023 | |||||
17.04 | Property | 1 | 107 West 68th Street | 0 | 697,502 | 14,300,000 | As Is | 3/23/2023 | |||||
17.05 | Property | 1 | 1443-1447 York Avenue | 2,200 | 480,894 | 10,800,000 | As Is | 3/22/2023 | |||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 0 | 1,413,749 | 1.68 | 1.51 | 14.8% | 13.3% | 17,300,000 | As Is (Extraordinary Assumption) | 6/6/2023 |
19 | Loan | 1 | College Center Abella | 67,242 | 1,409,101 | 1.84 | 1.72 | 14.7% | 13.7% | 23,200,000 | As Is | 6/26/2023 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 0 | 13,327,729 | 2.38 | 2.37 | 15.8% | 15.7% | 215,000,000 | As Is | 5/12/2023 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 51,582 | 1,041,515 | 1.40 | 1.31 | 12.9% | 12.1% | 12,000,000 | As Is | 5/22/2023 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 16,997 | 754,015 | 1.27 | 1.24 | 10.3% | 10.1% | 14,350,000 | As Is | 6/21/2023 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 6,200 | 581,726 | 1.26 | 1.23 | 9.4% | 9.2% | 9,725,000 | As Is | 9/20/2023 |
23.01 | Property | 1 | Stockton | 0 | 384,434 | 6,625,000 | As Is | 9/20/2023 | |||||
23.02 | Property | 1 | Nostrand | 6,200 | 197,291 | 3,100,000 | As Is | 9/20/2023 | |||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 0 | 478,723 | 1.26 | 1.24 | 9.7% | 9.6% | 8,500,000 | As Is | 5/24/2023 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 0 | 539,940 | 1.51 | 1.50 | 12.7% | 12.6% | 12,500,000 | As Is | 1/19/2023 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 0 | 367,013 | 1.33 | 1.30 | 10.1% | 9.9% | 7,400,000 | As Is | 8/15/2023 | |
27 | Loan | 1 | Cityline Safe Storage | 0 | 286,977 | 1.26 | 1.24 | 9.7% | 9.6% | 5,350,000 | As Is | 6/25/2023 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 0 | 277,509 | 1.27 | 1.24 | 9.6% | 9.4% | 6,300,000 | As Is | 8/15/2023 |
A-9 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Cut-off Date LTV Ratio (%) | LTV Ratio at Maturity / ARD (%) | Leased Occupancy (%) | Occupancy Date | Single Tenant (Y/N) | Largest Tenant | Largest Tenant SF | Largest Tenant % of NRA | Largest Tenant Lease Expiration Date |
5 | 6 | ||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 32.6% | 32.6% | 86.6% | 9/30/2023 | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 62.4% | 62.4% | 92.5% | 9/13/2023 | No | Credit Karma | 224,201 | 69.9% | 6/30/2031 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 51.3% | 51.3% | 84.6% | ||||||
3.01 | Property | 1 | Prime Storage Bridgehampton | 85.3% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.02 | Property | 1 | Prime Storage Bohemia | 82.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.03 | Property | 1 | Prime Storage Westhampton Beach | 86.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.04 | Property | 1 | Prime Storage Queens Jamaica | 86.4% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.05 | Property | 1 | Prime Storage West Palm Beach | 95.7% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.06 | Property | 1 | Prime Storage Snellville | 89.7% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.07 | Property | 1 | Prime Storage Shallotte | 82.8% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.08 | Property | 1 | Prime Storage Danbury East | 87.3% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.09 | Property | 1 | Prime Storage Dallas | 87.2% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 88.9% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.11 | Property | 1 | Prime Storage Mesa | 89.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.12 | Property | 1 | Prime Storage Warren | 93.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.13 | Property | 1 | Prime Storage Portsmouth | 81.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.14 | Property | 1 | Prime Storage Bolivia | 77.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.15 | Property | 1 | Prime Storage Charlottesville | 71.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.16 | Property | 1 | Prime Storage Clifton | 84.8% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.17 | Property | 1 | Prime Storage Centereach | 83.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.18 | Property | 1 | Prime Storage Marietta North | 85.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.19 | Property | 1 | Prime Storage Hardeeville | 86.8% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.20 | Property | 1 | Prime Storage Summerville | 89.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 91.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.22 | Property | 1 | Prime Storage Marietta South | 88.8% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.23 | Property | 1 | Prime Storage Cartersville | 85.3% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.24 | Property | 1 | Prime Storage Danbury West | 81.8% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.25 | Property | 1 | Prime Storage Scarborough | 82.6% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.26 | Property | 1 | Prime Storage Baltimore | 83.9% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.27 | Property | 1 | Prime Storage Farmingdale | 82.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 79.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.29 | Property | 1 | Prime Storage Glenville | 82.9% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 89.9% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.31 | Property | 1 | Prime Storage Acworth North | 82.6% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.32 | Property | 1 | Prime Storage Rock Hill | 81.7% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.33 | Property | 1 | Prime Storage Simpsonville | 80.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.34 | Property | 1 | Prime Storage Acworth East | 86.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.35 | Property | 1 | Prime Storage Saco | 87.6% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 88.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.37 | Property | 1 | Prime Storage Green Island | 81.3% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.38 | Property | 1 | Prime Storage North Fort Myers | 91.2% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.39 | Property | 1 | Prime Storage Marietta | 87.3% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.40 | Property | 1 | Prime Storage Midland | 84.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.41 | Property | 1 | Prime Storage Lansing | 81.6% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.42 | Property | 1 | Prime Storage Acworth West | 81.5% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.43 | Property | 1 | Prime Storage Boardman | 67.0% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.44 | Property | 1 | Prime Storage North Miami | 85.4% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 80.1% | 4/30/2023 | NAP | NAP | NAP | NAP | NAP | |||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 56.5% | 56.5% | 97.3% | ||||||
4.01 | Property | 1 | Gilbert Gateway Towne Center | 96.0% | 7/1/2023 | No | Ross Dress for Less, Inc. | 29,788 | 11.3% | 1/31/2026 | |||
4.02 | Property | 1 | Scottsdale Towne Center | 99.2% | 7/1/2023 | No | Mountainside Fitness | 50,320 | 29.9% | 12/31/2038 | |||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 54.9% | 54.9% | 57.1% | 9/30/2023 | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 59.9% | 59.9% | 92.6% | ||||||
6.01 | Property | 1 | 2615 East 12th Street | 96.2% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.02 | Property | 1 | Parkglenn Self-Storage | 95.5% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 86.9% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 89.5% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.05 | Property | 1 | 13404 E Broncos Pkwy | 98.2% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.06 | Property | 1 | 3803 N Navarro St | 85.8% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.07 | Property | 1 | 2102 NW Stallings Dr | 97.0% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.08 | Property | 1 | 2005 W Wheeler Ave | 95.3% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.09 | Property | 1 | 3817 Gulf Freeway | 91.8% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 93.5% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.11 | Property | 1 | 11615 Rubina Pl | 91.4% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.12 | Property | 1 | 4222 N Main St | 94.0% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
6.13 | Property | 1 | 12 Irongate Drive | 84.3% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 33.0% | 33.0% | 82.6% | 9/25/2023 | No | LaunchDarkly | 33,710 | 6.9% | 3/31/2026 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 58.2% | 58.2% | 100.0% | ||||||
8.01 | Property | 1 | 521 West 21st Street | 100.0% | 7/1/2023 | No | Only Be, Inc. | 10,000 | 32.9% | 10/31/2033 | |||
8.02 | Property | 1 | 656 East 133rd Street | 100.0% | 7/1/2023 | No | WDF, Inc. | 60,000 | 66.7% | 3/31/2032 | |||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 65.0% | 65.0% | 100.0% | 11/6/2023 | Yes | Phoenix Newspapers, Inc. | 273,235 | 100.0% | 7/31/2033 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 46.7% | 46.7% | 100.0% | 11/6/2023 | Yes | Home Depot USA, INC | 135,000 | 100.0% | 12/30/2026 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 55.0% | 55.0% | 60.3% | 5/31/2023 | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | 65.5% | 65.5% | 100.0% | 9/19/2023 | No | Best Buy | 53,000 | 32.8% | 7/31/2027 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 51.4% | 51.4% | 80.6% | 5/17/2023 | No | Price Water House Coopers LLP | 138,413 | 7.3% | 4/30/2030 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 63.8% | 63.8% | 98.1% | 10/17/2023 | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 56.8% | 56.8% | 75.1% | 3/22/2023 | No | MUFG Bank Ltd. | 137,076 | 8.6% | 8/31/2029 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 56.1% | 53.9% | 72.5% | 5/31/2023 | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 39.2% | 39.2% | 96.5% | ||||||
17.01 | Property | 1 | 2410-2418 Broadway | 93.5% | 3/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
17.02 | Property | 1 | 245 West 51st Street | 96.9% | 3/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
17.03 | Property | 1 | 324-326 West 84th Street | 97.9% | 3/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
17.04 | Property | 1 | 107 West 68th Street | 100.0% | 3/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
17.05 | Property | 1 | 1443-1447 York Avenue | 91.7% | 3/31/2023 | NAP | NAP | NAP | NAP | NAP | |||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 61.3% | 59.8% | 71.2% | 8/31/2023 | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | 44.2% | 44.2% | 86.1% | 8/22/2023 | No | San Pablo Supermarket | 31,750 | 32.3% | 11/30/2038 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 39.4% | 39.4% | 100.0% | 11/6/2023 | Yes | DIRECTV, LLC | 296,000 | 100.0% | 3/31/2038 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 71.7% | 71.7% | 100.0% | 8/23/2023 | No | N Consulting Engineers | 31,409 | 62.8% | 12/31/2037 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 52.3% | 52.3% | 100.0% | 7/1/2023 | No | Calzedonia USA Inc | 1,100 | 52.4% | 1/18/2033 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 65.0% | 65.0% | 100.0% | ||||||
23.01 | Property | 1 | Stockton | 100.0% | 9/26/2023 | NAP | NAP | NAP | NAP | NAP | |||
23.02 | Property | 1 | Nostrand | 100.0% | 9/26/2023 | No | CSC Holdings, LLC dba Optimum | 2,000 | 64.5% | 6/29/2026 | |||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 58.8% | 58.8% | 100.0% | 8/1/2023 | No | DD Hibachi Inc., DBA DD Soup Dumpling / DD Hibachi | 2,200 | 66.7% | 9/30/2032 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 34.4% | 34.4% | 100.0% | 11/6/2023 | Yes | Bob's Discount Furniture | 260,567 | 100.0% | 10/31/2032 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 50.2% | 50.2% | 80.6% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | 56.1% | 56.1% | 90.6% | 6/30/2023 | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 46.7% | 46.7% | 85.2% | 7/31/2023 | NAP | NAP | NAP | NAP | NAP |
A-10 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Second Largest Tenant | Second Largest Tenant SF | Second Largest Tenant % of NRA | Second Largest Tenant Lease Expiration Date | Third Largest Tenant | Third Largest Tenant SF | Third Largest Tenant % of NRA | Third Largest Tenant Lease Expiration Date |
6 | 6 | |||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | Endurance Services Limited | 43,123 | 13.4% | 12/31/2032 | Compass North | 7,935 | 2.5% | 6/30/2033 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | ||||||||
3.01 | Property | 1 | Prime Storage Bridgehampton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.02 | Property | 1 | Prime Storage Bohemia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.05 | Property | 1 | Prime Storage West Palm Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.06 | Property | 1 | Prime Storage Snellville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.07 | Property | 1 | Prime Storage Shallotte | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.08 | Property | 1 | Prime Storage Danbury East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.09 | Property | 1 | Prime Storage Dallas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.11 | Property | 1 | Prime Storage Mesa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.12 | Property | 1 | Prime Storage Warren | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.13 | Property | 1 | Prime Storage Portsmouth | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.14 | Property | 1 | Prime Storage Bolivia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.15 | Property | 1 | Prime Storage Charlottesville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.16 | Property | 1 | Prime Storage Clifton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.17 | Property | 1 | Prime Storage Centereach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.18 | Property | 1 | Prime Storage Marietta North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.19 | Property | 1 | Prime Storage Hardeeville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.20 | Property | 1 | Prime Storage Summerville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.22 | Property | 1 | Prime Storage Marietta South | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.23 | Property | 1 | Prime Storage Cartersville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.24 | Property | 1 | Prime Storage Danbury West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.25 | Property | 1 | Prime Storage Scarborough | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.26 | Property | 1 | Prime Storage Baltimore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.27 | Property | 1 | Prime Storage Farmingdale | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.29 | Property | 1 | Prime Storage Glenville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.31 | Property | 1 | Prime Storage Acworth North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.32 | Property | 1 | Prime Storage Rock Hill | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.33 | Property | 1 | Prime Storage Simpsonville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.34 | Property | 1 | Prime Storage Acworth East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.35 | Property | 1 | Prime Storage Saco | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.37 | Property | 1 | Prime Storage Green Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.38 | Property | 1 | Prime Storage North Fort Myers | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.39 | Property | 1 | Prime Storage Marietta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.40 | Property | 1 | Prime Storage Midland | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.41 | Property | 1 | Prime Storage Lansing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.42 | Property | 1 | Prime Storage Acworth West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.43 | Property | 1 | Prime Storage Boardman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.44 | Property | 1 | Prime Storage North Miami | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | ||||||||
4.01 | Property | 1 | Gilbert Gateway Towne Center | Mega Furniture | 28,428 | 10.8% | 5/31/2032 | Michaels | 23,690 | 9.0% | 3/31/2025 | |
4.02 | Property | 1 | Scottsdale Towne Center | TJ Maxx | 31,000 | 18.4% | 1/31/2026 | Ross Dress for Less, Inc. | 26,770 | 15.9% | 1/31/2032 | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | ||||||||
6.01 | Property | 1 | 2615 East 12th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.02 | Property | 1 | Parkglenn Self-Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.06 | Property | 1 | 3803 N Navarro St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.07 | Property | 1 | 2102 NW Stallings Dr | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.08 | Property | 1 | 2005 W Wheeler Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.09 | Property | 1 | 3817 Gulf Freeway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.11 | Property | 1 | 11615 Rubina Pl | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.12 | Property | 1 | 4222 N Main St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.13 | Property | 1 | 12 Irongate Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | Dentons US LLP | 28,396 | 5.8% | 10/31/2024 | Premier Workspaces | 20,977 | 4.3% | 11/30/2024 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | ||||||||
8.01 | Property | 1 | 521 West 21st Street | Tanya Bonakdar Gallery, Inc | 10,000 | 32.9% | 10/31/2033 | Tina Kim Fine Art, LLC | 5,000 | 16.5% | 1/31/2025 | |
8.02 | Property | 1 | 656 East 133rd Street | Stage Storage and Leasing, Inc. | 30,000 | 33.3% | 4/30/2024 | NAP | NAP | NAP | NAP | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | Ross Dress for Less | 25,302 | 15.6% | 1/31/2033 | Michaels | 23,696 | 14.6% | 2/28/2026 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Fox Rothschild | 79,337 | 4.2% | 11/30/2040 | Stradley, Ronon, Stevens & Young, LLP | 69,111 | 3.6% | 12/31/2033 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | E-Trade Financial Corporation | 132,265 | 8.3% | 1/31/2031 | Collectors Universe | 130,419 | 8.2% | 11/30/2038 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | ||||||||
17.01 | Property | 1 | 2410-2418 Broadway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.02 | Property | 1 | 245 West 51st Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.03 | Property | 1 | 324-326 West 84th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.04 | Property | 1 | 107 West 68th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.05 | Property | 1 | 1443-1447 York Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | City of San Pablo | 8,909 | 9.1% | 12/31/2030 | Sonjas Preschool | 4,709 | 4.8% | 6/30/2025 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | Online Trading Academy | 12,500 | 25.0% | 7/21/2025 | Applied Biology/DA Labs | 2,565 | 5.1% | 2/28/2027 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 1126 Convenience Store Inc | 1,000 | 47.6% | 5/1/2028 | NAP | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | ||||||||
23.01 | Property | 1 | Stockton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
23.02 | Property | 1 | Nostrand | Minks & Mattes LLC (Salon) | 1,100 | 35.5% | 9/20/2032 | NAP | NAP | NAP | NAP | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | Manhattan Hardware & Houseware, Inc. | 1,100 | 33.3% | 6/30/2034 | NAP | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-11 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Fourth Largest Tenant | Fourth Largest Tenant SF | Fourth Largest Tenant % of NRA | Fourth Largest Tenant Lease Expiration Date | Fifth Largest Tenant | Fifth Largest Tenant SF | Fifth Largest Tenant % of NRA | Fifth Largest Tenant Lease Expiration Date |
6 | 6 | |||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | Strategic Wealth | 3,540 | 1.1% | 5/31/2033 | NAP | NAP | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | ||||||||
3.01 | Property | 1 | Prime Storage Bridgehampton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.02 | Property | 1 | Prime Storage Bohemia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.05 | Property | 1 | Prime Storage West Palm Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.06 | Property | 1 | Prime Storage Snellville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.07 | Property | 1 | Prime Storage Shallotte | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.08 | Property | 1 | Prime Storage Danbury East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.09 | Property | 1 | Prime Storage Dallas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.11 | Property | 1 | Prime Storage Mesa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.12 | Property | 1 | Prime Storage Warren | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.13 | Property | 1 | Prime Storage Portsmouth | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.14 | Property | 1 | Prime Storage Bolivia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.15 | Property | 1 | Prime Storage Charlottesville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.16 | Property | 1 | Prime Storage Clifton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.17 | Property | 1 | Prime Storage Centereach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.18 | Property | 1 | Prime Storage Marietta North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.19 | Property | 1 | Prime Storage Hardeeville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.20 | Property | 1 | Prime Storage Summerville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.22 | Property | 1 | Prime Storage Marietta South | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.23 | Property | 1 | Prime Storage Cartersville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.24 | Property | 1 | Prime Storage Danbury West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.25 | Property | 1 | Prime Storage Scarborough | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.26 | Property | 1 | Prime Storage Baltimore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.27 | Property | 1 | Prime Storage Farmingdale | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.29 | Property | 1 | Prime Storage Glenville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.31 | Property | 1 | Prime Storage Acworth North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.32 | Property | 1 | Prime Storage Rock Hill | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.33 | Property | 1 | Prime Storage Simpsonville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.34 | Property | 1 | Prime Storage Acworth East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.35 | Property | 1 | Prime Storage Saco | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.37 | Property | 1 | Prime Storage Green Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.38 | Property | 1 | Prime Storage North Fort Myers | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.39 | Property | 1 | Prime Storage Marietta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.40 | Property | 1 | Prime Storage Midland | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.41 | Property | 1 | Prime Storage Lansing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.42 | Property | 1 | Prime Storage Acworth West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.43 | Property | 1 | Prime Storage Boardman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.44 | Property | 1 | Prime Storage North Miami | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | ||||||||
4.01 | Property | 1 | Gilbert Gateway Towne Center | Petsmart | 19,107 | 7.2% | 1/31/2026 | Cost Plus | 18,300 | 6.9% | 1/31/2026 | |
4.02 | Property | 1 | Scottsdale Towne Center | Sola Salon Studios | 5,000 | 3.0% | 3/31/2028 | Wells Fargo Bank, N.A. | 4,000 | 2.4% | 8/31/2026 | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | ||||||||
6.01 | Property | 1 | 2615 East 12th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.02 | Property | 1 | Parkglenn Self-Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.06 | Property | 1 | 3803 N Navarro St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.07 | Property | 1 | 2102 NW Stallings Dr | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.08 | Property | 1 | 2005 W Wheeler Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.09 | Property | 1 | 3817 Gulf Freeway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.11 | Property | 1 | 11615 Rubina Pl | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.12 | Property | 1 | 4222 N Main St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.13 | Property | 1 | 12 Irongate Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | Big Fish Games, Inc | 20,977 | 4.3% | 3/31/2025 | Simpson Gumpertz | 20,775 | 4.2% | 11/30/2028 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | ||||||||
8.01 | Property | 1 | 521 West 21st Street | Paula Cooper, Inc. | 4,500 | 14.8% | 9/30/2028 | Kravets Wehby Gallery | 850 | 2.8% | 10/31/2032 | |
8.02 | Property | 1 | 656 East 133rd Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | Old Navy | 14,660 | 9.1% | 1/31/2029 | Petco | 12,620 | 7.8% | 1/31/2030 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Pond Lehocky Giordano Disability | 66,315 | 3.5% | 6/30/2028 | Wolters Kluwer Health, Inc. | 65,389 | 3.4% | 3/31/2029 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Sumitomo Mitsui Banking | 111,605 | 7.0% | 12/31/2036 | Arch Insurance Company | 106,815 | 6.7% | 5/31/2024 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | ||||||||
17.01 | Property | 1 | 2410-2418 Broadway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.02 | Property | 1 | 245 West 51st Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.03 | Property | 1 | 324-326 West 84th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.04 | Property | 1 | 107 West 68th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.05 | Property | 1 | 1443-1447 York Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | Sukie Country Kitchen | 4,134 | 4.2% | 10/31/2028 | El Tazumal | 4,077 | 4.1% | 12/31/2027 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | EKN Development Group | 2,132 | 4.3% | 12/31/2037 | Clarke Financial Group | 1,417 | 2.8% | 2/29/2024 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | ||||||||
23.01 | Property | 1 | Stockton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
23.02 | Property | 1 | Nostrand | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-12 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Environmental Phase I Report Date | Environmental Phase II Report Date | Engineering Report Date | Seismic Report Date | PML or SEL (%) | Flood Zone | Ownership Interest | Ground Lease Expiration Date | Ground Lease Extension Terms | Annual Ground Lease Payment as of the Cut-off Date ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 9/28/2023 | NAP | 9/28/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 6/8/2023 | NAP | 6/8/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | ||||||||||
3.01 | Property | 1 | Prime Storage Bridgehampton | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.02 | Property | 1 | Prime Storage Bohemia | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.05 | Property | 1 | Prime Storage West Palm Beach | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.06 | Property | 1 | Prime Storage Snellville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.07 | Property | 1 | Prime Storage Shallotte | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.08 | Property | 1 | Prime Storage Danbury East | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.09 | Property | 1 | Prime Storage Dallas | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.11 | Property | 1 | Prime Storage Mesa | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.12 | Property | 1 | Prime Storage Warren | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
3.13 | Property | 1 | Prime Storage Portsmouth | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.14 | Property | 1 | Prime Storage Bolivia | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.15 | Property | 1 | Prime Storage Charlottesville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.16 | Property | 1 | Prime Storage Clifton | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.17 | Property | 1 | Prime Storage Centereach | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.18 | Property | 1 | Prime Storage Marietta North | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.19 | Property | 1 | Prime Storage Hardeeville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.20 | Property | 1 | Prime Storage Summerville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.22 | Property | 1 | Prime Storage Marietta South | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.23 | Property | 1 | Prime Storage Cartersville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.24 | Property | 1 | Prime Storage Danbury West | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.25 | Property | 1 | Prime Storage Scarborough | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.26 | Property | 1 | Prime Storage Baltimore | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.27 | Property | 1 | Prime Storage Farmingdale | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
3.29 | Property | 1 | Prime Storage Glenville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.31 | Property | 1 | Prime Storage Acworth North | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.32 | Property | 1 | Prime Storage Rock Hill | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.33 | Property | 1 | Prime Storage Simpsonville | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.34 | Property | 1 | Prime Storage Acworth East | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.35 | Property | 1 | Prime Storage Saco | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.37 | Property | 1 | Prime Storage Green Island | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
3.38 | Property | 1 | Prime Storage North Fort Myers | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
3.39 | Property | 1 | Prime Storage Marietta | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.40 | Property | 1 | Prime Storage Midland | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.41 | Property | 1 | Prime Storage Lansing | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.42 | Property | 1 | Prime Storage Acworth West | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.43 | Property | 1 | Prime Storage Boardman | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
3.44 | Property | 1 | Prime Storage North Miami | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | 3/20/2023 | NAP | 3/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | ||||||||||
4.01 | Property | 1 | Gilbert Gateway Towne Center | 7/25/2023 | NAP | 7/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
4.02 | Property | 1 | Scottsdale Towne Center | 7/25/2023 | NAP | 7/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 9/20/2023 | NAP | 9/15/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | ||||||||||
6.01 | Property | 1 | 2615 East 12th Street | 8/25/2023 | NAP | 8/25/2023 | 8/25/2023 | 13% | No | Fee | NAP | NAP | NAP | |
6.02 | Property | 1 | Parkglenn Self-Storage | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | 8/20/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | 8/22/2023 | NAP | 8/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.06 | Property | 1 | 3803 N Navarro St | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.07 | Property | 1 | 2102 NW Stallings Dr | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.08 | Property | 1 | 2005 W Wheeler Ave | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.09 | Property | 1 | 3817 Gulf Freeway | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | 8/25/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.11 | Property | 1 | 11615 Rubina Pl | 8/28/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.12 | Property | 1 | 4222 N Main St | 8/25/2023 | NAP | 8/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
6.13 | Property | 1 | 12 Irongate Drive | 8/28/2023 | NAP | 8/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 8/22/2023 | NAP | 7/20/2023 | 8/1/2023 | 10% | No | Fee | NAP | NAP | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | ||||||||||
8.01 | Property | 1 | 521 West 21st Street | 8/24/2023 | NAP | 8/28/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | |
8.02 | Property | 1 | 656 East 133rd Street | 8/24/2023 | NAP | 8/28/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 6/28/2023 | NAP | 3/8/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 8/15/2023 | NAP | 8/21/2023 | NAP | NAP | No | Leasehold | 10/31/2027 | 5, 10-year extension options | 1,955,559 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 6/15/2023 | NAP | 6/16/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | 8/3/2023 | NAP | 8/22/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 4/6/2023 | NAP | 4/6/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 7/10/2023 | NAP | 7/10/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 3/24/2023 | NAP | 3/3/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 5/18/2023 | NAP | 5/18/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | ||||||||||
17.01 | Property | 1 | 2410-2418 Broadway | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
17.02 | Property | 1 | 245 West 51st Street | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
17.03 | Property | 1 | 324-326 West 84th Street | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
17.04 | Property | 1 | 107 West 68th Street | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
17.05 | Property | 1 | 1443-1447 York Avenue | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 7/6/2023 | NAP | 7/6/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | 8/28/2023 | NAP | 7/10/2023 | 7/10/2023 | 18% | No | Fee | NAP | NAP | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 5/24/2023 | NAP | 5/22/2023 | 10/5/2022 | 16% | No | Fee | NAP | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 8/25/2023 | NAP | 8/25/2023 | 12/19/2022 | 12% | No | Fee | NAP | NAP | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 6/29/2023 | NAP | 6/29/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | ||||||||||
23.01 | Property | 1 | Stockton | 9/27/2023 | NAP | 9/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
23.02 | Property | 1 | Nostrand | 9/27/2023 | NAP | 9/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 5/31/2023 | NAP | 5/30/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 2/10/2023 | NAP | 2/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 7/20/2023 | NAP | 7/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | 6/23/2023 | NAP | 6/23/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 7/20/2023 | NAP | 7/20/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP |
A-13 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Annual Ground Rent Increases (Y/N) | Upfront RE Tax Reserve ($) | Monthly RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Monthly Insurance Reserve ($) | Upfront Replacement / PIP Reserve ($) | Monthly Replacement / FF&E Reserve ($) | Replacement Reserve Caps ($) | Upfront TI/LC Reserve ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | NAP | 1,692,065 | 338,413 | 180,799 | 36,160 | 0 | 152,424 | 0 | 0 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 0 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 1,212,979 | 404,326 | 0 | 0 | 0 | 48,584 | 0 | 0 | |
3.01 | Property | 1 | Prime Storage Bridgehampton | NAP | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | NAP | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | NAP | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | NAP | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | NAP | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | NAP | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | NAP | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | NAP | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | NAP | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | NAP | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | NAP | |||||||||
3.12 | Property | 1 | Prime Storage Warren | NAP | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | NAP | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | NAP | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | NAP | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | NAP | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | NAP | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | NAP | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | NAP | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | NAP | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | NAP | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | NAP | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | NAP | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | NAP | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | NAP | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | NAP | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | NAP | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | NAP | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | NAP | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | NAP | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | NAP | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | NAP | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | NAP | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | NAP | |||||||||
3.35 | Property | 1 | Prime Storage Saco | NAP | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | NAP | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | NAP | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | NAP | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | NAP | |||||||||
3.40 | Property | 1 | Prime Storage Midland | NAP | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | NAP | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | NAP | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | NAP | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | NAP | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | NAP | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 222,032 | 74,011 | 92,009 | 11,501 | 0 | 5,401 | 64,810 | 1,250,000 | |
4.01 | Property | 1 | Gilbert Gateway Towne Center | NAP | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | NAP | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 0 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 0 | Springing | 0 | Springing | 0 | 6,941 | 249,893 | 0 | |
6.01 | Property | 1 | 2615 East 12th Street | NAP | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | NAP | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | NAP | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | NAP | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | NAP | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | NAP | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | NAP | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | NAP | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | NAP | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | NAP | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | NAP | |||||||||
6.12 | Property | 1 | 4222 N Main St | NAP | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | NAP | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | NAP | 2,088,863 | 298,409 | 0 | Springing | 0 | 10,230 | 368,250 | 5,000,000 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 375,922 | 75,184 | 45,366 | 15,122 | 0 | 1,020 | 0 | 550,000 | |
8.01 | Property | 1 | 521 West 21st Street | NAP | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | NAP | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | 107,201 | 26,800 | 0 | Springing | 0 | 2,277 | 120,000 | 500,000 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | Yes | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 0 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | NAP | 210,371 | 26,296 | 0 | Springing | 0 | 30,904 | 0 | 0 |
12 | Loan | 56, 57 | 1 | Waterstone Center | NAP | 0 | Springing | 0 | Springing | 0 | 2,821 | 125,000 | 500,000 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 25,000,000 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | 29,271 | 29,271 | 26,071 | 13,035 | 2,567 | 2,567 | 0 | 0 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | NAP | 696,822 | 696,822 | 272,774 | 136,387 | 8,000,000 | 26,650 | 0 | 15,000,000 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | NAP | 146,402 | 13,309 | 111,512 | 9,293 | 0 | 28,257 | 0 | 0 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 0 | 216,566 | 126,563 | Springing | 0 | $3,350 (Residential); $155 (Commercial) | 0 | 0 | |
17.01 | Property | 1 | 2410-2418 Broadway | NAP | |||||||||
17.02 | Property | 1 | 245 West 51st Street | NAP | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | NAP | |||||||||
17.04 | Property | 1 | 107 West 68th Street | NAP | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | NAP | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | NAP | 209,862 | 19,078 | 5,432 | 5,432 | 0 | 6,493 | 0 | 0 |
19 | Loan | 1 | College Center Abella | NAP | 156,608 | 156,608 | 0 | Springing | 0 | 2,867 | 0 | 0 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 0 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP | 79,203 | 12,227 | 6,164 | 1,541 | 0 | 0 | 0 | 0 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | 86,396 | 21,599 | 2,206 | 552 | 0 | 203 | 0 | 0 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 62,144 | 10,357 | 13,608 | 1,701 | 0 | 572 | 0 | 0 | |
23.01 | Property | 1 | Stockton | NAP | |||||||||
23.02 | Property | 1 | Nostrand | NAP | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | 93,159 | 23,290 | 30,584 | 3,398 | 0 | 694 | 0 | 0 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | 42,629 | 7,105 | 4,718 | Springing | 0 | 450 | 10,800 | 0 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | 9,280 | 4,640 | 0 | Springing | 42,306 | 629 | 0 | 0 | |
27 | Loan | 1 | Cityline Safe Storage | NAP | 10,488 | 1,498 | 0 | Springing | 0 | 394 | 0 | 0 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | 8,503 | 4,252 | 1,187 | 594 | 17,545 | 507 | 0 | 0 |
A-14 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Monthly TI/LC Reserve ($) | TI/LC Caps ($) | Upfront Debt Service Reserve ($) | Monthly Debt Service Reserve ($) | Debt Service Reserve Cap ($) | Upfront Deferred Maintenance Reserve ($) | Upfront Other Reserve ($) | Monthly Other Reserve ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 0 | 0 | 0 | 0 | 0 | 585,710 | 0 | Springing |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 0 | 0 | 0 | 0 | 0 | 703,313 | 0 | 0 |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | |||||||||
3.12 | Property | 1 | Prime Storage Warren | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | |||||||||
3.35 | Property | 1 | Prime Storage Saco | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | |||||||||
3.40 | Property | 1 | Prime Storage Midland | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Springing | 648,102 | 0 | 0 | 0 | 5,688 | 3,326,843 | 0 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 0 | 0 | 0 | 0 | 0 | 61,270 | 0 | 0 |
6.01 | Property | 1 | 2615 East 12th Street | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | |||||||||
6.12 | Property | 1 | 4222 N Main St | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | Springing | 5,000,000 | 0 | 0 | 0 | 0 | 2,620,671 | 0 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | Springing | 550,000 | 0 | 0 | 0 | 0 | 0 | 0 |
8.01 | Property | 1 | 521 West 21st Street | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | Springing | 0 | 0 | 0 | 0 | 60,000 | 0 | 0 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | Springing | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 0 | 0 | 0 | Springing | 0 | 32,500 | 76,500 | Springing |
12 | Loan | 56, 57 | 1 | Waterstone Center | Springing | 500,000 | 0 | 0 | 0 | 0 | 0 | 0 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Springing | 25,000,000 | 0 | 0 | 0 | 0 | 11,112,904 | 0 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 0 | 0 | 0 | 0 | 0 | 0 | 73,823 | 0 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Springing | 15,000,000 | 0 | 0 | 0 | 0 | 40,614,319 | 0 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 0 | 0 | 0 | 0 | 0 | 0 | 56,776 | 14,194 |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 1,034 | 0 | 500,000 | 0 | 0 | 112,649 | 0 | 0 |
17.01 | Property | 1 | 2410-2418 Broadway | |||||||||
17.02 | Property | 1 | 245 West 51st Street | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | |||||||||
17.04 | Property | 1 | 107 West 68th Street | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 0 | 0 | 0 | 0 | 0 | 6,250 | 2,505,000 | 0 |
19 | Loan | 1 | College Center Abella | 8,191 | 294,876 | 0 | 0 | 0 | 0 | 0 | 0 | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 5,211 | 250,000 | 0 | 0 | 0 | 0 | 0 | 0 |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 6,250 | 200,000 | 0 | 0 | 0 | 5,625 | 310,000 | 0 |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 517 | 0 | 0 | 0 | 0 | 36,600 | 59,167 | Springing |
23.01 | Property | 1 | Stockton | |||||||||
23.02 | Property | 1 | Nostrand | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 0 | 0 | 0 | 0 | 0 | 19,813 | 0 | 0 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 0 | 0 | 0 | 0 | 0 | 23,438 | 0 | 0 | |
27 | Loan | 1 | Cityline Safe Storage | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 0 | 0 | 0 | 0 | 0 | 66,500 | 0 | 0 |
A-15 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Description |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | PIP Reserve (Monthly: Springing), Seasonal Reserve (Monthly: Springing, Cap: $1,100,000) |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | NAP |
3.01 | Property | 1 | Prime Storage Bridgehampton | ||
3.02 | Property | 1 | Prime Storage Bohemia | ||
3.03 | Property | 1 | Prime Storage Westhampton Beach | ||
3.04 | Property | 1 | Prime Storage Queens Jamaica | ||
3.05 | Property | 1 | Prime Storage West Palm Beach | ||
3.06 | Property | 1 | Prime Storage Snellville | ||
3.07 | Property | 1 | Prime Storage Shallotte | ||
3.08 | Property | 1 | Prime Storage Danbury East | ||
3.09 | Property | 1 | Prime Storage Dallas | ||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | ||
3.11 | Property | 1 | Prime Storage Mesa | ||
3.12 | Property | 1 | Prime Storage Warren | ||
3.13 | Property | 1 | Prime Storage Portsmouth | ||
3.14 | Property | 1 | Prime Storage Bolivia | ||
3.15 | Property | 1 | Prime Storage Charlottesville | ||
3.16 | Property | 1 | Prime Storage Clifton | ||
3.17 | Property | 1 | Prime Storage Centereach | ||
3.18 | Property | 1 | Prime Storage Marietta North | ||
3.19 | Property | 1 | Prime Storage Hardeeville | ||
3.20 | Property | 1 | Prime Storage Summerville | ||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | ||
3.22 | Property | 1 | Prime Storage Marietta South | ||
3.23 | Property | 1 | Prime Storage Cartersville | ||
3.24 | Property | 1 | Prime Storage Danbury West | ||
3.25 | Property | 1 | Prime Storage Scarborough | ||
3.26 | Property | 1 | Prime Storage Baltimore | ||
3.27 | Property | 1 | Prime Storage Farmingdale | ||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | ||
3.29 | Property | 1 | Prime Storage Glenville | ||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | ||
3.31 | Property | 1 | Prime Storage Acworth North | ||
3.32 | Property | 1 | Prime Storage Rock Hill | ||
3.33 | Property | 1 | Prime Storage Simpsonville | ||
3.34 | Property | 1 | Prime Storage Acworth East | ||
3.35 | Property | 1 | Prime Storage Saco | ||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | ||
3.37 | Property | 1 | Prime Storage Green Island | ||
3.38 | Property | 1 | Prime Storage North Fort Myers | ||
3.39 | Property | 1 | Prime Storage Marietta | ||
3.40 | Property | 1 | Prime Storage Midland | ||
3.41 | Property | 1 | Prime Storage Lansing | ||
3.42 | Property | 1 | Prime Storage Acworth West | ||
3.43 | Property | 1 | Prime Storage Boardman | ||
3.44 | Property | 1 | Prime Storage North Miami | ||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | ||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Unfunded Obligations Reserve ($2,767,600), Free and Gap Rent Reserve ($466,613), Tenant Improvement Work Reserve ($92,629.92) |
4.01 | Property | 1 | Gilbert Gateway Towne Center | ||
4.02 | Property | 1 | Scottsdale Towne Center | ||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | Condominium Funds |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | NAP |
6.01 | Property | 1 | 2615 East 12th Street | ||
6.02 | Property | 1 | Parkglenn Self-Storage | ||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | ||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | ||
6.05 | Property | 1 | 13404 E Broncos Pkwy | ||
6.06 | Property | 1 | 3803 N Navarro St | ||
6.07 | Property | 1 | 2102 NW Stallings Dr | ||
6.08 | Property | 1 | 2005 W Wheeler Ave | ||
6.09 | Property | 1 | 3817 Gulf Freeway | ||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | ||
6.11 | Property | 1 | 11615 Rubina Pl | ||
6.12 | Property | 1 | 4222 N Main St | ||
6.13 | Property | 1 | 12 Irongate Drive | ||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | Unfunded TI Obligation Reserve ($1,492,127.74); Free Rent Reserve ($783,141.31); Unfunded Leasing Commission Reserve ($332,910.13); Unfunded Landlord Work Reserve ($12,492) |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | NAP |
8.01 | Property | 1 | 521 West 21st Street | ||
8.02 | Property | 1 | 656 East 133rd Street | ||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | Ground Rent Reserve |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | Seasonality Reserve (Upfront: $76,500, Monthly: Springing), PIP Reserve (Monthly: Springing) |
12 | Loan | 56, 57 | 1 | Waterstone Center | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Upfront Leasing Reserve |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | Free Rent Reserve |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Sea Wall Repair Reserve ($25,000,000), Unfunded Obligations Reserve ($14,195,734), Elevator Modernization Reserve ($1,418,585.35) |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | Seasonality Reserve (Upfront: $56,776, Monthly: $14,194), PIP Reserve (Monthly: Springing) |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | NAP |
17.01 | Property | 1 | 2410-2418 Broadway | ||
17.02 | Property | 1 | 245 West 51st Street | ||
17.03 | Property | 1 | 324-326 West 84th Street | ||
17.04 | Property | 1 | 107 West 68th Street | ||
17.05 | Property | 1 | 1443-1447 York Avenue | ||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | PIP Reserve |
19 | Loan | 1 | College Center Abella | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 1126 Convenience Store Inc. Reserve |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | Unfunded Obligations Reserve (Upfront: $50,000), Free Rent Reserve (Upfront: $9,167, Monthly: Springing, Cap: $9,167) |
23.01 | Property | 1 | Stockton | ||
23.02 | Property | 1 | Nostrand | ||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP |
A-16 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Cap ($) | Holdback/ Earnout Amount ($) | Holdback/ Earnout Description | Lockbox Type | Cash Management | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Tenant Specific Excess Cash Trap Trigger (Y/N) | Pari Passu (Y/N) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 1,100,000 | 0 | NAP | Springing | Springing | Yes | No | Yes |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 0 | 0 | NAP | Soft | Springing | Yes | No | Yes |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | |||||||||
3.12 | Property | 1 | Prime Storage Warren | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | |||||||||
3.35 | Property | 1 | Prime Storage Saco | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | |||||||||
3.40 | Property | 1 | Prime Storage Midland | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 0 | 0 | NAP | Hard | Springing | Yes | Yes | Yes |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 0 | 0 | NAP | Soft | Springing | Yes | No | Yes |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 0 | 0 | NAP | Soft | Springing | Yes | No | Yes |
6.01 | Property | 1 | 2615 East 12th Street | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | |||||||||
6.12 | Property | 1 | 4222 N Main St | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 0 | 0 | NAP | Hard | Springing | Yes | No | Yes |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No |
8.01 | Property | 1 | 521 West 21st Street | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 0 | 0 | NAP | Springing | Springing | Yes | No | No |
12 | Loan | 56, 57 | 1 | Waterstone Center | 0 | 0 | NAP | Springing | Springing | Yes | Yes | No |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 0 | 0 | NAP | Hard | Springing | Yes | No | Yes |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 0 | 0 | NAP | Soft | Springing | Yes | No | No |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 0 | 0 | NAP | Hard | Springing | Yes | No | Yes |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 0 | 0 | NAP | Hard | Springing | Yes | No | No |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 0 | 0 | NAP | Soft (Residential); Hard (Commercial) | Springing | Yes | Yes | Yes |
17.01 | Property | 1 | 2410-2418 Broadway | |||||||||
17.02 | Property | 1 | 245 West 51st Street | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | |||||||||
17.04 | Property | 1 | 107 West 68th Street | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 0 | 0 | NAP | Springing | Springing | Yes | No | No |
19 | Loan | 1 | College Center Abella | 0 | 0 | NAP | Springing | Springing | Yes | Yes | No | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 0 | 0 | NAP | Hard | Springing | No | Yes | Yes |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | 0 | 0 | NAP | Soft (Residential); Hard (Commercial) | Springing | Yes | Yes | No |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | 9,167 | 0 | NAP | Springing | Springing | Yes | Yes | No |
23.01 | Property | 1 | Stockton | |||||||||
23.02 | Property | 1 | Nostrand | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | 0 | 0 | NAP | Springing | Springing | Yes | Yes | No |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | 0 | 0 | NAP | Hard | Springing | Yes | Yes | No |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | 0 | 0 | NAP | Springing | Springing | Yes | No | No | |
27 | Loan | 1 | Cityline Safe Storage | 0 | 0 | NAP | Springing | Springing | Yes | No | No | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | 0 | 0 | NAP | Springing | Springing | Yes | No | No |
A-17 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Pari Passu in Trust Controlling (Y/N) | Trust Pari Passu Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Subordinate Companion Loan Cut-off Date Balance ($) | Subordinate Companion Loan Interest Rate | Whole Loan Cut-off Date Balance ($) | Whole Loan Monthly Debt Service ($) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | Yes | 60,500,000 | 10,000,000 | 62,692.13 | 441,979.51 | NAP | NAP | 70,500,000 | 441,979.51 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | Yes | 56,000,000 | 38,000,000 | 237,186.64 | 586,724.83 | NAP | NAP | 94,000,000 | 586,724.83 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | No | 55,000,000 | 350,870,000 | 1,894,332.51 | 2,191,275.22 | 64,130,000 | 6.39000% | 470,000,000 | 2,537,510.42 |
3.01 | Property | 1 | Prime Storage Bridgehampton | ||||||||||
3.02 | Property | 1 | Prime Storage Bohemia | ||||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | ||||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | ||||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | ||||||||||
3.06 | Property | 1 | Prime Storage Snellville | ||||||||||
3.07 | Property | 1 | Prime Storage Shallotte | ||||||||||
3.08 | Property | 1 | Prime Storage Danbury East | ||||||||||
3.09 | Property | 1 | Prime Storage Dallas | ||||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | ||||||||||
3.11 | Property | 1 | Prime Storage Mesa | ||||||||||
3.12 | Property | 1 | Prime Storage Warren | ||||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | ||||||||||
3.14 | Property | 1 | Prime Storage Bolivia | ||||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | ||||||||||
3.16 | Property | 1 | Prime Storage Clifton | ||||||||||
3.17 | Property | 1 | Prime Storage Centereach | ||||||||||
3.18 | Property | 1 | Prime Storage Marietta North | ||||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | ||||||||||
3.20 | Property | 1 | Prime Storage Summerville | ||||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | ||||||||||
3.22 | Property | 1 | Prime Storage Marietta South | ||||||||||
3.23 | Property | 1 | Prime Storage Cartersville | ||||||||||
3.24 | Property | 1 | Prime Storage Danbury West | ||||||||||
3.25 | Property | 1 | Prime Storage Scarborough | ||||||||||
3.26 | Property | 1 | Prime Storage Baltimore | ||||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | ||||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | ||||||||||
3.29 | Property | 1 | Prime Storage Glenville | ||||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | ||||||||||
3.31 | Property | 1 | Prime Storage Acworth North | ||||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | ||||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | ||||||||||
3.34 | Property | 1 | Prime Storage Acworth East | ||||||||||
3.35 | Property | 1 | Prime Storage Saco | ||||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | ||||||||||
3.37 | Property | 1 | Prime Storage Green Island | ||||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | ||||||||||
3.39 | Property | 1 | Prime Storage Marietta | ||||||||||
3.40 | Property | 1 | Prime Storage Midland | ||||||||||
3.41 | Property | 1 | Prime Storage Lansing | ||||||||||
3.42 | Property | 1 | Prime Storage Acworth West | ||||||||||
3.43 | Property | 1 | Prime Storage Boardman | ||||||||||
3.44 | Property | 1 | Prime Storage North Miami | ||||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | ||||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Yes | 51,000,000 | 30,000,000 | 198,975.70 | 537,234.38 | NAP | NAP | 81,000,000 | 537,234.38 |
4.01 | Property | 1 | Gilbert Gateway Towne Center | ||||||||||
4.02 | Property | 1 | Scottsdale Towne Center | ||||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | No | 50,000,000 | 165,000,000 | 1,213,561.63 | 1,581,307.58 | NAP | NAP | 215,000,000 | 1,581,307.58 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | Yes | 43,750,000 | 41,250,000 | 245,012.59 | 504,874.42 | NAP | NAP | 85,000,000 | 504,874.42 |
6.01 | Property | 1 | 2615 East 12th Street | ||||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | ||||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | ||||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | ||||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | ||||||||||
6.06 | Property | 1 | 3803 N Navarro St | ||||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | ||||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | ||||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | ||||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | ||||||||||
6.11 | Property | 1 | 11615 Rubina Pl | ||||||||||
6.12 | Property | 1 | 4222 N Main St | ||||||||||
6.13 | Property | 1 | 12 Irongate Drive | ||||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | No | 35,000,000 | 45,000,000 | 304,630.52 | 541,565.37 | NAP | NAP | 80,000,000 | 541,565.37 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8.01 | Property | 1 | 521 West 21st Street | ||||||||||
8.02 | Property | 1 | 656 East 133rd Street | ||||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | No | 20,833,333 | 199,166,667 | 1,310,460.19 | 1,447,537.62 | NAP | NAP | 220,000,000 | 1,447,537.62 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | No | 17,500,000 | 207,500,000 | 1,023,858.79 | 1,110,208.33 | NAP | NAP | 225,000,000 | 1,110,208.33 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | No | 13,000,000 | 41,000,000 | 145,064.53 | 191,060.60 | NAP | NAP | 54,000,000 | 191,060.60 |
17.01 | Property | 1 | 2410-2418 Broadway | ||||||||||
17.02 | Property | 1 | 245 West 51st Street | ||||||||||
17.03 | Property | 1 | 324-326 West 84th Street | ||||||||||
17.04 | Property | 1 | 107 West 68th Street | ||||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | ||||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | No | 9,800,000 | 75,000,000 | 413,983.51 | 468,077.35 | NAP | NAP | 84,800,000 | 468,077.35 |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23.01 | Property | 1 | Stockton | ||||||||||
23.02 | Property | 1 | Nostrand | ||||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-18 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Whole Loan Cut-off Date LTV Ratio (%) | Whole Loan Underwritten NCF DSCR (x) | Whole Loan Underwritten NOI Debt Yield (%) | Mezzanine Debt Cut-off Date Balance($) | Mezzanine Debt Interest Rate (%) | Total Debt Cut-off Date Balance ($) | Total Debt Monthly Debt Service ($) | Total Debt Cut-off Date LTV Ratio (%) | Total Debt Underwritten NCF DSCR (x) | Total Debt Underwritten NOI Debt Yield (%) |
4 | 4 | |||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 32.6% | 2.38 | 20.5% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 62.4% | 1.39 | 10.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 59.4% | 1.44 | 9.5% | 120,000,000 | 9.87500% | 590,000,000 | 3,538,725.70 | 74.6% | 1.03 | 7.5% |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||||||||||
3.02 | Property | 1 | Prime Storage Bohemia | |||||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||||||||||
3.06 | Property | 1 | Prime Storage Snellville | |||||||||||
3.07 | Property | 1 | Prime Storage Shallotte | |||||||||||
3.08 | Property | 1 | Prime Storage Danbury East | |||||||||||
3.09 | Property | 1 | Prime Storage Dallas | |||||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||||||||||
3.11 | Property | 1 | Prime Storage Mesa | |||||||||||
3.12 | Property | 1 | Prime Storage Warren | |||||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | |||||||||||
3.14 | Property | 1 | Prime Storage Bolivia | |||||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | |||||||||||
3.16 | Property | 1 | Prime Storage Clifton | |||||||||||
3.17 | Property | 1 | Prime Storage Centereach | |||||||||||
3.18 | Property | 1 | Prime Storage Marietta North | |||||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | |||||||||||
3.20 | Property | 1 | Prime Storage Summerville | |||||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||||||||||
3.22 | Property | 1 | Prime Storage Marietta South | |||||||||||
3.23 | Property | 1 | Prime Storage Cartersville | |||||||||||
3.24 | Property | 1 | Prime Storage Danbury West | |||||||||||
3.25 | Property | 1 | Prime Storage Scarborough | |||||||||||
3.26 | Property | 1 | Prime Storage Baltimore | |||||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | |||||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||||||||||
3.29 | Property | 1 | Prime Storage Glenville | |||||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||||||||||
3.31 | Property | 1 | Prime Storage Acworth North | |||||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | |||||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | |||||||||||
3.34 | Property | 1 | Prime Storage Acworth East | |||||||||||
3.35 | Property | 1 | Prime Storage Saco | |||||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||||||||||
3.37 | Property | 1 | Prime Storage Green Island | |||||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||||||||||
3.39 | Property | 1 | Prime Storage Marietta | |||||||||||
3.40 | Property | 1 | Prime Storage Midland | |||||||||||
3.41 | Property | 1 | Prime Storage Lansing | |||||||||||
3.42 | Property | 1 | Prime Storage Acworth West | |||||||||||
3.43 | Property | 1 | Prime Storage Boardman | |||||||||||
3.44 | Property | 1 | Prime Storage North Miami | |||||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 56.5% | 1.30 | 10.8% | 7,000,000 | 13.00000% | 88,000,000 | 614,120.95 | 61.3% | 1.14 | 9.9% |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||||||||||
4.02 | Property | 1 | Scottsdale Towne Center | |||||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 54.9% | 1.53 | 16.0% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 59.9% | 1.20 | 8.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6.01 | Property | 1 | 2615 East 12th Street | |||||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | |||||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||||||||||
6.06 | Property | 1 | 3803 N Navarro St | |||||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | |||||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||||||||||
6.11 | Property | 1 | 11615 Rubina Pl | |||||||||||
6.12 | Property | 1 | 4222 N Main St | |||||||||||
6.13 | Property | 1 | 12 Irongate Drive | |||||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 33.0% | 2.39 | 20.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8.01 | Property | 1 | 521 West 21st Street | |||||||||||
8.02 | Property | 1 | 656 East 133rd Street | |||||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 51.4% | 1.68 | 14.7% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 56.8% | 2.36 | 14.7% | 55,000,000 | 10.50000% | 280,000,000 | 1,598,142.36 | 70.7% | 1.64 | 11.8% |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | 39.2% | 2.87 | 12.3% | 41,000,000 | 9.19800% | 95,000,000 | 509,690.39 | 69.0% | 1.08 | 7.0% |
17.01 | Property | 1 | 2410-2418 Broadway | |||||||||||
17.02 | Property | 1 | 245 West 51st Street | |||||||||||
17.03 | Property | 1 | 324-326 West 84th Street | |||||||||||
17.04 | Property | 1 | 107 West 68th Street | |||||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | |||||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
19 | Loan | 1 | College Center Abella | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | 39.4% | 2.37 | 15.8% | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23.01 | Property | 1 | Stockton | |||||||||||
23.02 | Property | 1 | Nostrand | |||||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-19 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Future Additional Debt Permitted (Y/N) | Future Debt Permitted Type |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | No | NAP |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | No | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | No | NAP |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||
3.02 | Property | 1 | Prime Storage Bohemia | |||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||
3.06 | Property | 1 | Prime Storage Snellville | |||
3.07 | Property | 1 | Prime Storage Shallotte | |||
3.08 | Property | 1 | Prime Storage Danbury East | |||
3.09 | Property | 1 | Prime Storage Dallas | |||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||
3.11 | Property | 1 | Prime Storage Mesa | |||
3.12 | Property | 1 | Prime Storage Warren | |||
3.13 | Property | 1 | Prime Storage Portsmouth | |||
3.14 | Property | 1 | Prime Storage Bolivia | |||
3.15 | Property | 1 | Prime Storage Charlottesville | |||
3.16 | Property | 1 | Prime Storage Clifton | |||
3.17 | Property | 1 | Prime Storage Centereach | |||
3.18 | Property | 1 | Prime Storage Marietta North | |||
3.19 | Property | 1 | Prime Storage Hardeeville | |||
3.20 | Property | 1 | Prime Storage Summerville | |||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||
3.22 | Property | 1 | Prime Storage Marietta South | |||
3.23 | Property | 1 | Prime Storage Cartersville | |||
3.24 | Property | 1 | Prime Storage Danbury West | |||
3.25 | Property | 1 | Prime Storage Scarborough | |||
3.26 | Property | 1 | Prime Storage Baltimore | |||
3.27 | Property | 1 | Prime Storage Farmingdale | |||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||
3.29 | Property | 1 | Prime Storage Glenville | |||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||
3.31 | Property | 1 | Prime Storage Acworth North | |||
3.32 | Property | 1 | Prime Storage Rock Hill | |||
3.33 | Property | 1 | Prime Storage Simpsonville | |||
3.34 | Property | 1 | Prime Storage Acworth East | |||
3.35 | Property | 1 | Prime Storage Saco | |||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||
3.37 | Property | 1 | Prime Storage Green Island | |||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||
3.39 | Property | 1 | Prime Storage Marietta | |||
3.40 | Property | 1 | Prime Storage Midland | |||
3.41 | Property | 1 | Prime Storage Lansing | |||
3.42 | Property | 1 | Prime Storage Acworth West | |||
3.43 | Property | 1 | Prime Storage Boardman | |||
3.44 | Property | 1 | Prime Storage North Miami | |||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | No | NAP |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||
4.02 | Property | 1 | Scottsdale Towne Center | |||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | Yes | Mezzanine (Max Combined LTV of 54.9%; Min Combined Debt Yield of 13.2%; Min Combined DSCR of 1.50x; Intercreditor Agreement is required) |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | No | NAP |
6.01 | Property | 1 | 2615 East 12th Street | |||
6.02 | Property | 1 | Parkglenn Self-Storage | |||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||
6.06 | Property | 1 | 3803 N Navarro St | |||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||
6.09 | Property | 1 | 3817 Gulf Freeway | |||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||
6.11 | Property | 1 | 11615 Rubina Pl | |||
6.12 | Property | 1 | 4222 N Main St | |||
6.13 | Property | 1 | 12 Irongate Drive | |||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | No | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | No | NAP |
8.01 | Property | 1 | 521 West 21st Street | |||
8.02 | Property | 1 | 656 East 133rd Street | |||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | No | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | No | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | No | NAP |
12 | Loan | 56, 57 | 1 | Waterstone Center | No | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | No | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | No | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Yes | Mezzanine only permitted in connection with the assumption of the Mortgage Loan and simultaneous repayment of the Mezzanine Loan (Max Combined LTV of 75.0%; Min Combined DSCR of 1.25x; Min Mortgage DSCR of 1.81x; Intercreditor Agreement is required) |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | No | NAP |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | No | NAP |
17.01 | Property | 1 | 2410-2418 Broadway | |||
17.02 | Property | 1 | 245 West 51st Street | |||
17.03 | Property | 1 | 324-326 West 84th Street | |||
17.04 | Property | 1 | 107 West 68th Street | |||
17.05 | Property | 1 | 1443-1447 York Avenue | |||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | No | NAP |
19 | Loan | 1 | College Center Abella | No | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | No | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | No | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | No | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | No | NAP |
23.01 | Property | 1 | Stockton | |||
23.02 | Property | 1 | Nostrand | |||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | No | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | No | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | No | NAP | |
27 | Loan | 1 | Cityline Safe Storage | No | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | No | NAP |
A-20 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sponsor | Non-Recourse Carveout Guarantor |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | Warwick Amusements Corporation | Warwick Amusements Corporation |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | John Kukral or Michael Profenius | Northwood Real Estate Partners LP, Northwood Real Estate Partners TE LP, Northwood Employees LP, Northwood Real Estate Co-Investors LP, Northwood Employees Co-Invest LP and Northwood Real Estate Co-Investors TE LP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | Robert J. Moser | Prime Storage Fund II, LP, Prime Storage Fund II (Cayman), LP, Prime Storage Fund II IDF, LP and Robert Moser |
3.01 | Property | 1 | Prime Storage Bridgehampton | |||
3.02 | Property | 1 | Prime Storage Bohemia | |||
3.03 | Property | 1 | Prime Storage Westhampton Beach | |||
3.04 | Property | 1 | Prime Storage Queens Jamaica | |||
3.05 | Property | 1 | Prime Storage West Palm Beach | |||
3.06 | Property | 1 | Prime Storage Snellville | |||
3.07 | Property | 1 | Prime Storage Shallotte | |||
3.08 | Property | 1 | Prime Storage Danbury East | |||
3.09 | Property | 1 | Prime Storage Dallas | |||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | |||
3.11 | Property | 1 | Prime Storage Mesa | |||
3.12 | Property | 1 | Prime Storage Warren | |||
3.13 | Property | 1 | Prime Storage Portsmouth | |||
3.14 | Property | 1 | Prime Storage Bolivia | |||
3.15 | Property | 1 | Prime Storage Charlottesville | |||
3.16 | Property | 1 | Prime Storage Clifton | |||
3.17 | Property | 1 | Prime Storage Centereach | |||
3.18 | Property | 1 | Prime Storage Marietta North | |||
3.19 | Property | 1 | Prime Storage Hardeeville | |||
3.20 | Property | 1 | Prime Storage Summerville | |||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | |||
3.22 | Property | 1 | Prime Storage Marietta South | |||
3.23 | Property | 1 | Prime Storage Cartersville | |||
3.24 | Property | 1 | Prime Storage Danbury West | |||
3.25 | Property | 1 | Prime Storage Scarborough | |||
3.26 | Property | 1 | Prime Storage Baltimore | |||
3.27 | Property | 1 | Prime Storage Farmingdale | |||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | |||
3.29 | Property | 1 | Prime Storage Glenville | |||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | |||
3.31 | Property | 1 | Prime Storage Acworth North | |||
3.32 | Property | 1 | Prime Storage Rock Hill | |||
3.33 | Property | 1 | Prime Storage Simpsonville | |||
3.34 | Property | 1 | Prime Storage Acworth East | |||
3.35 | Property | 1 | Prime Storage Saco | |||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | |||
3.37 | Property | 1 | Prime Storage Green Island | |||
3.38 | Property | 1 | Prime Storage North Fort Myers | |||
3.39 | Property | 1 | Prime Storage Marietta | |||
3.40 | Property | 1 | Prime Storage Midland | |||
3.41 | Property | 1 | Prime Storage Lansing | |||
3.42 | Property | 1 | Prime Storage Acworth West | |||
3.43 | Property | 1 | Prime Storage Boardman | |||
3.44 | Property | 1 | Prime Storage North Miami | |||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | |||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | Karim Kanjiyani, Saleem Kanjiyani and Yasmin Daredia | Karim Kanjiyani, Saleem Kanjiyani and Yasmin Daredia |
4.01 | Property | 1 | Gilbert Gateway Towne Center | |||
4.02 | Property | 1 | Scottsdale Towne Center | |||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | Oaktree Capital Management, LLC, Clearview Hotel Capital, LLC, and Host LP | Oaktree Real Estate Opportunities Fund VI, L.P. |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | Centerbridge Partners Real Estate Fund, L.P. and CCP III AIV III, L.P. | Merit Hill Holdings REIT LLC and Merit Hill Holdings REIT II LLC |
6.01 | Property | 1 | 2615 East 12th Street | |||
6.02 | Property | 1 | Parkglenn Self-Storage | |||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | |||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | |||
6.05 | Property | 1 | 13404 E Broncos Pkwy | |||
6.06 | Property | 1 | 3803 N Navarro St | |||
6.07 | Property | 1 | 2102 NW Stallings Dr | |||
6.08 | Property | 1 | 2005 W Wheeler Ave | |||
6.09 | Property | 1 | 3817 Gulf Freeway | |||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | |||
6.11 | Property | 1 | 11615 Rubina Pl | |||
6.12 | Property | 1 | 4222 N Main St | |||
6.13 | Property | 1 | 12 Irongate Drive | |||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | BCP LMP Harrison Equity LLC | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | Guy Roberts | Guy Roberts |
8.01 | Property | 1 | 521 West 21st Street | |||
8.02 | Property | 1 | 656 East 133rd Street | |||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | David Luski, Adam Breen, Jean Marie Apruzzese and/or David Gray | DRA Growth and Income Master Fund X, LLC |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | The Related Companies, L.P. | The Related Companies, L.P. |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | Doyle A. Graham, Jr. | Doyle A. Graham, Jr. |
12 | Loan | 56, 57 | 1 | Waterstone Center | Midland Olympus Income Plus Fund, LLC and Next Realty Fund X, LP | John I. Silverman and Next Realty Fund X, LP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | Brandywine Operating Partnership, L.P. | Brandywine Operating Partnership, L.P. |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | ORYX Holding | Hamad Alhomaizi |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | Mark Karasick and Michael Silberberg | Mark Karasick and Michael Silberberg |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | Neel Desai and Aby Galsky | Neel Desai and Aby Galsky |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | Robert Gilardian and Albert Gilardian | Robert Gilardian and Albert Gilardian |
17.01 | Property | 1 | 2410-2418 Broadway | |||
17.02 | Property | 1 | 245 West 51st Street | |||
17.03 | Property | 1 | 324-326 West 84th Street | |||
17.04 | Property | 1 | 107 West 68th Street | |||
17.05 | Property | 1 | 1443-1447 York Avenue | |||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | Munira Kapadia and Faysal Kapadia | Munira Kapadia and Faysal Kapadia |
19 | Loan | 1 | College Center Abella | Bruce Goren and Todd Okum | Bruce Goren and Todd Okum | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | GI Partners ETS Fund LP | GI Partners ETS Fund LP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | EKN Development Group | Ebrahim K. Nakhjavani |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | Son Dinh Tran | Son Dinh Tran |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | Cheskel Brach and Mendel Fleischman | Cheskel Brach and Mendel Fleischman |
23.01 | Property | 1 | Stockton | |||
23.02 | Property | 1 | Nostrand | |||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | The Pecora Family Dynasty Trust dated September 12, 2013 | The Pecora Family Dynasty Trust dated September 12, 2013 |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | Lake Creek Investment Holdings, LLC | Lake Creek Investment Holdings, LLC |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri | |
27 | Loan | 1 | Cityline Safe Storage | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri | George Thacker, Lawrence Charles Kaplan, Richard Schontz and Peter Veltri |
A-21 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Delaware Statutory Trust (Y/N) | Tenants-in-common (Y/N) | Loan Purpose | Property Located Within a Qualified Opportunity Zone (Y/N) | Sources: Loan Amount ($) | Sources: Principal's New Cash Contribution ($) | Sources: Subordinate Debt ($) | Sources: Other Sources ($) | Sources: Total Sources ($) |
7 | 8 | ||||||||||||
1 | Loan | 9, 10, 11 | 1 | Warwick New York | No | No | Refinance | No | 70,500,000 | 2,562,862 | 0 | 0 | 73,062,862 |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | No | No | Refinance | No | 94,000,000 | 0 | 0 | 0 | 94,000,000 |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | No | No | Recapitalization | 405,870,000 | 0 | 184,130,000 | 2,639,174 | 592,639,174 | |
3.01 | Property | 1 | Prime Storage Bridgehampton | No | |||||||||
3.02 | Property | 1 | Prime Storage Bohemia | No | |||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | No | |||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | Yes | |||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | No | |||||||||
3.06 | Property | 1 | Prime Storage Snellville | No | |||||||||
3.07 | Property | 1 | Prime Storage Shallotte | No | |||||||||
3.08 | Property | 1 | Prime Storage Danbury East | No | |||||||||
3.09 | Property | 1 | Prime Storage Dallas | No | |||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | No | |||||||||
3.11 | Property | 1 | Prime Storage Mesa | No | |||||||||
3.12 | Property | 1 | Prime Storage Warren | No | |||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | No | |||||||||
3.14 | Property | 1 | Prime Storage Bolivia | No | |||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | No | |||||||||
3.16 | Property | 1 | Prime Storage Clifton | No | |||||||||
3.17 | Property | 1 | Prime Storage Centereach | No | |||||||||
3.18 | Property | 1 | Prime Storage Marietta North | No | |||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | Yes | |||||||||
3.20 | Property | 1 | Prime Storage Summerville | No | |||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | No | |||||||||
3.22 | Property | 1 | Prime Storage Marietta South | No | |||||||||
3.23 | Property | 1 | Prime Storage Cartersville | No | |||||||||
3.24 | Property | 1 | Prime Storage Danbury West | No | |||||||||
3.25 | Property | 1 | Prime Storage Scarborough | No | |||||||||
3.26 | Property | 1 | Prime Storage Baltimore | No | |||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | No | |||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | No | |||||||||
3.29 | Property | 1 | Prime Storage Glenville | No | |||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | No | |||||||||
3.31 | Property | 1 | Prime Storage Acworth North | No | |||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | No | |||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | No | |||||||||
3.34 | Property | 1 | Prime Storage Acworth East | No | |||||||||
3.35 | Property | 1 | Prime Storage Saco | Yes | |||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | No | |||||||||
3.37 | Property | 1 | Prime Storage Green Island | No | |||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | No | |||||||||
3.39 | Property | 1 | Prime Storage Marietta | No | |||||||||
3.40 | Property | 1 | Prime Storage Midland | No | |||||||||
3.41 | Property | 1 | Prime Storage Lansing | No | |||||||||
3.42 | Property | 1 | Prime Storage Acworth West | No | |||||||||
3.43 | Property | 1 | Prime Storage Boardman | No | |||||||||
3.44 | Property | 1 | Prime Storage North Miami | Yes | |||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | No | |||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | No | No | Refinance | 81,000,000 | 0 | 7,000,000 | 0 | 88,000,000 | |
4.01 | Property | 1 | Gilbert Gateway Towne Center | No | |||||||||
4.02 | Property | 1 | Scottsdale Towne Center | No | |||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | No | No | Refinance | No | 215,000,000 | 24,286,718 | 0 | 0 | 239,286,718 |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | No | No | Refinance | 85,000,000 | 0 | 0 | 0 | 85,000,000 | |
6.01 | Property | 1 | 2615 East 12th Street | No | |||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | No | |||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | No | |||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | No | |||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | No | |||||||||
6.06 | Property | 1 | 3803 N Navarro St | No | |||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | No | |||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | No | |||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | No | |||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | No | |||||||||
6.11 | Property | 1 | 11615 Rubina Pl | No | |||||||||
6.12 | Property | 1 | 4222 N Main St | No | |||||||||
6.13 | Property | 1 | 12 Irongate Drive | No | |||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | No | No | Recapitalization | No | 80,000,000 | 0 | 0 | 0 | 80,000,000 |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | No | No | Refinance | 31,000,000 | 0 | 0 | 0 | 31,000,000 | |
8.01 | Property | 1 | 521 West 21st Street | No | |||||||||
8.02 | Property | 1 | 656 East 133rd Street | No | |||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | No | No | Acquisition | No | 24,950,000 | 15,891,753 | 0 | 0 | 40,841,753 |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | No | No | Refinance | No | 21,000,000 | 6,649,534 | 0 | 0 | 27,649,534 |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | No | No | Refinance | No | 21,000,000 | 0 | 0 | 0 | 21,000,000 |
12 | Loan | 56, 57 | 1 | Waterstone Center | No | No | Acquisition | No | 20,887,900 | 11,932,351 | 0 | 0 | 32,820,251 |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | No | No | Refinance | No | 220,000,000 | 24,825,039 | 0 | 0 | 244,825,039 |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | No | No | Acquisition | No | 17,680,000 | 11,537,038 | 0 | 0 | 29,217,038 |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | No | Yes | Acquisition | No | 225,000,000 | 119,820,041 | 74,000,000 | 49,633,468 | 468,453,509 |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | No | No | Refinance | No | |||||
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | No | No | Refinance | ||||||
17.01 | Property | 1 | 2410-2418 Broadway | No | |||||||||
17.02 | Property | 1 | 245 West 51st Street | No | |||||||||
17.03 | Property | 1 | 324-326 West 84th Street | No | |||||||||
17.04 | Property | 1 | 107 West 68th Street | No | |||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | No | |||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | No | No | Acquisition | No | |||||
19 | Loan | 1 | College Center Abella | No | No | Refinance | No | ||||||
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | No | No | Acquisition | No | |||||
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | No | No | Refinance | No | |||||
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | No | No | Refinance | No | |||||
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | No | No | Refinance | ||||||
23.01 | Property | 1 | Stockton | No | |||||||||
23.02 | Property | 1 | Nostrand | No | |||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | No | Yes | Refinance | No | |||||
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | No | Yes | Refinance | No | |||||
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | No | No | Acquisition | No | ||||||
27 | Loan | 1 | Cityline Safe Storage | No | No | Acquisition | No | ||||||
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | No | No | Acquisition | No |
A-22 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Uses: Loan Payoff ($) | Uses: Purchase Price ($) | Uses: Closing Costs ($) | Uses: Reserves ($) | Uses: Principal Equity Distribution ($) | Uses: Other Uses ($) | Uses: Total Uses ($) | Franchise Agreement Expiration | Underwritten ADR ($) | Underwritten RevPAR ($) | Underwritten Hotel Occupancy (%) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 69,873,086 | 0 | 731,201 | 2,458,574 | 0 | 0 | 73,062,862 | NAP | 307.41 | 266.20 | 86.6% |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | 70,399,685 | 0 | 5,166,611 | 0 | 18,433,705 | 0 | 94,000,000 | NAP | NAP | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | 574,972,692 | 0 | 15,680,899 | 1,916,292 | 69,291 | 0 | 592,639,174 | NAP | NAP | NAP | NAP |
3.01 | Property | 1 | Prime Storage Bridgehampton | NAP | NAP | NAP | NAP | ||||||||
3.02 | Property | 1 | Prime Storage Bohemia | NAP | NAP | NAP | NAP | ||||||||
3.03 | Property | 1 | Prime Storage Westhampton Beach | NAP | NAP | NAP | NAP | ||||||||
3.04 | Property | 1 | Prime Storage Queens Jamaica | NAP | NAP | NAP | NAP | ||||||||
3.05 | Property | 1 | Prime Storage West Palm Beach | NAP | NAP | NAP | NAP | ||||||||
3.06 | Property | 1 | Prime Storage Snellville | NAP | NAP | NAP | NAP | ||||||||
3.07 | Property | 1 | Prime Storage Shallotte | NAP | NAP | NAP | NAP | ||||||||
3.08 | Property | 1 | Prime Storage Danbury East | NAP | NAP | NAP | NAP | ||||||||
3.09 | Property | 1 | Prime Storage Dallas | NAP | NAP | NAP | NAP | ||||||||
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | NAP | NAP | NAP | NAP | ||||||||
3.11 | Property | 1 | Prime Storage Mesa | NAP | NAP | NAP | NAP | ||||||||
3.12 | Property | 1 | Prime Storage Warren | NAP | NAP | NAP | NAP | ||||||||
3.13 | Property | 1 | Prime Storage Portsmouth | NAP | NAP | NAP | NAP | ||||||||
3.14 | Property | 1 | Prime Storage Bolivia | NAP | NAP | NAP | NAP | ||||||||
3.15 | Property | 1 | Prime Storage Charlottesville | NAP | NAP | NAP | NAP | ||||||||
3.16 | Property | 1 | Prime Storage Clifton | NAP | NAP | NAP | NAP | ||||||||
3.17 | Property | 1 | Prime Storage Centereach | NAP | NAP | NAP | NAP | ||||||||
3.18 | Property | 1 | Prime Storage Marietta North | NAP | NAP | NAP | NAP | ||||||||
3.19 | Property | 1 | Prime Storage Hardeeville | NAP | NAP | NAP | NAP | ||||||||
3.20 | Property | 1 | Prime Storage Summerville | NAP | NAP | NAP | NAP | ||||||||
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | NAP | NAP | NAP | NAP | ||||||||
3.22 | Property | 1 | Prime Storage Marietta South | NAP | NAP | NAP | NAP | ||||||||
3.23 | Property | 1 | Prime Storage Cartersville | NAP | NAP | NAP | NAP | ||||||||
3.24 | Property | 1 | Prime Storage Danbury West | NAP | NAP | NAP | NAP | ||||||||
3.25 | Property | 1 | Prime Storage Scarborough | NAP | NAP | NAP | NAP | ||||||||
3.26 | Property | 1 | Prime Storage Baltimore | NAP | NAP | NAP | NAP | ||||||||
3.27 | Property | 1 | Prime Storage Farmingdale | NAP | NAP | NAP | NAP | ||||||||
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | NAP | NAP | NAP | NAP | ||||||||
3.29 | Property | 1 | Prime Storage Glenville | NAP | NAP | NAP | NAP | ||||||||
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | NAP | NAP | NAP | NAP | ||||||||
3.31 | Property | 1 | Prime Storage Acworth North | NAP | NAP | NAP | NAP | ||||||||
3.32 | Property | 1 | Prime Storage Rock Hill | NAP | NAP | NAP | NAP | ||||||||
3.33 | Property | 1 | Prime Storage Simpsonville | NAP | NAP | NAP | NAP | ||||||||
3.34 | Property | 1 | Prime Storage Acworth East | NAP | NAP | NAP | NAP | ||||||||
3.35 | Property | 1 | Prime Storage Saco | NAP | NAP | NAP | NAP | ||||||||
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | NAP | NAP | NAP | NAP | ||||||||
3.37 | Property | 1 | Prime Storage Green Island | NAP | NAP | NAP | NAP | ||||||||
3.38 | Property | 1 | Prime Storage North Fort Myers | NAP | NAP | NAP | NAP | ||||||||
3.39 | Property | 1 | Prime Storage Marietta | NAP | NAP | NAP | NAP | ||||||||
3.40 | Property | 1 | Prime Storage Midland | NAP | NAP | NAP | NAP | ||||||||
3.41 | Property | 1 | Prime Storage Lansing | NAP | NAP | NAP | NAP | ||||||||
3.42 | Property | 1 | Prime Storage Acworth West | NAP | NAP | NAP | NAP | ||||||||
3.43 | Property | 1 | Prime Storage Boardman | NAP | NAP | NAP | NAP | ||||||||
3.44 | Property | 1 | Prime Storage North Miami | NAP | NAP | NAP | NAP | ||||||||
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | NAP | NAP | NAP | NAP | ||||||||
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | 56,431,784 | 0 | 3,403,794 | 4,896,572 | 23,267,850 | 0 | 88,000,000 | NAP | NAP | NAP | NAP |
4.01 | Property | 1 | Gilbert Gateway Towne Center | NAP | NAP | NAP | NAP | ||||||||
4.02 | Property | 1 | Scottsdale Towne Center | NAP | NAP | NAP | NAP | ||||||||
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 237,270,647 | 0 | 2,016,071 | 0 | 0 | 0 | 239,286,718 | NAP | 233.09 | 140.33 | 60.2% |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | 67,545,410 | 0 | 4,733,993 | 61,270 | 12,659,327 | 0 | 85,000,000 | NAP | NAP | NAP | NAP |
6.01 | Property | 1 | 2615 East 12th Street | NAP | NAP | NAP | NAP | ||||||||
6.02 | Property | 1 | Parkglenn Self-Storage | NAP | NAP | NAP | NAP | ||||||||
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | NAP | NAP | NAP | NAP | ||||||||
6.04 | Property | 1 | 30690 Aldine Westfield Rd | NAP | NAP | NAP | NAP | ||||||||
6.05 | Property | 1 | 13404 E Broncos Pkwy | NAP | NAP | NAP | NAP | ||||||||
6.06 | Property | 1 | 3803 N Navarro St | NAP | NAP | NAP | NAP | ||||||||
6.07 | Property | 1 | 2102 NW Stallings Dr | NAP | NAP | NAP | NAP | ||||||||
6.08 | Property | 1 | 2005 W Wheeler Ave | NAP | NAP | NAP | NAP | ||||||||
6.09 | Property | 1 | 3817 Gulf Freeway | NAP | NAP | NAP | NAP | ||||||||
6.10 | Property | 1 | 1600 E General Cavazos Blvd | NAP | NAP | NAP | NAP | ||||||||
6.11 | Property | 1 | 11615 Rubina Pl | NAP | NAP | NAP | NAP | ||||||||
6.12 | Property | 1 | 4222 N Main St | NAP | NAP | NAP | NAP | ||||||||
6.13 | Property | 1 | 12 Irongate Drive | NAP | NAP | NAP | NAP | ||||||||
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | 0 | 0 | 1,357,314 | 9,709,535 | 68,933,151 | 0 | 80,000,000 | NAP | NAP | NAP | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | 20,085,143 | 0 | 2,243,232 | 971,288 | 7,700,337 | 0 | 31,000,000 | NAP | NAP | NAP | NAP |
8.01 | Property | 1 | 521 West 21st Street | NAP | NAP | NAP | NAP | ||||||||
8.02 | Property | 1 | 656 East 133rd Street | NAP | NAP | NAP | NAP | ||||||||
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | 0 | 38,000,000 | 2,174,553 | 667,201 | 0 | 0 | 40,841,753 | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | 27,110,863 | 0 | 538,672 | 0 | 0 | 0 | 27,649,534 | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 15,646,728 | 0 | 1,040,170 | 319,371 | 3,993,732 | 0 | 21,000,000 | NAP | 176.21 | 106.24 | 60.3% |
12 | Loan | 56, 57 | 1 | Waterstone Center | 0 | 30,717,500 | 1,602,751 | 500,000 | 0 | 0 | 32,820,251 | NAP | NAP | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | 204,600,430 | 0 | 4,111,705 | 36,112,904 | 0 | 0 | 244,825,039 | NAP | NAP | NAP | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | 0 | 27,200,000 | 1,885,308 | 131,731 | 0 | 0 | 29,217,038 | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | 0 | 377,000,000 | 26,869,593 | 64,583,916 | 0 | 0 | 468,453,509 | NAP | NAP | NAP | NAP |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 8/31/2033 | 150.65 | 109.14 | 72.5% | |||||||
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | NAP | NAP | NAP | NAP | |||||||
17.01 | Property | 1 | 2410-2418 Broadway | NAP | NAP | NAP | NAP | ||||||||
17.02 | Property | 1 | 245 West 51st Street | NAP | NAP | NAP | NAP | ||||||||
17.03 | Property | 1 | 324-326 West 84th Street | NAP | NAP | NAP | NAP | ||||||||
17.04 | Property | 1 | 107 West 68th Street | NAP | NAP | NAP | NAP | ||||||||
17.05 | Property | 1 | 1443-1447 York Avenue | NAP | NAP | NAP | NAP | ||||||||
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 9/30/2038 | 123.81 | 88.10 | 71.2% | |||||||
19 | Loan | 1 | College Center Abella | NAP | NAP | NAP | NAP | ||||||||
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP | NAP | NAP | NAP | |||||||
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP | NAP | NAP | NAP | |||||||
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | NAP | NAP | NAP | |||||||
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAP | NAP | NAP | NAP | |||||||
23.01 | Property | 1 | Stockton | NAP | NAP | NAP | NAP | ||||||||
23.02 | Property | 1 | Nostrand | NAP | NAP | NAP | NAP | ||||||||
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | NAP | NAP | NAP | |||||||
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | |||||||
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | ||||||||
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | ||||||||
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP |
A-23 |
BENCHMARK 2023-V4
Annex A
Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Most Recent ADR ($) | Most Recent RevPAR ($) | Most Recent Hotel Occupancy (%) | Second Most Recent ADR ($) | Second Most Recent RevPAR ($) | Second Most Recent Hotel Occupancy (%) | Third Most Recent ADR ($) | Third Most Recent RevPAR ($) | Third Most Recent Hotel Occupancy (%) |
1 | Loan | 9, 10, 11 | 1 | Warwick New York | 307.41 | 266.20 | 86.6% | 284.93 | 242.82 | 85.2% | 191.85 | 131.89 | 68.7% |
2 | Loan | 9, 12, 13, 14, 15 | 1 | Overlook at Ballantyne | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
3 | Loan | 9, 16, 17, 18, 19 | 45 | Prime Storage Portfolio #3 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
3.01 | Property | 1 | Prime Storage Bridgehampton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.02 | Property | 1 | Prime Storage Bohemia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.03 | Property | 1 | Prime Storage Westhampton Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.04 | Property | 1 | Prime Storage Queens Jamaica | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.05 | Property | 1 | Prime Storage West Palm Beach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.06 | Property | 1 | Prime Storage Snellville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.07 | Property | 1 | Prime Storage Shallotte | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.08 | Property | 1 | Prime Storage Danbury East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.09 | Property | 1 | Prime Storage Dallas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.10 | Property | 1 | Prime Storage Bay Shore Pine Aire Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.11 | Property | 1 | Prime Storage Mesa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.12 | Property | 1 | Prime Storage Warren | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.13 | Property | 1 | Prime Storage Portsmouth | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.14 | Property | 1 | Prime Storage Bolivia | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.15 | Property | 1 | Prime Storage Charlottesville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.16 | Property | 1 | Prime Storage Clifton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.17 | Property | 1 | Prime Storage Centereach | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.18 | Property | 1 | Prime Storage Marietta North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.19 | Property | 1 | Prime Storage Hardeeville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.20 | Property | 1 | Prime Storage Summerville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.21 | Property | 1 | Prime Storage Virginia Beach Lynnhaven Pkwy. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.22 | Property | 1 | Prime Storage Marietta South | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.23 | Property | 1 | Prime Storage Cartersville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.24 | Property | 1 | Prime Storage Danbury West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.25 | Property | 1 | Prime Storage Scarborough | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.26 | Property | 1 | Prime Storage Baltimore | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.27 | Property | 1 | Prime Storage Farmingdale | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.28 | Property | 1 | Prime Storage Baltimore - 3500 Wilkens Ave. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.29 | Property | 1 | Prime Storage Glenville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.30 | Property | 1 | Prime Storage Fishers Ford Dr. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.31 | Property | 1 | Prime Storage Acworth North | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.32 | Property | 1 | Prime Storage Rock Hill | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.33 | Property | 1 | Prime Storage Simpsonville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.34 | Property | 1 | Prime Storage Acworth East | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.35 | Property | 1 | Prime Storage Saco | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.36 | Property | 1 | Prime Storage Baltimore North Point Blvd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.37 | Property | 1 | Prime Storage Green Island | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.38 | Property | 1 | Prime Storage North Fort Myers | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.39 | Property | 1 | Prime Storage Marietta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.40 | Property | 1 | Prime Storage Midland | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.41 | Property | 1 | Prime Storage Lansing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.42 | Property | 1 | Prime Storage Acworth West | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.43 | Property | 1 | Prime Storage Boardman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.44 | Property | 1 | Prime Storage North Miami | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
3.45 | Property | 1 | Prime Storage Greenville Butler Rd. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4 | Loan | 9, 20, 21, 22, 23, 24 | 2 | Scottsdale Gilbert Retail Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
4.01 | Property | 1 | Gilbert Gateway Towne Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
4.02 | Property | 1 | Scottsdale Towne Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
5 | Loan | 9, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 | 1 | Philadelphia Marriott Downtown | 230.42 | 131.55 | 57.1% | 221.64 | 102.75 | 46.4% | 181.77 | 37.37 | 20.6% |
6 | Loan | 9, 36, 37, 38, 39, 40 | 13 | Merit Hill Self Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
6.01 | Property | 1 | 2615 East 12th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.02 | Property | 1 | Parkglenn Self-Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.03 | Property | 1 | 630 Macarthur Boulevard & 59 Jonathan Bourne Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.04 | Property | 1 | 30690 Aldine Westfield Rd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.05 | Property | 1 | 13404 E Broncos Pkwy | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.06 | Property | 1 | 3803 N Navarro St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.07 | Property | 1 | 2102 NW Stallings Dr | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.08 | Property | 1 | 2005 W Wheeler Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.09 | Property | 1 | 3817 Gulf Freeway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.10 | Property | 1 | 1600 E General Cavazos Blvd | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.11 | Property | 1 | 11615 Rubina Pl | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.12 | Property | 1 | 4222 N Main St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
6.13 | Property | 1 | 12 Irongate Drive | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
7 | Loan | 9, 41, 42, 43 | 1 | Lake Merritt Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8 | Loan | 44 | 2 | Chelsea Bronx Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
8.01 | Property | 1 | 521 West 21st Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
8.02 | Property | 1 | 656 East 133rd Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
9 | Loan | 45, 46 | 1 | Arizona Republic Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
10 | Loan | 47, 48, 49, 50 | 1 | Related Home Depot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
11 | Loan | 51, 52, 53, 54, 55 | 1 | Cotton Court | 176.21 | 106.24 | 60.3% | 175.09 | 102.77 | 58.7% | 143.58 | 80.01 | 55.7% |
12 | Loan | 56, 57 | 1 | Waterstone Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
13 | Loan | 9, 58, 59, 60, 61, 62, 63, 64, 65 | 1 | One & Two Commerce | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
14 | Loan | 66, 67, 68 | 1 | Spinner Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
15 | Loan | 9, 69, 70, 71, 72, 73, 74, 75, 76, 77 | 1 | Harborside 2-3 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
16 | Loan | 78, 79 | 1 | Doubletree Columbia | 150.65 | 109.14 | 72.5% | 146.81 | 103.62 | 70.6% | 121.69 | 80.03 | 65.8% |
17 | Loan | 9, 80, 81, 82, 83 | 5 | Gilardian NYC Portfolio II | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
17.01 | Property | 1 | 2410-2418 Broadway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.02 | Property | 1 | 245 West 51st Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.03 | Property | 1 | 324-326 West 84th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.04 | Property | 1 | 107 West 68th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
17.05 | Property | 1 | 1443-1447 York Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
18 | Loan | 84, 85 | 1 | Hampton Inn & Suites Atlanta | 123.81 | 88.10 | 71.2% | 122.27 | 81.60 | 66.7% | 106.00 | 62.68 | 59.1% |
19 | Loan | 1 | College Center Abella | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
20 | Loan | 9, 86, 87, 88, 89, 90, 91 | 1 | 12800 Culver Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
21 | Loan | 92, 93, 94, 95 | 1 | Irvine Executive Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
22 | Loan | 96, 97 | 1 | 1124-1126 Third Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23 | Loan | 98, 99, 100 | 2 | Stockton & Nostrand | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
23.01 | Property | 1 | Stockton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
23.02 | Property | 1 | Nostrand | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
24 | Loan | 101, 102, 103 | 1 | 688-690 9th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
25 | Loan | 104, 105, 106, 107, 108 | 1 | 19881 Cajon Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
26 | Loan | 1 | Cityline Added Space Self Storage Memorial Parkway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
27 | Loan | 1 | Cityline Safe Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
28 | Loan | 1 | CityLine Added Space Self Storage Sparkman | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
A-24 |
Footnotes to Annex A | |
(1) | The Administrative Fee Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan. |
(2) | The Monthly Debt Service (P&I)($) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period. |
(3) | The open period is inclusive of the Maturity Date or Anticipated Repayment Date. |
(4) | Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) are calculated based on amortizing debt service payments (except for interest-only loans). |
(5) | Leased Occupancy (%) includes tenants that have signed leases, but are not yet in occupancy or may not be paying rent. |
(6) | The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease. See “Description of the Mortgage Pool—Tenant Issues” in the Preliminary Prospectus for certain examples of the foregoing. |
(7) | Property Located Within a Qualified Opportunity Zone (Y/N) reflects Mortgaged Properties that are located in qualified opportunity zones ("QOZs") under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his or her delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ. |
(8) | If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated. |
(9) | The Cut-off Date Balance ($) reflects only the Mortgage Loan included in the Issuing Entity (which may be evidenced by one or more promissory notes); however, such Mortgage Loan is part of a whole loan comprised of such Mortgage Loan and one or more Pari Passu Companion Loan(s) and/or Subordinate Companion Loan(s) that are held outside the Issuing Entity, each of which is evidenced by one or more separate promissory notes. With respect to each such Mortgage Loan that is part of a whole loan, the Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan Per Unit ($) calculations include any related Pari Passu Companion Loan(s) but exclude any related Subordinate Companion Loan(s). See “Description of the Mortgage Pool—The Whole Loans” in the Preliminary Prospectus for additional information regarding the whole loan(s). |
A-25 |
(10) | The borrower is required to deposit into an eligible account (the “FF&E Reserve Account”) on each monthly payment date, an amount equal to the greater of (i) the FF&E Payment (as defined herein) and (ii) the amount of deposit if any then required by the franchisor on account under the franchise agreement. The “FF&E Payment” means an amount equal to 1/12 of four percent (4%) of the greater of (a) the annual gross revenues for the hotel related operations at the Warwick New York mortgaged property for the immediately preceding calendar year as reasonably determined by the lender and (b) the projected annual gross revenues for the hotel related operations for the calendar year in which such monthly payment date occurs as set forth in the approved annual budget, or where no approved annual budget exists as of the date of determination, the amount of the FF&E Payment will be determined by the lender in its reasonable discretion. The initial monthly FF&E Payment was determined to be approximately $152,424. |
(11) | The borrower is required to deposit into a seasonal reserve (“Seasonal Reserve”), an amount equal to 90% of the excess cash flow generated by the property for the immediately preceding interest accrual period, for the purpose of creating a reserve for shortfalls during seasonal periods when the gross revenue of the property may be reduced. Notwithstanding the foregoing, any amounts that would be deposited by the borrower into the Seasonal Reserve that would cause the funds then on deposit in such account to exceed $1,100,000 must instead be deposited into the excess cash flow account. |
(12) | The defeasance lockout period will be at least 25 payment dates beginning with and including the first payment date on November 6, 2023. Defeasance of the Overlook at Ballantyne Whole Loan, in whole, but not in part, is permitted at any time after the earlier of (i) the third anniversary of the origination date (which will occur on September 13, 2026) and (ii) two years from the “startup day” of the REMIC which holds the portion of the Overlook at Ballantyne Whole Loan last contributed to a securitization. In addition, on any business day on and after October 6, 2025, voluntary prepayment of the Overlook at Ballantyne Whole Loan is permitted in whole, but not in part, together with, if such voluntary prepayment occurs prior to the monthly payment date in January 2028, a prepayment fee equal to the greater of (x) 1.00% of the principal amount of the Overlook at Ballantyne Whole Loan being prepaid and (y) a yield maintenance premium. The assumed defeasance lockout period of 25 payment dates is based on the expected Benchmark 2023-V4 securitization cut-off date in November 2023. |
(13) | Historical cash flows are not available, as the mortgaged property was built in 2020 and was still leasing up in 2021 and 2022. |
(14) | The Third Largest Tenant, Compass North, representing 2.5% of the total net rentable square footage, subleases 7,935 square feet (representing 100% of its space) to Waste Connections of North Carolina, Inc. as of June 8, 2023. The sublease is scheduled to expire on June 30, 2025. |
(15) | A Grace Period - Late Fee of five days is permitted once during any 12-month period. |
(16) | The Prime Storage Portfolio #3 whole loan is comprised of four pari passu senior promissory notes in the aggregate original principal amount of $405,870,000, which was originated on June 28, 2023 by CREFI with an interest rate of 6.39000% and one subordinate promissory Note B in the original principal amount of $64,130,000 , which was originated on June 28, 2023 by CREFI with an interest rate of 6.39000%. |
(17) | Concurrently with the funding of the Prime Storage Portfolio #3 whole loan, Carbon Capital VII LLC, originated a mezzanine A loan in the amount of $50,000,000 secured by the mezzanine A borrower’s interests in the borrowers under the Prime Storage Portfolio #3 whole loan, as collateral for the mezzanine A loan (the “Mezzanine A Loan”). The Mezzanine A Loan is coterminous with the Prime Storage Portfolio #3 whole loan. The Mezzanine A Loan accrues interest at a rate of 9.00000% per annum and requires interest-only payments until its maturity date. Concurrently with the funding of the Prime Storage Portfolio #3 whole loan, Citigroup Global Markets Realty Corp., originated a mezzanine B loan in the amount of $70,000,000 secured by the mezzanine B borrower’s interests in the borrowers, as collateral for the mezzanine B loan (the “Mezzanine B Loan”). The Mezzanine B Loan is coterminous with the Prime Storage Portfolio #3 whole loan. The Mezzanine B Loan accrues interest at a rate of 10.50000% per annum and requires interest-only payments until its maturity date. |
A-26 |
(18) | After the earlier to occur of (i) June 28, 2026 and (ii) two years from the date of the securitization of the last portion of the Prime Storage Portfolio whole loan, and prior to January 6, 2028, the borrowers may defease all or a portion of the Prime Storage Portfolio #3 whole loan and obtain the release of a property in connection with certain sales of such property or certain transfers of such property, provided that (i) in connection with a partial defeasance, the Prime Storage Portfolio #3 whole loan is partially defeased in an amount equal to the greater of (a) 120% of the allocated mortgage loan amount with respect to such individual property and (b) mortgage lender’s allocation of 100% of the net sales proceeds applicable to such individual property (and the Prime Storage Portfolio #3 mezzanine loans are prepaid in amount equal to the release price under the mezzanine loan documents), (ii) the DSCR with respect to the remaining properties is equal to or greater than the greater of (a) the DSCR immediately preceding such partial release and (b) 1.05x and (iii) the Borrowers have delivered a REMIC opinion, and paid all of mortgage lender’s reasonable costs and expenses in connection with such defeasance. On and after January 6, 2028, borrowers may sell or dispose of one or more individual properties upon satisfying certain conditions under the Prime Storage Portfolio #3 whole loan documents. |
(19) | The Appraised Value represents the portfolio appraised value of $790,800,000, prepared by the appraiser, which is inclusive of an approximately 5.8% portfolio premium and reflects the “as-is” value of the mortgaged properties as a whole if sold in their entirety to a single buyer. |
(20) | On October 19, 2023, QFP II, LP. originated a mezzanine loan in the amount of $7,000,000 secured by the mezzanine borrower’s equity interests in the Scottsdale Gilbert Retail Portfolio whole loan borrower. Such mezzanine loan accrues interest at a rate of 13.00000% per annum and is coterminous with the Scottsdale Gilbert Retail Portfolio whole loan. An intercreditor agreement between the lender under the Scottsdale Gilbert Retail Portfolio whole loan and the lender under such mezzanine loan was executed simultaneously with the origination of such mezzanine loan. |
(21) | The Appraised Value of $143,450,000 represents the prospective market value upon stabilization of both the Gilbert Gateway Towne Center and the Scottsdale Towne Center mortgaged properties based on the assumptions that, with respect to the Gilbert Gateway Towne Center mortgaged property, the tenant improvements for Einstein Bros Bagels and The Great Greek Mediterranean are completed by December 2023 and rent payments begin January 1, 2024 pursuant to such tenants’ respective leases and, with respect to the Scottsdale Town Center mortgaged property, all leasing and tenant improvement costs are paid for Mountainside Fitness. Based on the "as-is" value of $133,590,000, the Cut-off Date LTV and Maturity Date LTV are 60.6%. |
(22) | The Largest Tenant at the Scottsdale Towne Center mortgaged property, Mountainside Fitness, representing approximately 29.9% of the net rentable square footage, is expected to take occupancy in April 2024. |
(23) | The borrowers are required to deposit on each monthly payment date beginning in November 2024, an amount equal to $27,004.25 into the tenant improvements and leasing commissions reserve account; provided, however, that the borrowers will have no obligation to make such monthly payment if the reserve fund equals or exceeds $648,102. The upfront tenant improvements and leasing commissions reserve deposit of $1,250,000 paid at closing is excluded from the calculation. |
(24) | The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to seven new leases commencing in 2023/2024 that account for $1,555,535 of underwritten base rent. This includes leases executed by Mountainside Fitness, The Great Greek Mediterranean and Einstein Bros Bagels, which have not yet taken occupancy. |
(25) | The mortgage loan is part of a Whole Loan that was co-originated by JPMCB, Barclays Capital Real Estate Inc. and Wells Fargo Bank, National Association. JPMCB will be contributing Note A-2, Note A-5 and Note A-8 with an aggregate Cut-off Date Balance of $50,000,000 to the Benchmark 2023-V4 securitization. |
(26) | The Underwritten EGI ($) at the Philadelphia Marriott Downtown Property is comprised of four components: rooms (64.9% of underwritten revenue), food and beverage ("F&B") (30.2% of underwritten revenue), other operated departments (2.0% of underwritten revenue) and miscellaneous income (2.9% of underwritten revenue). |
A-27 |
(27) | The increase from the Most Recent NOI to the Underwritten NOI is primarily attributable to increases in room revenue and F&B revenue following the impact of the COVID-19 pandemic in 2020 and 2021. Historical performance was largely impacted by the COVID-19 pandemic, during which the Philadelphia Marriott Downtown Property was closed from April 10, 2020 through May 27, 2021 and underwent extensive renovations including renovation of 1,408 guestrooms. |
(28) | The lockout period is required to be at least 24 payments beginning with and including the first payment date of December 6, 2023. After the earlier of (x) the date that is two years from the closing date of the securitization that includes the last note of the Philadelphia Marriott Downtown Whole Loan to be securitized and (y) October 25, 2026 (the “Lockout Expiration Date”), which is the date that is three years from the origination date of the Philadelphia Marriott Downtown Whole Loan, the borrowers may prepay the Philadelphia Marriott Downtown Whole Loan at any time in whole (but not in part), subject to payment of the yield maintenance premium if such prepayment occurs before May 6, 2028 (the “Permitted Prepayment Date”). In addition, the borrowers may defease the Philadelphia Marriott Downtown Whole Loan in whole (but not in part) after the Lockout Expiration Date and prior to the Permitted Prepayment Date. The assumed lockout period of 24 months is based on the expected closing date of the Benchmark 2023-V4 securitization in November 2023. The actual lockout period may be longer. |
(29) | The related whole loan documents permit future mezzanine debt secured by a pledge of direct equity interests in the borrowers and operating lessee subject to the satisfaction of certain conditions including, among others, (i) immediately after giving effect to such debt (x) the combined loan-to-value ratio, as calculated in accordance with the Philadelphia Marriott Downtown Whole Loan documents, may not exceed 54.9%, (y) the combined net operating income debt yield, as calculated in accordance with the Philadelphia Marriott Downtown Whole Loan documents, is at least 13.2% and (z) the combined net operating income debt service coverage ratio, as calculated in accordance with the Philadelphia Marriott Downtown Whole Loan documents, is at least 1.50x and (ii) execution of a subordination and intercreditor agreement reasonably acceptable to the lender and satisfactory to the rating agencies. |
(30) | Each of the two related borrowers has entered into an operating lease (each, an “Operating Lease”) with CCMH Philadelphia Mkt. LLC (the “Operating Lessee”), an affiliate of the borrowers. The Operating Lessee (i) is a party to the related mortgage and grants the lender a first priority security interest in the leasehold interest created by each Operating Lease, and (ii) has caused both of its members to pledge their respective membership interests in the Operating Lessee in favor of the lender. All cash generated at the Philadelphia Marriott Downtown Property will flow from the manager (the “Manager”) under the related management agreement between the Manager and the borrowers, to the Operating Lessee, who will deposit all revenue into a restricted account pledged to the lender. Each Operating Lease expires in December 2034 if all renewal periods are exercised. See “Description of the Mortgage Pool–Tenant Issues–Affiliated Leases and Master Leases” in the Prospectus. |
(31) | In connection with each Operating Lease, each borrower conveyed certain working capital to the Operating Lessee with the aggregate outstanding balance as of the origination date of the Philadelphia Marriott Downtown Whole Loan of $2,939,385 (the “Working Capital Loan”) in the form of a loan, with respect to which the Operating Lessee executed a promissory note in favor of each borrower. The Working Capital Loan is subordinate to the Philadelphia Marriott Downtown whole loan. In addition, there currently exist seven intercompany loans among various affiliates of the related borrowers, ranging in amount from $100,454 to $93,956,182 (collectively, the “Intercompany Loans”) and three of which involve one of the two related borrowers under the Philadelphia Marriott Downtown Whole Loan, Philadelphia Market Street HMC Hotel Limited Partnership, as the borrower, ranging in amount from $100,454 to $89,303,566. Each of the Intercompany Loans is subordinate to the Philadelphia Marriott Downtown Whole Loan. None of the Intercompany Loans is secured by any collateral and all enforcement actions require the prior written consent of the lender (or the Philadelphia Marriott Downtown Whole Loan must be indefeasibly paid in full) in accordance with a subordination and standstill agreement. See “Description of the Mortgage Pool–Additional Indebtedness–Permitted Unsecured Debt and Other Debt” in the Prospectus. |
A-28 |
(32) | Certain affiliates of the related borrower sponsors (collectively, the “Preferred Equity Investor”) hold preferred equity interests in one of the related borrowers, Philadelphia Market Street HMC Hotel Limited Partnership, in connection with an aggregate of $23.0 million capital contribution in such borrower. The Preferred Equity Investor is entitled to a preferred annual rate of return in an amount equal to 12% of cash distributions, payable when any distributions are made under the related operating agreement. The preferred equity investment does not have a fixed redemption period, and the related operating agreement does not provide the Preferred Equity Investor with any remedies in the event of a default under the preferred equity arrangement. See “Description of the Mortgage Pool–Additional Indebtedness–Preferred Equity and Preferred Return Arrangements” in the Prospectus. |
(33) | The Mortgaged Property is substantially owned in fee by the borrowers. However, (i) a skybridge (the “Bridge”) connecting the main building of the Philadelphia Marriott Downtown Property and the Pennsylvania Convention Center and (ii) a parcel of land, which allows for an overhang and partial driveway at one of the entrances to the Mortgaged Property (the “Tunnel”), are subject to certain sub-ground leases, each with a nominal annual rent due. The sub-ground leases are between one of the two related borrowers, Philadelphia Market Street HMC Hotel Limited Partnership, as the subtenant, and the Redevelopment Authority of the City of Philadelphia (“RDA” or “Sublandlord”), which in turn leases the same premises from the City of Philadelphia, as the landlord. The Bridge sublease is also subject to a reciprocal easement agreement with the Pennsylvania Convention Center Authority with respect to maintenance of such Bridge. See “Description of the Mortgage Pool–Statistical Characteristics of the Mortgage Loans–Leasehold Interests” in the Prospectus. |
(34) | The Mortgage Loan Documents provide that, in the event that a cash sweep period is continuing solely as a result of the debt service coverage ratio for the Philadelphia Marriott Downtown Whole Loan being less than 1.20x, the related borrowers may prepay the Philadelphia Marriott Downtown Whole Loan in an amount sufficient such that the debt service coverage ratio for the Philadelphia Marriott Downtown Whole Loan is equal to or greater than 1.20x, in which case, such cash sweep period will immediately cease. |
(35) | The Mortgage Loan Documents are structured with a soft lockbox, pursuant to which all cash generated at the related Mortgaged Property which the borrowers and operating lessee are entitled to receive pursuant to the related management agreement is required to be deposited to the lockbox account by the related property manager within one business day after the borrowers or operating lessee are entitled to distributions thereto so long as the following conditions are satisfied: (i) the related Mortgaged Property is managed by the hotel manager under the management agreement as in effect as of the origination of the Mortgage Loan; (ii) such management agreement remains in full force and effect; and (iii) such hotel manager is maintaining the cash management system and FF&E reserves as set forth in the management agreement (collectively, the “Qualified Hotel Management Condition”). However, if the Qualified Hotel Management Condition is not satisfied, the borrowers and operating lessee are required to, or cause the property manager to, (i) deposit all gross revenue and all forfeited security deposits into the lockbox account within one business day of receipt thereof, and (ii) send direction letters to (x) all tenants then occupying space at the Mortgaged Property instructing them to pay all rent and other sums due under the related leases directly into the lockbox account and (y) each applicable credit card company and credit card clearing bank instructing them to deliver all receipts payable with respect to the Mortgaged Property directly to the lockbox account. |
(36) | The mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA and Wells Fargo Bank, National Association. |
(37) | Defeasance of the Merit Hill Self Storage whole loan is permitted at any time after the earlier to occur of (a) the end of the two-year period commencing on the closing date of the securitization of the last portion of the Merit Hill Self Storage whole loan to be securitized and (b) September 22, 2026. The assumed defeasance lockout period of 25 payments is based on the closing date of the Benchmark 2023-V4 securitization trust in November 2023. The actual lockout period may be longer. |
A-29 |
(38) | Provided that no event of default is continuing, (I) at any time after the earlier of (x) September 22, 2026 and (y) the date that is two years after the closing date of the securitization that includes the last note to be securitized, the borrowers may deliver defeasance collateral and obtain release of one or more individual Mortgaged Properties, and (II) at any time on or after the monthly payment date occurring in October 2025, the borrowers may partially prepay the Merit Hill Self Storage Whole Loan and obtain release of one or more individual Mortgaged Properties, in each case, provided that, among other conditions, (i) the borrowers (A) prepay (x) 110% of the allocated loan amount of such Mortgaged Property or Mortgaged Properties until such time as the outstanding principal balance of the Merit Hill Self Storage Whole Loan is equal to or greater than $68,000,000, and (y) 115% of the allocated loan amount of such Mortgaged Property or Mortgaged Properties at such time as the outstanding principal balance of the Merit Hill Self Storage Whole Loan is less than $68,000,000 (such total product, the “Merit Hill Adjusted Release Amount”) and pay any applicable yield maintenance premiums or (B) deliver defeasance collateral to the lender in an amount equal to the Merit Hill Adjusted Release Amount, in each case, in accordance with the Merit Hill Self Storage Whole Loan documents, (ii) after giving effect to such release, the debt yield for the remaining Mortgaged Properties is equal to or greater than the greater of (a) 8.55% and (b) the debt yield immediately prior to such release (such greater amount, the “Merit Hill Release Debt Yield”); provided that in the event the debt yield does not equal or exceed the Merit Hill Release Debt Yield, the borrowers are permitted to release the individual Mortgaged Property and the amount required to be prepaid or defeased, as applicable, in connection with such release will equal the greater of (x) the Merit Hill Adjusted Release Amount for the applicable individual Mortgaged Property and (y) an amount necessary to achieve the Merit Hill Release Debt Yield; provided, further, that, for purposes of this clause (y), if the individual Mortgaged Property is being sold to a third party unaffiliated with the borrowers on arm’s length market terms, then, if after giving effect to such sale and release, and application of Merit Hill Net Sales Proceeds (as defined below), the borrowers do not satisfy clause (b) of the definition of “Merit Hill Release Debt Yield” but satisfy clause (a) of such definition, then the amount to be paid described in this clause (y) will be 100% of the gross sales proceeds for such individual Mortgaged Property (net of actual closing costs incurred in connection with such sale (but only to the extent the same are arm’s length, market terms closing costs and are not paid to affiliates of the borrowers) (the “Merit Hill Net Sales Proceeds”), (iii) satisfaction of customary REMIC requirements and (iv) the borrowers reimburse the lender and servicer, if any, for any reasonable out-of-pocket, third-party costs and expenses of the lender and servicer arising from such release (including reasonable attorneys’ fees and expenses not to exceed (x) $10,000.00 with respect to the coordinated release (simultaneously or on or about the same date) of between one and four individual Mortgaged Properties and (y) $20,000.00 with respect to the coordinated release (simultaneously or on or about the same date) of five (5) or more individual Mortgaged Properties) in accordance with the terms of the related loan agreement. |
(39) | Provided no event of default exists, the borrowers may obtain the release of unimproved non-income producing land located at individual Mortgaged Properties (each a “Release Parcel”) (provided that no value was attributed to such Release Parcel in the appraisal delivered to the lender as of the loan origination date) upon satisfaction of certain conditions, including, but not limited to, (i) the remaining property constitutes a separate tax lot (or the borrowers have filed an application for a separate tax lot and the transferee and transferor borrower have otherwise entered into a property tax allocation agreement which has the same economic effect of a tax lot subdivision), (ii) the borrowers certify to the lender that the remaining property with all easements appurtenant and other permitted encumbrances thereto will not be in violation of any leases and any then applicable legal requirements or material covenants and restrictions of record and (iii) satisfaction of any REMIC release conditions. The borrowers may also (a) transfer immaterial portions of individual Mortgaged Properties, including, without limitation, to governmental authorities for dedication or public use or in connection with a condemnation proceeding, or to third parties for private use as roadways or for access, ingress or egress, or (b) grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for use, access and utilities, provided that no such grant, conveyance or encumbrance has a material adverse effect. |
(40) | The Appraised Value ($) represents the portfolio appraised value, which is inclusive of an approximately 4.8% portfolio premium and reflects the “as-is” value of the mortgaged properties as a whole if sold in their entirety to a single buyer. |
A-30 |
(41) | The Fourth Largest Tenant, Big Fish Games, Inc, representing approximately 4.3% of net rentable area, subleases approximately 20,977 SF to East Bay Energy. The East Bay Energy sublease expiration date is coterminous with the lease expiration date of March 31, 2025, however, East Bay Energy executed a seven-year, seven-month direct lease for the same suite, which will commence on April 1, 2025 at an initial base rent of $64.00 PSF. Underwritten base rent is based on the contractual sublease rate, inclusive of rent steps through October 2024. |
(42) | On each payment date following the date that the amount contained in the TI/LC reserve account is less than $2,500,000, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to approximately $81,833 until the amounts on deposit in the TI/LC reserve account are equal to or greater than $5,000,000. |
(43) | There is no non-recourse carveout guarantor or environmental indemnitor separate from the borrower. |
(44) | The 656 East 133rd Street mortgage property benefits from a Commercial Expansion Program real estate tax abatement of $150,000 annually through February 2032 of which 50% is shared with WDF, Inc. and is applied as a reduction in rent. |
(45) | The monthly deposits into the real estate tax reserve account will be suspended if (i) no trigger period has occurred and is continuing, (ii) an approved net lease is in full force and effect and has not expired or terminated, (iii) such approved net lease requires that the approved net tenant pay all real estate taxes with respect to the property, (iv) the approved net tenant is timely paying all real estate taxes, and (v) the borrower delivers to the lender evidence of timely payment of all of the real estate taxes. As of the loan origination date, the lease of the sole tenant, Phoenix Newspapers, Inc.’s lease, which is guaranteed by a parent entity, Gannett Co., Inc., does not satisfy the conditions provided in clause (iii) above, therefore the borrower is required to deposit an amount equal to one-twelfth of the real estate taxes that the lender estimates will be payable during the ensuing 12 months (initially $26,800.17), in order to accumulate sufficient funds to pay all real estate taxes at least 30 days prior to their respective due dates. |
(46) | Historical cash flows are not available as the loan proceeds were used by the borrower sponsor to acquire the mortgaged property from the sole tenant in a sale leaseback transaction, and accordingly no historical financial information was available in connection with such acquisition. |
(47) | On each monthly payment date, the borrower is required to deposit into a TI/LC reserve an amount equal to $5,625; provided that such deposit is not required while the Home Depot sublease is in full force and effect. In addition, if an eligible sublease with an investment grade tenant is in effect, the monthly deposit will be reduced by a pro rata amount based on the square footage of the premises demised under any such eligible leases and the gross leasable square footage of the Mortgaged Property. |
(48) | On each monthly payment date, the borrower is required to deposit into a capital expenditure reserve an amount equal to $1,125; provided that such deposit will not be required so long as the following conditions remain satisfied: (x) for so long as the Home Depot sublease is in full force and effect, (i) Home Depot is expressly obligated to directly make and pay for all capital expenditures as required under the Home Depot sublease and (ii) the borrower enforces such obligations to be performed by Home Depot under the Home Depot sublease in a commercially reasonable manner; and (y) at all other times, (i) no event of default has occurred and is continuing, (ii) such critical tenant is an investment grade tenant, (iii) such critical tenant is expressly obligated to directly make and pay for all capital expenditures as required under the critical tenant lease, (iv) the applicable critical tenant lease is in full force and effect, (v) such critical tenant makes (or causes to be made) and pays (or causes to be paid) for all such capital expenditures within the timeframe set forth in the applicable critical tenant lease, (vi) the borrower provides (or causes to be provided) to the lender evidence that the capital expenditures have been performed and all costs associated with such capital expenditures have been paid, and (vii) no cash sweep event period by reason of a critical tenant trigger event has occurred and is continuing. |
A-31 |
(49) | The related Ground Lease has an initial term of 20 years, expiring on October 31, 2027, with five, 10-year renewal options through October 31, 2077. |
(50) | A Grace Period - Late Fee of five days is permitted twice during any 12-month period. |
(51) | The Appraised Value ($) represents the “prospective market value upon completion” appraised value which assumes the mortgaged property’s hotel room count is 166 keys. As of the June 14, 2023 appraisal valuation date, the mortgaged property’s hotel room count was 165 keys, but the former staff apartment was in the process of being converted into a one-bedroom suite. Upon completion, which was anticipated in the appraisal to be by September 30, 2023, the hotel’s guestroom count will increase by one to 166 rooms. At loan closing, the borrower deposited $32,500 in an upfront immediate repairs reserve. $20,000 of the immediate repairs reserve was attributed to the room conversion, which was equal to the engineering consultant’s estimated cost to complete the renovation. Based on the expected Benchmark 2023-V4 securitization closing date in November 2023, the repositioning has not been completed, and the mortgaged property’s hotel room count is still 165 keys. The “as-is” appraised value of the mortgaged property as of June 14, 2023, is $38,100,000. |
(52) | Based on the “as is” Appraised Value ($) of $38,100,000, which was based on the hotel's guest room count of 165 keys as of June 14, 2023, the Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are each 55.1%. |
(53) | The borrower is required to deposit an amount equal to the greatest of (i) 4.0% of the projected gross revenue for the mortgaged property for the prior month as set forth in the most recent approved annual budget (provided, that, to the extent the lender determines that actual gross revenue is materially in excess of such projections, the lender has the option to increase the amount to match actual gross revenue), (ii) the then-current amount for a furniture, fixtures and equipment (“FF&E”) reserve required by the property management agreement and (iii) the then-current amount required by the franchise agreement for approved capital expenditures and the repair and replacement of the FF&E. |
(54) | The borrower deposited $76,500 into a seasonal working capital reserve on the origination date and is required to deposit $38,250 into such reserve during the calendar months of October and November during the 2023 calendar year. Every August, September, October, and November during the remaining term of the loan, the borrower is required to deposit into the seasonal working capital reserve an amount equal to the lesser of: (A) $38,250 and (B) 1/4th of the positive difference determined by subtracting: (x) the aggregate gross revenue (excluding extraordinary income) received with respect to mortgaged property during the month of December in the immediately preceding calendar year and the month of January in the then-current calendar year from (y) without duplication, the aggregate of all operating expenses, debt service, deposits to the reserve funds and other amounts payable pursuant the loan documents during the month of December in the immediately preceding calendar year and the month of January in the then-current calendar year. The lender is required to disburse available funds in such account during the months of January and February to the extent that the lender has determined in its reasonable discretion that there are insufficient funds in the cash management account (or if a trigger period is not in effect, that there are insufficient funds generated by the mortgaged property) to make required monthly payments during such months. |
(55) | The borrower has the right to deposit with the lender $566,470.11 in cash to avoid or terminate a cash management trigger event caused by the mortgaged property achieving a debt service coverage ratio below 1.35x on the last day of any calendar quarter. If such deposit is made, the lender must transfer the deposit into an account (the “Low DSCR Cure Deposit Account”). Funds in the Low DSCR Cure Deposit Account not previously disbursed or applied must be disbursed to the borrower if either (i) the borrower deposits with the lender a letter of credit in lieu of such cash funds, or (ii) the mortgaged property has achieved (without taking into account any funds in such account or letters of credit deposited for such purpose), a debt service coverage ratio of at least 1.35x for two consecutive calendar quarters. |
A-32 |
(56) | Provided that no event of default is continuing, the borrower may obtain release of an outparcel on which the Verizon store is currently situated from the lien of the Mortgage Loan in connection with a bona fide third party sale of such parcel to an unaffiliated third party (and neither the borrower sponsor, guarantor or an affiliate of the foregoing will be entitled to re-acquire such outparcel so long as the Mortgage Loan remains outstanding) by defeasing or partially prepaying (along with any applicable yield maintenance premium, if any) a portion of the Mortgage Loan equal to the greater of (i) $1,152,436 or (ii) 68.0% of the sale price. Additionally, the borrower may release a 2.337 acre undeveloped outparcel to (1) an affiliate of the borrower at $986,773, or (2) to an unaffiliated third party in connection with the sale of such outparcel by defeasing or partially prepaying (along with any applicable yield maintenance premium, if any) a portion of the Mortgage Loan equal to the greater of (i) $986,773 or (ii) 68.0% of the sale price. The release of either outparcel and associated release price will be subject to (A) the debt yield after giving effect to such release being at least the greater of (x) 11.28% and (y) the debt yield immediately prior to such sale/release, (B) the debt service coverage ratio after giving effect to such release being at least the greater of (x) 1.36x and (y) the debt service coverage ratio immediately prior to such sale/release, (C) satisfaction of customary REMIC requirements and (D) the borrower reimburses the lender for any reasonable out-of-pocket, third-party costs and expenses of the lender arising from such release (including reasonable attorneys’ fees and expenses and costs) in accordance with the terms of the related loan agreement. |
(57) | On each payment date, if and to the extent the amount contained in the TI/LC reserve account is less than $500,000, the borrower is required to deposit into the TI/LC reserve account a monthly TI/LC Reserve ($) amount equal to $12,500. |
(58) | The mortgage loan is part of a whole loan that was co-originated by Bank of America, N.A., Barclays Capital Real Estate Inc. and JPMorgan Chase Bank, National Association. |
(59) | The Largest Tenant, Price Water House Coopers LLP, subleases the 23rd floor (23,037 square feet of its 138,413 square feet) coterminous with its lease and the Fourth Largest Tenant, Pond Lehocky Giordano Disability, subleases 15,838 square feet of its 66,315 square feet through January 31, 2026. |
(60) | Upfront Other Reserve ($) is the aggregate of $9,200,744 for outstanding tenant improvement allowances and outstanding leasing commissions, and $1,912,160 for outstanding free rent and gap rent obligations. |
(61) | During a trigger period, the borrowers are required to deposit monthly replacement reserves equal to approximately $39,503. During the continuance of a trigger period, the borrowers will be required to deposit $237,018 on a monthly basis to the TI/LC Reserve. Additionally, when (i) the balance of the TI/LC Reserves is less than $15,000,000 and (ii) the TI/LC Reserve occupancy falls below 85%, the whole loan documents will require a cash sweep until the balance returns to $25,000,000. Further, the non-recourse carveout guarantor has provided a guaranty for an additional $20,000,000 to the TI/LC Reserves, which guaranty will be reduced by any amounts contributed to the TI/LC Reserve after the loan origination date. |
(62) | The Second Largest Tenant, Fox Rothschild, has the option to contract one floor of its space on November 30, 2032, with a notice no later than November 30, 2031. Fox Rothschild has an option to terminate its space on November 30, 2035, with notice no later than November 30, 2034 along with payment of a termination fee. The Third Largest Tenant, Stradley, Ronon, Stevens & Young, LLP, has a termination right for all of its leased space with notice by February 1, 2029 and payment of a termination fee, which if exercised would be effective January 31, 2031. The Fifth Largest Tenant, Wolters Kluwer Health, Inc., has a termination right on March 31, 2026 with notice by September 30, 2024 and payment of a termination fee. |
(63) | There is no separate environmental indemnitor with respect to the whole loan. |
(64) | Straight-lined rent of $252,142 was underwritten for six tenants, totaling 153,115 square feet. |
(65) | At origination, the borrower deposited a letter of credit in the amount of $25,000,000 as an upfront general TI/LC reserve. |
(66) | Occupancy and Underwritten Occupancy excludes 16,613 SF of ground level retail space that is 100% leased by the related borrower to HKW Retail LLC under a ground lease that expires on July 1, 2037. |
A-33 |
(67) | The related Mortgaged Property is subject to a PILOT program as a participant in the redevelopment project for downtown Winooski, Vermont, where the Mortgaged Property is located. The current PILOT agreement has a three-year term that expires in 2026. The borrower is required to pay an annual amount of $270,029 in year one (2023-2024), with an annual increase of 3% until the expiration of the program. According to the appraisal, real estate taxes are not anticipated to change dramatically upon expiration of the related PILOT program. The taxes were underwritten based on the actual in-place tax payments. |
(68) | The related Mortgaged Property is subject to three residential master leases, which collectively account for for 92 beds. The residential master leases provide for a monthly rental rate of $1,050 per bed and are effective through the 2025-2026 academic year if all renewals are exercised. The Mortgaged Property is also subject to a retail master lease, governing the lease terms for the 16,613-square foot retail space on the ground floor of the Mortgaged Property. The retail master lease has an annual rental rate of $37,937 and expires in July 2037. See “Description of the Mortgage Pool–Tenant Issues–Affiliated Leases and Master Leases” in the Prospectus. |
(69) | The mortgage loan is part of a whole loan that was co-originated by Bank of Montreal and Citi Real Estate Funding Inc. |
(70) | The Harborside 2-3 whole loan is structured with a $55,000,000 mezzanine loan (the “Harborside 2-3 Mezzanine Loan”) that accrues interest at (i) a rate per annum equal to 7.00% to be paid as part of each payment of the mezzanine monthly debt service payment amount resulting in a mezzanine monthly debt service payment amount of $325,289.35 and (ii) a rate per annum equal to 3.5% that accrues through the term of the Harborside 2-3 Mezzanine Loan and is scheduled to be due and payable on the maturity date resulting in a monthly debt service accrual amount of $162,644.68. The Mezzanine Debt Interest Rate (%), Total Debt Monthly Debt Service ($), Total Debt Underwritten NOI DSCR (x) and Total Debt Underwritten NCF DSCR (x) are based on an aggregate Harborside 2-3 Mezzanine Loan interest rate of 10.5% per annum. |
(71) | In addition to the interest accruing on the outstanding principal balance of the Harborside 2-3 Mezzanine Loan at a rate of 7.0000% per annum to be paid as part of each monthly debt service payment amount and an additional 3.5000% per annum that accrues through the term of the Harborside 2-3 Mezzanine Loan and is scheduled to be due and payable on the maturity date, the outstanding principal balance of the Harborside 2-3 Mezzanine Loan will accrue PIK interest at a rate of 2.29% per annum (the “PIK Interest”). The PIK Interest will be due and payable together with each mezzanine monthly debt service payment amount if either of the following conditions are not satisfied as of April 6, 2028: (i) the PIK Leasing Condition (as defined below) or (ii) if the Harborside 2-3 Mezzanine Loan is not prepaid in full. If the PIK Leasing Condition has not been satisfied as of April 6, 2028 or the Harborside 2-3 Mezzanine Loan has not been prepaid in full prior to such date, then all accrued PIK Interest will automatically be converted and added to the outstanding principal balance of the Harborside 2-3 Mezzanine Loan as of such date, and become immediately due and payable by the borrowers to the lender together with all other outstanding principal. The "PIK Leasing Condition" means delivery by the borrowers of evidence reasonably satisfactory to the lender that 75% of the aggregate rentable square feet of the Harborside 2-3 Mortgaged Property and the neighboring Harborside 1 property is leased and occupied by tenants under leases satisfying the requirements set forth in their respective loan documents. |
(72) | The borrowers are permitted to obtain mezzanine financing in connection with the assumption of the Harborside 2-3 mortgage loan, provided that the Harborside 2-3 Mezzanine Loan is repaid simultaneously with such assumption. Future mezzanine debt is permitted subject to certain conditions, including, without limitation: (i) no event of default is continuing; (ii) the mezzanine loan is made by a lender reasonably acceptable to the mortgage lender and acceptable to the applicable rating agencies; (iii) the only collateral for such mezzanine loan is the direct equity interest in (x) the mortgage borrower and (y) the equity interest in the sole member entity holding the liquor license for the operation of the property (note: the Harborside 2-3 whole loan is secured, in part, by a pledge of the direct equity interest in the holder of the liquor license); (iv) the mezzanine loan documents are reasonably satisfactory to the mortgage lender; (v) the mezzanine loan is non-recourse except for non-recourse carveouts substantially similar to those of the mortgage loan; (vi) the mezzanine lender enters into an intercreditor agreement reasonably acceptable to the mortgage lender and acceptable to the rating agencies; (vii) the mezzanine loan has a fixed rate of interest or a floating rate subject to delivery of an interest rate cap agreement; (viii) the maturity date of the mezzanine loan is not earlier than the maturity date of the Harborside 2-3 whole loan; (ix) the borrowers deliver a rating agency confirmation; (x) the loan-to-value ratio (inclusive of the mezzanine loan) shall not exceed 75.0%; (xi) the DSCR (the Harborside 2-3 whole loan only) as of the date of closing of the mezzanine loan is at least 1.81x; and (xii) the DSCR (inclusive of the mezzanine loan) as of the date of closing of the mezzanine loan is at least 1.25x. |
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(73) | The Harborside 2-3 whole loan is structured with a $19,000,000 preferred equity investment made by NongHyup Bank, in its capacity as Trustee of Milestone Harbor East Private Investment Trust. The preferred equity investment is made in an entity (the “Pref JV”) that is the indirect owner of one of the two tenant-in-common borrowers of the Harborside 2-3 whole loan and one of the two tenant-in-common owners of the neighboring Harborside 1 property. The preferred equity investment will be repaid only from net cash distributions to the Pref JV from capital transactions with respect to the Harborside 1 property and/or the Harborside 2-3 Mortgaged Property. |
(74) | The TI/LC Reserve Cap is equal to $15,000,000. On each monthly payment date that the amount in the tenant improvements and leasing commissions reserve account is less than $10,000,000, the borrowers are required to deposit into the tenant improvements and leasing commissions reserve account an amount equal to approximately $133,252. |
(75) | The borrowers own the related Mortgaged Property as tenants-in-common. |
(76) | The Third Largest Tenant, Collectors Universe, representing approximately 8.2% of the net rentable area, is in a free rent period through November 28, 2023. |
(77) | Other Sources ($) consists of a Sea Wall credit of $27,610,000, tenant improvement and rent credits of approximately $12,104,859, a rate buydown credit of $6,250,000, and approximately $3,668,609 in other miscellaneous credits. |
(78) | The borrower is required to deposit into an eligible account (the “FF&E Reserve Account”) on each monthly payment date, an amount equal to the greater of (i) the FF&E Payment (as hereinafter defined) and (ii) the amount of the deposit (if any) then required by the franchisor on account of FF&E under the franchise agreement. The “FF&E Payment” means an amount equal to 1/12 of four percent (4%) of the greater of (a) the annual gross revenues for the hotel related operations at the Mortgaged Property for the immediately preceding calendar year as reasonably determined by the lender and (b) the projected annual gross revenues for the hotel related operations for the calendar year in which such monthly payment date occurs as set forth in the approved annual budget, or where no approved annual budget exists as of the date of determination, the amount of the FF&E Payment will be determined by the lender in its reasonable discretion. The initial monthly FF&E Payment was determined to be approximately $28,257. |
(79) | The borrower will deposit (or cause to be deposited) into an eligible account (the "Seasonality Reserve Account) held by lender or servicer on each monthly payment date occurring in the months of April through December (inclusive) in 2023, an amount equal to $14,194. With respect to any applicable monthly payment dates occurring in each calendar year after 2023, an amount equal to the quotient obtained on the monthly payment date occurring in May of such calendar year by dividing (A) the positive difference, if any, between (x) 110% of the greater of (1) the sum of the negative monthly amounts for the monthly payment dates occurring in the months of January, February and March immediately preceding such calculation date and (2) the sum of the negative monthly amounts projected for the monthly payment dates occurring in the months of January, February and March immediately following such calculation date, pursuant to the approved annual budget, and (y) the amount of seasonality reserve funds, if any, that are on deposit in the seasonality reserve account in May of such calendar year, by nine. |
(80) | The Gilardian NYC Portfolio II Mortgaged Properties contain 11 commercial units totaling 12,405 square feet of commercial space, which are 100% occupied by six retail tenants and five restaurants, which represent approximately 17.5% (excluding recoveries of $305,299) of the underwritten gross potential rent from the Gilardian NYC Portfolio II Mortgaged Properties. |
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(81) | At any time after the earlier to occur of (x) June 1, 2027 and (y) the date that is two years after the closing date of the securitization that includes the last pari passu note to be securitized, the whole loan documents permit the borrowers to obtain the release of any individual Gilardian NYC Portfolio II Mortgaged Property from the lien of the mortgage up to two times during the term of the whole loan, provided, among other conditions, (i) the borrowers defease the whole loan in an amount equal to at least 110% of the allocated loan amount for the individual Gilardian NYC Portfolio II Mortgaged Property to be released, (ii) after giving effect to such release (a) the debt service coverage ratio for the Gilardian NYC Portfolio II whole loan and the related mezzanine loan with respect to the remaining Gilardian NYC Portfolio II Mortgaged Properties is not less than (x) the debt service coverage ratio for the Gilardian NYC Portfolio II whole loan and the related mezzanine loan immediately preceding such release or (y) 1.10x and (b) the loan-to-value ratio for the Gilardian NYC Portfolio II whole loan and the related mezzanine loan with respect to the remaining Gilardian NYC Portfolio II Mortgaged Properties is not greater than the lesser of (x) the loan-to-value ratio for the Gilardian NYC Portfolio II whole loan and the related mezzanine loan immediately preceding such release and (y) 65.0%, and (iii) REMIC release requirements are satisfied. |
(82) | VOYA Commercial Mortgage Originator, LLC originated a mezzanine in the amount of $41,000,000 secured by the equity interests in 107 Mezz A, LLC, 245 Mezz A, LLC, 324 Mezz A, LLC, 1443 Mezz A, LLC, and 2410 Mezz A, LLC. The mezzanine loan is coterminous with the Gilardian NYC Portfolio II whole loan. The mezzanine loan accrues interest at a rate of 9.19800% per annum and requires interest-only payments until its maturity date. |
(83) | On each monthly payment date that the amount in the interest reserve account is less than $150,000, the borrowers are required to deposit an amount sufficient to cause the balance in the interest reserve account to equal $500,000. |
(84) | On each monthly payment date, the borrower is required to deposit into a replacement reserve an amount equal to 1/12th of (a) two percent of the projected annual gross income from operations of the mortgaged property as set forth in the approved annual budget during the first and second year of the term of the loan, and (b) four percent of the projected annual gross income from operations of the mortgaged property as set forth in the approved annual budget from and after the second year of the term of the loan. The monthly replacement reserve as of the first payment date is $6,492.60. |
(85) | The whole loan is structured with a springing lockbox. The borrower will be required to establish a lockbox account following the first occurrence of a trigger period as defined in the mortgage loan documents. The borrower will be required to deposit or cause to be deposited all sums due as set forth in the mortgage loan documents into the lockbox account. |
(86) | The mortgage loan is part of a whole loan that was co-originated by Barclays Capital Real Estate Inc. and Deutsche Bank AG, acting through its New York Branch. |
(87) | A Grace Period - Late Fee of five days is allowed once per 12-month period. |
(88) | The Largest Tenant, DIRECTV, LLC, has 85,000 square feet of space for satellite pads. |
(89) | The historical cash flows are not available as the property was purchased in 2023. |
(90) | At the lender’s option, the monthly escrows for the payment of insurance premiums will be waived if the insurance policy maintained by the borrower is under an acceptable blanket policy or if the borrower provides evidence of timely payment of insurance premiums prior to delinquency or the lender otherwise obtains verification of payment directly from the borrower's insurance agent (without the obligation to seek such verification) and there is no continuing material event of default for a period in excess of 30 or more consecutive days. On up to three occasions during the loan term, the waiver can be reinstated if the borrower does not provide timely evidence of payment but subsequently makes the required payment together with any interest and penalties. If the foregoing conditions are not satisfied, at the lender's option, on each monthly payment date, the borrower is required to deposit an amount equal to 1/12th of the insurance premiums that the lender estimates will be payable for the renewal of the coverage afforded by the policies upon expiration thereof. |
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(91) | On each monthly payment date during a specified tenant sweep period, the borrower is required to deposit into a replacement reserve an amount equal to $3,700. |
(92) | The Largest Tenant, N Consulting Engineers, which leases three units at the Mortgaged Property, covering a total of approximately 43,909 square feet (87.8% of the net rentable area and 88.2% of the underwritten gross rent), has subleased 12,500 square feet of its space (25.0% of the net rentable area and 22.7% of the underwritten gross rent) to Newport Exchange Holdings, Inc., an affiliate of Online Trading Academy, which was the previous owner of the Mortgaged Property. Each of the underlying leases by N Consulting Engineers is scheduled to expire on December 31, 2037, while the sublease is scheduled to expire on July 21, 2025. |
(93) | Each of the Largest Tenant, N Consulting Engineers, and the Fourth Largest Tenant, EKN Development Group, is an affiliate of the related borrower. |
(94) | The Appraised Value of $12,000,000 reflects the extraordinary assumption that the net rentable area at the Mortgaged Property is 47,920 square feet, which is 2,103 square feet less than the underwritten net rentable area of 50,023 square feet. JPMCB underwriting for leasable square footage is supported by the final engineering report and executed tenant leases |
(95) | The Mortgage Loan is full recourse to the related guarantor. |
(96) | The 1124-1126 Third Avenue mortgage loan is comprised of nine multifamily units totaling 6,600 square feet, representing approximately 48.3% of Underwritten EGI ($) and 2,100 square feet of retail commercial space representing approximately 51.7% of Underwritten EGI ($). |
(97) | Historical cash flows are unavailable as the borrower sponsor acquired the mortgaged property in November 2022. |
(98) | Historical cash flows are unavailable as the borrower sponsor acquired the Stockton mortgaged property in January 2023 and renovated the mortgage properties in 2023. |
(99) | The Nostrand mortgage property is comprised of two multifamily units totaling 1,044 square feet, and 3,100 square feet of retail commercial space. |
(100) | A trigger period means (A) commencing upon the earliest of (i) the occurrence and continuance of an event of default, (ii) unless the Trigger Period Avoidance Conditions (as defined herein) have then been satisfied, the DSCR being less than 1.15; (iii) the occurrence of a specified tenant trigger period and (iv) the occurrence of a free rent trigger period. Trigger Period Avoidance Conditions mean the borrowers deposit with the lender, into an eligible account established with the lender or servicer an amount equal to $35,000 and (ii) thereafter, on or prior to each date that is six months following the required date of each deposit made hereunder, the borrower deposits with the lender into the same eligible account an amount of funds equal to $35,000 (it being agreed that upon the expiration of all trigger periods then in existence, other than due to satisfaction of the Trigger Period Avoidance Conditions, all such funds so deposited will be promptly disbursed and returned to the borrowers. |
(101) | The 688-690 9th Avenue mortgage loan is comprised of 17 multifamily units totaling 9,475 square feet, representing approximately 47.1% of Underwritten EGI ($) and 3,300 square feet of retail commercial space representing approximately 52.9% of Underwritten EGI ($). |
(102) | The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to contractual rent steps on the commercial tenants as well as increased monthly rent on the multifamily units. |
(103) | The 688-690 9th Avenue mortgage loan has one or more borrowers that own all or a portion of the related Mortgaged Property as tenants–in–common. |
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(104) | The sole tenant, Bob’s Discount Furniture, subleases 10 of the 177 trailer stalls in its space to JoyRide Logistics, LLC as of September 22, 2023. The sublease is scheduled to expire on September 30, 2024 and will continue on a month to month basis thereafter until either party delivers prior written notice of at least 60 days indicating its intent to terminate. |
(105) | Historical cash flows are not available because the sole tenant, Bob’s Discount Furniture, took occupancy and commenced rent on October 31, 2022. Prior to Bob’s Discount Furniture taking occupancy, the mortgaged property was vacant land, and the construction of the improvements was not completed until 2022. |
(106) | The mortgaged property is a truck storage facility comprised of 177 trailer stalls, 4 auto parking spaces and a 170 square foot guard shack across 260,567 square feet of concrete paved land enclosed by a wrought iron and brick perimeter fence. |
(107) | The monthly deposits into the insurance reserve account will be suspended (except with respect to liability insurance) for so long as (i) no trigger period has occurred and is continuing, (ii) the lease of the sole tenant, Bob's Discount Furniture remains in full force and effect with no default continuing thereunder and (iii) Bob’s Discount Furniture maintains insurance that satisfies the requirements of the loan documents. The foregoing conditions were satisfied as of the origination date, and accordingly the borrower is not required to make deposits into the insurance reserve account, except with respect to liability insurance. |
(108) | The mortgaged property is located within a Seismic Zone 4, however a seismic risk assessment report was not required for loan closing as the property is an industrial outdoor storage facility utilized for truck storage. |
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