FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-207361-04 | ||
The Information contained herein (the "Information") is preliminary and subject to change. The information will be superseded by similar information delivered to you as part of the offering document relating to the Commercial Mortgage Pass-Through Certificates, Series CSMC 2016-NXSR (the "Offering Document"). The Information supersedes any such information previously delivered. The Information should be reviewed only in conjunction with the entire Offering Document. All of the Information is subject to the same limitations and qualifications contained in the Offering Document. The Information does not contain all relevant information relating to the underlying mortgage loans or mortgaged properties. Such information is described elsewhere in the Offering Document. The Information contained herein will be more fully described elsewhere in the Offering Document. The Information should not be viewed as projections, forecasts, predictions or opinions with respect to value. Prior to making any investment decision, prospective investors are strongly urged to read the Offering Document its entirety. The privately offered securities described in the Offering Document as to which the Information relates have not been and will not be registered under the United States Securities Act of 1933, as amended. This material should be not construed as an effort to sell or the solicitation of any offer to buy any security in any jurisdiction where such offer of solicitation could be illegal.
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For investors in publicly offered securities as to which the Information relates: The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-207361) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or the underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-221-1037.
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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.
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The information in this File 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 subject securities and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.
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Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the free prospectus. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.
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Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which this material may have been attached are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another email system. |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Mortgage Loan Originator | Mortgage Loan Seller(1) | Original Balance(2) | Cut-off Date Balance(2)(3) | Maturity/ARD Balance(2) | Cut-off Date Balance per SF/ Units/Rooms/Pads(2) | Loan Purpose | Sponsor(4) | Non-Recourse Carveout Guarantor(4) |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | Natixis | Natixis | $60,000,000 | $60,000,000 | $60,000,000 | $221 | Acquisition | Princeton HD Owner LLC | NAP |
2 | (27) | Loan | Rentar Plaza | 9.9% | Natixis | Natixis | $60,000,000 | $60,000,000 | $60,000,000 | $84 | Refinance | Dennis Ratner; Felice Bassin | Dennis Ratner; Felice Bassin |
3 | (27) | Loan | Gurnee Mills | 9.9% | Column Financial, Inc. | Column Financial, Inc. | $60,000,000 | $59,833,177 | $47,640,338 | $163 | Refinance | Simon Property Group, L.P. | Simon Property Group, L.P. |
4 | (27) | Loan | QLIC | 8.2% | Natixis | Natixis | $50,000,000 | $50,000,000 | $50,000,000 | $344,418 | Refinance | Lionshead Member LLC | Lionshead Member LLC |
5 | Loan | Walgreens Portfolio I | 5.4% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $32,581,902 | $32,581,902 | $32,581,902 | $232 | Acquisition | CF Real Estate Holdings, LLC | CF Real Estate Holdings, LLC | |
5.01 | Property | Walgreens - Midland, TX | 0.8% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $5,112,731 | $5,112,731 | $5,112,731 | $232 | ||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,562,420 | $3,562,420 | $3,562,420 | $232 | ||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,550,639 | $3,550,639 | $3,550,639 | $232 | ||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,528,256 | $3,528,256 | $3,528,256 | $232 | ||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,491,737 | $3,491,737 | $3,491,737 | $232 | ||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,491,737 | $3,491,737 | $3,491,737 | $232 | ||||
5.07 | Property | Walgreens - New London, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $232 | ||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $232 | ||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,189,850 | $3,189,850 | $3,189,850 | $232 | ||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | UBSAG | UBSAG | $32,500,000 | $32,461,538 | $26,786,165 | $196,737 | Refinance | John R. Thackeray; Kevin S. Garn; Craig C. Christensen | John R. Thackeray; Kevin S. Garn; Craig C. Christensen | |
7 | (27) | Loan | Wolfchase Galleria | 4.9% | UBSAG | UBSAG | $30,000,000 | $29,957,889 | $23,952,457 | $420 | Refinance | Simon Property Group, L.P. | Simon Property Group, L.P. |
8 | Loan | Walgreens Portfolio V | 4.4% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $26,635,694 | $26,635,694 | $26,635,694 | $225 | Acquisition | CF Real Estate Holdings, LLC | CF Real Estate Holdings, LLC | |
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,491,737 | $3,491,737 | $3,491,737 | $225 | ||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,328,539 | $3,328,539 | $3,328,539 | $225 | ||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $225 | ||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $225 | ||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $225 | ||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,327,266 | $3,327,266 | $3,327,266 | $225 | ||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,253,177 | $3,253,177 | $3,253,177 | $225 | ||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | Cantor Commercial Real Estate Lending, L.P. | UBSAG | $3,253,177 | $3,253,177 | $3,253,177 | $225 | ||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | UBSAG | UBSAG | $25,500,000 | $25,466,958 | $20,675,725 | $279 | Refinance | Firoz Lalji; Altaf Habib Jiwani | Firoz Lalji; Altaf Habib Jiwani |
10 | (27) | Loan | Greenwich Office Park | 4.1% | Natixis | Natixis | $25,000,000 | $25,000,000 | $25,000,000 | $230 | Acquisition | John J. Fareri | John J. Fareri |
11 | Loan | Great Falls Marketplace | 3.4% | UBSAG | UBSAG | $20,750,000 | $20,750,000 | $17,546,307 | $97 | Refinance | Kenneth Yaklin; Mark Macek; Richard Sanchez; Martin J. Roe | Kenneth Yaklin; Mark Macek; Richard Sanchez; Martin J. Roe | |
12 | (27) | Loan | MY Portfolio | 3.3% | UBSAG | UBSAG | $20,000,000 | $19,935,183 | $14,936,714 | $59,686 | Refinance | Suresh M. Patel; Michael Desai; Yogesh Patel | Suresh M. Patel; Michael Desai; Yogesh Patel |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | UBSAG | UBSAG | $3,958,333 | $3,945,505 | $2,956,225 | $59,686 | ||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | UBSAG | UBSAG | $3,500,000 | $3,488,657 | $2,613,925 | $59,686 | ||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | UBSAG | UBSAG | $3,333,333 | $3,322,531 | $2,489,452 | $59,686 | ||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | UBSAG | UBSAG | $3,250,000 | $3,239,467 | $2,427,216 | $59,686 | ||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | UBSAG | UBSAG | $3,041,667 | $3,031,809 | $2,271,625 | $59,686 | ||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | UBSAG | UBSAG | $2,916,667 | $2,907,214 | $2,178,271 | $59,686 | ||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | UBSAG | UBSAG | $15,000,000 | $15,000,000 | $15,000,000 | $2,604 | Refinance | Robert Siegel | Robert Siegel |
14 | Loan | Courtyard Cromwell | 2.3% | Natixis | Natixis | $14,000,000 | $13,963,233 | $11,231,573 | $96,298 | Refinance | Slavik Suites, Inc.; IRNM Hotel Investors, L.L.C. | Slavik Suites, Inc.; IRNM Hotel Investors, L.L.C. | |
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | Natixis | Natixis | $13,550,000 | $13,550,000 | $13,550,000 | $134 | Refinance | Lenora J. Petrarca | Lenora J. Petrarca | |
16 | Loan | Shelby Air Park | 2.1% | Natixis | Natixis | $12,861,000 | $12,861,000 | $10,889,044 | $13 | Acquisition | James A. Diamond and William E. Diamond | James A. Diamond and William E. Diamond | |
17 | Loan | Vinings Village | 1.8% | Pillar | Column Financial, Inc. | $11,050,000 | $11,050,000 | $9,760,788 | $179 | Refinance | M & J Wilkow, Ltd. | M & J Wilkow, Ltd. | |
18 | Loan | Best Western O’Hare | 1.6% | Natixis | Natixis | $9,500,000 | $9,489,405 | $7,909,424 | $67,301 | Refinance | Suresh Anandani and Kunal H. Dave | Suresh Anandani and Kunal H. Dave | |
19 | Loan | Fedex Plaza | 1.4% | Natixis | Natixis | $8,750,000 | $8,750,000 | $7,576,397 | $325 | Refinance | Harvey Schultz; Steven Schultz; Jonathan Schultz | Harvey Schultz; Steven Schultz; Jonathan Schultz | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | Column Financial, Inc. | Column Financial, Inc. | $7,900,000 | $7,900,000 | $6,912,237 | $13,644 | Acquisition | Robert Moser; Robert Morgan | Robert Moser; Robert Morgan | |
21 | Loan | The Storage Depot-Westville | 1.3% | Column Financial, Inc. | Column Financial, Inc. | $7,800,000 | $7,800,000 | $6,824,740 | $10,924 | Acquisition | Robert Moser; Robert Morgan | Robert Moser; Robert Morgan | |
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | Pillar | Column Financial, Inc. | $7,750,000 | $7,750,000 | $6,944,645 | $58 | Acquisition | Michael Brennan; Troy MacMane | Michael Brennan; Troy MacMane | |
22.01 | Property | 8600-8850 Jameel Road | 0.8% | Pillar | Column Financial, Inc. | $4,726,156 | $4,726,156 | $4,235,029 | $58 | ||||
22.02 | Property | Kirkwood Center | 0.5% | Pillar | Column Financial, Inc. | $3,023,844 | $3,023,844 | $2,709,616 | $58 | ||||
23 | Loan | Cobblestone Village | 1.2% | UBSAG | UBSAG | $7,450,000 | $7,450,000 | $6,184,761 | $76 | Acquisition | Steven Froese; Roy Wiebe | Steven Froese; Roy Wiebe | |
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | Natixis | Natixis | $6,625,000 | $6,625,000 | $5,460,245 | $45,377 | Refinance | Rajesh Patel | Rajesh Patel | |
25 | Loan | The Charles Hotel | 1.1% | Natixis | Natixis | $6,623,000 | $6,605,744 | $5,320,792 | $49,667 | Refinance | Atit Jariwala | Atit Jariwala | |
26 | Loan | Wilmington Industrial Park | 1.1% | UBSAG | UBSAG | $6,400,000 | $6,400,000 | $6,400,000 | $12 | Acquisition | Samuel I. Kirschenbaum; Benjamin B. Rubin | Samuel I. Kirschenbaum; Benjamin B. Rubin | |
27 | Loan | Windmill Lakes Center | 1.0% | Natixis | Natixis | $6,200,000 | $6,200,000 | $5,493,530 | $87 | Refinance | Marshall N. Dickler, Larry P. Kanar | Marshall N. Dickler, Larry P. Kanar | |
28 | Loan | Best Western Salt Lake City | 1.0% | Natixis | Natixis | $6,075,000 | $6,075,000 | $5,039,127 | $75,000 | Refinance | Tushar Patel and Muljibhai Chaudhari | Tushar Patel and Muljibhai Chaudhari | |
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | Column Financial, Inc. | Column Financial, Inc. | $4,620,000 | $4,620,000 | $3,837,200 | $395 | Refinance | Rong Ge Friedman | Rong Ge Friedman | |
30 | Loan | Northridge Palm Apartment | 0.6% | Natixis | Natixis | $3,460,250 | $3,460,250 | $3,030,551 | $96,118 | Refinance | Pinkal Jogani and Hansa Investments, Inc. | Pinkal Jogani and Hansa Investments, Inc. | |
31 | Loan | Best Western Battleground | 0.6% | Natixis | Natixis | $3,409,000 | $3,409,000 | $2,670,283 | $74,109 | Refinance | Divyesh B. Desai; Parth A. Patel | Divyesh B. Desai; Parth A. Patel | |
32 | Loan | Oak Court Apartments | 0.5% | Natixis | Natixis | $2,940,000 | $2,940,000 | $2,470,676 | $98,000 | Refinance | Shangxuan Tan | Shangxuan Tan | |
33 | Loan | Colonial Terrace | 0.4% | Natixis | Natixis | $2,322,738 | $2,311,065 | $1,879,045 | $45,315 | Refinance | Pinkal Jogani and Hansa Investments, Inc. | Pinkal Jogani and Hansa Investments, Inc. |
A-1-1 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGED PROPERTY CHARACTERISTICS | ||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | No. of Properties | General Property Type | Detailed Property Type | Title Type(5) | Ground Lease Initial Lease Expiration Date(5) | Address | City | County | State | Zip Code | Year Built | |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | 1 | Office | Suburban | Fee | 800 Scudders Mill Road | Plainsboro | Middlesex | NJ | 08536 | 1985 | ||
2 | (27) | Loan | Rentar Plaza | 9.9% | 1 | Mixed Use | Office/Retail/Warehouse | Fee | 66-26 Metropolitan Avenue | Middle Village | Queens | NY | 11379 | 1974 | ||
3 | (27) | Loan | Gurnee Mills | 9.9% | 1 | Retail | Regional Mall | Fee | 6170 West Grand Avenue | Gurnee | Lake | IL | 60031 | 1991 | ||
4 | (27) | Loan | QLIC | 8.2% | 1 | Multifamily | High-Rise | Fee | 41-42 24th Street | Long Island City | Queens | NY | 11101 | 2015 | ||
5 | Loan | Walgreens Portfolio I | 5.4% | 9 | Retail | Single Tenant | Fee | Various | Various | Various | Various | Various | Various | |||
5.01 | Property | Walgreens - Midland, TX | 0.8% | 1 | Retail | Single Tenant | Fee | 215 Andrews Highway | Midland | Midland | TX | 79701 | 2000 | |||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 1 | Retail | Single Tenant | Fee | 1160 South Business IH-35 | New Braunfels | Comal | TX | 78130 | 2001 | |||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 1 | Retail | Single Tenant | Fee | 4415 North State Line Avenue | Texarkana | Bowie | TX | 75503 | 2000 | |||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 1 | Retail | Single Tenant | Fee | 2612 South College Avenue | Fort Collins | Larimer | CO | 80525 | 2005 | |||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 1 | Retail | Single Tenant | Fee | 7392 McLaughlin Road | Falcon | El Paso | CO | 80831 | 2005 | |||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 1 | Retail | Single Tenant | Fee | 2501 61st Street | Galveston | Galveston | TX | 77551 | 2004 | |||
5.07 | Property | Walgreens - New London, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 981 Shawano Street | New London | Waupaca | WI | 54961 | 2007 | |||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 1133 North Johns Street | Dodgeville | Iowa | WI | 53533 | 2007 | |||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 1 | Retail | Single Tenant | Fee | 1000 East Central Texas Expressway | Killeen | Bell | TX | 76541 | 2008 | |||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | 1 | Hotel | Full Service | Fee | 20001 Northwest Tanasbourne Drive | Hillsboro | Washington | OR | 97124 | 2014 | |||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | 1 | Retail | Regional Mall | Fee | 2760 North Germantown Parkway | Memphis | Shelby | TN | 38133 | 1997 | ||
8 | Loan | Walgreens Portfolio V | 4.4% | 8 | Retail | Single Tenant | Fee | Various | Various | Various | Various | Various | Various | |||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 1 | Retail | Single Tenant | Fee | 1745 East Southern Avenue | Tempe | Maricopa | AZ | 85282 | 2004 | |||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 1 | Retail | Single Tenant | Fee | 2304 East Lincolnway | Cheyenne | Laramie | WY | 82001 | 2000 | |||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 939 North Wisconsin Street | Elkhorn | Walworth | WI | 53121 | 2008 | |||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 1740 Center Avenue | Janesville | Rock | WI | 53546 | 2007 | |||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 607 Park Avenue | Beaver Dam | Dodge | WI | 53916 | 2007 | |||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 2702 Calumet Drive | Sheboygan | Sheboygan | WI | 53083 | 2008 | |||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 101 Center Avenue | Merrill | Lincoln | WI | 54452 | 2007 | |||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 1 | Retail | Single Tenant | Fee | 3301 Church Street | Stevens Point | Portage | WI | 54481 | 2007 | |||
9 | (27) | Loan | Federal Way Crossings | 4.2% | 1 | Retail | Anchored | Fee | 35009 Enchanted Parkway South | Federal Way | King | WA | 98003 | 2006-2007 | ||
10 | (27) | Loan | Greenwich Office Park | 4.1% | 1 | Office | Suburban | Fee & Leasehold | Building 8: 5/31/2076; Building 9: 9/8/2076 | 51 Weaver Street, 18 Valley Drive and West Putnam Avenue | Greenwich | Fairfield | CT | 06831 | 1970, 1972-1976, 1978 | |
11 | Loan | Great Falls Marketplace | 3.4% | 1 | Retail | Anchored | Fee | 1601 Market Place Drive | Great Falls | Cascade | MT | 59404 | 1997 | |||
12 | (27) | Loan | MY Portfolio | 3.3% | 6 | Hotel | Various | Fee | Various | Various | Various | Various | Various | Various | ||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | 1 | Hotel | Limited Service | Fee | 69354 Stirling Boulevard | Covington | Saint Tammany | LA | 70433 | 2014 | |||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | 1 | Hotel | Select Service | Fee | 115 Cypress Centre Drive | Vicksburg | Warren | MS | 39180 | 2008 | |||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | 1 | Hotel | Limited Service | Fee | 7049 Bullard Avenue | New Orleans | Orleans | LA | 70128 | 2006 | |||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | 1 | Hotel | Limited Service | Fee | 2821 West Cabela Parkway | Gonzales | Ascension | LA | 70737 | 2013 | |||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | 1 | Hotel | Limited Service | Fee | 4160 South Frontage Road | Vicksburg | Warren | MS | 39180 | 2008 | |||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | 1 | Hotel | Extended Stay | Fee | 100 Holiday Boulevard | Slidell | Saint Tammany | LA | 70460 | 2011 | |||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | 1 | Mixed Use | Retail/Office | Fee | 681 Fifth Avenue | New York | New York | NY | 10022 | 1913 | ||
14 | Loan | Courtyard Cromwell | 2.3% | 1 | Hotel | Select Service | Fee | 4 Sebethe Drive | Cromwell | Middlesex | CT | 06416 | 1986 | |||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | 1 | Office | Suburban | Fee | 367 Ghent Road | Akron | Summit | OH | 44333 | 1990 | |||
16 | Loan | Shelby Air Park | 2.1% | 1 | Industrial | Warehouse | Fee | 4500 Malone Road; 4570 Shelby Air Park Drive; 4650 Shelby Air Park Drive; 4500 Atlantic Way; 4350 East Shelby Drive; 4770 Malone Road | Memphis | Shelby | TN | 38118 | 1987-1994 | |||
17 | Loan | Vinings Village | 1.8% | 1 | Retail | Anchored | Fee | 4715 South Atlanta Road | Smyrna | Cobb | GA | 30080 | 2003 | |||
18 | Loan | Best Western O’Hare | 1.6% | 1 | Hotel | Limited Service | Fee | 10300 West Higgins Road | Rosemont | Cook | IL | 60018 | 1965 | |||
19 | Loan | Fedex Plaza | 1.4% | 1 | Retail | Unanchored | Fee | 588 Route 70 | Brick Township | Ocean | NJ | 08723 | 2007 | |||
20 | Loan | The Storage Depot-Bordentown | 1.3% | 1 | Self Storage | Self Storage | Fee | 800 U.S. Route 206 | Bordentown | Burlington | NJ | 08506 | 2007; 2010 | |||
21 | Loan | The Storage Depot-Westville | 1.3% | 1 | Self Storage | Self Storage | Fee | 1071 Delsea Drive | Westville | Gloucester | NJ | 08093 | 1993-2006 | |||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | 2 | Industrial | Flex | Fee | Various | Various | Various | TX | Various | Various | |||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | 1 | Industrial | Flex | Fee | 8600, 8700, 8800 & 8850 Jameel Road | Houston | Harris | TX | 77040 | 1980 | |||
22.02 | Property | Kirkwood Center | 0.5% | 1 | Industrial | Flex | Fee | 12705 South Kirkwood Road | Stafford | Fort Bend | TX | 77477 | 1984 | |||
23 | Loan | Cobblestone Village | 1.2% | 1 | Retail | Anchored | Fee | 1721 East Warner Road | Tempe | Maricopa | AZ | 85284 | 1986 | |||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | 1 | Hotel | Limited Service | Fee | 301 North Central Avenue | Hapeville | Fulton | GA | 30354 | 1971 | |||
25 | Loan | The Charles Hotel | 1.1% | 1 | Hotel | Limited Service | Fee | 1425 South 5th Street | Saint Charles | St. Charles | MO | 63301 | 1966 | |||
26 | Loan | Wilmington Industrial Park | 1.1% | 1 | Industrial | Warehouse/Distribution | Fee | 3336, 3260 and 3188 Progress Way | Wilmington | Clinton | OH | 45177 | 1996, 1999, 2000 | |||
27 | Loan | Windmill Lakes Center | 1.0% | 1 | Retail | Anchored | Fee | 3-87 North Randall Road | Batavia | Kane | IL | 60510 | 1994 | |||
28 | Loan | Best Western Salt Lake City | 1.0% | 1 | Hotel | Limited Service | Fee | 5433 West Wiley Post Way | Salt Lake City | Salt Lake | UT | 84116 | 2012 | |||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | 1 | Mixed Use | Retail/Residential | Fee | 534 Flatbush Avenue | Brooklyn | Kings | NY | 11225 | 1931 | |||
30 | Loan | Northridge Palm Apartment | 0.6% | 1 | Multifamily | Garden | Fee | 8651 Wilbur Avenue | Los Angeles | Los Angeles | CA | 91324 | 1980 | |||
31 | Loan | Best Western Battleground | 0.6% | 1 | Hotel | Limited Service | Fee | 1419 West Main Street | Battle Ground | Clark | WA | 98604 | 2007 | |||
32 | Loan | Oak Court Apartments | 0.5% | 1 | Multifamily | Multifamily/Retail | Fee | 245-251 South Kerr Avenue | Wilmington | New Hanover | NC | 28403 | 1968, 2014 | |||
33 | Loan | Colonial Terrace | 0.4% | 1 | Multifamily | Garden | Fee | 38719 & 38729 10th Street East | Palmdale | Los Angeles | CA | 93550 | 1986 |
A-1-2 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGED PROPERTY CHARACTERISTICS | MORTGAGE LOAN CHARACTERISTICS | |||||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Year Renovated | Net Rentable Area SF/Units/Acres/ Rooms/Pads | Units of Measure | Occupancy Rate(6) | Occupancy Rate As-of Date | Appraised Value | Appraisal As-of Date | Mortgage Rate | Administrative Fee Rate(7) | Subservicing Fee Rate(7) | Master Servicing Fee Rate(7) | Pari Passu Loan Primary Servicing Fee Rate(7) | Trustee Fee Rate(7) | Operating Advisor Fee Rate(7) | Asset Representations Review Fee(7) | |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | 2013 | 761,824 | Square Feet | 78.0% | 11/1/2016 | $319,900,000 | 6/1/2016 | 3.4820% | 0.02243% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00541% | 0.00082% | |
2 | (27) | Loan | Rentar Plaza | 9.9% | 1,567,208 | Square Feet | 100.0% | 8/1/2016 | $300,000,000 | 7/19/2016 | 3.4820% | 0.02243% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00541% | 0.00082% | ||
3 | (27) | Loan | Gurnee Mills | 9.9% | 2014 | 1,683,915 | Square Feet | 91.1% | 9/22/2016 | $417,000,000 | 8/23/2016 | 3.9900% | 0.01702% | 0.00250% | 0.00250% | 0.00000% | 0.01070% | 0.00000% | 0.00082% | |
4 | (27) | Loan | QLIC | 8.2% | 421 | Units | 100.0% | 10/1/2016 | $255,000,000 | 8/18/2016 | 4.3997% | 0.01702% | 0.00250% | 0.00250% | 0.00000% | 0.01070% | 0.00000% | 0.00082% | ||
5 | Loan | Walgreens Portfolio I | 5.4% | 140,635 | Square Feet | 100.0% | 12/1/2016 | $57,130,000 | Various | 4.5930% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
5.01 | Property | Walgreens - Midland, TX | 0.8% | 21,700 | Square Feet | 100.0% | 12/1/2016 | $8,320,000 | 9/25/2016 | |||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 15,120 | Square Feet | 100.0% | 12/1/2016 | $6,620,000 | 9/25/2016 | |||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 15,070 | Square Feet | 100.0% | 12/1/2016 | $5,780,000 | 9/25/2016 | |||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 14,975 | Square Feet | 100.0% | 12/1/2016 | $6,260,000 | 9/25/2016 | |||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $6,200,000 | 9/27/2016 | |||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $6,200,000 | 9/30/2016 | |||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/26/2016 | |||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/27/2016 | |||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 14,490 | Square Feet | 100.0% | 12/1/2016 | $5,930,000 | 9/25/2016 | |||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | 165 | Rooms | 83.6% | 9/30/2016 | $52,500,000 | 10/12/2016 | 5.0820% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | 391,862 | Square Feet | 90.1% | 9/28/2016 | $254,000,000 | 9/26/2016 | 4.1460% | 0.01702% | 0.00250% | 0.00250% | 0.00000% | 0.01070% | 0.00000% | 0.00082% | ||
8 | Loan | Walgreens Portfolio V | 4.4% | 118,200 | Square Feet | 100.0% | 12/1/2016 | $47,330,000 | Various | 4.5930% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $6,500,000 | 9/26/2016 | |||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 15,120 | Square Feet | 100.0% | 12/1/2016 | $5,650,000 | 9/25/2016 | |||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/27/2016 | |||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/25/2016 | |||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/26/2016 | |||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 14,820 | Square Feet | 100.0% | 12/1/2016 | $5,910,000 | 9/29/2016 | |||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 14,490 | Square Feet | 100.0% | 12/1/2016 | $5,770,000 | 9/27/2016 | |||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 14,490 | Square Feet | 100.0% | 12/1/2016 | $5,770,000 | 9/25/2016 | |||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | 207,686 | Square Feet | 98.7% | 8/1/2016 | $83,100,000 | 8/17/2016 | 4.5888% | 0.01702% | 0.00250% | 0.00250% | 0.00000% | 0.01070% | 0.00000% | 0.00082% | ||
10 | (27) | Loan | Greenwich Office Park | 4.1% | 2010-2016 | 379,861 | Square Feet | 82.9% | 9/30/2016 | $134,000,000 | 9/6/2016 | 4.5540% | 0.02468% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00766% | 0.00082% | |
11 | Loan | Great Falls Marketplace | 3.4% | 214,951 | Square Feet | 99.3% | 10/31/2016 | $33,300,000 | 9/12/2016 | 5.9070% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
12 | (27) | Loan | MY Portfolio | 3.3% | Various | 501 | Rooms | 64.6% | 8/31/2016 | $48,000,000 | Various | 4.9720% | 0.02578% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00876% | 0.00082% | |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | 84 | Rooms | 62.7% | 8/31/2016 | $9,500,000 | 7/14/2016 | |||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | 2011-2012, 2015 | 83 | Rooms | 72.5% | 8/31/2016 | $8,400,000 | 7/13/2016 | ||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | 2013 | 87 | Rooms | 55.3% | 8/31/2016 | $8,700,000 | 7/14/2016 | ||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | 77 | Rooms | 69.0% | 8/31/2016 | $7,400,000 | 7/13/2016 | |||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | 77 | Rooms | 69.5% | 8/31/2016 | $7,000,000 | 7/13/2016 | |||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | 93 | Rooms | 60.0% | 8/31/2016 | $7,000,000 | 7/14/2016 | |||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | 2009 | 82,573 | Square Feet | 90.8% | 9/30/2016 | $440,000,000 | 10/1/2016 | 4.1265% | 0.01702% | 0.00250% | 0.00250% | 0.00000% | 0.01070% | 0.00000% | 0.00082% | |
14 | Loan | Courtyard Cromwell | 2.3% | 2003 | 145 | Rooms | 69.5% | 8/31/2016 | $19,100,000 | 8/11/2016 | 4.2800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | 100,890 | Square Feet | 100.0% | 12/5/2016 | $22,600,000 | 8/8/2016 | 4.2900% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
16 | Loan | Shelby Air Park | 2.1% | 993,800 | Square Feet | 83.6% | 9/30/2016 | $20,000,000 | 9/1/2016 | 4.1800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
17 | Loan | Vinings Village | 1.8% | 61,573 | Square Feet | 95.6% | 9/1/2016 | $15,500,000 | 9/27/2016 | 4.9000% | 0.06826% | 0.05000% | 0.00250% | 0.00000% | 0.01070% | 0.00374% | 0.00082% | |||
18 | Loan | Best Western O’Hare | 1.6% | 2015-2016 | 141 | Rooms | 68.4% | 9/30/2016 | $13,600,000 | 8/15/2016 | 5.4000% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
19 | Loan | Fedex Plaza | 1.4% | 26,933 | Square Feet | 100.0% | 8/26/2016 | $13,500,000 | 8/26/2016 | 4.0400% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
20 | Loan | The Storage Depot-Bordentown | 1.3% | 579 | Units | 97.6% | 9/30/2016 | $10,780,000 | 9/28/2016 | 4.4800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
21 | Loan | The Storage Depot-Westville | 1.3% | 714 | Units | 86.8% | 9/30/2016 | $10,480,000 | 9/28/2016 | 4.4800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | 132,997 | Square Feet | 88.4% | 10/4/2016 | $10,380,000 | 9/8/2015 | 4.5200% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | 87,099 | Square Feet | 82.4% | 10/4/2016 | $6,330,000 | 9/8/2015 | |||||||||||
22.02 | Property | Kirkwood Center | 0.5% | 45,898 | Square Feet | 100.0% | 10/4/2016 | $4,050,000 | 9/8/2015 | |||||||||||
23 | Loan | Cobblestone Village | 1.2% | 2014 | 97,915 | Square Feet | 83.9% | 11/9/2016 | $11,570,000 | 10/17/2016 | 5.3060% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | 2014, 2015 | 146 | Rooms | 67.9% | 8/31/2016 | $10,900,000 | 9/19/2016 | 5.0800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
25 | Loan | The Charles Hotel | 1.1% | 2013 | 133 | Rooms | 77.8% | 6/30/2016 | $10,800,000 | 8/7/2016 | 4.3200% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
26 | Loan | Wilmington Industrial Park | 1.1% | 526,019 | Square Feet | 100.0% | 9/15/2016 | $13,200,000 | 9/20/2016 | 4.9880% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
27 | Loan | Windmill Lakes Center | 1.0% | 70,949 | Square Feet | 89.1% | 7/12/2016 | $10,500,000 | 6/22/2016 | 5.9900% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
28 | Loan | Best Western Salt Lake City | 1.0% | 81 | Rooms | 71.0% | 9/30/2016 | $9,500,000 | 9/19/2016 | 5.2800% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | 2002 | 11,700 | Square Feet | 100.0% | 11/14/2016 | $7,700,000 | 10/5/2016 | 5.3210% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
30 | Loan | Northridge Palm Apartment | 0.6% | 36 | Units | 100.0% | 11/7/2016 | $5,500,000 | 6/10/2016 | 4.5200% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | |||
31 | Loan | Best Western Battleground | 0.6% | 2013-2015 | 46 | Rooms | 71.0% | 7/31/2016 | $5,140,000 | 2/22/2016 | 6.3500% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
32 | Loan | Oak Court Apartments | 0.5% | 2006-2014 | 30 | Units | 90.0% | 11/9/2016 | $4,680,000 | 8/28/2016 | 5.7000% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% | ||
33 | Loan | Colonial Terrace | 0.4% | 51 | Units | 98.0% | 11/7/2016 | $3,950,000 | 6/10/2016 | 4.5200% | 0.02076% | 0.00000% | 0.00250% | 0.00250% | 0.01070% | 0.00374% | 0.00082% |
A-1-3 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN CHARACTERISTICS | ||||||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | CREFC Fee Rate(7) | Interest Accrual Basis | Seasoning (mos.) | ARD (Yes/No) (8) | Original Term to Maturity (mos.) | Remaining Term to Maturity (mos.)(8) | Original Interest-Only Period (mos.) | Remaining Interest-Only Period (mos.) | Original Amortization Term (mos.) | Remaining Amortization Term (mos.) | Note Date | First Payment Date | First P&I Payment Date (Partial IO Loans) | Maturity Date | ARD Loan Stated Maturity Date (8) | Monthly Debt Service (P&I) |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | 0.00050% | Actual/360 | 3 | Yes | 60 | 57 | 60 | 57 | 0 | 0 | 8/11/2016 | 10/5/2016 | NAP | 4/30/2031 | 9/5/2021 | $176,518.06 |
2 | (27) | Loan | Rentar Plaza | 9.9% | 0.00050% | Actual/360 | 3 | No | 120 | 117 | 120 | 117 | 0 | 0 | 8/31/2016 | 10/5/2016 | NAP | 9/5/2026 | 9/5/2026 | $176,518.06 |
3 | (27) | Loan | Gurnee Mills | 9.9% | 0.00050% | Actual/360 | 2 | No | 120 | 118 | 0 | 0 | 360 | 358 | 9/27/2016 | 11/1/2016 | NAP | 10/1/2026 | 10/1/2026 | $286,103.38 |
4 | (27) | Loan | QLIC | 8.2% | 0.00050% | Actual/360 | 11 | No | 120 | 109 | 120 | 109 | 0 | 0 | 12/28/2015 | 2/5/2016 | NAP | 1/5/2026 | 1/5/2026 | $185,866.96 |
5 | Loan | Walgreens Portfolio I | 5.4% | 0.00050% | Actual/360 | 0 | Yes | 120 | 120 | 120 | 120 | 0 | 0 | 11/15/2016 | 1/1/2017 | NAP | 12/1/2031 | 12/1/2026 | $126,439.27 | |
5.01 | Property | Walgreens - Midland, TX | 0.8% | |||||||||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | |||||||||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | |||||||||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | |||||||||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | |||||||||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | |||||||||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | |||||||||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | |||||||||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | |||||||||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 0 | 0 | 360 | 359 | 11/10/2016 | 12/6/2016 | NAP | 11/6/2026 | 11/6/2026 | $176,099.39 | |
7 | (27) | Loan | Wolfchase Galleria | 4.9% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 0 | 0 | 360 | 359 | 10/26/2016 | 12/1/2016 | NAP | 11/1/2026 | 11/1/2026 | $145,761.18 |
8 | Loan | Walgreens Portfolio V | 4.4% | 0.00050% | Actual/360 | 0 | Yes | 120 | 120 | 120 | 120 | 0 | 0 | 11/15/2016 | 1/1/2017 | NAP | 12/1/2031 | 12/1/2026 | $103,364.06 | |
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | |||||||||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | |||||||||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | |||||||||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | |||||||||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | |||||||||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | |||||||||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | |||||||||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | |||||||||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 0 | 0 | 360 | 359 | 10/28/2016 | 12/6/2016 | NAP | 11/6/2026 | 11/6/2026 | $130,553.69 |
10 | (27) | Loan | Greenwich Office Park | 4.1% | 0.00050% | Actual/360 | 1 | No | 60 | 59 | 60 | 59 | 0 | 0 | 11/4/2016 | 12/5/2016 | NAP | 11/5/2021 | 11/5/2021 | $96,192.71 |
11 | Loan | Great Falls Marketplace | 3.4% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/18/2016 | 1/6/2017 | NAP | 12/6/2026 | 12/6/2026 | $123,168.78 | |
12 | (27) | Loan | MY Portfolio | 3.3% | 0.00050% | Actual/360 | 2 | No | 120 | 118 | 0 | 0 | 300 | 298 | 10/7/2016 | 11/6/2016 | NAP | 10/6/2026 | 10/6/2026 | $116,591.97 |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | |||||||||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | |||||||||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | |||||||||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | |||||||||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | |||||||||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | |||||||||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 120 | 119 | 0 | 0 | 11/4/2016 | 12/6/2016 | NAP | 11/6/2026 | 11/6/2026 | $52,297.66 |
14 | Loan | Courtyard Cromwell | 2.3% | 0.00050% | Actual/360 | 2 | No | 120 | 118 | 0 | 0 | 360 | 358 | 9/26/2016 | 11/5/2016 | NAP | 10/5/2026 | 10/5/2026 | $69,117.69 | |
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | 0.00050% | Actual/360 | 1 | Yes | 120 | 119 | 120 | 119 | 0 | 0 | 10/7/2016 | 12/5/2016 | NAP | 11/5/2036 | 11/5/2026 | $49,114.05 | |
16 | Loan | Shelby Air Park | 2.1% | 0.00050% | Actual/360 | 2 | No | 120 | 118 | 24 | 22 | 360 | 360 | 9/27/2016 | 11/10/2016 | 11/10/2018 | 10/10/2026 | 10/10/2026 | $62,742.46 | |
17 | Loan | Vinings Village | 1.8% | 0.00050% | Actual/360 | 12 | No | 120 | 108 | 36 | 24 | 360 | 360 | 11/10/2015 | 1/6/2016 | 1/6/2019 | 12/6/2025 | 12/6/2025 | $58,645.30 | |
18 | Loan | Best Western O’Hare | 1.6% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 0 | 0 | 360 | 359 | 10/21/2016 | 12/5/2016 | NAP | 11/5/2026 | 11/5/2026 | $53,345.43 | |
19 | Loan | Fedex Plaza | 1.4% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 36 | 35 | 360 | 360 | 10/7/2016 | 12/5/2016 | 12/5/2019 | 11/5/2026 | 11/5/2026 | $41,975.87 | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 36 | 35 | 360 | 360 | 11/3/2016 | 12/6/2016 | 12/6/2019 | 11/6/2026 | 11/6/2026 | $39,934.31 | |
21 | Loan | The Storage Depot-Westville | 1.3% | 0.00050% | Actual/360 | 1 | No | 120 | 119 | 36 | 35 | 360 | 360 | 11/3/2016 | 12/6/2016 | 12/6/2019 | 11/6/2026 | 11/6/2026 | $39,428.82 | |
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | 0.00050% | Actual/360 | 13 | No | 120 | 107 | 48 | 35 | 360 | 360 | 10/26/2015 | 12/6/2015 | 12/6/2019 | 11/6/2025 | 11/6/2025 | $39,360.26 | |
22.01 | Property | 8600-8850 Jameel Road | 0.8% | |||||||||||||||||
22.02 | Property | Kirkwood Center | 0.5% | |||||||||||||||||
23 | Loan | Cobblestone Village | 1.2% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/30/2016 | 1/6/2017 | NAP | 12/6/2026 | 12/6/2026 | $41,397.96 | |
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/9/2016 | 1/5/2017 | NAP | 12/5/2026 | 12/5/2026 | $35,889.05 | |
25 | Loan | The Charles Hotel | 1.1% | 0.00050% | Actual/360 | 2 | No | 120 | 118 | 0 | 0 | 360 | 358 | 9/23/2016 | 11/5/2016 | NAP | 10/5/2026 | 10/5/2026 | $32,853.16 | |
26 | Loan | Wilmington Industrial Park | 1.1% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 120 | 120 | 0 | 0 | 11/15/2016 | 1/6/2017 | NAP | 12/6/2026 | 12/6/2026 | $26,972.15 | |
27 | Loan | Windmill Lakes Center | 1.0% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 24 | 24 | 360 | 360 | 11/30/2016 | 1/5/2017 | 1/5/2019 | 12/5/2026 | 12/5/2026 | $37,132.28 | |
28 | Loan | Best Western Salt Lake City | 1.0% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/9/2016 | 1/5/2017 | NAP | 12/5/2026 | 12/5/2026 | $33,659.35 | |
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/29/2016 | 1/6/2017 | NAP | 12/6/2026 | 12/6/2026 | $25,715.36 | |
30 | Loan | Northridge Palm Apartment | 0.6% | 0.00050% | Actual/360 | 4 | No | 120 | 116 | 36 | 32 | 360 | 360 | 8/5/2016 | 9/5/2016 | 9/5/2019 | 8/5/2026 | 8/5/2026 | $17,573.72 | |
31 | Loan | Best Western Battleground | 0.6% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 300 | 300 | 11/29/2016 | 1/5/2017 | NAP | 12/5/2026 | 12/5/2026 | $22,699.31 | |
32 | Loan | Oak Court Apartments | 0.5% | 0.00050% | Actual/360 | 0 | No | 120 | 120 | 0 | 0 | 360 | 360 | 11/15/2016 | 1/5/2017 | NAP | 12/5/2026 | 12/5/2026 | $17,063.77 | |
33 | Loan | Colonial Terrace | 0.4% | 0.00050% | Actual/360 | 4 | No | 120 | 116 | 0 | 0 | 360 | 356 | 8/5/2016 | 9/5/2016 | NAP | 8/5/2026 | 8/5/2026 | $11,796.59 |
A-1-4 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN CHARACTERISTICS | ||||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Monthly Debt Service (IO)(9) | Annual Debt Service (P&I)(10) | Annual Debt Service (IO)(10) | Lockbox Type(11) | Cash Management Status | Crossed With Other Loans | Related-Borrower Loans(12) | UW NOI DSCR (P&I)(13) | UW NOI DSCR (IO) | UW NCF DSCR (P&I)(13) | UW NCF DSCR (IO) | Cut-Off Date LTV Ratio | Maturity Date LTV Ratio(8) | Grace Period to Late Charge (Days) |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | $176,518.06 | $2,118,217 | $2,118,217 | Hard | In Place | No | No | 2.98x | 2.98x | 2.97x | 2.97x | 52.6% | 52.6% | 0 |
2 | (27) | Loan | Rentar Plaza | 9.9% | $176,518.06 | $2,118,217 | $2,118,217 | Hard | Springing | No | No | 2.71x | 2.71x | 2.59x | 2.59x | 44.0% | 44.0% | 0 |
3 | (27) | Loan | Gurnee Mills | 9.9% | $3,433,241 | Hard, Springing for Master Lease | Springing | No | Column/UBSAG - A | 1.70x | 1.60x | 65.8% | 52.4% | 0 | ||||
4 | (27) | Loan | QLIC | 8.2% | $185,866.96 | $2,230,403 | $2,230,403 | Commercial Units: Hard; Residential Units: Soft | Springing | No | No | 1.85x | 1.85x | 1.84x | 1.84x | 56.9% | 56.9% | 5 |
5 | Loan | Walgreens Portfolio I | 5.4% | $126,439.27 | $1,517,271 | $1,517,271 | Hard | In Place | No | UBSAG - A | 2.08x | 2.08x | 2.07x | 2.07x | 57.0% | 57.0% | 5 | |
5.01 | Property | Walgreens - Midland, TX | 0.8% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 2.08x | 2.07x | 57.0% | 57.0% | |||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | $2,113,193 | Hard | Springing | No | No | 1.92x | 1.74x | 61.8% | 51.0% | 0 | |||||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | $1,749,134 | Hard, Springing for Master Lease | Springing | No | Column/UBSAG - A | 1.84x | 1.72x | 64.9% | 51.9% | 0 | ||||
8 | Loan | Walgreens Portfolio V | 4.4% | $103,364.06 | $1,240,369 | $1,240,369 | Hard | In Place | No | UBSAG - A | 2.08x | 2.08x | 2.07x | 2.07x | 56.3% | 56.3% | 5 | |
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 2.08x | 2.07x | 56.3% | 56.3% | |||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | $1,566,644 | Springing | Springing | No | No | 1.41x | 1.36x | 69.7% | 56.6% | 0 | ||||
10 | (27) | Loan | Greenwich Office Park | 4.1% | $96,192.71 | $1,154,313 | $1,154,313 | Hard | In Place | No | No | 2.10x | 2.10x | 1.94x | 1.94x | 65.3% | 65.3% | 0 |
11 | Loan | Great Falls Marketplace | 3.4% | $1,478,025 | Hard | Springing | No | No | 1.51x | 1.44x | 62.3% | 52.7% | 0 | |||||
12 | (27) | Loan | MY Portfolio | 3.3% | $1,399,104 | Hard | Springing | No | No | 2.15x | 1.93x | 62.3% | 46.7% | 0 | ||||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | 2.15x | 1.93x | 62.3% | 46.7% | |||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $52,297.66 | $627,572 | $627,572 | Hard | In Place | No | No | 1.73x | 1.73x | 1.67x | 1.67x | 48.9% | 48.9% | 3 |
14 | Loan | Courtyard Cromwell | 2.3% | $829,412 | Springing | Springing | No | No | 2.12x | 1.83x | 73.1% | 58.8% | 0 | |||||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | $49,114.05 | $589,369 | $589,369 | Hard | Springing | No | No | 2.04x | 2.04x | 2.00x | 2.00x | 60.0% | 60.0% | 0 | |
16 | Loan | Shelby Air Park | 2.1% | $45,421.36 | $752,910 | $545,056 | Hard | Springing | No | No | 1.80x | 2.49x | 1.41x | 1.95x | 64.3% | 54.4% | 0 | |
17 | Loan | Vinings Village | 1.8% | $45,747.51 | $703,744 | $548,970 | Hard | Springing | No | No | 1.31x | 1.68x | 1.26x | 1.62x | 71.3% | 63.0% | 0 | |
18 | Loan | Best Western O’Hare | 1.6% | $640,145 | Hard | Springing | No | No | 2.02x | 1.82x | 69.8% | 58.2% | 0 | |||||
19 | Loan | Fedex Plaza | 1.4% | $29,867.48 | $503,710 | $358,410 | Hard | Springing | No | No | 1.69x | 2.37x | 1.64x | 2.30x | 64.8% | 56.1% | 0 | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | $29,902.96 | $479,212 | $358,836 | Springing | Springing | No | Column - A | 1.46x | 1.95x | 1.45x | 1.93x | 73.3% | 64.1% | 0 | |
21 | Loan | The Storage Depot-Westville | 1.3% | $29,524.44 | $473,146 | $354,293 | Springing | Springing | No | Column - A | 1.42x | 1.90x | 1.38x | 1.85x | 74.4% | 65.1% | 0 | |
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | $29,597.11 | $472,323 | $355,165 | Springing | Springing | No | No | 1.87x | 2.48x | 1.68x | 2.24x | 74.7% | 66.9% | 0 | |
22.01 | Property | 8600-8850 Jameel Road | 0.8% | 1.87x | 1.68x | 74.7% | 66.9% | |||||||||||
22.02 | Property | Kirkwood Center | 0.5% | 1.87x | 1.68x | 74.7% | 66.9% | |||||||||||
23 | Loan | Cobblestone Village | 1.2% | $496,776 | Springing | Springing | No | No | 1.50x | 1.40x | 64.4% | 53.5% | 0 | |||||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | $430,669 | Soft Springing | Springing | No | No | 2.26x | 1.95x | 60.8% | 50.1% | 0 | |||||
25 | Loan | The Charles Hotel | 1.1% | $394,238 | Springing | Springing | No | No | 2.40x | 1.94x | 61.2% | 49.3% | 0 | |||||
26 | Loan | Wilmington Industrial Park | 1.1% | $26,972.15 | $323,666 | $323,666 | Hard | Springing | No | No | 3.60x | 3.60x | 3.13x | 3.13x | 48.5% | 48.5% | 0 | |
27 | Loan | Windmill Lakes Center | 1.0% | $31,378.17 | $445,587 | $376,538 | Hard | Springing | No | No | 1.54x | 1.82x | 1.26x | 1.50x | 59.0% | 52.3% | 0 | |
28 | Loan | Best Western Salt Lake City | 1.0% | $403,912 | Springing | Springing | No | No | 1.97x | 1.78x | 63.9% | 53.0% | 0 | |||||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | $308,584 | Commercial Units: Hard; Residential Units: Soft | Springing | No | No | 1.38x | 1.35x | 60.0% | 49.8% | 0 | |||||
30 | Loan | Northridge Palm Apartment | 0.6% | $13,214.63 | $210,885 | $158,576 | Springing | Springing | No | Natixis - A | 1.36x | 1.80x | 1.31x | 1.75x | 62.9% | 55.1% | 0 | |
31 | Loan | Best Western Battleground | 0.6% | $272,392 | Hard | Springing | No | No | 1.98x | 1.66x | 66.3% | 52.0% | 0 | |||||
32 | Loan | Oak Court Apartments | 0.5% | $204,765 | Commercial Units: Hard; Residential Units: Soft | Springing | No | No | 1.28x | 1.21x | 62.8% | 52.8% | 0 | |||||
33 | Loan | Colonial Terrace | 0.4% | $141,559 | Springing | Springing | No | Natixis - A | 1.50x | 1.41x | 58.5% | 47.6% | 0 |
A-1-5 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN CHARACTERISTICS | MORTGAGED PROPERTY UNDERWRITTEN CASH FLOWS(16) | |||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Grace Period to Default (Days) | Due Date | Prepayment Provisions (No. of Payments)(14)(15) | Third Most Recent Revenues | Third Most Recent Expenses | Third Most Recent NOI | Third Most Recent NOI Date | Third Most Recent NOI Debt Yield | Second Most Recent Revenues | Second Most Recent Expenses | Second Most Recent NOI | Second Most Recent NOI Date | Second Most Recent NOI Debt Yield | |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | 0 | 5 | L(27), Def(30), O(3) | $24,738,338 | $10,261,687 | $14,476,650 | 2014 | 8.6% | $24,562,154 | $10,163,040 | $14,399,114 | 2015 | 8.6% | |
2 | (27) | Loan | Rentar Plaza | 9.9% | 0 | 5 | L(27), YM1 or Def(89), O(4) | $23,466,573 | $11,130,209 | $12,336,364 | 2014 | 9.3% | $24,453,413 | $11,580,671 | $12,872,742 | 2015 | 9.8% | |
3 | (27) | Loan | Gurnee Mills | 9.9% | 0 | 1 | L(26), Def(87), O(7) | $41,464,805 | $13,989,033 | $27,475,772 | 2014 | 10.0% | $41,761,447 | $13,959,485 | $27,801,962 | 2015 | 10.1% | |
4 | (27) | Loan | QLIC | 8.2% | 2- three times during the life of the loan | 5 | L(35), Def(82), O(3) | |||||||||||
5 | Loan | Walgreens Portfolio I | 5.4% | 5 | 1 | L(25), YM1(92), O(3) | ||||||||||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | |||||||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | |||||||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | |||||||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | |||||||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | |||||||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | |||||||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | |||||||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | |||||||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | |||||||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | 0 | 6 | L(25), Def(91), O(4) | $7,089,352 | $4,256,600 | $2,832,753 | 2015 | 8.7% | |||||||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | 5 | 1 | L(25), Def(88), O(7) | $25,868,069 | $8,578,260 | $17,289,809 | 2014 | 10.5% | $25,751,898 | $8,571,453 | $17,180,445 | 2015 | 10.4% | |
8 | Loan | Walgreens Portfolio V | 4.4% | 5 | 1 | L(25), YM1(92), O(3) | ||||||||||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | |||||||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | |||||||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | |||||||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | |||||||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | |||||||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | |||||||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | |||||||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | |||||||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | 0 | 6 | L(25), Def(90), O(5) | $6,568,560 | $1,712,062 | $4,856,498 | 2014 | 8.4% | $6,819,246 | $1,682,031 | $5,137,215 | 2015 | 8.9% | |
10 | (27) | Loan | Greenwich Office Park | 4.1% | 0 | 5 | L(25), Def(32), O(3) | $12,235,559 | $5,917,082 | $6,318,478 | 2014 | 7.2% | $13,283,730 | $6,628,147 | $6,655,583 | 2015 | 7.6% | |
11 | Loan | Great Falls Marketplace | 3.4% | 0 | 6 | L(24), Def(92), O(4) | $3,037,590 | $770,807 | $2,266,782 | 2014 | 10.9% | $3,022,381 | $867,241 | $2,155,140 | 2015 | 10.4% | ||
12 | (27) | Loan | MY Portfolio | 3.3% | 0 | 6 | L(26), Def(90), O(4) | $11,107,434 | $6,803,375 | $4,304,059 | 2014 | 14.4% | $11,111,196 | $6,287,637 | $4,823,559 | 2015 | 16.1% | |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | $1,476,464 | $1,039,514 | $436,950 | 2014 | $1,736,639 | $947,319 | $789,320 | 2015 | |||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | $1,807,536 | $1,136,384 | $671,152 | 2014 | $1,664,087 | $1,051,721 | $612,366 | 2015 | |||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | $2,368,156 | $1,390,100 | $978,056 | 2014 | $2,182,129 | $1,228,241 | $953,889 | 2015 | |||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | $2,000,592 | $1,044,714 | $955,878 | 2014 | $2,073,974 | $991,877 | $1,082,097 | 2015 | |||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | $1,742,836 | $1,118,788 | $624,048 | 2014 | $1,583,277 | $1,029,249 | $554,028 | 2015 | |||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | $1,711,850 | $1,073,875 | $637,975 | 2014 | $1,871,090 | $1,039,231 | $831,860 | 2015 | |||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | 0 | 6 | L(25), Def(91), O(4) | $16,950,567 | $2,815,068 | $14,135,499 | 2014 | 6.6% | $17,291,494 | $2,987,449 | $14,304,045 | 2015 | 6.7% | |
14 | Loan | Courtyard Cromwell | 2.3% | 0 | 5 | L(26), Def(90), O(4) | $5,351,133 | $3,854,059 | $1,497,074 | 2014 | 10.7% | $5,936,482 | $4,172,665 | $1,763,817 | 2015 | 12.6% | ||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | 0 | 5 | L(25), Def(91), O(4) | $1,364,033 | $36,395 | $1,327,638 | 2014 | 9.8% | $1,364,033 | $37,195 | $1,326,838 | 2015 | 9.8% | ||
16 | Loan | Shelby Air Park | 2.1% | 0 | 10 | L(26), Def(90), O(4) | $1,893,785 | $1,059,710 | $834,075 | 2014 | 6.5% | $1,798,053 | $1,034,679 | $763,374 | 2015 | 5.9% | ||
17 | Loan | Vinings Village | 1.8% | 0 | 6 | L(34), Def(82), O(4) | $1,137,025 | $314,875 | $822,150 | 2014 | 7.4% | $1,172,762 | $316,289 | $856,474 | 2015 | 7.8% | ||
18 | Loan | Best Western O’Hare | 1.6% | 0 | 5 | L(25), Def(92), O(3) | $3,398,231 | $1,738,616 | $1,659,615 | 2014 | 17.5% | $3,007,041 | $1,729,191 | $1,277,850 | 2015 | 13.5% | ||
19 | Loan | Fedex Plaza | 1.4% | 0 | 5 | L(25), Def(92), O(3) | $1,105,703 | $271,724 | $833,979 | 2014 | 9.5% | $1,122,380 | $264,439 | $857,941 | 2015 | 9.8% | ||
20 | Loan | The Storage Depot-Bordentown | 1.3% | 0 | 6 | L(36), Def(80), O(4) | $856,024 | $252,471 | $603,553 | 2014 | 7.6% | $952,035 | $260,745 | $691,290 | 2015 | 8.8% | ||
21 | Loan | The Storage Depot-Westville | 1.3% | 0 | 6 | L(36), Def(80), O(4) | $1,010,909 | $346,326 | $664,583 | 2014 | 8.5% | $1,054,026 | $353,424 | $700,602 | 2015 | 9.0% | ||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | 0 | 6 | L(35), Def(81), O(4) | $1,319,616 | $446,935 | $872,681 | 2014 | 11.3% | |||||||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | $796,817 | $299,937 | $496,880 | 2014 | |||||||||||
22.02 | Property | Kirkwood Center | 0.5% | $522,799 | $146,998 | $375,801 | 2014 | |||||||||||
23 | Loan | Cobblestone Village | 1.2% | 0 | 6 | L(24), YM1(92), O(4) | $824,148 | $263,788 | $560,360 | 2014 | 7.5% | $895,182 | $265,148 | $630,034 | 2015 | 8.5% | ||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | 0 | 5 | L(24), Def(93), O(3) | $2,812,009 | $1,989,106 | $822,903 | 2014 | 12.4% | $3,037,606 | $2,125,527 | $912,078 | 2015 | 13.8% | ||
25 | Loan | The Charles Hotel | 1.1% | 0 | 5 | L(26), Def(90), O(4) | $2,846,320 | $1,850,831 | $995,489 | 2014 | 15.1% | $3,017,483 | $1,991,045 | $1,026,439 | 2015 | 15.5% | ||
26 | Loan | Wilmington Industrial Park | 1.1% | 0 | 6 | L(24), Def(89), O(7) | $547,608 | $434,824 | $112,784 | 2014 | 1.8% | $1,041,722 | $490,400 | $551,323 | 2015 | 8.6% | ||
27 | Loan | Windmill Lakes Center | 1.0% | 0 | 5 | L(24), Def(93), O(3) | $1,093,178 | $395,110 | $698,068 | 2014 | 11.3% | $1,136,588 | $396,217 | $740,371 | 2015 | 11.9% | ||
28 | Loan | Best Western Salt Lake City | 1.0% | 0 | 5 | L(24), Def(93), O(3) | $1,456,966 | $875,729 | $581,237 | 2014 | 9.6% | $1,863,017 | $1,010,251 | $852,766 | 2015 | 14.0% | ||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | 0 | 6 | L(24), Def(92), O(4) | $491,600 | $161,062 | $330,538 | 2014 | 7.2% | $474,800 | $159,856 | $314,944 | 2015 | 6.8% | ||
30 | Loan | Northridge Palm Apartment | 0.6% | 0 | 5 | L(28), Def(89), O(3) | $429,073 | $178,402 | $250,671 | 2014 | 7.2% | $481,649 | $179,502 | $302,147 | 2015 | 8.7% | ||
31 | Loan | Best Western Battleground | 0.6% | 0 | 5 | L(24), Def(93), O(3) | $1,068,749 | $772,020 | $296,729 | 2014 | 8.7% | $1,288,796 | $823,955 | $464,841 | 2015 | 13.6% | ||
32 | Loan | Oak Court Apartments | 0.5% | 0 | 5 | L(24), Def(93), O(3) | $292,466 | $138,496 | $153,970 | 2015 | 5.2% | |||||||
33 | Loan | Colonial Terrace | 0.4% | 0 | 5 | L(28), Def(89), O(3) | $353,271 | $206,149 | $147,122 | 2014 | 6.4% | $413,183 | $225,847 | $187,336 | 2015 | 8.1% |
A-1-6 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGED PROPERTY UNDERWRITTEN CASH FLOWS(16) | |||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Most Recent Revenues | Most Recent Expenses | Most Recent NOI | Most Recent NOI Date | Most Recent NOI Debt Yield | UW Occupancy | UW EGI(17) | UW Expenses | UW NOI | UW NOI Debt Yield | UW Capital Items | UW NCF | UW NCF Debt Yield |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | $24,599,348 | $9,911,492 | $14,687,857 | T12 5/31/2016 | 8.7% | 86.2% | $29,605,904 | $11,891,591 | $17,714,312 | 10.5% | $38,091 | $17,676,221 | 10.5% |
2 | (27) | Loan | Rentar Plaza | 9.9% | $24,383,651 | $11,274,905 | $13,108,746 | T12 6/30/2016 | 9.9% | 95.0% | $24,610,323 | $11,992,475 | $12,617,848 | 9.6% | $548,523 | $12,069,325 | 9.1% |
3 | (27) | Loan | Gurnee Mills | 9.9% | $41,767,037 | $13,716,322 | $28,050,715 | T12 7/31/2016 | 10.2% | 86.6% | $40,778,955 | $14,098,029 | $26,680,926 | 9.7% | $1,581,660 | $25,099,266 | 9.2% |
4 | (27) | Loan | QLIC | 8.2% | $9,836,024 | $2,986,498 | $6,849,526 | T3 6/30/2016 Annualized | 4.7% | 94.0% | $15,370,016 | $3,384,500 | $11,985,516 | 8.3% | $102,323 | $11,883,194 | 8.2% |
5 | Loan | Walgreens Portfolio I | 5.4% | 97.0% | $3,224,889 | $64,498 | $3,160,391 | 9.7% | $21,095 | $3,139,295 | 9.6% | ||||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | 97.0% | $506,047 | $10,121 | $495,927 | 9.7% | $3,255 | $492,672 | 9.6% | ||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 97.0% | $352,601 | $7,052 | $345,549 | 9.7% | $2,268 | $343,281 | 9.6% | ||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 97.0% | $351,435 | $7,029 | $344,406 | 9.7% | $2,261 | $342,146 | 9.6% | ||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 97.0% | $349,219 | $6,984 | $342,235 | 9.7% | $2,246 | $339,989 | 9.6% | ||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 97.0% | $345,605 | $6,912 | $338,693 | 9.7% | $2,223 | $336,470 | 9.6% | ||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 97.0% | $345,605 | $6,912 | $338,693 | 9.7% | $2,223 | $336,470 | 9.6% | ||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,739 | 9.7% | $2,223 | $320,516 | 9.6% | ||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,739 | 9.7% | $2,223 | $320,516 | 9.6% | ||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 97.0% | $315,725 | $6,314 | $309,410 | 9.7% | $2,174 | $307,236 | 9.6% | ||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | $9,297,195 | $5,127,611 | $4,169,584 | T12 9/30/2016 | 12.8% | 83.6% | $9,271,793 | $5,222,256 | $4,049,537 | 12.5% | $370,872 | $3,678,666 | 11.3% | |
7 | (27) | Loan | Wolfchase Galleria | 4.9% | $26,030,970 | $8,724,355 | $17,306,615 | T12 8/31/2016 | 10.5% | 100.0% | $25,912,897 | $8,234,769 | $17,678,128 | 10.7% | $1,114,480 | $16,563,648 | 10.1% |
8 | Loan | Walgreens Portfolio V | 4.4% | 97.0% | $2,636,347 | $52,727 | $2,583,620 | 9.7% | $17,730 | $2,565,890 | 9.6% | ||||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 97.0% | $345,605 | $6,912 | $338,693 | 9.7% | $2,223 | $336,470 | 9.6% | ||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 97.0% | $329,452 | $6,589 | $322,863 | 9.7% | $2,268 | $320,595 | 9.6% | ||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,740 | 9.7% | $2,223 | $320,517 | 9.6% | ||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,740 | 9.7% | $2,223 | $320,517 | 9.6% | ||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,740 | 9.7% | $2,223 | $320,517 | 9.6% | ||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 97.0% | $329,326 | $6,587 | $322,740 | 9.7% | $2,223 | $320,517 | 9.6% | ||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 97.0% | $321,993 | $6,440 | $315,553 | 9.7% | $2,174 | $313,379 | 9.6% | ||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 97.0% | $321,993 | $6,440 | $315,553 | 9.7% | $2,174 | $313,379 | 9.6% | ||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | $6,887,181 | $1,965,141 | $4,922,040 | T12 7/31/2016 | 8.5% | 95.0% | $6,716,953 | $1,701,967 | $5,014,986 | 8.7% | $179,540 | $4,835,446 | 8.3% |
10 | (27) | Loan | Greenwich Office Park | 4.1% | $14,384,835 | $6,621,290 | $7,763,545 | T12 8/31/2016 | 8.9% | 84.4% | $15,379,150 | $6,901,235 | $8,477,914 | 9.7% | $631,356 | $7,846,559 | 9.0% |
11 | Loan | Great Falls Marketplace | 3.4% | $3,077,564 | $1,089,944 | $1,987,620 | T12 9/30/2016 | 9.6% | 95.0% | $2,985,340 | $757,387 | $2,227,953 | 10.7% | $99,467 | $2,128,485 | 10.3% | |
12 | (27) | Loan | MY Portfolio | 3.3% | $11,535,437 | $6,378,580 | $5,156,857 | T12 8/31/2016 | 17.2% | 64.6% | $11,535,437 | $7,025,514 | $4,509,923 | 15.1% | $461,417 | $4,048,506 | 13.5% |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | $1,913,245 | $1,007,208 | $906,038 | T12 8/31/2016 | 62.7% | $1,913,245 | $1,170,211 | $743,035 | 15.1% | $76,530 | $666,505 | 13.5% | ||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | $2,130,328 | $1,087,494 | $1,042,834 | T12 8/31/2016 | 72.5% | $2,130,328 | $1,208,764 | $921,563 | 15.1% | $85,213 | $836,350 | 13.5% | ||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | $2,008,675 | $1,188,487 | $820,189 | T12 8/31/2016 | 55.3% | $2,008,675 | $1,358,412 | $650,263 | 15.1% | $80,347 | $569,916 | 13.5% | ||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | $1,959,645 | $1,068,286 | $891,359 | T12 8/31/2016 | 69.0% | $1,959,645 | $1,126,569 | $833,075 | 15.1% | $78,386 | $754,690 | 13.5% | ||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | $1,821,786 | $1,029,856 | $791,930 | T12 8/31/2016 | 69.5% | $1,821,786 | $1,080,293 | $741,493 | 15.1% | $72,871 | $668,621 | 13.5% | ||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | $1,701,758 | $997,250 | $704,508 | T12 8/31/2016 | 60.0% | $1,701,758 | $1,081,264 | $620,494 | 15.1% | $68,070 | $552,423 | 13.5% | ||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $17,616,251 | $3,166,722 | $14,449,529 | T12 6/30/2016 | 6.7% | 96.0% | $20,376,202 | $4,785,552 | $15,590,650 | 7.3% | $568,517 | $15,022,133 | 7.0% |
14 | Loan | Courtyard Cromwell | 2.3% | $5,976,767 | $4,205,491 | $1,771,276 | T12 8/31/2016 | 12.7% | 69.5% | $5,960,437 | $4,204,605 | $1,755,833 | 12.6% | $238,417 | $1,517,416 | 10.9% | |
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | $1,364,028 | $37,239 | $1,326,789 | T12 6/30/2016 | 9.8% | 97.0% | $1,246,826 | $47,123 | $1,199,704 | 8.9% | $20,178 | $1,179,526 | 8.7% | |
16 | Loan | Shelby Air Park | 2.1% | $1,900,151 | $1,098,993 | $801,158 | T12 7/31/2016 | 6.2% | 85.8% | $2,518,552 | $1,159,948 | $1,358,604 | 10.6% | $298,140 | $1,060,465 | 8.2% | |
17 | Loan | Vinings Village | 1.8% | $1,167,909 | $327,848 | $840,062 | T12 7/31/2016 | 7.6% | 93.9% | $1,217,751 | $294,262 | $923,489 | 8.4% | $33,865 | $889,624 | 8.1% | |
18 | Loan | Best Western O’Hare | 1.6% | $3,214,139 | $1,795,463 | $1,418,677 | T12 9/30/2016 | 15.0% | 68.4% | $3,168,054 | $1,877,716 | $1,290,337 | 13.6% | $126,722 | $1,163,615 | 12.3% | |
19 | Loan | Fedex Plaza | 1.4% | $1,152,060 | $229,361 | $922,698 | T12 7/31/2016 | 10.5% | 95.0% | $1,120,316 | $270,290 | $850,026 | 9.7% | $26,125 | $823,901 | 9.4% | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | $978,202 | $270,441 | $707,761 | T12 8/31/2016 | 9.0% | 94.4% | $978,220 | $277,007 | $701,213 | 8.9% | $7,793 | $693,420 | 8.8% | |
21 | Loan | The Storage Depot-Westville | 1.3% | $1,098,002 | $416,754 | $681,249 | T12 8/31/2016 | 8.7% | 93.3% | $1,077,582 | $404,610 | $672,971 | 8.6% | $18,681 | $654,290 | 8.4% | |
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | $1,378,004 | $469,104 | $908,899 | T12 8/31/2016 | 11.7% | 88.9% | $1,358,669 | $476,437 | $882,231 | 11.4% | $86,448 | $795,783 | 10.3% | |
22.01 | Property | 8600-8850 Jameel Road | 0.8% | $840,795 | $334,581 | $506,214 | T12 8/31/2016 | 11.4% | 10.3% | ||||||||
22.02 | Property | Kirkwood Center | 0.5% | $537,209 | $134,523 | $402,686 | T12 8/31/2016 | 11.4% | 10.3% | ||||||||
23 | Loan | Cobblestone Village | 1.2% | $930,136 | $262,099 | $668,037 | T12 7/31/2016 | 9.0% | 78.0% | $1,036,037 | $291,038 | $744,999 | 10.0% | $50,845 | $694,154 | 9.3% | |
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | $3,397,770 | $2,262,263 | $1,135,507 | T12 8/31/2016 | 17.1% | 67.9% | $3,299,457 | $2,327,899 | $971,557 | 14.7% | $131,978 | $839,579 | 12.7% | |
25 | Loan | The Charles Hotel | 1.1% | $3,017,866 | $2,065,394 | $952,472 | T12 6/30/2016 | 14.4% | 77.8% | $3,009,817 | $2,062,848 | $946,969 | 14.3% | $180,589 | $766,379 | 11.6% | |
26 | Loan | Wilmington Industrial Park | 1.1% | $1,600,987 | $578,256 | $1,022,730 | T12 10/31/2016 | 16.0% | 93.0% | $1,548,141 | $382,252 | $1,165,890 | 18.2% | $151,255 | $1,014,635 | 15.9% | |
27 | Loan | Windmill Lakes Center | 1.0% | $1,101,798 | $368,604 | $733,194 | T12 9/30/2016 | 11.8% | 85.7% | $1,064,879 | $380,406 | $684,473 | 11.0% | $121,323 | $563,151 | 9.1% | |
28 | Loan | Best Western Salt Lake City | 1.0% | $1,869,167 | $1,067,028 | $802,139 | T12 9/30/2016 | 13.2% | 71.0% | $1,864,060 | $1,069,128 | $794,932 | 13.1% | $74,562 | $720,370 | 11.9% | |
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | $601,680 | $174,067 | $427,613 | T10 10/31/2016 Annualized | 9.3% | 95.0% | $630,420 | $203,868 | $426,552 | 9.2% | $10,621 | $415,931 | 9.0% | |
30 | Loan | Northridge Palm Apartment | 0.6% | $477,700 | $182,336 | $295,364 | T12 5/31/2016 | 8.5% | 95.0% | $466,435 | $180,573 | $285,862 | 8.3% | $9,000 | $276,862 | 8.0% | |
31 | Loan | Best Western Battleground | 0.6% | $1,378,856 | $860,994 | $517,862 | T12 7/31/2016 | 15.2% | 71.0% | $1,422,562 | $883,896 | $538,667 | 15.8% | $85,354 | $453,313 | 13.3% | |
32 | Loan | Oak Court Apartments | 0.5% | $346,726 | $129,126 | $217,600 | T12 9/30/2016 | 7.4% | 91.4% | $412,262 | $149,214 | $263,048 | 8.9% | $14,308 | $248,740 | 8.5% | |
33 | Loan | Colonial Terrace | 0.4% | $436,501 | $220,308 | $216,192 | T12 5/31/2016 | 9.4% | 95.0% | $429,442 | $217,431 | $212,011 | 9.2% | $12,750 | $199,261 | 8.6% |
A-1-7 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
LARGEST TENANT INFORMATION(18)(19)(20) | 2ND LARGEST TENANT INFORMATION(18)(19)(20) | 3RD LARGEST TENANT INFORMATION(18)(19)(20) | |||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Largest Tenant | Largest Tenant Lease Expiration | Largest Tenant NSF | Largest Tenant % of NSF | 2nd Largest Tenant | 2nd Largest Tenant Lease Expiration | 2nd Largest Tenant NSF | 2nd Largest Tenant % of NSF | 3rd Largest Tenant | 3rd Largest Tenant Lease Expiration | 3rd Largest Tenant NSF | 3rd Largest Tenant % of NSF | |||
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | Novo Nordisk Inc. | 4/30/2031 | 594,009 | 78.0% | |||||||||||
2 | (27) | Loan | Rentar Plaza | 9.9% | City of New York- DS/BOE | 2/9/2021 | 516,115 | 32.9% | Middle Village Associates | 9/30/2024 | 265,000 | 16.9% | Raymour and Flanigan | 3/31/2024 | 174,000 | 11.1% | |||
3 | (27) | Loan | Gurnee Mills | 9.9% | Sears Grand | 4/30/2019 | 201,439 | 12.0% | Bass Pro Shops Outdoor World | 8/31/2018 | 137,201 | 8.1% | Macy’s | 1/31/2039 | 130,000 | 7.7% | |||
4 | (27) | Loan | QLIC | 8.2% | |||||||||||||||
5 | Loan | Walgreens Portfolio I | 5.4% | ||||||||||||||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | Walgreens | 11/30/2031 | 21,700 | 100.0% | ||||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | Walgreens | 11/30/2031 | 15,120 | 100.0% | ||||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | Walgreens | 11/30/2031 | 15,070 | 100.0% | ||||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | Walgreens | 11/30/2031 | 14,975 | 100.0% | ||||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | Walgreens | 11/30/2031 | 14,490 | 100.0% | ||||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | ||||||||||||||||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | Malco Theatres | 12/31/2021 | 30,000 | 7.7% | The Finish Line | 2/28/2022 | 21,899 | 5.6% | Victoria’s Secret | 1/31/2018 | 13,330 | 3.4% | |||
8 | Loan | Walgreens Portfolio V | 4.4% | ||||||||||||||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | Walgreens | 11/30/2031 | 15,120 | 100.0% | ||||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | Walgreens | 11/30/2031 | 14,820 | 100.0% | ||||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | Walgreens | 11/30/2031 | 14,490 | 100.0% | ||||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | Walgreens | 11/30/2031 | 14,490 | 100.0% | ||||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | Sportsman’s Warehouse | 6/30/2021 | 49,009 | 23.6% | Fitness International, LLC (LA Fitness) | 6/29/2021 | 45,000 | 21.7% | Trampoline Nation | 8/31/2018 | 18,510 | 8.9% | |||
10 | (27) | Loan | Greenwich Office Park | 4.1% | IBG LLC | 1/31/2019 | 42,196 | 11.1% | Orthopaedic & Neurological Surgery Specialists, P.C. | 7/31/2019 | 31,305 | 8.2% | Starwood Capital Operations, LLC | 2/28/2023 | 28,764 | 7.6% | |||
11 | Loan | Great Falls Marketplace | 3.4% | Smith’s Food & Drug | 3/31/2030 | 51,150 | 23.8% | Carmike Cinema | 2/28/2023 | 32,500 | 15.1% | Office Max | 12/31/2017 | 23,688 | 11.0% | ||||
12 | (27) | Loan | MY Portfolio | 3.3% | |||||||||||||||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | ||||||||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | ||||||||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | ||||||||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | ||||||||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | ||||||||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | ||||||||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | Tommy Hilfiger | 5/31/2023 | 22,510 | 27.3% | Belstaff USA | 4/4/2022 | 17,505 | 21.2% | Vera Bradley | 3/31/2026 | 5,877 | 7.1% | |||
14 | Loan | Courtyard Cromwell | 2.3% | ||||||||||||||||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | Sterling Jewelers Inc. | 1/31/2048 | 100,890 | 100.0% | ||||||||||||
16 | Loan | Shelby Air Park | 2.1% | DYK Automotive, LLC | 5/31/2026 | 316,667 | 31.9% | Victory Packaging, L.P. | 9/30/2018 | 158,333 | 15.9% | Mercury Printing Company, Inc. | 12/31/2020 | 157,400 | 15.8% | ||||
17 | Loan | Vinings Village | 1.8% | Kroger | 6/30/2023 | 49,724 | 80.8% | Wingstop | 2/28/2020 | 1,602 | 2.6% | H&R Block | 4/30/2019 | 1,419 | 2.3% | ||||
18 | Loan | Best Western O’Hare | 1.6% | ||||||||||||||||
19 | Loan | Fedex Plaza | 1.4% | Vision Works | 3/30/2024 | 4,500 | 16.7% | Salon Management USA | 1/31/2022 | 4,000 | 14.9% | Vitamin Shoppe | 11/30/2026 | 3,520 | 13.1% | ||||
20 | Loan | The Storage Depot-Bordentown | 1.3% | ||||||||||||||||
21 | Loan | The Storage Depot-Westville | 1.3% | ||||||||||||||||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | ||||||||||||||||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | Rxperts | 9/30/2021 | 8,611 | 9.9% | Guitar Center Stores | 4/30/2018 | 6,813 | 7.8% | Sherwin-Williams Company | 7/31/2023 | 6,750 | 7.7% | ||||
22.02 | Property | Kirkwood Center | 0.5% | Monitor Medical, Inc. | 3/31/2019 | 7,649 | 16.7% | U.S. Carpets & Floors | 6/30/2017 | 4,211 | 9.2% | Newman Regency Group, Inc. | 4/30/2019 | 4,050 | 8.8% | ||||
23 | Loan | Cobblestone Village | 1.2% | Bashas’ | 1/31/2027 | 45,115 | 46.1% | Honor Health | 7/31/2021 | 6,280 | 6.4% | Phoenix Salon Suites | 9/30/2029 | 6,000 | 6.1% | ||||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | ||||||||||||||||
25 | Loan | The Charles Hotel | 1.1% | ||||||||||||||||
26 | Loan | Wilmington Industrial Park | 1.1% | PC Connections, Inc. | 8/31/2025 | 282,819 | 53.8% | Dealertrack Digital Services, Inc. | 8/31/2021 | 121,600 | 23.1% | New Sabina Industries, Inc. | 8/31/2019 | 121,600 | 23.1% | ||||
27 | Loan | Windmill Lakes Center | 1.0% | Sear’s Roebuck and Co. #5472 (Sears Hardware) | 11/30/2019 | 20,829 | 29.4% | Capital Fitness | 1/31/2023 | 18,000 | 25.4% | Amish Furniture Gallery, Inc | 3/31/2022 | 10,000 | 14.1% | ||||
28 | Loan | Best Western Salt Lake City | 1.0% | ||||||||||||||||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | Taqueria “El Patron” Mexican Grill | 12/31/2018 | 2,350 | 20.1% | Wholesome Gourmet Market | 9/30/2027 | 2,200 | 18.8% | IX Coffee Shop | 12/31/2018 | 1,300 | 11.1% | ||||
30 | Loan | Northridge Palm Apartment | 0.6% | ||||||||||||||||
31 | Loan | Best Western Battleground | 0.6% | ||||||||||||||||
32 | Loan | Oak Court Apartments | 0.5% | Bilzi Consulting | 12/31/2016 | 2,000 | NAP | Linda Hassan | 2/29/2020 | 1,920 | NAP | Mikele Stephens | 6/14/2018 | 1,000 | NAP | ||||
33 | Loan | Colonial Terrace | 0.4% |
A-1-8 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
4TH LARGEST TENANT INFORMATION(18)(19)(20) | 5TH LARGEST TENANT INFORMATION(18)(19)(20) | |||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | 4th Largest Tenant | 4th Largest Tenant Lease Expiration | 4th Largest Tenant NSF | 4th Largest Tenant % of NSF | 5th Largest Tenant | 5th Largest Tenant Lease Expiration | 5th Largest Tenant NSF | 5th Largest Tenant % of NSF | ||
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | ||||||||||
2 | (27) | Loan | Rentar Plaza | 9.9% | Kmart | 1/31/2019 | 146,821 | 9.4% | City of New York- DOT | 9/30/2018 | 120,000 | 7.7% | ||
3 | (27) | Loan | Gurnee Mills | 9.9% | Kohl’s | 9/2/2024 | 111,675 | 6.6% | Floor & Decor | 9/30/2026 | 105,248 | 6.3% | ||
4 | (27) | Loan | QLIC | 8.2% | ||||||||||
5 | Loan | Walgreens Portfolio I | 5.4% | |||||||||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | |||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | |||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | |||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | |||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | |||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | |||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | |||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | |||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | |||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | |||||||||||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | Forever 21 | 6/30/2024 | 12,986 | 3.3% | Charming Charlie | 5/31/2020 | 10,413 | 2.7% | ||
8 | Loan | Walgreens Portfolio V | 4.4% | |||||||||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | |||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | |||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | |||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | |||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | |||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | |||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | |||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | |||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | Office Depot, Inc. | 6/30/2023 | 18,191 | 8.8% | Jimmy Mac’s Roadhouse | 6/30/2027 | 6,186 | 3.0% | ||
10 | (27) | Loan | Greenwich Office Park | 4.1% | Stark Office Suites of Greenwich LLC | 9/30/2024 | 14,752 | 3.9% | Performance Equity Management LLC | 3/31/2027 | 12,988 | 3.4% | ||
11 | Loan | Great Falls Marketplace | 3.4% | Michaels Arts & Crafts | 2/28/2021 | 20,454 | 9.5% | Barnes & Noble | 1/31/2018 | 20,020 | 9.3% | |||
12 | (27) | Loan | MY Portfolio | 3.3% | ||||||||||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | |||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | |||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | |||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | |||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | |||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | |||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | Vision Capital | 6/30/2018 | 5,835 | 7.1% | Global Thematic Partners | 9/30/2017 | 5,835 | 7.1% | ||
14 | Loan | Courtyard Cromwell | 2.3% | |||||||||||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | |||||||||||
16 | Loan | Shelby Air Park | 2.1% | JAS Forwarding, Inc. | 11/30/2020 | 69,977 | 7.0% | Bogen Communications, Inc. | 10/31/2026 | 39,241 | 3.9% | |||
17 | Loan | Vinings Village | 1.8% | Goodwill | 1/31/2019 | 1,412 | 2.3% | Pro Cleaners | 1/31/2021 | 1,234 | 2.0% | |||
18 | Loan | Best Western O’Hare | 1.6% | |||||||||||
19 | Loan | Fedex Plaza | 1.4% | Sleepy’s Inc. | 11/30/2026 | 3,495 | 13.0% | Fedex Office | 11/30/2019 | 3,415 | 12.7% | |||
20 | Loan | The Storage Depot-Bordentown | 1.3% | |||||||||||
21 | Loan | The Storage Depot-Westville | 1.3% | |||||||||||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | |||||||||||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | Catch The Moment, Inc. | 6/30/2017 | 4,868 | 5.6% | TMD Staffing, Inc. | 1/31/2021 | 4,810 | 5.5% | |||
22.02 | Property | Kirkwood Center | 0.5% | IQS, Inc. | 10/31/2018 | 3,776 | 8.2% | Woods Hole Group, Inc. | 9/30/2020 | 3,058 | 6.7% | |||
23 | Loan | Cobblestone Village | 1.2% | Quilters Ranch | 7/31/2021 | 4,783 | 4.9% | By the Yard | 4/30/2018 | 4,337 | 4.4% | |||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | |||||||||||
25 | Loan | The Charles Hotel | 1.1% | |||||||||||
26 | Loan | Wilmington Industrial Park | 1.1% | |||||||||||
27 | Loan | Windmill Lakes Center | 1.0% | Tuesday Morning | MTM | 7,000 | 9.9% | Plato’s Closet | 11/30/2020 | 3,500 | 4.9% | |||
28 | Loan | Best Western Salt Lake City | 1.0% | |||||||||||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | |||||||||||
30 | Loan | Northridge Palm Apartment | 0.6% | |||||||||||
31 | Loan | Best Western Battleground | 0.6% | |||||||||||
32 | Loan | Oak Court Apartments | 0.5% | Real Properties LLC | 2/28/2018 | 1,000 | NAP | |||||||
33 | Loan | Colonial Terrace | 0.4% |
A-1-9 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN RESERVE INFORMATION(21)(22)(23)(24) | |||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Upfront Replacement Reserves | Monthly Replacement Reserves | |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | $0 | $3,656 | |
2 | (27) | Loan | Rentar Plaza | 9.9% | $0 | $13,060 | |
3 | (27) | Loan | Gurnee Mills | 9.9% | $0 | Springing | |
4 | (27) | Loan | QLIC | 8.2% | $0 | $7,017 | |
5 | Loan | Walgreens Portfolio I | 5.4% | $0 | $0 | ||
5.01 | Property | Walgreens - Midland, TX | 0.8% | ||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | ||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | ||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | ||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | ||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | ||||
5.07 | Property | Walgreens - New London, WI | 0.5% | ||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | ||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | ||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | $0 | An amount equal to the greater of (a) 1/12 of 4% of total department revenue during the immediately preceding calendar year in which the monthly payment occurs or (b) aggregate amount required to be reserved under the management agreement and the franchise agreement | ||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | $0 | Springing | |
8 | Loan | Walgreens Portfolio V | 4.4% | $0 | $0 | ||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | ||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | ||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | ||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | ||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | ||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | ||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | ||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | ||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | $0 | $2,596 | |
10 | (27) | Loan | Greenwich Office Park | 4.1% | $0 | $5,130 | |
11 | Loan | Great Falls Marketplace | 3.4% | $0 | $3,583 | ||
12 | (27) | Loan | MY Portfolio | 3.3% | $0 | (a) with respect to Candlewood Suites - Slidell, the Gonzales Property, the Vicksburg Property and the LaQuinta Property, an amount equal to the greater of (i) an amount equal to one-twelfth (1/12) of four percent (4%) of Gross Income from Operations during the calendar year immediately preceding the calendar year in which such Monthly Payment Date occurs, and (ii) the aggregate amount, if any, required to be reserved under the Management Agreement and the applicable Franchise Agreement; and (b) with respect to the Covington Property and the New Orleans Property, an amount equal to the greater of (i)(A) during the first two years of Term, one-twelfth (1/12) of two percent (2%) of Gross Income from Operations during the calendar year immediately preceding the calendar year in which such Monthly Payment Date occurs, (B) during the third year of Term, an amount equal to one-twelfth (1/12) of three percent (3%) of Gross Income from Operations during the calendar year immediately preceding the calendar year in which such Monthly Payment Date occurs, and (C) after the third year of the Term and during each year for the remainder thereof, an amount equal to one-twelfth (1/12) of four percent (4%) of Gross Income from Operations during the calendar year immediately preceding the calendar year in which such Monthly Payment Date occurs, and (ii) the aggregate amount, if any, required to be reserved under the Management Agreement and the Franchise Agreement | |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | ||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | ||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | ||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | ||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | ||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | ||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $0 | $1,376 | |
14 | Loan | Courtyard Cromwell | 2.3% | $0 | 4% of prior gross revenue for the immediately preceding calendar month | ||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | $0 | Springing | ||
16 | Loan | Shelby Air Park | 2.1% | $0 | $8,282 | ||
17 | Loan | Vinings Village | 1.8% | $0 | $770 | ||
18 | Loan | Best Western O’Hare | 1.6% | $0 | 4% of gross Rents for the immediately preceding calendar month | ||
19 | Loan | Fedex Plaza | 1.4% | $0 | $495 | ||
20 | Loan | The Storage Depot-Bordentown | 1.3% | $649 | $649 | ||
21 | Loan | The Storage Depot-Westville | 1.3% | $894 | $894 | ||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | $0 | $1,663 | ||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | ||||
22.02 | Property | Kirkwood Center | 0.5% | ||||
23 | Loan | Cobblestone Village | 1.2% | $155,000 | $1,223 | ||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | $0 | 4% of gross Rents for the immediately preceding calendar month | ||
25 | Loan | The Charles Hotel | 1.1% | $0 | 1/12 of 6% of gross rent for the immediately preceding calendar year | ||
26 | Loan | Wilmington Industrial Park | 1.1% | $0 | $6,575 | ||
27 | Loan | Windmill Lakes Center | 1.0% | $0 | $1,242 | ||
28 | Loan | Best Western Salt Lake City | 1.0% | $0 | 1/12 of 4% of gross revenue for the immediately preceding calendar year | ||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | $0 | $247 | ||
30 | Loan | Northridge Palm Apartment | 0.6% | $0 | $750 | ||
31 | Loan | Best Western Battleground | 0.6% | $0 | 6% of gross rents for the immediately preceding calendar month | ||
32 | Loan | Oak Court Apartments | 0.5% | $0 | $699 | ||
33 | Loan | Colonial Terrace | 0.4% | $0 | $1,063 |
A-1-10 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN RESERVE INFORMATION(21)(22)(23)(24) | ||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Replacement Reserve Cap | Upfront TI/LC Reserves | Monthly TI/LC Reserves | TI/LC Reserve Cap | Upfront Tax Reserves | Monthly Tax Reserves | Upfront Insurance Reserves | Monthly Insurance Reserves | Upfront Deferred Maint. Reserve | Upfront Debt Service Reserves |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | $0 | $0 | $931,323 | $465,662 | $39,186 | $19,593 | $0 | $0 | ||
2 | (27) | Loan | Rentar Plaza | 9.9% | $0 | $32,650 | $1,311,902 | $437,301 | $230,316 | Springing | $0 | $0 | ||
3 | (27) | Loan | Gurnee Mills | 9.9% | $0 | Springing | $0 | Springing | $0 | Springing | $0 | $0 | ||
4 | (27) | Loan | QLIC | 8.2% | $0 | $0 | $9,870 | $9,870 | $0 | Springing | $8,023,541 | $0 | ||
5 | Loan | Walgreens Portfolio I | 5.4% | $0 | $0 | $0 | Springing | $0 | Springing | $0 | $0 | |||
5.01 | Property | Walgreens - Midland, TX | 0.8% | |||||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | |||||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | |||||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | |||||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | |||||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | |||||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | |||||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | |||||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | |||||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | $0 | $0 | $16,765 | $16,765 | $62,745 | Springing | $0 | $0 | |||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | $195,931 | $0 | Springing | $1,175,586 | $0 | Springing | $0 | Springing | $0 | $0 |
8 | Loan | Walgreens Portfolio V | 4.4% | $0 | $0 | $0 | Springing | $0 | Springing | $0 | $0 | |||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | |||||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | |||||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | |||||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | |||||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | |||||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | |||||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | |||||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | |||||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | $680,000 | Springing | $680,000 | $206,875 | $57,465 | $45,386 | $4,282 | $0 | $0 | |
10 | (27) | Loan | Greenwich Office Park | 4.1% | $0 | $47,483 | $2,848,958 | $611,180 | $126,663 | $116,110 | $12,901 | $342,500 | $0 | |
11 | Loan | Great Falls Marketplace | 3.4% | $750,000 | Springing | $250,000 | $219,016 | $28,818 | $11,134 | $2,420 | $4,875 | $0 | ||
12 | (27) | Loan | MY Portfolio | 3.3% | $0 | $0 | $312,690 | $45,045 | $152,756 | $28,499 | $16,500 | $0 | ||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | |||||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | |||||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | |||||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | |||||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | |||||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | |||||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $0 | Springing | $848,821 | $151,575 | $106,910 | $8,485 | $0 | $0 | ||
14 | Loan | Courtyard Cromwell | 2.3% | $0 | $0 | $100,422 | $25,105 | $37,469 | $3,406 | $18,750 | $0 | |||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | $0 | Springing | $80,772 | Springing | $24,301 | Springing | $0 | $0 | |||
16 | Loan | Shelby Air Park | 2.1% | $0 | $16,564 | $154,317 | $56,135 | $14,402 | $7,201 | $2,188 | $0 | |||
17 | Loan | Vinings Village | 1.8% | $0 | $2,566 | $38,071 | $12,690 | $6,077 | $1,056 | $26,500 | $0 | |||
18 | Loan | Best Western O’Hare | 1.6% | $0 | $0 | $81,006 | $20,252 | $6,618 | $6,618 | $0 | $0 | |||
19 | Loan | Fedex Plaza | 1.4% | $17,775 | $0 | $1,683 | $60,602 | $10,113 | $10,113 | $1,811 | $905 | $0 | $0 | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | $0 | $0 | $8,359 | $8,359 | $13,316 | $1,110 | $0 | $0 | |||
21 | Loan | The Storage Depot-Westville | 1.3% | $663 | $663 | $15,181 | $15,181 | $18,889 | $1,574 | $0 | $0 | |||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | $50,000 | $8,312 | $99,800 | $143,814 | $15,792 | $5,916 | $1,479 | $0 | $0 | ||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | |||||||||||
22.02 | Property | Kirkwood Center | 0.5% | |||||||||||
23 | Loan | Cobblestone Village | 1.2% | $250,000 | Springing | $250,000 | $17,503 | $10,939 | $4,281 | $1,647 | $3,125 | $0 | ||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | $0 | $0 | $40,092 | $13,364 | $23,018 | $5,755 | $76,931 | $0 | |||
25 | Loan | The Charles Hotel | 1.1% | $0 | $0 | $76,164 | $6,924 | $25,853 | $3,693 | $0 | $0 | |||
26 | Loan | Wilmington Industrial Park | 1.1% | $0 | $6,575 | $0 | Springing | $0 | Springing | $95,500 | $0 | |||
27 | Loan | Windmill Lakes Center | 1.0% | $0 | Springing | $283,796 | $0 | All excess cash flow until $94,392 and $18,878 thereafter | $1,542 | $1,542 | $0 | $0 | ||
28 | Loan | Best Western Salt Lake City | 1.0% | $0 | $0 | $5,846 | $5,846 | $8,908 | $1,273 | $0 | $0 | |||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | $0 | $638 | $0 | $9,176 | $2,199 | $1,100 | $0 | $0 | |||
30 | Loan | Northridge Palm Apartment | 0.6% | $0 | $0 | $17,227 | $2,153 | $1,119 | $559 | $3,188 | $0 | |||
31 | Loan | Best Western Battleground | 0.6% | $0 | $0 | $6,784 | $3,392 | $8,199 | $1,640 | $0 | $0 | |||
32 | Loan | Oak Court Apartments | 0.5% | $0 | $493 | $0 | $2,853 | $0 | $2,532 | $0 | $0 | |||
33 | Loan | Colonial Terrace | 0.4% | $0 | $0 | $28,820 | $3,602 | $1,845 | $922 | $14,500 | $0 |
A-1-11 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN RESERVE INFORMATION(21)(22)(23)(24) | |||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Monthly Debt Service Reserves | Upfront Environmental Reserves | Initial Other Reserves | Initial Other Reserves Description | Ongoing Other Reserves |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | $0 | $0 | $0 | Springing | |
2 | (27) | Loan | Rentar Plaza | 9.9% | $0 | $0 | $0 | Springing | |
3 | (27) | Loan | Gurnee Mills | 9.9% | $0 | $0 | $0 | $0 | |
4 | (27) | Loan | QLIC | 8.2% | $0 | $0 | $2,100,000 | Shortfall Reserve | Springing |
5 | Loan | Walgreens Portfolio I | 5.4% | $0 | $0 | $0 | $0 | ||
5.01 | Property | Walgreens - Midland, TX | 0.8% | ||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | ||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | ||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | ||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | ||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | ||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | ||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | ||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | ||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | $0 | $0 | $0 | Springing | ||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | $0 | $0 | $0 | $0 | |
8 | Loan | Walgreens Portfolio V | 4.4% | $0 | $0 | $0 | $0 | ||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | ||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | ||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | ||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | ||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | ||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | ||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | ||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | ||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | $0 | $0 | $22,500 | Pool Reserve Funds | Springing |
10 | (27) | Loan | Greenwich Office Park | 4.1% | $0 | $0 | $392,788 | Ground Rent Reserve ($17,699); Free Rent Reserve($375,089) | Springing |
11 | Loan | Great Falls Marketplace | 3.4% | $0 | $0 | $581,875 | Structural Repair Reserve | Springing | |
12 | (27) | Loan | MY Portfolio | 3.3% | $0 | $0 | $901,000 | PIP Reserve | Springing |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | ||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | ||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | ||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | ||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | ||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | ||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $0 | $0 | $2,472,743 | Rent Concession Funds ($250,262); Unfunded Obligations Funds ($2,222,481) | Springing |
14 | Loan | Courtyard Cromwell | 2.3% | $0 | $0 | $3,501,403 | PIP Reserve ($3,411,403); Seasonal Reserve ($90,000) | Monthly: $50,000 on each payment date occurring in June, $40,000 on each payment date occurring in July | |
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | $0 | $0 | $0 | Springing | ||
16 | Loan | Shelby Air Park | 2.1% | $0 | $0 | $419,803 | Mercury Printing Reserve ($415,000); Masterpak TI/LC Reserve ($4,803) | Springing | |
17 | Loan | Vinings Village | 1.8% | $0 | $0 | $0 | Springing | ||
18 | Loan | Best Western O’Hare | 1.6% | $0 | $0 | $39,375 | PIP Reserve | Springing | |
19 | Loan | Fedex Plaza | 1.4% | $0 | $0 | $0 | Springing | ||
20 | Loan | The Storage Depot-Bordentown | 1.3% | $0 | $0 | $0 | $0 | ||
21 | Loan | The Storage Depot-Westville | 1.3% | $0 | $0 | $0 | $0 | ||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | $0 | $0 | $0 | Springing | ||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | ||||||
22.02 | Property | Kirkwood Center | 0.5% | ||||||
23 | Loan | Cobblestone Village | 1.2% | $0 | $0 | $171,561 | Unfunded Obligations Reserve | Springing | |
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | $0 | $0 | $76,889 | Seasonal Reserve ($41,000); Collateral Reserve ($35,889.05) | Springing | |
25 | Loan | The Charles Hotel | 1.1% | $0 | $0 | $0 | $0 | ||
26 | Loan | Wilmington Industrial Park | 1.1% | $0 | $0 | $0 | Springing | ||
27 | Loan | Windmill Lakes Center | 1.0% | $0 | $0 | $0 | Springing | ||
28 | Loan | Best Western Salt Lake City | 1.0% | $0 | $0 | $115,000 | Seasonal Reserve | Springing | |
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | $0 | $0 | $0 | Springing | ||
30 | Loan | Northridge Palm Apartment | 0.6% | $0 | $0 | $0 | $0 | ||
31 | Loan | Best Western Battleground | 0.6% | $0 | $0 | $295,640 | Seasonal Reserve ($91,577); PIP Reserve ($204,063) | Springing | |
32 | Loan | Oak Court Apartments | 0.5% | $0 | $0 | $0 | $0 | ||
33 | Loan | Colonial Terrace | 0.4% | $0 | $0 | $0 | $0 |
A-1-12 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN RESERVE INFORMATION(21)(22)(23)(24) | |||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Ongoing Other Reserves Description |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | Novo Reserve: Following the commencement of and at all times during the continuance of a Novo Cash Sweep Trigger Event, all excess cash flow will be deposited into the account. |
2 | (27) | Loan | Rentar Plaza | 9.9% | Primary Tenant Reserve: following the occurrence of a Primary Tenant Event, Borrower shall deposit on a monthly basis an amount equal to one-sixth of the annual base rent payable by the applicable Primary Tenant(s) |
3 | (27) | Loan | Gurnee Mills | 9.9% | |
4 | (27) | Loan | QLIC | 8.2% | If at any time, the balance in the Shortfalls Reserve is less than $500,000, on each payment date, all excess cash shall be deposited into the account |
5 | Loan | Walgreens Portfolio I | 5.4% | ||
5.01 | Property | Walgreens - Midland, TX | 0.8% | ||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | ||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | ||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | ||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | ||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | ||
5.07 | Property | Walgreens - New London, WI | 0.5% | ||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | ||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | ||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | Future PIP Reserve: Upon the occurrence of a Future PIP Trigger event, borrower shall deposit all excess cash flow into the Future PIP Reserve. | |
7 | (27) | Loan | Wolfchase Galleria | 4.9% | |
8 | Loan | Walgreens Portfolio V | 4.4% | ||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | ||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | ||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | ||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | ||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | ||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | ||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | ||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | ||
9 | (27) | Loan | Federal Way Crossings | 4.2% | Material Tenant Rollover Funds springing upon a Material Tenant Trigger Event. |
10 | (27) | Loan | Greenwich Office Park | 4.1% | Primary Tenant Reserve: During a Primary Tenant Sweep Period, all excess cash flow will be deposited into the account; Ground Rent: If (i) an Event of Default or a cash trap period has occurred and is continuing or (ii) the Borrower has not paid all ground rent due, an amount equal to the ground rent payable under the ground lease for the following month |
11 | Loan | Great Falls Marketplace | 3.4% | Material Tenant Rollover Funds springing upon a Material Tenant Trigger Event. | |
12 | (27) | Loan | MY Portfolio | 3.3% | Future PIP Reserve: Monthly deposits of all excess cash flows during a Future PIP Trigger event and the Partial Release PIP deposit after a partial release |
12.01 | Property | Holiday Inn Express - Covington | 0.7% | ||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | ||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | ||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | ||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | ||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | ||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | Material Tenant TI/LC Funds: Monthly deposit of excess cash flow upon a Material Tenant Trigger event |
14 | Loan | Courtyard Cromwell | 2.3% | Seasonal Reserve - If dscr > 1.10x for 24 consecutive months a seasonality reserve is not required | |
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | Primary Tenant Reserve: Following the commencement of and at all times during the continuance of a Primary Tenant Period, all excess cash shall be deposited into the account. | |
16 | Loan | Shelby Air Park | 2.1% | Primary Tenant Reserve: During the continuance of a Primary Tenant Sweep Period, all excess cash shall be deposited into the account | |
17 | Loan | Vinings Village | 1.8% | Lease Sweep Reserve (Springing Monthly: Excess Cash Flow) | |
18 | Loan | Best Western O’Hare | 1.6% | Franchise Expiration Reserve: Upon a Franchise Expiration Trigger all excess cash flow will be deposited into the account. | |
19 | Loan | Fedex Plaza | 1.4% | Primary Tenant Reserve: Springing - Commencing on and at all times during a Primary Tenant Sweep Period, all remaining funds in the Deposit Account shall be deposited into the account; Sleepy’s Reserve: Springing - Commencing on and at all times during a Sleepy’s Sweep Period, all remaining funds in the Deposit Account shall be deposited into the account; | |
20 | Loan | The Storage Depot-Bordentown | 1.3% | ||
21 | Loan | The Storage Depot-Westville | 1.3% | ||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | Lease Sweep Reserve (Springing Monthly: Excess Cash Flow) | |
22.01 | Property | 8600-8850 Jameel Road | 0.8% | ||
22.02 | Property | Kirkwood Center | 0.5% | ||
23 | Loan | Cobblestone Village | 1.2% | Material Tenant Rollover Funds: Monthly deposit of excess cash flow upon a Material Tenant Trigger event; Bashas’ Sales Trigger Sweep Funds: Monthly deposit of Bashas’ Sales Trigger Event excess cash flow upon a Bashas’ Sales Trigger event | |
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | Seasonal Reserve (Monthly: $8,000 on the payment date occurring in February of each calendar year, $10,000 on the payment date occurring in March of each calendar year, $15,000 on the Payment Date occurring in April of each calendar year, $20,000 on the Payment Date occurring in June of each calendar year, $35,000 on the Payment Date occurring in August of each calendar year) | |
25 | Loan | The Charles Hotel | 1.1% | ||
26 | Loan | Wilmington Industrial Park | 1.1% | Material Tenant Rollover Funds springing upon a Material Tenant Trigger Event. | |
27 | Loan | Windmill Lakes Center | 1.0% | Primary Tenant Reserve: During the continuance of a Primary Tenant Sweep Period, all excess cash shall be deposited into the account | |
28 | Loan | Best Western Salt Lake City | 1.0% | Seasonal Reserve: $23,000 on each payment date occurring in June through October | |
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | Lease termination payment reserve springing upon receipt of a lease termination payment | |
30 | Loan | Northridge Palm Apartment | 0.6% | ||
31 | Loan | Best Western Battleground | 0.6% | Seasonal Reserve: ($2,500 on the payment date occurring in April of each calendar year; $15,000 on the payment date occurring in May of each calendar year; $26,000 on the payment date occurring in June of each calendar year; and $48,000 on the payment date occurring in July of each calendar year.) Franchise Expiration Reserve: (Springing: Upon a Franchise Expiration Trigger all excess cash flow will be deposited into the account.) | |
32 | Loan | Oak Court Apartments | 0.5% | ||
33 | Loan | Colonial Terrace | 0.4% |
A-1-13 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
MORTGAGE LOAN RESERVE INFORMATION(21)(22)(23)(24) | THIRD PARTY REPORTS | |||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Other Reserves Cap | Holdback | Holdback Amount | Holdback Description | Letter of Credit | Letter of Credit Description | Appraisal Report Date | Environmental Phase I Report Date | Phase II Performed(25) | Engineering Report Date | Seismic Zone (Y/N) | Seismic Report Date | PML % | |
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | No | NAP | NAP | No | NAP | 6/1/2016 | 8/18/2016 | No | 8/10/2016 | N | NAP | |||
2 | (27) | Loan | Rentar Plaza | 9.9% | No | NAP | NAP | No | NAP | 7/19/2016 | 7/19/2016 | No | 6/19/2016 | N | NAP | |||
3 | (27) | Loan | Gurnee Mills | 9.9% | No | NAP | NAP | No | NAP | 8/23/2016 | 8/26/2016 | No | 8/26/2016 | N | NAP | |||
4 | (27) | Loan | QLIC | 8.2% | $1,000,000 | No | NAP | NAP | No | NAP | 8/18/2016 | 9/12/2016 | No | 12/20/2015 | N | NAP | ||
5 | Loan | Walgreens Portfolio I | 5.4% | No | NAP | NAP | No | NAP | Various | Various | No | Various | N | NAP | ||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | 9/25/2016 | 11/7/2016 | No | 10/3/2016 | N | NAP | |||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 9/25/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 9/25/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 9/25/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 9/27/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 9/30/2016 | 10/24/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | 9/26/2016 | 10/25/2016 | No | 9/30/2016 | N | NAP | |||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 9/27/2016 | 10/3/2016 | No | 10/3/2016 | N | NAP | |||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 9/25/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | No | NAP | NAP | No | NAP | 10/12/2016 | 10/21/2016 | No | 10/21/2016 | Y | 10/20/2016 | 11.0% | |||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | No | NAP | NAP | No | NAP | 9/26/2016 | 10/3/2016 | No | 10/3/2016 | Y | 10/4/2016 | 9.0% | ||
8 | Loan | Walgreens Portfolio V | 4.4% | No | NAP | NAP | No | NAP | Various | Various | No | Various | N | NAP | ||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 9/26/2016 | 11/8/2016 | No | 9/30/2016 | N | NAP | |||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 9/25/2016 | 10/7/2016 | No | 9/30/2016 | N | NAP | |||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 9/27/2016 | 10/3/2016 | No | 9/30/2016 | N | NAP | |||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 9/25/2016 | 11/8/2016 | No | 10/5/2016 | N | NAP | |||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 9/26/2016 | 11/8/2016 | No | 9/30/2016 | N | NAP | |||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 9/29/2016 | 11/7/2016 | No | 9/30/2016 | N | NAP | |||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 9/27/2016 | 10/3/2016 | No | 10/3/2016 | N | NAP | |||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 9/25/2016 | 10/31/2016 | No | 9/30/2016 | N | NAP | |||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | No | NAP | NAP | No | NAP | 8/17/2016 | 10/25/2016 | No | 9/2/2016 | Y | 8/31/2016 | 6.8% | ||
10 | (27) | Loan | Greenwich Office Park | 4.1% | No | NAP | NAP | No | NAP | 9/6/2016 | 9/20/2016 | No | 9/20/2016 | N | NAP | |||
11 | Loan | Great Falls Marketplace | 3.4% | No | NAP | NAP | No | NAP | 9/12/2016 | 9/14/2016 | No | 9/14/2016 | N | NAP | ||||
12 | (27) | Loan | MY Portfolio | 3.3% | No | NAP | NAP | No | NAP | Various | Various | No | 8/3/2016 | N | NAP | |||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | 7/14/2016 | 8/3/2016 | No | 8/3/2016 | N | NAP | |||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | 7/13/2016 | 8/3/2016 | No | 8/3/2016 | N | NAP | |||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | 7/14/2016 | 8/3/2016 | No | 8/3/2016 | N | NAP | |||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | 7/13/2016 | 8/3/2016 | No | 8/3/2016 | N | NAP | |||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | 7/13/2016 | 8/1/2016 | No | 8/3/2016 | N | NAP | |||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | 7/14/2016 | 8/3/2016 | No | 8/3/2016 | N | NAP | |||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | $10,000,000 | No | NAP | NAP | No | NAP | 10/1/2016 | 10/3/2016 | No | 10/3/2016 | N | NAP | ||
14 | Loan | Courtyard Cromwell | 2.3% | No | NAP | NAP | No | NAP | 8/11/2016 | 8/23/2016 | No | 8/23/2016 | N | NAP | ||||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | No | NAP | NAP | No | NAP | 8/8/2016 | 8/25/2016 | No | 8/30/2016 | N | NAP | ||||
16 | Loan | Shelby Air Park | 2.1% | No | NAP | NAP | No | NAP | 9/1/2016 | 8/31/2016 | No | 8/30/2016 | Y | 9/6/2016 | 6.0% | |||
17 | Loan | Vinings Village | 1.8% | No | NAP | NAP | No | NAP | 9/27/2016 | 9/28/2016 | No | 9/26/2016 | N | NAP | ||||
18 | Loan | Best Western O’Hare | 1.6% | No | NAP | NAP | No | NAP | 8/15/2016 | 8/17/2016 | No | 8/19/2016 | N | NAP | ||||
19 | Loan | Fedex Plaza | 1.4% | Primary Tenant Reserve ($175,640); Sleepy’s Reserve ($131,550) | No | NAP | NAP | No | NAP | 8/26/2016 | 9/6/2016 | No | 9/1/2016 | N | NAP | |||
20 | Loan | The Storage Depot-Bordentown | 1.3% | No | NAP | NAP | No | NAP | 9/28/2016 | 10/10/2016 | No | 10/7/2016 | N | NAP | ||||
21 | Loan | The Storage Depot-Westville | 1.3% | No | NAP | NAP | No | NAP | 9/28/2016 | 10/10/2016 | No | 10/10/2016 | N | NAP | ||||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | No | NAP | NAP | No | NAP | 9/8/2015 | Various | No | 9/15/2015 | N | NAP | ||||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | 9/8/2015 | 9/16/2015 | No | 9/15/2015 | N | NAP | |||||||||
22.02 | Property | Kirkwood Center | 0.5% | 9/8/2015 | 9/15/2015 | No | 9/15/2015 | N | NAP | |||||||||
23 | Loan | Cobblestone Village | 1.2% | No | NAP | NAP | No | NAP | 10/17/2016 | 10/27/2016 | No | 10/31/2016 | N | NAP | ||||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | No | NAP | NAP | No | NAP | 9/19/2016 | 9/30/2016 | No | 9/30/2016 | N | NAP | ||||
25 | Loan | The Charles Hotel | 1.1% | No | NAP | NAP | No | NAP | 8/7/2016 | 8/18/2016 | No | 8/17/2016 | N | NAP | ||||
26 | Loan | Wilmington Industrial Park | 1.1% | $5 per square foot of the applicable Material Tenant Space | No | NAP | NAP | No | NAP | 9/20/2016 | 10/3/2016 | No | 10/3/2016 | N | NAP | |||
27 | Loan | Windmill Lakes Center | 1.0% | No | NAP | NAP | No | NAP | 6/22/2016 | 6/29/2016 | No | 6/29/2016 | N | NAP | ||||
28 | Loan | Best Western Salt Lake City | 1.0% | No | NAP | NAP | No | NAP | 9/19/2016 | 10/4/2016 | No | 10/5/2016 | Y | 10/5/2016 | 9.0% | |||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | Yes | $185,000 | Debt Service Shortfall Reserve and Outstanding Violation Holdback | No | NAP | 10/5/2016 | 10/14/2016 | No | 10/14/2016 | N | NAP | ||||
30 | Loan | Northridge Palm Apartment | 0.6% | No | NAP | NAP | No | NAP | 6/10/2016 | 6/23/2016 | No | 6/22/2016 | Y | 6/22/2016 | 13.0% | |||
31 | Loan | Best Western Battleground | 0.6% | No | NAP | NAP | No | NAP | 2/22/2016 | 3/4/2016 | No | 3/2/2016 | Y | 3/2/2016 | 7.0% | |||
32 | Loan | Oak Court Apartments | 0.5% | No | NAP | NAP | No | NAP | 8/28/2016 | 9/13/2016 | No | 9/13/2016 | N | NAP | ||||
33 | Loan | Colonial Terrace | 0.4% | No | NAP | NAP | No | NAP | 6/10/2016 | 6/22/2016 | No | 6/22/2016 | Y | 6/22/2016 | 12.0% |
A-1-14 |
ANNEX A - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
ADDITIONAL PERMITTED DEBT(26) | TOTAL MORTGAGE DEBT INFORMATION | TOTAL DEBT INFORMATION | ||||||||||||||||
Loan ID | Footnotes | Property Flag | Property Name | % of Initial Pool Balance | Additional Future Debt Permitted | Additional Future Debt Permitted Description | Cut-off Date Pari Passu Mortgage Debt Balance | Cut-off Date Subord. Mortgage Debt Balance | Total Mortgage Debt Cut-off Date LTV Ratio | Total Mortgage Debt UW NCF DSCR | Total Mortgage Debt UW NOI Debt Yield | Cut-off Date Mezzanine Debt Balance | Total Debt Cut-off Date LTV Ratio | Total Debt UW NCF DSCR | Total Debt UW NOI Debt Yield | |||
1 | (27)(28) | Loan | Novo Nordisk | 9.9% | No | $168,300,000 | 52.6% | 2.97x | 10.5% | 52.6% | 2.97x | 10.5% | ||||||
2 | (27) | Loan | Rentar Plaza | 9.9% | No | $132,000,000 | 44.0% | 2.59x | 9.6% | 44.0% | 2.59x | 9.6% | ||||||
3 | (27) | Loan | Gurnee Mills | 9.9% | No | $274,235,396 | 65.8% | 1.60x | 9.7% | 65.8% | 1.60x | 9.7% | ||||||
4 | (27) | Loan | QLIC | 8.2% | No | $145,000,000 | $20,000,000 | 64.7% | 1.54x | 7.3% | 64.7% | 1.54x | 7.3% | |||||
5 | Loan | Walgreens Portfolio I | 5.4% | No | NAP | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||
5.01 | Property | Walgreens - Midland, TX | 0.8% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.02 | Property | Walgreens - New Braunfels, TX | 0.6% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.03 | Property | Walgreens - Texarkana, TX | 0.6% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.04 | Property | Walgreens - Fort Collins, CO | 0.6% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.05 | Property | Walgreens - Falcon, CO | 0.6% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.06 | Property | Walgreens - Galveston, TX | 0.6% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.07 | Property | Walgreens - New London, WI | 0.5% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.08 | Property | Walgreens - Dodgeville, WI | 0.5% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
5.09 | Property | Walgreens - Killeen, TX | 0.5% | 57.0% | 2.07x | 9.7% | 57.0% | 2.07x | 9.7% | |||||||||
6 | Loan | Embassy Suites - Hillsboro | 5.3% | No | NAP | 61.8% | 1.74x | 12.5% | 61.8% | 1.74x | 12.5% | |||||||
7 | (27) | Loan | Wolfchase Galleria | 4.9% | No | $164,768,389 | 64.9% | 1.72x | 10.7% | 64.9% | 1.72x | 10.7% | ||||||
8 | Loan | Walgreens Portfolio V | 4.4% | No | NAP | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||
8.01 | Property | Walgreens - Tempe, AZ | 0.6% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.02 | Property | Walgreens - Cheyenne, WY | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.03 | Property | Walgreens - Elkhorn, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.04 | Property | Walgreens - Janesville, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.05 | Property | Walgreens - Beaver Dam, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.06 | Property | Walgreens - Sheboygan, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.07 | Property | Walgreens - Merrill, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
8.08 | Property | Walgreens - Stevens Point, WI | 0.5% | 56.3% | 2.07x | 9.7% | 56.3% | 2.07x | 9.7% | |||||||||
9 | (27) | Loan | Federal Way Crossings | 4.2% | No | $57,924,846 | 69.7% | 1.36x | 8.7% | 69.7% | 1.36x | 8.7% | ||||||
10 | (27) | Loan | Greenwich Office Park | 4.1% | No | $87,500,000 | 72.8% | 1.58x | 8.7% | $10,000,000 | 72.8% | 1.58x | 8.7% | |||||
11 | Loan | Great Falls Marketplace | 3.4% | No | NAP | 62.3% | 1.44x | 10.7% | 62.3% | 1.44x | 10.7% | |||||||
12 | (27) | Loan | MY Portfolio | 3.3% | No | $29,902,775 | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | ||||||
12.01 | Property | Holiday Inn Express - Covington | 0.7% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
12.02 | Property | Holiday Inn - Vicksburg | 0.6% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
12.03 | Property | Holiday Inn Express - New Orleans | 0.5% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
12.04 | Property | Comfort Suites - Gonzales | 0.5% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
12.05 | Property | LaQuinta Inn & Suites - Vicksburg | 0.5% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
12.06 | Property | Candlewood Suites - Slidell | 0.5% | 62.3% | 1.93x | 15.1% | 62.3% | 1.93x | 15.1% | |||||||||
13 | (27) | Loan | 681 Fifth Avenue | 2.5% | No | $215,000,000 | 48.9% | 1.67x | 7.3% | 48.9% | 1.67x | 7.3% | ||||||
14 | Loan | Courtyard Cromwell | 2.3% | No | NAP | 73.1% | 1.83x | 12.6% | 73.1% | 1.83x | 12.6% | |||||||
15 | Loan | Sterling Jewelers Corporate HQ III | 2.2% | No | NAP | 60.0% | 2.00x | 8.9% | 60.0% | 2.00x | 8.9% | |||||||
16 | Loan | Shelby Air Park | 2.1% | No | NAP | 64.3% | 1.41x | 10.6% | 64.3% | 1.41x | 10.6% | |||||||
17 | Loan | Vinings Village | 1.8% | No | NAP | 71.3% | 1.26x | 8.4% | 71.3% | 1.26x | 8.4% | |||||||
18 | Loan | Best Western O’Hare | 1.6% | No | NAP | 69.8% | 1.82x | 13.6% | 69.8% | 1.82x | 13.6% | |||||||
19 | Loan | Fedex Plaza | 1.4% | No | NAP | 64.8% | 1.64x | 9.7% | 64.8% | 1.64x | 9.7% | |||||||
20 | Loan | The Storage Depot-Bordentown | 1.3% | No | NAP | 73.3% | 1.45x | 8.9% | 73.3% | 1.45x | 8.9% | |||||||
21 | Loan | The Storage Depot-Westville | 1.3% | No | NAP | 74.4% | 1.38x | 8.6% | 74.4% | 1.38x | 8.6% | |||||||
22 | Loan | Jameel Road & Kirkwood Center | 1.3% | No | NAP | 74.7% | 1.68x | 11.4% | 74.7% | 1.68x | 11.4% | |||||||
22.01 | Property | 8600-8850 Jameel Road | 0.8% | 74.7% | 1.68x | 11.4% | 74.7% | 1.68x | 11.4% | |||||||||
22.02 | Property | Kirkwood Center | 0.5% | 74.7% | 1.68x | 11.4% | 74.7% | 1.68x | 11.4% | |||||||||
23 | Loan | Cobblestone Village | 1.2% | No | NAP | 64.4% | 1.40x | 10.0% | 64.4% | 1.40x | 10.0% | |||||||
24 | Loan | Best Western Plus Atlanta Airport-East | 1.1% | No | NAP | 60.8% | 1.95x | 14.7% | 60.8% | 1.95x | 14.7% | |||||||
25 | Loan | The Charles Hotel | 1.1% | No | NAP | 61.2% | 1.94x | 14.3% | 61.2% | 1.94x | 14.3% | |||||||
26 | Loan | Wilmington Industrial Park | 1.1% | No | NAP | 48.5% | 3.13x | 18.2% | 48.5% | 3.13x | 18.2% | |||||||
27 | Loan | Windmill Lakes Center | 1.0% | Yes | Future mezzanine debt permitted subject to: (i) maximum combined LTV of 80%; (ii) minimum combined Underwritten Debt Service Coverage Ratio of 1.10x; (iii) execution of an intercreditor agreement | NAP | 59.0% | 1.26x | 11.0% | 59.0% | 1.26x | 11.0% | ||||||
28 | Loan | Best Western Salt Lake City | 1.0% | No | NAP | 63.9% | 1.78x | 13.1% | 63.9% | 1.78x | 13.1% | |||||||
29 | Loan | 534 Flatbush Ave-Brooklyn | 0.8% | No | NAP | 60.0% | 1.35x | 9.2% | 60.0% | 1.35x | 9.2% | |||||||
30 | Loan | Northridge Palm Apartment | 0.6% | Yes | Future mezzanine debt permitted subject to: (i) maximum combined LTV of 80%; (ii) minimum combined Underwritten Debt Service Coverage Ratio of 1.15x; (iii) execution of an intercreditor agreement; and (iv) no event of default | NAP | 62.9% | 1.31x | 8.3% | 62.9% | 1.31x | 8.3% | ||||||
31 | Loan | Best Western Battleground | 0.6% | No | NAP | 66.3% | 1.66x | 15.8% | 66.3% | 1.66x | 15.8% | |||||||
32 | Loan | Oak Court Apartments | 0.5% | No | NAP | 62.8% | 1.21x | 8.9% | 62.8% | 1.21x | 8.9% | |||||||
33 | Loan | Colonial Terrace | 0.4% | Yes | Future mezzanine debt permitted subject to: (i) maximum combined LTV of 80%; (ii) minimum combined Underwritten Debt Service Coverage Ratio of 1.15x; (iii) execution of an intercreditor agreement; and (iv) no event of default | NAP | 58.5% | 1.41x | 9.2% | 58.5% | 1.41x | 9.2% |
A-1-15 |
CSMC 2016-NXSR
FOOTNOTES TO ANNEX A
(1) | “Column” denotes Column Financial, Inc. as Mortgage Loan Seller, “Natixis” denotes Natixis Real Estate Capital LLC as Mortgage Loan Seller , and “UBSAG” denotes UBS AG as Mortgage Loan Seller. |
With regards to Loan No. 3, Gurnee Mills, the Gurnee Mills Whole Loan (as defined below) was co-originated by Wells Fargo Bank, National Association, Regions Bank, and Column. | |
With regards to Loan No. 5, Walgreens Portfolio I, the Walgreens Portfolio I Whole Loan (as defined below) was originated by Cantor Commercial Real Estate Lending, L.P. | |
With regards to Loan No. 7, Wolfchase Galleria, the Wolfchase Galleria Whole Loan (as defined below) was co-originated by Morgan Stanley Bank, N.A. | |
With regards to Loan No. 8, Walgreens Portfolio V, the Walgreens Portfolio V Whole Loan (as defined below) was originated by Cantor Commercial Real Estate Lending, L.P. | |
With regards to Loan No. 13, 681 Fifth Avenue, the 681 Fifth Avenue Whole Loan (as defined below) was co-originated by Citigroup Global Markets Realty Corp. | |
(2) | For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Current Balance ($), and Maturity Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation. |
(3) | With regards to Loan No. 1, Novo Nordisk, the mortgage loan is part of a $168.3 million whole loan (the “Novo Nordisk Whole Loan”), which has a maximum principal balance of approximately $207.9 million and is comprised of thirteen pari passu component notes (Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8, Note A-9, Note A-10, Note A-11, Note A-12 and Note A-13). Note A-1, Note A-7, Note A-8, and Note A-9 (the “Novo Nordisk Mortgage Loan”), which have an aggregate outstanding principal balance as of the cut-off date of $60.0 million, are being contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-2 is currently unfunded and the obligation to fund Note A-2 will be the sole responsibility of the holder of Note A-2 (currently Natixis), and will not be the responsibility of the trust. The holder of Note A-2 is required to make advances available for (i) approved tenant improvements and leasing commissions, which are estimated to be $16.6 million in connection with the exercise of Novo Nordisk Inc.’s right under its lease to take expansion space at the Novo Nordisk mortgaged property and (ii) earnout funds which are estimated to be $23.0 million. Note A-6, which has an outstanding principal balance of $20.0 million as of the cut-off date, is currently held by Natixis Real Estate Capital LLC and is expected to be contributed to the MSC 2016-UBS12 Commercial Mortgage Trust. Note A-3, Note A-4, Note A-5, Note A-11 and Note A-12, which have an aggregate outstanding principal balance as of the cut-off date of approximately $73.3 million, were contributed to the WFCM 2016-NXS6 Commercial Mortgage Trust. Note A-10 and Note A-13, which have an aggregate outstanding principal balance as of the cut-off date of approximately $15.0 million, are currently held by Natixis, and are expected to be contributed to one or more future securitizations. All loan level metrics are based on the $168.3 million funded portion of the Novo Nordisk Whole Loan balance. |
With regards to Loan No. 2, Rentar Plaza, the mortgage loan is part of a $132.0 million whole loan (the “Rentar Plaza Whole Loan”) comprised of fivepari passucomponent notes (Note A-1, Note A-2, Note A-3, Note A-4, and Note A-5). Note A-1 and Note A-4 (the “Rentar Plaza Mortgage Loan”), which have an aggregate outstanding principal balance as of the cut-off date of $60.0 million, are being contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-2 and Note A-3, which have an aggregate outstanding principal balance as of the cut-off date of $60.0 million, were contributed to the WFCM 2016-NXS6 Commercial Mortgage Trust. Note A-5, which has an outstanding principal balance as of the cut-off date of $12.0 million, is currently held by Natixis and is expected to be contributed to a future securitization. All loan level metrics are based on the $132.0 million Rentar Plaza Whole Loan balance. |
A-1-16 |
With regards to Loan No. 3, Gurnee Mills, the mortgage loan is part of a $275.0 million whole loan (the “Gurnee Mills Whole Loan”), which is comprised of sevenpari passu component notes (Note A-1A and Note A-1B, Note A-2A and Note A-2B, Note A-3A and Note A-3B, and Note A-4). Note A-1B and Note A-3A (the “Gurnee Mills Mortgage Loan”), which have an aggregate outstanding principal balance as of the cut-off date of approximately $59.8 million, are expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-1A, which has an outstanding principal balance as of the cut-off date of approximately $74.8 million, was contributed to the CSAIL 2016-C7 Commercial Mortgage Trust. Note A-2A, which has an outstanding balance as of the cut-off date of approximately $79.8 million, was contributed to WFCM 2016-C36 Commercial Mortgage Trust. Note A-2B, which has an outstanding principal balance as of the cut-off date of approximately $24.9 million, is held by Wells Fargo Bank, National Association. Note A-3B and Note A-4, which have an aggregate outstanding principal balance as of the cut-off date of approximately $34.9 million, are currently held by Regions Bank. All loan level metrics are based on the Gurnee Mills Whole Loan balance. | |
With regards to Loan No. 4, QLIC, the mortgage loan is part of a $165.0 million whole loan (the “QLIC Whole Loan”), which is comprised of sixpari passu senior notes (Note A-1, Replacement Note A-2, Note A-3, Note A-4, Note A-5, and Note A-6) and a $20.0 million subordinate B-Note. Note A-1 and Note A-6 (the “QLIC Mortgage Loan”), which have an aggregate outstanding principal balance as of the cut-off date of $50.0 million, are being contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Replacement Note A-2 and Note A-3, which have an aggregate outstanding principal balance as of the cut-off date of $75.0 million, were contributed to the WFCM 2016-NXS6 Commercial Mortgage Trust. Note A-4 and Note A-5, which have an aggregate outstanding principal balance as of the cut-off date of $20.0 million, are currently held by Natixis and are expected to be contributed to one or more future securitizations. As of the closing date for this securitization, the subordinate B-note is held by SM Core Credit Finance LLC. All loan level metrics are based on the $145.0 million senior portion of the QLIC Whole Loan balance. | |
With regards to Loan No. 7, Wolfchase Galleria, the mortgage loan is part of a $165.0 million whole loan (the “Wolfchase Galleria Whole Loan”), which is comprised of eightpari passu component notes (Note A-1-1, Note A-1-2, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, and Note A-7). Note A-6 and Note A-7 (the “Wolfchase Galleria Mortgage Loan”), which have an aggregate outstanding principal balance as of the cut-off date of approximately $30.0 million, are expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-1-1 and Note A-3, which have an aggregate outstanding principal balance as of the cut-off date of approximately $69.9 million, are expected to be contributed to the MSC 2016-UBS12 Commercial Mortgage Trust. Notes A-1-2, A-2, A-4, and A-5, which have an aggregate outstanding principal balance as of the cut-off date of approximately $64.9 million, are expected to be contributed to one or more future securitizations. All loan level metrics are based on the Wolfchase Galleria Whole Loan balance. | |
With regards to Loan No. 9, Federal Way Crossings, the mortgage loan is part of a $58.0 million whole loan (the “Federal Way Crossings Whole Loan”), which is comprised of fivepari passu component notes (Note A-1, Note A-2, Note A-3, Note A-4, and Note A-5). Note A-2 and Note A-5 (the “Federal Way Crossings Mortgage Loan”), which have an outstanding principal balance as of the cut-off date of approximately $25.5 million, are expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Notes A-1, A-3, and A-4, which have an aggregate outstanding principal balance as of the cut-off date of approximately $32.5 million, are expected to be contributed to the MSC 2016-UBS12 Commercial Mortgage Trust. All loan level metrics are based on the Federal Way Crossings Whole Loan balance. | |
With regards to Loan No. 10, Greenwich Office Park, the mortgage loan is part of an $87.5 million whole loan (the “Greenwich Office Park Whole Loan”), which is comprised of threepari passu component notes (Note A-1, Note A-2, and A-3). A $10.0 million mezzanine note exists that is subordinate to the Greenwich Office Park Whole Loan. Note A-2 (the “Greenwich Office Park Mortgage Loan”), which has an outstanding principal balance as of the cut-off date of $25.0 million, is expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-1, which has an outstanding principal balance as of the cut-off date of $33.0 million, is expected to be contributed to the MSC 2016-UBS12 securitization trust. Note A-3, which has an outstanding principal balance as of the cut-off date of $29.5 million, is currently held by Natixis and is expected to be contributed to a future securitization. As of the closing date for this securitization, the mezzanine note is held by SBAF Mortgage Funding I/Holding – Greenwich Office Park LLC (FL). All loan level metrics are based on the Greenwich Office Park Whole Loan balance and exclude the mezzanine loan balance. |
A-1-17 |
With regards to Loan No. 12, MY Portfolio, the mortgage loan is part of a $30.0 million whole loan (the “MY Portfolio Whole Loan”), which is comprised of twopari passu component notes (Note A-1 and Note A-2). Note A-2 (the “MY Portfolio Mortgage Loan”), which has an outstanding principal balance as of the cut-off date of approximately $19.9 million, is expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-1, which has an outstanding principal balance as of the cut-off date of approximately $10.0 million, was previously contributed to the MSBAM 2016-C31 Commercial Mortgage Trust. All loan level metrics are based on the MY Portfolio Whole Loan balance. | |
With regards to Loan No. 13, 681 Fifth Avenue, the mortgage loan is part of a $215.0 million whole loan (the “681 Fifth Avenue Whole Loan”), which is comprised of sixpari passu component notes (Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, and Note A-6). Note A-3 (the “681 Fifth Avenue Mortgage Loan”), which has an outstanding principal balance as of the cut-off date of $15.0 million, is expected to be contributed to the CSMC 2016-NXSR Commercial Mortgage Trust. Note A-1, which has an outstanding principal balance as of the cut-off date of $80.0 million, is expected to be contributed to the MSC 2016-UBS12 Commercial Mortgage Trust. Note A-2 and Note A-4, which have an aggregate outstanding principal balance as of the cut-off date of $34.0 million, are currently held by UBS AG, New York Branch and are expected to be contributed to one or more future securitization trusts. Note A-5 and Note A-6, which have an aggregate outstanding principal balance as of the cut-off date of $86.0 million, are currently held by Citigroup Global Markets Realty Corp. and are expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the 681 Fifth Avenue Whole Loan balance. | |
(4) | In certain cases, the Principal / Carveout Guarantor name was shortened for spacing purposes. |
With regards to Loan No. 3, Gurnee Mills, the liability of Simon Property Group, L.P. (or any guarantor that replaces Simon Property Group, L.P. in accordance with the loan agreement) under the nonrecourse carve-out guaranty is capped at $55.0 million plus reasonable collection costs. | |
With regards to Loan No. 7, Wolfchase Galleria, for so long as Simon Property Group, L.P. is a guarantor, the liability of Simon Property Group, L.P. or a replacement guarantor (as defined in the Mortgage Loan documents) under the related guaranty may not exceed $33.0 million, in the aggregate, plus all of the reasonable out-of-pocket costs and expenses (including court costs and reasonable attorneys’ fees) incurred by the lender in the enforcement of such guaranty or the preservation of the lender’s rights thereunder. | |
With regards to Loan No. 10, Greenwich Office Park, the guarantor has provided a recourse guaranty with a maximum liability of $13,115,587, which maximum liability is reduced upon the partial defeasance of the portion of the loan allocable to one or both parcels comprising a portion of the Greenwich Office Park mortgaged property that are subject to a ground lease. The maximum liability under the guaranty at origination was approximately 15% of the initial principal balance of the Greenwich Office Park Whole Loan, and we cannot assure you that such guaranty would not be considered by a bankruptcy court as a significant factor in determining whether to substantively consolidate the assets and liabilities of the Mortgagor with those of the guarantor. | |
(5) | With regards to Loan No. 10, Greenwich Office Park, the borrower’s leasehold interest in each of Building 8 and Building 9, is held under separate 99-year ground leases that expire in 2076. The Building 8 ground rent resets at 20 year intervals, with the next reset scheduled to occur in December 2017. Under the Building 8 ground lease, the new annual ground rent is calculated as the original ground rent ($50,000 per annum) plus 25% of any increase in office tenant rental income (excluding recoveries) over the same three years after the certificate of occupancy was issued. The Building 9 ground rent is scheduled to increase from $34,385 per annum to $39,543 per annum for the 10-year period in 2023. Under the ground lease for Building 9, all future escalations will be determined by agreement by and between ground lessor and the borrower incorporating commercially reasonable escalators to become effective at commercially reasonable intervals. |
With regards to Loan No. 14, Courtyard Cromwell, the collateral includes the leased-fee interest in a Chili’s Grill & Bar located on a 1.3 acre parcel in the southeast corner of the 5.65 acre site, which is owned by the borrower. The Chili’s Grill and Bar lease was signed in 2006 and was originally due to expire February 28, 2017. The lease has four five-year extensions, and the tenant has exercised the first extension resulting in an expiration date of February 28, 2022. The base annual rent is $110,000 ($121,000 in the first extension period) plus 3% of gross receipts in excess of $3.667 million ($4.033 million during the first extension period) plus the proportionate share of real estate taxes. Actual rent was $172,817 in 2015 including the real estate taxes. |
A-1-18 |
In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but have not yet commenced paying rent and/or are not in occupancy. | |
(6) | In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but have not yet commenced paying rent and/or are not in occupancy. |
With regards to Loan No. 1, Novo Nordisk, the Novo Nordisk tenant currently occupies 69.4%, but UW occupancy reflects 78.0%, the total amount the Novo Nordisk tenant has leased and currently pays rent as a result of the tenant’s most recent expansion at the Novo Nordisk mortgaged property. | |
With regards to Loan No. 3, Gurnee Mills, UW Revenues, UW NOI, and UW NCF include space leased by Floor & Décor (105,248 SF, $974,000 base rent), Mini Donut Factory (1,015 SF, $28,000 base rent), Fragrance Outlet (1,011 SF, $72,792 base rent), and Scoops & Kettle (555 SF, $37,000 base rent). Per the underwritten rent roll, dated September 22, 2016, executed leases were in place for these tenants, but their leases had not started. As of November 1, 2016, all leases had started with the exception of Fragrance Outlet (December 1, 2016). | |
With regards to Loan No. 7, Wolfchase Galleria, UW Base Rent includes contractual rent steps equal to $207,732 through September 30, 2017, as well as $357,766 of rent associated with two tenants, which have signed leases but are not yet in occupancy (Footlocker / House of Hoops and Cinnabon, which in aggregate represent 2.4% of total NRA). UW Base Rent does not include percentage rent in lieu and overage rent totaling $403,204 as of the September 28, 2016 underwritten rent roll. | |
With regards to Loan No. 10, Greenwich Office Park, two tenants have outstanding free rent periods. The fifth largest tenant, Performance Equity Management LLC, responsible for 12,988 SF and 3.4% of the net rentable area, has free rent of $37,882 per month from December 2016 to March 2017. | |
(7) | For each mortgage loan, the excess of the related Interest Rate % over the related Servicing Fee Rate, the Trustee/Certificate Administrator Fee Rate, the Operating Advisor Fee Rate, the Asset Representations Review Fee and the CREFC® Intellectual Property Royalty License Fee Rate (collectively, the “Admin Fee %”). |
(8) | For loans with Anticipated Repayment Dates, the Remaining Loan Term and Maturity Date LTV are as of the related anticipated repayment date. |
With regards to Loan No. 1, Novo Nordisk, in the event the Novo Nordisk Whole Loan is not repaid in full by September 5, 2021 (the “ARD”), the interest rate will increase to the amount of the sum of (a) 3.4820% and (b) 3.0000% plus the amount (if any) by which the five-year treasury rate exceeds 2.5000% | |
With regards to Loan No. 5, Walgreens Portfolio I, in the event that the loan is not paid in full by December 1, 2026 (the “ARD”), the loan’s interest rate will increase to 3.0000% per annum plus the greater of (i) 4.5930% or (ii) the 10-year swap yield as of the first business day after the ARD. | |
With regards to Loan No. 8, Walgreens Portfolio V, in the event that the loan is not paid in full by December 1, 2026 (the “ARD”), the loan’s interest rate will increase to 3.0000% per annum plus the greater of (i) 4.5930% or (ii) the 10-year swap yield as of the first business day after the ARD. | |
With regards to Loan No. 15, Sterling Jewelers Corporate HQ III, in the event that the loan is not paid in full by November 5, 2026 (the “ARD”), the loan’s interest rate will increase by the sum of (i) 4.2900%, plus (ii) an amount equal to excess of the then current 10-year Treasury rate over 2% per annum, plus (iii) 3% per annum. | |
(9) | For the mortgage loans that are interest-only for the entire term and accrue interest on an Actual/360 basis, the Monthly Debt Service ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360. |
(10) | With regards to all mortgage loans, Annual Debt Service ($) is calculated by multiplying the Monthly Debt Service ($) by 12. |
A-1-19 |
(11) | The classification of the lockbox types is described in the Preliminary Prospectus. See “Description of the Mortgage Pool – Lockbox Accounts” for further details. |
(12) | Each number identifies a group of related borrowers. |
(13) | The UW NOI DSCR and UW NCF DSCR for all partial interest-only mortgage loans were calculated based on the first principal and interest payment after the interest-only period during the term of the mortgage loan. |
(14) | The “L” component of the prepayment provision represents lockout payments. |
The “Def” component of the prepayment provision represents defeasance payments. | |
The “YM1” component of the prepayment provision represents greater of 1% of principal balance or yield maintenance payments. | |
The “O” component of the prepayment provision represents the free payments including the Maturity Date. | |
(15) | With regards to Loan No. 5, Walgreens Portfolio I, the borrower may obtain the release from the lien of its respective mortgage of any individual mortgaged property provided, among other conditions, (i) the borrower prepays an amount equal to or exceeding the sum of (a) 120% of the allocated loan amount for the mortgaged property to be released or (b) in the event that the sole tenant at the mortgaged property to be released (x) ceases to operate or be open for business or (y) fails to restore the related mortgaged property after a casualty, 100% of the allocated loan amount for such mortgaged property, together with the applicable yield maintenance premium; (ii) the borrower delivers confirmation in writing from the rating agencies that such proposed partial release will not cause a downgrading, withdrawal, reduction or qualification of the ratings in effect immediately prior to such release for the securities, or any class thereof, issued in connection with a securitization which are then outstanding; (iii) after giving effect to the release of the applicable mortgaged property (including the portion of the mortgage loan prepaid), the debt service coverage ratio for the respective mortgaged properties then remaining subject to the liens based on the trailing 12 month period immediately preceding the release of the applicable mortgaged property are equal to or greater than the greater of (a) the debt service coverage ratio at origination of the loan, or (b) the debt service coverage ratio for all of the mortgaged properties then remaining subject to the liens of the respective security instruments (including the mortgaged property requested to be released) immediately preceding the release of the applicable mortgaged property based on the trailing 12 month period immediately preceding the release of the applicable mortgaged property and (iv) the loan to value ratio does not exceed 125% prior to, or immediately after the release of the applicable property. |
With regards to Loan No. 7, Wolfchase Galleria, the borrower is permitted to release an unimproved parcel of collateral adjacent to the Wolfchase Galleria mortgaged property, which parcel’s value was not underwritten and excluded from the appraisal provided certain customary conditions are met, including, but not limited to an updated survey, legal description, anti-poaching covenants are met if parcel is developed, and separate tax lot is established. | |
With regards to Loan No. 8, Walgreens Portfolio V, the borrower may obtain the release from the lien of its respective mortgage of any individual mortgaged property provided, among other conditions, (i) the borrower prepays an amount equal to or exceeding the sum of (a) 120% of the allocated loan amount for the mortgaged property to be released or (b) in the event that the sole tenant at the mortgaged property to be released (x) ceases to operate or be open for business or (y) fails to restore the related mortgaged property after a casualty, 100% of the allocated loan amount for such mortgaged property, together with the applicable yield maintenance premium; (ii) the borrower delivers confirmation in writing from the rating agencies that such proposed partial release will not cause a downgrading, withdrawal, reduction or qualification of the ratings in effect immediately prior to such release for the securities, or any class thereof, issued in connection with a securitization which are then outstanding; and (iii) after giving effect to the release of the applicable mortgaged property (including the portion of the mortgage loan prepaid), the debt service coverage ratio for the respective mortgaged properties then remaining subject to the liens based on the trailing 12 month period immediately preceding the release of the applicable mortgaged property are equal to or greater than the greater of (a) the debt service coverage ratio at origination of the loan, or (b) the debt service coverage ratio for all of the mortgaged properties then remaining subject to the liens of the respective security instruments (including the mortgaged property requested to be released) immediately preceding the release of the applicable mortgaged property based on the trailing 12 |
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month period immediately preceding the release of the applicable mortgaged property and (iv) the loan to value ratio does not exceed 125% prior to, or immediately after the release of the applicable property. | |
With regards to Loan No. 9, Federal Way Crossings, the borrower is permitted to release an immaterial and non-income producing portion of the Federal Way Crossings mortgaged property upon satisfaction of certain conditions as set forth in the loan agreement. | |
With regards to Loan No. 10, Greenwich Office Park, the borrower has the right to cause to be released from the lien of the mortgage portions of the Greenwich Office Park mortgaged property as requested by the Greenwich Office Park borrower (the “Free Release Parcel”) as approved by the lender in its sole and absolute discretion,provided the conditions in the loan documents are met including, among others: (i) no event of default has occurred and is continuing; (ii) following the release, the remaining mortgaged property will be in compliance with applicable legal requirements and all provisions of any leases of any portion of the related mortgaged property that are then in effect (including, without limitation, as to required parking spaces, restrictions on development, access and similar matters), and the Free Release Parcel will be subject to a restrictive covenant prohibiting the use or development thereof in any manner that violates any provision of any then-existing lease of the remaining property; (iii) the remaining property maintains a minimum combined debt service coverage ratio equal of the greater of (a) a combined debt service coverage ratio of 1.58x or (b) a combined debt service coverage ratio for the twelve full calendar months immediately prior to the release; (iv) the remaining property maintains a maximum combined loan to value ratio equal to the lesser of (a) the combined loan to value ratio of 72.8% or (b) the combined loan to value ratio immediately prior to the release; and (v) compliance with REMIC requirements. No value was attributed to the Free Release Parcel in the appraisal. The related borrower is only permitted to construct multi-family improvements with ancillary retail on that portion of unimproved land that is eligible to be released. Additionally, the borrower is permitted to partially defease the note in connection with a bona fide third-party sale of an improved portion of the Mortgaged Property subject to requirements in the Mortgage Loan documents, including, but not limited to, payment of an amount equal to the greatest of (a) one hundred percent (100%) of the net sale proceeds received from such sale, (b) one hundred twenty five percent (125%) of the allocated loan amount with respect to such release property, and (c) an amount such that, after giving effect to such partial release, (I) the post-defeasance debt service coverage ratio for the undefeased note, based on income from the remaining property, will not be less than the greater of (x) 1.58x and (y) the pre-defeasance debt service coverage ratio for the Note, based on income from both the release property and the remaining property, and (II) the post-defeasance loan-to-value ratio for the remaining property will not exceed the lesser of (x) 72.8% and (y) the pre-defeasance loan-to-value ratio for both the release property and the remaining property). | |
With regards to Loan No. 12, MY Portfolio, the borrower is permitted to obtain the release of an individual property at any time following the second anniversary of the Closing Date of the securitization, and prior to the payment date occurring three months prior to the maturity date, subject to the satisfaction of certain conditions, including, among other conditions: (i) the borrowers defease the loan in an amount equal to the greater of (a) 115% of the allocated loan amount of such released property and (b) an amount such that after giving effect to such release, (1) the debt service coverage ratio based on the immediately trailing twelve-month period is equal to or greater than the greater of (x) the debt service coverage ratio for all properties as of the closing of the loan and (y) the debt service coverage ratio immediately prior to the release, (2) the debt yield is equal to or greater than the greater of (x) the deby yield for all properties as of the closing of the Loan and (y) the debt yield immediately prior to the release and (3) the loan-to-value ratio is no greater than the lesser of (x) the LTV for all properties as of the closing of the loan and (y) the loan-to-value ratio immediately prior to the release, (ii) delivery of a rating agency confirmation and (iii) delivery of a REMIC opinion that such release is permitted under REMIC requirements. | |
With regards to Loan No. 15, Sterling Jewelers Corporate HQ III, the borrower is entitled to obtain the one-time release of a certain parcel of real property of the Sterling Jewelers Corporate HQ III mortgaged property provided, among other conditions: (i) there is no event of default; (ii) at the time of the partial release the borrower (a) delivers $175,000 or (b) deposits the $175,000 with the lender to establish a reserve to be additional collateral for the debt; (iii) the loan to value immediately following the partial release does not exceed the lesser of (a) 60.0% or (b) the loan to value immediately preceding the partial release; and (iv) the remaining parcel will satisfy all legal requirements and the requirements of all leases affecting the remaining parcel and will not be in violation of any applicable legal requirements and all necessary variances have been obtained. The portion of the Sterling Jewelers Corporate HQ III mortgaged property that may be released contains only parking spaces. |
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With regards to Loan No. 24, Best Western Plus Atlanta Airport-East, the borrower is entitled to obtain the one-time release of a certain parcel of real property of the Best Western Plus Atlanta Airport-East mortgaged property provided, among other conditions: (i) there is no event of default; (ii) the debt service coverage at time of release is not less than the greater of (a) 1.95x and (b) the debt service coverage immediately preceding the partial release; (iii) the loan-to-value at the time of the partial release does not exceed the lesser of (a) the loan-to-value immediately preceding the partial release and (b) 60.8%; and (iv) the remaining parcel will satisfy all legal requirements and the requirements of all leases affecting the remaining parcel and will not be in violation of any applicable legal requirements and all necessary variances have been obtained. The portion of the property that may be released is improved with parking spaces and a building pad. | |
(16) | With regards to Loan No. 4, QLIC, certain historical financial information was not available due to the completion of the construction of the QLIC mortgaged property in September 2015. |
With regards to Loan No. 5, Walgreens Portfolio I, certain historical information was not available due to the acquisition of the mortgaged properties occurring in November 2016. | |
With regards to Loan No. 6, Embassy Suites - Hillsboro, certain historical information was not available due to the construction of the Embassy Suites – Hillsboro mortgaged property occurring in 2014. | |
With regards to Loan No. 8, Walgreens Portfolio V, certain historical information was not available due to the acquisition of the mortgaged properties occurring in November 2016. | |
With regards to Loan No. 12, MY Portfolio, certain historical information was not available for the Holiday Inn Express – Covington Property due to the construction of this mortgaged property occurring in 2014. | |
With regards to Loan No. 16, Shelby Air Park, certain historical financial information was not available due to the acquisition of the property occurring September 2016. | |
With regards to Loan No. 22, Jameel Road & Kirkwood Center, financial information from October 1, 2015 through October 26, 2015 was not available due to the acquisition of the mortgaged properties occurring on October 26, 2015. Most Recent Revenue, Most Recent Expenses and Most Recent NOI represent the trailing 12-months ending August 31, 2016, which excludes October 2015’s operating financials and instead uses trailing 2-month operating financials between August 2015 and September 2015 and trailing 10-month operating financials from November 2015 to August 2016. | |
(17) | With regards to Loan No. 1, Novo Nordisk, UW Revenues includes averaged rent during the loan term through the anticipated repayment date (the “ARD”) date for the investment grade tenant, Novo Nordisk Inc., whose lease expires approximately 10 years beyond the ARD. |
With regards to Loan No. 15, Sterling Jewelers Corporate HQ III, UW Revenues includes averaged rent during the loan term through the ARD date for the investment grade tenant, Sterling Jewelers Inc., whose lease expires 21 years beyond the ARD. | |
With regards to Loan No. 22, Jameel Road & Kirkwood Center, the UW Capital Items include a $5,000 adjustment which represents credit for the Upfront TI/LC Reserve of $50,000, collected at closing and averaged over the 10-year loan term. The reserve is expected to be used for general tenant improvements and leasing commissions at the mortgaged properties. | |
(18) | With regards to the footnotes hereto, no footnotes have been provided with respect to tenants that are not among the five largest tenants by SF for any Mortgaged Property. |
(19) | In certain cases, the data for tenants occupying multiple spaces includes SF for all leases and is presented with the expiration date of the largest SF expiring. |
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(20) | The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease with respect to all or a portion of its leased space 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 subject lease |
With regard to Loan No. 2, Rentar Plaza, the second largest tenant, Middle Village Associates, subleases 88.1% of its space to 15 tenants for a total annual base rent of $4,400,639 ($16.61 per SF). The terms of the three largest subtenants are as follows: (i) BJ’s Wholesale Club, Inc., representing 135,254 SF space for a total annual base rent of $2,583,351 ($19.10 PSF expiring on September 30, 2024); (ii) Alfa Management Group, Inc., representing 27,378 SF space for a total annual base rent of $492,000 ($17.97 per SF expiring on October 31, 2023); and (iii) Jennifer Convertibles, Inc. representing 11,700 SF space for a total annual base rent of $269,100 ($23.00 per SF expiring on June 30, 2025). | |
With regard to Loan No. 2, Rentar Plaza, the fifth largest tenant, City of New York – DOT, may terminate its lease any time upon providing 180 days’ prior written notice to the landlord and payment of the unamortized amount of the landlord’s share of work costs based on a straight line amortization over the first 10 years of the lease term. | |
With regards to Loan No. 7, Wolfchase Galleria, the second largest tenant, The Finish Line, has a co-tenancy clause if either (i) less than three major tenants (a major tenant being defined as a single tenant occupying at least 50,000 contiguous SF under one trade name) are operating in the mall for 18 consecutive months or (ii) the occupancy, excluding major tenants, falls below 75.0% for 12 consecutive months, then the tenant may terminate the lease upon 30 days’ notice. | |
With regards to Loan No. 7, Wolfchase Galleria, the third largest tenant, Victoria’s Secret, has a co-tenancy clause if (i) less than 70.0% of non-department store premises are open and operating, or (ii) less than three department store premises remain open and operating and either such co-tenancy violation persists for one year, then the tenant may terminate the lease. | |
With regards to Loan No. 7, Wolfchase Galleria, the fourth largest tenant, Forever 21, has a co-tenancy clause if (A) either (i) fewer than three major tenants (defined as a single tenant occupying at least 40,000 contiguous SF operating under a single trade name) are open and doing business for a period of more than 180 days or (ii) less than 75.0% of the non-major tenants are open and doing business for more than 60 days, and (B) during the applicable 180-day or 60-day period the tenant’s adjusted gross sales decline by at least 7.0%. If the co-tenancy provision is violated, then if the violation continues for 12 consecutive months, then tenant has the right to terminate the lease upon 120 days’ notice. | |
With regards to Loan No. 7, Wolfchase Galleria, the fifth largest tenant, Charming Charlie, has a co-tenancy clause if (i) fewer than two major tenants (a major tenant being defined as a single tenant occupying at least 25,000 contiguous SF) are open, or (ii) less than 50.0% of the non-major tenants area is occupied and (iii) the co-tenancy condition continues for six consecutive months, and tenant sales decrease by 20.0%, then the tenant may pay alternate rent in the amount of 7.0% of gross monthly sales in lieu of base rent, percentage rent and all additional rent. If the co-tenancy condition continues for an additional 12 consecutive months then the tenant may terminate the lease upon 30 days’ notice. | |
With regards to Loan No. 9, Federal Way Crossings, the fourth largest tenant, Office Depot, Inc., may terminate its lease by giving notice on or before the earlier of the date that is 12 months after expiration of the Replacement Period and the date on which the on-going co-tenancy requirement has been satisfied, with termination effective 30 days after the date the landlord receives the termination notice. The “Replacement Period” is defined as the additional six months that Sportsman’s Warehouse, the largest tenant, or a replacement tenant chain store with at least 5 stores doing business under the same trade name and occupying at least 20,000 SF of Sportsman’s Warehouse’s original premises, is not operating after 60 consecutive days followed by a six month period during which time Office Depot, Inc. pays abated minimum rent. | |
With regards to Loan No. 9, Federal Way Crossings, the fifth largest tenant, Jimmy Mac’s Roadhouse, has a co-tenancy clause if tenants occupying 50.0% or more of the retail floor area as of the lease commencement date fail to continue to operate their premises and close for a continuous period of 180 consecutive days (“Cure Period”) and Jimmy Mac’s Roadhouse’s gross sales decrease by 15.0% or more, in the aggregate, during the Cure Period, and if the co-tenancy event continues for more than 12 months following expiration of the Cure |
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Period, Jimmy Mac’s Roadhouse may terminate its lease with 30 days’ notice given on or before the date that is 30 days following expiration of the 12-month period and prior to the date the co-tenancy event no longer occurs. | |
With regard to Loan No.10, Greenwich Office Park, the largest tenant, IBG LLC, may terminate its lease upon providing written notice of at least eight months. The tenant must pay a termination fee that decreases by approximately $26,000 each month. The current termination fee, for a termination effective August 1, 2017, is $1,626,919. The last termination option, for a termination effective date of December 1, 2018, requires a termination fee of $1,205,743. | |
With regard to Loan No. 10, Greenwich Office Park, the fifth largest tenant, Performance Equity Management LLC, has a one-time right to terminate its lease in March 2023 with at least 12 months’ prior written notice and a termination fee equal to the unamortized portion of the construction allowance, free rent, and leasing commissions with 8% annual interest. | |
With regards to Loan No. 11, Great Falls Marketplace, the largest tenant, Smith’s Food & Drug, may terminate the lease with respect to a portion of the Great Falls Marketplace mortgaged property improved by a fuel center facility upon written notice to the borrower during the first 5 years of the lease term. No time period for the giving of such termination notice is set forth in the lease. If such termination option is exercised, Smith's Food & Drug is required to remove the improvements on the related portion of the mortgaged property, clear the site of all debris and return the site to the borrower to be used as part of the common area. In connection with such restoration, Smith's Food & Drug is required to have a Phase I environmental site assessment prepared. Notwithstanding any such termination, Smith's Food & Drug will remain obligated to pay the borrower any rent for such portion of the mortgaged property until the later of: (i) the 5th anniversary of the lease commencement date or (ii) the completion of the aforementioned removal and restoration. | |
With regards to Loan No. 11, Great Falls Marketplace, the third largest tenant, Office Max, has a co-tenancy clause if for 18 or more consecutive months less than three major tenants are occupying and/or operating their respective space for any reason excluding temporary periods resulting from casualty for greater than 180 consecutive days, Office Max may terminate its lease upon 90 days’ notice unless three major tenants are open and operating within 90 days after the landlords’ receipt of the termination notice. Major tenants include tenants occupying at least 18,000 SF. | |
With regards to Loan No. 11, Great Falls Marketplace, the fourth largest tenant, Michaels Arts & Crafts, has a co-tenancy clause if more than two anchor tenants, excluding Michaels Arts & Crafts, have failed to be open and continuously operate in the Great Falls Marketplace mortgaged property. An anchor tenant is defined as: (i) Smith's Food & Drug, Carmike Cinema, Office Max, Barnes & Noble, and Old Navy (ii) a replacement or successor tenant to one of the original anchor tenants, provided such replacement or successor tenants is comparably sized to its predecessor and operates a business substantially similar to the original anchor tenants, (iii) assignees or sublessees of one of the original anchor tenants, regardless of the use made of the applicable premises to the extent the landlord does not have the right to consent to a change in the use of such applicable premises, or (iv) a tenant occupying at least 20,000 leasable SF and which (a) on a regional or national basis, operates under the same trade name at least ten high quality retail stores in a manner consistent with a first class retail shopping center in the Great Falls, Montana metropolitan area and (b) operates as one of the following: (i) full line department store, (ii) junior department stores, (iii) soft good store, (iv) supermarket, (v) sporting goods store, (vi) home improvements store, (vii) catalog store, (viii) drug store, (ix) toy superstore, (x) electronic equipment/appliance superstore, (xi) office supply store, or (xii) warehouse department store. If the co-tenancy requirement is not satisfied for a period of 12 months beyond expiration of the 180-day period, Michaels Arts & Crafts may terminate by providing 180 days' notice. | |
With regards to Loan No. 11, Great Falls Marketplace, the fifth largest tenant, Barnes & Noble, has a co-tenancy clause if more than two tenants individually occupying greater than 20,000 SF permanently discontinue operations (other than a temporary closure for a reasonable period of time due to casualty, cause or event involving force majeure, remodeling or impending subletting or assignment) and a new tenant does not replace one of such closed tenants within 6 months from the date that the 3rd such tenant closed for business, and if a new tenant does not replace one of such closed tenants within one year from the date the 3rd tenant closed for business, Barnes & Noble may terminate effective upon 60 days after giving notice. | |
With regards to Loan No. 13, 681 Fifth Avenue, MCM Products USA, Inc. is currently subleasing Belstaff USA’s 5,835 SF suite on the 10th floor, which has a lease expiration date of February 12, 2017. |
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With regards to Loan No. 13, 681 Fifth Avenue, Forall USA is currently subleasing Belstaff USA’s 5,835 SF suite on the 8th floor, which has a lease expiration date of March 31, 2022. | |
With regard to Loan No. 16, Shelby Air Park, the largest tenant, DYK Automotive, LLC, has a one-time right to terminate its lease on March 31, 2023, with nine months’ notice pursuant to tenant paying a termination fee of $250,000. | |
With regard to Loan No. 16, Shelby Air Park, the third largest tenant, Mercury Printing Company, Inc., has a one-time right to terminate 30,000 SF on May 20, 2017, with six months’ notice pursuant to tenant paying a termination fee of three months’ rent plus unamortized leasing costs. | |
With regard to Loan No. 16, Shelby Air Park, the fourth largest tenant, JAS Forwarding, Inc., has a one-time right to terminate its lease on November 30, 2018, with six months’ notice pursuant to tenant paying a termination fee of two months’ rent plus unamortized TI/LCs (straight-lined at 8%). | |
With regard to Loan No. 19, Fedex Plaza, the largest tenant, Vision Works, has a co-tenancy requirement that is violated upon less than 75% of the gross leasable area at the Fedex Plaza mortgaged property being open for business and a termination option if the threshold is not met within six months of violation. | |
With regard to Loan No. 19, Fedex Plaza, the fourth largest tenant, Sleepy’s Inc., can terminate the lease if their exclusive use is violated for more than 12 months. | |
With regards to Loan No. 26, Wilmington Industrial Park, the largest tenant, PC Connections, Inc. has a one-time early termination option effective August 31, 2022, which requires six months prior notice and the tenant’s repayment of all unamortized tenant improvements, leasing commissions and legal expenses associated with the lease. | |
With regards to Loan No. 29, 534 Flatbush Ave-Brooklyn, the largest tenant, Taqueria “El Patron” Mexican Grill, and the third largest tenant, IX Coffee Shop, can terminate their respective leases after January 1, 2017 with 60 days’ notice. | |
(21) | Represents the upfront and monthly amounts required to be deposited by the borrower. The monthly collected amounts may be increased or decreased pursuant to the terms of the related mortgage loan documents. In certain cases, reserves with $0 balances are springing and are collected in the event of certain conditions being triggered in the respective mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being triggered in the respective mortgage loan documents. |
With regards to Loan No. 1, Novo Nordisk, the monthly insurance reserve is waived as long as (i) the Novo Nordisk Inc. (“Novo”) lease is in full force and effect and Novo is the sole tenant at the Novo Nordisk mortgaged property, (ii) Novo is obligated to pay the insurance premiums directly pursuant to the terms of the Novo lease and the insurance requirements and coverages set forth under the Novo lease have not been modified and are acceptable to administrative agent, (iii) there is no event of default existing under the Novo Nordisk Whole Loan beyond any applicable notice and cure period, (iv) there is no monetary default or material nonmonetary default under the Novo lease, (v) Novo Nordisk A/S maintains a long-term unsecured credit rating by a S&P or Moody’s of at least BBB- or the equivalent rating, and (vi) the borrower provides the administrative agent with evidence of timely payment of such insurance premiums. The borrower is required to provide the administrative agent with evidence reasonably satisfactory to the administrative agent that (i) all insurance that the borrower, as landlord under the Novo lease, is responsible to maintain, including but not limited to any expansion space, pursuant to the Novo lease, is in full force and effect and (ii) all insurance that the borrower, as tenant under the lease for the adjacent helipad (the “Helistop Lease”), is responsible to maintain, pursuant to the Helistop Lease, is in full force and effect. The rent on the Helistop Lease was a one-time payment in 2004 of $100 for an initial term of fifteen years that extended through July 29, 2019. | |
With regards to Loan No. 2, Rentar Plaza, the monthly insurance reserve is waivedprovided that (i) the borrower deposits and maintains an amount equal to four months’ worth of such deposits; (ii) no event of default has occurred and is continuing; (iii) insurance is provided via one or more blanket insurance policies; and (iv) the |
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borrower provides evidence reasonably satisfactory to the lender with timely proof of payment of insurance premiums. | |
With regards to Loan No. 3, Gurnee Mills, ongoing reserves for taxes are not required as long as (i) no lockbox event period, as defined in the loan agreement, exists; and (ii) the borrower (a) pays all taxes prior to the assessment of any late payment penalty and the date that such taxes become delinquent and (b) upon request, provides the lender with satisfactory evidence of such payment of taxes. Ongoing reserves for insurance are only required during a lockbox event period if the borrower does not provide satisfactory evidence that the Gurnee Mills mortgaged property is insured under an acceptable blanket policy. Ongoing replacement reserves are not required as long as no lockbox event period exists. Following the occurrence and during the continuance of a lockbox event period, the borrower is required to deposit $29,926 per month for replacement reserves. Ongoing reserves for tenant improvements and leasing commissions (“TI/LC”) are not required as long as no lockbox event period exists. Following the occurrence and during the continuance of a lockbox event period, the borrower is required to deposit $94,204 per month for TI/LC reserves. | |
With regards to Loan No. 4, QLIC, the loan documents do not require monthly escrows for insuranceprovided that (i) no event of default has occurred and is continuing; (ii) the insurance required to be provided by the borrower is maintained pursuant to one or more blanket insurance policies; and (iii) the borrower provides the lender with timely proof of payment of insurance premiums. | |
With regards to Loan No. 5, Walgreens Portfolio I, the tax escrows are springing upon (i) if the Major Tenant (as defined in the Loan Agreement) lease is no longer in full force and effect, (a) no event of default under the loan then exists, (b) the debt service coverage ratio, based on the trailing three-month period immediately preceding the date of such determination is equal to or greater than 1.55x, and (c) the borrower provides to the lender prior to the date on which such taxes would be delinquent, evidence satisfactory (as determined by the lender) that such taxes have been paid, or (ii) if the Major Tenant lease remains in full force and effect, (a) no event of default under the loan then exists, (b) the Major Tenant is required under each Major Tenant lease to pay, and does pay, taxes directly to the appropriate public office (and the lender, upon written request, receives evidence of such payment), and (c) no event of default (after applicable notice and cure periods) exists under such Major Tenant lease. The insurance escrows are waived so long as (i) the borrower maintains blanket policies in accordance with the loan documents or (ii) the Major Tenant self-insures pursuant to the terms of the loan documents. | |
With regards to Loan No. 6, Embassy Suites – Hillsboro, upon the occurrence of a Future PIP Trigger Event (as defined below), the remaining cash flow will be deposited into the PIP reserve account. The funds on deposit in the PIP reserve account will be made available from time to time to pay for costs and expenses (including progress payments) incurred in connection with the performance of the applicable property improvement plan. For purposes hereof, a “Future PIP Trigger Event” will occur: (i) if the franchisor or borrower gives notice of its intention to terminate or cancel or not extend or renew the franchise agreement, (ii) 12 months prior to the then applicable expiration date under the franchise agreement, (iii) if an event of default by the borrower or an affiliate of the borrower occurs under the franchise agreement, (iv) if an event of default by the franchisor occurs under the franchise agreement, (v) if bankruptcy or insolvency of the franchisor occurs or (vi) if the franchisor requires the borrower to perform any PIP. | |
With regards to Loan No. 7, Wolfchase Galleria, during the continuation of a Lockbox Event Period (as defined below), a monthly escrow for rent and other charges payable under any taxes, insurance premiums (unless required coverages are provided pursuant to a blanket insurance policy reasonably acceptable to the lender), and other assessments (if any) will be required. A “Lockbox Event Period” means the period (i) commencing upon an event of default under the Wolfchase Galleria Whole Loan and ending upon the acceptance by the lender, in its sole discretion, of a cure of such event of default, or (ii) commencing on the date upon which the debt service coverage ratio on the Wolfchase Galleria Whole Loan for the immediately preceding four calendar quarters is less than 1.40x for two consecutive calendar quarters (a “DSCR Trigger Event”), and ending on the date the debt service coverage ratio on the Wolfchase Galleria Whole Loan for the immediately preceding four calendar quarters equals or exceeds 1.40x for two consecutive calendar quarters. | |
With regards to Loan No. 8, Walgreens Portfolio V, the tax escrows are springing upon (i) if the Major Tenant (as defined in the Loan Agreement) lease is no longer in full force and effect, (a) no event of default under the loan then exists, (b) the debt service coverage ratio, based on the trailing three-month period immediately preceding the date of such determination is equal to or greater than 1.55x, and (c) the borrower provides to the lender prior |
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to the date on which such taxes would be delinquent, evidence satisfactory (as determined by the lender) that such taxes have been paid, or (ii) if the Major Tenant lease remains in full force and effect, (a) no event of default under the loan then exists, (b) the Major Tenant is required under each Major Tenant lease to pay, and does pay, taxes directly to the appropriate public office (and the lender, upon written request, receives evidence of such payment), and (c) no event of default (after applicable notice and cure periods) exists under such Major Tenant lease. The insurance escrows are waived so long as (i) the borrower maintains blanket policies in accordance with the loan documents or (ii) the Major Tenant self-insures pursuant to the terms of the loan documents. | |
With regards to Loan No. 12, MY Portfolio, the borrower is required to deposit, as monthly capital expenditures, (a) with respect to the Candlewood Suites – Slidell mortgaged property, Comfort Suites - Gonzales mortgaged property, the Holiday Inn - Vicksburg mortgaged property and the LaQuinta Inn & Suites - Vicksburg mortgaged property, an amount equal to the greater of (i) 1/12 of 4% of gross income from operations during the calendar year immediately preceding the calendar year in which such monthly payment date occurs, and (ii) the aggregate amount, if any, required to be reserved under the management agreement and the applicable franchise agreement; and (b) with respect to the Holiday Inn Express – Covington mortgaged property and the Holiday Inn Express - New Orleans mortgaged property, an amount equal to the greater of (i)(A) during the first 2 years of the loan term, 1/12 of 2% of gross income from operations during the calendar year immediately preceding the calendar year in which such monthly payment date occurs, (B) during the third year of the loan term, 1/12 of 3% of gross income from operations during the calendar year immediately preceding the calendar year in which such monthly payment date occurs, and (C) after the third year of the loan term and during each year for the remainder thereof, 1/12 of 4% of gross income from operations during the calendar year immediately preceding the calendar year in which such monthly payment date occurs, and (ii) the aggregate amount, if any, required to be reserved under the management agreement and the franchise agreement. | |
With regards to Loan No. 12, MY Portfolio, upon the occurrence of a Future PIP Trigger Event, the remaining cash flow will be deposited into the future PIP reserve account. The funds on deposit in the future PIP reserve account will be made available from time to time to pay for costs and expenses (including progress payments) incurred in connection with the performance of the applicable future PIP. For purposes hereof, a “Future PIP Trigger Event“ will occur: (i) if the franchisor or borrower gives notice of its intention to terminate or cancel or not extend or renew any franchise agreement, (ii) 12 months prior to the then applicable expiration date under any franchise agreement, (iii) if an event of default occurs under any franchise agreement, (iv) if bankruptcy or insolvency of any franchisor occurs or (v) if any franchisor requires any borrower to perform any PIP. | |
With regards to Loan No. 13, 681 Fifth Avenue, at origination the borrower was required to escrow remaining rent concessions of $250,262 for MCM for the February 14, 2017 through September 15, 2017 period. | |
With regards to Loan No. 14, Courtyard Cromwell, the Monthly Furniture, Fittings and Equipment Reserve will be adjusted based on monthly operating statements for the Courtyard Cromwell mortgaged property and will be an amount of 4.0% of gross revenue for the immediately preceding calendar month. | |
With regards to Loan No. 15, Sterling Jewelers Corporate HQ III, the monthly tax and insurance escrow is waivedprovided that (i) no event of default exists under the related loan agreement; (ii) the primary tenant pays all taxes and insurance premiums directly pursuant to the mortgage loan documents; (iii) the borrower delivers to the lender copies of all bills for taxes and insurance premiums as they are received; (iv) the lender has received evidence reasonably satisfactory that taxes and insurance premiums have been paid as and when required pursuant to the terms and provisions of the loan agreement; (v) the primary tenant lease is in full force and effect; (vi) the primary tenant maintains insurance in compliance with the requirements set forth in the mortgage loan documents and delivers evidence of such compliance to the lender; and (vii) unless the primary tenant is a subsidiary of Signet Jewelers Limited (“Signet”) and Signet has a credit rating of “BBB-” or higher by S&P and Fitch (and the equivalent by all other rating agencies), an amount equal or greater than $105,073.29 is on deposit in the tax and insurance subaccount. | |
With regards to Loan No. 15, Sterling Jewelers Corporate HQ III, the monthly TI/LC and replacement reserves are waived so long as the primary tenant lease is not terminated. | |
With regards to Loan No. 18, Best Western O'Hare, the Monthly Replacement Reserve will be adjusted based on monthly operating statements for the Best Western O’Hare mortgaged property and will be an amount of 4.0% of gross rents for the immediately preceding calendar month. |
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With regards to Loan No. 24, Best Western Plus Atlanta Airport-East, the Monthly Replacement Reserve will be adjusted based on monthly operating statements for the Best Western Plus Atlanta Airport-East mortgaged property and will be an amount of 4.0% of gross rents for the immediately preceding calendar month. | |
With regards to Loan No. 25, The Charles Hotel, the Monthly Replacement Reserve will be adjusted based on annual operating statements and will be 1/12 of 6% of gross rents for the immediately preceding calendar year. | |
With regards to Loan No. 26, Wilmington Industrial Park, the ongoing operating reserves will be waived for so long as (i) a cash management trigger event has not occurred and is not continuing, (ii) to the extent any insurance required to be maintained, or caused to be maintained, by borrower under the loan documents is maintained by a tenant pursuant to its lease, such lease obligates the applicable tenant to maintain such insurance in form and substance consistent with the applicable requirements to be set forth in the loan documents, (iii) no tenant is in default of its obligation (if any) to maintain any insurance described in clause (ii) above, and (iv) with respect to each insurance required to be maintained, or caused to be maintained, by the borrower under the loan documents, the borrower pays, or causes to be paid, the applicable insurance premiums in full, and provides, or causes to be provided, evidence of such payment (and the continued maintenance of such insurance) in form and substance reasonably satisfactory to the lender on or prior to the due date. Additionally, tax reserve deposits are also conditionally waived so long as: (i) the lender has received satisfactory evidence that all taxes have been paid prior to their respective due dates, and (ii) no cash management trigger event period then exists. | |
With regards to Loan No. 28, Best Western Salt Lake City, the Monthly Replacement Reserve will be adjusted based on annual operating statements and will be 1/12 of 4% of gross revenue for the immediately preceding calendar year. | |
With regards to Loan No. 31, Best Western Battleground, the Monthly Replacement Reserve will be adjusted based on monthly operating statements for the Best Western Battleground mortgaged property and will be an amount of 6.0% of gross rents for the immediately preceding calendar month. | |
(22) | Represents the amount deposited by the borrower at origination. All or a portion of this amount may have been released pursuant to the terms of the related loan documents. |
(23) | Represents a cap on the amount required to be deposited by the borrower pursuant to the related mortgage loan documents. In certain cases, during the term of the mortgage loan, the caps may be altered or terminated subject to conditions of the respective mortgage loan documents. |
(24) | With regards to Loan No. 1, Novo Nordisk, the mortgage loan had a maximum principal balance of $207,880,000 and an original principal balance of $168,300,000. Note A-2 is currently unfunded; however, the holder of Note A-2 is required to make advances available for (i) approved tenant improvements and leasing commissions, which are estimated to be $16,580,000, in connection with the exercise of Novo Nordisk Inc.’s right under its lease to take expansion space at the Novo Nordisk mortgaged property and (ii) earnout funds, which are estimated to be $23,000,000. |
With regards to Loan No. 29, 534 Flatbush Ave-Brooklyn, the borrower has deposited a $160,000 debt service reserve (approximately 6 months) and a $25,000 repair code violation reserve. For purposes of calculating the UW NCF DSCR, UW NOI Debt Yield, Cut-0ff Date LTV and Maturity Date LTV, the holdback amount of $185,000 was included as part of the loan balance. | |
(25) | With regards to Loan No. 1, Novo Nordisk, the borrower has obtained a premises pollution liability insurance policy in lieu of a separate guarantor. The borrower obtained the environmental insurance from Illinois Union Insurance Company with a limit of $15.0 million per incident and in aggregate and a term equal to five years with a three year extended reporting period, beyond the ARD term, that is to be requested prior to the end of the policy term and paid for at the time it is billed. |
With respect to Loan No. 2, Rentar Plaza, the related sponsor maintains an umbrella environmental policy that covers the mortgaged property as well as other properties. There is no recognized environmental condition at the mortgaged property and such insurance is not required under the mortgage loan documents. |
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With regards to Loan No. 17, Vinings Village, an environmental insurance policy was obtained by the borrower in lieu of providing a separate environmental indemnitor. The borrower obtained environmental insurance from Steadfast Insurance Company, with a limit of $3.0 million per incident and in the aggregate with a November 10, 2025 expiration with an extended reporting period of 36 months. | |
(26) | Certain of the mortgage loans permit direct or indirect owners in the borrower to incur future mezzanine financing. |
Loan No. | Mortgage Loan | Mortgage Loan Cut-off Date Balance | % of Initial Outstanding Pool Balance | Intercreditor Agreement | Combined Minimum D5CR | Combined Maximum LTV | Combined Debt Yield | ||||||||
27 | Windmill Lakes Center | $6,200,000 | 1.0% | Yes | 1.10X | 80.0% | N/A | ||||||||
30 | North ridge Palm Apartments | $3,460,250 | 0.6% | Yes | 1.15X | 80.0% | N/A | ||||||||
33 | Colonial Terrace | $2,311,065 | 0.4W | Yes | 1.15X | 80.0% | N/A |
(27) | With regards to Loan No. 1, Novo Nordisk, the Mortgage Loan, which is comprised of Note A-1, Note A-7, Note A-8 and Note A-9, is cross-collateralized and cross-defaulted with ninepari passucompanion loans. Note A-2 is currently unfunded, and will not be the responsibility of the trust. Note A-3, Note A-4, Note A-5, Note A-11 and Note A-12 were contributed to the WFCM 2016-NXS6 securitization. Note A-6 is currently held by Natixis Real Estate Capital LLC and is expected to be contributed to the MSC 2016-UBS12 Commercial Mortgage Trust. Note A-10 and Note A-13 are currently held by Natixis and are expected to be contributed to one or more future securitizations. |
With regards to Loan No. 2, Rentar Plaza, the Mortgage Loan, which is comprised of Note A-1 and Note A-4, is cross-collateralized and cross-defaulted with threepari passu companion loans. Note A-2 and Note A-3 were contributed to the WFCM 2016-NXS6 securitization. Note A-5 is currently held by Natixis and is expected to be contributed to one or more future securitizations. | |
With regards to Loan No. 3, Gurnee Mills, the Mortgage Loan, which is comprised of Note A-1B and Note A-3A, is cross collateralized and cross-defaulted with fivepari passu companion loans. Note A-1A was contributed to the CSAIL 2016-C7 securitization. Note A-2A was contributed to the WFCM 2016-C36 securitization. Note A-2B is currently held by Wells Fargo Bank, National Association. Note A-3B and Note A-4 are currently held by Regions Bank. | |
With regards to Loan No. 4, QLIC, the Mortgage Loan, which is comprised of Note A-1 and Note A-6, is cross-collateralized and cross-defaulted with fourpari passu companion loans and one subordinate loan. Note A-2 and Note A-3 were contributed to the WFCM 2016-NXS6 securitization. Note A-4 and Note A-5 are currently held by Natixis and are expected to be contributed to one or more future securitizations. Note B is subordinate to the Mortgage Loan and pari passu companion loans, and is currently held by SM Core Credit Finance LLC. | |
With regards to Loan No. 7, Wolfchase Galleria, the related Mortgage Loan, which is comprised of Note A-6 and Note A-7, is cross-collateralized and cross-defaulted with sixpari passucompanion loans. Notes A-1-1 and A-3 are expected to be contributed to the MSC 2016-UBS12 securitization. Note A-1-2 is currently held by Morgan Stanley Bank, N.A. and may be contributed to a future securitization. Note A-2, Note A-4 and Note A-5 are currently held by UBS AG and may be contributed to one or more future securitizations. | |
With regards to Loan No. 9, Federal Way Crossings, the related Mortgage Loan, which is comprised of two notes (Note A-2 and Note A-5), is cross-collateralized and cross-defaulted with threepari passucompanion loans (Note A-1, Note A-3 and Note A-4), which are expected to be contributed to the MSC 2016-UBS12 securitization. | |
With regards to Loan No. 10, Greenwich Office Park, the Mortgage Loan, which is comprised of Note A-2, is cross-collateralized and cross-defaulted with twopari passucompanion loans. Note A-1 is currently held by |
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Natixis Real Estate Capital LLC and is expected to be contributed to the MSC 2016-UBS12 securitization. Note A-3 is currently held by Natixis and is expected to be contributed to one or more future securitizations. | |
With regards to Loan No. 12, MY Portfolio,the related Mortgage Loan, which is comprised of Note A-2, is cross-collateralized and cross-defaulted with apari passu A-1 Note in the original principal amount of $10,000,000 which was contributed to the MSBAM 2016-C31 securitization. | |
With regards to Loan No. 13, 681 Fifth Avenue, the related Mortgage Loan, which is comprised of Note A-3, is cross-collateralized and cross-defaulted with fivepari passucompanion loans. Note A-1 is expected to be contributed to the MSC 2016-UBS12 securitization. Note A-2 and Note A-4 are currently held by UBS AG and are expected to be contributed to the CFCRE 2016-C7 securitization. Note A-5 and Note A-6 are currently held by Citigroup Global Markets Realty Corp. and may be contributed to one or more future securitizations. | |
(28) | With regards to Loan No. 1, Novo Nordisk, the whole loan has a maximum principal balance of $207,880,000 and an original principal balance of $168,300,000. Note A-2 is currently unfunded; however, the holder of Note A-2 is required to make advances available for (i) approved tenant improvements and leasing commissions, which are estimated to be $16,580,000, in connection with the exercise of Novo’s right under its lease to take expansion space at the Novo Nordisk mortgaged property and (ii) earnout funds which are estimated to be $23,000,000. |
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