FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-207567-05 | ||
CFCRE 2017-C8
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (File No. 333-207567) 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 Securities and Exchange Commission 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 Securities and Exchange Commission website at www.sec.gov. Alternatively, the depositor or Cantor Fitzgerald & Co., any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling 1-212-915-1700 or by emailing legal@ccre.com. The offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
This free writing prospectus does not contain all information that is required to be included in the prospectus and the prospectus supplement.
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
This material is for your information, and none of Cantor Fitzgerald & Co., UBS Securities LLC, CastleOak Securities, L.P. and Citigroup or any other underwriter (the “Underwriters”) are soliciting any action based upon it. This material is not to be construed as an offer to sell or the solicitation of any offer to buy any secuderity in any jurisdiction where such an offer or solicitation would be illegal.
Neither this document nor anything contained herein shall form the basis for any contract or commitment whatsoever. The information contained herein is preliminary as of the date hereof. These materials are subject to change, completion or amendment from time to time. The information contained herein will be superseded by similar information delivered to you as part of the offering document relating to the CFCRE 2017-C8 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Offering Document”). The information contained herein supersedes any such information previously delivered and should be reviewed only in conjunction with the entire Offering Document. All of the information contained herein is subject to the same limitations and qualifications contained in the Offering Document. The information contained herein 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 contained herein 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. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this free writing prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Underwriters or any of their respective affiliates makes any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities.
This document contains forward-looking statements. Those statements are subject to certain risks and uncertainties that could cause the success of collections and the actual cash flow generated to differ materially from the information set forth herein. While such information reflects projections prepared in good faith based upon methods and data that are believed to be reasonable and accurate as of the dates thereof, the depositor undertakes no obligation to revise these forward-looking statements to reflect subsequent events or circumstances. Individuals should not place undue reliance on forward-looking statements and are advised to make their own independent analysis and determination with respect to the forecasted periods, which reflect the issuer’s view only as of the date hereof.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
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CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
% of | Mortgage | Cut-off | General | Detailed | Net Mortgage | Interest | Original | Remaining | Original | Remaining | First | |||||||||||
Property | Initial Pool | # of | Loan | Original | Date | Maturity | Property | Property | Interest | Administrative | Interest | Accrual | Term to | Term to | Amortization | Amortization | Origination | Payment | Maturity | ARD Loan | ||
Flag | ID | Property Name | Balance | Properties | Seller(1) | Balance($)(2)(3) | Balance($)(2)(3) | or ARD Balance($) | Type(4)(5) | Type | Rate(6) | Fee Rate(7) | Rate | Basis | Maturity or ARD(6) | Maturity or ARD(6) | Term | Term | Date | Date | or ARD Date(6) | (Yes/No)(6) |
Loan | 1 | Ohio Valley Plaza | 8.5% | 1 | RMF | 55,000,000 | 55,000,000 | 50,554,897 | Retail | Anchored | 4.7800% | 0.0192% | 4.7608% | Actual/360 | 120 | 119 | 360 | 360 | 04/12/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 2 | Pershing Square Building(19)(33) | 6.8% | 1 | CCRE | 44,000,000 | 44,000,000 | 44,000,000 | Mixed Use | Office/Retail | 4.6421% | 0.0467% | 4.5954% | Actual/360 | 120 | 119 | 0 | 0 | 05/01/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 3 | Crossings at Hobart(32) | 6.6% | 1 | RMF | 43,000,000 | 42,823,320 | 33,732,806 | Retail | Anchored | 4.8400% | 0.0227% | 4.8173% | Actual/360 | 120 | 117 | 330 | 327 | 03/03/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 4 | Yeshiva University Portfolio(32) | 5.4% | 5 | CCRE | 35,000,000 | 35,000,000 | 31,239,442 | Office | CBD | 4.3240% | 0.0160% | 4.3080% | Actual/360 | 120 | 119 | 360 | 360 | 04/21/2017 | 06/06/2017 | 05/06/2027 | Yes |
Property | 4.01 | 2495 Amsterdam Avenue | 2.1% | 1 | CCRE | 13,308,473 | 13,308,473 | Office | CBD | |||||||||||||
Property | 4.02 | 215 Lexington Avenue | 1.1% | 1 | CCRE | 7,350,828 | 7,350,828 | Office | CBD | |||||||||||||
Property | 4.03 | 2520 Amsterdam Avenue | 1.1% | 1 | CCRE | 7,072,698 | 7,072,698 | Office | CBD | |||||||||||||
Property | 4.04 | 245 Lexington Avenue | 0.8% | 1 | CCRE | 5,398,632 | 5,398,632 | Office | CBD | |||||||||||||
Property | 4.05 | 253 Lexington Avenue | 0.3% | 1 | CCRE | 1,869,369 | 1,869,369 | Office | CBD | |||||||||||||
Loan | 5 | 380 Lafayette Street | 5.0% | 1 | CCRE | 32,500,000 | 32,500,000 | 32,500,000 | Office | CBD | 4.1500% | 0.0392% | 4.1108% | Actual/360 | 120 | 119 | 0 | 0 | 04/26/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 5.0% | 2 | RMF | 32,500,000 | 32,363,041 | 24,939,487 | Hospitality | Full Service | 5.7300% | 0.0239% | 5.7061% | Actual/360 | 120 | 117 | 300 | 297 | 03/02/2017 | 04/06/2017 | 03/06/2027 | No |
Property | 6.01 | Hilton Anchorage | 2.9% | 1 | RMF | 18,500,000 | 18,422,039 | Hospitality | Full Service | |||||||||||||
Property | 6.02 | Renaissance Atlanta | 2.2% | 1 | RMF | 14,000,000 | 13,941,002 | Hospitality | Full Service | |||||||||||||
Loan | 7 | EIP Logistics Portfolio(32) | 4.5% | 2 | CCRE | 29,000,000 | 29,000,000 | 24,395,480 | Industrial | Warehouse/Distribution | 5.3060% | 0.0444% | 5.2616% | Actual/360 | 120 | 118 | 324 | 324 | 03/08/2017 | 05/06/2017 | 04/06/2027 | No |
Property | 7.01 | Mercury Paper, Inc. | 2.6% | 1 | CCRE | 16,975,610 | 16,975,610 | Industrial | Warehouse/Distribution | |||||||||||||
Property | 7.02 | Precision Park | 1.9% | 1 | CCRE | 12,024,390 | 12,024,390 | Industrial | Warehouse/Distribution | |||||||||||||
Loan | 8 | North Creek Office Complex | 4.0% | 1 | RMF | 26,000,000 | 26,000,000 | 24,511,645 | Office | Suburban | 5.3000% | 0.0192% | 5.2808% | Actual/360 | 60 | 58 | 360 | 360 | 04/10/2017 | 05/06/2017 | 04/06/2022 | No |
Loan | 9 | Flats East Bank Phase I | 3.7% | 1 | CCRE | 24,000,000 | 23,954,955 | 20,284,011 | Mixed Use | Hospitality/Retail | 5.8850% | 0.0392% | 5.8458% | Actual/360 | 120 | 118 | 360 | 358 | 03/28/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 10 | Google Kirkland Campus Phase II(32) | 3.5% | 1 | CCRE | 22,500,000 | 22,500,000 | 22,500,000 | Office | Suburban | 3.6739% | 0.0335% | 3.6404% | Actual/360 | 120 | 113 | 0 | 0 | 11/03/2016 | 12/06/2016 | 11/06/2026 | No |
Loan | 11 | Art Van Portfolio(32) | 3.2% | 5 | UBSAG | 20,500,000 | 20,500,000 | 17,723,227 | Various | Various | 4.9620% | 0.0160% | 4.9460% | Actual/360 | 120 | 117 | 360 | 360 | 03/02/2017 | 04/06/2017 | 03/06/2027 | No |
Property | 11.01 | Warren Distribution Center | 1.8% | 1 | UBSAG | 11,586,515 | 11,586,515 | Industrial | Distribution | |||||||||||||
Property | 11.02 | Comstock Park Retail | 0.5% | 1 | UBSAG | 3,313,337 | 3,313,337 | Retail | Single Tenant | |||||||||||||
Property | 11.03 | Grand Rapids Retail | 0.4% | 1 | UBSAG | 2,723,847 | 2,723,847 | Retail | Single Tenant | |||||||||||||
Property | 11.04 | Bloomfield Hills Retail | 0.2% | 1 | UBSAG | 1,585,523 | 1,585,523 | Retail | Single Tenant | |||||||||||||
Property | 11.05 | Mattress Distribution Center | 0.2% | 1 | UBSAG | 1,290,778 | 1,290,778 | Industrial | Distribution | |||||||||||||
Loan | 12 | MVP Parking Portfolio | 2.5% | 7 | CCRE | 16,250,000 | 16,250,000 | 16,250,000 | Other | Various | 5.0300% | 0.0667% | 4.9633% | Actual/360 | 120 | 119 | 0 | 0 | 05/01/2017 | 06/06/2017 | 05/06/2027 | No |
Property | 12.01 | White Front Garage Partners | 1.0% | 1 | CCRE | 6,453,666 | 6,453,666 | Other | Parking Facility | |||||||||||||
Property | 12.02 | St. Louis Seventh & Cerre | 0.3% | 1 | CCRE | 2,057,451 | 2,057,451 | Other | Surface Parking | |||||||||||||
Property | 12.03 | MVP Houston San Jacinto Lot | 0.3% | 1 | CCRE | 1,820,265 | 1,820,265 | Other | Surface Parking | |||||||||||||
Property | 12.04 | MVP Louisville Station Broadway | 0.3% | 1 | CCRE | 1,682,366 | 1,682,366 | Other | Surface Parking | |||||||||||||
Property | 12.05 | St. Louis Broadway Group | 0.3% | 1 | CCRE | 1,671,334 | 1,671,334 | Other | Surface Parking | |||||||||||||
Property | 12.06 | MVP Houston Preston Lot | 0.3% | 1 | CCRE | 1,627,206 | 1,627,206 | Other | Surface Parking | |||||||||||||
Property | 12.07 | MVP Indianapolis Meridian Lot | 0.1% | 1 | CCRE | 937,712 | 937,712 | Other | Surface Parking | |||||||||||||
Loan | 13 | 340 Bryant (32) | 2.5% | 1 | CCRE | 16,000,000 | 16,000,000 | 14,902,081 | Office | CBD | 5.6750% | 0.0286% | 5.6464% | Actual/360 | 120 | 117 | 360 | 360 | 02/10/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 14 | Rearden Storage Portfolio | 2.5% | 3 | CCRE | 16,000,000 | 15,981,565 | 13,002,557 | Self Storage | Self Storage | 4.6500% | 0.0392% | 4.6108% | Actual/360 | 120 | 119 | 360 | 359 | 04/26/2017 | 06/06/2017 | 05/06/2027 | No |
Property | 14.01 | Forest Central Self Storage | 1.1% | 1 | CCRE | 7,100,000 | 7,091,819 | Self Storage | Self Storage | |||||||||||||
Property | 14.02 | Carrollton Self Storage | 1.0% | 1 | CCRE | 6,400,000 | 6,392,626 | Self Storage | Self Storage | |||||||||||||
Property | 14.03 | Frame Street Self Storage | 0.4% | 1 | CCRE | 2,500,000 | 2,497,120 | Self Storage | Self Storage | |||||||||||||
Loan | 15 | Courtyard Marriott Shadyside | 2.4% | 1 | CCRE | 15,500,000 | 15,500,000 | 15,500,000 | Hospitality | Select Service | 5.9320% | 0.0392% | 5.8928% | Actual/360 | 60 | 57 | 0 | 0 | 02/22/2017 | 04/06/2017 | 03/06/2022 | No |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 2.4% | 1 | UBSAG | 15,450,000 | 15,257,048 | 12,750,092 | Hospitality | Limited Service | 5.1160% | 0.0160% | 5.1000% | Actual/360 | 120 | 109 | 360 | 349 | 06/10/2016 | 08/01/2016 | 07/01/2026 | No |
Loan | 17 | Brink’s Office | 2.2% | 1 | RMF | 14,400,000 | 14,400,000 | 12,480,297 | Office | Suburban | 5.0600% | 0.0192% | 5.0408% | Actual/360 | 120 | 119 | 360 | 360 | 04/11/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 18 | Centre Place I | 2.2% | 1 | CCRE | 14,300,000 | 14,300,000 | 14,300,000 | Mixed Use | Office/Retail | 5.2420% | 0.0392% | 5.2028% | Actual/360 | 120 | 115 | 0 | 0 | 12/16/2016 | 02/06/2017 | 01/06/2027 | No |
Loan | 19 | Euless Town Center | 2.0% | 1 | UBSAG | 12,750,000 | 12,720,884 | 10,471,897 | Retail | Anchored | 4.9700% | 0.0192% | 4.9508% | Actual/360 | 120 | 118 | 360 | 358 | 03/29/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 20 | Town Park Apartments | 1.9% | 1 | RMF | 12,500,000 | 12,500,000 | 10,874,425 | Multifamily | Garden | 5.2100% | 0.0192% | 5.1908% | Actual/360 | 120 | 117 | 360 | 360 | 02/13/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 21 | Baypoint Commerce Center(32) | 1.6% | 1 | UBSAG | 10,000,000 | 10,000,000 | 8,594,089 | Office | Suburban | 4.7330% | 0.0160% | 4.7170% | Actual/360 | 120 | 118 | 360 | 360 | 04/07/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 22 | Center West(32) | 1.6% | 1 | UBSAG | 10,000,000 | 10,000,000 | 10,000,000 | Office | CBD | 4.4350% | 0.0160% | 4.4190% | Actual/360 | 120 | 114 | 0 | 0 | 12/06/2016 | 01/06/2017 | 12/06/2026 | No |
Loan | 23 | Persis STNL Portfolio | 1.5% | 4 | CCRE | 9,800,000 | 9,800,000 | 9,058,817 | Retail | Single Tenant | 5.1520% | 0.0392% | 5.1128% | Actual/360 | 120 | 118 | 360 | 360 | 03/15/2017 | 05/06/2017 | 04/06/2027 | No |
Property | 23.01 | Outback Steakhouse Las Vegas | 0.6% | 1 | CCRE | 3,595,000 | 3,595,000 | Retail | Single Tenant | |||||||||||||
Property | 23.02 | Outback Steakhouse Sanford | 0.4% | 1 | CCRE | 2,739,000 | 2,739,000 | Retail | Single Tenant | |||||||||||||
Property | 23.03 | Outback Steakhouse Naperville | 0.4% | 1 | CCRE | 2,553,000 | 2,553,000 | Retail | Single Tenant | |||||||||||||
Property | 23.04 | Panda Express Camillus | 0.1% | 1 | CCRE | 913,000 | 913,000 | Retail | Single Tenant | |||||||||||||
Loan | 24 | Springhill Suites Tampa(33) | 1.5% | 1 | UBSAG | 9,600,000 | 9,582,260 | 8,130,491 | Hospitality | Limited Service | 5.9550% | 0.0192% | 5.9358% | Actual/360 | 120 | 118 | 360 | 358 | 04/06/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 25 | Hickory Corners | 1.4% | 1 | RMF | 9,300,000 | 9,300,000 | 8,435,330 | Retail | Anchored | 5.1800% | 0.0192% | 5.1608% | Actual/360 | 120 | 116 | 360 | 360 | 01/26/2017 | 03/06/2017 | 02/06/2027 | No |
Loan | 26 | Gwinnett MF Portfolio | 1.2% | 1 | RMF | 7,700,000 | 7,677,065 | 6,436,618 | Multifamily | Garden | 5.5200% | 0.0192% | 5.5008% | Actual/360 | 120 | 117 | 360 | 357 | 02/28/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 27 | Comfort Inn & Suites-Seattle | 1.2% | 1 | RMF | 7,490,000 | 7,467,030 | 6,235,727 | Hospitality | Limited Service | 5.3900% | 0.0192% | 5.3708% | Actual/360 | 120 | 117 | 360 | 357 | 02/17/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 28 | Highpark Corporate Center | 1.1% | 1 | CCRE | 7,300,000 | 7,300,000 | 6,355,774 | Office | Suburban | 5.2425% | 0.0392% | 5.2033% | Actual/360 | 120 | 117 | 360 | 360 | 02/08/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 29 | Oak Leaf Village Apartments | 1.1% | 1 | RMF | 7,250,000 | 7,228,062 | 6,047,270 | Multifamily | Garden | 5.4500% | 0.0192% | 5.4308% | Actual/360 | 120 | 117 | 360 | 357 | 02/21/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 30 | Walgreens Portland | 1.1% | 1 | RMF | 7,035,000 | 7,019,883 | 5,832,384 | Retail | Single Tenant | 5.2600% | 0.0192% | 5.2408% | Actual/360 | 120 | 118 | 360 | 358 | 03/27/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 31 | Rite Aid Portfolio Lima OH | 1.0% | 2 | CCRE | 6,600,000 | 6,569,418 | 5,551,621 | Retail | Single Tenant | 5.1775% | 0.0392% | 5.1383% | Actual/360 | 60 | 58 | 240 | 238 | 03/31/2017 | 05/06/2017 | 04/06/2022 | No |
Property | 31.01 | Rite Aid West Robb | 0.6% | 1 | CCRE | 3,666,000 | 3,649,013 | Retail | Single Tenant | |||||||||||||
Property | 31.02 | Rite Aid 506 West Market | 0.5% | 1 | CCRE | 2,934,000 | 2,920,405 | Retail | Single Tenant | |||||||||||||
Loan | 32 | AAAABCO Mini Storage | 1.0% | 1 | RMF | 6,400,000 | 6,386,793 | 5,337,787 | Mixed Use | Self Storage/Retail | 5.4500% | 0.0192% | 5.4308% | Actual/360 | 120 | 118 | 360 | 358 | 04/05/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 33 | Walgreens Bangor | 0.9% | 1 | RMF | 5,655,000 | 5,642,848 | 4,688,293 | Retail | Single Tenant | 5.2600% | 0.0192% | 5.2408% | Actual/360 | 120 | 118 | 360 | 358 | 03/27/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 34 | Orchid Centre | 0.9% | 1 | RMF | 5,600,000 | 5,600,000 | 5,188,683 | Retail | Unanchored | 5.3100% | 0.0192% | 5.2908% | Actual/360 | 120 | 117 | 360 | 360 | 03/09/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 35 | Microtel Georgetown | 0.8% | 1 | CCRE | 5,400,000 | 5,392,766 | 4,146,537 | Hospitality | Limited Service | 5.7500% | 0.0392% | 5.7108% | Actual/360 | 120 | 119 | 300 | 299 | 05/01/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 36 | KB St. Louis Dialysis Portfolio | 0.8% | 2 | CCRE | 5,218,000 | 5,218,000 | 4,801,782 | Office | Medical | 4.8595% | 0.0867% | 4.7728% | Actual/360 | 120 | 113 | 360 | 360 | 11/03/2016 | 12/06/2016 | 11/06/2026 | No |
Property | 36.01 | Fresenius St. Louis | 0.5% | 1 | CCRE | 3,427,250 | 3,427,250 | Office | Medical | |||||||||||||
Property | 36.02 | DaVita St. Louis | 0.3% | 1 | CCRE | 1,790,750 | 1,790,750 | Office | Medical | |||||||||||||
Loan | 37 | Texas Hotel Pair | 0.8% | 2 | UBSAG | 5,075,000 | 5,068,745 | 3,953,739 | Hospitality | Limited Service | 6.1770% | 0.0192% | 6.1578% | Actual/360 | 120 | 119 | 300 | 299 | 05/01/2017 | 06/06/2017 | 05/06/2027 | No |
Property | 37.01 | Comfort Inn & Suites | 0.5% | 1 | UBSAG | 3,501,750 | 3,497,434 | Hospitality | Limited Service | |||||||||||||
Property | 37.02 | Motel 6 | 0.2% | 1 | UBSAG | 1,573,250 | 1,571,311 | Hospitality | Limited Service | |||||||||||||
Loan | 38 | Park Pineway Plaza | 0.8% | 1 | RMF | 4,900,000 | 4,900,000 | 4,186,789 | Retail | Anchored | 5.4200% | 0.0192% | 5.4008% | Actual/360 | 120 | 117 | 360 | 360 | 03/07/2017 | 04/06/2017 | 03/06/2027 | No |
Loan | 39 | 123 Church Street | 0.7% | 1 | UBSAG | 4,791,000 | 4,780,624 | 3,967,309 | Mixed Use | Office/Retail | 5.2230% | 0.0192% | 5.2038% | Actual/360 | 120 | 118 | 360 | 358 | 03/29/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 40 | Summerhill Office Plaza | 0.7% | 1 | UBSAG | 4,350,000 | 4,339,961 | 3,566,783 | Office | Suburban | 4.9190% | 0.0192% | 4.8998% | Actual/360 | 120 | 118 | 360 | 358 | 03/17/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 41 | Comfort Suites Tucson | 0.5% | 1 | CCRE | 3,350,000 | 3,350,000 | 3,111,847 | Hospitality | Limited Service | 5.4870% | 0.0392% | 5.4478% | Actual/360 | 120 | 119 | 360 | 360 | 04/20/2017 | 06/06/2017 | 05/06/2027 | No |
Loan | 42 | Best Western Syracuse-Liverpool | 0.5% | 1 | UBSAG | 3,000,000 | 2,991,605 | 2,311,327 | Hospitality | Limited Service | 5.8500% | 0.0192% | 5.8308% | Actual/360 | 120 | 118 | 300 | 298 | 04/10/2017 | 05/06/2017 | 04/06/2027 | No |
Loan | 43 | Bent Tree Apartments | 0.4% | 1 | CCRE | 2,500,000 | 2,494,863 | 2,086,374 | Multifamily | Garden | 5.4700% | 0.0867% | 5.3833% | Actual/360 | 120 | 118 | 360 | 358 | 03/31/2017 | 05/06/2017 | 04/06/2027 | No |
A-1-1
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Pari Passu | Pari Passu | ||||||||||||||||||||
Monthly | Annual | Companion Loan | Companion Loan | Remaining | Crossed | FIRREA | Cut-Off | ||||||||||||||
Property | Final | Debt | Debt | Monthly Debt | Annual Debt | Interest Only | Cash | With | Related | Underwritten | Underwritten | Grace | Payment | Appraised | Appraisal | Compliant | Date LTV | LTV Ratio at | |||
Flag | ID | Property Name | Maturity Date(6) | Service($)(8) | Service($)(8) | Service($) | Service($) | Period | Lockbox(9) | Management(10) | Other Loans | Borrower | NOI DSCR(8)(11) | NCF DSCR(8)(11) | Period(12) | Date | Value ($)(13) | As-of Date | (Yes/No) | Ratio(11)(13) | Maturity or ARD(11)(13) |
Loan | 1 | Ohio Valley Plaza | 05/06/2027 | 287,901 | 3,454,817 | 59 | Springing Hard | Springing | No | 1.48x | 1.36x | 0 | 6 | 87,560,000 | 03/02/2017 | Yes | 62.8% | 57.7% | |||
Loan | 2 | Pershing Square Building(19)(33) | 05/06/2027 | 172,574 | 2,070,892 | 119 | Springing Soft | Springing | No | 2.22x | 2.13x | 0 | 6 | 75,000,000 | 03/23/2017 | Yes | 58.7% | 58.7% | |||
Loan | 3 | Crossings at Hobart(32) | 03/06/2027 | 235,938 | 2,831,261 | 76,817 | 921,806 | 0 | Springing Hard | Springing | No | 1.53x | 1.40x | 0 | 6 | 91,800,000 | 04/24/2017 | Yes | 61.8% | 48.7% | |
Loan | 4 | Yeshiva University Portfolio(32) | 05/06/2032 | 173,699 | 2,084,383 | 521,096 | 6,253,150 | 47 | Hard | In Place | No | 2.16x | 1.97x | 0 | 6 | 346,000,000 | 02/06/2017 | Yes | 40.5% | 36.1% | |
Property | 4.01 | 2495 Amsterdam Avenue | 108,000,000 | 02/06/2017 | Yes | ||||||||||||||||
Property | 4.02 | 215 Lexington Avenue | 78,700,000 | 02/06/2017 | Yes | ||||||||||||||||
Property | 4.03 | 2520 Amsterdam Avenue | 60,000,000 | 02/06/2017 | Yes | ||||||||||||||||
Property | 4.04 | 245 Lexington Avenue | 56,300,000 | 02/06/2017 | Yes | ||||||||||||||||
Property | 4.05 | 253 Lexington Avenue | 43,000,000 | 02/06/2017 | Yes | ||||||||||||||||
Loan | 5 | 380 Lafayette Street | 05/06/2027 | 113,957 | 1,367,483 | 119 | Hard | Springing | No | 1.77x | 1.73x | 0 | 6 | 59,000,000 | 04/03/2017 | Yes | 55.1% | 55.1% | |||
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 03/06/2027 | 204,067 | 2,448,804 | 518,016 | 6,216,194 | 0 | Hard | Springing | No | 2.07x | 1.81x | 0 | 6 | 182,000,000 | Various | Yes | 62.9% | 48.5% | |
Property | 6.01 | Hilton Anchorage | 103,600,000 | 12/12/2016 | Yes | ||||||||||||||||
Property | 6.02 | Renaissance Atlanta | 78,400,000 | 12/30/2016 | Yes | ||||||||||||||||
Loan | 7 | EIP Logistics Portfolio(32) | 04/06/2027 | 168,597 | 2,023,161 | 69,764 | 837,170 | 22 | Hard | Springing | No | 1.50x | 1.37x | 0 | 6 | 57,900,000 | Various | Yes | 70.8% | 59.6% | |
Property | 7.01 | Mercury Paper, Inc. | 33,000,000 | 03/16/2017 | Yes | ||||||||||||||||
Property | 7.02 | Precision Park | 24,900,000 | 01/11/2017 | Yes | ||||||||||||||||
Loan | 8 | North Creek Office Complex | 04/06/2022 | 144,379 | 1,732,551 | 10 | Springing Hard | Springing | No | 1.87x | 1.55x | 0 | 6 | 39,100,000 | 02/16/2017 | Yes | 66.5% | 62.7% | |||
Loan | 9 | Flats East Bank Phase I | 04/06/2027 | 142,122 | 1,705,470 | 0 | Hard | Springing | No | 1.55x | 1.37x | 0 | 6 | 36,520,000 | 12/05/2016 | Yes | 65.6% | 55.5% | |||
Loan | 10 | Google Kirkland Campus Phase II(32) | 11/06/2026 | 69,842 | 838,108 | 155,205 | 1,862,463 | 113 | Springing Hard | Springing | No | 2.64x | 2.56x | 0 | 6 | 146,000,000 | 07/27/2016 | Yes | 49.7% | 49.7% | |
Loan | 11 | Art Van Portfolio(32) | 03/06/2027 | 109,573 | 1,314,874 | 257,897 | 3,094,764 | 21 | Hard | In Place | No | 1.57x | 1.47x | 0 | 6 | 100,850,000 | Various | Yes | 68.2% | 58.9% | |
Property | 11.01 | Warren Distribution Center | 57,000,000 | 01/30/2017 | Yes | ||||||||||||||||
Property | 11.02 | Comstock Park Retail | 16,300,000 | 01/27/2017 | Yes | ||||||||||||||||
Property | 11.03 | Grand Rapids Retail | 13,400,000 | 01/27/2017 | Yes | ||||||||||||||||
Property | 11.04 | Bloomfield Hills Retail | 7,800,000 | 01/31/2017 | Yes | ||||||||||||||||
Property | 11.05 | Mattress Distribution Center | 6,350,000 | 01/31/2017 | Yes | ||||||||||||||||
Loan | 12 | MVP Parking Portfolio | 05/06/2027 | 69,061 | 828,727 | 119 | Hard | Springing | No | 1.91x | 1.88x | 0 | 6 | 29,460,000 | Various | Yes | 55.2% | 55.2% | |||
Property | 12.01 | White Front Garage Partners | 11,700,000 | 03/12/2017 | Yes | ||||||||||||||||
Property | 12.02 | St. Louis Seventh & Cerre | 3,730,000 | 03/14/2017 | Yes | ||||||||||||||||
Property | 12.03 | MVP Houston San Jacinto Lot | 3,300,000 | 03/15/2017 | Yes | ||||||||||||||||
Property | 12.04 | MVP Louisville Station Broadway | 3,050,000 | 03/07/2017 | Yes | ||||||||||||||||
Property | 12.05 | St. Louis Broadway Group | 3,030,000 | 03/14/2017 | Yes | ||||||||||||||||
Property | 12.06 | MVP Houston Preston Lot | 2,950,000 | 03/15/2017 | Yes | ||||||||||||||||
Property | 12.07 | MVP Indianapolis Meridian Lot | 1,700,000 | 03/08/2017 | Yes | ||||||||||||||||
Loan | 13 | 340 Bryant (32) | 03/06/2027 | 92,611 | 1,111,329 | 85,086 | 1,021,033 | 57 | Hard | Springing | No | 1.47x | 1.43x | 0 | 6 | 52,000,000 | 01/09/2017 | Yes | 59.0% | 55.0% | |
Loan | 14 | Rearden Storage Portfolio | 05/06/2027 | 82,502 | 990,023 | 0 | Springing Soft | Springing | No | 1.60x | 1.56x | 0 | 6 | 29,120,000 | Various | Yes | 54.9% | 44.7% | |||
Property | 14.01 | Forest Central Self Storage | 13,300,000 | 03/21/2017 | Yes | ||||||||||||||||
Property | 14.02 | Carrollton Self Storage | 11,220,000 | 03/23/2017 | Yes | ||||||||||||||||
Property | 14.03 | Frame Street Self Storage | 4,600,000 | 03/24/2017 | Yes | ||||||||||||||||
Loan | 15 | Courtyard Marriott Shadyside | 03/06/2022 | 77,686 | 932,230 | 57 | Hard | Springing | No | 2.04x | 1.79x | 0 | 6 | 27,500,000 | 01/01/2017 | Yes | 56.4% | 56.4% | |||
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 07/01/2026 | 84,038 | 1,008,452 | 310,314 | 3,723,768 | 0 | Hard | Springing | No | 2.10x | 1.94x | 5 | 1 | 118,000,000 | 02/27/2018 | Yes | 60.7% | 50.7% | |
Loan | 17 | Brink’s Office | 05/06/2027 | 77,831 | 933,975 | 23 | Springing Hard | Springing | No | 1.70x | 1.57x | 0 | 6 | 22,550,000 | 05/01/2017 | Yes | 63.9% | 55.3% | |||
Loan | 18 | Centre Place I | 01/06/2027 | 63,335 | 760,017 | 115 | Springing Hard | Springing | No | 1.66x | 1.61x | 0 | 6 | 26,500,000 | 09/08/2016 | Yes | 54.0% | 54.0% | |||
Loan | 19 | Euless Town Center | 04/06/2027 | 68,211 | 818,534 | 0 | Springing Hard | Springing | No | 1.65x | 1.48x | 0 | 6 | 19,700,000 | 02/23/2017 | Yes | 64.6% | 53.2% | |||
Loan | 20 | Town Park Apartments | 03/06/2027 | 68,716 | 824,593 | 21 | Springing Hard | Springing | No | 1.63x | 1.53x | 0 | 6 | 18,470,000 | 01/10/2017 | Yes | 67.7% | 58.9% | |||
Loan | 21 | Baypoint Commerce Center(32) | 04/06/2027 | 52,062 | 624,748 | 156,187 | 1,874,243 | 22 | Springing Hard | Springing | No | 2.29x | 1.79x | 0 | 6 | 62,000,000 | 01/05/2017 | Yes | 64.5% | 55.4% | |
Loan | 22 | Center West(32) | 12/06/2026 | 37,472 | 449,660 | 262,302 | 3,147,618 | 114 | Springing Hard | Springing | No | 2.15x | 1.94x | 0 | 6 | 209,000,000 | 10/20/2016 | Yes | 38.3% | 38.3% | |
Loan | 23 | Persis STNL Portfolio | 04/06/2027 | 53,523 | 642,272 | 58 | Springing Hard | Springing | No | 1.43x | 1.40x | 0 | 6 | 17,175,000 | Various | Yes | 57.1% | 52.7% | |||
Property | 23.01 | Outback Steakhouse Las Vegas | 6,300,000 | 02/27/2017 | Yes | ||||||||||||||||
Property | 23.02 | Outback Steakhouse Sanford | 4,800,000 | 02/24/2017 | Yes | ||||||||||||||||
Property | 23.03 | Outback Steakhouse Naperville | 4,475,000 | 03/01/2017 | Yes | ||||||||||||||||
Property | 23.04 | Panda Express Camillus | 1,600,000 | 02/17/2017 | Yes | ||||||||||||||||
Loan | 24 | Springhill Suites Tampa(33) | 04/06/2027 | 57,279 | 687,353 | 0 | Springing Hard | Springing | No | 1.76x | 1.57x | 0 | 6 | 15,100,000 | 02/10/2017 | Yes | 63.5% | 53.8% | |||
Loan | 25 | Hickory Corners | 02/06/2027 | 50,952 | 611,430 | 44 | Hard | Springing | No | 1.74x | 1.57x | 0 | 6 | 13,500,000 | 11/06/2016 | Yes | 68.9% | 62.5% | |||
Loan | 26 | Gwinnett MF Portfolio | 03/06/2027 | 43,816 | 525,797 | 0 | Springing Hard | Springing | No | 1.31x | 1.25x | 0 | 6 | 10,800,000 | 10/27/2016 | Yes | 71.1% | 59.6% | |||
Loan | 27 | Comfort Inn & Suites-Seattle | 03/06/2027 | 42,012 | 504,143 | 0 | Springing Hard | Springing | No | 1.79x | 1.61x | 0 | 6 | 10,900,000 | 12/16/2016 | Yes | 68.5% | 57.2% | |||
Loan | 28 | Highpark Corporate Center | 03/06/2027 | 40,277 | 483,324 | 21 | Springing Hard | Springing | No | 1.83x | 1.67x | 0 | 6 | 13,600,000 | 12/20/2016 | Yes | 53.7% | 46.7% | |||
Loan | 29 | Oak Leaf Village Apartments | 03/06/2027 | 40,938 | 491,251 | 0 | Springing Hard | Springing | No | 1.99x | 1.85x | 0 | 6 | 12,320,000 | 12/12/2016 | Yes | 58.7% | 49.1% | |||
Loan | 30 | Walgreens Portland | 04/06/2027 | 38,891 | 466,693 | 0 | Hard | In Place | No | Yes - Group A | 1.24x | 1.24x | 0 | 6 | 10,500,000 | 12/28/2016 | Yes | 66.9% | 55.5% | ||
Loan | 31 | Rite Aid Portfolio Lima OH | 04/06/2022 | 44,207 | 530,482 | 0 | Hard | In Place | No | 1.40x | 1.39x | 0 | 6 | 11,000,000 | 11/28/2016 | Yes | 59.7% | 50.5% | |||
Property | 31.01 | Rite Aid West Robb | 6,110,000 | 11/28/2016 | Yes | ||||||||||||||||
Property | 31.02 | Rite Aid 506 West Market | 4,890,000 | 11/28/2016 | Yes | ||||||||||||||||
Loan | 32 | AAAABCO Mini Storage | 04/06/2027 | 36,138 | 433,656 | 0 | Springing Hard | Springing | No | 1.53x | 1.46x | 0 | 6 | 13,030,000 | 03/11/2017 | Yes | 49.0% | 41.0% | |||
Loan | 33 | Walgreens Bangor | 04/06/2027 | 31,262 | 375,146 | 0 | Hard | In Place | No | Yes - Group A | 1.24x | 1.24x | 0 | 6 | 8,500,000 | 12/28/2016 | Yes | 66.4% | 55.2% | ||
Loan | 34 | Orchid Centre | 03/06/2027 | 31,132 | 373,582 | 57 | Springing Soft | Springing | No | 1.28x | 1.23x | 0 | 6 | 8,275,000 | 01/11/2017 | Yes | 67.7% | 62.7% | |||
Loan | 35 | Microtel Georgetown | 05/06/2027 | 33,972 | 407,661 | 0 | Hard | Springing | No | 1.76x | 1.58x | 0 | 6 | 8,700,000 | 01/01/2017 | Yes | 62.0% | 47.7% | |||
Loan | 36 | KB St. Louis Dialysis Portfolio | 11/06/2026 | 27,565 | 330,780 | 53 | Hard | Springing | No | 1.53x | 1.47x | 0 | 6 | 8,040,000 | 10/05/2016 | Yes | 64.9% | 59.7% | |||
Property | 36.01 | Fresenius St. Louis | 5,280,000 | 10/05/2016 | Yes | ||||||||||||||||
Property | 36.02 | DaVita St. Louis | 2,760,000 | 10/05/2016 | Yes | ||||||||||||||||
Loan | 37 | Texas Hotel Pair | 05/06/2027 | 33,250 | 398,995 | 0 | Hard | Springing | No | 2.42x | 2.16x | 0 | 6 | 10,000,000 | 01/31/2017 | Yes | 50.7% | 39.5% | |||
Property | 37.01 | Comfort Inn & Suites | 6,900,000 | 01/31/2017 | Yes | ||||||||||||||||
Property | 37.02 | Motel 6 | 3,100,000 | 01/31/2017 | Yes | ||||||||||||||||
Loan | 38 | Park Pineway Plaza | 03/06/2027 | 27,576 | 330,915 | 9 | Springing Hard | Springing | No | 1.64x | 1.50x | 0 | 6 | 7,700,000 | 02/01/2017 | Yes | 63.6% | 54.4% | |||
Loan | 39 | 123 Church Street | 04/06/2027 | 26,376 | 316,512 | 0 | Hard | Springing | No | 1.56x | 1.45x | 0 | 6 | 6,730,000 | 02/15/2017 | Yes | 71.0% | 58.9% | |||
Loan | 40 | Summerhill Office Plaza | 04/06/2027 | 23,137 | 277,642 | 0 | Springing Hard | Springing | No | 2.24x | 2.04x | 0 | 6 | 8,550,000 | 02/01/2017 | Yes | 50.8% | 41.7% | |||
Loan | 41 | Comfort Suites Tucson | 05/06/2027 | 18,994 | 227,923 | 59 | Hard | Springing | No | 2.18x | 1.85x | 0 | 6 | 6,400,000 | 01/10/2017 | Yes | 52.3% | 48.6% | |||
Loan | 42 | Best Western Syracuse-Liverpool | 04/06/2027 | 19,055 | 228,659 | 0 | Hard | Springing | No | 1.94x | 1.70x | 0 | 6 | 5,100,000 | 11/01/2017 | Yes | 58.7% | 45.3% | |||
Loan | 43 | Bent Tree Apartments | 04/06/2027 | 14,148 | 169,772 | 0 | Springing Soft | Springing | No | 1.35x | 1.22x | 0 | 6 | 3,900,000 | 03/07/2017 | Yes | 64.0% | 53.5% |
A-1-2
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Net | Loan per Net | |||||||||||||
Rentable Area | Units | Rentable Area | ||||||||||||
Property | Year | Year | (Sq. Ft./Units/ | of | (Sq. Ft./Units/Rooms/ | Prepayment Provisions | Most Recent Operating | |||||||
Flag | ID | Property Name | Address | City | County | State | Zip Code | Built | Renovated | Rooms/Pads/Spaces)(4) | Measure(4) | Pads/Spaces) ($)(4)(11) | (# of payments)(14)(15)(16) | Statements Date |
Loan | 1 | Ohio Valley Plaza | 50585 Valley Plaza Drive | Saint Clairsville | Belmont | OH | 43950 | 1996 | NAP | 657,669 | Sq. Ft. | 84 | L(23), YM1(93), O(4) | 12/31/2016 |
Loan | 2 | Pershing Square Building(19)(33) | 448 South Hill Street | Los Angeles | Los Angeles | CA | 90013 | 1924 | 2007-2017 | 153,381 | Sq. Ft. | 287 | L(25), YM1(91), O(4) | T-12 2/28/2017 |
Loan | 3 | Crossings at Hobart(32) | 1939-3101 East 80th Avenue | Merrillville | Lake | IN | 46410 | 1988, 1990-2009 | 2014-2016 | 772,383 | Sq. Ft. | 73 | L(26), YM1(89), O(5) | 12/31/2016 |
Loan | 4 | Yeshiva University Portfolio(32) | Various | New York | New York | NY | Various | Various | NAP | 696,371 | Sq. Ft. | 201 | L(25), D(94), O(1) | NAP |
Property | 4.01 | 2495 Amsterdam Avenue | 2495 Amsterdam Avenue | New York | New York | NY | 10033 | 1969 | NAP | 295,694 | Sq. Ft. | 180 | NAP | |
Property | 4.02 | 215 Lexington Avenue | 215 Lexington Avenue | New York | New York | NY | 10016 | 1962 | NAP | 111,270 | Sq. Ft. | 264 | NAP | |
Property | 4.03 | 2520 Amsterdam Avenue | 2520 Amsterdam Avenue | New York | New York | NY | 10033 | 1967 | NAP | 163,321 | Sq. Ft. | 173 | NAP | |
Property | 4.04 | 245 Lexington Avenue | 245 Lexington Avenue | New York | New York | NY | 10016 | 1969 | NAP | 87,927 | Sq. Ft. | 246 | NAP | |
Property | 4.05 | 253 Lexington Avenue | 253 Lexington Avenue | New York | New York | NY | 10016 | 1911 | NAP | 38,159 | Sq. Ft. | 196 | NAP | |
Loan | 5 | 380 Lafayette Street | 380 Lafayette Street | New York | New York | NY | 10003 | 1888 | 1988, 2012, 2016 | 45,678 | Sq. Ft. | 712 | L(25), D(89), O(6) | T-12 2/28/2017 |
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | Various | Various | Various | Various | Various | Various | Various | 993 | Rooms | 115,323 | L(27), D(89), O(4) | T-12 1/31/2017 |
Property | 6.01 | Hilton Anchorage | 500 West 3rd Avenue | Anchorage | Anchorage | AK | 99501 | 1958-1984 | 2009 | 606 | Rooms | 107,567 | T-12 1/31/2017 | |
Property | 6.02 | Renaissance Atlanta | 1 Hartsfield Centre Parkway | Atlanta | Fulton | GA | 30354 | 1992 | 2013 | 387 | Rooms | 127,467 | T-12 1/31/2017 | |
Loan | 7 | EIP Logistics Portfolio(32) | Various | Various | Various | Various | Various | Various | Various | 1,084,470 | Sq. Ft. | 38 | L(26), D(91), O(3) | 12/31/2016 |
Property | 7.01 | Mercury Paper, Inc. | 495 Radio Station Road | Strasburg | Shenandoah | VA | 22657 | 2008 | NAP | 407,248 | Sq. Ft. | 42 | 12/31/2016 | |
Property | 7.02 | Precision Park | 200 Frenchtown Road | North Kingstown | Washington | RI | 02852 | 1960 | 2017 | 677,222 | Sq. Ft. | 18 | 12/31/2016 | |
Loan | 8 | North Creek Office Complex | 5725, 5755 and 5775 Mark Dabling Boulevard | Colorado Springs | El Paso | CO | 80919 | 1984 | NAP | 323,629 | Sq. Ft. | 80 | L(26), D(27), O(7) | 12/31/2016 |
Loan | 9 | Flats East Bank Phase I | 1010 Front Avenue and 1051, 1060, 1091, 1111 and 1121 West 10th Street | Cleveland | Cuyahoga | OH | 44113 | 2013, 2015 | NAP | 128,070 | Sq. Ft. | 187 | L(26), D(90), O(4) | T-12 2/28/2017 |
Loan | 10 | Google Kirkland Campus Phase II(32) | 451 Seventh Avenue South | Kirkland | King | WA | 98033 | 2015 | NAP | 180,844 | Sq. Ft. | 401 | L(31), YM1(84), O(5) | NAP |
Loan | 11 | Art Van Portfolio(32) | Various | Various | Various | MI | Various | Various | Various | 1,407,911 | Sq. Ft. | 49 | L(27), D(86), O(7) | NAP |
Property | 11.01 | Warren Distribution Center | 6340 and 6500 East 14 Mile Road | Warren | Macomb | MI | 48092 | 1969 | 1976, 1982, 1985, 1987-1988, 1993, 1997, 2000, 2015 | 1,056,890 | Sq. Ft. | 37 | NAP | |
Property | 11.02 | Comstock Park Retail | 4273 Alpine Avenue Northwest | Comstock Park | Kent | MI | 49321 | 1999 | NAP | 96,400 | Sq. Ft. | 115 | NAP | |
Property | 11.03 | Grand Rapids Retail | 4375 28th Street Southeast | Kentwood | Kent | MI | 49512 | 1986 | 2001 | 79,212 | Sq. Ft. | 115 | NAP | |
Property | 11.04 | Bloomfield Hills Retail | 2300 South Telegraph Road | Bloomfield Hills | Oakland | MI | 48302 | 2004 | 2016 | 46,388 | Sq. Ft. | 115 | NAP | |
Property | 11.05 | Mattress Distribution Center | 30450 and 30500 Little Mack Avenue | Roseville | Macomb | MI | 48066 | 1968 | 1972, 1992, 2004, 2011-2012 | 129,021 | Sq. Ft. | 34 | NAP | |
Loan | 12 | MVP Parking Portfolio | Various | Various | Various | Various | Various | Various | Various | 791 | Spaces | 20,544 | L(25), D(92), O(3) | NAP |
Property | 12.01 | White Front Garage Partners | 205 2nd Avenue North | Nashville | Davidson | TN | 37201 | 1958 | 2013 | 155 | Spaces | 41,637 | NAP | |
Property | 12.02 | St. Louis Seventh & Cerre | 700 South 7th Street | St. Louis | Saint Louis City | MO | 63102 | 1985 | NAP | 152 | Spaces | 13,536 | NAP | |
Property | 12.03 | MVP Houston San Jacinto Lot | 415 1/2 San Jacinto Street | Houston | Harris | TX | 77002 | 1960 | 1975 | 85 | Spaces | 21,415 | NAP | |
Property | 12.04 | MVP Louisville Station Broadway | 300 West Broadway | Louisville | Jefferson | KY | 40202 | 1988 | NAP | 165 | Spaces | 10,196 | NAP | |
Property | 12.05 | St. Louis Broadway Group | 619 South Broadway | St. Louis | Saint Louis City | MO | 63102 | 1970 | NAP | 152 | Spaces | 10,996 | NAP | |
Property | 12.06 | MVP Houston Preston Lot | 1102 Preston Street | Houston | Harris | TX | 77002 | 1960 | NAP | 46 | Spaces | 35,374 | NAP | |
Property | 12.07 | MVP Indianapolis Meridian Lot | 239 South Meridian Street | Indianapolis | Marion | IN | 46225 | 1939 | NAP | 36 | Spaces | 26,048 | NAP | |
Loan | 13 | 340 Bryant (32) | 340 Bryant Street | San Francisco | San Francisco | CA | 94107 | 1932 | 2015 | 62,270 | Sq. Ft. | 493 | L(27), D(87), O(6) | NAP |
Loan | 14 | Rearden Storage Portfolio | Various | Various | Various | TX | Various | Various | NAP | 249,554 | Sq. Ft. | 64 | L(25), D(92), O(3) | T-12 2/28/2017 |
Property | 14.01 | Forest Central Self Storage | 11550 Forest Central Drive | Dallas | Dallas | TX | 75243 | 1996 | NAP | 77,757 | Sq. Ft. | 91 | T-12 2/28/2017 | |
Property | 14.02 | Carrollton Self Storage | 2422 Marsh Lane | Carrollton | Dallas | TX | 75006 | 1995-1996 | NAP | 112,722 | Sq. Ft. | 57 | T-12 2/28/2017 | |
Property | 14.03 | Frame Street Self Storage | 816 Frame Street | Denton | Denton | TX | 76209 | 1986 | NAP | 59,075 | Sq. Ft. | 42 | T-12 2/28/2017 | |
Loan | 15 | Courtyard Marriott Shadyside | 5308 Liberty Avenue | Pittsburgh | Allegheny | PA | 15224 | 2003 | 2014 | 132 | Rooms | 117,424 | L(27), D(29), O(4) | 12/31/2016 |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 920 Broadway | Nashville | Davidson | TN | 37203 | 1968 | 2016 | 287 | Rooms | 249,458 | L(35), D(81), O(4) | T-12 1/31/2017 |
Loan | 17 | Brink’s Office | 555 Dividend Drive | Coppell | Dallas | TX | 75019 | 2002 | 2017 | 101,844 | Sq. Ft. | 141 | L(25), D(88), O(7) | 12/31/2016 |
Loan | 18 | Centre Place I | 1231 South California Boulevard | Walnut Creek | Contra Costa | CA | 94596 | 2010 | NAP | 17,707 | Sq. Ft. | 808 | L(29), D(87), O(4) | 12/31/2015 |
Loan | 19 | Euless Town Center | 1201 Airport Freeway | Euless | Tarrant | TX | 76040 | 1982 | NAP | 239,519 | Sq. Ft. | 53 | L(26), D(90), O(4) | T-12 1/31/2017 |
Loan | 20 | Town Park Apartments | 10201 Harwin Drive | Houston | Harris | TX | 77036 | 1976 | 2014-2016 | 340 | Units | 36,765 | L(27), D(89), O(4) | 12/31/2016 |
Loan | 21 | Baypoint Commerce Center(32) | 877 Executive Center Drive | St. Petersburg | Pinellas | FL | 33702 | 1971-2000 | 2016 | 689,778 | Sq. Ft. | 58 | L(26), D(89), O(5) | 12/31/2016 |
Loan | 22 | Center West(32) | 10877 Wilshire Boulevard | Los Angeles | Los Angeles | CA | 90024 | 1985-1990 | NAP | 349,298 | Sq. Ft. | 229 | L(24), YM2(92), O(4) | T-12 8/31/2016 |
Loan | 23 | Persis STNL Portfolio | Various | Various | Various | Various | Various | Various | Various | 21,514 | Sq. Ft. | 456 | L(23), YM1(93), O(4) | NAP |
Property | 23.01 | Outback Steakhouse Las Vegas | 7380 South Las Vegas Boulevard | Las Vegas | Clark | NV | 89123 | 2005 | 2016 | 6,317 | Sq. Ft. | 569 | NAP | |
Property | 23.02 | Outback Steakhouse Sanford | 180 Hickman Drive | Sanford | Seminole | FL | 32771 | 1996 | NAP | 6,194 | Sq. Ft. | 442 | NAP | |
Property | 23.03 | Outback Steakhouse Naperville | 2855 West Ogden Avenue | Naperville | DuPage | IL | 60540 | 1994 | 2016 | 6,227 | Sq. Ft. | 410 | NAP | |
Property | 23.04 | Panda Express Camillus | 3604 West Genesee Street | Camillus | Onondaga | NY | 13219 | 2015 | NAP | 2,776 | Sq. Ft. | 329 | NAP | |
Loan | 24 | Springhill Suites Tampa(33) | 1051 South Falkenburg Road | Tampa | Hillsborough | FL | 33619 | 2008 | 2014, 2015 | 103 | Rooms | 93,032 | L(26), D(90), O(4) | T-12 1/31/2017 |
Loan | 25 | Hickory Corners | 1718 US Highway 70 Southeast | Hickory | Catawba | NC | 28602 | 1986 | NAP | 156,474 | Sq. Ft. | 59 | L(28), D(88), O(4) | T-12 11/30/2016 |
Loan | 26 | Gwinnett MF Portfolio | 1000 Hampton Square Drive | Lawrenceville | Gwinnett | GA | 30046 | 1983,1984, 1986, 1996 | NAP | 129 | Units | 59,512 | L(27), D(89), O(4) | T-12 1/31/2017 |
Loan | 27 | Comfort Inn & Suites-Seattle | 13700 Aurora Avenue North | Seattle | King | WA | 98133 | 1990 | 2016 | 72 | Rooms | 103,709 | L(27), D(86), O(7) | 12/31/2016 |
Loan | 28 | Highpark Corporate Center | 23436-23456 Madero | Mission Viejo | Orange | CA | 92691 | 1985 | NAP | 67,141 | Sq. Ft. | 109 | L(27), YM1(87), O(6) | T-12 10/31/2016 |
Loan | 29 | Oak Leaf Village Apartments | 100 Dyna Drive | Houston | Harris | TX | 77060 | 1973 | NAP | 228 | Units | 31,702 | L(27), D(89), O(4) | 12/31/2016 |
Loan | 30 | Walgreens Portland | 340 Allen Avenue | Portland | Cumberland | ME | 04103 | 2010 | NAP | 14,096 | Sq. Ft. | 498 | L(26), D(90), O(4) | T-12 2/28/2017 |
Loan | 31 | Rite Aid Portfolio Lima OH | Various | Lima | Allen | OH | 45801 | 2006 | NAP | 29,128 | Sq. Ft. | 226 | L(26), D(30), O(4) | 12/31/2016 |
Property | 31.01 | Rite Aid West Robb | 302 West Robb Avenue | Lima | Allen | OH | 45801 | 2006 | NAP | 14,564 | Sq. Ft. | 251 | 12/31/2016 | |
Property | 31.02 | Rite Aid 506 West Market | 506 West Market Street | Lima | Allen | OH | 45801 | 2006 | NAP | 14,564 | Sq. Ft. | 201 | 12/31/2016 | |
Loan | 32 | AAAABCO Mini Storage | 6740 Boulder Highway | Las Vegas | Clark | NV | 89122 | 1973, 2006 | 2016 | 140,598 | Sq. Ft. | 45 | L(23), YM1(93), O(4) | T-12 2/28/2017 |
Loan | 33 | Walgreens Bangor | 97 Oak Street | Bangor | Penobscot | ME | 04401 | 2009 | NAP | 11,500 | Sq. Ft. | 491 | L(26), D(90), O(4) | T-12 2/28/2017 |
Loan | 34 | Orchid Centre | 4150 West Eldorado Parkway | McKinney | Collin | TX | 75070 | 2001 | NAP | 24,363 | Sq. Ft. | 230 | L(24), YM1(89), O(7) | 12/31/2016 |
Loan | 35 | Microtel Georgetown | 22297 Dupont Boulevard | Georgetown | Sussex | DE | 19947 | 2014 | NAP | 78 | Rooms | 69,138 | L(25), D(92), O(3) | T-12 2/28/2017 |
Loan | 36 | KB St. Louis Dialysis Portfolio | Various | Various | St. Louis | MO | Various | 2016 | NAP | 15,752 | Sq. Ft. | 331 | L(31), D(86), O(3) | 12/31/2015 |
Property | 36.01 | Fresenius St. Louis | 2840 Target Drive | St. Louis | St. Louis | MO | 63136 | 2016 | NAP | 7,700 | Sq. Ft. | 445 | 12/31/2015 | |
Property | 36.02 | DaVita St. Louis | 8980 Natural Bridge Road | Bel-Ridge | St. Louis | MO | 63121 | 2016 | NAP | 8,052 | Sq. Ft. | 222 | 12/31/2015 | |
Loan | 37 | Texas Hotel Pair | Various | Eagle Pass | Maverick | TX | 78852 | Various | NAP | 118 | Rooms | 42,955 | L(25), D(91), O(4) | T-12 2/28/2017 |
Property | 37.01 | Comfort Inn & Suites | 402 South Texas Drive | Eagle Pass | Maverick | TX | 78852 | 2013-2014 | NAP | 60 | Rooms | 58,291 | T-12 2/28/2017 | |
Property | 37.02 | Motel 6 | 2338 East Main Street | Eagle Pass | Maverick | TX | 78852 | 2009-2010 | NAP | 58 | Rooms | 27,092 | T-12 2/28/2017 | |
Loan | 38 | Park Pineway Plaza | 4421 South White Mountain Road | Show Low | Navajo | AZ | 85901 | 1989 | NAP | 85,851 | Sq. Ft. | 57 | L(27), D(89), O(4) | 12/31/2016 |
Loan | 39 | 123 Church Street | 123 Church Street | New Haven | New Haven | CT | 06510 | 1832 | 1984-1986, 2003, 2013 | 38,874 | Sq. Ft. | 123 | L(26), D(89), O(5) | NAP |
Loan | 40 | Summerhill Office Plaza | 7473 West Lake Mead Boulevard | Las Vegas | Clark | NV | 89128 | 1999 | NAP | 54,352 | Sq. Ft. | 80 | L(26), D(90), O(4) | T-12 1/31/2017 |
Loan | 41 | Comfort Suites Tucson | 515 West Auto Mall Drive | Tucson | Pima | AZ | 85705 | 1998 | 2013, 2014 | 86 | Rooms | 38,953 | L(25), D(91), O(4) | T-12 3/31/2017 |
Loan | 42 | Best Western Syracuse-Liverpool | 136 Transistor Parkway | Liverpool | Onondaga | NY | 13088 | 2003 | 2011 | 61 | Rooms | 49,043 | L(26), D(90), O(4) | T-12 2/28/2017 |
Loan | 43 | Bent Tree Apartments | 410 Oakwood Avenue | Hot Springs | Garland | AR | 71913 | 1992 | NAP | 74 | Units | 33,714 | L(26), YM1(91), O(3) | T-12 2/28/2017 |
A-1-3
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Second Most | Second | Second | Second | Third Most | Third | Third | Third | ||||||||||
Property | Most Recent | Most Recent | Most Recent | Recent Operating | Most Recent | Most Recent | Most Recent | Recent Operating | Most Recent | Most Recent | Most Recent | Underwritten NOI | Underwritten NCF | Underwritten | Underwritten | ||
Flag | ID | Property Name | EGI ($) | Expenses($) | NOI($) | Statements Date | EGI($) | Expenses($) | NOI($) | Statements Date | EGI($) | Expenses($) | NOI($) | Debt Yield(11) | Debt Yield(11) | Revenue($) | EGI($) |
Loan | 1 | Ohio Valley Plaza | 6,029,329 | 855,000 | 5,174,328 | 12/31/2015 | 6,162,002 | 1,044,338 | 5,117,664 | 12/31/2014 | 6,039,024 | 839,542 | 5,199,482 | 9.3% | 8.5% | 5,502,869 | 6,022,356 |
Loan | 2 | Pershing Square Building(19)(33) | 5,108,898 | 1,443,944 | 3,664,954 | 12/31/2016 | 4,908,731 | 1,421,753 | 3,486,978 | 12/31/2015 | 4,316,441 | 1,238,024 | 3,078,416 | 10.5% | 10.0% | 5,908,934 | 6,390,108 |
Loan | 3 | Crossings at Hobart(32) | 9,391,290 | 3,537,352 | 5,853,938 | 12/31/2015 | 9,148,350 | 3,671,439 | 5,476,911 | 12/31/2014 | 9,346,160 | 4,053,251 | 5,292,909 | 10.1% | 9.2% | 6,890,528 | 9,202,949 |
Loan | 4 | Yeshiva University Portfolio(32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12.9% | 11.7% | 19,094,070 | 18,026,336 |
Property | 4.01 | 2495 Amsterdam Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7,375,149 | 6,932,640 | ||
Property | 4.02 | 215 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 3,848,809 | 3,656,369 | ||
Property | 4.03 | 2520 Amsterdam Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 3,927,891 | 3,692,217 | ||
Property | 4.04 | 245 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 2,893,072 | 2,748,419 | ||
Property | 4.05 | 253 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 1,049,149 | 996,691 | ||
Loan | 5 | 380 Lafayette Street | 1,841,572 | 631,938 | 1,209,634 | 12/31/2016 | 1,777,064 | 613,344 | 1,163,720 | 12/31/2015 | 1,764,310 | 591,557 | 1,172,753 | 7.4% | 7.3% | 3,285,390 | 3,183,821 |
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 50,552,560 | 32,379,885 | 18,172,675 | 12/31/2016 | 50,570,731 | 32,478,907 | 18,091,824 | 12/31/2015 | 51,526,380 | 34,932,216 | 16,594,165 | 15.7% | 13.7% | 50,254,774 | 50,254,774 |
Property | 6.01 | Hilton Anchorage | 23,073,940 | 14,450,386 | 8,623,554 | 12/31/2016 | 23,179,796 | 14,528,484 | 8,651,312 | 12/31/2015 | 24,591,971 | 15,257,381 | 9,334,591 | 23,010,897 | 23,010,897 | ||
Property | 6.02 | Renaissance Atlanta | 27,478,620 | 17,929,499 | 9,549,121 | 12/31/2016 | 27,390,935 | 17,950,423 | 9,440,511 | 12/31/2015 | 26,934,409 | 19,674,835 | 7,259,574 | 27,243,877 | 27,243,877 | ||
Loan | 7 | EIP Logistics Portfolio(32) | 5,197,244 | 1,090,454 | 4,106,789 | 12/31/2015 | 5,233,624 | 1,260,109 | 3,973,515 | 12/31/2014 | 5,187,710 | 1,272,746 | 3,914,964 | 10.5% | 9.6% | 5,280,624 | 5,707,390 |
Property | 7.01 | Mercury Paper, Inc. | 2,937,453 | 231,537 | 2,705,916 | 12/31/2015 | 2,858,760 | 219,042 | 2,639,718 | 12/31/2014 | 2,785,031 | 218,305 | 2,566,726 | 2,835,163 | 3,025,885 | ||
Property | 7.02 | Precision Park | 2,259,790 | 858,917 | 1,400,873 | 12/31/2015 | 2,374,864 | 1,041,067 | 1,333,797 | 12/31/2014 | 2,402,679 | 1,054,441 | 1,348,238 | 2,445,461 | 2,681,505 | ||
Loan | 8 | North Creek Office Complex | 4,809,711 | 2,310,681 | 2,499,031 | 12/31/2015 | 3,650,892 | 2,264,111 | 1,386,781 | NAP | NAP | NAP | NAP | 12.5% | 10.3% | 3,400,453 | 5,853,620 |
Loan | 9 | Flats East Bank Phase I | 8,145,282 | 5,395,097 | 2,750,185 | 12/31/2016 | 8,327,876 | 5,491,506 | 2,836,370 | 12/31/2015 | 8,213,233 | 5,511,750 | 2,701,483 | 11.1% | 9.8% | 8,132,914 | 8,132,914 |
Loan | 10 | Google Kirkland Campus Phase II(32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.8% | 9.5% | 7,419,939 | 9,585,766 |
Loan | 11 | Art Van Portfolio(32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.1% | 9.4% | 7,295,601 | 7,134,388 |
Property | 11.01 | Warren Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4,069,027 | 3,978,976 | ||
Property | 11.02 | Comstock Park Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 1,205,000 | 1,178,427 | ||
Property | 11.03 | Grand Rapids Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 990,150 | 968,421 | ||
Property | 11.04 | Bloomfield Hills Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 579,850 | 566,984 | ||
Property | 11.05 | Mattress Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 451,574 | 441,580 | ||
Loan | 12 | MVP Parking Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.7% | 9.6% | 1,892,000 | 1,884,402 |
Property | 12.01 | White Front Garage Partners | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 700,000 | 665,000 | ||
Property | 12.02 | St. Louis Seventh & Cerre | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 225,000 | 233,539 | ||
Property | 12.03 | MVP Houston San Jacinto Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 264,000 | 266,760 | ||
Property | 12.04 | MVP Louisville Station Broadway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 200,000 | 215,000 | ||
Property | 12.05 | St. Louis Broadway Group | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 180,000 | 190,600 | ||
Property | 12.06 | MVP Houston Preston Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 228,000 | 216,600 | ||
Property | 12.07 | MVP Indianapolis Meridian Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 95,000 | 96,903 | ||
Loan | 13 | 340 Bryant (32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.2% | 10.0% | 3,999,600 | 4,393,984 |
Loan | 14 | Rearden Storage Portfolio | 2,575,056 | 877,408 | 1,697,648 | 12/31/2016 | 2,557,690 | 893,148 | 1,664,542 | 12/31/2015 | 2,399,128 | 886,066 | 1,513,062 | 9.9% | 9.7% | 2,908,078 | 2,550,564 |
Property | 14.01 | Forest Central Self Storage | 1,068,701 | 329,593 | 739,108 | 12/31/2016 | 1,060,966 | 335,744 | 725,222 | 12/31/2015 | 1,054,577 | 347,611 | 706,966 | 1,237,409 | 1,066,548 | ||
Property | 14.02 | Carrollton Self Storage | 1,039,552 | 341,347 | 698,206 | 12/31/2016 | 1,041,720 | 345,284 | 696,436 | 12/31/2015 | 951,015 | 348,427 | 602,588 | 1,070,988 | 1,017,548 | ||
Property | 14.03 | Frame Street Self Storage | 466,803 | 206,469 | 260,334 | 12/31/2016 | 455,004 | 212,121 | 242,883 | 12/31/2015 | 393,536 | 190,028 | 203,508 | 599,681 | 466,468 | ||
Loan | 15 | Courtyard Marriott Shadyside | 5,832,053 | 3,913,034 | 1,919,019 | 12/31/2015 | 6,535,104 | 4,172,746 | 2,362,358 | 12/31/2014 | 6,243,123 | 4,052,835 | 2,190,288 | 12.3% | 10.8% | 5,045,905 | 5,818,989 |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 18,476,097 | 8,871,866 | 9,604,231 | 12/31/2015 | 18,714,705 | 8,448,778 | 10,265,927 | 12/31/2014 | 17,454,968 | 8,373,140 | 9,081,828 | 13.9% | 12.8% | 18,138,063 | 19,603,998 |
Loan | 17 | Brink’s Office | 1,002,894 | 1,002,894 | 12/31/2015 | 1,504,341 | 1,504,341 | 12/31/2014 | 1,504,341 | 1,504,341 | 11.0% | 10.2% | 1,517,476 | 2,381,652 | |||
Loan | 18 | Centre Place I | 1,578,598 | 416,796 | 1,161,802 | 12/31/2014 | 1,533,062 | 412,494 | 1,120,568 | NAP | NAP | NAP | NAP | 8.8% | 8.6% | 1,372,473 | 1,740,030 |
Loan | 19 | Euless Town Center | 1,724,172 | 564,417 | 1,159,755 | 12/31/2016 | 1,590,922 | 564,486 | 1,026,435 | 12/31/2015 | 1,696,314 | 525,150 | 1,171,164 | 10.6% | 9.5% | 1,404,760 | 1,888,728 |
Loan | 20 | Town Park Apartments | 2,745,487 | 1,237,562 | 1,507,925 | 12/31/2015 | 2,492,609 | 1,208,963 | 1,283,646 | 12/31/2014 | 2,269,879 | 1,261,029 | 1,008,850 | 10.8% | 10.1% | 2,602,872 | 2,714,464 |
Loan | 21 | Baypoint Commerce Center(32) | 9,134,443 | 5,503,916 | 3,630,527 | 12/31/2015 | 8,174,845 | 5,712,932 | 2,461,913 | 12/31/2014 | 7,518,355 | 5,609,065 | 1,909,290 | 14.3% | 11.2% | 10,605,496 | 11,530,554 |
Loan | 22 | Center West(32) | 13,076,932 | 5,912,256 | 7,164,676 | 12/31/2015 | 12,153,426 | 5,478,358 | 6,675,068 | 12/31/2014 | 12,965,924 | 5,536,272 | 7,429,652 | 9.7% | 8.7% | 11,256,360 | 13,841,932 |
Loan | 23 | Persis STNL Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.4% | 9.2% | 982,812 | 955,898 |
Property | 23.01 | Outback Steakhouse Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 364,479 | 353,545 | ||
Property | 23.02 | Outback Steakhouse Sanford | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 275,670 | 267,400 | ||
Property | 23.03 | Outback Steakhouse Naperville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 256,982 | 249,273 | ||
Property | 23.04 | Panda Express Camillus | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 85,680 | 85,680 | ||
Loan | 24 | Springhill Suites Tampa(33) | 3,201,966 | 2,019,271 | 1,182,695 | 12/31/2016 | 3,166,610 | 1,974,926 | 1,191,685 | 12/31/2015 | 2,971,252 | 1,846,283 | 1,124,968 | 12.6% | 11.3% | 3,147,538 | 3,201,966 |
Loan | 25 | Hickory Corners | 907,775 | 241,831 | 665,944 | 12/31/2015 | 1,104,557 | 242,525 | 862,032 | 12/31/2014 | 1,106,115 | 243,862 | 862,253 | 11.5% | 10.3% | 1,173,184 | 1,342,349 |
Loan | 26 | Gwinnett MF Portfolio | 1,072,488 | 358,408 | 714,080 | 12/31/2015 | 1,039,045 | 336,877 | 702,168 | 12/31/2014 | 1,036,873 | 322,688 | 714,184 | 9.0% | 8.6% | 1,127,676 | 1,083,787 |
Loan | 27 | Comfort Inn & Suites-Seattle | 2,241,654 | 1,324,817 | 916,836 | 12/31/2015 | 2,139,536 | 1,274,287 | 865,249 | 12/31/2014 | 1,889,796 | 1,175,420 | 714,376 | 12.1% | 10.9% | 2,235,578 | 2,235,578 |
Loan | 28 | Highpark Corporate Center | 1,167,831 | 422,383 | 745,448 | 12/31/2015 | 868,153 | 367,885 | 500,268 | 12/31/2014 | 973,918 | 357,876 | 616,042 | 12.1% | 11.0% | 1,459,809 | 1,349,650 |
Loan | 29 | Oak Leaf Village Apartments | 1,989,002 | 920,611 | 1,068,391 | 12/31/2015 | 1,836,705 | 885,905 | 950,800 | 12/31/2014 | 1,718,068 | 885,171 | 832,897 | 13.5% | 12.6% | 2,054,460 | 2,033,167 |
Loan | 30 | Walgreens Portland | 580,000 | 580,000 | 12/31/2016 | 580,000 | 580,000 | 12/31/2015 | 580,000 | 580,000 | 8.3% | 8.3% | 580,000 | 580,000 | |||
Loan | 31 | Rite Aid Portfolio Lima OH | 805,244 | 805,244 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11.3% | 11.2% | 805,244 | 764,982 | |
Property | 31.01 | Rite Aid West Robb | 447,260 | 447,260 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 447,260 | 424,897 | |||
Property | 31.02 | Rite Aid 506 West Market | 357,984 | 357,984 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 357,984 | 340,085 | |||
Loan | 32 | AAAABCO Mini Storage | 1,004,346 | 388,733 | 615,614 | 12/31/2016 | 981,090 | 386,506 | 594,584 | 12/31/2015 | 841,457 | 359,351 | 482,106 | 10.4% | 9.9% | 989,586 | 1,066,522 |
Loan | 33 | Walgreens Bangor | 465,000 | 465,000 | 12/31/2016 | 465,000 | 465,000 | 12/31/2015 | 465,000 | 465,000 | 8.2% | 8.2% | 465,000 | 465,000 | |||
Loan | 34 | Orchid Centre | 819,916 | 285,336 | 534,580 | 12/31/2015 | 810,954 | 251,659 | 559,295 | 12/31/2014 | 858,552 | 239,037 | 619,515 | 8.6% | 8.2% | 505,114 | 771,885 |
Loan | 35 | Microtel Georgetown | 1,821,415 | 1,000,412 | 821,003 | 12/31/2016 | 1,772,530 | 980,674 | 791,856 | 12/31/2015 | 1,354,646 | 831,964 | 522,682 | 13.3% | 12.0% | 1,808,110 | 1,837,778 |
Loan | 36 | KB St. Louis Dialysis Portfolio | 513,022 | 513,022 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.7% | 9.3% | 540,239 | 664,351 | |
Property | 36.01 | Fresenius St. Louis | 339,904 | 339,904 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 367,121 | 425,408 | |||
Property | 36.02 | DaVita St. Louis | 173,118 | 173,118 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 173,118 | 238,943 | |||
Loan | 37 | Texas Hotel Pair | 2,578,399 | 1,598,324 | 980,075 | 12/31/2016 | 2,526,124 | 1,575,837 | 950,287 | 12/31/2015 | 2,449,935 | 1,349,271 | 1,100,664 | 19.0% | 17.0% | 2,553,409 | 2,578,399 |
Property | 37.01 | Comfort Inn & Suites | 1,697,537 | 1,026,418 | 671,119 | 12/31/2016 | 1,637,482 | 1,003,345 | 634,137 | 12/31/2015 | 1,530,258 | 810,074 | 720,183 | 1,686,090 | 1,697,537 | ||
Property | 37.02 | Motel 6 | 880,861 | 571,905 | 308,956 | 12/31/2016 | 888,642 | 572,492 | 316,149 | 12/31/2015 | 919,677 | 539,196 | 380,481 | 867,319 | 880,861 | ||
Loan | 38 | Park Pineway Plaza | 655,662 | 169,393 | 486,269 | 12/31/2015 | 502,865 | 173,069 | 329,796 | 12/31/2014 | 507,353 | 175,222 | 332,131 | 11.1% | 10.1% | 605,519 | 667,799 |
Loan | 39 | 123 Church Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.3% | 9.6% | 620,895 | 828,164 |
Loan | 40 | Summerhill Office Plaza | 905,200 | 255,420 | 649,780 | 12/31/2016 | 902,782 | 300,057 | 602,725 | 12/31/2015 | 919,031 | 328,730 | 590,301 | 14.3% | 13.0% | 723,430 | 879,260 |
Loan | 41 | Comfort Suites Tucson | 1,910,204 | 1,421,706 | 488,497 | 12/31/2016 | 1,852,319 | 1,398,440 | 453,879 | 12/31/2015 | 1,649,924 | 1,292,866 | 357,058 | 14.8% | 12.6% | 1,850,360 | 1,910,205 |
Loan | 42 | Best Western Syracuse-Liverpool | 1,390,950 | 887,141 | 503,809 | 12/31/2015 | 1,307,808 | 829,829 | 477,979 | 12/31/2014 | 1,272,554 | 853,484 | 419,070 | 14.9% | 13.0% | 1,372,239 | 1,390,950 |
Loan | 43 | Bent Tree Apartments | 468,944 | 237,183 | 231,761 | 12/31/2016 | 472,934 | 228,965 | 243,969 | 12/31/2015 | 451,540 | 224,262 | 227,278 | 9.2% | 8.3% | 480,021 | 468,944 |
A-1-4
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Property | Underwritten | Underwritten | Underwritten | Underwritten | Underwritten | Ownership | Ground Lease | Ground Lease | Lease | Lease | ||||||
Flag | ID | Property Name | Expenses($) | NOI ($) | Reserves($) | TI/LC($) | NCF($) | Interest(17) | Expiration(18) | Extension Terms(18) | Largest Tenant (19)(20)(21)(22)(24) | Sq. Ft. | Expiration(21) | 2nd Largest Tenant(20)(21)(22)(23)(24) | Sq. Ft. | Expiration(21) |
Loan | 1 | Ohio Valley Plaza | 912,832 | 5,109,525 | 98,650 | 328,834 | 4,682,040 | Fee Simple | Wal-Mart Supercenter | 200,659 | 01/31/2027 | Lowe’s | 130,497 | 11/30/2021 | ||
Loan | 2 | Pershing Square Building(19)(33) | 1,787,133 | 4,602,975 | 38,345 | 153,381 | 4,411,249 | Fee Simple | Turner Broadcasting System | 21,631 | 03/31/2018 | Perch | 14,969 | 12/31/2031 | ||
Loan | 3 | Crossings at Hobart(32) | 3,466,333 | 5,736,616 | 110,724 | 386,192 | 5,239,701 | Fee Simple | Wal-Mart Real Estate Business Trust dba Walmart Supercenter | 206,408 | 03/31/2023 | Burlington Coat Factory of Indiana, LLC dba Burlington Coat Factory | 102,788 | 01/31/2021 | ||
Loan | 4 | Yeshiva University Portfolio(32) | 18,026,336 | 232,828 | 1,392,742 | 16,400,766 | Fee Simple | |||||||||
Property | 4.01 | 2495 Amsterdam Avenue | 6,932,640 | 73,960 | 591,388 | 6,267,292 | Fee Simple | Yeshiva University | 295,694 | 04/30/2037 | NAP | NAP | NAP | |||
Property | 4.02 | 215 Lexington Avenue | 3,656,369 | 9,919 | 222,540 | 3,423,910 | Fee Simple | Yeshiva University | 111,270 | 04/30/2037 | NAP | NAP | NAP | |||
Property | 4.03 | 2520 Amsterdam Avenue | 3,692,217 | 39,994 | 326,642 | 3,325,581 | Fee Simple | Yeshiva University | 163,321 | 04/30/2037 | NAP | NAP | NAP | |||
Property | 4.04 | 245 Lexington Avenue | 2,748,419 | 66,117 | 175,854 | 2,506,448 | Fee Simple | Yeshiva University | 87,927 | 04/30/2037 | NAP | NAP | NAP | |||
Property | 4.05 | 253 Lexington Avenue | 996,691 | 42,838 | 76,318 | 877,535 | Fee Simple | Yeshiva University | 38,159 | 04/30/2037 | NAP | NAP | NAP | |||
Loan | 5 | 380 Lafayette Street | 764,686 | 2,419,134 | 10,578 | 45,678 | 2,362,878 | Fee Simple | Select Equity | 45,678 | 04/30/2037 | NAP | NAP | NAP | ||
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 32,299,376 | 17,955,398 | 2,282,630 | 15,672,769 | Various | |||||||||
Property | 6.01 | Hilton Anchorage | 14,435,058 | 8,575,839 | 920,436 | 7,655,403 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Property | 6.02 | Renaissance Atlanta | 17,864,317 | 9,379,560 | 1,362,194 | 8,017,366 | Leasehold | 06/28/2078 | NAP | NAP | NAP | NAP | NAP | NAP | ||
Loan | 7 | EIP Logistics Portfolio(32) | 1,415,568 | 4,291,822 | 120,000 | 240,000 | 3,931,822 | Fee Simple | ||||||||
Property | 7.01 | Mercury Paper, Inc. | 375,058 | 2,650,827 | 45,063 | 90,127 | 2,515,638 | Fee Simple | Mercury Paper, Inc. | 407,248 | 07/31/2024 | NAP | NAP | NAP | ||
Property | 7.02 | Precision Park | 1,040,510 | 1,640,995 | 74,937 | 149,873 | 1,416,184 | Fee Simple | Amtrol | 228,088 | 04/30/2020 | Anvil International | 204,868 | 03/31/2022 | ||
Loan | 8 | North Creek Office Complex | 2,613,816 | 3,239,804 | 64,726 | 485,444 | 2,689,635 | Fee Simple | CSAA Insurance Services, LLC | 73,701 | 10/31/2018 | Firstsource Group USA, Inc. | 64,374 | 07/31/2020 | ||
Loan | 9 | Flats East Bank Phase I | 5,484,864 | 2,648,050 | 270,604 | 38,141 | 2,339,305 | Fee Simple | EB Fitness | 16,071 | 12/31/2017 | Bold Eatery | 5,689 | 12/31/2025 | ||
Loan | 10 | Google Kirkland Campus Phase II(32) | 2,460,526 | 7,125,240 | 36,169 | 180,844 | 6,908,227 | Fee Simple | 125,520 | 11/30/2027 | 55,324 | 01/31/2029 | ||||
Loan | 11 | Art Van Portfolio(32) | 214,032 | 6,920,356 | 185,242 | 243,737 | 6,491,378 | Fee Simple | ||||||||
Property | 11.01 | Warren Distribution Center | 119,369 | 3,859,607 | 105,689 | 97,133 | 3,656,785 | Fee Simple | Art Van Furniture, Inc. | 1,056,890 | 02/28/2037 | NAP | NAP | NAP | ||
Property | 11.02 | Comstock Park Retail | 35,353 | 1,143,074 | 25,355 | 54,147 | 1,063,572 | Fee Simple | Art Van Furniture, Inc. | 96,400 | 02/28/2037 | NAP | NAP | NAP | ||
Property | 11.03 | Grand Rapids Retail | 29,053 | 939,369 | 23,888 | 44,492 | 870,988 | Fee Simple | Art Van Furniture, Inc. | 79,212 | 02/28/2037 | NAP | NAP | NAP | ||
Property | 11.04 | Bloomfield Hills Retail | 17,010 | 549,974 | 17,407 | 26,056 | 506,512 | Fee Simple | Art Van Furniture, Inc. | 46,388 | 02/28/2037 | NAP | NAP | NAP | ||
Property | 11.05 | Mattress Distribution Center | 13,247 | 428,333 | 12,902 | 21,909 | 393,521 | Fee Simple | Art Van Furniture, Inc. | 129,021 | 02/28/2037 | NAP | NAP | NAP | ||
Loan | 12 | MVP Parking Portfolio | 304,937 | 1,579,465 | 23,936 | 1,555,530 | Fee Simple | |||||||||
Property | 12.01 | White Front Garage Partners | 25,614 | 639,386 | 7,942 | 631,444 | Fee Simple | Premier Parking | 155 | 09/30/2026 | NAP | NAP | NAP | |||
Property | 12.02 | St. Louis Seventh & Cerre | 23,607 | 209,932 | 3,800 | 206,132 | Fee Simple | St. Louis Parking Company (Lot) | 152 | 01/31/2022 | NAP | NAP | NAP | |||
Property | 12.03 | MVP Houston San Jacinto Lot | 110,284 | 156,476 | 2,219 | 154,257 | Fee Simple | iPark Services (Lot) | 85 | 11/30/2026 | NAP | NAP | NAP | |||
Property | 12.04 | MVP Louisville Station Broadway | 51,620 | 163,380 | 4,125 | 159,255 | Fee Simple | Riverside Parking (Lot) | 165 | 08/22/2021 | NAP | NAP | NAP | |||
Property | 12.05 | St. Louis Broadway Group | 26,355 | 164,245 | 3,800 | 160,445 | Fee Simple | St. Louis Parking Company (Lot) | 152 | 01/31/2022 | NAP | NAP | NAP | |||
Property | 12.06 | MVP Houston Preston Lot | 45,564 | 171,036 | 1,150 | 169,886 | Fee Simple | iPark Services (Lot) | 46 | 11/30/2026 | NAP | NAP | NAP | |||
Property | 12.07 | MVP Indianapolis Meridian Lot | 21,893 | 75,010 | 900 | 74,110 | Fee Simple | Denison (Lot) | 36 | 01/14/2026 | NAP | NAP | NAP | |||
Loan | 13 | 340 Bryant (32) | 1,261,563 | 3,132,422 | 12,454 | 62,271 | 3,057,696 | Fee Simple | Switchfly, Inc. | 47,673 | 11/30/2025 | Skullcandy, Inc. | 14,597 | 03/31/2023 | ||
Loan | 14 | Rearden Storage Portfolio | 969,599 | 1,580,966 | 35,251 | 1,545,715 | Fee Simple | |||||||||
Property | 14.01 | Forest Central Self Storage | 366,854 | 699,694 | 11,285 | 688,410 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Property | 14.02 | Carrollton Self Storage | 378,942 | 638,606 | 14,330 | 624,277 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Property | 14.03 | Frame Street Self Storage | 223,803 | 242,665 | 9,636 | 233,029 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 15 | Courtyard Marriott Shadyside | 3,919,281 | 1,899,708 | 232,760 | 1,666,949 | Fee Simple / Leasehold | 02/26/2042 | None | NAP | NAP | NAP | NAP | NAP | NAP | |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 9,660,974 | 9,943,024 | 784,160 | 9,158,865 | Fee Simple / Leasehold | 12/31/2017 | 11, 1-year options | NAP | NAP | NAP | NAP | NAP | NAP | |
Loan | 17 | Brink’s Office | 796,571 | 1,585,081 | 15,277 | 101,844 | 1,467,960 | Fee Simple | Brink’s Incorporated | 101,844 | 04/30/2027 | NAP | NAP | NAP | ||
Loan | 18 | Centre Place I | 477,531 | 1,262,499 | 3,541 | 35,414 | 1,223,544 | Fee Simple | Charles Schwab & Co. | 13,157 | 01/31/2026 | The Habit Burger | 1,800 | 11/30/2020 | ||
Loan | 19 | Euless Town Center | 540,427 | 1,348,301 | 59,880 | 79,069 | 1,209,353 | Fee Simple | IT’Z FEC Euless, LLC | 61,453 | 10/31/2020 | Channel Control Merchants | 35,848 | 04/30/2021 | ||
Loan | 20 | Town Park Apartments | 1,366,959 | 1,347,505 | 85,000 | 1,262,505 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 21 | Baypoint Commerce Center(32) | 5,810,777 | 5,719,777 | 137,956 | 1,114,113 | 4,467,708 | Fee Simple | COX Target Media Inc. | 49,013 | 12/31/2022 | Wright National Flood Insurance | 35,168 | 04/30/2023 | ||
Loan | 22 | Center West(32) | 6,099,920 | 7,742,012 | 69,860 | 681,519 | 6,990,633 | Leasehold | 12/23/2085 | None | Merrill Lynch | 23,121 | 04/30/2022 | Aurora Capital Group | 22,911 | 03/31/2021 |
Loan | 23 | Persis STNL Portfolio | 36,682 | 919,215 | 2,820 | 15,948 | 900,447 | Fee Simple | ||||||||
Property | 23.01 | Outback Steakhouse Las Vegas | 12,980 | 340,565 | 948 | 5,376 | 334,241 | Fee Simple | Outback Steakhouse | 6,317 | 03/09/2032 | NAP | NAP | NAP | ||
Property | 23.02 | Outback Steakhouse Sanford | 11,142 | 256,258 | 936 | 5,268 | 250,054 | Fee Simple | Outback Steakhouse | 6,194 | 03/09/2032 | NAP | NAP | NAP | ||
Property | 23.03 | Outback Steakhouse Naperville | 10,810 | 238,462 | 936 | 5,304 | 232,222 | Fee Simple | Outback Steakhouse | 6,227 | 03/16/2032 | NAP | NAP | NAP | ||
Property | 23.04 | Panda Express Camillus | 1,750 | 83,930 | 83,930 | Fee Simple | 12/31/2035 | 5 options, 5 years each | Panda Express | 2,776 | 02/14/2036 | NAP | NAP | NAP | ||
Loan | 24 | Springhill Suites Tampa(33) | 1,993,591 | 1,208,376 | 128,079 | 1,080,297 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 25 | Hickory Corners | 276,001 | 1,066,348 | 23,471 | 84,000 | 958,877 | Fee Simple | Hamrick’s, Incorporated | 50,022 | 03/31/2021 | Conn Appliances, Inc. | 44,994 | 05/31/2027 | ||
Loan | 26 | Gwinnett MF Portfolio | 393,886 | 689,901 | 32,250 | 657,651 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 27 | Comfort Inn & Suites-Seattle | 1,332,651 | 902,927 | 89,423 | 813,504 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 28 | Highpark Corporate Center | 462,925 | 886,725 | 13,428 | 67,141 | 806,156 | Fee Simple | Fusion Learning, Inc. | 12,133 | 06/30/2025 | Orange County Charter School | 11,110 | 11/30/2020 | ||
Loan | 29 | Oak Leaf Village Apartments | 1,056,850 | 976,316 | 68,400 | 907,916 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 30 | Walgreens Portland | 580,000 | 580,000 | Fee Simple | Walgreens Co. | 14,096 | 02/28/2085 | NAP | NAP | NAP | |||||
Loan | 31 | Rite Aid Portfolio Lima OH | 22,949 | 742,033 | 5,826 | 736,207 | Fee Simple | |||||||||
Property | 31.01 | Rite Aid West Robb | 12,747 | 412,151 | 2,913 | 409,238 | Fee Simple | Rite Aid | 14,564 | 01/31/2027 | NAP | NAP | NAP | |||
Property | 31.02 | Rite Aid 506 West Market | 10,203 | 329,882 | 2,913 | 326,969 | Fee Simple | Rite Aid | 14,564 | 01/31/2027 | NAP | NAP | NAP | |||
Loan | 32 | AAAABCO Mini Storage | 403,931 | 662,591 | 21,090 | 8,535 | 632,967 | Fee Simple | Leslie’s Poolmart, Inc. | 34,138 | 01/31/2023 | NAP | NAP | NAP | ||
Loan | 33 | Walgreens Bangor | 465,000 | 465,000 | Fee Simple | Walgreens Co. | 11,500 | 09/30/2084 | NAP | NAP | NAP | |||||
Loan | 34 | Orchid Centre | 292,590 | 479,296 | 4,385 | 17,054 | 457,856 | Fee Simple | EAS Bar Concepts Inc | 3,912 | 02/28/2021 | Dos Charros TexMex | 3,136 | 02/29/2020 | ||
Loan | 35 | Microtel Georgetown | 1,119,126 | 718,652 | 73,511 | 645,141 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 36 | KB St. Louis Dialysis Portfolio | 159,457 | 504,893 | 1,575 | 15,752 | 487,566 | Fee Simple | ||||||||
Property | 36.01 | Fresenius St. Louis | 77,808 | 347,599 | 770 | 7,700 | 339,129 | Fee Simple | Fresenius Medical Care | 7,700 | 06/30/2031 | NAP | NAP | NAP | ||
Property | 36.02 | DaVita St. Louis | 81,649 | 157,294 | 805 | 8,052 | 148,437 | Fee Simple | DaVita Dialysis | 8,052 | 11/30/2031 | NAP | NAP | NAP | ||
Loan | 37 | Texas Hotel Pair | 1,614,756 | 963,642 | 103,136 | 860,506 | Fee Simple | |||||||||
Property | 37.01 | Comfort Inn & Suites | 1,032,810 | 664,727 | 67,901 | 596,826 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Property | 37.02 | Motel 6 | 581,947 | 298,915 | 35,234 | 263,680 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 38 | Park Pineway Plaza | 124,869 | 542,929 | 12,878 | 34,340 | 495,711 | Fee Simple | Big Lots | 29,351 | 01/31/2021 | Sportsman’s Warehouse | 26,165 | 06/30/2025 | ||
Loan | 39 | 123 Church Street | 334,051 | 494,113 | 7,136 | 29,158 | 457,818 | Fee Simple | Square 9 Softworks, Inc. | 30,000 | 08/15/2022 | Connecticut CVS Pharmacy, L.L.C. | 8,874 | 01/31/2032 | ||
Loan | 40 | Summerhill Office Plaza | 257,703 | 621,557 | 13,044 | 42,655 | 565,858 | Fee Simple | Summerhill Executive | 27,476 | 06/30/2025 | ProCare Hospice | 7,003 | 02/28/2018 | ||
Loan | 41 | Comfort Suites Tucson | 1,413,258 | 496,947 | 76,408 | 420,538 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 42 | Best Western Syracuse-Liverpool | 946,547 | 444,403 | 55,638 | 388,765 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP | |||
Loan | 43 | Bent Tree Apartments | 239,694 | 229,250 | 22,200 | 207,050 | Fee Simple | NAP | NAP | NAP | NAP | NAP | NAP |
A-1-5
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Upfront | ||||||||||||||
Property | Lease | Lease | Lease | Occupancy | Replacement | |||||||||
Flag | ID | Property Name | 3rd Largest Tenant(21)(24) | Sq. Ft. | Expiration(21) | 4th Largest Tenant(21) | Sq. Ft. | Expiration(21) | 5th Largest Tenant(21) | Sq. Ft. | Expiration(21) | Occupancy | As-of Date | Reserves($)(26) |
Loan | 1 | Ohio Valley Plaza | Sam’s Club | 113,661 | 04/15/2022 | Kroger | 63,265 | 06/30/2025 | Value City Furniture | 34,900 | 01/31/2021 | 99.7% | 02/23/2017 | |
Loan | 2 | Pershing Square Building(19)(33) | Hill Corner LLC (Mrs. Fish) | 10,415 | 12/31/2031 | The Community Redevelopment Agency of the City of Los Angeles | 10,200 | 08/31/2021 | BLVD Centers Inc | 9,922 | 07/31/2017 | 97.1% | 05/01/2017 | |
Loan | 3 | Crossings at Hobart(32) | HobLob, Limited Partnership dba Hobby Lobby | 60,000 | 08/31/2019 | American Signature, Inc. dba Value City Furniture | 48,230 | 01/31/2020 | Best Buy Stores, L.P. dba Best Buy | 44,997 | 01/31/2023 | 97.7% | 01/03/2017 | |
Loan | 4 | Yeshiva University Portfolio(32) | 100.0% | 05/06/2017 | ||||||||||
Property | 4.01 | 2495 Amsterdam Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 4.02 | 215 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 4.03 | 2520 Amsterdam Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 4.04 | 245 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 4.05 | 253 Lexington Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 5 | 380 Lafayette Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 64.9% | 01/31/2017 | ||||||||||
Property | 6.01 | Hilton Anchorage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 57.6% | 01/31/2017 | |
Property | 6.02 | Renaissance Atlanta | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 76.4% | 01/31/2017 | |
Loan | 7 | EIP Logistics Portfolio(32) | 86.9% | 02/23/2017 | 1,946,981 | |||||||||
Property | 7.01 | Mercury Paper, Inc. | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 02/23/2017 | |
Property | 7.02 | Precision Park | Regency Transportation | 60,000 | 02/01/2022 | BSM Pump Corp. | 42,607 | 09/30/2021 | NAP | NAP | NAP | 79.1% | 02/23/2017 | |
Loan | 8 | North Creek Office Complex | PIMA Medical | 25,927 | 09/30/2028 | Econolite Group Inc. | 17,838 | 12/31/2026 | PMC Sierra, Inc. | 15,600 | 12/31/2017 | 84.8% | 02/01/2017 | 91,250 |
Loan | 9 | Flats East Bank Phase I | Lago Flats | 5060 | 08/31/2028 | Flip Side | 3326 | 04/30/2025 | NAP | NAP | NAP | 78.7% | 02/28/2017 | |
Loan | 10 | Google Kirkland Campus Phase II(32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 11 | Art Van Portfolio(32) | 100.0% | 05/06/2017 | ||||||||||
Property | 11.01 | Warren Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 11.02 | Comstock Park Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 11.03 | Grand Rapids Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 11.04 | Bloomfield Hills Retail | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 11.05 | Mattress Distribution Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 12 | MVP Parking Portfolio | 100.0% | 05/06/2017 | ||||||||||
Property | 12.01 | White Front Garage Partners | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.02 | St. Louis Seventh & Cerre | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.03 | MVP Houston San Jacinto Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.04 | MVP Louisville Station Broadway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.05 | St. Louis Broadway Group | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.06 | MVP Houston Preston Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 12.07 | MVP Indianapolis Meridian Lot | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 13 | 340 Bryant (32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 02/08/2017 | |
Loan | 14 | Rearden Storage Portfolio | 92.1% | 02/28/2017 | ||||||||||
Property | 14.01 | Forest Central Self Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 92.5% | 02/28/2017 | |
Property | 14.02 | Carrollton Self Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 89.6% | 02/28/2017 | |
Property | 14.03 | Frame Street Self Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 96.5% | 02/28/2017 | |
Loan | 15 | Courtyard Marriott Shadyside | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 66.7% | 12/31/2016 | |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 79.9% | 01/31/2017 | 62,944 |
Loan | 17 | Brink’s Office | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 18 | Centre Place I | Baja Fresh | 1,550 | 07/31/2021 | YogurtLand | 1,200 | 02/28/2021 | NAP | NAP | NAP | 100.0% | 12/12/2016 | |
Loan | 19 | Euless Town Center | Ross | 27,200 | 01/31/2026 | Aldi | 18,588 | 12/31/2023 | Xue’s, Inc. dba Yichiban Sushi | 7,595 | 02/28/2026 | 80.0% | 03/20/2017 | |
Loan | 20 | Town Park Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 94.4% | 01/31/2017 | 500,000 |
Loan | 21 | Baypoint Commerce Center(32) | Jabil Circuit Inc | 34,956 | 06/30/2019 | United States of America IRS | 30,426 | 11/20/2019 | Beasley FM Acquisition Corp | 27,275 | 08/31/2024 | 85.3% | 03/03/2017 | |
Loan | 22 | Center West(32) | Radar Pictures | 16,894 | 09/20/2020 | Wells Fargo Advisors | 16,894 | 07/31/2024 | Rentech | 16,567 | 06/14/2020 | 57.1% | 11/02/2016 | |
Loan | 23 | Persis STNL Portfolio | 100.0% | 05/06/2017 | ||||||||||
Property | 23.01 | Outback Steakhouse Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 23.02 | Outback Steakhouse Sanford | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 23.03 | Outback Steakhouse Naperville | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 23.04 | Panda Express Camillus | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 24 | Springhill Suites Tampa(33) | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 77.6% | 01/31/2017 | |
Loan | 25 | Hickory Corners | Toys “R” Us - Delaware, Inc | 31,900 | 01/31/2023 | Kid’s Stuff of Hickory, LLC | 9,650 | 01/31/2019 | S&S Kelly Hobbies, Inc. | 5,508 | 08/31/2019 | 99.2% | 01/12/2017 | 644,000 |
Loan | 26 | Gwinnett MF Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 01/05/2017 | |
Loan | 27 | Comfort Inn & Suites-Seattle | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 77.4% | 12/31/2016 | |
Loan | 28 | Highpark Corporate Center | Kingsfield Church | 8,470 | 03/31/2021 | FDM, LLC | 4,397 | 08/31/2019 | Tapestry Church | 4,345 | 12/31/2017 | 88.8% | 01/01/2017 | |
Loan | 29 | Oak Leaf Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 97.4% | 01/31/2017 | 150,000 |
Loan | 30 | Walgreens Portland | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 31 | Rite Aid Portfolio Lima OH | 100.0% | 05/06/2017 | ||||||||||
Property | 31.01 | Rite Aid West Robb | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 31.02 | Rite Aid 506 West Market | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 32 | AAAABCO Mini Storage | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 68.4% | 02/23/2017 | |
Loan | 33 | Walgreens Bangor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 34 | Orchid Centre | Best Chinese BBQ | 1,970 | 01/31/2018 | McKinney Math Learning Center | 1,850 | 09/30/2020 | Alexander Dental | 1,788 | 03/31/2021 | 86.0% | 02/17/2017 | |
Loan | 35 | Microtel Georgetown | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 42.1% | 02/28/2017 | |
Loan | 36 | KB St. Louis Dialysis Portfolio | 100.0% | 05/06/2017 | 15,752 | |||||||||
Property | 36.01 | Fresenius St. Louis | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Property | 36.02 | DaVita St. Louis | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 05/06/2017 | |
Loan | 37 | Texas Hotel Pair | 71.8% | 02/28/2017 | ||||||||||
Property | 37.01 | Comfort Inn & Suites | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 80.7% | 02/28/2017 | |
Property | 37.02 | Motel 6 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 62.5% | 02/28/2017 | |
Loan | 38 | Park Pineway Plaza | Harbor Freight Tools | 15,759 | 09/30/2026 | Aaron Rent’s | 9,576 | 12/31/2020 | Furniture Row - Big | 5,000 | 01/31/2020 | 100.0% | 02/21/2017 | |
Loan | 39 | 123 Church Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 100.0% | 03/29/2017 | |
Loan | 40 | Summerhill Office Plaza | JanTec | 3,216 | 02/28/2019 | The Flynn Group | 2,255 | 08/31/2019 | Accurate Billings | 2,156 | 03/31/2018 | 100.0% | 02/28/2017 | |
Loan | 41 | Comfort Suites Tucson | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 69.1% | 03/31/2017 | |
Loan | 42 | Best Western Syracuse-Liverpool | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 71.8% | 02/28/2017 | |
Loan | 43 | Bent Tree Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 95.9% | 03/01/2017 |
A-1-6
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Monthly | Upfront | Monthly | Upfront | Monthly | Upfront | Monthly | Upfront | Upfront | Monthly | |||
Property | Replacement | TI/LC | TI/LC | Tax | Tax | Insurance | Insurance | Engineering | Other | Other | ||
Flag | ID | Property Name | Reserves ($)(27)(28) | Reserves ($)(26) | Reserves ($)(27)(28) | Reserves ($)(26) | Reserves ($)(27)(28) | Reserves($)(26) | Reserves ($)(27)(28) | Reserve($)(26) | Reserves ($)(26) | Reserves ($)(27)(28) |
Loan | 1 | Ohio Valley Plaza | Springing | Springing | Springing | Springing | Springing | |||||
Loan | 2 | Pershing Square Building(19)(33) | 3,195 | 465,000 | 12,794 | 58,000 | 14,500 | 59,259 | 5,926 | 1,144,249 | 3,100,000 | |
Loan | 3 | Crossings at Hobart(32) | Springing | Springing | Springing | |||||||
Loan | 4 | Yeshiva University Portfolio(32) | 19,402 | Springing | Springing | 275,625 | ||||||
Property | 4.01 | 2495 Amsterdam Avenue | ||||||||||
Property | 4.02 | 215 Lexington Avenue | ||||||||||
Property | 4.03 | 2520 Amsterdam Avenue | ||||||||||
Property | 4.04 | 245 Lexington Avenue | ||||||||||
Property | 4.05 | 253 Lexington Avenue | ||||||||||
Loan | 5 | 380 Lafayette Street | 882 | 206,904 | 34,484 | 77,690 | 6,622 | Springing | ||||
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | 190,219 | 1,033,595 | 129,199 | 339,972 | 32,378 | 5,089,582 | Springing | |||
Property | 6.01 | Hilton Anchorage | 0 | |||||||||
Property | 6.02 | Renaissance Atlanta | 0 | |||||||||
Loan | 7 | EIP Logistics Portfolio(32) | Springing | 1,000,000 | 20,000 | 114,604 | 25,421 | 139,040 | 11,587 | 762,775 | Springing | |
Property | 7.01 | Mercury Paper, Inc. | ||||||||||
Property | 7.02 | Precision Park | ||||||||||
Loan | 8 | North Creek Office Complex | 5,394 | 2,000,000 | 40,454 | 161,846 | 30,828 | 32,735 | 6,235 | 2,881,910 | Springing | |
Loan | 9 | Flats East Bank Phase I | 415 | 2,764 | 90,000 | 75,216 | 51,000 | Springing | 250,000 | FF&E Reserves: 22,550; Seasonality Reserve Funds: 100,000; PIP Funds: Springing | ||
Loan | 10 | Google Kirkland Campus Phase II(32) | Springing | Springing | Springing | Springing | 343,318 | Springing | ||||
Loan | 11 | Art Van Portfolio(32) | Springing | Springing | Springing | Springing | 82,500 | Springing | ||||
Property | 11.01 | Warren Distribution Center | ||||||||||
Property | 11.02 | Comstock Park Retail | ||||||||||
Property | 11.03 | Grand Rapids Retail | ||||||||||
Property | 11.04 | Bloomfield Hills Retail | ||||||||||
Property | 11.05 | Mattress Distribution Center | ||||||||||
Loan | 12 | MVP Parking Portfolio | 1,995 | 76,342 | 19,400 | Springing | 180,000 | |||||
Property | 12.01 | White Front Garage Partners | ||||||||||
Property | 12.02 | St. Louis Seventh & Cerre | ||||||||||
Property | 12.03 | MVP Houston San Jacinto Lot | ||||||||||
Property | 12.04 | MVP Louisville Station Broadway | ||||||||||
Property | 12.05 | St. Louis Broadway Group | ||||||||||
Property | 12.06 | MVP Houston Preston Lot | ||||||||||
Property | 12.07 | MVP Indianapolis Meridian Lot | ||||||||||
Loan | 13 | 340 Bryant (32) | 1,038 | 5,189 | 145,000 | 48,333 | 13,868 | 1,981 | 500,000 | Springing | ||
Loan | 14 | Rearden Storage Portfolio | 2,938 | 79,900 | 19,975 | 27,358 | 2,563 | 92,990 | ||||
Property | 14.01 | Forest Central Self Storage | ||||||||||
Property | 14.02 | Carrollton Self Storage | ||||||||||
Property | 14.03 | Frame Street Self Storage | ||||||||||
Loan | 15 | Courtyard Marriott Shadyside | 4.0% of Gross Income from Operations of the preceding month. | 239,068 | 37,314 | Springing | 7,401 | 7,401 | ||||
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | 62,944 | 148,674 | 24,779 | 13,639 | 6,820 | 25,656 | 74,789 | 9,349 | ||
Loan | 17 | Brink’s Office | Springing | Springing | Springing | Springing | Springing | |||||
Loan | 18 | Centre Place I | 150,000 | 25,000 | 1,657 | 829 | Springing | |||||
Loan | 19 | Euless Town Center | 3,992 | 9,980 | 84,821 | 18,439 | 33,301 | 7,239 | 4,375 | 51,000 | Springing | |
Loan | 20 | Town Park Apartments | 7,083 | 58,494 | 18,570 | 158,941 | 12,614 | |||||
Loan | 21 | Baypoint Commerce Center(32) | 11,496 | 750,000 | 86,222 | 366,978 | 61,163 | Springing | 2,524,767 | Springing | ||
Loan | 22 | Center West(32) | Springing | Springing | Springing | Springing | 2,352,223 | Springing | ||||
Loan | 23 | Persis STNL Portfolio | Springing | Springing | Springing | 3,213 | 1,607 | |||||
Property | 23.01 | Outback Steakhouse Las Vegas | ||||||||||
Property | 23.02 | Outback Steakhouse Sanford | ||||||||||
Property | 23.03 | Outback Steakhouse Naperville | ||||||||||
Property | 23.04 | Panda Express Camillus | ||||||||||
Loan | 24 | Springhill Suites Tampa(33) | 10,971 | 57,880 | 8,770 | 24,807 | 3,759 | Springing | ||||
Loan | 25 | Hickory Corners | 1,956 | 150,000 | 7,000 | 19,134 | 9,111 | 22,333 | 2,127 | 72,989 | 20,000 | Springing |
Loan | 26 | Gwinnett MF Portfolio | 2,688 | 69,638 | 9,475 | 8,606 | 4,098 | 63,000 | ||||
Loan | 27 | Comfort Inn & Suites-Seattle | 5,589 | 32,120 | 5,098 | 3,115 | 1,483 | 12,406 | 5,000 | Springing | ||
Loan | 28 | Highpark Corporate Center | 1,119 | 5,595 | 18,000 | 6,000 | Springing | |||||
Loan | 29 | Oak Leaf Village Apartments | 5,700 | 27,521 | 8,737 | 57,938 | 9,197 | 78,469 | ||||
Loan | 30 | Walgreens Portland | Springing | Springing | Springing | Springing | Springing | |||||
Loan | 31 | Rite Aid Portfolio Lima OH | 486 | Springing | Springing | 3,011 | 376 | |||||
Property | 31.01 | Rite Aid West Robb | ||||||||||
Property | 31.02 | Rite Aid 506 West Market | ||||||||||
Loan | 32 | AAAABCO Mini Storage | 1,757 | 711 | 13,773 | 4,372 | 8,295 | 1,580 | 26,299 | 700,000 | Springing | |
Loan | 33 | Walgreens Bangor | Springing | Springing | Springing | Springing | Springing | |||||
Loan | 34 | Orchid Centre | 365 | 48,000 | 1,421 | 37,852 | 12,016 | 7,025 | 558 | |||
Loan | 35 | Microtel Georgetown | 5,892 | 16,125 | 1,792 | 14,039 | 1,755 | 20,000 | Springing | |||
Loan | 36 | KB St. Louis Dialysis Portfolio | Springing | 11,500 | Springing | 9,189 | 9,189 | 1,287 | 643 | 19,945 | ||
Property | 36.01 | Fresenius St. Louis | ||||||||||
Property | 36.02 | DaVita St. Louis | ||||||||||
Loan | 37 | Texas Hotel Pair | 8,595 | 63,588 | 11,355 | 34,776 | 4,968 | 23,125 | Springing | |||
Property | 37.01 | Comfort Inn & Suites | ||||||||||
Property | 37.02 | Motel 6 | ||||||||||
Loan | 38 | Park Pineway Plaza | 1,073 | 300,000 | 2,862 | 2,606 | 4,200 | 1,000 | 10,106 | 20,787 | Springing | |
Loan | 39 | 123 Church Street | 635 | 112,000 | Springing | 39,136 | 8,508 | 3,105 | 1,194 | Springing | ||
Loan | 40 | Summerhill Office Plaza | 1,087 | Springing | 12,745 | 4,902 | 6,351 | 907 | Springing | |||
Loan | 41 | Comfort Suites Tucson | 6,234 | 15,442 | 7,721 | 2,111 | 1,055 | 96,500 | Springing | |||
Loan | 42 | Best Western Syracuse-Liverpool | 4,580 | 62,316 | 9,526 | 14,420 | 1,897 | 4,788 | 420,000 | Springing | ||
Loan | 43 | Bent Tree Apartments | 1,542 | 15,890 | 2,270 | 2,512 | 2,512 |
A-1-7
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Other | Environmental | |||||
Property | Reserves | Report | Engineering | Loan | ||
Flag | ID | Property Name | Description(26)(27)(28)(29) | Date(30)(31) | Report Date | Purpose |
Loan | 1 | Ohio Valley Plaza | Critical Tenant TI/LC Funds (Springing Monthly: Excess Cash Flow) | 03/09/2017 | 03/14/2017 | Refinance |
Loan | 2 | Pershing Square Building(19)(33) | Earnout Reserve | 03/30/2017 | 03/30/2017 | Refinance |
Loan | 3 | Crossings at Hobart(32) | Critical Tenant Funds (Monthly: Springing) | 02/07/2017 | 02/09/2017 | Refinance |
Loan | 4 | Yeshiva University Portfolio(32) | Refinance | |||
Property | 4.01 | 2495 Amsterdam Avenue | 02/07/2017 | 02/07/2017 | ||
Property | 4.02 | 215 Lexington Avenue | 02/07/2017 | 02/07/2017 | ||
Property | 4.03 | 2520 Amsterdam Avenue | 02/07/2017 | 02/07/2017 | ||
Property | 4.04 | 245 Lexington Avenue | 02/07/2017 | 02/07/2017 | ||
Property | 4.05 | 253 Lexington Avenue | 02/07/2017 | 02/07/2017 | ||
Loan | 5 | 380 Lafayette Street | Common Charge Reserve (Monthly: Springing) | 04/07/2017 | 04/06/2017 | Refinance |
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | Atlanta PIP Reserve ($2,500,000); Anchorage PIP Reserve ($2,500,000); Ground Rent Reserve ($89,582); Seasonality Reserve (Springing); PIP Reserve (Monthly Springing: Excess Cash Flow) | 01/03/2017 | 01/03/2017 | Refinance |
Property | 6.01 | Hilton Anchorage | 01/03/2017 | 01/03/2017 | ||
Property | 6.02 | Renaissance Atlanta | 01/03/2017 | 01/03/2017 | ||
Loan | 7 | EIP Logistics Portfolio(32) | Occupancy Reserve (Monthly: Springing) | Acquisition/Refinance | ||
Property | 7.01 | Mercury Paper, Inc. | 01/20/2017 | 01/19/2017 | ||
Property | 7.02 | Precision Park | 03/07/2017 | 01/19/2017 | ||
Loan | 8 | North Creek Office Complex | Outstanding TI/LC Funds (Upfront: $1,458,394); Critical Tenant TI/LC Funds (Upfront: $1,000,000; Monthly Springing: Excess Cash Flow); Rent Commencement Funds (Upfront: $277,029); Free Rent Funds (Upfront: $146,487) | 02/27/2017 | 02/27/2017 | Refinance |
Loan | 9 | Flats East Bank Phase I | Parking TIF Funds (Upfront: 250,000); FF&E Reserves (Monthly: 22,550); Seasonality Reserve Funds (Monthly: 100,000 during the months of May, June, July and August); PIP Funds (Monthly: Springing) | 02/28/2017 | 12/20/2016 | Refinance |
Loan | 10 | Google Kirkland Campus Phase II(32) | Rent Bridge Reserve (Upfront: 343,318); Major Tenant Reserve (Monthly: Springing) | 08/02/2016 | 08/02/2016 | Refinance |
Loan | 11 | Art Van Portfolio(32) | Environmental Reserve (Upfront: 82,500); Condominium Common Charge (Monthly: Springing); Art Van Prepaid Rent Funds (Monthly: Springing); Material Tenant Rollover Funds (Springing Monthly: Excess Cash Flow) | Acquisition | ||
Property | 11.01 | Warren Distribution Center | 02/06/2017 | 02/06/2017 | ||
Property | 11.02 | Comstock Park Retail | 02/06/2017 | 02/06/2017 | ||
Property | 11.03 | Grand Rapids Retail | 02/06/2017 | 02/06/2017 | ||
Property | 11.04 | Bloomfield Hills Retail | 02/06/2017 | 02/06/2017 | ||
Property | 11.05 | Mattress Distribution Center | 02/06/2017 | 02/06/2017 | ||
Loan | 12 | MVP Parking Portfolio | Refinance | |||
Property | 12.01 | White Front Garage Partners | 03/20/2017 | 03/16/2017 | ||
Property | 12.02 | St. Louis Seventh & Cerre | 03/15/2017 | 03/16/2017 | ||
Property | 12.03 | MVP Houston San Jacinto Lot | 04/21/2017 | 04/21/2017 | ||
Property | 12.04 | MVP Louisville Station Broadway | 03/16/2017 | 03/16/2017 | ||
Property | 12.05 | St. Louis Broadway Group | 03/15/2017 | 03/16/2017 | ||
Property | 12.06 | MVP Houston Preston Lot | 03/15/2017 | 03/16/2017 | ||
Property | 12.07 | MVP Indianapolis Meridian Lot | 03/15/2017 | 03/16/2017 | ||
Loan | 13 | 340 Bryant (32) | Occupancy Reserve (Monthly: Springing); Switchfly Reserve (Upfront: 500,000) | 01/26/2017 | 12/07/2016 | Acquisition |
Loan | 14 | Rearden Storage Portfolio | Refinance | |||
Property | 14.01 | Forest Central Self Storage | 03/29/2017 | 03/29/2017 | ||
Property | 14.02 | Carrollton Self Storage | 03/30/2017 | 03/30/2017 | ||
Property | 14.03 | Frame Street Self Storage | 03/29/2017 | 03/29/2017 | ||
Loan | 15 | Courtyard Marriott Shadyside | Closing Ground Rent Reserve (Upfront: 7,401; Monthly: 7,401) | 02/17/2017 | 01/06/2017 | Refinance |
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | Parking Rent Funds | 02/27/2017 | 02/27/2017 | Refinance |
Loan | 17 | Brink’s Office | Critical Tenant TI/LC Reserve (Springing Monthly: Excess Cash Flow) | 02/07/2017 | 02/07/2017 | Refinance |
Loan | 18 | Centre Place I | Key Rollover Reserve (Monthly: Springing) | 09/16/2016 | 09/14/2016 | Acquisition |
Loan | 19 | Euless Town Center | Unfunded Obligations Funds (Upfront: $51,000); Specified Tenant Rollover Funds (Monthly Springing: Excess Cash Flow); IT’Z Tenant Funds (Monthly Springing: Excess Cash Flow) | 03/06/2017 | 03/06/2017 | Refinance |
Loan | 20 | Town Park Apartments | 01/16/2017 | 01/16/2017 | Refinance | |
Loan | 21 | Baypoint Commerce Center(32) | Unfunded Obligations Funds (Upfront: $2,524,767); Material Tenant Rollover Funds (Monthly Springing: Excess Cash Flow) | 11/16/2016 | 11/15/2016 | Refinance |
Loan | 22 | Center West(32) | Unfunded Obligations Reserve (Upfront: $2,352,223); Ground Rent Reserve (Monthly: Springing); Material Tenant Rollover Reserve (Monthly Springing: Excess Cash Flow) | 10/28/2016 | 10/28/2016 | Refinance |
Loan | 23 | Persis STNL Portfolio | Acquisition/Recapitalization | |||
Property | 23.01 | Outback Steakhouse Las Vegas | 03/03/2017 | 03/03/2017 | ||
Property | 23.02 | Outback Steakhouse Sanford | 03/03/2017 | 03/03/2017 | ||
Property | 23.03 | Outback Steakhouse Naperville | 03/03/2017 | 03/03/2017 | ||
Property | 23.04 | Panda Express Camillus | 03/03/2017 | 03/03/2017 | ||
Loan | 24 | Springhill Suites Tampa(33) | PIP Funds | 03/02/2017 | 03/02/2017 | Refinance |
Loan | 25 | Hickory Corners | Toy-R-Us Space Repair Funds (Upfront: $20,000); Critical Tenant TI/LC Funds (Monthly Springing: Excess Cash Flow); Special TI/LC Funds: (Monthly: Springing) | 08/15/2016 | 08/16/2016 | Acquisition |
Loan | 26 | Gwinnett MF Portfolio | 11/7/2016; 11/7/2016; 1/30/2017 | 11/7/2016; 2/23/2017; 11/8/2016 | Recapitalization | |
Loan | 27 | Comfort Inn & Suites-Seattle | PIP Reserve (Upfront: $5,000; Monthly Springing: Excess Cash Flow) | 12/30/2016 | 12/30/2016 | Acquisition |
Loan | 28 | Highpark Corporate Center | 01/03/2017 | 01/03/2017 | Refinance | |
Loan | 29 | Oak Leaf Village Apartments | 12/16/2016 | 12/15/2016 | Refinance | |
Loan | 30 | Walgreens Portland | Critical Tenant TI/LC Funds (Monthly Springing: Excess Cash Flow) | 01/13/2017 | 01/13/2017 | Refinance |
Loan | 31 | Rite Aid Portfolio Lima OH | Refinance | |||
Property | 31.01 | Rite Aid West Robb | 12/15/2016 | 12/15/2016 | ||
Property | 31.02 | Rite Aid 506 West Market | 12/15/2016 | 12/14/2016 | ||
Loan | 32 | AAAABCO Mini Storage | Critical Tenant TI/LC Funds (Upfront: $400,000; Monthly Springing: Excess Cash Flow); Capital Project Funds (Upfront: $300,000) | 01/18/2017 | 01/17/2017 | Refinance |
Loan | 33 | Walgreens Bangor | Critical Tenant TI/LC Funds (Monthly Springing: Excess Cash Flow) | 01/12/2017 | 01/13/2017 | Refinance |
Loan | 34 | Orchid Centre | 02/01/2017 | 02/01/2017 | Refinance | |
Loan | 35 | Microtel Georgetown | Seasonality Reserve | 01/24/2017 | 01/24/2017 | Refinance |
Loan | 36 | KB St. Louis Dialysis Portfolio | Free Rent Reserve (Upfront: 19,945) | Acquisition | ||
Property | 36.01 | Fresenius St. Louis | 10/10/2016 | 10/07/2016 | ||
Property | 36.02 | DaVita St. Louis | 10/12/2016 | 10/07/2016 | ||
Loan | 37 | Texas Hotel Pair | PIP Funds (Upfront: $23,125); Future PIP Funds (Springing Monthly: Excess Cash Flow) | Refinance | ||
Property | 37.01 | Comfort Inn & Suites | 02/08/2017 | 02/08/2017 | ||
Property | 37.02 | Motel 6 | 02/08/2017 | 02/08/2017 | ||
Loan | 38 | Park Pineway Plaza | Harbor Freight Rent Abatement Funds (Upfront: $20,787); Critical Tenant TI/LC Funds (Monthly Springing: Excess Cash Flow) | 02/07/2017 | 02/07/2017 | Refinance |
Loan | 39 | 123 Church Street | Specified Tenant Rollover Funds (Monthly Springing: Excess Cash Flow) | 01/04/2017 | 02/23/2017 | Acquisition |
Loan | 40 | Summerhill Office Plaza | Specified Tenant Rollover Funds (Monthly Springing: Excess Cash Flow) | 03/10/2017 | 03/10/2017 | Refinance |
Loan | 41 | Comfort Suites Tucson | Seasonality Reserve (Upfront: 96,500; Monthly: Springing) | 04/11/2017 | 04/11/2017 | Acquisition |
Loan | 42 | Best Western Syracuse-Liverpool | PIP Funds (Upfront: $370,000); Seasonality Reserve Funds (Upfront: $50,000; Monthly: Springing); Future PIP Funds (Monthly Springing: Excess Cash Flow) | 11/01/2016 | 11/01/2016 | Refinance |
Loan | 43 | Bent Tree Apartments | 03/20/2017 | 03/16/2017 | Refinance |
A-1-8
CFCRE 2017-C8 |
ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES |
Existing | Future Debt | ||||||||
Property | Additional Debt | Permitted | |||||||
Flag | ID | Property Name | Sponsor(25) | Guarantor(25) | Previous Securitization | Amount | Existing Additional Debt Description | Type | |
Loan | 1 | Ohio Valley Plaza | E. Stanley Kroenke | E. Stanley Kroenke | LBUBS 1998-C1 | None | NAP | ||
Loan | 2 | Pershing Square Building(19)(33) | Jeffrey Fish | Jeffrey Fish | JPMCC 2013-C10 | None | Mezzanine | ||
Loan | 3 | Crossings at Hobart(32) | Schottenstein Realty LLC | Schottenstein Realty LLC | GECMC 2007-C1 | 13,942,476 | Pari Passu Debt | NAP | |
Loan | 4 | Yeshiva University Portfolio(32) | Yeshiva University | Yeshiva University | 105,000,000 | Pari Passu Debt | NAP | ||
Property | 4.01 | 2495 Amsterdam Avenue | |||||||
Property | 4.02 | 215 Lexington Avenue | |||||||
Property | 4.03 | 2520 Amsterdam Avenue | |||||||
Property | 4.04 | 245 Lexington Avenue | |||||||
Property | 4.05 | 253 Lexington Avenue | |||||||
Loan | 5 | 380 Lafayette Street | Select Equity Group, L.P. | Select Equity Group, L.P. | COMM 2007-C9 | None | NAP | ||
Loan | 6 | Atlanta and Anchorage Hotel Portfolio(32) | Columbia Sussex Corporation; CSC Holdings, LLC | Columbia Sussex Corporation; CSC Holdings, LLC | Various | 82,152,334 | Pari Passu Debt | NAP | |
Property | 6.01 | Hilton Anchorage | JPMCC 2007-CB18 | ||||||
Property | 6.02 | Renaissance Atlanta | |||||||
Loan | 7 | EIP Logistics Portfolio(32) | Bruce Levine; Donald A. Levine; Lewis Heafitz | Bruce Levine; Donald A. Levine; Lewis Heafitz | 12,000,000 | Pari Passu Debt | NAP | ||
Property | 7.01 | Mercury Paper, Inc. | |||||||
Property | 7.02 | Precision Park | |||||||
Loan | 8 | North Creek Office Complex | Zaya S. Younan | Zaya S. Younan | A10 2015-1 | None | NAP | ||
Loan | 9 | Flats East Bank Phase I | Scott A. Wolstein; Iris S. Wolstein Trust | Scott A. Wolstein; Iris S. Wolstein Trust | None | NAP | |||
Loan | 10 | Google Kirkland Campus Phase II(32) | SRM Development, LLC | Bryan P. Stone; James D. Rivard; Dee J. McGonigle III; Trevor Ashenbrener; Ryan Leong | 50,000,000 | Pari Passu Debt | NAP | ||
Loan | 11 | Art Van Portfolio(32) | LCN Capital Partners, L.P. | LCN North American Fund II REIT | 48,250,000 | Pari Passu Debt | NAP | ||
Property | 11.01 | Warren Distribution Center | |||||||
Property | 11.02 | Comstock Park Retail | |||||||
Property | 11.03 | Grand Rapids Retail | |||||||
Property | 11.04 | Bloomfield Hills Retail | |||||||
Property | 11.05 | Mattress Distribution Center | |||||||
Loan | 12 | MVP Parking Portfolio | MVP REIT, Inc.; MVP REIT II, Inc. | MVP REIT, Inc.; MVP REIT II, Inc. | None | NAP | |||
Property | 12.01 | White Front Garage Partners | |||||||
Property | 12.02 | St. Louis Seventh & Cerre | |||||||
Property | 12.03 | MVP Houston San Jacinto Lot | |||||||
Property | 12.04 | MVP Louisville Station Broadway | |||||||
Property | 12.05 | St. Louis Broadway Group | |||||||
Property | 12.06 | MVP Houston Preston Lot | |||||||
Property | 12.07 | MVP Indianapolis Meridian Lot | |||||||
Loan | 13 | 340 Bryant (32) | James M. Pollock | James M. Pollock | 14,700,000 | Pari Passu Debt | NAP | ||
Loan | 14 | Rearden Storage Portfolio | Robert O’Neal Gray; Santa Fe Realty Corporation | Robert O’Neal Gray; Santa Fe Realty Corporation | CFCRE 2011-C1 | None | NAP | ||
Property | 14.01 | Forest Central Self Storage | |||||||
Property | 14.02 | Carrollton Self Storage | |||||||
Property | 14.03 | Frame Street Self Storage | |||||||
Loan | 15 | Courtyard Marriott Shadyside | Carey Watermark Investors Inc. | Carey Watermark Investors, Incorporated | None | NAP | |||
Loan | 16 | Holiday Inn Express Nashville - Downtown(32) | James M. Lippman; Birchmont Capital Partners I, L.P. | James M. Lippman; Birchmont Capital Partners I, L.P. | 56,337,515 | Pari Passu Debt | NAP | ||
Loan | 17 | Brink’s Office | M-Related, LLC | M-Related, LLC | WBCMT 2007-C34 | None | NAP | ||
Loan | 18 | Centre Place I | Richard V. Bowling, Jr. | Richard V. Bowling, Jr. | None | NAP | |||
Loan | 19 | Euless Town Center | Bijan Halavi; Farzad Sean Rahbar; Bob Halavi | Bijan Halavi; Farzad Sean Rahbar; Bob Halavi | None | NAP | |||
Loan | 20 | Town Park Apartments | Gul S. Panjwani; Ajay K. Gupta | Gul S. Panjwani; Ajay K. Gupta | LBUBS 2007-C6 | None | NAP | ||
Loan | 21 | Baypoint Commerce Center(32) | Jeffrey J. Feil | Jeffrey J. Feil | 30,000,000 | Pari Passu Debt | NAP | ||
Loan | 22 | Center West(32) | Kambiz Hekmat | Kambiz Hekmat | 70,000,000 | Pari Passu Debt | NAP | ||
Loan | 23 | Persis STNL Portfolio | Persis Corporation | Persis Corporation | Various | None | NAP | ||
Property | 23.01 | Outback Steakhouse Las Vegas | BMLDB 2012-OSI | ||||||
Property | 23.02 | Outback Steakhouse Sanford | BMLDB 2012-OSI | ||||||
Property | 23.03 | Outback Steakhouse Naperville | BMLDB 2012-OSI | ||||||
Property | 23.04 | Panda Express Camillus | |||||||
Loan | 24 | Springhill Suites Tampa(33) | Dilip Kanji | Dilip Kanji | None | Mezzanine | |||
Loan | 25 | Hickory Corners | Gary J. Dragul | Gary J. Dragul | GSMS 2013-GC14 | None | NAP | ||
Loan | 26 | Gwinnett MF Portfolio | Andrew Kelly | Andrew Kelly | None | NAP | |||
Loan | 27 | Comfort Inn & Suites-Seattle | Xiaonan Song; Hao Wu | Xiaonan Song; Hao Wu | None | NAP | |||
Loan | 28 | Highpark Corporate Center | David D. Colburn | David D. Colburn | MSC 2007-IQ14 | None | NAP | ||
Loan | 29 | Oak Leaf Village Apartments | Thu Xuan Hoang | Thu Xuan Hoang | WMCMS 2015-C1A | None | NAP | ||
Loan | 30 | Walgreens Portland | Clearview Investments, Ltd. | Clearview Investments, Ltd. | None | NAP | |||
Loan | 31 | Rite Aid Portfolio Lima OH | Om Singhal | Om Singhal | Various | None | NAP | ||
Property | 31.01 | Rite Aid West Robb | GECMC 2007-C1 | ||||||
Property | 31.02 | Rite Aid 506 West Market | WBCMT 2007-C33 | ||||||
Loan | 32 | AAAABCO Mini Storage | Samuel Ventura | Samuel Ventura | None | NAP | |||
Loan | 33 | Walgreens Bangor | Clearview Investments, Ltd. | Clearview Investments, Ltd. | None | NAP | |||
Loan | 34 | Orchid Centre | Avram Glazer | Avram Glazer | LBUBS 2004-C4 | None | NAP | ||
Loan | 35 | Microtel Georgetown | Robert Chadwick Moore | Robert Chadwick Moore | None | NAP | |||
Loan | 36 | KB St. Louis Dialysis Portfolio | Louis J. Rogers | Louis J. Rogers | None | NAP | |||
Property | 36.01 | Fresenius St. Louis | |||||||
Property | 36.02 | DaVita St. Louis | |||||||
Loan | 37 | Texas Hotel Pair | Jatin Bhakta, Anand Bhakta; Jagdish Bhakta; Dinesh G. Bhakta | Jatin Bhakta, Anand Bhakta; Jagdish Bhakta; Dinesh G. Bhakta | None | NAP | |||
Property | 37.01 | Comfort Inn & Suites | |||||||
Property | 37.02 | Motel 6 | |||||||
Loan | 38 | Park Pineway Plaza | Narinder Parasher; Anju Parasher; NAP Family Revocable Trust | Narinder Parasher; Anju Parasher; NAP Family Revocable Trust | MSC 2007-IQ14 | None | NAP | ||
Loan | 39 | 123 Church Street | Aryeh Yasgur; Jonathan Marcus | Aryeh Yasgur; Jonathan Marcus | None | NAP | |||
Loan | 40 | Summerhill Office Plaza | Russell Armstrong | Russell Armstrong | None | NAP | |||
Loan | 41 | Comfort Suites Tucson | Robert Burton | Robert Burton | None | NAP | |||
Loan | 42 | Best Western Syracuse-Liverpool | Satish Patel; Damyanti Patel | Satish Patel; Damyanti Patel | None | NAP | |||
Loan | 43 | Bent Tree Apartments | Harold J. Granger; Donald G. Johnson | Harold J. Granger; Donald G. Johnson | None | NAP |
A-1-9
CFCRE 2017-C8 | |
FOOTNOTES TO ANNEX A-1 | |
(1) | CCRE—Cantor Commercial Real Estate Lending, L.P. or one of its affiliates; UBSAG – UBS AG; RMF – Rialto Mortgage Finance |
(2) | Loan No. 3 – Crossings at Hobart – The Original Balance ($) of $43.0 million and Cut-off Date Balance ($) of approximately $42.8 million represents the controlling Note A-1 and non-controlling Note A-2-B of a whole loan with an original balance of $57.0 million, which is evidenced by three pari passu notes (the “Crossings at Hobart Whole Loan”). The related pari passu companion loan has an aggregate original principal balance of $14.0 million and is evidenced by one non-controlling note (Note A-2-A). Note A-2-A is expected to be contributed to a future securitization. |
Loan No. 4 – Yeshiva University Portfolio – The Original Balance ($) and Cut-off Date Balance ($) of $35.0 million represents the non-controlling Note A-4 of a $140.0 million whole loan evidenced by four pari passu notes (“Yeshiva University Portfolio Whole Loan”). The related pari passu companion loans have an aggregate original principal balance of $105.0 million and are evidence by three notes including controlling Note A-1, non-controlling Note A-2 and non-controlling Note A-3. Controlling Note A-1 and non-controlling Note A-2 are held by Argentic Real Estate Finance LLC and are expected to be contributed to one or more future mortgage trusts. Non-controlling Note A-3 is held by Citi Real Estate Funding Inc. and is expected to be contributed to a future mortgage trust | |
Loan No. 6 – Atlanta and Anchorage Hotel Portfolio – The Original Balance ($) of $32.5 million and Cut-off Date Balance ($) of approximately $32.4 million represents the controlling Note A-1-A-1 of a whole loan with an original balance of $115.0 million which is evidenced by six pari passu notes (the “Atlanta and Anchorage Hotel Portfolio Whole Loan”). The related pari passu companion loans have an aggregate original principal balance of $82.5 million and are evidenced by five non-controlling notes (Note A-1-A-2, Note A-1-B, Note A-2, Note A-3-A, and Note A-3-B). Note A-2 was contributed to the CGCMT 2017-P7 securitization, and Note A-1-A-2, Note A-1-B, Note A-3-A, and Note A-3-B are expected to be contributed to future securitizations. | |
Loan No. 7 – EIP Logistics Portfolio – The Original Balance ($) and Cut-off Date Balance ($) of $29.0 million represents the controlling Note A-1 of a $41.0 million whole loan evidenced by two pari passu notes (the “EIP Logistics Portfolio Whole Loan”). The related pari passu companion loan has an original principal balance of $12.0 million and is evidenced by the non-controlling Note A-2 which is held by CCRE and is expected to be contributed to a future mortgage trust. | |
Loan No. 10 – Google Kirkland Campus Phase II – The Original Balance ($) and Cut-off Date Balance ($) of $22.5 million represents the non-controlling Note A-2 of a $72.5 million whole loan evidenced by two pari passu notes (the “Google Kirkland Campus Phase II Whole Loan”). The related pari passu companion loan has an aggregate original principal balance of $50.0 million and is evidenced by the controlling Note A-1 which was contributed to the CFCRE 2016-C7 mortgage trust. | |
Loan No. 11 – Art Van Portfolio – The Original Balance ($) and Cut-off Date Balance ($) of $20.5 million represents two non-controlling notes (Note A-2 and Note A-3) of a $68.75 million whole loan evidenced by five pari passu notes (the “Art Van Portfolio Whole Loan”). The related pari passu companion loans have an aggregate original principal balance of $48.25 million and are evidenced by two non-controlling notes (Note A-4 and Note A-5) and one controlling note (Note A-1). Note A-4 and Note A-5 were contributed to the WFCM 2017-RB1 mortgage trust. Note A-1 is expected to be contributed to a future securitization. |
A-1-10
Loan No. 13 – 340 Bryant – The Original Balance ($) and Cut-off Date Balance ($) of $16.0 million represents the controlling Note A-1 of a $30.7 million whole loan evidenced by two pari passu notes (the “340 Bryant Whole Loan”). The related pari passu companion loan has an aggregate original principal balance of $14.7 million and is evidenced by the non-controlling Note A-2, which was contributed to the WFCM 2017-RB1 mortgage trust. | |
Loan No. 16 – Holiday Inn Express Nashville - Downtown – The Original Balance ($) of $15.45 million and Cut-off Date Balance ($) of $15.26 million represents non-controlling Note A-3 of a $72.5 million whole loan evidenced by three pari passu notes. The related pari passu companion loans have an aggregate original principal balance of $57.05 million and are evidenced by one controlling note (Note A-1) and one non-controlling note (Note A-2). Note A-1 was contributed to the CFCRE 2016-C6 mortgage trust and Note A-2 was contributed to the SGCMS 2016-C5 mortgage trust. | |
Loan No. 21 – Baypoint Commerce Center – The Original Balance ($) and Cut-off Date Balance ($) of $10.0 million represents non-controlling Note A-1 of a $40.0 million whole loan evidenced by four pari passu notes. The related pari passu companion loans have an aggregate original principal balance of $30.0 million and are evidenced by one controlling note (Note A-2) and two non-controlling notes (Note A-3 and Note A-4). Note A-2, Note A-3, and Note A-4 are expected to be contributed to future securitizations. | |
Loan No. 22 – Center West – The Original Balance ($) and Cut-off Date Balance ($) of $10.0 million represents non-controlling Note A-4 of a $80.0 million whole loan evidenced by four pari passu notes. The related pari passu companion loans have an aggregate original principal balance of $70.0 million and are evidenced by two non-controlling notes (Note A-1 and Note A-3) and one controlling note (Note A-2). Note A-1 was contributed to the BBCMS 2017-C1 mortgage trust. Note A-2 and Note A-3 were contributed to the WFCM 2017-RB1 mortgage trust. | |
(3) | With respect to any Mortgaged Property securing a multi-property Mortgage Loan, the amounts listed under the headings “Original Balance ($)” and “Cut-off Date Balance ($)” reflect the Allocated Loan Amount related to such Mortgaged Property. |
(4) | Loan No. 2 – Pershing Square Building – The borrower owns a (i) fee simple interest in 114,999 sq. ft. (60.0% of gross rents) of office space, (ii) a fee simple interest in 23,413 sq. ft. of ground floor and below-grade retail space and (iii) a fee simple interest in 14,969 sq. ft. (40.0%) of rooftop open-air restaurant space. |
Loan No. 9 – Flats East Bank Phase I – The borrower owns a (i) fee simple interest in a 150 key hotel (94,904 sq. ft., 74.1% of NRA, 83.2% of U/W Revenue), (ii) fee simple interests in 33,166 sq. ft. (25.9% of NRA, 10.5% of U/W Revenue) of commercial and retail space and (iii) a fee simple interest in 174-space (6.3% of U/W Revenue) surface parking lot. | |
Loan No. 15 – Courtyard Marriott Shadyside – The borrower owns a (i) fee simple interest in a 132 key select service hotel and (ii) a leasehold interest in an adjacent outside parking facility. | |
Loan No. 18 – Centre Place I – The borrower owns a (i) fee simple interest in 13,157 sq. ft. of office space and (ii) a fee simple interest in 4,550 sq. ft. of ground floor commercial space. | |
Loan No. 32 – AAAABCO Mini Storage – The borrower owns a fee simple interest in (i) 106,460 sq. ft. of self storage and (ii) 34,138 sq. ft. of retail space. |
A-1-11
Loan No. 39 – 123 Church Street – 123 Church Street – The borrower owns one 4-story building containing (i) a fee simple interest in 30,000 sq. ft. of office space on floors 2, 3 and 4 and (ii) a fee simple interest in 8,874 sq. ft. of ground floor retail space. | |
(5) | Loan No. 7 – EIP Logistics Portfolio – Precision Park Mortgaged Property - As of 2008, the Precision Park Mortgaged Property is subject to land use restrictions. In 2015, the Rhode Island Department of Environmental Management (“RIDEM”) inspected the Precision Park Mortgaged Property and noted compliance with the land use restriction, which prohibits (i) residential use of the eastern and western portions of the Precision Park Mortgaged Property and (ii) disturbance of soils without written permission from RIDEM. |
Loan No. 9 – Flats East Bank Phase I – The related Phase I environmental report dated February 28, 2017 identified prior remediation activities related to a past industrial use at the Mortgaged Property. The Ohio Environmental Protection Agency (the “Ohio EPA”) granted closure on December 20, 2010 in connection with a recorded deed restriction that prohibits residential use or use of groundwater at the Mortgaged Property and requires that the vapor migration system remain operable. The Phase I recommended continued compliance with the Ohio EPA conditions and restrictions. The current use of the Mortgaged Property does not violate the deed restriction. | |
Loan No. 13 – 340 Bryant – A portion of the Mortgaged Property (the “120 Area”) is subject to a height boundary of 120 feet above the San Francisco City Datum (a height measured above San Francisco’s watermark) and the remaining portion is subject to a height boundary of 100 feet two inches above the San Francisco City Datum. Following recent building improvements, a portion of a staircase, walkway cover and elevator penthouse (located in the 120 Area) are approximately 1 foot above the permitted height. The title insurance policy for the Mortgaged Property notes certain minor encroachments (including the encroachments in the 120 Area described above). However, the title insurance policy includes affirmative coverage against any loss or damage status by reason of any existing violations of the height restrictions. The Mortgage Loan documents also provide for recourse to the borrower and guarantor for any losses to the lender incurred as a result of violations of the height restrictions. | |
(6) | Loan No. 4 – Yeshiva University Portfolio – The Yeshiva University Portfolio has an ARD of May 6, 2027 and a stated maturity date of May 6, 2032. Prior to the ARD, the Yeshiva University Portfolio Whole Loan accrues interest at a fixed rate of 4.3240%. From and after the ARD, the Yeshiva University Portfolio Whole Loan will accrue interest at a fixed rate equal to the greater of (i) 8.3240% and (ii) the then 10-year U.S. Treasury yield on the ARD plus 4.0000%. |
(7) | The Administrative Fee Rate includes the respective per annum rates applicable to the calculation of the servicing fee, any sub-servicing fee, trustee/certificate administrator fee, asset representations reviewer fee, operating advisor fee and CREFC® license fee with respect to each Mortgage Loan. For purposes of this Annex A-1, the definition of Administrative Fee Rate as it relates to any Non-Serviced Mortgage Loan includes the related Pari Passu Loan Primary Servicing Fee Rate which includes the “primary servicing fee rate” (as defined or set forth in the applicable pooling and servicing agreement) and any other related servicing fee rate (other than those payable to the applicable special servicer) applicable to such Non-Serviced Mortgage Loan that constitutes a portion of the “servicing fee rate” applicable to the other master servicer under the applicable other pooling and servicing agreement. |
(8) | Annual Debt Service, Monthly Debt Service, Underwritten NOI DSCR and Underwritten NCF DSCR for Mortgage Loans (i) with partial interest only periods are shown based on the monthly debt service payment immediately following the expiration of the interest only period and (ii) that are interest only until the related maturity date are shown based on the interest only payments during the 12-month period following the Cut-off Date (or, in the case of Monthly Debt Service, the average of such interest only payments). |
A-1-12
(9) | “Hard” generally means each tenant is required to transfer its rent directly to the lender-controlled lockbox account. However, with respect to hospitality properties, “Hard” means all (or most) credit card receipts are deposited directly into the lockbox by the card processing company and all over-the-counter cash (or in some cases, over a certain dollar amount) and checks and equivalents are required to be deposited by the property manager or borrower into the lockbox. “Soft” means the borrower has established a lockbox account that will be under lender control and the borrower or property manager must collect rents from the tenants and then deposit those rents into such lockbox account. “Springing Soft” means that upon the occurrence of a trigger event (as specified in the related Mortgage Loan documents), the borrower is required to establish a lender controlled lockbox and the borrower and/or the property manager are required to deposit all rents collected from the tenants into such lockbox account. “Springing Hard” means that upon a trigger event (as specified in the related Mortgage Loan documents), the borrower is required to establish a lender controlled lockbox account and to direct each tenant to deposit its rents directly to the lender-controlled lockbox. “Soft Springing Hard” means that prior to the securitization closing date, a soft lockbox was established for such Mortgage Loan and upon a trigger event (as specified in the related Mortgage Loan documents), the borrower is required to direct each tenant to deposit its rents directly into a lender-controlled lockbox. |
(10) | “In Place” means that amounts in the lender controlled lockbox account are applied to pay debt service, reserves and any other payment amounts due under (and as specified in) the related Mortgage Loan documents, prior to the disbursement of any excess cash either to the related borrower or to a lender controlled acount to be held as additional collateral for the Mortgage Loan. “Springing” means that upon the occurrence of a trigger event (as specified in the related Mortgage Loan documents), amounts in the lockbox account (which may have been put in place in connection with the trigger) will be applied as described above in the definition of “In Place” cash management (as described above). Springing cash management will continue until all trigger events are cured (to the extent set forth in the related Mortgage Loan documents (including that under some circumstance a cure is not permitted under the related Mortgage Loan documents)). |
(11) | Loan No. 3 – Crossings at Hobart – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loan in the aggregate. |
Loan No. 4 – Yeshiva University Portfolio – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loan in the aggregate. | |
Loan No. 6 – Atlanta and Anchorage Hotel Portfolio – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loan in the aggregate. | |
Loan No. 7 EIP Logistics Portfolio – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. |
A-1-13
Loan No. 10 – Google Kirkland Campus Phase II – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. | |
Loan No. 11 – Art Van Portfolio - The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. | |
Loan No. 13 – 340 Bryant – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate | |
Loan No. 16 – Holiday Inn Express Nashville – Downtown - The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. | |
Loan No. 21 – Baypoint Commerce Center - The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. | |
Loan No. 22 – Center West - The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Pads/Beds) ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate. | |
(12) | The grace periods noted under “Grace Period” reflect the number of days of grace before a payment default is an event of default. Certain jurisdictions impose a statutorily longer grace period. Certain of the Mortgage Loans may additionally be subject to grace periods with respect to the occurrence of an event of default (other than a payment default) and/or commencement of late charges which are not addressed in Annex A-1 to this preliminary prospectus. |
(13) | Loan No. 16 – Holiday Inn Express Nashville - Downtown – Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, and Appraised Value ($) with respect to the loan is based on the value of $118.0 million, which assumes the “As Complete” appraised value as of February 27, 2018. The franchisee is required to complete a property improvement plan (“PIP”) in accordance with the franchise agreement. At loan origination, the borrower delivered a $5,309,000 letter of credit assigned to the lender until completion of the franchisor-required PIP. In addition, the guarantors delivered a guaranty of completion for the PIP work ensuring the completion and payment of the work are completed in accordance with the terms and provisions of the loan agreement. The Cut-off Date LTV Ratio based on the $113.0 million “As Is” appraised value is 63.4%. |
Loan No. 32 – AAAABCO Mini Storage – The Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD and Appraised Value ($) with respect to the mortgage loan is based on the value of $13.03 million, which assumes the “As Complete” value as of March 11, 2017. The Cut-off Date LTV Ratio is based on the $12.72 million “As Is” value is 50.2%. |
A-1-14
Loan No. 42 – Best Western Syracuse – Liverpool - Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, and Appraised Value ($) with respect to the loan is based on the value of $5.1 million, which assumes the “As Complete” appraised value as of November 1, 2017. The franchisee is required to complete a property improvement plan in accordance with the franchise agreement. As such, lender has reserved 125.0% of the estimated property improvement plan cost. The Cut-off Date LTV Ratio based on the $4.7 million “As Is” appraised value is 63.7%. | |
(14) | Prepayment Provisions are shown from the respective Mortgage Loan First Payment Date. |
“L(x)” means lock-out for x payments. | |
“D(x)” means may be defeased for x payments. | |
“YM1(x)” means may be prepaid for x payments with payment of the greater of a yield maintenance charge and 1% of the amount prepaid. | |
“DorYM1 (x)” means may be prepaid for x payments with either defeasance or a yield maintenance charge or 1% of the amount prepaid. | |
“O(x)” means freely prepayable for x payments, including the maturity date or anticipated repayment date. | |
Certain of the Mortgage Loans permit the release of a portion of a Mortgaged Property (or an individual Mortgaged Property, in connection with a portfolio mortgage loan) under various circumstances, as described in this preliminary prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in this preliminary prospectus. | |
(15) | Loan No. 3 – Crossings at Hobart – The lockout period is expected to be at least 26 payment dates beginning with and including the first payment date of April 6, 2017. Prepayment of the full $57.0 million Crossings at Hobart Whole Loan is permitted on or after the date that is earlier to occur of (i) April 6, 2020 and (ii) two years after the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 26 payments is based on the expected CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. |
Loan No. 4 – Yeshiva University Portfolio – The lockout period will be at least 25 payment dates beginning with and including the first payment date of June 6, 2017. Defeasance in whole or in part is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) April 21, 2021. The assumed lockout is based on the expected CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. | |
Loan No. 6 – Atlanta and Anchorage Hotel Portfolio – The lockout period for defeasance is expected to be at least 27 payment dates beginning with and including the first payment date of April 6, 2017. Defeasance of the full $115.0 million Atlanta Anchorage Hotel Portfolio Whole Loan is permitted on or after the date that is two years after the closing date of the securitization that includes the last pari passu note to be securitized (the “Defeasance Lockout Expiration Date”). To the extent the Defeasance Lockout Expiration Date has not occurred prior to April 6, 2020, the borrower shall have the right (until such time as the Defeasance Lockout Expiration Date has occurred) to prepay the mortgage loan in whole (but not in part) accompanied by a yield maintenance premium. The assumed lockout period of 27 payments is based on the expected CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. |
A-1-15
Loan No. 7 – EIP Logistics Portfolio – The lockout period will be at least 26 payment dates beginning with and including the first payment date of May 6, 2017. Defeasance is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) May 6, 2020. The assumed lockout period of 26 payments is based on the CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. | |
Loan No. 11 – Art Van Portfolio – The lockout period will be at least 27 payment dates beginning with and including the first payment date of April 6, 2017. Prepayment of the full $68.75 million Art Van Portfolio Loan combination is permitted on or after the date that is earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized, and (ii) April 6, 2020. For the purposes of this prospectus supplement, the assumed lockout period of 27 months is based on the expected CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. | |
Loan No. 16 – Holiday Inn Express Nashville - Downtown – The lockout period for defeasance will be at least 35 payment dates beginning with and including the first payment date of August 1, 2016. Prepayment of the full $72.5 million Holiday Inn Express Nashville – Downtown loan combination is permitted on or after the date that is the earlier to occur of (i) two years after the CFCRE 2017-C8 securitization closing date, and (ii) August 1, 2019. The assumed lockout period of 35 payments is based on the expected CFCRE 2017-C8 securitization closing date in June 2017. The actual lockout period may be longer. | |
Loan No. 21 – Baypoint Commerce Center – The lockout period will be at least 26 payment dates beginning with and including the first payment date of May 6, 2017. Prepayment of the full $40.0 million Baypoint Commerce Center loan combination is permitted on or after the date that is earlier to occur of (i) 36 months after the first payment date of the entire loan, and (ii) two years after the closing date of the securitization that includes the last pari passu note to be securitized. | |
Loan No. 22 – Center West – The lockout period will be at least 24 payment dates beginning with and including the first payment date of January 6, 2017. Prepayment of the full $80.0 million Center West loan combination is permitted on or after the 24 months after the first payment date of the entire loan. | |
(16) | Loan No. 2 – Pershing Square Building – The borrower has the right, subject to the conditions in the Mortgage Loan documents, to subject the Mortgaged Property to a condominium regime consisting of up to four units, including a unit comprised of 10,415 sq. ft. basement space (the “Basement Unit”) and another unit comprised of 12,998 sq. ft. of the ground floor (the “Ground Floor Units”). At any time after the permitted release date, the borrower may obtain the release of the Basement Unit and/or the Ground Floor Unit provided, among other things, (i) a defeased amount equal to the greater of (a) 85.0% of the net sale proceeds from the sale of such release parcel and (b) 125.0% of the allocated loan amount of the property is paid, (ii) the borrower pays the applicable yield maintenance premium, (iii) the LTV ratio of the remaining Property is no greater than 58.67% and (iv) the DSCR of the remaining Property is no less than 1.60x and (v) the debt yield is no less than 10.0%. |
Loan No. 4 – Yeshiva University Portfolio – At any time after the expiration of the lockout period, on or after April 21, 2021, the borrower may obtain the release of one or both of the 2495 Amsterdam Avenue Mortgaged Property and the 2520 Amsterdam Avenue Mortgaged Property (the “Amsterdam Avenue Properties”) in connection with a refinancing or a bona fide third party sale subject to the satisfaction of certain conditions, including (i) the borrower partially defeases the Yeshiva University Portfolio Whole Loan in an amount equal to 125.0% of the allocated loan amount of the applicable Amsterdam Avenue Property, (ii) after giving effect to such release, the net operating income debt yield is no less than the greater of (x) the debt yield immediately preceding such release and (y) 10.96% and (iii) the LTV of the remainging Mortgaged Properties is no greater than 125.0%. |
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Loan No. 9 – Flats East Bank Phase I - At any time after the expiration of the lockout period, the borrower may obtain the release of the Parking Component, provided, among other things, (i) the borrowers deliver defeasance collateral in an amount equal to $4,080,000, which is 120.0% of the Allocated Loan Amount of the Parking Component and (ii) after such release, (a) the DSCR is no less than the greater of (1) DSCR immediately preceding such release and (2) the DSCR at loan origination (1.43x), (b) the debt yield is no less than the greater of (1) the debt yield immediately preceding such release and (2) the debt yield at loan origination (10.2%), and (c) the loan to value ratio is no greater than the lesser of (1) the LTV ratio immediately preceding such release and (2) the LTV ratio at loan origination (65.7%). | |
Loan No. 11 – Art Van Portfolio – The sponsor may obtain a release of any of the Art Van Properties except the Warren Distribution Center property, upon prepayment by defeasance of a portion of the Art Van Portfolio Loan equal to the greater of 115.0% of the allocated loan amount or the amount necessary to maintain a DSCR and debt yield that is no lower than (i) the DSCR and debt yield at closing, or (ii) the DSCR and debt yield immediately prior to the release based on the underwritten net cash flow, as well as an LTV that is no greater than (iii) the lesser of the LTV at origination and the LTV as of the date immediately prior to the release, (iv) gives at least 30 but no more than 90 days’ notice, and (v) rating agency confirmation and (vi) Officer’s certificate. | |
Loan No. 12- MVP Parking Portfolio – At any time after the permitted release date, the borrowers may obtain the relase of any individual Mortgaged Property, provided, among other things, (i) the borrowers deliver a defeased amount equal to the greater of (a) 100.0% of net sales procees received for the Mortgaged Property beign released and (b) 125.0% of the allocated loan amount of the Mortgaged Property being released, (ii) the LTV of the remaining Mortgaged Properties is no greater than the lesser of (a) the LTV immediately preceding such release and (b) the LTV ratio at loan origination (55.2%) and (iii) after such release, the DSCR of the remaining Mortgaged Properties is no less than the greater of (a) the DSCR immediately preceding such release and (b) the DSCR at loan origination (1.90x). | |
Loan No. 14 – Rearden Storage Portfolio – At any time after the release date and prior to the open prepayment date, the borrower may obtain the release of any property owned by it upon a bona fide third-party sale of such property provided, (i) the sale is to a third party not an affiliate of any borrower or guarantor, (ii) a defeased amount equal to 125.0% of the allocated loan amount of the Mortgaged Property is paid, (iii) no event of default is occurring or continuing, (iv) DSCR is no less than the greater of (a) the DSCR immediately preceding such release or (b) 1.50x and (v) the LTV is no greater that the lesser of (a) the LTV immediately preceding such release or (b) 54.9%. | |
Loan No. 23 – Persis STNL Portfolio – At any time after the permitted release date, the borrower may obtain the release of an individual Mortgaged Property provided, among other things, after giving effect to the release, (i) the LTV ratio is required to be no greater than the lesser of (a) the LTV ratio immediately preceding the release and (b) 57.1%, (ii) the DSCR is required to be no less than the greater of (a) the DSCR immediately preceding the release and (b) 1.40x, (iii) the debt yield shall be no less than the greater of (a) the debt yield immediately preceding the release and (b) 9.18%, (iv) the borrower must pay the applicable release amount for the Mortgaged Property equal to the greater of (a) $1,095,600 with respect to the Panda Express Camillus Mortgaged Property, (b) $3,063,600 with respect to the Outback Steakhouse Naperville Mortgaged Property, (c) $3,286,800 with respect to the Outback Steakhouse Sanford Mortgaged Property and (d) $4,314,000 with respect to the Outback Steakhouse Las Vegas Mortgaged Property. | |
Loan No. 36 – KB St. Louis Dialysis Portfolio – At any time after the permitted release date, the borrower may obtain the release of an individual property provided, among other things, (i) the amount of the outstanding principal balance of the loan to be defeased is required to be equal or exceed the greater of (a) 125.0% of the allocated loan amount for the applicable individual property and (b) the applicable net |
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sales proceeds, (ii) no event of default has occurred and is continuing, (iii) the DSCR for the remaining properties is not less than the greater of (a) 1.25x and (b) the DSCR immediately prior to the release, (iv) the LTV ratio for the remaining properties is less than or equal to 70.0%. The allocated loan amount is $3,427,250 with respect to the Fresenius St. Louis Mortgaged Property and $1,790,750 with respect to the DaVita St. Louis Mortgaged Property | |
(17) | Loan No. 15 – Courtyard Marriott Shadyside – The borrower owns a (i) fee simple interest in a 132 key select service hotel and (ii) a leasehold interest in an adjacent parking lot. The fee estate in the Mortgaged Property is owned by the borrower and leased to a wholly-owned operating lessee. The operating lessee is not an obligor under the Courtyard Marriott Shadyside Loan, but has collaterally assigned all rents and assets to lender pursuant to a separate security agreement and is a party to the DACA and CMA with respect to the application of cash flow. The operating lease is subordinate to the Courtyard Marriott Shadyside Loan and in the event of a foreclosure, the lender has the right to dissolve the operating lease |
Loan No. 23 – Persis STNL Portfolio – Panda Express Camillus Property – The borrower owns the fee simple interest in the Panda Express Camillus Property but the improvements are owned by the tenant. The tenant signed a 20-year absolute NNN lease with no early termination options. The ground lease expires on December 31, 2035 with five, 5-year renewal options. | |
(18) | The following Mortgaged Properties consist, in whole or in part, of the respective borrower’s interest in one or more ground leases, space leases, air rights leases or other similar leasehold interests: |
Loan No. 6 – Atlanta and Anchorage Hotel Portfolio – The Renaissance Atlanta Mortgaged Property is subject to a 90-year ground lease with the City of Atlanta, which expires on June 28, 2078, with no renewal options remaining. The annual fixed ground rent is $145,249. In addition, the ground lease requires the related borrower to pay to the ground lessor, as additional rent, on a quarterly basis one and one-half percent (1.5%) of the gross annual room sales from the Mortgaged Property. | |
Loan No. 15 – Courtyard Marriott Shadyside – The borrower owns a leasehold interest in an adjacent outside parking facility. The fee estate in the Mortgaged Property is owned by the borrower and leased to a wholly-owned operating lessee. The operating lessee is not an obligor under the loan, but has collaterally assigned all rents and assets to lender pursuant to a separate security agreement and is a party to the DACA and CMA with respect to the application of cash flow. The operating lease is subordinate to the Courtyard Marriot Shadyside Loan and in the event of a foreclosure, the lender has the right to dissolve the operating lease. | |
Loan No. 16 - Holiday Inn Express Nashville – Downtown - The related mortgage creates a first lien on the fee interest in the primary portion of the Mortgaged Property containing the related hotel and on a leasehold interest of the borrower in an adjoining parking lot parcel, which is ground leased from Sudekum, L.P. and contains 66 parking spaces. The original ground lease commenced on January 1, 2007 and includes 21, one-year options, extending the ground lease expiration date through December 31, 2028. Annual ground rent is $112,183 with annual 5.0% increases. The parking spaces located on the parcel subject to the ground lease are not required compliance with zoning requirements. | |
Loan No. 23 – Persis STNL Portfolio – Panda Express Camillus Mortgaged Property – The borrower owns the fee simple interest in the Panda Express Mortgaged Camillus Property but the improvements are owned by the tenant. The tenant signed a 20-year absolute NNN lease with no early termination options. The ground lease expires on December 31, 2035 with five, 5-year renewal options. | |
Loan No. 22 – Center West – The Center West Mortgaged Property is subject to a ground lease with an expiration date of December 23, 2085. |
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(19) | Loan No. 2 – Pershing Square – Various tenants at the Pershing Square Building Mortgaged Property are affiliated with the borrower sponsor. The borrower affiliated tenants occupy 45,518 sq. ft. (29.7% of NRA) and account for approximately 44.4% of underwritten base rent. |
Loan No. 4 – Yeshiva University Portfolio – The Yeshiva University Portfolio Properties are 100.0% occupied by Yeshiva University, which is the sponsor of the borrower and guarantor of the leases. | |
Loan No. 5 – 380 Lafayette Street – Select Equity, the sole tenant, is an affiliate of the borrower, sponsor and guarantor and currently leases 45,678 sq. ft. (100% of NRA) and account for 100.0% of the underwritten base rent. | |
(20) | Loan No. 8 – North Creek Office Complex – The 2nd Largest Tenant, Firstsource Group USA, Inc. leases 60,874 sq. ft. expiring on July 31, 2020 and 3,500 sq. ft. on a month-to-month basis. |
Loan No. 10 – Google Kirkland Campus Phase II – In March 2016, Google executed a triple-net lease, which, with respect to 125,520 sq. ft., expires on November 30, 2027 and with respect to 55,324 sq. ft. expires on January 31, 2029. | |
(21) | The lease expiration dates shown are based on full lease terms. However, in certain cases, a tenant may have the option to terminate its lease or abate rent prior to the stated lease expiration date for no reason after a specified period of time and/or upon notice to the landlord or upon the occurrence of certain contingencies including, without limitation, if landlord violates the lease or fails to provide utilities or certain essential services for a specified period or allows certain restricted uses, upon interference with tenant’s use of access or parking, upon casualty or condemnation, for zoning violations, if certain anchor or key tenants (including at an adjacent property) or a certain number of tenants go dark or cease operations, if a certain percentage of the net rentable area at the property is not occupied, if the tenant fails to meet sales targets or business objectives, or, in the case of a government tenant, for lack of appropriations or other reasons. In addition, in some instances, a tenant may have the right to assign its lease and be released from its obligations under the subject lease. Furthermore, some tenants may have the option to downsize their rented space without terminating the lease completely. In addition to the foregoing, the following are early non-contingent termination options for those tenants listed in Annex A-1: |
Loan No. 2 – Crossings at Hobart – If the borrower fails to maintain the parking ratios set forth in the following subclauses (a) through (c) for three consecutive months after notice to the borrower then the Fifth Largest Tenant, Best Buy Stores, L.P. dba Best Buy has the right to either (i) terminate its lease by providing 90 days’ prior written notice or (ii) pay 50% of the fixed rent until such time that the below-specified ratios are maintained: (a) five cars per 1,000 sq. ft. of retail area, excluding: two parking spaces for each three seats of restaurant or bar seating capacity and one space for each restaurant or bar employee; (b) eight parking spaces per 1,000 sq. ft. of building area for health clubs and entertainment facilities; and (c) eight parking spaces per 1,000 sq. ft. of building areas for a grocery store. | |
Loan No. 10 – Google Kirkland Campus Phase II – Google, the sole tenant, has the right to reduce the area of its leased space (and reduce its rent accordingly) with respect to (i) all or part of one-half of a floor, representing approximately 25% of the net rentable area at the Mortgaged Property (a “Quadrant”) effective November 30, 2020 and (ii) all or part of a Quadrant, effective as of November 30, 2022; upon 12 months’ notice and payment of a contraction fee. | |
Loan No. 12 – MVP Parking Portfolio – St. Louis Seventh & Cerre Mortgaged Property – The sole tenant, St. Louis Parking Company (Lot) has the right to terminate its lease on 10 days’ notice in the event that Major League Baseball is not being played in what is currently known as Busch Stadium, (located near |
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the Mortgaged Property) for more than 30 days’ during the normal Major League Baseball season (April 1 through September 30) for any reason. | |
Loan No. 12 – MVP Parking Portfolio – MVP Louisville Station Broadway Mortgaged Property – The sole tenant, Riverside Parking (Lot)’s annual percentage rent is 75.0% of gross receipts in excess of $275,000. Should revenues not exceed $275,000 annually, landlord will pay to tenant the difference between the total revenue for that year and $275,000, with a floor of $225,000. In the event the revenues are less than $200,000 in any contract year, the parties reserve the right to negotiate a rent reduction for the next contract year by mutual agreement. Should parties not be able to agree on a reduction, then either party may cancel the lease upon 60 days written notice to the landlord. The landlord reserves the right to cancel the lease upon 30 days’ written notice in the event after the third lease year gross receipts do not exceed $275,000. | |
Loan No. 12 – MVP Parking Portfolio – St. Louis Broadway Group Mortgaged Property – The sole tenant, St. Louis Parking Company (Lot) has the right to terminate its lease with 10 days’ written notice in the event that Major League Baseball is not being played in what is currently known as Busch Stadium, (located near the Mortgaged Property) for more than 30 days during the normal Major League Baseball season (April 1 through September 30) for any reason. | |
Loan No. 12 – MVP Parking Portfolio – MVP Indianapolis Meridian Lot Mortgaged Property – The sole tenant, Denison (Lot) may terminate its lease after the 60th month and before the 72nd month by giving 60-days’ written notice. | |
Loan No. 18 – Centre Place I – The Largest Tenant, Charles Schwab & Co., can terminate its lease anytime in the last four years of the original term, with 18 months’ notice effective, at the earliest, August 1, 2020. The tenant is required to pay a termination fee of $1.16 million ($88 per sq. ft. of tenant NRA), and pay any unamortized landlord investment in connection with such termination. | |
Loan No. 19 – Euless Town Center – The 3rd Largest Tenant, Ross, has a co-tenancy provisions with relation to IT’Z FEC Euless, LLC and Dirt Cheap. If the co-tenancy requirements are not met for twelve consecutive months, Ross may terminate the lease upon 90 days’ notice. | |
Loan No. 21 – Baypoint Commerce Center – The Largest Tenant, Cox Target Media Inc. has a one-time right to terminate its lease effective at the end of the 72nd month (December31, 2020) with written notice by the end of the 60th month (December 31, 2019), with an early termination fee equal to the unamortized leasing costs discounted at an 8.0% rate. | |
Loan No. 21 – Baypoint Commerce Center – The 4th Largest Tenant, United States of America IRS, may terminate its lease any time after May 20, 2018, upon 180 days’ written notice. | |
Loan No. 22 – Center West - The Largest Tenant, Merrill Lynch, may terminate its lease effective April 30, 2020, with written notice on or before July 31, 2019 and payment of a termination fee equal to all unamortized tenant improvements, abated rent and leasing commissions plus six months of base rent. | |
Loan No. 22 – Center West – The 4th Largest Tenant, Wells Fargo Advisors, may terminate its lease effective as of October 31, 2022, with 12 months’ written notice. The tenant must pay a termination fee equal to all unamortized tenant improvements, rent abatements, and leasing commissions plus five months’ base rent. | |
Loan No. 25 – Hickory Corners – The 4th Largest Tenant, Kid’s Stuff of Hickory, LLC, has a right to terminate its lease with 120 days’ prior written notice if any Federal, State or Local Law, ordinance or regulation or other regulation relating to resale or pawn shops is enacted (a) specifically precluding retail |
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sale of certain used products customarily sold by the tenant, which are part of tenant’s primary product; or (b) by complying with such law, the tenant is materially and negatively prevented from operating its business of selling new and used children’s toys, furniture and related accessories in the same manner as it did prior to the enactment. | |
Loan No. 28 – Highpark Corporate Center – The 2nd Largest Tenant, Orange County Charter School, has the right to terminate its lease for any reason after the first twelve months of the renewal term with six months’ notice. | |
Loan No. 36 – Park Pineway Plaza – The 2nd Largest Tenant, Sportsman’s Warehouse, has a one-time right to terminate its lease with 180 days’ prior written notice following lease year 5 if gross sales for lease year 5 are less than or equal to $7,000,000 with a termination fee of $100,000. | |
Loan No. 36 – Park Pineway Plaza – The 3rd Largest Tenant, Harbor Freight Tools, has the right to terminate its lease on the last day of the 60th full calendar month following the rent commencement date with written notice to the borrower prior to the last day of the 54th full calendar month following rent commencement date with a termination notice and an early termination fee of $78,750. | |
Loan No. 39 – 123 Church Street – The 2nd Largest Tenant, Connecticut CVS Pharmacy, L.L.C., has the following termination options: (1) if landlord intentionally violates the lease provision concerning the layout of the real property and permitted modifications by landlord and if landlord shall not cure such violations within 60 days after receipt of written notice, then, at any time thereafter until such violation shall be cured, tenant may terminate the lease, (2) if any of tenant’s exclusive use rights shall be violated and landlord shall not cure such violation within 60 days after receipt of tenant’s notice, tenant may terminate the lease, and (3) if any breach of tenant’s exclusive use rights as a result of any action taken by a tenant of the real property or the restricted land (as defined in the lease), landlord shall use its best efforts to enforce, by legal action if necessary, such exclusive rights; and provided that landlord did not contribute to the creation of such breach, landlord’s failure to succeed in enforcing such rights shall not be a default and tenant’s only remedy shall be to terminate the lease, which remedy tenant may not invoke until 365 days after tenant shall notify landlord of such violation. | |
(22) | The following major tenants (listed on Annex A-1) are currently subleasing all or a significant portion of its leased space: |
Loan No. 5 – 380 Lafayette Street – The Sole Tenant, Select Equity is currently subleasing the third floor (9,141 sq. ft., 20.0% of NRA) to Studio Sofield for $67.42 per sq. ft. on a month-to-month basis. | |
Loan No. 13 – 340 Bryant – The Largest Tenant, Switchfly, Inc. is currently subleasing the second and third floors to Five Stars Loyalty, Inc. (37,433 sq. ft., 78.5% of Switchfly, Inc. NRA, 60.1% of 340 Bryant NRA) which has an expiration of July 2018. Switchfly, Inc. is also currently subleasing the fourth floor to Guidebook Inc. (10,240 sq. ft., 21.5% of Switchfly, Inc. NRA, 16.4% of 340 Bryant NRA), which has an expiration of April 2019. | |
Loan No. 22 – Center West – The Largest Tenant, Merrill Lynch, is currently subleasing 4,550 to GE Capital Corporation for an annual base rent of $293,936 ($64.60 per sq. ft.), expiring April 30, 2017. | |
(23) | The following major tenants shown on Annex A-1 have abated, free or prepaid rent: |
Loan No. 25 – Hickory Corners – The 2nd Largest Tenant, Conn Appliances, Inc. received free rent for the period of June through September 2016 and June through September 2017. |
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(24) | The tenants shown in the Annex A-1 have signed leases but may or may not be open for business as of the cut-off date of the securitization. |
Loan No. 5 – 380 Lafayette Street – The Sole tenant, Select Equity occupies floors two through six of the of 380 Lafayette Street Property, but subleases the third floor (9,141 sq. ft.) to Studio Sofield and is in the process of moving into the second floor. Select Equity is paying for the current tenant improvements to the second floor and expects to be fully moved into the space by the end of June 2017. | |
Loan No. 8 – North Creek Office Complex – The Third Largest Tenant, PIMA Medical, recently executed a new lease and is expected to begin paying rent and take occupancy on October 1, 2017. At loan origination, the borrower reserved $1,865,093 to cover all unpaid tenant improvements, leasing commissions, free rent, and rent & common area maintenance between the loan closing date and October 1, 2017. | |
Loan No. 13 - 340 Bryant – The Largest Tenant, Switchfly, Inc. signed a 120-month lease at the subject in late 2015 with 3.0% annual rent increase bumps that runs through November 2025 with one, 5-year option to renew at fair market rent. The tenant has not taken occupancy and is currently subleasing floors two to three to Five Stars Loyalty, Inc. and floor four to Guidebook Inc. The tenant is current on all of its obligations under the lease including posting the $2.1 million letter of credit. | |
Loan No. 39 – 123 Church Street – The 2nd Largest Tenant, Connecticut CVS Pharmacy, L.L.C., has signed a lease for 8,874 sq. ft. The tenant’s lease and rent payments commenced in September 2016. The tenant is completing tenant improvements and is expected to open for business in September 2017 | |
(25) | Loan No. 18 – Center Place I – RSK Centre Place LLC and 1255 Centre Place LLC are tenants-in-common. |
Loan No. 21 – Baypoint Commerce Center – KP Holdings LLC, KC Investors Florida I, LLC and KC Investors Florida II, LLC are tenants-in-common. | |
Loan No. 39 – 123 Church Street – 123 Church St RSK LLC and Mysambe Real Estate, LLC are tenants-in-common. | |
(26) | All upfront reserve balances reflect the upfront reserve amount at loan origination. The current balance may be less than the amount shown. |
(27) | All ongoing reserve balances reflect the ongoing reserve amount at loan origination. The current balance may be greater than or less than the amount shown. Monthly reserves required to be deposited in such accounts may be capped pursuant to the related Mortgage Loan documents. |
(28) | Loan No. 2 – Pershing Square Building – A tenant, Pershing Corner, LLC is not yet open for business but is paying rent. The Pershing Square Building Loan is structured with a $3.1 million earnout reserve that is tied to Pershing Corner, LLC’s opening. |
Loan No. 3 – Crossings at Hobart - Upon the occurrence of a Critical Tenant Trigger Event, the borrowers are required to deposit the Critical Tenant Required Deposit for capital expenditures, tenant improvements and leasing commissions and operating expenses into the Critical Tenant cash reserve accounts. Notwithstanding the foregoing, in lieu of making a Critical Tenant Required Deposit the borrowers may deliver to lender an acceptable letter of credit in the amount of $2,064,080, and to the extent there are capex, tenant improvement, leasing commission or operating shortfalls related to the Critical Tenant (as described in the loan documents), the borrowers may draw from the letter of credit in an amount equal to the required amounts and deposit the proceeds of the draw into the critical tenant |
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account. In the event the Critical Tenant Trigger Event has been cured and no other Critical Tenant Trigger Event exists, as long as there are no unpaid tenant improvements and leasing commissions related to the Critical Tenant space, the Crossings at Hobart Loan documents require lender to return the letter of credit to the borrowers. | |
Loan No. 6 – Atlanta and Anchorage Hotel Portfolio – If on or before April 6, 2025, (a) the Hilton Anchorage Property franchise agreement has not been renewed or replaced with a Replacement Franchise Agreement and (b) the Hilton Anchorage Property PIP deposit conditions have not been satisfied, the borrower will deposit with the lender the Hilton Anchorage PIP deposit amount (as set forth in the mortgage loan documents) and if, at any time, following April 6, 2025, the lender determines that amounts on deposit in the Hilton Anchorage Property PIP reserve account together with any amounts in the Hilton Anchorage capital expenditure account will be insufficient to pay the then estimated costs for any PIP work, the borrower is required to make payments with respect to such insufficiency into the PIP reserve account. | |
Loan No. 9 – Flats East Bank Phase I – On each monthly payment date occurring in May, June, July and August, the borrower is required to deposit $100,000 into a seasonality reserve account. In the event that insufficient net cash flow exists to pay debt service or operating expenses during the months of January, February, March, November or December, funds in the seasonality reserve may be applied to cover any shortfall. The lender is required to reassess the amount to be deposited into the seasonality reserve account annually. | |
Loan No. 11 – Art Van Portfolio – (i) Tax and Insurance Reserves and Condominium Common will spring into place if Tax Reserve Waiver Conditions, Insurance Reserve Waiver Conditions and the Condominium Common Charges Waiver Conditions Precedent, as applicable, are no longer satisfied; (ii) Prepaid Rent Reserve – on each Art Van Rent Payment Date, the borrower is required to deposit with the lender the Art Van Basic Rent due by Art Van on such date; (iii) on each Monthly Payment Date in March, June, September and December, the borrower is required to deposit with the lender and amount equal to the Two Month Prepaid Debt Service and Monthly Reserve Amount for the applicable period. | |
Loan No. 17 – Brink’s Office – On each payment date commencing with the June 6, 2022 payment date, unless (a) the investment grade conditions are then and remain satisfied, or (b) the aggregate amount of critical tenant TI/LC funds and rollover funds (excluding funds consisting of the initial rollover deposit) then on deposit is equal to or greater than $1,000,000, the borrower is required to deposit with the lender $8,487 for tenant improvement costs and leasing commissions. | |
Loan No. 23 – Persis STNL Portfolio -Notwithstanding the foregoing, replacement reserve funding is not be required during the first five years of the loan term, provided (i) no event of default has occurred and is continuing, (ii) the senior unsecured debt rating for Bloomin’ Brands, Inc. (NASDAQ: BLMN) does not fall below “B” (S&P / Fitch) / “B2” (Moody’s), and (iii) no tenant trigger period exists. For the avoidance of doubt, upon the occurrence of any of the conditions (ii), or (iii) as outlined above, collections only commence for the affected Mortgaged Property(ies), as applicable. Provided no ground lease trigger period is then in effect, replacement reserve funds are not required to be escrowed for the Panda Express Camillus Mortgaged Property during the loan term. | |
Loan No. 23 – Persis STNL Portfolio - Notwithstanding the foregoing, TI/LC reserve funding is not required during the first five (5) years of the loan term, provided (i) no event of default has occurred and is continuing, (ii) the senior unsecured debt rating for Bloomin’ Brands, Inc. (NASDAQ: BLMN) does not fall below “B” (S&P / Fitch) / “B2” (Moody’s), and (iii) no tenant trigger period exists. For the avoidance of doubt, upon the occurrence of any of the conditions (ii) or (iii) as outlined above, collections only commence for the affected Mortgaged Property(ies), as applicable. Provided no ground lease trigger |
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period is then in effect, rollover reserve funds are not required to be escrowed for the Panda Express Camillus Mortgaged Property during the loan term. | |
Loan No. 25 – Hickory Corners – The borrower is not required to make monthly rollover deposits if the combined balance in the TI/LC Account and the special TI/LC account exceeds $500,000 and the following conditions have occurred: (i) the Hamrick’s, Incorporated lease has been renewed to the 2021 renewal or a critical tenant space re-tenanting event has occurred and (ii) the debt yield based on the trailing twelve month period is greater than 10.3%. | |
Loan No. 30 - Walgreens Portland – Commencing upon the eighth year of the term (April 6, 2024), a cash sweep will be triggered and such cash sweep will be ongoing until the loan is satisfied in full. | |
Loan No. 33 - Walgreens Bangor – Commencing upon the eighth year of the term (April 6, 2024), a cash sweep will be triggered and such cash sweep will be ongoing until the loan is satisfied in full. | |
Loan No. 35 – Microtel Georgetown - Borrower is required to make monthly payments to the Seasonality Reserve of $120,000 during the months of July and August and $30,000 during the month of September on each payment date in which the balance of the Seasonality Reserve is less than $270,000. | |
Loan No. 36 – KB St. Louis Dialysis Portfolio – The borrower is required to make a monthly replacement reserve deposit of $263 on each payment date commencing in year six of the Mortgage Loan term. | |
Loan No. 38 – Park Pineway Plaza – The borrower is not required to deposit the monthly rollover deposit during such times that (i) prior to the satisfaction of the lease renewal conditions, the balance in the rollover account exceeds $450,000, and (ii) following the satisfaction of the lease renewal conditions, the balance of the rollover account exceeds $350,000. | |
Loan No. 41 – Comfort Suites Tucson – At origination, the borrower reserved $96,500 into a seasonality reserve account, which funds may be used for debt service payments during the months of May, June, July, August or September if the lender determines, in its sole discretion, that insufficient gross income from operations exist to cover debt service payments. On any payment date on which the funds in the seasonality reserve account are less than $96,500, the borrower is required to deposit an amount necessary to cause such funds to equal $96,500. | |
(29) | Loan No. 13 – 340 Bryant – The Largest Tenant, Switchfly, Inc. in conjunction with the signing of the lease, posted an approximately $2.1 million irrevocable letter of credit with Silicon Valley Bank. At origination, the lender was named as the beneficiary under the letter of credit and may draw upon the letter of credit upon the occurrence of a tenant default under the lease and only to the extent necessary to cure such default or compensate the lender for loss incurred in connection with such default. So long as the tenant has not defaulted under the lease, Switchfly, Inc. may request the letter of credit to be reduced to (i) $1,487,161 following the date which is 36 months after the commencement date, and (ii) to $892,357 following the date which is 60 months after the commencement date. |
Loan No. 16 - Holiday Inn Express Nashville – Downtown - At loan origination, the borrower delivered a $5,309,000 letter of credit assigned to the lender until completion of the franchisor-required property improvement plan (“PIP”). In addition, the guarantors delivered a guaranty of completion for the PIP work ensuring the completion and payment of the work are completed in accordance with the terms and provisions of the loan agreement. Upon completion of all PIP work, the lender is required to return the letter of credit to the borrower. | |
(30) | Loan No. 31 - Rite Aid Portfolio Lima OH – Rite Aid West Robb - The Phase I environmental report for the Rite Aid West Robb Property recommended that a Phase II report be completed to assess the potential |
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impacts associated with the dry cleaning facility listings at the subject property. The Phase II investigation was completed on January 9, 2017 and recommended no further investigation be taken at that time. | |
Loan No. 31 - Rite Aid Portfolio Lima OH – Rite Aid 506 West Market - The Phase I environmental report for the Rite Aid 506 West Market Property recommended that a Phase II report be completed to assess the potential impacts associated with the past automobile service facility and filling station listings at the subject property. The Phase II investigation was completed on January 9, 2017 and recommended no further investigation be taken at that time. | |
(31) | Environmental Insurance In Lieu of Phase II |
Loan No. | Mortgage Loan | Mortgage
Loan Cut-off Date Balance |
%
of Initial Outstanding Pool Balance |
Maximum Policy Amount | Premium Paid in Full | |||||
11 | Art Van Portfolio | $20,500,000 | 3.2% | $4,000,000 | Yes |
(32) | Summary of Existing Pari Passu Debt |
Loan No. |
Mortgage Loan | Mortgage
Loan Cut-off Date Balance |
Companion Loan Cut-off Date Balance |
Loan Combination Cut- off Date Balance |
Loan Combination U/W NCF DSCR |
Loan Combination Cut-off Date LTV Ratio |
Loan Combination Cut- off Date U/W NOI Debt Yield | ||||||||||
3 | Crossings at Hobart | $42,823,320 | $13,942,476 | $56,765,797 | 1.40x | 61.8% | 10.1% | ||||||||||
4 | Yeshiva University Portfolio | $35,000,000 | $105,000,000 | $140,000,000 | 1.97x | 40.5% | 12.9% | ||||||||||
6 | Atlanta and Anchorage Hotel Portfolio | $32,363,041 | $82,152,334 | $114,515,375 | 1.81x | 62.9% | 15.7% | ||||||||||
7 | EIP Logistics Portfolio | $29,000,000 | $12,000,000 | $41,000,000 | 1.37x | 70.8% | 10.5% | ||||||||||
10 | Google Kirkland Campus Phase II | $22,500,000 | $50,000,000 | $72,500,000 | 2.56x | 49.7% | 9.8% | ||||||||||
11 | Art Van Portfolio | $20,500,000 | $48,250,000 | $68,750,000 | 1.47x | 68.2% | 10.1% | ||||||||||
13 | 340 Bryant | $16,000,000 | $14,700,000 | $30,700,000 | 1.43x | 59.0% | 10.2% | ||||||||||
16 | Holiday Inn Express Nashville - Downtown | $15,257,048 | $56,337,515 | $71,594,563 | 1.94x | 60.7% | 13.9% | ||||||||||
21 | Baypoint Commerce Center | $10,000,000 | $30,000,000 | $40,000,000 | 1.79x | 64.5% | 14.3% | ||||||||||
22 | Center West | $10,000,000 | $70,000,000 | $80,000,000 | 1.94x | 38.3% | 9.7% |
(33) | Summary of Future Mezzanine Debt |
Loan No. |
Mortgage Loan | Mortgage
Loan Cut-off Date Balance |
%
of Initial Outstanding Pool Balance |
Intercreditor Agreement Required |
Combined
Minimum DSCR |
Combined Maximum LTV |
Combined
Debt Yield | |||||||
2 | Pershing Square Building | $44,000,000 | 6.8% | Yes | 1.60x | 65.0% | 10.0% | |||||||
24 | Springhill Suites Tampa | $9,582,260 | 1.5% | Yes | 1.45x | 63.6% | 11.0% |
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