FWP 1 n2360-x3_anxa1.htm FREE WRITING PROSPECTUS

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    REGISTRATION FILE NO.: 333-226082-08
     

 

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STATEMENT REGARDING THIS FREE WRITING PROSPECTUS
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BMARK 2020-B21 Annex A-1
                           
Control Number Loan / Property Flag Footnotes Property Name Originator Mortgage Loan Seller Related Group Crossed Group Address City State Zip Code General Property Type Detailed Property Type
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building JPMCB, BANA, COL, DBRI JPMCB, GACC NAP NAP 1114 Avenue of the Americas New York New York 10036 Office CBD
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park GSBI, WFB GSMC NAP NAP 3140 Peacekeeper Way McClellan California 95652 Mixed Use Industrial/Office/Multifamily/Retail/Other
3 Loan 20 Amazon West LA CREFI CREFI NAP NAP 5750 & 5620 Mesmer Avenue and 11750 Jefferson Boulevard Los Angeles California 90230 Industrial Warehouse/Distribution
4 Loan 8, 21 32-42 Broadway CREFI CREFI NAP NAP 32-42 Broadway New York New York 10004 Office CBD
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay CREFI, BCREI, DBNY, SGFC CREFI, GACC NAP NAP            
5.01 Property   MGM Grand         3799 South Las Vegas Boulevard Las Vegas Nevada 89109 Hospitality Full Service
5.02 Property   Mandalay Bay         3950 South Las Vegas Boulevard Las Vegas Nevada 89119 Hospitality Full Service
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue CREFI CREFI NAP NAP 416-420 Kent Avenue Brooklyn New York 11249 Multifamily High Rise with Retail
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue GSBI, BANA GSMC NAP NAP 711 5th Avenue New York New York 10022 Mixed Use Office/Retail
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive GSBI GSMC NAP NAP 3170 & 3180 Fairview Park Drive Falls Church Virginia 22042 Office Suburban
9 Loan 43 One Commerce Square CREFI CREFI NAP NAP 40 South Main Street Memphis Tennessee 38103 Office CBD
10 Loan 44, 45, 46 Tower at Frisco Square CREFI CREFI NAP NAP 5757 and 5805 Main Street Frisco Texas 75034 Office Suburban
11 Loan 47 The Standard JPMCB JPMCB NAP NAP 27777 Inkster Road Farmington Hills Michigan 48334 Office Suburban
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza JPMCB, SGFC, WFB JPMCB NAP NAP 5100 Kings Plaza Brooklyn New York 11234 Retail Super Regional Mall
13 Loan 8, 55, 56 4 West 58th Street JPMCB JPMCB NAP NAP 4 West 58th Street New York New York 10019 Mixed Use Office/Retail
14 Loan 8, 57, 58, 59 Redmond Town Center CREFI CREFI NAP NAP 7330, 7530 & 7345 164th Avenue Northeast Redmond Washington 98052 Mixed Use Retail/Office
15 Loan   Walgreens 9 Portfolio CREFI CREFI NAP NAP            
15.01 Property   WAG Buffalo Grove         1225 West Dundee Road Buffalo Grove Illinois 60089 Retail Single Tenant Retail
15.02 Property   WAG Nashville         3130 Clarksville Pike Nashville Tennessee 37218 Retail Single Tenant Retail
15.03 Property   WAG Irmo         1251 Dutch Fork Road Irmo South Carolina 29063 Retail Single Tenant Retail
15.04 Property   WAG Sherman         106 Illini Boulevard Sherman Illinois 62684 Retail Single Tenant Retail
15.05 Property   WAG Cleveland         2900 Paul Huff Parkway Northwest Cleveland Tennessee 37312 Retail Single Tenant Retail
15.06 Property   WAG Saginaw         4989 State Street Saginaw Michigan 48603 Retail Single Tenant Retail
15.07 Property   WAG Alice         1055 East Main Street Alice Texas 78332 Retail Single Tenant Retail
15.08 Property   WAG Camden         2407 Broad Street Camden South Carolina 29020 Retail Single Tenant Retail
15.09 Property   WAG Poplar Bluff         110 North Westwood Boulevard Poplar Bluff Missouri 63901 Retail Single Tenant Retail
16 Loan 60 44 Whippany Fee CREFI CREFI NAP NAP 44 Whippany Road Morristown New Jersey 07960 Other Leased Fee
17 Loan 8, 61, 62, 63 Cambridge Crossing DBRI GACC NAP NAP 222 Jacobs Street Cambridge & Somerville Massachusetts 02141 Office Life Science
18 Loan 64 InCommercial Net Lease Portfolio CREFI CREFI NAP NAP            
18.01 Property   Walgreens - Grenada, MS         329 Sunset Drive Grenada Mississippi 38901 Retail Single Tenant Retail
18.02 Property   Walgreens - Bastrop, LA         1930 East Madison Avenue Bastrop Louisiana 71220 Retail Single Tenant Retail
18.03 Property   Fresenius - Alexandria, LA         5820 Masonic Drive Alexandria Louisiana 71301 Office Medical
18.04 Property   Fresenius - Marksville, LA         634 Tunica Drive West Marksville Louisiana 71351 Office Medical
18.05 Property   Dollar General - Otterbein, IN         5178 North 950 West Otterbein Indiana 47970 Retail Single Tenant Retail
18.06 Property   Dollar General - Chassell, MI         41910 Wilson Memorial Drive Chassell Michigan 49916 Retail Single Tenant Retail
18.07 Property   Dollar General - Noel, MO         500 North Cliffside Drive Noel Missouri 64854 Retail Single Tenant Retail
18.08 Property   Dollar General - El Dorado Springs, MO         1300 South First Street El Dorado Springs Missouri 64744 Retail Single Tenant Retail
18.09 Property   Dollar General - Montgomery City, MO         631 South Sturgeon Street Montgomery City Missouri 63361 Retail Single Tenant Retail
18.10 Property   Dollar General - Cambridge, MN         5072 Highway 95 Northwest Cambridge Minnesota 55008 Retail Single Tenant Retail
18.11 Property   Dollar General - Bemidji, MN         903 Washington Avenue South Bemidji Minnesota 56601 Retail Single Tenant Retail
18.12 Property   Dollar General - Kingman, IN         512 West State Street Kingman Indiana 47952 Retail Single Tenant Retail
18.13 Property   Dollar General - St Clair, MO         1079 Gravois Road St. Clair Missouri 63077 Retail Single Tenant Retail
18.14 Property   Dollar General - Greenview, IL         345 East Douglas Street Greenview Illinois 62642 Retail Single Tenant Retail
18.15 Property   Dollar General - Warrensburg, IL         275 North State Route 121 Warrensburg Illinois 62573 Retail Single Tenant Retail
18.16 Property   Dollar General - Fairbank, IA         1023 Central Avenue Fairbank Iowa 50629 Retail Single Tenant Retail
18.17 Property   Dollar General - St Charles, IA         1035 G50 Highway St. Charles Iowa 50240 Retail Single Tenant Retail
18.18 Property   Dollar General - Pelican Rapids, MN         10315 County Highway 5 Pelican Rapids Minnesota 56572 Retail Single Tenant Retail
18.19 Property   Dollar General - Eolia, MO         222 North Main Street Eolia Missouri 63344 Retail Single Tenant Retail
19 Loan 65, 88 Best Western Plus Carriage Inn DBRI GACC NAP NAP 5525 Sepulveda Boulevard Sherman Oaks California 91411 Hospitality Limited Service
20 Loan 8, 37, 66, 67 JW Marriott Nashville GSBI GSMC NAP NAP 201 8th Avenue South Nashville Tennessee 37203 Hospitality Full Service
21 Loan 8, 68, 69, 70 White Oak Crossing GSBI GSMC NAP NAP 120-280 Shenstone Boulevard and 7085 White Oak Road Garner North Carolina 27529 Retail Anchored
22 Loan 8, 71, 72, 73 Willoughby Commons GSBI GSMC NAP NAP 36363 Euclid Avenue Willoughby Ohio 44094 Retail Power Center
23 Loan 8, 74 The Hub GSBI GSMC NAP NAP 2994 Third Avenue Bronx New York 10455 Mixed Use Retail/Office
24 Loan 75, 76 SVEA Texas Portfolio DBRI GACC NAP NAP            
24.01 Property   4200 Jimmy Johnson Boulevard         4200 Jimmy Johnson Boulevard Port Arthur Texas 77642 Office Suburban
24.02 Property   2220 Forum Drive         2220 Forum Drive Arlington Texas 76010 Industrial Warehouse/Distribution
24.03 Property   4626 East Southcross Boulevard         4626 East Southcross Boulevard San Antonio Texas 78222 Office Medical
24.04 Property   1919 Austin Avenue         1919 Austin Avenue McAllen Texas 78501 Office Suburban
24.05 Property   1470 Highway 44         1470 Highway 44 Robstown Texas 78380 Office Suburban
24.06 Property   4602 East Southcross Boulevard         4602 East Southcross Boulevard San Antonio Texas 78222 Office Medical
24.07 Property   2412 East Richardson Road         2412 East Richardson Road Edinburg Texas 78542 Industrial Warehouse/Distribution
24.08 Property   11811 North D Street         11811 North D Street La Porte Texas 77571 Industrial Warehouse
25 Loan 77 Miramar Tech Center CREFI CREFI NAP NAP 2900 Monarch Lakes Boulevard Miramar Florida 33027 Office Suburban
26 Loan 78, 79 10 Railroad Avenue JPMCB JPMCB NAP NAP 10 Railroad Avenue Closter New Jersey 07624 Industrial Warehouse/Distribution

 

A-1-1

 

 

BMARK 2020-B21 Annex A-1

                           
Control Number Loan / Property Flag Footnotes Property Name Originator Mortgage Loan Seller Related Group Crossed Group Address City State Zip Code General Property Type Detailed Property Type
27 Loan 80, 81 Dearborn Flex Portfolio CREFI CREFI NAP NAP            
27.01 Property   5850 Mercury Drive         5850 Mercury Drive Dearborn Michigan 48126 Industrial R&D/Flex
27.02 Property   15041 South Commerce Drive         15041 South Commerce Drive Dearborn Michigan 48120 Industrial R&D/Flex
28 Loan 44, 82 3100 Research Boulevard JPMCB JPMCB NAP NAP 3100 Research Boulevard Kettering Ohio 45420 Mixed Use Office/Industrial
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago CREFI CREFI NAP NAP 4720 South Cottage Grove Avenue Chicago Illinois 60615 Retail Anchored
30 Loan 84 156 West 54th and 159 West 53rd Street CREFI CREFI Group 1 NAP 156 West 54th Street and 159 West 53rd Street New York New York 10019 Other Parking
31 Loan 84 212 East 47th Street CREFI CREFI Group 1 NAP 212 East 47th Street New York New York 10017 Other Parking
32 Loan 85 Park Plaza Business Park JPMCB JPMCB NAP NAP 11104 West Airport Boulevard Stafford Texas 77477 Office Suburban
33 Loan 86 Franz Road Industrial DBRI GACC NAP NAP 5120-5150 Franz Road Katy Texas 77493 Industrial Warehouse
34 Loan   BJ’s Olean JPMCB JPMCB NAP NAP 1899 Cinema Drive Olean New York 14760 Retail Single Tenant Retail
35 Loan   Rite Aid - Yucca Valley CREFI CREFI NAP NAP 57701 Twentynine Palms Highway Yucca Valley California 92284 Retail Single Tenant Retail
36 Loan 78, 87 Omaha Sitel JPMCB JPMCB NAP NAP 5601 and 5607 North 103rd Street Omaha Nebraska 68134 Office Suburban
37 Loan   CityLine Buffalo Storage CREFI CREFI Group 2 NAP 744 Buffalo Shoals Road Statesville North Carolina 28677 Self Storage Self Storage
38 Loan   CityLine Loveland CO CREFI CREFI Group 2 NAP 215 West 29th Street Loveland Colorado 80538 Self Storage Self Storage
39 Loan 84 455 Central Park West CREFI CREFI Group 1 NAP 455 Central Park West New York New York 10025 Other Parking

 

A-1-2

 

 

BMARK 2020-B21 Annex A-1
                               
Control Number Loan / Property Flag Footnotes Property Name Year Built Year Renovated Units, Rooms, Sq Ft Unit Description Loan Per Unit ($) Ownership Interest Original Balance ($) Cut-off Date Balance ($) Allocated Cut-off Date Loan Amount ($) % of Initial Pool Balance Balloon Balance ($) Mortgage Loan Rate (%)
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 1974 2018 1,556,972 SF 567.13 Fee Simple 100,000,000 100,000,000 100,000,000 9.2% 100,000,000 2.69210%
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 1938-2019 NAP 6,925,484 SF 51.69 Fee Simple 75,000,000 75,000,000 75,000,000 6.9% 75,000,000 3.30900%
3 Loan 20 Amazon West LA 1977, 1978, 2014 2020 544,935 SF 137.63 Fee Simple 75,000,000 75,000,000 75,000,000 6.9% 75,000,000 2.77000%
4 Loan 8, 21 32-42 Broadway 1889, 1904 2019 521,573 SF 239.66 Fee Simple 75,000,000 75,000,000 75,000,000 6.9% 75,000,000 3.25000%
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay     9,748 Rooms 167,644.65   75,000,000 75,000,000 75,000,000 6.9% 75,000,000 3.55800%
5.01 Property   MGM Grand 1993 NAP 4,998 Rooms   Fee Simple     40,875,000      
5.02 Property   Mandalay Bay 1999 NAP 4,750 Rooms   Fee Simple     34,125,000      
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 2019 NAP 857 Units 253,092.18 Fee Simple 60,000,000 60,000,000 60,000,000 5.5% 60,000,000 3.34832%
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 1927 2013-2019 340,024 SF 1,602.83 Fee Simple 60,000,000 60,000,000 60,000,000 5.5% 60,000,000 3.16000%
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 1987, 1997 2019 279,701 SF 187.70 Fee Simple 52,500,000 52,500,000 52,500,000 4.8% 47,045,501 3.28800%
9 Loan 43 One Commerce Square 1972 NAP 391,440 SF 84.30 Fee Simple and Leasehold 33,000,000 33,000,000 33,000,000 3.0% 25,894,668 3.67000%
10 Loan 44, 45, 46 Tower at Frisco Square 2015 NAP 171,080 SF 187.05 Fee Simple 32,000,000 32,000,000 32,000,000 3.0% 28,849,114 3.62000%
11 Loan 47 The Standard 1987 2015 284,459 SF 108.98 Fee Simple 31,000,000 31,000,000 31,000,000 2.9% 25,868,989 3.67200%
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 1969 2018 811,797 SF 599.90 Fee Simple/Leasehold 30,000,000 30,000,000 30,000,000 2.8% 30,000,000 3.35880%
13 Loan 8, 55, 56 4 West 58th Street 1948 2016-2019 83,537 SF 1,496.34 Fee Simple/Leasehold 30,000,000 30,000,000 30,000,000 2.8% 30,000,000 3.68000%
14 Loan 8, 57, 58, 59 Redmond Town Center 1996, 1999, 2013 NAP 386,415 SF 262.67 Fee Simple 30,000,000 30,000,000 30,000,000 2.8% 28,362,230 3.85000%
15 Loan   Walgreens 9 Portfolio     133,283 SF 225.08   30,000,000 30,000,000 30,000,000 2.8% 30,000,000 3.51000%
15.01 Property   WAG Buffalo Grove 2001 NAP 15,000 SF   Fee Simple     4,313,833      
15.02 Property   WAG Nashville 2000 NAP 15,800 SF   Fee Simple     3,598,838      
15.03 Property   WAG Irmo 2007 NAP 14,841 SF   Fee Simple     3,360,506      
15.04 Property   WAG Sherman 2011 NAP 14,739 SF   Fee Simple     3,241,341      
15.05 Property   WAG Cleveland 2008 NAP 14,700 SF   Fee Simple     3,241,341      
15.06 Property   WAG Saginaw 1999 NAP 13,840 SF   Fee Simple     3,181,758      
15.07 Property   WAG Alice 2007 NAP 14,776 SF   Fee Simple     3,175,531      
15.08 Property   WAG Camden 2003 NAP 14,838 SF   Fee Simple     3,062,592      
15.09 Property   WAG Poplar Bluff 2006 NAP 14,749 SF   Fee Simple     2,824,260      
16 Loan 60 44 Whippany Fee 1986 NAP 231,865 SF 113.21 Fee Simple 26,250,000 26,250,000 26,250,000 2.4% 26,250,000 3.56000%
17 Loan 8, 61, 62, 63 Cambridge Crossing 2019 NAP 426,869 SF 691.08 Fee Simple 25,000,000 25,000,000 25,000,000 2.3% 25,000,000 2.69800%
18 Loan 64 InCommercial Net Lease Portfolio     182,352 SF 122.02   22,250,000 22,250,000 22,250,000 2.1% 18,017,592 3.66000%
18.01 Property   Walgreens - Grenada, MS 2008 NAP 14,550 SF   Fee Simple     3,150,000      
18.02 Property   Walgreens - Bastrop, LA 2006 NAP 14,820 SF   Fee Simple     2,350,000      
18.03 Property   Fresenius - Alexandria, LA 2018 NAP 7,385 SF   Fee Simple     2,180,000      
18.04 Property   Fresenius - Marksville, LA 2018 NAP 6,630 SF   Fee Simple     1,800,000      
18.05 Property   Dollar General - Otterbein, IN 2020 NAP 9,026 SF   Fee Simple     940,000      
18.06 Property   Dollar General - Chassell, MI 2020 NAP 9,100 SF   Fee Simple     930,000      
18.07 Property   Dollar General - Noel, MO 2020 NAP 10,640 SF   Fee Simple     900,000      
18.08 Property   Dollar General - El Dorado Springs, MO 2020 NAP 10,640 SF   Fee Simple     880,000      
18.09 Property   Dollar General - Montgomery City, MO 2020 NAP 10,566 SF   Fee Simple     880,000      
18.10 Property   Dollar General - Cambridge, MN 2020 NAP 9,100 SF   Fee Simple     870,000      
18.11 Property   Dollar General - Bemidji, MN 2020 NAP 9,026 SF   Fee Simple     870,000      
18.12 Property   Dollar General - Kingman, IN 2020 NAP 9,026 SF   Fee Simple     840,000      
18.13 Property   Dollar General - St Clair, MO 2020 NAP 9,100 SF   Fee Simple     840,000      
18.14 Property   Dollar General - Greenview, IL 2020 NAP 9,026 SF   Fee Simple     840,000      
18.15 Property   Dollar General - Warrensburg, IL 2020 NAP 9,002 SF   Fee Simple     830,000      
18.16 Property   Dollar General - Fairbank, IA 2020 NAP 9,100 SF   Fee Simple     800,000      
18.17 Property   Dollar General - St Charles, IA 2020 NAP 9,026 SF   Fee Simple     790,000      
18.18 Property   Dollar General - Pelican Rapids, MN 2019 NAP 7,489 SF   Fee Simple     790,000      
18.19 Property   Dollar General - Eolia, MO 2020 NAP 9,100 SF   Fee Simple     770,000      
19 Loan 65, 88 Best Western Plus Carriage Inn 1964 2019 178 Rooms 115,168.54 Fee Simple 20,500,000 20,500,000 20,500,000 1.9% 20,500,000 3.36000%
20 Loan 8, 37, 66, 67 JW Marriott Nashville 2018 NAP 533 Rooms 347,091.93 Fee Simple and Leasehold 20,000,000 20,000,000 20,000,000 1.8% 20,000,000 3.13900%
21 Loan 8, 68, 69, 70 White Oak Crossing 2002, 2003 NAP 527,874 SF 120.06 Fee Simple 20,000,000 20,000,000 20,000,000 1.8% 17,564,475 3.54400%
22 Loan 8, 71, 72, 73 Willoughby Commons 1997-2000 NAP 351,581 SF 105.10 Fee Simple 20,000,000 20,000,000 20,000,000 1.8% 17,749,071 4.03800%
23 Loan 8, 74 The Hub 2006 NAP 172,136 SF 256.81 Fee Simple 19,205,881 19,205,881 19,205,881 1.8% 19,205,881 3.49300%
24 Loan 75, 76 SVEA Texas Portfolio     119,243 SF 128.52   15,325,000 15,325,000 15,325,000 1.4% 13,396,394 4.00800%
24.01 Property   4200 Jimmy Johnson Boulevard 2016 NAP 17,325 SF   Fee Simple     3,244,123      
24.02 Property   2220 Forum Drive 2017 NAP 25,536 SF   Fee Simple     3,051,732      
24.03 Property   4626 East Southcross Boulevard 2002 NAP 13,000 SF   Fee Simple     2,520,996      
24.04 Property   1919 Austin Avenue 1992 NAP 17,584 SF   Fee Simple     1,910,649      
24.05 Property   1470 Highway 44 2018 NAP 8,878 SF   Fee Simple     1,685,087      
24.06 Property   4602 East Southcross Boulevard 2004 NAP 8,040 SF   Fee Simple     1,592,208      
24.07 Property   2412 East Richardson Road 2000 NAP 19,955 SF   Fee Simple     888,983      
24.08 Property   11811 North D Street 1995 NAP 8,925 SF   Fee Simple     431,223      
25 Loan 77 Miramar Tech Center 2019 NAP 56,710 SF 239.11 Fee Simple 13,560,000 13,560,000 13,560,000 1.3% 13,560,000 3.58000%
26 Loan 78, 79 10 Railroad Avenue 1958 2012 143,802 SF 84.70 Fee Simple 12,180,000 12,180,000 12,180,000 1.1% 10,507,876 3.89000%

 

A-1-3

 

 

BMARK 2020-B21 Annex A-1

                               
Control Number Loan / Property Flag Footnotes Property Name Year Built Year Renovated Units, Rooms, Sq Ft Unit Description Loan Per Unit ($) Ownership Interest Original Balance ($) Cut-off Date Balance ($) Allocated Cut-off Date Loan Amount ($) % of Initial Pool Balance Balloon Balance ($) Mortgage Loan Rate (%)
27 Loan 80, 81 Dearborn Flex Portfolio     145,754 SF 71.35   10,400,000 10,400,000 10,400,000 1.0% 8,421,438 3.66000%
27.01 Property   5850 Mercury Drive 2000 2017 78,670 SF   Fee Simple     5,574,400      
27.02 Property   15041 South Commerce Drive 1989 NAP 67,084 SF   Fee Simple     4,825,600      
28 Loan 44, 82 3100 Research Boulevard 1984 2016 277,012 SF 36.10 Fee Simple 10,000,000 10,000,000 10,000,000 0.9% 9,012,455 3.60200%
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 2014 NAP 56,120 SF 168.39 Fee Simple 9,450,000 9,450,000 9,450,000 0.9% 9,450,000 3.71000%
30 Loan 84 156 West 54th and 159 West 53rd Street 1968 NAP 41,692 SF 197.88 Fee Simple 8,250,000 8,250,000 8,250,000 0.8% 8,250,000 4.61000%
31 Loan 84 212 East 47th Street 1979 NAP 24,508 SF 327.05 Fee Simple 8,015,267 8,015,267 8,015,267 0.7% 8,015,267 4.61000%
32 Loan 85 Park Plaza Business Park 1983 2019 90,163 SF 77.64 Fee Simple 7,000,000 7,000,000 7,000,000 0.6% 5,549,916 3.95000%
33 Loan 86 Franz Road Industrial 2002 NAP 63,750 SF 86.27 Fee Simple 5,500,000 5,500,000 5,500,000 0.5% 4,483,068 3.86000%
34 Loan   BJ’s Olean 1994 NAP 71,760 SF 72.74 Fee Simple 5,220,000 5,220,000 5,220,000 0.5% 4,193,384 4.32000%
35 Loan   Rite Aid - Yucca Valley 2011 NAP 18,026 SF 249.64 Fee Simple 4,500,000 4,500,000 4,500,000 0.4% 4,079,611 3.94000%
36 Loan 78, 87 Omaha Sitel 1977 NAP 35,774 SF 116.01 Fee Simple 4,150,000 4,150,000 4,150,000 0.4% 3,605,901 4.18300%
37 Loan   CityLine Buffalo Storage 1997 2007 55,725 SF 68.19 Fee Simple 3,800,000 3,800,000 3,800,000 0.4% 3,279,857 3.91000%
38 Loan   CityLine Loveland CO 2016 NAP 32,805 SF 82.30 Fee Simple 2,700,000 2,700,000 2,700,000 0.2% 2,274,439 4.00000%
39 Loan 84 455 Central Park West 2002 NAP 15,376 SF 129.08 Fee Simple 1,984,733 1,984,733 1,984,733 0.2% 1,984,733 4.61000%

 

A-1-4

 

 

BMARK 2020-B21 Annex A-1
                                   
Control Number Loan / Property Flag Footnotes Property Name Administrative Cost Rate (%) (1) Net Mortgage Loan Rate (%) Monthly Debt Service ($) (2) Annual Debt Service ($) Pari Passu Companion Loan Monthly Debt Service ($) Pari Passu Companion Loan Annual Debt Service ($) Amortization Type Interest Accrual Method Seasoning Original Interest-Only Period (Mos.) Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity / ARD (Mos.) Original Amortization Term (Mos.)
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 0.01311% 2.67899% 227,457.52 2,729,490.24 1,780,992.41 21,371,908.92 Interest Only Actual/360 0 121 121 121 121 0
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 0.01186% 3.29714% 209,684.90 2,516,218.80 791,211.00 9,494,532.00 Interest Only Actual/360 0 121 121 121 121 0
3 Loan 20 Amazon West LA 0.01186% 2.75814% 175,529.51 2,106,354.12     Interest Only Actual/360 0 120 120 120 120 0
4 Loan 8, 21 32-42 Broadway 0.01186% 3.23814% 205,946.18 2,471,354.16 137,297.45 1,647,569.40 Interest Only Actual/360 0 120 120 120 120 0
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 0.01124% 3.54677% 225,463.54 2,705,562.48 4,687,236.72 56,246,840.64 Interest Only - ARD Actual/360 8 120 112 120 112 0
5.01 Property   MGM Grand                            
5.02 Property   Mandalay Bay                            
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 0.01561% 3.33271% 169,741.22 2,036,894.64 443,873.30 5,326,479.60 Interest Only Actual/360 0 120 120 120 120 0
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 0.01311% 3.14689% 160,194.44 1,922,333.28 1,294,905.10 15,538,861.20 Interest Only Actual/360 8 120 112 120 112 0
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 0.01186% 3.27614% 229,579.68 2,754,956.16     Interest Only, Then Amortizing Actual/360 0 60 60 120 120 360
9 Loan 43 One Commerce Square 0.01186% 3.65814% 151,333.98 1,816,007.76     Amortizing Actual/360 0 0 0 120 120 360
10 Loan 44, 45, 46 Tower at Frisco Square 0.06061% 3.55939% 145,846.38 1,750,156.56     Interest Only, Then Amortizing Actual/360 0 61 61 121 121 360
11 Loan 47 The Standard 0.06061% 3.61139% 142,197.23 1,706,366.76     Interest Only, Then Amortizing Actual/360 0 24 24 120 120 360
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 0.01186% 3.34694% 85,136.25 1,021,635.00 1,296,908.88 15,562,906.56 Interest Only Actual/360 10 120 110 120 110 0
13 Loan 8, 55, 56 4 West 58th Street 0.01186% 3.66814% 93,277.78 1,119,333.36 295,379.63 3,544,555.56 Interest Only Actual/360 8 120 112 120 112 0
14 Loan 8, 57, 58, 59 Redmond Town Center 0.01186% 3.83814% 140,642.47 1,687,709.64 335,197.89 4,022,374.68 Interest Only, Then Amortizing Actual/360 8 24 16 60 52 360
15 Loan   Walgreens 9 Portfolio 0.01186% 3.49814% 88,968.75 1,067,625.00     Interest Only Actual/360 1 120 119 120 119 0
15.01 Property   WAG Buffalo Grove                            
15.02 Property   WAG Nashville                            
15.03 Property   WAG Irmo                            
15.04 Property   WAG Sherman                            
15.05 Property   WAG Cleveland                            
15.06 Property   WAG Saginaw                            
15.07 Property   WAG Alice                            
15.08 Property   WAG Camden                            
15.09 Property   WAG Poplar Bluff                            
16 Loan 60 44 Whippany Fee 0.01186% 3.54814% 78,956.60 947,479.20     Interest Only Actual/360 0 120 120 120 120 0
17 Loan 8, 61, 62, 63 Cambridge Crossing 0.01186% 2.68614% 56,989.00 683,868.00 615,481.25 7,385,775.00 Interest Only - ARD Actual/360 0 120 120 120 120 0
18 Loan 64 InCommercial Net Lease Portfolio 0.01186% 3.64814% 101,910.23 1,222,922.76     Interest Only, Then Amortizing Actual/360 0 13 13 121 121 360
18.01 Property   Walgreens - Grenada, MS                            
18.02 Property   Walgreens - Bastrop, LA                            
18.03 Property   Fresenius - Alexandria, LA                            
18.04 Property   Fresenius - Marksville, LA                            
18.05 Property   Dollar General - Otterbein, IN                            
18.06 Property   Dollar General - Chassell, MI                            
18.07 Property   Dollar General - Noel, MO                            
18.08 Property   Dollar General - El Dorado Springs, MO                            
18.09 Property   Dollar General - Montgomery City, MO                            
18.10 Property   Dollar General - Cambridge, MN                            
18.11 Property   Dollar General - Bemidji, MN                            
18.12 Property   Dollar General - Kingman, IN                            
18.13 Property   Dollar General - St Clair, MO                            
18.14 Property   Dollar General - Greenview, IL                            
18.15 Property   Dollar General - Warrensburg, IL                            
18.16 Property   Dollar General - Fairbank, IA                            
18.17 Property   Dollar General - St Charles, IA                            
18.18 Property   Dollar General - Pelican Rapids, MN                            
18.19 Property   Dollar General - Eolia, MO                            
19 Loan 65, 88 Best Western Plus Carriage Inn 0.01186% 3.34814% 58,197.22 698,366.64     Interest Only Actual/360 8 120 112 120 112 0
20 Loan 8, 37, 66, 67 JW Marriott Nashville 0.01186% 3.12714% 53,043.29 636,519.48 437,607.12 5,251,285.44 Interest Only Actual/360 8 120 112 120 112 0
21 Loan 8, 68, 69, 70 White Oak Crossing 0.01186% 3.53214% 90,300.88 1,083,610.56 195,840.04 2,350,080.48 Interest Only, Then Amortizing Actual/360 11 48 37 120 109 360
22 Loan 8, 71, 72, 73 Willoughby Commons 0.02186% 4.01614% 95,921.73 1,151,060.76 81,293.66 975,523.92 Interest Only, Then Amortizing Actual/360 10 48 38 120 110 360
23 Loan 8, 74 The Hub 0.01186% 3.48114% 56,681.58 680,178.96 73,781.54 885,378.48 Interest Only Actual/360 1 120 119 120 119 0
24 Loan 75, 76 SVEA Texas Portfolio 0.01186% 3.99614% 80,958.71 971,504.52     Amortizing, Then Interest Only Actual/360 0 60 60 120 120 300
24.01 Property   4200 Jimmy Johnson Boulevard                            
24.02 Property   2220 Forum Drive                            
24.03 Property   4626 East Southcross Boulevard                            
24.04 Property   1919 Austin Avenue                            
24.05 Property   1470 Highway 44                            
24.06 Property   4602 East Southcross Boulevard                            
24.07 Property   2412 East Richardson Road                            
24.08 Property   11811 North D Street                            
25 Loan 77 Miramar Tech Center 0.01186% 3.56814% 41,015.86 492,190.32     Interest Only Actual/360 0 120 120 120 120 0
26 Loan 78, 79 10 Railroad Avenue 0.01186% 3.87814% 57,379.43 688,553.16     Interest Only, Then Amortizing Actual/360 0 37 37 121 121 360

 

A-1-5

 

 

BMARK 2020-B21 Annex A-1

                                   
Control Number Loan / Property Flag Footnotes Property Name Administrative Cost Rate (%) (1) Net Mortgage Loan Rate (%) Monthly Debt Service ($) (2) Annual Debt Service ($) Pari Passu Companion Loan Monthly Debt Service ($) Pari Passu Companion Loan Annual Debt Service ($) Amortization Type Interest Accrual Method Seasoning Original Interest-Only Period (Mos.) Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity / ARD (Mos.) Original Amortization Term (Mos.)
27 Loan 80, 81 Dearborn Flex Portfolio 0.01186% 3.64814% 47,634.44 571,613.28     Interest Only, Then Amortizing Actual/360 0 12 12 120 120 360
27.01 Property   5850 Mercury Drive                            
27.02 Property   15041 South Commerce Drive                            
28 Loan 44, 82 3100 Research Boulevard 0.01186% 3.59014% 45,475.77 545,709.24     Interest Only, Then Amortizing Actual/360 0 61 61 121 121 360
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 0.01186% 3.69814% 29,622.03 355,464.36     Interest Only Actual/360 0 120 120 120 120 0
30 Loan 84 156 West 54th and 159 West 53rd Street 0.01186% 4.59814% 32,133.94 385,607.28     Interest Only Actual/360 0 61 61 61 61 0
31 Loan 84 212 East 47th Street 0.01186% 4.59814% 31,219.65 374,635.80     Interest Only Actual/360 0 61 61 61 61 0
32 Loan 85 Park Plaza Business Park 0.01186% 3.93814% 33,217.61 398,611.32     Amortizing Actual/360 0 1 1 121 121 360
33 Loan 86 Franz Road Industrial 0.01186% 3.84814% 25,815.87 309,790.44     Interest Only, Then Amortizing Actual/360 0 12 12 120 120 360
34 Loan   BJ’s Olean 0.01186% 4.30814% 25,893.63 310,723.56     Amortizing Actual/360 0 0 0 120 120 360
35 Loan   Rite Aid - Yucca Valley 0.01186% 3.92814% 21,328.32 255,939.84     Interest Only, Then Amortizing Actual/360 0 60 60 120 120 360
36 Loan 78, 87 Omaha Sitel 0.02186% 4.16114% 20,253.06 243,036.72     Interest Only, Then Amortizing Actual/360 0 37 37 121 121 360
37 Loan   CityLine Buffalo Storage 0.01186% 3.89814% 17,945.17 215,342.04     Interest Only, Then Amortizing Actual/360 0 36 36 120 120 360
38 Loan   CityLine Loveland CO 0.01186% 3.98814% 12,890.21 154,682.52     Interest Only, Then Amortizing Actual/360 0 24 24 120 120 360
39 Loan 84 455 Central Park West 0.01186% 4.59814% 7,730.58 92,766.96     Interest Only Actual/360 0 61 61 61 61 0

 

A-1-6

 

 

BMARK 2020-B21 Annex A-1
                                 
Control Number Loan / Property Flag Footnotes Property Name Remaining Amortization Term (Mos.) Origination Date Due Date First Due Date Last IO Due Date First P&I Due Date Maturity Date / ARD ARD (Yes / No) Final Maturity Date Grace Period- Late Fee Grace Period- Default Prepayment Provision (3) 2017 EGI ($)
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 0 11/17/2020 6 12/6/2020 12/6/2030   12/6/2030 No   0 0 Lockout/24_Defeasance or >YM or 1%/90_0%/7 113,255,664
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 0 11/13/2020 11 12/11/2020 12/11/2030   12/11/2030 No   0 0 YM/24_Defeasance or YM/90_0%/7 35,020,952
3 Loan 20 Amazon West LA 0 10/22/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
4 Loan 8, 21 32-42 Broadway 0 11/3/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 21,214,177
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 0 2/14/2020 5 4/5/2020 3/5/2030   3/5/2030 Yes 3/5/2032 0 0 >YM or 0.5%/32_Defeasance or >YM or 0.5%/81_0%/7 2,161,960,165
5.01 Property   MGM Grand                         1,179,680,639
5.02 Property   Mandalay Bay                         982,279,526
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 0 10/30/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/91_0%/5 N/A
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 0 3/6/2020 6 4/6/2020 3/6/2030   3/6/2030 No   0 0 Lockout/32_Defeasance/81_0%/7 62,723,555
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 360 10/8/2020 6 12/6/2020 11/6/2025 12/6/2025 11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
9 Loan 43 One Commerce Square 360 10/28/2020 6 12/6/2020   12/6/2020 11/6/2030 No   0 0 Lockout/24_Defeasance/90_0%/6 N/A
10 Loan 44, 45, 46 Tower at Frisco Square 360 11/10/2020 6 12/6/2020 12/6/2025 1/6/2026 12/6/2030 No   0 0 Lockout/24_>YM or 1%/94_0%/3 4,534,731
11 Loan 47 The Standard 360 10/23/2020 1 12/1/2020 11/1/2022 12/1/2022 11/1/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 3,450,265
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 0 12/3/2019 1 2/1/2020 1/1/2030   1/1/2030 No   5 0 Lockout/34_>YM or 1%/81_0%/5 64,923,243
13 Loan 8, 55, 56 4 West 58th Street 0 2/28/2020 1 4/1/2020 3/1/2030   3/1/2030 No   1 0 Lockout/32_Defeasance/82_0%/6 4,905,078
14 Loan 8, 57, 58, 59 Redmond Town Center 360 2/21/2020 6 4/6/2020 3/6/2022 4/6/2022 3/6/2025 No   0 0 Lockout/32_Defeasance/24_0%/4 12,572,296
15 Loan   Walgreens 9 Portfolio 0 10/1/2020 1 11/1/2020 10/1/2030   10/1/2030 No   5 5 Lockout/25_Defeasance/90_0%/5 N/A
15.01 Property   WAG Buffalo Grove                         N/A
15.02 Property   WAG Nashville                         N/A
15.03 Property   WAG Irmo                         N/A
15.04 Property   WAG Sherman                         N/A
15.05 Property   WAG Cleveland                         N/A
15.06 Property   WAG Saginaw                         N/A
15.07 Property   WAG Alice                         N/A
15.08 Property   WAG Camden                         N/A
15.09 Property   WAG Poplar Bluff                         N/A
16 Loan 60 44 Whippany Fee 0 10/30/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/93_0%/3 N/A
17 Loan 8, 61, 62, 63 Cambridge Crossing 0 10/16/2020 6 12/6/2020 11/6/2030   11/6/2030 Yes 11/6/2034 0 0 Lockout/24_Defeasance or >YM or 1%/89_0%/7 N/A
18 Loan 64 InCommercial Net Lease Portfolio 360 11/10/2020 6 12/6/2020 12/6/2021 1/6/2022 12/6/2030 No   0 0 Lockout/24_>YM or 1%/93_0%/4 N/A
18.01 Property   Walgreens - Grenada, MS                         N/A
18.02 Property   Walgreens - Bastrop, LA                         N/A
18.03 Property   Fresenius - Alexandria, LA                         N/A
18.04 Property   Fresenius - Marksville, LA                         N/A
18.05 Property   Dollar General - Otterbein, IN                         N/A
18.06 Property   Dollar General - Chassell, MI                         N/A
18.07 Property   Dollar General - Noel, MO                         N/A
18.08 Property   Dollar General - El Dorado Springs, MO                         N/A
18.09 Property   Dollar General - Montgomery City, MO                         N/A
18.10 Property   Dollar General - Cambridge, MN                         N/A
18.11 Property   Dollar General - Bemidji, MN                         N/A
18.12 Property   Dollar General - Kingman, IN                         N/A
18.13 Property   Dollar General - St Clair, MO                         N/A
18.14 Property   Dollar General - Greenview, IL                         N/A
18.15 Property   Dollar General - Warrensburg, IL                         N/A
18.16 Property   Dollar General - Fairbank, IA                         N/A
18.17 Property   Dollar General - St Charles, IA                         N/A
18.18 Property   Dollar General - Pelican Rapids, MN                         N/A
18.19 Property   Dollar General - Eolia, MO                         N/A
19 Loan 65, 88 Best Western Plus Carriage Inn 0 2/21/2020 6 4/6/2020 3/6/2030   3/6/2030 No   0 0 Lockout/24_>YM or 1%/89_0%/7 7,757,757
20 Loan 8, 37, 66, 67 JW Marriott Nashville 0 3/6/2020 6 4/6/2020 3/6/2030   3/6/2030 No   0 0 Lockout/32_Defeasance/81_0%/7 N/A
21 Loan 8, 68, 69, 70 White Oak Crossing 360 11/14/2019 6 1/6/2020 12/6/2023 1/6/2024 12/6/2029 No   0 0 Lockout/35_Defeasance/80_0%/5 8,380,001
22 Loan 8, 71, 72, 73 Willoughby Commons 360 12/20/2019 6 2/6/2020 1/6/2024 2/6/2024 1/6/2030 No   0 0 Lockout/34_Defeasance/81_0%/5 4,700,619
23 Loan 8, 74 The Hub 0 9/30/2020 6 11/6/2020 10/6/2030   10/6/2030 No   0 0 Lockout/25_Defeasance/91_0%/4 6,067,594
24 Loan 75, 76 SVEA Texas Portfolio 300 11/5/2020 6 12/6/2020 11/6/2030 12/6/2020 11/6/2030 No   0 0 Lockout/24_Defeasance/91_0%/5 N/A
24.01 Property   4200 Jimmy Johnson Boulevard                         N/A
24.02 Property   2220 Forum Drive                         N/A
24.03 Property   4626 East Southcross Boulevard                         N/A
24.04 Property   1919 Austin Avenue                         N/A
24.05 Property   1470 Highway 44                         N/A
24.06 Property   4602 East Southcross Boulevard                         N/A
24.07 Property   2412 East Richardson Road                         N/A
24.08 Property   11811 North D Street                         N/A
25 Loan 77 Miramar Tech Center 0 10/22/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
26 Loan 78, 79 10 Railroad Avenue 360 11/13/2020 1 12/1/2020 12/1/2023 1/1/2024 12/1/2030 No   0 0 Lockout/24_Defeasance/94_0%/3 N/A

 

A-1-7

 

 

BMARK 2020-B21 Annex A-1

                                 
Control Number Loan / Property Flag Footnotes Property Name Remaining Amortization Term (Mos.) Origination Date Due Date First Due Date Last IO Due Date First P&I Due Date Maturity Date / ARD ARD (Yes / No) Final Maturity Date Grace Period- Late Fee Grace Period- Default Prepayment Provision (3) 2017 EGI ($)
27 Loan 80, 81 Dearborn Flex Portfolio 360 10/29/2020 6 12/6/2020 11/6/2021 12/6/2021 11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
27.01 Property   5850 Mercury Drive                         N/A
27.02 Property   15041 South Commerce Drive                         N/A
28 Loan 44, 82 3100 Research Boulevard 360 11/2/2020 1 12/1/2020 12/1/2025 1/1/2026 12/1/2030 No   0 5 days grace, once per trailing 12-month period Lockout/24_Defeasance/93_0%/4 3,029,160
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 0 10/20/2020 6 12/6/2020 11/6/2030   11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 1,218,365
30 Loan 84 156 West 54th and 159 West 53rd Street 0 11/10/2020 6 12/6/2020 12/6/2025   12/6/2025 No   0 0 Lockout/24_Defeasance/34_0%/3 N/A
31 Loan 84 212 East 47th Street 0 11/10/2020 6 12/6/2020 12/6/2025   12/6/2025 No   0 0 Lockout/24_Defeasance/34_0%/3 N/A
32 Loan 85 Park Plaza Business Park 360 11/9/2020 1 12/1/2020 12/1/2020 1/1/2021 12/1/2030 No   5 days grace, once per 12-month period 0 Lockout/24_Defeasance/94_0%/3 N/A
33 Loan 86 Franz Road Industrial 360 11/6/2020 6 12/6/2020 11/6/2021 12/6/2021 11/6/2030 No   0 0 Lockout/36_>YM or 1%/79_0%/5 N/A
34 Loan   BJ’s Olean 360 10/16/2020 1 12/1/2020   12/1/2020 11/1/2030 No   0 5 days grace, once per trailing 12-month period Lockout/24_Defeasance/93_0%/3 N/A
35 Loan   Rite Aid - Yucca Valley 360 10/30/2020 6 12/6/2020 11/6/2025 12/6/2025 11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
36 Loan 78, 87 Omaha Sitel 360 11/13/2020 1 12/1/2020 12/1/2023 1/1/2024 12/1/2030 No   0 0 Lockout/24_Defeasance/94_0%/3 N/A
37 Loan   CityLine Buffalo Storage 360 10/20/2020 6 12/6/2020 11/6/2023 12/6/2023 11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
38 Loan   CityLine Loveland CO 360 10/15/2020 6 12/6/2020 11/6/2022 12/6/2022 11/6/2030 No   0 0 Lockout/24_Defeasance/92_0%/4 N/A
39 Loan 84 455 Central Park West 0 11/10/2020 6 12/6/2020 12/6/2025   12/6/2025 No   0 0 Lockout/24_Defeasance/34_0%/3 N/A

 

A-1-8

 

 

BMARK 2020-B21 Annex A-1
                                 
Control Number Loan / Property Flag Footnotes Property Name 2017 Expenses ($) 2017 NOI ($) 2018 EGI ($) 2018 Expenses ($) 2018 NOI ($) 2019 EGI ($) 2019 Expenses ($) 2019 NOI ($) Most Recent EGI (if past 2019) ($) Most Recent Expenses (if past 2019) ($) Most Recent NOI (if past 2019) ($) Most Recent NOI Date (if past 2019) Most Recent # of months
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 46,095,990 67,159,674 122,739,552 49,532,888 73,206,665 102,917,243 50,379,050 52,538,193 97,004,029 50,731,490 46,272,539 9/30/2020 12
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 13,375,743 21,645,209 39,655,018 14,730,525 24,924,493 42,772,659 15,192,749 27,579,910 46,135,523 16,541,707 29,593,816 9/30/2020 12
3 Loan 20 Amazon West LA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
4 Loan 8, 21 32-42 Broadway 10,436,824 10,777,353 22,313,427 10,791,578 11,521,849 23,020,311 11,125,485 11,894,826 23,543,821 10,777,257 12,766,564 6/30/2020 12
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 1,556,922,957 605,037,208 2,191,540,530 1,574,171,264 617,369,266 2,106,295,488 1,586,215,135 520,080,353 1,542,534,742 1,161,377,839 381,156,903 6/30/2020 12
5.01 Property   MGM Grand 834,995,842 344,684,797 1,226,105,346 854,539,115 371,566,231 1,161,850,748 879,242,083 282,608,665 874,139,277 653,818,258 220,321,020 6/30/2020 12
5.02 Property   Mandalay Bay 721,927,115 260,352,411 965,435,184 719,632,149 245,803,035 944,444,740 706,973,052 237,471,688 668,395,465 507,559,582 160,835,883 6/30/2020 12
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue N/A N/A N/A N/A N/A N/A N/A N/A 17,798,150 7,724,535 10,073,615 6/30/2020 6
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 17,358,037 45,365,518 63,038,695 18,950,129 44,088,566 69,563,590 20,967,241 48,596,349 69,060,254 21,771,999 47,288,255 3/31/2020 12
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive N/A N/A 6,683,234 2,742,015 3,941,219 5,811,449 3,011,704 2,799,745 5,354,406 2,867,737 2,486,669 6/30/2020 12
9 Loan 43 One Commerce Square N/A N/A N/A N/A N/A 6,998,150 3,628,475 3,369,676 7,485,801 3,829,541 3,656,260 9/30/2020 12
10 Loan 44, 45, 46 Tower at Frisco Square 1,813,727 2,721,004 4,355,265 1,842,323 2,512,942 4,448,359 2,009,194 2,439,165 4,963,067 1,898,432 3,064,634 9/30/2020 12
11 Loan 47 The Standard 1,394,579 2,055,686 3,795,182 1,469,670 2,325,513 4,667,651 1,549,152 3,118,499 5,365,377 1,495,408 3,869,968 8/31/2020 12
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 25,486,495 39,436,748 69,684,148 27,595,961 42,088,187 79,062,917 29,497,775 49,565,143 82,287,609 31,518,903 50,768,706 8/31/2020 12
13 Loan 8, 55, 56 4 West 58th Street 1,996,939 2,908,139 4,877,497 1,903,193 2,974,304 5,628,265 2,057,287 3,570,977 7,897,694 3,378,556 4,519,138 6/30/2020 12
14 Loan 8, 57, 58, 59 Redmond Town Center 3,843,706 8,728,590 12,945,809 3,914,837 9,030,971 N/A N/A N/A 13,766,778 4,065,369 9,701,409 11/30/2019 12
15 Loan   Walgreens 9 Portfolio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.01 Property   WAG Buffalo Grove N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.02 Property   WAG Nashville N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.03 Property   WAG Irmo N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.04 Property   WAG Sherman N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.05 Property   WAG Cleveland N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.06 Property   WAG Saginaw N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.07 Property   WAG Alice N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.08 Property   WAG Camden N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15.09 Property   WAG Poplar Bluff N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
16 Loan 60 44 Whippany Fee N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
17 Loan 8, 61, 62, 63 Cambridge Crossing N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18 Loan 64 InCommercial Net Lease Portfolio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.01 Property   Walgreens - Grenada, MS N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.02 Property   Walgreens - Bastrop, LA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.03 Property   Fresenius - Alexandria, LA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.04 Property   Fresenius - Marksville, LA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.05 Property   Dollar General - Otterbein, IN N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.06 Property   Dollar General - Chassell, MI N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.07 Property   Dollar General - Noel, MO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.08 Property   Dollar General - El Dorado Springs, MO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.09 Property   Dollar General - Montgomery City, MO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.10 Property   Dollar General - Cambridge, MN N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.11 Property   Dollar General - Bemidji, MN N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.12 Property   Dollar General - Kingman, IN N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.13 Property   Dollar General - St Clair, MO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.14 Property   Dollar General - Greenview, IL N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.15 Property   Dollar General - Warrensburg, IL N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.16 Property   Dollar General - Fairbank, IA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.17 Property   Dollar General - St Charles, IA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.18 Property   Dollar General - Pelican Rapids, MN N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18.19 Property   Dollar General - Eolia, MO N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
19 Loan 65, 88 Best Western Plus Carriage Inn 4,703,645 3,054,112 7,886,648 4,825,982 3,060,666 7,788,650 4,950,468 2,838,182 5,884,407 4,365,457 1,518,950 7/31/2020 12
20 Loan 8, 37, 66, 67 JW Marriott Nashville N/A N/A N/A N/A N/A 93,677,197 65,123,527 28,553,670 48,245,221 40,461,820 7,783,401 9/30/2020 12
21 Loan 8, 68, 69, 70 White Oak Crossing 1,662,835 6,717,167 8,528,386 1,741,540 6,786,847 8,639,220 1,625,210 7,014,010 8,333,797 1,470,557 6,863,240 9/30/2020 10
22 Loan 8, 71, 72, 73 Willoughby Commons 1,259,309 3,441,310 4,806,432 1,218,102 3,588,330 N/A N/A N/A 4,230,476 1,041,512 3,188,964 9/30/2020 12
23 Loan 8, 74 The Hub 1,396,735 4,670,859 6,335,576 1,664,562 4,671,014 6,586,524 1,589,768 4,996,756 6,433,784 1,515,574 4,918,210 7/31/2020 12
24 Loan 75, 76 SVEA Texas Portfolio N/A N/A 2,016,748 386,842 1,629,905 2,275,686 506,649 1,769,037 N/A N/A N/A N/A N/A
24.01 Property   4200 Jimmy Johnson Boulevard N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.02 Property   2220 Forum Drive N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.03 Property   4626 East Southcross Boulevard N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.04 Property   1919 Austin Avenue N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.05 Property   1470 Highway 44 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.06 Property   4602 East Southcross Boulevard N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.07 Property   2412 East Richardson Road N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
24.08 Property   11811 North D Street N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
25 Loan 77 Miramar Tech Center N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
26 Loan 78, 79 10 Railroad Avenue N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

 

A-1-9

 

 

BMARK 2020-B21 Annex A-1

                                 
Control Number Loan / Property Flag Footnotes Property Name 2017 Expenses ($) 2017 NOI ($) 2018 EGI ($) 2018 Expenses ($) 2018 NOI ($) 2019 EGI ($) 2019 Expenses ($) 2019 NOI ($) Most Recent EGI (if past 2019) ($) Most Recent Expenses (if past 2019) ($) Most Recent NOI (if past 2019) ($) Most Recent NOI Date (if past 2019) Most Recent # of months
27 Loan 80, 81 Dearborn Flex Portfolio N/A N/A N/A N/A N/A N/A N/A N/A 1,065,503 893,867 171,636 8/31/2020 12
27.01 Property   5850 Mercury Drive N/A N/A N/A N/A N/A N/A N/A N/A 582,130 477,752 104,378 8/31/2020 12
27.02 Property   15041 South Commerce Drive N/A N/A N/A N/A N/A N/A N/A N/A 483,373 416,115 67,257 8/31/2020 12
28 Loan 44, 82 3100 Research Boulevard 1,750,091 1,279,069 3,102,372 1,705,296 1,397,076 3,084,876 1,682,085 1,402,791 3,167,414 1,602,209 1,565,205 9/30/2020 12
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 409,675 808,690 1,602,023 728,555 873,467 1,391,388 497,985 893,403 1,350,207 525,804 824,403 8/31/2020 12
30 Loan 84 156 West 54th and 159 West 53rd Street N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
31 Loan 84 212 East 47th Street N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
32 Loan 85 Park Plaza Business Park N/A N/A N/A N/A N/A N/A N/A N/A 1,435,408 488,090 947,318 9/30/2020 12
33 Loan 86 Franz Road Industrial N/A N/A N/A N/A N/A 505,634 163,573 342,061 595,924 171,754 424,170 8/31/2020 12
34 Loan   BJ’s Olean N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
35 Loan   Rite Aid - Yucca Valley N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
36 Loan 78, 87 Omaha Sitel N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
37 Loan   CityLine Buffalo Storage N/A N/A 422,800 124,154 298,646 460,153 121,496 338,657 470,683 118,793 351,890 8/31/2020 12
38 Loan   CityLine Loveland CO N/A N/A 381,839 135,266 246,573 382,922 178,654 204,268 405,051 187,117 217,935 8/31/2020 12
39 Loan 84 455 Central Park West N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

 

A-1-10

 

 

BMARK 2020-B21 Annex A-1
                               
Control Number Loan / Property Flag Footnotes Property Name Most Recent Description Underwritten EGI ($) Underwritten Expenses ($) Underwritten Net Operating Income ($) Debt Yield on Underwritten Net Operating Income (%) Underwritten Replacement / FF&E Reserve ($) Underwritten TI / LC ($) Underwritten Net Cash Flow ($) Underwritten NCF DSCR (x) (4) Debt Yield on Underwritten Net Cash Flow (%) Appraised Value ($) Appraisal Date
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building Trailing 12 157,612,989 53,319,272 104,293,717 11.8% 389,243 1,556,972 102,347,502 4.25 11.6% 2,150,000,000 9/8/2020
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park Trailing 12 52,666,380 15,037,967 37,628,413 10.5% 1,038,823 1,731,371 34,858,219 2.90 9.7% 595,000,000 9/15/2020
3 Loan 20 Amazon West LA Not Available 12,003,810 2,565,017 9,438,793 12.6% 12,834 50,277 9,375,682 4.45 12.5% 256,100,000 7/6/2020
4 Loan 8, 21 32-42 Broadway Trailing 12 23,169,206 10,872,817 12,296,389 9.8% 365,101 979,245 10,952,043 2.66 8.8% 243,000,000 8/28/2020
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay Trailing 12 2,106,295,488 1,586,215,135 520,080,353 17.9% 32,774,592 0 487,305,761 4.95 17.9% 4,600,000,000 1/10/2020
5.01 Property   MGM Grand Trailing 12 1,161,850,748 879,242,083 282,608,665   16,011,953 0 266,596,712     2,505,000,000 1/10/2020
5.02 Property   Mandalay Bay Trailing 12 944,444,740 706,973,052 237,471,688   16,762,639 0 220,709,049     2,095,000,000 1/10/2020
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue Annualized 29,208,373 7,241,027 21,967,346 10.1% 217,074 18,827 21,731,445 2.95 10.0% 669,800,000 9/8/2020
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue Trailing 12 74,193,553 22,888,769 51,304,783 9.4% 85,006 544,350 50,675,427 2.90 9.3% 1,000,000,000 1/23/2020
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive Trailing 12 8,239,928 2,903,812 5,336,116 10.2% 55,940 366,694 4,913,482 1.78 9.4% 90,000,000 9/1/2021
9 Loan 43 One Commerce Square Trailing 12 7,729,609 3,971,258 3,758,352 11.4% 78,288 354,116 3,325,947 1.83 10.1% 45,700,000 9/4/2020
10 Loan 44, 45, 46 Tower at Frisco Square Trailing 12 5,327,400 2,012,936 3,314,464 10.4% 34,216 374,693 2,905,556 1.66 9.1% 49,300,000 10/21/2020
11 Loan 47 The Standard Trailing 12 5,206,252 1,522,816 3,683,436 11.9% (43,108) 262,344 3,464,200 2.03 11.2% 46,500,000 10/5/2020
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza Trailing 12 81,045,187 29,004,262 52,040,925 10.7% 139,559 995,395 50,905,970 3.07 10.5% 900,000,000 10/17/2019
13 Loan 8, 55, 56 4 West 58th Street Trailing 12 11,943,386 2,701,328 9,242,058 7.4% 15,037 167,074 9,059,948 1.94 7.2% 180,000,000 2/1/2020
14 Loan 8, 57, 58, 59 Redmond Town Center Trailing 12 15,096,303 4,207,821 10,888,482 10.7% 57,962 637,089 10,193,431 1.79 10.0% 151,000,000 8/4/2020
15 Loan   Walgreens 9 Portfolio Not Available 3,357,649 776,324 2,581,324 8.6% 19,992 0 2,561,332 2.40 8.5% 50,350,000 Various
15.01 Property   WAG Buffalo Grove Not Available 548,391 188,585 359,807   2,250 0 357,557     7,200,000 5/19/2020
15.02 Property   WAG Nashville Not Available 387,266 82,785 304,481   2,370 0 302,111     6,000,000 5/20/2020
15.03 Property   WAG Irmo Not Available 414,582 131,670 282,912   2,226 0 280,686     5,600,000 5/27/2020
15.04 Property   WAG Sherman Not Available 348,768 62,539 286,229   2,211 0 284,018     5,400,000 5/30/2020
15.05 Property   WAG Cleveland Not Available 343,027 56,509 286,519   2,205 0 284,314     5,400,000 5/20/2020
15.06 Property   WAG Saginaw Not Available 322,760 53,978 268,783   2,076 0 266,707     5,300,000 5/20/2020
15.07 Property   WAG Alice Not Available 344,003 57,534 286,469   2,216 0 284,253     5,650,000 5/21/2020
15.08 Property   WAG Camden Not Available 351,622 95,918 255,704   2,226 0 253,479     5,100,000 5/27/2020
15.09 Property   WAG Poplar Bluff Not Available 297,228 46,808 250,421   2,212 0 248,208     4,700,000 5/22/2020
16 Loan 60 44 Whippany Fee Not Available 1,751,047 N/A 1,751,047 6.7% 0 0 1,751,047 1.85 6.7% 35,000,000 9/25/2020
17 Loan 8, 61, 62, 63 Cambridge Crossing Not Available 46,678,033 13,760,711 32,917,322 11.2% 85,374 110,178 32,721,770 4.05 11.1% 729,000,000 9/28/2020
18 Loan 64 InCommercial Net Lease Portfolio Not Available 2,316,414 66,489 2,249,925 10.1% 27,353 0 2,222,572 1.82 10.0% 35,275,000 Various
18.01 Property   Walgreens - Grenada, MS Not Available 333,576 10,365 323,211   2,183 0 321,029     5,000,000 10/3/2020
18.02 Property   Walgreens - Bastrop, LA Not Available 249,381 8,636 240,745   2,223 0 238,522     3,730,000 9/24/2020
18.03 Property   Fresenius - Alexandria, LA Not Available 221,341 7,758 213,584   1,108 0 212,476     3,450,000 9/28/2020
18.04 Property   Fresenius - Marksville, LA Not Available 185,006 6,685 178,321   995 0 177,326     2,850,000 9/28/2020
18.05 Property   Dollar General - Otterbein, IN Not Available 93,708 2,314 91,393   1,354 0 90,039     1,490,000 9/21/2020
18.06 Property   Dollar General - Chassell, MI Not Available 97,551 2,395 95,156   1,365 0 93,791     1,470,000 9/24/2020
18.07 Property   Dollar General - Noel, MO Not Available 94,507 2,331 92,176   1,596 0 90,580     1,425,000 10/1/2020
18.08 Property   Dollar General - El Dorado Springs, MO Not Available 92,977 2,299 90,679   1,596 0 89,083     1,400,000 10/1/2020
18.09 Property   Dollar General - Montgomery City, MO Not Available 92,525 2,289 90,237   1,585 0 88,652     1,390,000 9/23/2020
18.10 Property   Dollar General - Cambridge, MN Not Available 92,021 2,278 89,742   1,365 0 88,377     1,380,000 9/27/2020
18.11 Property   Dollar General - Bemidji, MN Not Available 88,731 2,209 86,523   1,354 0 85,169     1,380,000 10/2/2020
18.12 Property   Dollar General - Kingman, IN Not Available 84,783 2,125 82,658   1,354 0 81,304     1,340,000 9/21/2020
18.13 Property   Dollar General - St Clair, MO Not Available 88,535 2,205 86,330   1,365 0 84,965     1,330,000 10/1/2020
18.14 Property   Dollar General - Greenview, IL Not Available 85,308 2,136 83,172   1,354 0 81,818     1,330,000 9/25/2020
18.15 Property   Dollar General - Warrensburg, IL Not Available 83,718 2,102 81,616   1,350 0 80,266     1,310,000 9/25/2020
18.16 Property   Dollar General - Fairbank, IA Not Available 84,103 2,110 81,993   1,365 0 80,628     1,260,000 10/1/2020
18.17 Property   Dollar General - St Charles, IA Not Available 83,877 2,106 81,771   1,354 0 80,417     1,260,000 10/1/2020
18.18 Property   Dollar General - Pelican Rapids, MN Not Available 83,494 2,098 81,396   1,123 0 80,272     1,260,000 10/2/2020
18.19 Property   Dollar General - Eolia, MO Not Available 81,272 2,050 79,222   1,365 0 77,857     1,220,000 9/23/2020
19 Loan 65, 88 Best Western Plus Carriage Inn Trailing 12 7,776,846 5,093,429 2,683,417 13.1% 311,074 0 2,372,343 3.40 11.6% 36,500,000 12/17/2019
20 Loan 8, 37, 66, 67 JW Marriott Nashville Trailing 12 94,449,843 66,104,698 28,345,145 15.3% 3,777,994 0 24,567,151 4.17 13.3% 301,000,000 11/10/2020
21 Loan 8, 68, 69, 70 White Oak Crossing Annualized 8,072,109 1,699,717 6,372,392 10.1% 163,641 192,065 6,016,686 1.75 9.5% 86,750,000 10/7/2019
22 Loan 8, 71, 72, 73 Willoughby Commons Trailing 12 5,143,774 1,681,913 3,461,862 9.4% 62,205 105,998 3,293,659 1.55 8.9% 51,700,000 11/22/2019
23 Loan 8, 74 The Hub Trailing 12 6,511,632 1,586,584 4,925,048 11.1% 34,427 131,936 4,758,685 3.04 10.8% 80,800,000 9/1/2020
24 Loan 75, 76 SVEA Texas Portfolio Not Available 2,346,490 575,098 1,771,392 11.6% 29,811 51,274 1,690,307 1.74 11.0% 23,100,000 Various
24.01 Property   4200 Jimmy Johnson Boulevard Not Available N/A N/A N/A   N/A N/A N/A     4,890,000 9/17/2020
24.02 Property   2220 Forum Drive Not Available N/A N/A N/A   N/A N/A N/A     4,600,000 9/19/2020
24.03 Property   4626 East Southcross Boulevard Not Available N/A N/A N/A   N/A N/A N/A     3,800,000 9/15/2020
24.04 Property   1919 Austin Avenue Not Available N/A N/A N/A   N/A N/A N/A     2,880,000 9/21/2020
24.05 Property   1470 Highway 44 Not Available N/A N/A N/A   N/A N/A N/A     2,540,000 9/21/2020
24.06 Property   4602 East Southcross Boulevard Not Available N/A N/A N/A   N/A N/A N/A     2,400,000 9/15/2020
24.07 Property   2412 East Richardson Road Not Available N/A N/A N/A   N/A N/A N/A     1,340,000 9/21/2020
24.08 Property   11811 North D Street Not Available N/A N/A N/A   N/A N/A N/A     650,000 9/17/2020
25 Loan 77 Miramar Tech Center Not Available 2,158,303 755,337 1,402,966 10.3% 11,342 84,002 1,307,622 2.66 9.6% 23,000,000 9/18/2020
26 Loan 78, 79 10 Railroad Avenue Not Available 1,684,428 499,992 1,184,436 9.7% 14,380 50,844 1,119,212 1.63 9.2% 18,800,000 9/23/2020

 

A-1-11

 

 

BMARK 2020-B21 Annex A-1

                               
Control Number Loan / Property Flag Footnotes Property Name Most Recent Description Underwritten EGI ($) Underwritten Expenses ($) Underwritten Net Operating Income ($) Debt Yield on Underwritten Net Operating Income (%) Underwritten Replacement / FF&E Reserve ($) Underwritten TI / LC ($) Underwritten Net Cash Flow ($) Underwritten NCF DSCR (x) (4) Debt Yield on Underwritten Net Cash Flow (%) Appraised Value ($) Appraisal Date
27 Loan 80, 81 Dearborn Flex Portfolio Trailing 12 2,497,180 1,103,962 1,393,218 13.4% 32,640 97,832 1,262,746 2.21 12.1% 17,750,000 Various
27.01 Property   5850 Mercury Drive Trailing 12 1,317,882 594,490 723,391   27,715 51,272 644,404     9,750,000 11/30/2020
27.02 Property   15041 South Commerce Drive Trailing 12 1,179,298 509,472 669,826   4,925 46,560 618,342     8,000,000 9/30/2020
28 Loan 44, 82 3100 Research Boulevard Trailing 12 3,255,780 1,681,946 1,573,833 15.7% 55,402 221,610 1,296,821 2.38 13.0% 15,500,000 8/28/2020
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago Trailing 12 1,587,396 665,334 922,062 9.8% 8,418 27,813 885,830 2.49 9.4% 15,900,000 9/10/2020
30 Loan 84 156 West 54th and 159 West 53rd Street Not Available 742,500 N/A 742,500 9.0% 0 0 742,500 1.93 9.0% 15,000,000 10/6/2020
31 Loan 84 212 East 47th Street Not Available 721,374 N/A 721,374 9.0% 0 0 721,374 1.93 9.0% 15,800,000 10/6/2020
32 Loan 85 Park Plaza Business Park Trailing 12 1,560,687 567,640 993,047 14.2% 18,033 120,241 854,773 2.14 12.2% 11,000,000 9/3/2020
33 Loan 86 Franz Road Industrial Trailing 12 717,811 174,341 543,470 9.9% 4,563 44,714 494,193 1.60 9.0% 7,940,000 9/25/2020
34 Loan   BJ’s Olean Not Available 604,037 41,500 562,538 10.8% 7,176 28,704 526,658 1.69 10.1% 7,480,000 9/2/2020
35 Loan   Rite Aid - Yucca Valley Not Available 660,300 162,777 497,523 11.1% 1,803 19,746 475,974 1.86 10.6% 7,470,000 10/8/2020
36 Loan 78, 87 Omaha Sitel Not Available 446,094 13,383 432,712 10.4% 3,577 25,042 404,092 1.66 9.7% 6,340,000 9/22/2020
37 Loan   CityLine Buffalo Storage Trailing 12 470,683 121,755 348,927 9.2% 5,573 0 343,355 1.59 9.0% 5,450,000 9/12/2020
38 Loan   CityLine Loveland CO Trailing 12 405,051 177,595 227,456 8.4% 3,281 0 224,175 1.45 8.3% 3,960,000 10/2/2020
39 Loan 84 455 Central Park West Not Available 178,626 N/A 178,626 9.0% 0 0 178,626 1.93 9.0% 3,900,000 10/6/2020

 

A-1-12

 

 

BMARK 2020-B21 Annex A-1
                               
Control Number Loan / Property Flag Footnotes Property Name As Is Appraised Value ($) As Is Appraisal Date Cut-off Date LTV Ratio (%) LTV Ratio at Maturity / ARD (%) Occupancy (%) (5) Occupancy Date ADR ($) RevPAR ($) Largest Tenant Largest Tenant Sq Ft Largest Tenant Lease Expiration (6) Second Largest Tenant
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 2,150,000,000 9/8/2020 41.1% 41.1% 94.8% 10/19/2020 NAP NAP Bank of America, N.A. 155,270 5/31/2042 The Trade Desk
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 595,000,000 9/15/2020 60.2% 60.2% 86.8% 9/15/2020 NAP NAP Amazon.com 417,637 6/30/2030 Hydra Distribution
3 Loan 20 Amazon West LA 256,100,000 7/6/2020 29.3% 29.3% 100.0% 6/25/2020 NAP NAP Amazon.com 499,633 3/31/2035 Chick-fil-A, Inc.
4 Loan 8, 21 32-42 Broadway 243,000,000 8/28/2020 51.4% 51.4% 90.5% 9/1/2020 NAP NAP City of NY Dept of Consumer Affairs 85,573 7/31/2027 City of NY Board of Elections
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 4,600,000,000 1/10/2020 35.5% 35.5% 87.5%   196.52 180.94        
5.01 Property   MGM Grand 2,505,000,000 1/10/2020     83.9% 6/30/2020 190.29 173.85 NAP     NAP
5.02 Property   Mandalay Bay 2,095,000,000 1/10/2020     91.7% 6/30/2020 202.98 188.40 NAP     NAP
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 669,800,000 9/8/2020 32.4% 32.4% 83.8% 10/26/2020 NAP NAP Sea Wolf 2,300 3/31/2038 Kent Wine & Liquor
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 1,000,000,000 1/23/2020 54.5% 54.5% 76.5% 1/31/2020 NAP NAP SunTrust Banks 84,516 4/30/2024 Allen & Company
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 85,400,000 8/26/2020 58.3% 52.3% 97.9% 7/1/2021 NAP NAP General Dynamics Information Technology 174,124 11/30/2029 Capital Caring Health
9 Loan 43 One Commerce Square 45,700,000 9/4/2020 72.2% 56.7% 83.6% 8/31/2020 NAP NAP State of Tennessee 110,755 9/9/2029 Hnedak Bobo Group, Inc.
10 Loan 44, 45, 46 Tower at Frisco Square 49,300,000 10/21/2020 64.9% 58.5% 94.3% 9/30/2020 NAP NAP Gearbox Software 99,055 3/31/2026 Meritize Financial
11 Loan 47 The Standard 46,500,000 10/5/2020 66.7% 55.6% 100.0% 10/20/2020 NAP NAP TD Auto Finance 154,879 5/27/2025 Centria Healthcare
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 900,000,000 10/17/2019 54.1% 54.1% 96.7% 6/2/2020 NAP NAP Lowe’s Home Centers 114,000 5/31/2028 Primark
13 Loan 8, 55, 56 4 West 58th Street 180,000,000 2/1/2020 69.4% 69.4% 100.0% 10/1/2020 NAP NAP The Neiman Marcus Group LLC. 40,170 2/28/2033 Netflix Inc.
14 Loan 8, 57, 58, 59 Redmond Town Center 151,000,000 8/4/2020 67.2% 63.5% 92.9% 1/15/2020 NAP NAP iPic Theaters 38,858 9/30/2025 Guitar Center
15 Loan   Walgreens 9 Portfolio 50,350,000 Various 59.6% 59.6% 100.0%   NAP NAP        
15.01 Property   WAG Buffalo Grove 7,200,000 5/19/2020     100.0% 11/1/2020 NAP NAP Walgreens 15,000 2/28/2035 NAP
15.02 Property   WAG Nashville 6,000,000 5/20/2020     100.0% 11/1/2020 NAP NAP Walgreens 15,800 2/28/2035 NAP
15.03 Property   WAG Irmo 5,600,000 5/27/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,841 2/28/2035 NAP
15.04 Property   WAG Sherman 5,400,000 5/30/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,739 2/28/2035 NAP
15.05 Property   WAG Cleveland 5,400,000 5/20/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,700 2/28/2035 NAP
15.06 Property   WAG Saginaw 5,300,000 5/20/2020     100.0% 11/1/2020 NAP NAP Walgreens 13,840 2/28/2035 NAP
15.07 Property   WAG Alice 5,650,000 5/21/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,776 2/28/2035 NAP
15.08 Property   WAG Camden 5,100,000 5/27/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,838 2/28/2035 NAP
15.09 Property   WAG Poplar Bluff 4,700,000 5/22/2020     100.0% 11/1/2020 NAP NAP Walgreens 14,749 2/28/2035 NAP
16 Loan 60 44 Whippany Fee 35,000,000 9/25/2020 75.0% 75.0% 100.0% 11/1/2020 NAP NAP NAP     NAP
17 Loan 8, 61, 62, 63 Cambridge Crossing 693,000,000 9/28/2020 40.5% 40.5% 97.8% 10/15/2020 NAP NAP Philips 343,969 11/30/2034 Cerevel Therapeutics, LLC
18 Loan 64 InCommercial Net Lease Portfolio 35,275,000 Various 63.1% 51.1% 100.0%   NAP NAP        
18.01 Property   Walgreens - Grenada, MS 5,000,000 10/3/2020     100.0% 11/6/2020 NAP NAP Walgreens 14,550 8/31/2033 NAP
18.02 Property   Walgreens - Bastrop, LA 3,730,000 9/24/2020     100.0% 11/6/2020 NAP NAP Walgreens 14,820 10/31/2031 NAP
18.03 Property   Fresenius - Alexandria, LA 3,450,000 9/28/2020     100.0% 11/6/2020 NAP NAP Fresenius Kidney Care 7,385 1/31/2034 NAP
18.04 Property   Fresenius - Marksville, LA 2,850,000 9/28/2020     100.0% 11/6/2020 NAP NAP Fresenius Kidney Care 6,630 1/31/2034 NAP
18.05 Property   Dollar General - Otterbein, IN 1,490,000 9/21/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,026 9/30/2035 NAP
18.06 Property   Dollar General - Chassell, MI 1,470,000 9/24/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,100 7/31/2035 NAP
18.07 Property   Dollar General - Noel, MO 1,425,000 10/1/2020     100.0% 11/6/2020 NAP NAP Dollar General 10,640 5/31/2035 NAP
18.08 Property   Dollar General - El Dorado Springs, MO 1,400,000 10/1/2020     100.0% 11/6/2020 NAP NAP Dollar General 10,640 8/31/2035 NAP
18.09 Property   Dollar General - Montgomery City, MO 1,390,000 9/23/2020     100.0% 11/6/2020 NAP NAP Dollar General 10,566 5/31/2035 NAP
18.10 Property   Dollar General - Cambridge, MN 1,380,000 9/27/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,100 6/30/2035 NAP
18.11 Property   Dollar General - Bemidji, MN 1,380,000 10/2/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,026 6/30/2035 NAP
18.12 Property   Dollar General - Kingman, IN 1,340,000 9/21/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,026 7/31/2035 NAP
18.13 Property   Dollar General - St Clair, MO 1,330,000 10/1/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,100 9/30/2035 NAP
18.14 Property   Dollar General - Greenview, IL 1,330,000 9/25/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,026 4/30/2035 NAP
18.15 Property   Dollar General - Warrensburg, IL 1,310,000 9/25/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,002 3/31/2035 NAP
18.16 Property   Dollar General - Fairbank, IA 1,260,000 10/1/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,100 8/31/2035 NAP
18.17 Property   Dollar General - St Charles, IA 1,260,000 10/1/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,026 6/30/2035 NAP
18.18 Property   Dollar General - Pelican Rapids, MN 1,260,000 10/2/2020     100.0% 11/6/2020 NAP NAP Dollar General 7,489 7/31/2034 NAP
18.19 Property   Dollar General - Eolia, MO 1,220,000 9/23/2020     100.0% 11/6/2020 NAP NAP Dollar General 9,100 5/31/2035 NAP
19 Loan 65, 88 Best Western Plus Carriage Inn 36,500,000 12/17/2019 56.2% 56.2% 70.5% 7/31/2020 130.89 115.16 NAP     NAP
20 Loan 8, 37, 66, 67 JW Marriott Nashville 301,000,000 11/10/2020 61.5% 61.5% 44.1% 9/30/2020 295.53 253.69 NAP     NAP
21 Loan 8, 68, 69, 70 White Oak Crossing 86,750,000 10/7/2019 73.1% 64.2% 93.0% 6/30/2020 NAP NAP BJ’s Wholesale Club 115,396 8/31/2023 Kohl’s
22 Loan 8, 71, 72, 73 Willoughby Commons 51,700,000 11/22/2019 71.5% 63.4% 98.9% 9/30/2020 NAP NAP BJ’s Wholesale Club 109,751 3/28/2030 Giant Eagle
23 Loan 8, 74 The Hub 80,800,000 9/1/2020 54.7% 54.7% 100.0% 9/30/2020 NAP NAP NYC Department of Finance 75,601 11/4/2027 Forman Mills
24 Loan 75, 76 SVEA Texas Portfolio 22,470,000 Various 66.3% 58.0% 100.0%   NAP NAP        
24.01 Property   4200 Jimmy Johnson Boulevard 4,380,000 9/17/2020     100.0% 11/6/2020 NAP NAP State of Texas 17,325 6/30/2030 NAP
24.02 Property   2220 Forum Drive 4,600,000 9/19/2020     100.0% 11/6/2020 NAP NAP State of Texas 25,536 12/31/2027 NAP
24.03 Property   4626 East Southcross Boulevard 3,800,000 9/15/2020     100.0% 11/6/2020 NAP NAP Fresenius Kidney Care 13,000 8/2/2027 NAP
24.04 Property   1919 Austin Avenue 2,880,000 9/21/2020     100.0% 11/6/2020 NAP NAP State of Texas 17,584 1/31/2024 NAP
24.05 Property   1470 Highway 44 2,420,000 9/21/2020     100.0% 11/6/2020 NAP NAP State of Texas 8,878 11/30/2028 NAP
24.06 Property   4602 East Southcross Boulevard 2,400,000 9/15/2020     100.0% 11/6/2020 NAP NAP DaVita Dialysis 8,040 7/19/2025 NAP
24.07 Property   2412 East Richardson Road 1,340,000 9/21/2020     100.0% 11/6/2020 NAP NAP State of Texas 19,955 7/31/2025 NAP
24.08 Property   11811 North D Street 650,000 9/17/2020     100.0% 11/6/2020 NAP NAP State of Texas 8,925 3/31/2026 NAP
25 Loan 77 Miramar Tech Center 23,000,000 9/18/2020 59.0% 59.0% 100.0% 10/22/2020 NAP NAP United Data Technologies 23,255 10/21/2035 The Services Companies
26 Loan 78, 79 10 Railroad Avenue 18,800,000 9/23/2020 64.8% 55.9% 100.0% 10/30/2020 NAP NAP Capital Hardware Supply, LLC 141,952 6/28/2030 ChemoMouthpiece, LLC

 

A-1-13

 

 

BMARK 2020-B21 Annex A-1

                               
Control Number Loan / Property Flag Footnotes Property Name As Is Appraised Value ($) As Is Appraisal Date Cut-off Date LTV Ratio (%) LTV Ratio at Maturity / ARD (%) Occupancy (%) (5) Occupancy Date ADR ($) RevPAR ($) Largest Tenant Largest Tenant Sq Ft Largest Tenant Lease Expiration (6) Second Largest Tenant
27 Loan 80, 81 Dearborn Flex Portfolio 17,350,000 9/30/2020 58.6% 47.4% 100.0%   NAP NAP        
27.01 Property   5850 Mercury Drive 9,350,000 9/30/2020     100.0% 9/30/2020 NAP NAP Wolverine (ITT Inc) 44,154 11/30/2030 Babels
27.02 Property   15041 South Commerce Drive 8,000,000 9/30/2020     100.0% 9/30/2020 NAP NAP Penske Truck Leasing Co 37,604 1/31/2031 RLE International
28 Loan 44, 82 3100 Research Boulevard 15,500,000 8/28/2020 64.5% 58.1% 76.4% 8/24/2020 NAP NAP GSA 65,471 11/30/2022 Vivial Media LLC
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 15,900,000 9/10/2020 59.4% 59.4% 97.9% 10/1/2020 NAP NAP Wal-Mart Stores, Inc. 40,942 10/31/2034 Elite Mr. Alan’s
30 Loan 84 156 West 54th and 159 West 53rd Street 15,000,000 10/6/2020 55.0% 55.0% 100.0% 10/1/2020 NAP NAP NAP     NAP
31 Loan 84 212 East 47th Street 15,800,000 10/6/2020 50.7% 50.7% 100.0% 10/1/2020 NAP NAP NAP     NAP
32 Loan 85 Park Plaza Business Park 11,000,000 9/3/2020 63.6% 50.5% 97.9% 11/2/2020 NAP NAP Cantex Continuing Care Network, LLC 12,480 7/30/2023 QRC Valve Distributors, LLC
33 Loan 86 Franz Road Industrial 7,940,000 9/25/2020 69.3% 56.5% 100.0% 10/26/2020 NAP NAP New World Auto 6,000 6/30/2023 Sandoval Strength
34 Loan   BJ’s Olean 7,480,000 9/2/2020 69.8% 56.1% 100.0% 11/1/2020 NAP NAP BJ’s Wholesale Club 71,760 1/31/2027 NAP
35 Loan   Rite Aid - Yucca Valley 7,470,000 10/8/2020 60.2% 54.6% 100.0% 11/6/2020 NAP NAP Rite Aid 18,026 6/30/2031 NAP
36 Loan 78, 87 Omaha Sitel 5,490,000 9/22/2020 65.5% 56.9% 100.0% 11/1/2020 NAP NAP Sitel Group 35,774 12/31/2035 NAP
37 Loan   CityLine Buffalo Storage 5,450,000 9/12/2020 69.7% 60.2% 90.0% 8/31/2020 NAP NAP NAP     NAP
38 Loan   CityLine Loveland CO 3,960,000 10/2/2020 68.2% 57.4% 98.1% 8/31/2020 NAP NAP NAP     NAP
39 Loan 84 455 Central Park West 3,900,000 10/6/2020 50.9% 50.9% 100.0% 10/1/2020 NAP NAP NAP     NAP

 

A-1-14

 

 

BMARK 2020-B21 Annex A-1
                           
Control Number Loan / Property Flag Footnotes Property Name Second Largest Tenant Sq Ft Second Largest Tenant Lease Expiration (6) Third Largest Tenant Third Largest Tenant Sq Ft Third Largest Tenant Lease Expiration (6) Fourth Largest Tenant Fourth Largest Tenant Sq Ft Fourth Largest Tenant Lease Expiration (6) Fifth Largest Tenant Fifth Largest Tenant Sq Ft
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 154,558 8/31/2030 Israel Discount Bank 142,533 12/31/2040 Bain & Company, Inc. 121,262 2/28/2030 Insight Venture Management LLC 93,998
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 388,784 4/16/2025 Dome Printing 320,000 11/17/2033 McClellan Jet Services 280,839 9/12/2022 Northrop Grumman Systems 267,618
3 Loan 20 Amazon West LA 45,302 11/26/2028 NAP     NAP     NAP  
4 Loan 8, 21 32-42 Broadway 52,618 2/6/2022 Magilla Entertainment, LLC 33,106 9/15/2024 Premier Home Health Care Services, Inc. 18,000 1/31/2023 Agudath Israel of America 17,000
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay                    
5.01 Property   MGM Grand     NAP     NAP     NAP  
5.02 Property   Mandalay Bay     NAP     NAP     NAP  
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 2,027 9/8/2030 Chai Urgent Care 2,000 7/31/2030 Snow Wolf 700 11/30/2037 NAP  
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 70,972 9/30/2033 Ralph Lauren 38,638 6/30/2029 Loro Piana USA 24,388 8/31/2025 Sandler Capital 17,200
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 53,812 9/30/2034 Sheet Metal Workers National Pension 26,885 11/30/2033 Balfour Beatty Construction, LLC 19,126 6/30/2032 NAP  
9 Loan 43 One Commerce Square 29,538 2/28/2029 Prospero Management Services 28,726 9/30/2022 Wunderlich Securities, Inc. 28,716 3/31/2031 True Sports, Inc. 22,551
10 Loan 44, 45, 46 Tower at Frisco Square 16,351 2/28/2026 Scoreboard Ventures 8,402 11/29/2023 Nerdvana Food & Spirits 8,354 12/31/2026 Dunn’s River Brands 7,131
11 Loan 47 The Standard 99,231 11/30/2033 EWI Worldwide 30,349 1/31/2024 NAP     NAP  
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 102,805 7/31/2038 JCPenney 94,895 7/31/2038 Burlington 55,078 7/31/2028 Best Buy 53,371
13 Loan 8, 55, 56 4 West 58th Street 10,651 12/31/2030 J2 Enterprises LTD. 6,121 7/31/2028 Northwell Health 5,174 5/31/2030 Union Sq. Dermatology 5,174
14 Loan 8, 57, 58, 59 Redmond Town Center 15,393 5/31/2025 Haiku Seafood & Sushi Buffet 11,381 9/30/2021 Pediatric Associates, Inc. P.S. 10,996 9/30/2028 Gene Juarez Salon & Spa 9,568
15 Loan   Walgreens 9 Portfolio                    
15.01 Property   WAG Buffalo Grove     NAP     NAP     NAP  
15.02 Property   WAG Nashville     NAP     NAP     NAP  
15.03 Property   WAG Irmo     NAP     NAP     NAP  
15.04 Property   WAG Sherman     NAP     NAP     NAP  
15.05 Property   WAG Cleveland     NAP     NAP     NAP  
15.06 Property   WAG Saginaw     NAP     NAP     NAP  
15.07 Property   WAG Alice     NAP     NAP     NAP  
15.08 Property   WAG Camden     NAP     NAP     NAP  
15.09 Property   WAG Poplar Bluff     NAP     NAP     NAP  
16 Loan 60 44 Whippany Fee     NAP     NAP     NAP  
17 Loan 8, 61, 62, 63 Cambridge Crossing 60,867 2/28/2030 Tatte 4,293 2/28/2031 NAP     NAP  
18 Loan 64 InCommercial Net Lease Portfolio                    
18.01 Property   Walgreens - Grenada, MS     NAP     NAP     NAP  
18.02 Property   Walgreens - Bastrop, LA     NAP     NAP     NAP  
18.03 Property   Fresenius - Alexandria, LA     NAP     NAP     NAP  
18.04 Property   Fresenius - Marksville, LA     NAP     NAP     NAP  
18.05 Property   Dollar General - Otterbein, IN     NAP     NAP     NAP  
18.06 Property   Dollar General - Chassell, MI     NAP     NAP     NAP  
18.07 Property   Dollar General - Noel, MO     NAP     NAP     NAP  
18.08 Property   Dollar General - El Dorado Springs, MO     NAP     NAP     NAP  
18.09 Property   Dollar General - Montgomery City, MO     NAP     NAP     NAP  
18.10 Property   Dollar General - Cambridge, MN     NAP     NAP     NAP  
18.11 Property   Dollar General - Bemidji, MN     NAP     NAP     NAP  
18.12 Property   Dollar General - Kingman, IN     NAP     NAP     NAP  
18.13 Property   Dollar General - St Clair, MO     NAP     NAP     NAP  
18.14 Property   Dollar General - Greenview, IL     NAP     NAP     NAP  
18.15 Property   Dollar General - Warrensburg, IL     NAP     NAP     NAP  
18.16 Property   Dollar General - Fairbank, IA     NAP     NAP     NAP  
18.17 Property   Dollar General - St Charles, IA     NAP     NAP     NAP  
18.18 Property   Dollar General - Pelican Rapids, MN     NAP     NAP     NAP  
18.19 Property   Dollar General - Eolia, MO     NAP     NAP     NAP  
19 Loan 65, 88 Best Western Plus Carriage Inn     NAP     NAP     NAP  
20 Loan 8, 37, 66, 67 JW Marriott Nashville     NAP     NAP     NAP  
21 Loan 8, 68, 69, 70 White Oak Crossing 86,584 1/31/2024 Dick’s Sporting Goods 45,624 1/31/2024 Best Buy 45,000 1/31/2024 Ross Dress for Less 30,187
22 Loan 8, 71, 72, 73 Willoughby Commons 77,500 7/31/2028 Regal Cinemas 66,963 10/31/2032 PetSmart 26,259 6/30/2023 Office Max 23,806
23 Loan 8, 74 The Hub 42,573 8/31/2022 Aldi 17,936 10/31/2023 Walgreens 16,447 7/31/2024 Bronx Party Center 7,562
24 Loan 75, 76 SVEA Texas Portfolio                    
24.01 Property   4200 Jimmy Johnson Boulevard     NAP     NAP     NAP  
24.02 Property   2220 Forum Drive     NAP     NAP     NAP  
24.03 Property   4626 East Southcross Boulevard     NAP     NAP     NAP  
24.04 Property   1919 Austin Avenue     NAP     NAP     NAP  
24.05 Property   1470 Highway 44     NAP     NAP     NAP  
24.06 Property   4602 East Southcross Boulevard     NAP     NAP     NAP  
24.07 Property   2412 East Richardson Road     NAP     NAP     NAP  
24.08 Property   11811 North D Street     NAP     NAP     NAP  
25 Loan 77 Miramar Tech Center 10,313 12/14/2027 Better NOI 9,903 2/14/2031 O3b Networks USA 7,011 3/9/2027 The University of Florida Board of Trustees 6,228
26 Loan 78, 79 10 Railroad Avenue 1,850 4/9/2024 NAP     NAP     NAP  

 

A-1-15

 

 

BMARK 2020-B21 Annex A-1

                           
Control Number Loan / Property Flag Footnotes Property Name Second Largest Tenant Sq Ft Second Largest Tenant Lease Expiration (6) Third Largest Tenant Third Largest Tenant Sq Ft Third Largest Tenant Lease Expiration (6) Fourth Largest Tenant Fourth Largest Tenant Sq Ft Fourth Largest Tenant Lease Expiration (6) Fifth Largest Tenant Fifth Largest Tenant Sq Ft
27 Loan 80, 81 Dearborn Flex Portfolio                    
27.01 Property   5850 Mercury Drive 34,516 8/31/2032 NAP     NAP     NAP  
27.02 Property   15041 South Commerce Drive 11,894 3/31/2022 Etta Services Inc 8,806 11/30/2030 Central Michigan 8,780 5/31/2023 NAP  
28 Loan 44, 82 3100 Research Boulevard 60,026 12/31/2022 BWI North America 53,934 2/28/2025 Xerion Advanced Battery 31,081 1/31/2024 Gillson Trucking 1,095
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 5,311 4/30/2028 Burger King 2,687 12/31/2030 Uncle Remus Fried Chicken 2,207 4/30/2025 Associated Bank 1,526
30 Loan 84 156 West 54th and 159 West 53rd Street     NAP     NAP     NAP  
31 Loan 84 212 East 47th Street     NAP     NAP     NAP  
32 Loan 85 Park Plaza Business Park 5,532 5/31/2025 Todd Klein Insurance Agency Inc. 5,287 3/31/2025 Rent Recovery of BetterNOI, LLC 4,840 9/30/2025 Texas Direct Auto 4,480
33 Loan 86 Franz Road Industrial 5,500 3/31/2024 Houston Chronicle 5,400 2/28/2021 Eli Smith 3,600 10/31/2021 Glass Doctor 3,000
34 Loan   BJ’s Olean     NAP     NAP     NAP  
35 Loan   Rite Aid - Yucca Valley     NAP     NAP     NAP  
36 Loan 78, 87 Omaha Sitel     NAP     NAP     NAP  
37 Loan   CityLine Buffalo Storage     NAP     NAP     NAP  
38 Loan   CityLine Loveland CO     NAP     NAP     NAP  
39 Loan 84 455 Central Park West     NAP     NAP     NAP  

 

A-1-16

 

 

BMARK 2020-B21 Annex A-1
                                 
Control Number Loan / Property Flag Footnotes Property Name Fifth Largest Tenant Lease Expiration (6) Environmental Phase I Report Date Environmental Phase II Environmental Phase II Report Date Engineering Report Date Seismic Report Date PML or SEL (%) Earthquake Insurance Required Upfront RE Tax Reserve ($) Ongoing RE Tax Reserve ($) Upfront Insurance Reserve ($) Ongoing Insurance Reserve ($) Upfront Replacement Reserve ($)
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 2/28/2030 9/22/2020 No NAP 9/22/2020 NAP NAP No 0 0 0 0 0
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 12/31/2021 11/2/2020 No NAP 9/30/2020 9/30/2020 9% No 0 0 0 0 0
3 Loan 20 Amazon West LA   7/10/2020 No NAP 7/10/2020 7/10/2020 16% No 617,304 123,461 280,861 40,123 0
4 Loan 8, 21 32-42 Broadway 1/31/2026 9/3/2020 No NAP 9/3/2020 NAP NAP No 0 393,685 0 0 0
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay               No 0 0 0 0 0
5.01 Property   MGM Grand   2/11/2020 No NAP 2/11/2020 NAP NAP No          
5.02 Property   Mandalay Bay   2/11/2020 No NAP 2/11/2020 NAP NAP No          
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue   9/14/2020 No NAP 9/11/2020 NAP NAP No 235,263 39,210 0 73,324 0
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 6/30/2027 2/3/2020 No NAP 1/30/2020 NAP NAP No 0 0 0 0 0
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive   9/11/2020 No NAP 9/11/2020 NAP NAP No 0 53,395 12,275 6,137 0
9 Loan 43 One Commerce Square 7/31/2032 9/8/2020 No NAP 9/8/2020 9/8/2020 13% No 73,100 24,367 0 0 0
10 Loan 44, 45, 46 Tower at Frisco Square 7/31/2022 7/15/2020 No NAP 7/15/2020 NAP NAP No 0 70,066 27,903 5,581 0
11 Loan 47 The Standard   10/21/2020 No NAP 10/21/2020 NAP NAP No 165,018 0 0 0 4,741
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 1/31/2032 11/22/2019 No NAP 10/22/2019 NAP NAP No 0 0 0 0 0
13 Loan 8, 55, 56 4 West 58th Street 3/31/2035 1/28/2020 No NAP 1/28/2020 NAP NAP No 91,175 91,175 4,669 4,669 0
14 Loan 8, 57, 58, 59 Redmond Town Center 5/31/2024 2/19/2020 Yes 12/12/2019 2/20/2020 2/7/2020 10% No 411,531 68,589 130,585 10,045 0
15 Loan   Walgreens 9 Portfolio               No 0 0 0 0 0
15.01 Property   WAG Buffalo Grove   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.02 Property   WAG Nashville   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.03 Property   WAG Irmo   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.04 Property   WAG Sherman   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.05 Property   WAG Cleveland   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.06 Property   WAG Saginaw   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.07 Property   WAG Alice   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.08 Property   WAG Camden   6/12/2020 No NAP 6/12/2020 NAP NAP No          
15.09 Property   WAG Poplar Bluff   6/12/2020 No NAP 6/12/2020 NAP NAP No          
16 Loan 60 44 Whippany Fee   10/14/2020 No NAP 10/14/2020 NAP NAP No 0 0 0 0 0
17 Loan 8, 61, 62, 63 Cambridge Crossing   10/7/2020 No NAP 10/9/2020 NAP NAP No 0 0 0 0 0
18 Loan 64 InCommercial Net Lease Portfolio               No 62,693 31,347 15,625 1,736 0
18.01 Property   Walgreens - Grenada, MS   11/6/2020 No NAP 11/9/2020 NAP NAP No          
18.02 Property   Walgreens - Bastrop, LA   8/19/2020 No NAP 8/19/2020 NAP NAP No          
18.03 Property   Fresenius - Alexandria, LA   8/18/2020 No NAP 8/19/2020 NAP NAP No          
18.04 Property   Fresenius - Marksville, LA   8/18/2020 No NAP 8/19/2020 NAP NAP No          
18.05 Property   Dollar General - Otterbein, IN   10/16/2020 No NAP 10/13/2020 NAP NAP No          
18.06 Property   Dollar General - Chassell, MI   8/20/2020 No NAP 8/19/2020 NAP NAP No          
18.07 Property   Dollar General - Noel, MO   6/22/2020 No NAP 6/22/2020 NAP NAP No          
18.08 Property   Dollar General - El Dorado Springs, MO   8/19/2020 No NAP 8/19/2020 NAP NAP No          
18.09 Property   Dollar General - Montgomery City, MO   6/22/2020 No NAP 6/22/2020 NAP NAP No          
18.10 Property   Dollar General - Cambridge, MN   7/6/2020 No NAP 7/1/2020 NAP NAP No          
18.11 Property   Dollar General - Bemidji, MN   8/19/2020 No NAP 8/19/2020 NAP NAP No          
18.12 Property   Dollar General - Kingman, IN   8/19/2020 No NAP 8/19/2020 NAP NAP No          
18.13 Property   Dollar General - St Clair, MO   10/16/2020 No NAP 10/19/2020 NAP NAP No          
18.14 Property   Dollar General - Greenview, IL   11/6/2020 No NAP 11/6/2020 NAP NAP No          
18.15 Property   Dollar General - Warrensburg, IL   11/6/2020 No NAP 11/9/2020 NAP NAP No          
18.16 Property   Dollar General - Fairbank, IA   10/16/2020 No NAP 10/16/2020 NAP NAP No          
18.17 Property   Dollar General - St Charles, IA   8/18/2020 No NAP 8/19/2020 NAP NAP No          
18.18 Property   Dollar General - Pelican Rapids, MN   11/9/2020 No NAP 11/9/2020 NAP NAP No          
18.19 Property   Dollar General - Eolia, MO   6/22/2020 No NAP 6/22/2020 NAP NAP No          
19 Loan 65, 88 Best Western Plus Carriage Inn   1/2/2020 No NAP 1/2/2020 12/31/2019 16% No 32,016 16,008 0 0 0
20 Loan 8, 37, 66, 67 JW Marriott Nashville   2/25/2020 No NAP 2/26/2020 NAP NAP No 0 0 0 0 1,875,692
21 Loan 8, 68, 69, 70 White Oak Crossing 1/31/2024 10/15/2019 No NAP 10/14/2019 NAP NAP No 0 71,051 0 0 0
22 Loan 8, 71, 72, 73 Willoughby Commons 7/31/2028 12/16/2019 No NAP 12/3/2019 NAP NAP No 152,941 21,849 0 0 0
23 Loan 8, 74 The Hub 5/31/2029 9/14/2020 No NAP 9/15/2020 NAP NAP No 0 0 0 0 0
24 Loan 75, 76 SVEA Texas Portfolio               No 10,384 29,323 0 0 0
24.01 Property   4200 Jimmy Johnson Boulevard   1/30/2020 No NAP 1/30/2020 NAP NAP No          
24.02 Property   2220 Forum Drive   1/31/2020 No NAP 1/31/2020 NAP NAP No          
24.03 Property   4626 East Southcross Boulevard   1/31/2020 No NAP 1/30/2020 NAP NAP No          
24.04 Property   1919 Austin Avenue   2/14/2020 No NAP 1/30/2020 NAP NAP No          
24.05 Property   1470 Highway 44   1/30/2020 No NAP 1/30/2020 NAP NAP No          
24.06 Property   4602 East Southcross Boulevard   1/29/2020 No NAP 1/30/2020 NAP NAP No          
24.07 Property   2412 East Richardson Road   1/30/2020 No NAP 1/30/2020 NAP NAP No          
24.08 Property   11811 North D Street   1/30/2020 No NAP 1/30/2020 NAP NAP No          
25 Loan 77 Miramar Tech Center 8/31/2024 9/22/2020 No NAP 9/22/2020 NAP NAP No 319,973 31,997 12,804 4,268 0
26 Loan 78, 79 10 Railroad Avenue   11/13/2020 No NAP 10/13/2020 NAP NAP No 32,821 16,411 11,308 3,769 1,198

 

A-1-17

 

 

BMARK 2020-B21 Annex A-1

                                 
Control Number Loan / Property Flag Footnotes Property Name Fifth Largest Tenant Lease Expiration (6) Environmental Phase I Report Date Environmental Phase II Environmental Phase II Report Date Engineering Report Date Seismic Report Date PML or SEL (%) Earthquake Insurance Required Upfront RE Tax Reserve ($) Ongoing RE Tax Reserve ($) Upfront Insurance Reserve ($) Ongoing Insurance Reserve ($) Upfront Replacement Reserve ($)
27 Loan 80, 81 Dearborn Flex Portfolio               No 33,214 33,214 17,877 1,490 0
27.01 Property   5850 Mercury Drive   10/6/2020 No NAP 10/6/2020 NAP NAP No          
27.02 Property   15041 South Commerce Drive   10/6/2020 No NAP 10/5/2020 NAP NAP No          
28 Loan 44, 82 3100 Research Boulevard 5/31/2023 8/31/2020 No NAP 8/31/2020 NAP NAP No 97,547 0 0 0 4,617
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 7/31/2026 9/18/2020 No NAP 9/21/2020 NAP NAP No 41,432 10,358 4,061 2,031 0
30 Loan 84 156 West 54th and 159 West 53rd Street   10/22/2020 Yes 10/29/2020 10/21/2020 NAP NAP No 43,520 43,520 10,637 5,319 0
31 Loan 84 212 East 47th Street   10/21/2020 No NAP 10/21/2020 NAP NAP No 28,334 28,334 9,863 4,931 0
32 Loan 85 Park Plaza Business Park 8/31/2021 11/4/2020 No NAP 10/28/2020 NAP NAP No 184,076 15,800 25,544 3,649 1,503
33 Loan 86 Franz Road Industrial 8/31/2022 10/2/2020 No NAP 10/1/2020 NAP NAP No 79,032 7,185 3,068 3,068 25,000
34 Loan   BJ’s Olean   8/31/2020 No NAP 9/1/2020 NAP NAP No 0 0 2,452 2,452 897
35 Loan   Rite Aid - Yucca Valley   10/2/2020 No NAP 10/2/2020 10/2/2020 11% No 1,464 1,464 2,487 622 0
36 Loan 78, 87 Omaha Sitel   9/24/2020 No NAP 9/24/2020 NAP NAP No 0 0 0 0 750,596
37 Loan   CityLine Buffalo Storage   9/18/2020 No NAP 9/18/2020 NAP NAP No 1,502 751 0 0 0
38 Loan   CityLine Loveland CO   9/29/2020 No NAP 9/29/2020 NAP NAP No 38,163 4,770 0 0 0
39 Loan 84 455 Central Park West   10/21/2020 No NAP 10/21/2020 NAP NAP No 8,057 8,057 6,981 3,490 0

 

A-1-18

 

 

BMARK 2020-B21 Annex A-1
                             
Control Number Loan / Property Flag Footnotes Property Name Ongoing Replacement Reserve ($) Replacement Reserve Caps ($) Upfront TI/LC Reserve ($) Ongoing TI/LC Reserve ($) TI/LC Caps ($) Upfront Debt Service Reserve ($) Ongoing Debt Service Reserve ($) Upfront Deferred Maintenance Reserve ($) Ongoing Deferred Maintenance Reserve ($) Upfront Environmental Reserve ($) Ongoing Environmental Reserve ($)
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 0 0 56,172,399 0 0 0 0 0 0 0 0
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 0 2,077,645 0 0 6,925,484 0 0 0 0 0 0
3 Loan 20 Amazon West LA 0 0 0 0 0 168,375 0 0 0 0 0
4 Loan 8, 21 32-42 Broadway 30,425 0 3,000,000 0 3,000,000 4,062,500 0 32,450 0 0 0
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 0 0 0 0 0 0 0 0 0 0 0
5.01 Property   MGM Grand                      
5.02 Property   Mandalay Bay                      
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 18,090 0 0 0 0 0 0 0 0 213,938 0
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 0 170,012 0 0 1,020,072 0 0 0 0 0 0
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 4,662 0 0 29,136 0 0 0 0 0 0 0
9 Loan 43 One Commerce Square 6,524 0 1,500,000 32,620 3,000,000 0 0 1,007,639 0 0 0
10 Loan 44, 45, 46 Tower at Frisco Square 2,851 0 1,200,000 41,667 3,700,000 0 0 0 0 0 0
11 Loan 47 The Standard 4,741 0 1,000,000 50,000 2,500,000 577,065 0 3,956 0 0 0
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 0 24 times monthly constant 0 0 24 times monthly constant 0 0 0 0 0 0
13 Loan 8, 55, 56 4 West 58th Street 1,392 33,408 7,811,435 13,932 835,920 0 0 0 0 0 0
14 Loan 8, 57, 58, 59 Redmond Town Center 4,830 0 0 53,090 2,750,000 0 0 0 0 0 0
15 Loan   Walgreens 9 Portfolio 0 0 0 0 0 0 0 0 0 0 0
15.01 Property   WAG Buffalo Grove                      
15.02 Property   WAG Nashville                      
15.03 Property   WAG Irmo                      
15.04 Property   WAG Sherman                      
15.05 Property   WAG Cleveland                      
15.06 Property   WAG Saginaw                      
15.07 Property   WAG Alice                      
15.08 Property   WAG Camden                      
15.09 Property   WAG Poplar Bluff                      
16 Loan 60 44 Whippany Fee 0 0 0 0 0 77,875 0 0 0 0 0
17 Loan 8, 61, 62, 63 Cambridge Crossing 0 0 20,538,868 0 0 0 0 0 0 0 0
18 Loan 64 InCommercial Net Lease Portfolio 0 0 0 0 0 0 0 0 0 0 0
18.01 Property   Walgreens - Grenada, MS                      
18.02 Property   Walgreens - Bastrop, LA                      
18.03 Property   Fresenius - Alexandria, LA                      
18.04 Property   Fresenius - Marksville, LA                      
18.05 Property   Dollar General - Otterbein, IN                      
18.06 Property   Dollar General - Chassell, MI                      
18.07 Property   Dollar General - Noel, MO                      
18.08 Property   Dollar General - El Dorado Springs, MO                      
18.09 Property   Dollar General - Montgomery City, MO                      
18.10 Property   Dollar General - Cambridge, MN                      
18.11 Property   Dollar General - Bemidji, MN                      
18.12 Property   Dollar General - Kingman, IN                      
18.13 Property   Dollar General - St Clair, MO                      
18.14 Property   Dollar General - Greenview, IL                      
18.15 Property   Dollar General - Warrensburg, IL                      
18.16 Property   Dollar General - Fairbank, IA                      
18.17 Property   Dollar General - St Charles, IA                      
18.18 Property   Dollar General - Pelican Rapids, MN                      
18.19 Property   Dollar General - Eolia, MO                      
19 Loan 65, 88 Best Western Plus Carriage Inn The greater of (i) 4.0% of second prior month’s gross revenues, (ii) the then amount required under the Management Agreement or (iii) the then amount required under the Franchise Agreement for FF&E Work 0 0 0 0 0 0 0 0 0 0
20 Loan 8, 37, 66, 67 JW Marriott Nashville Beginning on the payment date in April 2021, the borrower is required to deposit an amount equal to (i) for the payment dates through and including July 2023, 3% of Gross Revenues for the prior calendar month and (ii) thereafter, 4% of Gross Revenues for the prior calendar month 0 0 0 0 8,831,707 0 0 0 0 0
21 Loan 8, 68, 69, 70 White Oak Crossing 13,637 0 1,000,000 0 1,000,000 0 0 0 0 0 0
22 Loan 8, 71, 72, 73 Willoughby Commons 5,274 350,000 825,000 0 825,000 0 0 110,000 0 0 0
23 Loan 8, 74 The Hub 0 0 0 43,034 2,065,620 0 0 11,300 0 0 0
24 Loan 75, 76 SVEA Texas Portfolio 2,484 59,622 415,650 21,364 512,745 0 0 26,214 0 0 0
24.01 Property   4200 Jimmy Johnson Boulevard                      
24.02 Property   2220 Forum Drive                      
24.03 Property   4626 East Southcross Boulevard                      
24.04 Property   1919 Austin Avenue                      
24.05 Property   1470 Highway 44                      
24.06 Property   4602 East Southcross Boulevard                      
24.07 Property   2412 East Richardson Road                      
24.08 Property   11811 North D Street                      
25 Loan 77 Miramar Tech Center 945 56,710 0 5,435 326,082 0 0 0 0 0 0
26 Loan 78, 79 10 Railroad Avenue 1,198 0 0 0 143,802 0 0 0 0 0 0

 

A-1-19

 

 

BMARK 2020-B21 Annex A-1

                             
Control Number Loan / Property Flag Footnotes Property Name Ongoing Replacement Reserve ($) Replacement Reserve Caps ($) Upfront TI/LC Reserve ($) Ongoing TI/LC Reserve ($) TI/LC Caps ($) Upfront Debt Service Reserve ($) Ongoing Debt Service Reserve ($) Upfront Deferred Maintenance Reserve ($) Ongoing Deferred Maintenance Reserve ($) Upfront Environmental Reserve ($) Ongoing Environmental Reserve ($)
27 Loan 80, 81 Dearborn Flex Portfolio 1,822 43,726 0 8,153 293,496 0 0 0 0 0 0
27.01 Property   5850 Mercury Drive                      
27.02 Property   15041 South Commerce Drive                      
28 Loan 44, 82 3100 Research Boulevard 4,617 277,012 18,467 18,467 1,108,048 0 0 92,029 0 0 0
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 702 0 0 2,525 0 0 0 0 0 0 0
30 Loan 84 156 West 54th and 159 West 53rd Street 950 0 0 0 0 0 0 0 0 0 0
31 Loan 84 212 East 47th Street 600 0 0 0 0 0 0 7,500 0 0 0
32 Loan 85 Park Plaza Business Park 1,503 54,000 350,000 0 350,000 199,306 0 32,000 0 0 0
33 Loan 86 Franz Road Industrial 0 25,000 50,000 5,313 100,000 107,624 0 0 0 0 0
34 Loan   BJ’s Olean 897 53,820 4,485 4,485 269,100 77,497 0 22,500 0 0 0
35 Loan   Rite Aid - Yucca Valley 0 0 0 0 0 0 0 0 0 0 0
36 Loan 78, 87 Omaha Sitel 596 0 100,000 2,385 0 40,506 0 2,813 0 0 0
37 Loan   CityLine Buffalo Storage 464 0 0 0 0 0 0 34,688 0 0 0
38 Loan   CityLine Loveland CO 273 0 0 0 0 0 0 0 0 0 0
39 Loan 84 455 Central Park West 417 0 0 0 0 0 0 0 0 0 0

 

A-1-20

 

 

BMARK 2020-B21 Annex A-1
               
Control Number Loan / Property Flag Footnotes Property Name Upfront Other Reserve ($) Ongoing Other Reserve ($) Other Reserve Description Borrower Name
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 33,543,750 0 Free Rent Reserve ($25,964,570); Lobby/Elevator Work ($5,970,240); Parking Rent Shortfall Reserve ($1,608,940) 1114 6th Avenue Owner LLC
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 6,190,922 0 Existing TI/LC Obligations Reserve ($5,482,591), Development Agency Loan Reserve ($689,613.89), Rent Concession Reserve ($18,717) McClellan Realty, LLC
3 Loan 20 Amazon West LA 3,120,000 0 Unfunded Obligations Reserve ($2,620,000), Additional Allowance Reserve ($500,000) Playa Vista Real Estate II, LLC
4 Loan 8, 21 32-42 Broadway 131,038 0 Unfunded Obligations Reserve 32-42 Broadway Owner LLC
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 0 0   MGM Grand PropCo, LLC and Mandalay PropCo, LLC
5.01 Property   MGM Grand        
5.02 Property   Mandalay Bay        
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 304,500 0 Unfunded Obligations Reserve 420 Kent Avenue LLC
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 3,048,024 0 TCO Renewal Reserve ($2,000,000), Unfunded Obligations Reserve ($1,048,024.18) 711 Fifth Ave Principal Owner LLC
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 2,772,976 0 Unfunded Obligations Reserve UST Fairview Owner, LP
9 Loan 43 One Commerce Square 0 0   One Commerce Square Memphis Realty LP
10 Loan 44, 45, 46 Tower at Frisco Square 999,571 0 Unfunded Obligations Reserve ($484,050), Gearbox Unfunded Obligations Reserve ($300,000), Prepaid Rent Reserve ($215,521) Frisco Tower Acquisition DE, LLC
11 Loan 47 The Standard 2,134,418 0 Outstanding TI/LC Reserve 27777 Property, LLC
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 0 0   Brooklyn Kings Plaza LLC, Kings Plaza Ground Lease LLC
13 Loan 8, 55, 56 4 West 58th Street 5,799,156 0 Free Rent/Gap Rent Reserve Ulysses Co. II, L.L.C., Solow Building Company III, L.L.C.
14 Loan 8, 57, 58, 59 Redmond Town Center 2,809,532 0 Unfunded Obligations Reserve FHR Main Retail Center, LLC
15 Loan   Walgreens 9 Portfolio 0 0   Cello Property Alice, L.L.C., Cello Property Buffalo Grove, L.L.C., Cello Property Camden, L.L.C., Cello Property Cleveland, L.L.C., Cello Property Irmo, L.L.C., Cello Property Nashville, L.L.C., Cello Property Poplar Bluff, L.L.C., Cello Property Saginaw, L.L.C. and Cello Property Sherman, L.L.C.
15.01 Property   WAG Buffalo Grove        
15.02 Property   WAG Nashville        
15.03 Property   WAG Irmo        
15.04 Property   WAG Sherman        
15.05 Property   WAG Cleveland        
15.06 Property   WAG Saginaw        
15.07 Property   WAG Alice        
15.08 Property   WAG Camden        
15.09 Property   WAG Poplar Bluff        
16 Loan 60 44 Whippany Fee 0 0   MCP II 44 Whippany, LLC
17 Loan 8, 61, 62, 63 Cambridge Crossing 11,091,980 0 Rent Concession Reserve ($10,841,980.06), Municipalities Code Violation Reserve ($250,000) DW PropCo JK, LLC
18 Loan 64 InCommercial Net Lease Portfolio 0 0   InCommercial Net Lease DST 1
18.01 Property   Walgreens - Grenada, MS        
18.02 Property   Walgreens - Bastrop, LA        
18.03 Property   Fresenius - Alexandria, LA        
18.04 Property   Fresenius - Marksville, LA        
18.05 Property   Dollar General - Otterbein, IN        
18.06 Property   Dollar General - Chassell, MI        
18.07 Property   Dollar General - Noel, MO        
18.08 Property   Dollar General - El Dorado Springs, MO        
18.09 Property   Dollar General - Montgomery City, MO        
18.10 Property   Dollar General - Cambridge, MN        
18.11 Property   Dollar General - Bemidji, MN        
18.12 Property   Dollar General - Kingman, IN        
18.13 Property   Dollar General - St Clair, MO        
18.14 Property   Dollar General - Greenview, IL        
18.15 Property   Dollar General - Warrensburg, IL        
18.16 Property   Dollar General - Fairbank, IA        
18.17 Property   Dollar General - St Charles, IA        
18.18 Property   Dollar General - Pelican Rapids, MN        
18.19 Property   Dollar General - Eolia, MO        
19 Loan 65, 88 Best Western Plus Carriage Inn 0 0   5525 Sepulveda Hotel Partners, LLC
20 Loan 8, 37, 66, 67 JW Marriott Nashville 0 0   8th & Demonbreun Hotel LP
21 Loan 8, 68, 69, 70 White Oak Crossing 19,926 0 Unfunded Obligations Reserve NC-Garner White-DDP TIC, LLC and NC-Garner White-Northwood TIC, LLC
22 Loan 8, 71, 72, 73 Willoughby Commons 566,188 0 Critical Tenant Reserve ($496,188), Unfunded Obligations Reserve ($70,000) Willoughby Commons LLC
23 Loan 8, 74 The Hub 0 0   Related Retail Hub, LLC
24 Loan 75, 76 SVEA Texas Portfolio 0 0   SVEA DB Holdings LLC
24.01 Property   4200 Jimmy Johnson Boulevard        
24.02 Property   2220 Forum Drive        
24.03 Property   4626 East Southcross Boulevard        
24.04 Property   1919 Austin Avenue        
24.05 Property   1470 Highway 44        
24.06 Property   4602 East Southcross Boulevard        
24.07 Property   2412 East Richardson Road        
24.08 Property   11811 North D Street        
25 Loan 77 Miramar Tech Center 193,990 0 Free Rent Reserve Miramar Tech LLC
26 Loan 78, 79 10 Railroad Avenue 0 0   Railroad Avenue Real Estate Holdings, LLC

 

A-1-21

 

 

BMARK 2020-B21 Annex A-1

               
Control Number Loan / Property Flag Footnotes Property Name Upfront Other Reserve ($) Ongoing Other Reserve ($) Other Reserve Description Borrower Name
27 Loan 80, 81 Dearborn Flex Portfolio 59,540 0 Free Rent Reserve North Ford Holdings II LLC and North Ford Holdings III LLC
27.01 Property   5850 Mercury Drive        
27.02 Property   15041 South Commerce Drive        
28 Loan 44, 82 3100 Research Boulevard 0 0   Kettering Office Park LLC
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago 10,472 0 Gap Rent Reserve Ace 2 Bronzeville, LLC
30 Loan 84 156 West 54th and 159 West 53rd Street 5,720 0 Condominium Common Charge Reserve West 54th Garage LLC
31 Loan 84 212 East 47th Street 5,720 0 Condominium Common Charge Reserve 47th Garage LLC
32 Loan 85 Park Plaza Business Park 0 0   Tres Amigos-MJG, LLC
33 Loan 86 Franz Road Industrial 0 0   Franz Warehouse DE LLC
34 Loan   BJ’s Olean 0 0   Olean Retail Property Limited Partnership
35 Loan   Rite Aid - Yucca Valley 0 0   57701 Twentynine Palms, LLC
36 Loan 78, 87 Omaha Sitel 100,000 0 Outstanding TI Reserve Edge 5601N 103rd St LLC
37 Loan   CityLine Buffalo Storage 0 0   FultonBSH SVNC I, LLC
38 Loan   CityLine Loveland CO 0 0   29th Street Self-Storage II, LLC
39 Loan 84 455 Central Park West 9,008 0 Condominium Common Charge Reserve CPW Garage LLC

 

A-1-22

 

 

BMARK 2020-B21 Annex A-1
                               
Control Number Loan / Property Flag Footnotes Property Name Delaware Statutory Trust? Carve-out Guarantor Loan Purpose Loan Amount (sources) Principal’s New Cash Contribution (7) Subordinate Debt Other Sources Total Sources Loan Payoff Purchase Price Closing Costs Reserves
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building No BOP NYC OP LLC, Swig Investment Company, LLC Refinance 883,000,000 0 367,000,000 0 1,250,000,000 905,439,802 0 14,879,035 89,716,149
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park No McClellan Business Park, LLC Refinance 358,000,000 0 0 0 358,000,000 344,200,000 0 2,750,000 6,190,922
3 Loan 20 Amazon West LA No Hooman Nissani, Sharen Golshon, and Babak Sarraf Refinance 75,000,000 0 93,000,000 0 168,000,000 117,377,813 0 3,454,883 4,186,541
4 Loan 8, 21 32-42 Broadway No Eli Schron, Mark Schron and Avi Schron Refinance 125,000,000 2,050,134 0 0 127,050,134 115,986,003 0 3,838,143 7,225,988
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay No BREIT Operating Partnership L.P. and MGM Growth Properties Operating Partnership LP Acquisition 1,634,200,000 1,617,792,163 1,365,800,000 0 4,617,792,163 0 4,600,000,000 17,792,163 0
5.01 Property   MGM Grand                        
5.02 Property   Mandalay Bay                        
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue No Eliot Spitzer Refinance 216,900,000 0 171,100,000 0 388,000,000 381,492,632 0 5,401,093 753,701
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue No None Refinance 545,000,000 60,294,721 0 0 605,294,721 598,153,683 0 4,093,014 3,048,024
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive No Estein Holdings, Ltd. Acquisition 52,500,000 38,425,720 0 0 90,925,720 0 87,500,000 640,470 2,785,250
9 Loan 43 One Commerce Square No Raymond Massa and Alexander Massa Refinance 33,000,000 0 0 0 33,000,000 26,947,297 0 708,188 2,580,739
10 Loan 44, 45, 46 Tower at Frisco Square No Maxus Realty Trust, Inc. Refinance 32,000,000 0 0 0 32,000,000 24,010,561 0 1,353,381 2,227,474
11 Loan 47 The Standard No The Farbman Family #2, LLC and USMM Realty, LLC Refinance 31,000,000 0 0 0 31,000,000 19,908,000 0 345,417 3,885,198
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza No The Macerich Partnership, L.P. Refinance 487,000,000 0 53,000,000 0 540,000,000 428,649,060 0 6,113,399 0
13 Loan 8, 55, 56 4 West 58th Street No Sheldon H. Solow Recapitalization 125,000,000 0 0 0 125,000,000 0 0 4,200,083 13,706,435
14 Loan 8, 57, 58, 59 Redmond Town Center No Fairbourne Partners, LLC Recapitalization 101,500,000 47,641,961 0 0 149,141,961 0 144,882,040 908,273 3,351,648
15 Loan   Walgreens 9 Portfolio No The Richard L. Adams, Jr. Trust Refinance 30,000,000 0 0 0 30,000,000 28,811,094 0 212,126 0
15.01 Property   WAG Buffalo Grove                        
15.02 Property   WAG Nashville                        
15.03 Property   WAG Irmo                        
15.04 Property   WAG Sherman                        
15.05 Property   WAG Cleveland                        
15.06 Property   WAG Saginaw                        
15.07 Property   WAG Alice                        
15.08 Property   WAG Camden                        
15.09 Property   WAG Poplar Bluff                        
16 Loan 60 44 Whippany Fee No Shimon Katz Acquisition                  
17 Loan 8, 61, 62, 63 Cambridge Crossing No None Refinance                  
18 Loan 64 InCommercial Net Lease Portfolio Yes Erik Conrad Acquisition                  
18.01 Property   Walgreens - Grenada, MS                        
18.02 Property   Walgreens - Bastrop, LA                        
18.03 Property   Fresenius - Alexandria, LA                        
18.04 Property   Fresenius - Marksville, LA                        
18.05 Property   Dollar General - Otterbein, IN                        
18.06 Property   Dollar General - Chassell, MI                        
18.07 Property   Dollar General - Noel, MO                        
18.08 Property   Dollar General - El Dorado Springs, MO                        
18.09 Property   Dollar General - Montgomery City, MO                        
18.10 Property   Dollar General - Cambridge, MN                        
18.11 Property   Dollar General - Bemidji, MN                        
18.12 Property   Dollar General - Kingman, IN                        
18.13 Property   Dollar General - St Clair, MO                        
18.14 Property   Dollar General - Greenview, IL                        
18.15 Property   Dollar General - Warrensburg, IL                        
18.16 Property   Dollar General - Fairbank, IA                        
18.17 Property   Dollar General - St Charles, IA                        
18.18 Property   Dollar General - Pelican Rapids, MN                        
18.19 Property   Dollar General - Eolia, MO                        
19 Loan 65, 88 Best Western Plus Carriage Inn No Invest West Financial Corporation, CHM Hotels and Somera Capital Management, LLC Refinance                  
20 Loan 8, 37, 66, 67 JW Marriott Nashville No Jacquelyn Soffer Refinance                  
21 Loan 8, 68, 69, 70 White Oak Crossing No Stanley Werb and Jonathan S. Gaines Acquisition                  
22 Loan 8, 71, 72, 73 Willoughby Commons No Mitchell C. Schneider Refinance                  
23 Loan 8, 74 The Hub No The Related Companies, L.P. Refinance                  
24 Loan 75, 76 SVEA Texas Portfolio No Harry J. Kuper, Jr. and SVEA Real Estate Group, LLC Refinance                  
24.01 Property   4200 Jimmy Johnson Boulevard                        
24.02 Property   2220 Forum Drive                        
24.03 Property   4626 East Southcross Boulevard                        
24.04 Property   1919 Austin Avenue                        
24.05 Property   1470 Highway 44                        
24.06 Property   4602 East Southcross Boulevard                        
24.07 Property   2412 East Richardson Road                        
24.08 Property   11811 North D Street                        
25 Loan 77 Miramar Tech Center No Alejandro Velez Acquisition                  
26 Loan 78, 79 10 Railroad Avenue No Naftali Hager and Jacob Hager Acquisition                  

 

A-1-23

 

 

BMARK 2020-B21 Annex A-1

                               
Control Number Loan / Property Flag Footnotes Property Name Delaware Statutory Trust? Carve-out Guarantor Loan Purpose Loan Amount (sources) Principal’s New Cash Contribution (7) Subordinate Debt Other Sources Total Sources Loan Payoff Purchase Price Closing Costs Reserves
27 Loan 80, 81 Dearborn Flex Portfolio No Meshulam Martin Refinance                  
27.01 Property   5850 Mercury Drive                        
27.02 Property   15041 South Commerce Drive                        
28 Loan 44, 82 3100 Research Boulevard No Francis Greenburger Refinance                  
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago No Joshua Jacob Behar, Adela Dayan Harari, Isidoro Dayan Tawil and Marcos Dayan Tawil Acquisition                  
30 Loan 84 156 West 54th and 159 West 53rd Street No Hudson Capital Properties IV, LLC, Hudson Capital Properties V, LLC and Centerpark Realty LLC Acquisition                  
31 Loan 84 212 East 47th Street No Hudson Capital Properties IV, LLC, Hudson Capital Properties V, LLC and Centerpark Realty LLC Acquisition                  
32 Loan 85 Park Plaza Business Park No Juan M. Mitterhofer, Gian C. Mitterhofer and Wendy M. Velez Refinance                  
33 Loan 86 Franz Road Industrial No John W. Able Refinance                  
34 Loan   BJ’s Olean No Aurelio Baglione Acquisition                  
35 Loan   Rite Aid - Yucca Valley No Reisa Cheng Jiang Acquisition                  
36 Loan 78, 87 Omaha Sitel No Matthew Chapdelaine, James La Marche and Yaniv Blumenfeld Acquisition                  
37 Loan   CityLine Buffalo Storage No George Thacker, Lawrence Charles Kaplan and Richard Schontz Acquisition                  
38 Loan   CityLine Loveland CO No George Thacker, Lawrence Charles Kaplan and Richard Schontz Acquisition                  
39 Loan 84 455 Central Park West No Hudson Capital Properties IV, LLC, Hudson Capital Properties V, LLC and Centerpark Realty LLC Acquisition                  

 

A-1-24

 

 

BMARK 2020-B21 Annex A-1
                 
Control Number Loan / Property Flag Footnotes Property Name Principal Equity Distribution Other Uses Total Uses Lockbox Cash Management
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building 239,965,013 0 1,250,000,000 Hard Springing
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park 4,859,078 0 358,000,000 Hard Springing
3 Loan 20 Amazon West LA 42,980,764 0 168,000,000 Hard In Place
4 Loan 8, 21 32-42 Broadway 0 0 127,050,134 Hard Springing
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay 0 0 4,617,792,163 Hard Springing
5.01 Property   MGM Grand          
5.02 Property   Mandalay Bay          
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue 352,574 0 388,000,000 Soft (Residential) / Hard (Commercial Tenants) Springing
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue 0 0 605,294,721 Hard Springing
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive 0 0 90,925,720 Hard Springing
9 Loan 43 One Commerce Square 2,763,776 0 33,000,000 Hard Springing
10 Loan 44, 45, 46 Tower at Frisco Square 4,408,584 0 32,000,000 Hard Springing
11 Loan 47 The Standard 6,861,384 0 31,000,000 Hard Springing
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 105,237,541 0 540,000,000 Hard Springing
13 Loan 8, 55, 56 4 West 58th Street 107,093,482 0 125,000,000 Hard Springing
14 Loan 8, 57, 58, 59 Redmond Town Center 0 0 149,141,961 Hard Springing
15 Loan   Walgreens 9 Portfolio 976,780 0 30,000,000 Hard Springing
15.01 Property   WAG Buffalo Grove          
15.02 Property   WAG Nashville          
15.03 Property   WAG Irmo          
15.04 Property   WAG Sherman          
15.05 Property   WAG Cleveland          
15.06 Property   WAG Saginaw          
15.07 Property   WAG Alice          
15.08 Property   WAG Camden          
15.09 Property   WAG Poplar Bluff          
16 Loan 60 44 Whippany Fee       Hard Springing
17 Loan 8, 61, 62, 63 Cambridge Crossing       Hard Springing
18 Loan 64 InCommercial Net Lease Portfolio       Hard Springing
18.01 Property   Walgreens - Grenada, MS          
18.02 Property   Walgreens - Bastrop, LA          
18.03 Property   Fresenius - Alexandria, LA          
18.04 Property   Fresenius - Marksville, LA          
18.05 Property   Dollar General - Otterbein, IN          
18.06 Property   Dollar General - Chassell, MI          
18.07 Property   Dollar General - Noel, MO          
18.08 Property   Dollar General - El Dorado Springs, MO          
18.09 Property   Dollar General - Montgomery City, MO          
18.10 Property   Dollar General - Cambridge, MN          
18.11 Property   Dollar General - Bemidji, MN          
18.12 Property   Dollar General - Kingman, IN          
18.13 Property   Dollar General - St Clair, MO          
18.14 Property   Dollar General - Greenview, IL          
18.15 Property   Dollar General - Warrensburg, IL          
18.16 Property   Dollar General - Fairbank, IA          
18.17 Property   Dollar General - St Charles, IA          
18.18 Property   Dollar General - Pelican Rapids, MN          
18.19 Property   Dollar General - Eolia, MO          
19 Loan 65, 88 Best Western Plus Carriage Inn       Springing Springing
20 Loan 8, 37, 66, 67 JW Marriott Nashville       Hard Springing
21 Loan 8, 68, 69, 70 White Oak Crossing       Springing Springing
22 Loan 8, 71, 72, 73 Willoughby Commons       Springing Springing
23 Loan 8, 74 The Hub       Hard Springing
24 Loan 75, 76 SVEA Texas Portfolio       Hard Springing
24.01 Property   4200 Jimmy Johnson Boulevard          
24.02 Property   2220 Forum Drive          
24.03 Property   4626 East Southcross Boulevard          
24.04 Property   1919 Austin Avenue          
24.05 Property   1470 Highway 44          
24.06 Property   4602 East Southcross Boulevard          
24.07 Property   2412 East Richardson Road          
24.08 Property   11811 North D Street          
25 Loan 77 Miramar Tech Center       Springing Springing
26 Loan 78, 79 10 Railroad Avenue       Hard Springing

 

A-1-25

 

 

BMARK 2020-B21 Annex A-1

                 
Control Number Loan / Property Flag Footnotes Property Name Principal Equity Distribution Other Uses Total Uses Lockbox Cash Management
27 Loan 80, 81 Dearborn Flex Portfolio       Springing Springing
27.01 Property   5850 Mercury Drive          
27.02 Property   15041 South Commerce Drive          
28 Loan 44, 82 3100 Research Boulevard       Springing Springing
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago       Hard Springing
30 Loan 84 156 West 54th and 159 West 53rd Street       Springing Springing
31 Loan 84 212 East 47th Street       Springing Springing
32 Loan 85 Park Plaza Business Park       Springing Springing
33 Loan 86 Franz Road Industrial       Springing Springing
34 Loan   BJ’s Olean       Hard Springing
35 Loan   Rite Aid - Yucca Valley       Springing Springing
36 Loan 78, 87 Omaha Sitel       Hard Springing
37 Loan   CityLine Buffalo Storage       Springing Springing
38 Loan   CityLine Loveland CO       Springing Springing
39 Loan 84 455 Central Park West       Springing Springing

 

 

A-1-26

 

 

 

BMARK 2020-B21 Annex A-1
             
Control Number Loan / Property Flag Footnotes Property Name Cash Management Triggers Ground Lease Y/N Ground Lease Expiration Date
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building (i) the occurrence of an Event of Default, (ii) the occurrence of an Mezzanine Loan Event of Default or (iii) DY is less than 6% No  
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.0% No  
3 Loan 20 Amazon West LA (i) the occurrence of an event of default, (ii) the debt yield is less than 5.0%, (iii) the Mortgage Loan Debt Yield is less than 11.2%, (iv) the occurrence of a Specified Tenant Trigger Period, (v) the occurrence of a Mezzanine Cash Sweep Period No  
4 Loan 8, 21 32-42 Broadway (i) the occurrence of an Event of Default, (ii)as of any date of determination occurring on or after 18 months from the note date, the Debt Yield falling below 6.25%, (iii) the occurrence of a Specified Tenant Trigger Period No  
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay (i) the occurrence of an Event of Default, (ii) DSCR is less than 2.50x, (iii) the occurrence of an MGM/Mandalay Tenant Bankruptcy Event,(iv) the occurrence of an OpCo Trigger Event, (v) the occurrence of an ARD Failure Event    
5.01 Property   MGM Grand   No  
5.02 Property   Mandalay Bay   No  
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue (A) commencing upon the earliest of (i) the occurrence and continuance of an Event of Default, (ii) on or after the Debt Yield Testing Start Date, the Debt Yield is below the Required Debt Yield or (ii) the Mortgage-Only Debt Yield is below the Required MO Debt Yield , and (iii) Lender receiving written notice from Mezzanine Lender that a Mezzanine Trigger Period has occurred and is continuing. No  
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.0%, (iii) the occurrence of an Event of Default under any New Mezzanine Loan or Approved Mezzanine Loan, (iv) the occurrence of a Downgraded Tenant Sweep, (v) the occurrence of a Tenant Rollover Sweep, (vi) the occurrence of a TCO Renewal Failure No  
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive (i) the occurrence of an Event of Default, (ii) beginning with the fiscal quarter beginning on October 1, 2021, Debt Yield is less than 9.08%, (iii) failure to deliver financial statements as required in the Loan Agreement No  
9 Loan 43 One Commerce Square (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) the occurrence of a Specified Tenant Trigger Period Yes 12/23/2030 (Tower) 12/23/2040 (Garage)
10 Loan 44, 45, 46 Tower at Frisco Square (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.25%, (iii) the occurrence of a Specified Tenant Trigger Period No  
11 Loan 47 The Standard (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.25x or (iv) a Tenant Trigger Event No  
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza (i) the occurrence of an Event of Default, (ii) Combined Loan DSCR is less than 1.25x, (ii) Mortgage loan DSCR is less than 1.43x,(iv) the occurrence of a Mezzanine Loan Event of Default Yes 5/28/2028
13 Loan 8, 55, 56 4 West 58th Street (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.50x, (iv) the occurrence of a Tenant Trigger Event Yes 9/14/2052
14 Loan 8, 57, 58, 59 Redmond Town Center (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 8.0% No  
15 Loan   Walgreens 9 Portfolio (i) the occurrence of an Event of Default, (ii) Specified Tenant Trigger Event    
15.01 Property   WAG Buffalo Grove   No  
15.02 Property   WAG Nashville   No  
15.03 Property   WAG Irmo   No  
15.04 Property   WAG Sherman   No  
15.05 Property   WAG Cleveland   No  
15.06 Property   WAG Saginaw   No  
15.07 Property   WAG Alice   No  
15.08 Property   WAG Camden   No  
15.09 Property   WAG Poplar Bluff   No  
16 Loan 60 44 Whippany Fee (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) the occurrence of a Specified Tenant Trigger Period Yes 10/31/2119
17 Loan 8, 61, 62, 63 Cambridge Crossing (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.75x on or after December 31, 2021, (iii) the commencement of a Lease Sweep Period, (iv) the occurrence of the Anticipated Repayment Date No  
18 Loan 64 InCommercial Net Lease Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.30x, (iii) the occurrence of a Specified Tenant Trigger Period    
18.01 Property   Walgreens - Grenada, MS   No  
18.02 Property   Walgreens - Bastrop, LA   No  
18.03 Property   Fresenius - Alexandria, LA   No  
18.04 Property   Fresenius - Marksville, LA   No  
18.05 Property   Dollar General - Otterbein, IN   No  
18.06 Property   Dollar General - Chassell, MI   No  
18.07 Property   Dollar General - Noel, MO   No  
18.08 Property   Dollar General - El Dorado Springs, MO   No  
18.09 Property   Dollar General - Montgomery City, MO   No  
18.10 Property   Dollar General - Cambridge, MN   No  
18.11 Property   Dollar General - Bemidji, MN   No  
18.12 Property   Dollar General - Kingman, IN   No  
18.13 Property   Dollar General - St Clair, MO   No  
18.14 Property   Dollar General - Greenview, IL   No  
18.15 Property   Dollar General - Warrensburg, IL   No  
18.16 Property   Dollar General - Fairbank, IA   No  
18.17 Property   Dollar General - St Charles, IA   No  
18.18 Property   Dollar General - Pelican Rapids, MN   No  
18.19 Property   Dollar General - Eolia, MO   No  
19 Loan 65, 88 Best Western Plus Carriage Inn (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.30x, (iii) the occurrence of a Mezzanine Trigger Period No  
20 Loan 8, 37, 66, 67 JW Marriott Nashville (i) the occurrence of an Event of Default, (ii) beginning on September 30, 2022, Debt Yield is less than 7.5% at the conclusion of any two consecutive fiscal quarters, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Debt Service Withdrawal Yes 3/6/2030
21 Loan 8, 68, 69, 70 White Oak Crossing (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.10x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event No  
22 Loan 8, 71, 72, 73 Willoughby Commons (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.10x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event No  
23 Loan 8, 74 The Hub (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.75%, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Major Tenant Trigger Period No  
24 Loan 75, 76 SVEA Texas Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.30x, (iii) the commencement of a Mezzanine Trigger Period, (iv) the commencement of a Lease Sweep Period    
24.01 Property   4200 Jimmy Johnson Boulevard   No  
24.02 Property   2220 Forum Drive   No  
24.03 Property   4626 East Southcross Boulevard   No  
24.04 Property   1919 Austin Avenue   No  
24.05 Property   1470 Highway 44   No  
24.06 Property   4602 East Southcross Boulevard   No  
24.07 Property   2412 East Richardson Road   No  
24.08 Property   11811 North D Street   No  
25 Loan 77 Miramar Tech Center (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.15x, (iii) the occurrence of a Specified Tenant Trigger Period No  
26 Loan 78, 79 10 Railroad Avenue (i) the occurrence of an Event of Default, (ii) bankruptcy action of borrower or manager, (iii) DSCR is less than 1.20x, (iii) the occurrence of a Capital Trigger Event No  

 

 

A-1-27

 

 

BMARK 2020-B21 Annex A-1

             
Control Number Loan / Property Flag Footnotes Property Name Cash Management Triggers Ground Lease Y/N Ground Lease Expiration Date
27 Loan 80, 81 Dearborn Flex Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) the occurrence of a Specified Tenant Trigger Period, (iv) the occurrence of a Roof Trigger Period    
27.01 Property   5850 Mercury Drive   No  
27.02 Property   15041 South Commerce Drive   No  
28 Loan 44, 82 3100 Research Boulevard (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.55x, (iv) the occurrence of a Tenant Trigger Event No  
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 8.0%, (iii) the occurrence of a Specified Tenant Trigger Period No  
30 Loan 84 156 West 54th and 159 West 53rd Street (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) the occurrence of a Specified Tenant Trigger Period No  
31 Loan 84 212 East 47th Street (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) the occurrence of a Specified Tenant Trigger Period No  
32 Loan 85 Park Plaza Business Park (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.25x No  
33 Loan 86 Franz Road Industrial (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.25x, (iii) the commencement of a DS Reimbursement Period, (iv) the commencement of a Mezzanine Trigger Period No  
34 Loan   BJ’s Olean (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.30x, (iv) the occurrence of a BJ’s Trigger event or (v) the occurrence of a Downgrade Trigger Event No  
35 Loan   Rite Aid - Yucca Valley (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 8.0%, (iii) the occurrence of a Specified Tenant Trigger Period No  
36 Loan 78, 87 Omaha Sitel (i) the occurrence of an Event of Default, (ii) Bankruptcy Action of Borrower or Manager, (iii) DSCR is less than 1.20x, (iv) the occurrence of a Sitel Group Trigger Event No  
37 Loan   CityLine Buffalo Storage (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x No  
38 Loan   CityLine Loveland CO (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x No  
39 Loan 84 455 Central Park West (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) the occurrence of a Specified Tenant Trigger Period No  

 

 

A-1-28

 

 

 

BMARK 2020-B21 Annex A-1
                       
Control Number Loan / Property Flag Footnotes Property Name Annual Ground Lease Payment ($) Cut-off Date Pari Passu Companion Loan Balance ($) Cut-off Date Subordinate Companion Loan Balance ($) Subordinate Companion Loan Interest Rate Cut-off Date Mezzanine Debt Balance ($) Terrorism Insurance Required Franchise Agreement Expiration Control Number
1 Loan 8, 9, 10, 11, 12, 13, 14 The Grace Building   783,000,000 367,000,000 2.69210%   Yes NAP 1
2 Loan 8, 10, 15, 16, 17, 18, 19 McClellan Business Park   283,000,000       Yes NAP 2
3 Loan 20 Amazon West LA         93,000,000 Yes NAP 3
4 Loan 8, 21 32-42 Broadway   50,000,000       Yes NAP 4
5 Loan 8, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31 MGM Grand & Mandalay Bay   1,559,200,000 1,365,800,000 3.55800%   Yes NAP 5
5.01 Property   MGM Grand           Yes NAP 5.01
5.02 Property   Mandalay Bay           Yes NAP 5.02
6 Loan 8, 32, 33, 34, 35 416-420 Kent Avenue   156,900,000 81,100,000 3.34832% 90,000,000 Yes NAP 6
7 Loan 8, 36, 37, 38, 39 711 Fifth Avenue   485,000,000       Yes NAP 7
8 Loan 40, 41, 42 3170 & 3180 Fairview Park Drive           Yes NAP 8
9 Loan 43 One Commerce Square $100 (Tower); $100 (Garage)         Yes NAP 9
10 Loan 44, 45, 46 Tower at Frisco Square           Yes NAP 10
11 Loan 47 The Standard           Yes NAP 11
12 Loan 8, 48, 49, 50, 51, 52, 53, 54 Kings Plaza 122,957 457,000,000     53,000,000 Yes NAP 12
13 Loan 8, 55, 56 4 West 58th Street 63,000 95,000,000       Yes NAP 13
14 Loan 8, 57, 58, 59 Redmond Town Center   71,500,000       Yes NAP 14
15 Loan   Walgreens 9 Portfolio           Yes NAP 15
15.01 Property   WAG Buffalo Grove           Yes NAP 15.01
15.02 Property   WAG Nashville           Yes NAP 15.02
15.03 Property   WAG Irmo           Yes NAP 15.03
15.04 Property   WAG Sherman           Yes NAP 15.04
15.05 Property   WAG Cleveland           Yes NAP 15.05
15.06 Property   WAG Saginaw           Yes NAP 15.06
15.07 Property   WAG Alice           Yes NAP 15.07
15.08 Property   WAG Camden           Yes NAP 15.08
15.09 Property   WAG Poplar Bluff           Yes NAP 15.09
16 Loan 60 44 Whippany Fee $1,751,047 for years 1-10; increasing by 2% of Annual Basic Rent for the previous Lease Year for years 11-99         Yes NAP 16
17 Loan 8, 61, 62, 63 Cambridge Crossing   270,000,000 140,000,000 2.69800%   Yes NAP 17
18 Loan 64 InCommercial Net Lease Portfolio           Yes NAP 18
18.01 Property   Walgreens - Grenada, MS           Yes NAP 18.01
18.02 Property   Walgreens - Bastrop, LA           Yes NAP 18.02
18.03 Property   Fresenius - Alexandria, LA           Yes NAP 18.03
18.04 Property   Fresenius - Marksville, LA           Yes NAP 18.04
18.05 Property   Dollar General - Otterbein, IN           Yes NAP 18.05
18.06 Property   Dollar General - Chassell, MI           Yes NAP 18.06
18.07 Property   Dollar General - Noel, MO           Yes NAP 18.07
18.08 Property   Dollar General - El Dorado Springs, MO           Yes NAP 18.08
18.09 Property   Dollar General - Montgomery City, MO           Yes NAP 18.09
18.10 Property   Dollar General - Cambridge, MN           Yes NAP 18.10
18.11 Property   Dollar General - Bemidji, MN           Yes NAP 18.11
18.12 Property   Dollar General - Kingman, IN           Yes NAP 18.12
18.13 Property   Dollar General - St Clair, MO           Yes NAP 18.13
18.14 Property   Dollar General - Greenview, IL           Yes NAP 18.14
18.15 Property   Dollar General - Warrensburg, IL           Yes NAP 18.15
18.16 Property   Dollar General - Fairbank, IA           Yes NAP 18.16
18.17 Property   Dollar General - St Charles, IA           Yes NAP 18.17
18.18 Property   Dollar General - Pelican Rapids, MN           Yes NAP 18.18
18.19 Property   Dollar General - Eolia, MO           Yes NAP 18.19
19 Loan 65, 88 Best Western Plus Carriage Inn           Yes 12/31/2020 19
20 Loan 8, 37, 66, 67 JW Marriott Nashville 1 165,000,000       Yes 7/1/2048 20
21 Loan 8, 68, 69, 70 White Oak Crossing   43,375,000       Yes NAP 21
22 Loan 8, 71, 72, 73 Willoughby Commons   16,950,000       Yes NAP 22
23 Loan 8, 74 The Hub   25,000,000       Yes NAP 23
24 Loan 75, 76 SVEA Texas Portfolio           Yes NAP 24
24.01 Property   4200 Jimmy Johnson Boulevard           Yes NAP 24.01
24.02 Property   2220 Forum Drive           Yes NAP 24.02
24.03 Property   4626 East Southcross Boulevard           Yes NAP 24.03
24.04 Property   1919 Austin Avenue           Yes NAP 24.04
24.05 Property   1470 Highway 44           Yes NAP 24.05
24.06 Property   4602 East Southcross Boulevard           Yes NAP 24.06
24.07 Property   2412 East Richardson Road           Yes NAP 24.07
24.08 Property   11811 North D Street           Yes NAP 24.08
25 Loan 77 Miramar Tech Center           Yes NAP 25
26 Loan 78, 79 10 Railroad Avenue           Yes NAP 26

 

A-1-29

 

 

BMARK 2020-B21 Annex A-1

                       
Control Number Loan / Property Flag Footnotes Property Name Annual Ground Lease Payment ($) Cut-off Date Pari Passu Companion Loan Balance ($) Cut-off Date Subordinate Companion Loan Balance ($) Subordinate Companion Loan Interest Rate Cut-off Date Mezzanine Debt Balance ($) Terrorism Insurance Required Franchise Agreement Expiration Control Number
27 Loan 80, 81 Dearborn Flex Portfolio           Yes NAP 27
27.01 Property   5850 Mercury Drive           Yes NAP 27.01
27.02 Property   15041 South Commerce Drive           Yes NAP 27.02
28 Loan 44, 82 3100 Research Boulevard           Yes NAP 28
29 Loan 83 Walmart Neighborhood Market & Shops - Chicago           Yes NAP 29
30 Loan 84 156 West 54th and 159 West 53rd Street           Yes NAP 30
31 Loan 84 212 East 47th Street           Yes NAP 31
32 Loan 85 Park Plaza Business Park           Yes NAP 32
33 Loan 86 Franz Road Industrial           Yes NAP 33
34 Loan   BJ’s Olean           Yes NAP 34
35 Loan   Rite Aid - Yucca Valley           Yes NAP 35
36 Loan 78, 87 Omaha Sitel           Yes NAP 36
37 Loan   CityLine Buffalo Storage           Yes NAP 37
38 Loan   CityLine Loveland CO           Yes NAP 38
39 Loan 84 455 Central Park West           Yes NAP 39

 

A-1-30

 

 

Footnotes to Annex A-1
   
(1) The Administrative Cost Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.
   
(2) The Monthly Debt Service shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period.
   
(3) The open period is inclusive of the Maturity Date or Anticipated Repayment Date.
   
(4) Underwritten NCF DSCR is calculated based on amortizing debt service payments (except for interest-only loans).
   
(5) Occupancy reflects tenants that have signed leases, but are not yet in occupancy or may not be paying rent.
   
(6) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease.
   
(7) If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field “Principal’s New Cash Contribution” reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field “Principal’s New Cash Contribution” reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated.
   
(8) The Mortgage Loan is part of a whole loan structure. Cut-off Date LTV Ratio, LTV Ratio at Maturity / ARD, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the Mortgage Loan and any related Pari Passu Companion Loans, but exclude any related Subordinate Companion Loans.
   
(9) The Grace Building Whole Loan was co-originated by JPMorgan Chase Bank, National Association, Bank of America, N.A, Column Financial, Inc. and DBR Investments Co. Limited.
   
(10) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.), Remaining Interest-Only Period (Mos.), Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 120 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.), Remaining Interest-Only Period (Mos.), Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 121 months.
   
(11) The lockout period will be 24 payments beginning with and including the adjusted first payment date of December 6, 2020 (the actual first payment date is January 6, 2021; see footnote #10 above). The borrower may defease the Whole Loan after the earlier to occur of (a) two years from the securitization of the last note to be securitized or (b) three years after the Origination Date (the “Defeasance Lockout Expiration Date”). In addition, the borrower may prepay the Whole Loan, in whole but not in part, on a business day on or after the Defeasance Lockout Expiration Date, with the payment of a prepayment fee equal to the greater of the yield maintenance amount or 1% of the unpaid principal balance as of such prepayment date. The assumed lockout period of 24 payments is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(12) The Largest Tenant, Bank of America, N.A., is one of the originating lenders of the Whole Loan.
   
(13) The Underwritten NOI is more than 10% higher than the most recent NOI because of recent turnovers of some of the largest tenant spaces, including four of the five largest tenants moving out between 2016 and 2018.
   
(14) The aggregate liability of the Carve-out Guarantors with respect to the guaranteed recourse obligations of the borrower related to any bankruptcy event with respect to the borrower may not exceed an amount equal to 15% of the principal balance of The Grace Building Whole Loan outstanding at the time of the occurrence of such event, plus any and all reasonable third-party costs actually incurred by the lender (including reasonable attorneys’ fees and costs reasonably incurred) in connection with the collection of amounts due thereunder.
   
(15) The McClellan Business Park Whole Loan was co-originated by Goldman Sachs Bank USA and Wells Fargo Bank, National Association.
   
(16) Yield Maintenance of the full $358 million McClellan Business Park Whole Loan is permitted at any time. In addition, defeasance of the full McClellan Business Park Whole Loan is permitted at any time after the defeasance lockout period, which date is the earlier to occur of (a) January 11, 2024 and (b) the second anniversary of the closing date of the securitization which includes the last pari passu note to be securitized. The assumed defeasance lockout period of 24 payment dates is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(17) The Fifth Largest Tenant, Northrop Grumman Systems, leases 254,511 SF with a lease expiration date of December 31, 2021, 8,250 SF with a lease expiration date of November 30, 2022 and 4,857 SF with a lease expiration date of July 31, 2022.
   
(18) The increase from the Most Recent NOI (if past 2019) to Underwritten Net Operating Income is primarily attributable to (i) contractual rent steps through October 2021 and the straight line average of contractual rent step increments over the lease term for investment grade tenants, (ii) increase in rental rates on rolling leases, (iii) occupancy increases, including the lease up to Amazon.com of a newly built 400,000 SF last mile distribution center and (iv) a management fee cap at $1,000,000.
   
(19) There is subordinate mortgage financing on the Mortgaged Property in the original principal amount of $1,000,000 made by the Redevelopment Agency of the County of Sacramento to MP Holdings, LLC (the “Development Agency Loan”), of which an estimated $639,220.10 is outstanding as of the Cut-off Date. The Development Agency Loan has a 10-year loan forgiveness term, an interest rate of 4% per annum, and all payments of interest and principal are deferred until maturity (if not forgiven). The scheduled maturity date of the Development Agency Loan is March 1, 2023. Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow, Cut-off Date LTV Ratio, LTV Ratio at Maturity / ARD and Loan Per Unit calculations include the related Pari Passu Companion Loan but exclude the related subordinate debt represented by the Development Agency Loan.
   
(20) Concurrently with the origination of the Amazon West LA Loan, Citigroup Global Markets Realty Corp. made a $93,000,000 mezzanine loan to, Playa Vista Mezz, LLC, the sole member of the borrower, which is secured by the sole member’s ownership interest in the borrower. The Amazon West LA Mezzanine Loan is coterminous with the Amazon West LA Loan and accrues interest at a fixed per annum rate equal to 5.10000%.
   
(21) The lockout period will be at least 24 payment dates beginning with and including the first payment date of December 6, 2020. Defeasance of the 32-42 Broadway Loan in full is permitted after the date that is the earlier to occur of (i) November 3, 2024 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 24 payments is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(22) The MGM Grand & Mandalay Bay Whole Loan was co-originated by Citi Real Estate Funding Inc., Barclays Capital Real Estate Inc., Deutsche Bank AG, acting through its New York Branch and Société Générale Financial Corporation.
   
(23) Each of the related Mortgaged Properties consist of a resort and casino and, as of the trailing 12 months ending June 30, 2020 (i) with respect to the MGM Grand Mortgaged Property, approximately 26.2% of the revenues were from hotel rooms, approximately 27.4% of the revenues were from food and beverage sales, approximately 24.4% of the revenues were from gaming, and approximately 22.0% of the revenues were from other sources and (ii) with respect to the Mandalay Bay Mortgaged Property, approximately 33.8% of the revenues were from hotel rooms, approximately 29.8% of the revenues were from food and beverage sales, approximately 13.6% of the revenues were from gaming, and approximately 22.8% of the revenues were from other sources.

 

A-1-31

 

 

   
(24) The MGM Grand & Mandalay Bay Whole Loan is structured with an Anticipated Repayment Date (“ARD”) of March 5, 2030 and a final maturity date of March 5, 2032. After the ARD, the following structure will apply: (i) the interest rate will increase by 200 basis points over the greater of (x) 3.55800%, and (y) (1) the ARD Treasury Note Rate in effect on the ARD (such new rate, the “Adjusted Interest Rate”) plus (2) 1.77000%, (ii) amounts in the Excess Cash Flow Reserve Account (as defined in the related loan agreement) will be applied first to pay monthly additional interest amounts which, to the extent not paid, will be deferred (together with interest accrued thereon at the Adjusted Interest Rate) and added to the principal balance of the applicable note(s) comprising a portion of the MGM Grand & Mandalay Bay Whole Loan in the manner set forth in the MGM Grand & Mandalay Bay Whole Loan documents, and (iii) a full cash flow sweep to the extent of remaining amounts in the Excess Cash Flow Reserve will be applied to principal of the MGM Grand & Mandalay Bay Whole Loan in the manner set forth in the MGM Grand & Mandalay Bay Whole Loan documents.
   
(25) The Appraised Value of $4,600,000,000 as of January 10, 2020, set forth above is the appraised value solely with respect to real property at the MGM Grand & Mandalay Bay Mortgaged Properties, excluding personal property and intangible property attributable to the MGM Grand & Mandalay Bay Properties (the “Aggregate Real Property Appraised Value”). The appraisal also includes an “As Leased–Sale–Leaseback Appraised Value,” which is equal to the Aggregate Real Property Appraised Value. The Appraised Value of $7,352,600,000 (“Aggregate As Is Appraised Value”) as of January 10, 2020, includes personal property and intangible property attributable to the MGM Grand & Mandalay Bay Mortgaged Properties. The personal property and intangible property relating to the MGM Grand & Mandalay Bay Mortgaged Properties is owned by the MGM tenant or certain sublessees at the MGM Grand & Mandalay Bay Mortgaged Properties that are wholly owned subsidiaries of MGM (the “MGM/Mandalay Operating Subtenants”) (as more particularly provided in the master lease), which granted a security interest in certain property of the MGM tenant and the MGM/Mandalay Operating Subtenants (with certain exclusions, including an exclusion for the intellectual property of MGM tenant (as more particularly described in the master lease); and provided that the FF&E is only transferred to the MGM Grand & Mandalay Bay Borrowers at no cost in the event of a termination of the master lease due to an event of default by the MGM tenant thereunder) in favor of the MGM Grand & Mandalay Bay Borrowers, and such security interest was collaterally assigned by the MGM Grand & Mandalay Bay Borrowers to the lender.
   
(26) The Mortgage Loan Cut-off Date LTV Ratio and the Mortgage Loan LTV Ratio at Maturity / ARD are based on the “Aggregate As Is Appraised Value” and are 22.2% and 22.2%, respectively, based on the MGM Grand & Mandalay Bay Senior Loan. The Mortgage Loan Cut-off Date LTV Ratio and the Mortgage Loan LTV Ratio at Maturity / ARD based on the “Aggregate Real Property Appraised Value” are 35.5% and 35.5%, respectively, based on the MGM Grand & Mandalay Bay Senior Loan.
   
(27) The defeasance lockout period will be at least 32 payment dates beginning with and including the First Payment Date of April 5, 2020. The MGM Grand & Mandalay Bay Borrowers have the option to defease the MGM Grand & Mandalay Bay Whole Loan, in whole or in part, after the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized and (ii) February 14, 2023. The MGM Grand & Mandalay Bay Whole Loan may be prepaid in whole or in part at any time, subject to payment of the applicable yield maintenance premium if such prepayment occurs prior to September 5, 2029 (provided no yield maintenance will be due in connection with mandatory prepayments arising out of any casualty, condemnation or in connection with a special release or a Default Release (as defined in the related loan agreement)). The assumed lockout period of 32 payment dates is based on the expected Benchmark 2020–B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(28) Under the Master Lease, MGM Lessee II, LLC, (the “MGM Tenant”) is required to pay to the MGM Grand & Mandalay Bay Borrowers an initial lease rent of $292.0 million per annum ($159.0 million allocated to the MGM Grand Property and $133.0 million allocated to the Mandalay Bay Property, the “Master Lease Rent”), subject to annual increases of (i) 2.0% in years 2 through 15 of the initial lease term, and (ii) thereafter, the greater of 2.0% or CPI (CPI capped at 3.0%) for the remainder of the initial lease term. Additionally, MGM Resorts International (“MGM”) will be required to continue to invest in the MGM Grand & Mandalay Bay Properties, with (x) a minimum aggregate capital investment requirement of 3.5% of actual net revenues every five years (the first such period beginning January 1, 2020 and expiring December 31, 2024, and the second such period beginning January 1, 2021 and expiring December 31, 2025, and each five-year period thereafter on a rolling basis) in the aggregate for the MGM Grand & Mandalay Bay Properties (such amount not to be less than 2.5% of the actual net revenue of any individual Mortgaged Property) (collectively, the “Required CapEx”) and (y) a monthly reserve equal to 1.5% of actual net revenues which may be used for FF&E and on qualifying capital expenditures in satisfaction of the Required CapEx spend. The Mortgaged Properties were acquired in a sale-leaseback transaction.
   
(29) Mortgage Loan Cut-off Date LTV Ratio and Mortgage Loan LTV Ratio at Maturity / ARD is calculated using the appraised value of $4,600,000,000 as of January 10, 2020, set forth above, which is the appraised value solely with respect to real property at the MGM Grand & Mandalay Bay Properties, excluding personal property and intangible property attributable to the MGM Grand & Mandalay Bay Properties.
   
(30) The increase by 10% or more from Most Recent NOI (if past 2019) to Underwritten Net Operating Income is a result of the temporary closure of the MGM Grand & Mandalay Bay Properties due to COVID-19. On May 1, 2020, MGM Resorts International reported that, as a result of the temporary closure of its domestic properties (which includes the MGM Grand & Mandalay Bay Properties) following the outbreak of COVID-19, its domestic properties (which includes the MGM Grand & Mandalay Bay Properties) were effectively generating no revenue, there were high levels of room and convention cancellation through the third quarter of 2020, and that, following the re-opening of its domestic properties (which includes the MGM Grand & Mandalay Bay Properties), it expected weakened demand in light of consumer fears and general economic uncertainty, among other things.
   
(31) The Guarantors’ liability for full recourse events is several and not joint and is capped at an amount equal to 10% of the aggregate outstanding principal balance of the MGM Grand & Mandalay Bay Whole Loan as of the date of the event. In addition, only the MGM Grand & Mandalay Bay Borrowers are liable for breaches of environmental covenants; provided, however, that if the MGM Grand & Mandalay Bay Borrowers fail to maintain an environmental insurance policy required under the MGM Grand & Mandalay Bay Whole Loan documents, the Guarantor is liable for losses other than (x) for any amounts in excess of the applicable coverage amounts under the environmental policy had the same been renewed, replaced or extended as required under the loan agreement and (y) for any amounts recovered under the environmental
policy. In addition, recourse for transfers of the MGM Grand & Mandalay Bay properties or controlling equity interests in the MGM Grand & Mandalay Bay Borrowers is loss recourse, rather than full recourse.
   
(32) The 416-420 Kent Avenue Property has a total of 857 residential units. There is one resident manager unit located at 420 Kent with no income associated and, therefore, the Property has a total of 856 “income producing” units. The occupancy figures presented in this Annex A exclude the resident manager unit.
   
(33) The increase from Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the 416-420 Kent Avenue Mortgaged Property is primarily attributable to 416 Kent Avenue beginning lease-up in January 2019 and 420 Kent Avenue beginning lease-up in September 2019 following the completion of their construction.
   
(34) The lockout period will be at least 24 payment dates beginning with and including the first payment date of December 6, 2020. Defeasance of the 416-420 Kent Avenue Whole Loan in full is permitted after the date that is the earlier to occur of (i) October 30, 2023 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 24 payments is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(35) The 416-420 Kent Avenue Junior Non-Trust Note, with an aggregate outstanding principal balance as of the Cut-off Date of $81,100,000, accrues interest at a fixed interest rate of 3.34832% per annum. Concurrently with the origination of the 416-420 Kent Avenue Whole Loan, SRA RX 420 Kent LLC made a $90,000,000 mezzanine loan to 420 Kent Avenue Holding LLC. The 416-420 Kent Avenue Mezzanine Loan is secured by a pledge of the mezzanine borrower’s ownership interest in the 416-420 Kent Avenue Whole Loan borrower. The 416-420 Kent Avenue Mezzanine Loan accrues interest at a fixed interest rate of 5.08000% per annum. The 416-420 Kent Avenue Junior Non-Trust Note and the 416-420 Kent Avenue Mezzanine Loan each has a 120-month term and is interest-only for the full term.
   
(36) The 711 Fifth Avenue Whole Loan was co-originated by Goldman Sachs Bank USA and Bank of America, N.A.
   
(37) The lockout period will be at least 32 payment dates beginning with and including the First Due Date in April 2020. For the purpose of this prospectus, the assumed lockout period of 32 payment dates is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(38) At origination, the borrower funded $2,000,000 at origination for estimated costs in connection with obtaining a new temporary or permanent certificate of occupancy to replace the temporary certificate of occupancy that expired in November 2019. The borrower obtained a temporary certificate of occupancy that was effective as of March 24, 2020, and the $2,000,000 has been disbursed to the borrower.

 

A-1-32

 

 

   
(39) The Third Largest Tenant, Ralph Lauren, representing approximately 11.4% of the net rentable area, is dark with respect to 31,202 square feet of its space. The tenant continues to operate the 7,436 square foot Polo Bar, which is open for takeout and delivery, at the mortgaged property. If the borrower believes the tenant has ceased retail operations in all of the premises under the related lease, the borrower may give notice thereof to the tenant. Within 30 days after the borrower gives such notice, the tenant must notify the borrower whether the tenant intends to cease retail operations at the premises. If the tenant notifies the borrower of its intent to cease such retail operations, the borrower has the right to terminate the lease.

According to a media report, Ralph Lauren has agreed to sublease its entire space to Mango, a Spanish retail chain, for $5 million per year. Pursuant to the terms of the lease and the loan documents, the tenant may not sublease the space to an unaffiliated third party without the consent of the borrower and the lender (in each case, which consent may not be unreasonably withheld, conditioned or delayed). It is not expected that any such sublease arrangement will relieve the Ralph Lauren tenant of its obligations under the lease (including the obligation to pay rent). We cannot assure you that such sublease will be executed or approved.
   
(40) The Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD are calculated utilizing the “as stabilized” appraised value of $90,000,000 as of September 1, 2021, which assumes that both Sheet Metal Workers National Pension and Balfour Beatty Construction, LLC accept delivery at the Mortgaged Property and are paying unabated rent as of September 1, 2021. The Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD calculated based on the “as-is” appraised value of $85,400,000, as of August 26, 2020, are 61.5% and 55.1%, respectively.
   
(41) Occupancy is based on the “as stabilized” occupancy inclusive of two signed not opened tenants as of July 1, 2021. The “as stabilized” occupancy assumes that both Sheet Metal Workers National Pension and Balfour Beatty Construction, LLC accept delivery at the Mortgaged Property and are paying unabated rent as of September 1, 2021. We cannot assure you that Sheet Metal Workers National Pension and Balfour Beatty Construction, LLC will accept delivery and commence paying rent as expected or at all.
   
(42) The increase from the Most Recent NOI (if past 2019) to Underwritten Net Operating Income is primarily attributed to new recent leasing of Sheet Metal Workers National Pension and Balfour Beatty Construction, LLC, which commenced in February 2021 and July 2021, respectively. Further, the Second Largest Tenant at the Mortgaged Property is Capital Caring Health, whose lease commencement and free rent period began in September 2019, but is not required to pay base rent until June 2021.
   
(43) The One Commerce Square mortgage loan is a fixed rate loan secured by first lien mortgages on (i) the borrower’s PILOT leasehold interest in an office tower, as well as the fee simple interest in such office tower owned by Memphis Center City Revenue Finance Corporation (“CCRFC”), (ii) the borrower’s subleasehold interest in an adjacent parking garage with the Parking Authority of the City of Memphis and County of Shelby, Tennessee (the “Parking Authority”), with the prime lease being a PILOT lease where CCRFC is the fee simple owner and landlord and the Parking Authority is the ground lease tenant, and (iii) the borrower’s fee simple interest in a third adjacent office building, each located in downtown Memphis, Tennessee.
   
(44) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) are each 60 months, and the Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 120 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) of 61 months, and an Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 121 months.
   
(45) The Fourth Largest Tenant at the Tower at Frisco Square Mortgaged Property, Scoreboard Ventures, subleases 100.0% of its space from Blue Star Sports/Spay Inc. The sublease runs coterminous to the main lease and expires on November 29, 2023.
   
(46) The increase from Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the Tower at Frisco Square Mortgaged Property is primarily attributable to the inclusion of contractual rent steps through October 2021 and potential income from vacant space.
   
(47) Scott C. Barry, who owns a 28% indirect equity ownership in the borrower, is an executive of the Second Largest Tenant, Centria Healthcare.
   
(48) The Kings Plaza Whole Loan was co-originated by JPMorgan Chase Bank, National Association, Société Générale Financial Corporation and Wells Fargo Bank, National Association.
   
(49) The lockout period will be 34 payments beginning with and including the first payment date of February 1, 2020. The borrower may prepay the Whole Loan after the earlier to occur of (a) two years from the securitization of the last note to be securitized or (b) February 1, 2023, with the payment of a yield maintenance premium. The assumed lockout period of 34 payments is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(50) A portion of the collateral, including the parking garage ingress/egress, the Marina Building and a portion of the ground under the parking garage, is subject to a ground lease.
   
(51) The borrower and the Fifth Largest Tenant, Best Buy, have entered into a lease amendment, pursuant to which the lease term expires in December 2022 (instead of the original expiration date of January 2032), and the tenant’s rent payment obligations have been accelerated without incurring any losses to the borrower in total rent obligations under the lease.
   
(52) JCPenney declared bankruptcy on May 15, 2020 and announced plans to close a number of stores in connection with the restructuring, including its store at the Kings Plaza Mortgaged Property. For additional information, please see “Description of the Mortgage Pool–Mortgage Pool Characteristics–Tenant Issues–Lease Expirations and Terminations–Other” in this Preliminary Prospectus.
   
(53) Though currently in occupancy and paying rent, Forever 21 has been underwritten as vacant. Forever 21 has been in occupancy at the Mortgaged Property since 2010 pursuant to a lease that expired in January 2020. Forever 21 filed for Chapter 11 bankruptcy in September 2019. Forever 21 and the borrower are currently negotiating a 3-year renewal, which is pending court approval.
   
(54) Concurrently with the origination of the Kings Plaza Whole Loan, JPMorgan Chase Bank, National Association, Société Générale Financial Corporation and Wells Fargo Bank, National Association collectively provided a $53,000,000 mezzanine loan (the “Kings Plaza Mezzanine Loan”) to the Kings Plaza mezzanine borrower, Kings Plaza Mezz Borrower LLC. The Kings Plaza Mezzanine Loan has been sold to a third-party investor. The Kings Plaza Mezzanine Loan is coterminous with the King Plaza Whole Loan and accrues interest at a fixed per annum rate equal to 6.00000%.
   
(55) The lockout period will be 32 payments beginning with and including the first payment date of April 1, 2020. The borrower may defease the whole loan after the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized and (ii) February 28, 2023. The assumed lockout period of 32 payments is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(56) The Largest Tenant, The Neiman Marcus Group LLC. (“Neiman Marcus”), filed bankruptcy under Chapter 11 of the Bankruptcy Code on May 7, 2020. On June 6, 2020, Neiman Marcus filed its plan of reorganization and disclosure statement, which was approved by the bankruptcy court on July 30, 2020. On September 25, 2020, Neiman Marcus emerged from bankruptcy. Neiman Marcus has elected to assume its lease at the Mortgaged Property. See “Description of the Mortgage Pool–Litigation and Other Considerations” in this Preliminary Prospectus for additional information.
   
(57) The Mortgaged Property consists of 314,547 SF of retail space that is 91.7% occupied and accounts for 78.9% of underwritten gross potential rent. The Mortgaged Property also consists of 71,868 SF of office space that is 98.0% occupied and accounts for 17.2% of gross potential rent.
   
(58) The increase from Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the Redmond Town Center Mortgaged Property is primarily attributable to the inclusion of contractual rent steps through February 2021.
   
(59) The lockout period will be at least 32 payment dates beginning with and including the First Payment Date in April 2020. Defeasance of the Redmond Town Center Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) February 21, 2023. The assumed defeasance lockout period of 32 payment dates is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.

 

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(60) The 44 Whippany Fee Mortgaged Property is Leased Fee. The ground lease carries a 99-year term with an initial ground rent of $1,751,047 per annum, with 2% annual escalations beginning in year 11 of the ground lease through expiration in October 2119.
   
(61) The loan features a 10-year term. The anticipated repayment date of the whole loan is expected to be the payment date in November 2030, and the scheduled maturity date of the whole loan is expected to be the payment date in November 2034. Commencing on the Anticipated Repayment Date, the interest rate will increase to a per annum rate equal to the greater of (a) the initial interest rate plus 2.0000% or (b) the Swap Rate as of the Anticipated Repayment Date plus 1.9300% plus 2.0000%.
   
(62) The Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD are calculated on the basis of the as-complete appraised value of $729,000,000. Based on the “As-Is” value of $693,000,000, the Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD are both 42.6%.
   
(63) The Whole Loan is structured with a B Note with an original principal balance equal to $140,000,000. The B Note is full term interest only with a 2.69800% interest rate coterminous with the senior mortgage loan.
   
(64) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) are each 12 months, and the Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 120 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) of 13 months, and an Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 121 months.
   
(65) Underwritten Net Operating Income is based on the 2019 property financials. The decrease in Most Recent NOI (if past 2019) is primarily attributable to a decrease in room revenue as a result of COVID-19 and state wide “stay-at-home” order initiated in March 2020.
   
(66) Beginning on the Due Date in April 2021, the Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) for the Due Dates through and including July 2023, 3% of the gross revenues of the Mortgaged Property for the prior calendar month and (ii) thereafter, 4% of the gross revenues of the Mortgaged Property for the prior calendar month.
   
(67) The increase from the Most Recent NOI (if past 2019) to Underwritten Net Operating Income is primarily attributable to underwriting stabilized hotel operations pre-COVID-19 as of the trailing 12-month period ending on January 31, 2020. The latest trailing 12-month period ending on September 30, 2020 reflects the months heavily impacted by COVID-19. Additionally, the borrower sponsor has posted an 18-month debt service reserve equal to $8,831,707, which will be applied to monthly debt service payments through March 2022.
   
(68) The lockout period will be at least 35 payment dates beginning with and including the First Due Date in January 2020. For the purpose of this prospectus, the assumed lockout period of 35 payment dates is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(69) On each Due Date, if and to the extent the amount contained in the TI/LC reserve account is less than $1,000,000, the borrower is required to deposit into the TI/LC reserve account an Ongoing TI/LC Reserve amount equal to $25,000.
   
(70) The 2019 cash flow is based on the trailing 12-month period ending September 30, 2019. Most Recent cash flow is based on the trailing 10-month period annualized ending on September 30, 2020. A full trailing 12 months was not available as October 2019 and November 2019 financials were not available.
   
(71) The lockout period will be at least 34 payment dates beginning with and including the First Due Date in February 2020. For the purpose of this prospectus, the assumed lockout period of 34 payment dates is based on the expected Benchmark 2020-B21 securitization closing date in November 2020. The actual lockout period may be longer.
   
(72) On each Due Date, if and to the extent the amount contained in the TI/LC reserve account is less than $825,000, the borrower is required to deposit into the TI/LC reserve account an Ongoing TI/LC Reserve amount equal to approximately $22,917. The TI/LC Cap will increase to $1,250,000 if any amounts attributable to termination proceeds deposited in the TI/LC reserve account are included in the calculation.
   
(73) The Third Largest Tenant, Regal Cinemas, representing approximately 19.0% of the net rentable area, is dark with respect to its space but is paying partial rent.
   
(74) There is subordinate mortgage financing on the Mortgaged Property in favor of the New York City Economic Development Corporation in the original principal amount of $4,000,000 (the “NYCEDC Loan”), of which $2,546,666.67 is outstanding as of the Cut-off Date. The NYCEDC Loan has an amortization period of 25 years, an interest rate of 0% per annum, and requires annual payments of $160,000 for the term of the NYCEDC Loan. The scheduled maturity date of the NYCEDC Loan is the payment date in October 2036. Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow, Cut-off Date LTV Ratio, LTV Ratio at Maturity / ARD and Loan Per Unit calculations include the related Pari Passu Companion Loan but exclude the related subordinate debt represented by the NYCEDC Loan.
   
(75) The loan features a 10 year term with a 25-year amortization schedule for the first 5 years of the loan term followed by interest-only periods for the last 5 years.
   
(76) The Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD are calculated on the basis of the aggregate portfolio appraised value of $23,100,000, which includes the as-complete appraised value of $4,890,000 at the 4200 Jimmy Johnson Boulevard Mortgaged Property. Based on the aggregate portfolio appraised value of $22,470,000, which assumes an “As-Is” value of $4,380,000 at the 4200 Jimmy Johnson Boulevard Mortgaged Property, the Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD are 68.2% and 59.6%, respectively.
   
(77) The Largest Tenant at the Miramar Tech Center Mortgaged Property, United Data Technologies, has 21,154 SF of space that expires on October 21, 2035 and 2,101 SF that expires on October 21, 2021.
   
(78) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) are each 36 months, and the Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 120 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) of 37 months, and an Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 121 months.
   
(79) Capital Young Properties LLC, a New Jersey limited liability company (the “Preferred Member”), holds 15% preferred equity interests in Railroad Warehouse LLC (the “Sole Member”), the 100% equity owner in the borrower, in the original aggregate investment amount of $2,550,000 (which constitutes the “Unreturned Capital” of the Preferred Member). Under the Sole Member’s operating agreement, to the extent there is sufficient funds after payments of debt service, operating expenses and reserves under the Mortgage Loan, the Preferred Member is required to be paid, on a monthly basis until the Preferred Member’s Unreturned Capital is paid in full, (a) an annual cumulative return of 3% per annum on the Preferred Member’s Unreturned Capital for the first five years and (b) an annual cumulative return of 5% per annum on the Preferred Member’s Unreturned Capital for the next ensuing five years. See “Description of the Mortgage Pool–Additional Indebtedness–Preferred Equity” in this Preliminary Prospectus for additional information.
   
(80) The Appraised Value reflects the “As Stabilized” value of $9,750,000 as of November 30, 2020 for the 5850 Mercury Drive Mortgaged Property. The “As Stabilized” value assumes economic stabilization of the property after the completion of free rent periods associated with leases at the 5850 Mercury Drive Mortgaged Property. The “As Is” Value of the 5850 Mercury Drive Mortgaged Property is $9,350,000, which results in a Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD of approximately 59.9% and 48.5%.
   
(81) The increase from Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the Dearborn Flex Portfolio Mortgaged Properties can be attributed to the recent lease executions by Babels at the 5850 Mercury Drive Mortgaged Property and Penske Truck Leasing Co and Etta Services Inc at the 15041 Commerce Drive Mortgaged Property.

 

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(82) At loan origination, the borrower delivered two letters of credit: (i) a $354,000 letter of credit to cover 12 months of debt service and (ii) a $2.5 million letter of credit in connection with potential leasing costs that may be incurred in connection with the renewal or replacement of the Largest Tenant, GSA, and the Second Largest Tenant, Vivial Media LLC. In the event the borrower or the borrower sponsor renews each lease for a term of not less than five years or replaces such leases in accordance with the terms of the Mortgage Loan documents, the letters of credit will be released to the borrower.
   
(83) The increase from Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the Walmart Neighborhood Market & Shops - Chicago Mortgaged Property can be attributed to contractual rent steps, potential income from vacant space, and reimbursements in accordance with tenant leases.
   
(84) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.), Remaining Interest-Only Period (Mos.), Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 60 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.), Remaining Interest-Only Period (Mos.), Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 61 months.
   
(85) Under the terms of the related Mortgage Loan documents, the first payment date is the due date in January 2021, and the Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) are each 0 months, and the Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) are each 120 months. However, due to the fact that the related mortgage loan seller will contribute an initial interest deposit amount to the Issuing Entity on the Closing Date to cover an amount that represents one month’s interest that would have accrued with respect to the Mortgage Loan at the related interest rate with respect to a December 2020 payment date, such Mortgage Loan is being treated as having a first payment date on the due date in December 2020, and an Original Interest-Only Period (Mos.) and Remaining Interest-Only Period (Mos.) of 1 month, and an Original Term To Maturity / ARD (Mos.) and Remaining Term To Maturity / ARD (Mos.) of 121 months.
   
(86) The increase from the Most Recent NOI (if past 2019) to Underwritten Net Operating Income at the Mortgaged Property is greater than 10%, which is primarily attributable to recent leasing activity. The borrower sponsor executed seven new leases in 2020, including backfilling five COVID-19 related vacancies with new tenants at higher rental rates as well as renewing existing tenants at higher rental rates.
   
(87) The Appraised Value represents the “Hypothetical Market Value With Escrow Combined (Data Center & Excess Land),” which assumes that the $750,596 and the $100,000 the borrower deposited at loan origination into the Upfront Replacement Reserve and the Upfront Other Reserve is available as of the Appraisal Date and will be used for capital expenditures and tenant improvements of the sole tenant at the Mortgaged Property. The “As-Is” value as of September 22, 2020 is $5,490,000, which results in a Cut-off Date LTV Ratio and LTV Ratio at Maturity / ARD of approximately 75.6% and 65.7%.
   
(88) As of the November performance report for the Mortgaged Property, the Mortgage Loan failed a debt service coverage ratio test by falling below 1.30x, which initiated a cash management trigger period. The debt service coverage ratio test is calculated assuming 30-year amortization; however, the Mortgage Loan provides for payments of interest only without amortization. The debt service coverage ratio (as calculated under the loan documents) on an amortizing basis is 0.84x for the trailing 12-month period, 0.76x for the trailing three-month period, and 0.91x for the trailing one-month period, in each case ending September 30, 2020. Calculated based on the interest only payments under the Mortgage Loan, but otherwise on the same basis as required under the loan documents, the debt service coverage ratio would be 1.31x for such trailing 12-month period, 1.18x for such trailing three-month period, and 1.42x for such trailing one-month period. The borrower and the lender are in the process of establishing a clearing account for cash management.

 

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