FWP 1 n1788-x3_anxa1.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226943-04
     

     
  Benchmark 2019-B13  
     
  The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (File No. 333-226943) for the offering to which this communication relates.  Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the Securities and Exchange Commission for more complete information about the depositor, the issuing entity and this offering.  You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov.  Alternatively, the depositor or Deutsche Bank Securities Inc., any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-503-4611 or by emailing: prospectus.cpdg@db.com. The offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis.  You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.  
  This free writing prospectus does not contain all information that is required to be included in the prospectus.  
     
  STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION  
     
  This material is for your information, and none of Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Academy Securities, Inc., Drexel Hamilton, LLC or any other underwriter, (collectively, the “Underwriters”) are soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  
     
  Neither this document nor anything contained herein shall form the basis for any contract or commitment whatsoever. The information contained herein is preliminary as of the date hereof. These materials are subject to change, completion or amendment from time to time.  The information contained herein will be superseded by similar information delivered to you as part of the preliminary prospectus relating to the Benchmark 2019-B13 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2019-B13 (the “Offering Document”).  The information contained herein supersedes any such information previously delivered and should be reviewed only in conjunction with the entire Offering Document. All of the information contained herein is subject to the same limitations and qualifications contained in the Offering Document.  The information contained herein does not contain all relevant information relating to the underlying mortgage loans or mortgaged properties. Such information is described elsewhere in the Offering Document.  The information contained herein will be more fully described elsewhere in the Offering Document.  The information contained herein should not be viewed as projections, forecasts, predictions or opinions with respect to value.  Prior to making any investment decision, prospective investors are strongly urged to read the Offering Document its entirety. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this free writing prospectus is truthful or complete. Any representation to the contrary is a criminal offense.  
     
  The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers.  Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein.  As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance.  The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities.  Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods.  In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials.  The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials.  The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Underwriters or any of their respective affiliates makes any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities.  
     
  This document contains forward-looking statements. Those statements are subject to certain risks and uncertainties that could cause the success of collections and the actual cash flow generated to differ materially from the information set forth herein. While such information reflects projections prepared in good faith based upon methods and data that are believed to be reasonable and accurate as of the dates thereof, the depositor undertakes no obligation to revise these forward-looking statements to reflect subsequent events or circumstances. Individuals should not place undue reliance on forward-looking statements and are advised to make their own independent analysis and determination with respect to the forecasted periods, which reflect the issuer’s view only as of the date hereof.  
     
  IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS  
     
   Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded.  Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.  
     
     

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                                       
      % of   Mortgage   Cut-off       General Detailed     Interest Original Remaining Original Remaining
      Initial Pool # of Loan Original Date   Maturity   Property Property Interest Administrative Accrual Term to Term to Amortization Amortization
Loan ID Property Name Balance Properties Seller(1) Balance($)(3) Balance($)(3)   or ARD Balance($)   Type(4)(5) Type Rate Fee Rate(6) Basis Maturity or ARD Maturity or ARD Term Term
Loan 1 Sunset North(2) 7.9% 1 JPMCB 75,000,000 75,000,000   75,000,000   Office Suburban 3.2500% 0.01416% Actual/360 120 120 0 0
Loan 2 Mac Commons 5.6% 1 CREFI 53,450,000 53,450,000   44,440,574   Retail Anchored 4.0200% 0.01283% Actual/360 120 119 360 360
Loan 3 Osborn Triangle(2)(31) 5.3% 3 JPMCB 50,000,000 50,000,000   50,000,000   Mixed Use Office/Laboratory 3.7970% 0.01283% Actual/360 120 116 0 0
Property 3.01 610 Main Street North 2.1% 1 JPMCB 20,182,609 20,182,609       Mixed Use Office/Laboratory              
Property 3.02 1 Portland Street 1.9% 1 JPMCB 17,826,087 17,826,087       Mixed Use Office/Laboratory              
Property 3.03 700 Main Street 1.3% 1 JPMCB 11,991,304 11,991,304       Mixed Use Office/Laboratory              
Loan 4 Grand Canal Shoppes(2)(31) 5.3% 1 JPMCB 50,000,000 50,000,000   50,000,000   Retail Specialty Retail 3.7408% 0.01283% Actual/360 120 117 0 0
Loan 5 Rivertowne Commons(2) 4.7% 1 CREFI 45,000,000 45,000,000   45,000,000   Retail Anchored 3.6900% 0.01505% Actual/360 120 120 0 0
Loan 6 900 & 990 Stewart Avenue(2) 4.7% 1 JPMCB 45,000,000 45,000,000   45,000,000   Office Suburban 4.4900% 0.01505% Actual/360 60 58 0 0
Loan 7 City Hyde Park(2) 4.7% 1 JPMCB 45,000,000 45,000,000   41,308,903   Mixed Use Multifamily/Retail 4.7000% 0.01727% Actual/360 120 120 360 360
Loan 8 9533 Brighton Way 4.5% 1 JPMCB 43,000,000 43,000,000   43,000,000   Mixed Use Retail/Office 4.1700% 0.01283% Actual/360 120 120 0 0
Loan 9 Wind Creek Leased Fee(2) 4.4% 1 GACC 41,600,000 41,521,017   35,613,179   Other Leased Fee 4.3800% 0.01968% Actual/360 120 118 420 418
Loan 10 30 Hudson Yards(2)(31) 4.2% 1 GACC 40,000,000 40,000,000   40,000,000   Office CBD 3.1100% 0.01283% Actual/360 120 117 0 0
Loan 11 Beverly Hills BMW(2) 4.1% 1 GACC 39,490,000 39,490,000   39,490,000   Retail Other 3.9000% 0.02222% Actual/360 120 119 0 0
Loan 12 3 Columbus Circle(2)(31) 3.9% 1 JPMCB 37,500,000 37,500,000   37,500,000   Office CBD 3.9140% 0.01408% Actual/360 120 113 0 0
Loan 13 Ensemble 3.6% 1 CREFI 34,500,000 34,500,000   34,500,000   Multifamily High Rise 3.9300% 0.01283% Actual/360 120 120 0 0
Loan 14 Woodlands Mall(2)(31)(32)(33) 3.2% 1 GACC 30,000,000 30,000,000   30,000,000   Retail Super Regional Mall 4.2560% 0.01283% Actual/360 120 118 0 0
Loan 15 Northpoint Tower(2) 2.6% 1 CREFI 25,000,000 25,000,000   25,000,000   Office CBD 3.3000% 0.02158% Actual/360 60 59 0 0
Loan 16 Dearborn IHG Portfolio 2.4% 2 CREFI 22,500,000 22,455,601   16,134,486   Hospitality Various 3.9000% 0.01283% Actual/360 120 119 300 299
Property 16.01 Staybridge Suites Dearborn 1.4% 1 CREFI 13,800,000 13,772,768       Hospitality Extended Stay              
Property 16.02 Holiday Inn Express Dearborn 0.9% 1 CREFI 8,700,000 8,682,832       Hospitality Limited Service              
Loan 17 SkyEast 2.4% 1 JPMCB 22,500,000 22,500,000   22,500,000   Multifamily High Rise 4.2500% 0.01283% Actual/360 120 120 0 0
Loan 18 951 Madison Street 2.1% 1 CREFI 20,200,000 20,200,000   20,200,000   Mixed Use Multifamily/Retail/Self Storage 3.7900% 0.01283% Actual/360 120 119 0 0
Loan 19 Canyon Corporate Center 1.9% 1 JPMCB 18,460,000 18,460,000   18,460,000   Office Suburban 3.7000% 0.01283% Actual/360 120 119 0 0
Loan 20 Philadelphia Metro Storage Portfolio 1.7% 2 CREFI 16,450,000 16,450,000   14,966,742   Self Storage Self Storage 4.1500% 0.01283% Actual/360 120 118 360 360
Property 20.01 Metro Self Storage - Pennsauken Township 0.9% 1 CREFI 8,500,000 8,500,000       Self Storage Self Storage              
Property 20.02 Metro Self Storage - Philadelphia 0.8% 1 CREFI 7,950,000 7,950,000       Self Storage Self Storage              
Loan 21 Delta Hotels Chesapeake Norfolk 1.6% 1 JPMCB 15,700,000 15,700,000   12,759,982   Hospitality Full Service 4.6500% 0.01283% Actual/360 120 120 360 360
Loan 22 Concord Center 1.5% 1 JPMCB 14,025,000 14,025,000   12,041,984   Mixed Use Retail/Office 4.7000% 0.06158% Actual/360 120 118 360 360
Loan 23 Gramercy Tavern(33) 1.5% 1 JPMCB 14,000,000 14,000,000   14,000,000   Retail Single Tenant 4.6000% 0.01283% Actual/360 120 119 0 0
Loan 24 Hampton Inn & Suites Knoxville 1.4% 1 JPMCB 13,500,000 13,482,543   10,952,738   Hospitality Limited Service 4.6000% 0.01283% Actual/360 120 119 360 359
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 1.4% 1 JPMCB 13,480,000 13,480,000   10,961,273   Hospitality Limited Service 4.6650% 0.01283% Actual/360 120 120 360 360
Loan 26 Fern Marketplace(32) 1.3% 1 JPMCB 12,500,000 12,500,000   12,500,000   Retail Anchored 5.1500% 0.04158% Actual/360 60 59 0 0
Loan 27 Scottsdale Crossing 1.2% 1 JPMCB 11,300,000 11,300,000   10,263,566   Retail Shadow Anchored 4.0500% 0.01283% Actual/360 120 119 360 360
Loan 28 Tradecor Retail Portfolio 1.2% 4 CREFI 11,100,000 11,100,000   11,100,000   Various Various 3.5700% 0.04283% Actual/360 120 119 0 0
Property 28.01 Bell Rd & Litchfield Rd 0.6% 1 CREFI 5,445,000 5,445,000       Retail Unanchored              
Property 28.02 Power Rd & US 60 0.4% 1 CREFI 3,583,000 3,583,000       Retail Unanchored              
Property 28.03 Bullard Ave & McDowell Rd 0.1% 1 CREFI 1,094,000 1,094,000       Retail Single Tenant              
Property 28.04 Pebble Creek Parkway & McDowell Rd 0.1% 1 CREFI 978,000 978,000       Other Leased Fee              
Loan 29 Hotel Indigo Birmingham 1.1% 1 GACC 10,710,000 10,694,706   8,523,449   Hospitality Limited Service 4.0500% 0.01283% Actual/360 120 119 360 359
Loan 30 The BC Remedy Building 1.1% 1 CREFI 10,500,000 10,480,873   9,254,167   Office CBD 4.4500% 0.01283% Actual/360 60 59 300 299
Loan 31 Courtyard Warner Robins 1.1% 1 JPMCB 10,500,000 10,475,174   8,577,050   Hospitality Select Service 4.8000% 0.01283% Actual/360 120 118 360 358
Loan 32 Two Guys Commons 1.0% 1 CREFI 9,800,000 9,800,000   8,454,317   Retail Anchored 3.8900% 0.01283% Actual/360 120 119 360 360
Loan 33 47 Clinton Street 0.9% 1 JPMCB 9,000,000 9,000,000   9,000,000   Mixed Use Multifamily/Retail 5.2500% 0.01283% Actual/360 60 51 0 0
Loan 34 TownePlace Suites Albany 0.9% 1 JPMCB 8,400,000 8,380,139   6,861,639   Hospitality Extended Stay 4.8000% 0.01283% Actual/360 120 118 360 358
Loan 35 Holiday Inn Express and Suites Los Alamos 0.8% 1 CREFI 7,650,000 7,639,076   6,088,178   Hospitality Select Service 4.0500% 0.01283% Actual/360 120 119 360 359
Loan 36 Double Door 0.8% 1 CREFI 7,500,000 7,500,000   7,500,000   Mixed Use Multifamily/Retail 4.4000% 0.01283% Actual/360 120 119 0 0
Loan 37 Albertsons Corinth 0.5% 1 CREFI 5,090,000 5,090,000   5,090,000   Retail Single Tenant 4.4600% 0.01283% Actual/360 120 119 0 0
Loan 38 2975 Breckinridge Boulevard 0.5% 1 CREFI 4,900,000 4,887,436   4,477,298   Office Suburban 4.4000% 0.01283% Actual/360 60 58 360 358
Loan 39 JJL Retail Portfolio 0.4% 2 CREFI 3,851,000 3,851,000   3,851,000   Retail Various 4.3500% 0.06283% Actual/360 120 119 0 0
Property 39.01 Palm Desert 0.2% 1 CREFI 2,160,500 2,160,500       Retail Unanchored              
Property 39.02 Lake Elsinore 0.2% 1 CREFI 1,690,500 1,690,500       Retail Single Tenant              
Loan 40 738 East 6th Street 0.4% 1 JPMCB 3,800,000 3,800,000   3,800,000   Multifamily Mid Rise 4.2500% 0.01283% Actual/360 120 120 0 0

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

 

                    Pari Passu Pari Passu          
        First       Monthly Annual Companion Loan Companion Loan Remaining     Crossed  
      Origination Payment Maturity ARD Loan Final Debt Debt Monthly Debt Annual Debt Interest Only   Cash With Related
Loan ID Property Name Date Date or ARD Date (Yes/No) Maturity Date Service($)(7) Service($)(7) Service($) Service($) Period  Lockbox(8)  Management(9) Other Loans Borrower
Loan 1 Sunset North(2) 09/10/2019 11/01/2019 10/01/2029 No 10/01/2029 205,946 2,471,354 205,946 2,471,354 120 Hard Springing No No
Loan 2 Mac Commons 09/05/2019 10/06/2019 09/06/2029 No 09/06/2029 255,795 3,069,542     17 Hard Springing No No
Loan 3 Osborn Triangle(2)(31) 05/16/2019 07/01/2019 06/01/2029 No 06/01/2029 160,406 1,924,868 1,219,083 14,628,997 116 Hard Springing No No
Property 3.01 610 Main Street North                            
Property 3.02 1 Portland Street                            
Property 3.03 700 Main Street                            
Loan 4 Grand Canal Shoppes(2)(31) 06/03/2019 08/01/2019 07/01/2029 No 07/01/2029 158,031 1,896,378 2,244,047 26,928,564 117 Hard Springing No No
Loan 5 Rivertowne Commons(2) 09/09/2019 11/06/2019 10/06/2029 No 10/06/2029 140,297 1,683,563 65,472 785,663 120 Springing Hard Springing No No
Loan 6 900 & 990 Stewart Avenue(2) 07/25/2019 09/01/2019 08/01/2024 No 08/01/2024 170,714 2,048,562 147,952 1,775,421 58 Hard In Place No No
Loan 7 City Hyde Park(2) 09/09/2019 11/01/2019 10/01/2029 No 10/01/2029 233,387 2,800,644 347,487 4,169,848 60 Springing Soft (Multifamily); Springing Hard (Retail) Springing No No
Loan 8 9533 Brighton Way 09/06/2019 11/01/2019 10/01/2029 No 10/01/2029 151,500 1,818,004     120 Hard Springing No No
Loan 9 Wind Creek Leased Fee(2) 07/23/2019 09/06/2019 08/06/2029 No 08/06/2029 193,795 2,325,536 489,145 5,869,743 0 Hard In Place No No
Loan 10 30 Hudson Yards(2)(31) 06/14/2019 08/06/2019 07/06/2029 No 07/06/2029 105,106 1,261,278 2,837,875 34,054,500 117 Hard Springing No No
Loan 11 Beverly Hills BMW(2) 08/14/2019 10/06/2019 09/06/2029 No 09/06/2029 130,125 1,561,500 65,903 790,833 119 Hard Springing No No
Loan 12 3 Columbus Circle(2)(31) 03/12/2019 04/11/2019 03/11/2029 No 03/11/2029 124,011 1,488,135 1,496,403 17,956,834 113 Hard In Place No No
Loan 13 Ensemble 09/11/2019 11/06/2019 10/06/2029 No 10/06/2029 114,557 1,374,681     120 Springing Hard Springing No No
Loan 14 Woodlands Mall(2)(31)(32)(33) 07/05/2019 09/01/2019 08/01/2029 No 08/01/2029 107,878 1,294,533 782,473 9,389,682 118 Hard Springing No No
Loan 15 Northpoint Tower(2) 08/09/2019 10/06/2019 09/06/2024 No 09/06/2024 69,705 836,458 182,627 2,191,521 59 Hard Springing No No
Loan 16 Dearborn IHG Portfolio 08/22/2019 10/06/2019 09/06/2029 No 09/06/2029 117,524 1,410,294     0 Springing Hard Springing No No
Property 16.01 Staybridge Suites Dearborn                            
Property 16.02 Holiday Inn Express Dearborn                            
Loan 17 SkyEast 09/11/2019 11/05/2019 10/05/2029 No 10/05/2029 80,794 969,531     120 Springing Soft Springing No Yes - A
Loan 18 951 Madison Street 08/19/2019 10/06/2019 09/06/2029 No 09/06/2029 64,684 776,213     119 Springing Springing No No
Loan 19 Canyon Corporate Center 08/20/2019 10/01/2019 09/01/2029 No 09/01/2029 57,709 692,506     119 Springing Hard Springing No No
Loan 20 Philadelphia Metro Storage Portfolio 07/30/2019 09/06/2019 08/06/2029 No 08/06/2029 79,964 959,568     58 Springing Hard Springing No No
Property 20.01 Metro Self Storage - Pennsauken Township                            
Property 20.02 Metro Self Storage - Philadelphia                            
Loan 21 Delta Hotels Chesapeake Norfolk 09/09/2019 11/01/2019 10/01/2029 No 10/01/2029 80,955 971,460     0 Hard Springing No No
Loan 22 Concord Center 07/19/2019 09/01/2019 08/01/2029 No 08/01/2029 72,739 872,867     22 Hard Springing No No
Loan 23 Gramercy Tavern(33) 08/26/2019 10/01/2019 09/01/2029 No 09/01/2029 54,412 652,944     119 Hard Springing No No
Loan 24 Hampton Inn & Suites Knoxville 08/05/2019 10/01/2019 09/01/2029 No 09/01/2029 69,207 830,484     0 Hard Springing No No
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 09/05/2019 11/01/2019 10/01/2029 No 10/01/2029 69,629 835,549     0 Hard Springing No No
Loan 26 Fern Marketplace(32) 08/07/2019 10/01/2019 09/01/2024 No 09/01/2024 54,391 652,691     59 Hard In Place No No
Loan 27 Scottsdale Crossing 08/09/2019 10/01/2019 09/01/2029 No 09/01/2029 54,274 651,290     59 Hard Springing No No
Loan 28 Tradecor Retail Portfolio 08/22/2019 10/06/2019 09/06/2029 No 09/06/2029 33,481 401,774     119 Springing Hard Springing No No
Property 28.01 Bell Rd & Litchfield Rd                            
Property 28.02 Power Rd & US 60                            
Property 28.03 Bullard Ave & McDowell Rd                            
Property 28.04 Pebble Creek Parkway & McDowell Rd                            
Loan 29 Hotel Indigo Birmingham 08/30/2019 10/06/2019 09/06/2029 No 09/06/2029 51,440 617,285     0 Hard Springing No No
Loan 30 The BC Remedy Building 09/06/2019 10/06/2019 09/06/2024 No 09/06/2024 58,065 696,778     0 Hard Springing No No
Loan 31 Courtyard Warner Robins 07/18/2019 09/01/2019 08/01/2029 No 08/01/2029 55,090 661,078     0 Hard Springing No Yes - B
Loan 32 Two Guys Commons 08/19/2019 10/06/2019 09/06/2029 No 09/06/2029 46,167 554,008     35 Springing Hard Springing No No
Loan 33 47 Clinton Street 12/17/2018 02/01/2019 01/01/2024 No 01/01/2024 39,922 479,063     51 Soft In Place No No
Loan 34 TownePlace Suites Albany 07/18/2019 09/01/2019 08/01/2029 No 08/01/2029 44,072 528,863     0 Hard Springing No Yes - B
Loan 35 Holiday Inn Express and Suites Los Alamos 08/28/2019 10/06/2019 09/06/2029 No 09/06/2029 36,743 440,918     0 Hard Springing No No
Loan 36 Double Door 08/20/2019 10/06/2019 09/06/2029 No 09/06/2029 27,882 334,583     119 Springing Hard Springing No No
Loan 37 Albertsons Corinth 09/06/2019 10/06/2019 09/06/2029 No 09/06/2029 19,181 230,167     119 Hard Springing No No
Loan 38 2975 Breckinridge Boulevard 07/30/2019 09/06/2019 08/06/2024 No 08/06/2024 24,537 294,447     0 Springing Hard Springing No No
Loan 39 JJL Retail Portfolio 09/06/2019 10/06/2019 09/06/2029 No 09/06/2029 14,154 169,845     119 Springing Springing No No
Property 39.01 Palm Desert                            
Property 39.02 Lake Elsinore                            
Loan 40 738 East 6th Street 09/11/2019 11/05/2019 10/05/2029 No 10/05/2029 13,645 163,743     120 Springing Soft Springing No Yes - A

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                                 
                  FIRREA Cut-Off            
      Underwritten Underwritten Grace Payment Appraised Appraisal Compliant Date LTV LTV Ratio at          
Loan ID Property Name NOI DSCR(7)(10) NCF DSCR(7)(10) Period(12) Date Value ($)(13) As-of Date (Yes/No) Ratio(10)(13)(14) Maturity or ARD(10)(13)(14) Address City County State Zip Code
Loan 1 Sunset North(2) 2.75x 2.63x 0 1 227,100,000 08/21/2019 Yes 66.1% 66.1% 3120, 3150 & 3180 139th Avenue Southeast Bellevue King WA 98005
Loan 2 Mac Commons 1.52x 1.44x 0 6 73,500,000 07/01/2019 Yes 72.7% 60.5% 2631 MacArthur Road Whitehall Lehigh PA 18052
Loan 3 Osborn Triangle(2)(31) 3.25x 3.12x 0 1 1,158,000,000 04/11/2019 Yes 37.1% 37.1% Various Cambridge Middlesex MA 02139
Property 3.01 610 Main Street North         462,000,000 04/11/2019 Yes     610 Main Street Cambridge Middlesex MA 02139
Property 3.02 1 Portland Street         416,000,000 04/11/2019 Yes     1 Portland Street Cambridge Middlesex MA 02139
Property 3.03 700 Main Street         280,000,000 04/11/2019 Yes     700 Main Street Cambridge Middlesex MA 02139
Loan 4 Grand Canal Shoppes(2)(31) 2.53x 2.46x 2 (once per year) 1 1,640,000,000 04/03/2019 Yes 46.3% 46.3% 3377 Las Vegas Boulevard South Las Vegas Clark NV 89109
Loan 5 Rivertowne Commons(2) 2.35x 2.23x 0 6 106,000,000 07/10/2019 Yes 62.3% 62.3% 6163 Oxon Hill Road Oxon Hill Prince George’s MD 20745
Loan 6 900 & 990 Stewart Avenue(2) 2.01x 1.95x 0 1 121,400,000 05/02/2019 Yes 69.2% 69.2% 900 & 990 Stewart Avenue Garden City Nassau NY 11530
Loan 7 City Hyde Park(2) 1.08x 1.06x 0 1 151,800,000 06/03/2019 Yes 73.8% 67.7% 5105 South Harper Avenue Chicago Cook IL 60615
Loan 8 9533 Brighton Way 1.59x 1.58x 5 1 67,600,000 08/18/2019 Yes 63.6% 63.6% 9533 Brighton Way Beverly Hills Los Angeles CA 90210
Loan 9 Wind Creek Leased Fee(2) 1.27x 1.27x 0 6 172,500,000 04/23/2019 Yes 84.8% 72.8% 77 Sands Boulevard Bethlehem Northampton PA 18015
Loan 10 30 Hudson Yards(2)(31) 3.46x 3.45x 0 6 2,200,000,000 05/23/2019 Yes 50.9% 50.9% 530 West 33rd Street New York New York NY 10001
Loan 11 Beverly Hills BMW(2) 1.00x 1.00x 0 6 70,000,000 07/16/2019 Yes 85.0% 85.0% 5070 & 5151 Wilshire Boulevard Los Angeles Los Angeles CA 90036
Loan 12 3 Columbus Circle(2)(31) 3.11x 2.91x 0 11 1,080,000,000 01/01/2019 Yes 45.4% 45.4% 3 Columbus Circle New York New York NY 10019
Loan 13 Ensemble 1.69x 1.68x 0 6 50,000,000 01/09/2019 Yes 69.0% 69.0% 824-840 East New York Avenue Brooklyn Kings NY 11203
Loan 14 Woodlands Mall(2)(31)(32)(33) 4.04x 3.95x 1 (once per year) 1 953,400,000 04/20/2019 Yes 26.0% 26.0% 1201 Lake Woodlands Drive The Woodlands Montgomery TX 77380
Loan 15 Northpoint Tower(2) 3.37x 3.31x 0 6 145,300,000 07/18/2019 Yes 62.3% 62.3% 901-1001 Lakeside Avenue East Cleveland Cuyahoga OH 44114
Loan 16 Dearborn IHG Portfolio 2.16x 1.95x 0 6 38,000,000 07/12/2019 Yes 59.1% 42.5% Various Dearborn Wayne MI 48124
Property 16.01 Staybridge Suites Dearborn         20,500,000 07/12/2019 Yes     24105 Michigan Avenue Dearborn Wayne MI 48124
Property 16.02 Holiday Inn Express Dearborn         17,500,000 07/12/2019 Yes     24041 Michigan Avenue Dearborn Wayne MI 48124
Loan 17 SkyEast 1.57x 1.55x 0 5 33,500,000 05/30/2019 Yes 67.2% 67.2% 636 East 11th Street New York New York NY 10009
Loan 18 951 Madison Street 1.83x 1.80x 0 6 33,400,000 06/19/2019 Yes 60.5% 60.5% 951 Madison Street Brooklyn Kings NY 11221
Loan 19 Canyon Corporate Center 3.09x 3.05x 5 1 28,450,000 07/10/2019 Yes 64.9% 64.9% 3870, 3880, 3890 Murphy Canyon Road San Diego San Diego CA 92123
Loan 20 Philadelphia Metro Storage Portfolio 1.48x 1.46x 0 6 24,450,000 Various Yes 67.3% 61.2% Various Various Various Various Various
Property 20.01 Metro Self Storage - Pennsauken Township         11,790,000 06/01/2019 Yes     6400-6504 South Crescent Boulevard Pennsauken Camden NJ 08109
Property 20.02 Metro Self Storage - Philadelphia         12,660,000 06/05/2019 Yes     2240 Island Avenue Philadelphia Philadelphia PA 19142
Loan 21 Delta Hotels Chesapeake Norfolk 1.87x 1.87x 5 (once per year) 1 26,000,000 08/01/2019 Yes 60.4% 49.1% 725 Woodlake Drive Chesapeake Chesapeake City VA 23320
Loan 22 Concord Center 1.50x 1.46x 0 1 22,000,000 06/11/2019 Yes 63.8% 54.7% 445-455 East Eisenhower Parkway & 2900 South State Street Ann Arbor Washtenaw MI 48108 & 48104
Loan 23 Gramercy Tavern(33) 1.83x 1.80x 5 (once per year) 1 24,800,000 06/25/2019 Yes 56.5% 56.5% 42 East 20th Street New York New York NY 10003
Loan 24 Hampton Inn & Suites Knoxville 1.77x 1.77x 0 1 20,200,000 05/24/2019 Yes 66.7% 54.2% 618 West Main Street Knoxville Knox TN 37902
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 2.24x 2.24x 0 1 20,600,000 06/01/2019 Yes 65.4% 53.2% 20065 Lakeview Center Plaza Ashburn Loudoun VA 20147
Loan 26 Fern Marketplace(32) 1.78x 1.76x 0 1 23,150,000 04/22/2019 Yes 54.0% 54.0% 1370 East 70th Street Shreveport Caddo LA 71105
Loan 27 Scottsdale Crossing 1.79x 1.69x 5 1 18,500,000 06/26/2019 Yes 61.1% 55.5% 2765, 2805, 2825 & 2845 North Scottsdale Road Scottsdale Maricopa AZ 85257
Loan 28 Tradecor Retail Portfolio 2.73x 2.60x 0 6 19,880,000 07/11/2019 Yes 55.8% 55.8% Various Various Maricopa AZ Various
Property 28.01 Bell Rd & Litchfield Rd         9,300,000 07/11/2019 Yes     16811 North Litchfield Road Surprise Maricopa AZ 85374
Property 28.02 Power Rd & US 60         6,600,000 07/11/2019 Yes     1438 South Power Road Mesa Maricopa AZ 85206
Property 28.03 Bullard Ave & McDowell Rd         2,120,000 07/11/2019 Yes     14681 West McDowell Road Goodyear Maricopa AZ 85395
Property 28.04 Pebble Creek Parkway & McDowell Rd         1,860,000 07/11/2019 Yes     North of NWC McDowell Road & Pebble Creek Parkway Goodyear Maricopa AZ 85338
Loan 29 Hotel Indigo Birmingham 2.12x 1.93x 0 6 15,300,000 09/03/2019 Yes 69.9% 55.7% 1023 20th Street South Birmingham Jefferson AL 35205
Loan 30 The BC Remedy Building 1.68x 1.54x 0 6 16,200,000 06/17/2019 Yes 64.7% 57.1% 407 & 423 Morris Street Durham Durham NC 27701
Loan 31 Courtyard Warner Robins 1.82x 1.82x 0 1 18,300,000 05/06/2019 Yes 57.2% 46.9% 589 Carl Vinson Parkway Warner Robins Houston GA 31088
Loan 32 Two Guys Commons 1.64x 1.51x 0 6 13,400,000 06/12/2019 Yes 73.1% 63.1% 905 Loucks Road York York PA 17404
Loan 33 47 Clinton Street 1.17x 1.16x 0 1 14,300,000 08/15/2018 Yes 62.9% 62.9% 47 Clinton Street New York New York NY 10002
Loan 34 TownePlace Suites Albany 2.60x 2.60x 0 1 14,000,000 06/30/2019 Yes 59.9% 49.0% 3014 Kensington Court Albany Dougherty GA 31721
Loan 35 Holiday Inn Express and Suites Los Alamos 2.43x 2.18x 0 6 11,500,000 07/02/2020 Yes 66.4% 52.9% 60 Entrada Drive Los Alamos Los Alamos NM 87544
Loan 36 Double Door 1.89x 1.83x 0 6 12,100,000 10/25/2019 Yes 62.0% 62.0% 1572 North Milwaukee Avenue Chicago Cook IL 60647
Loan 37 Albertsons Corinth 1.83x 1.71x 0 6 8,670,000 08/03/2019 Yes 58.7% 58.7% 4351 FM 2181 Corinth Denton TX 76210
Loan 38 2975 Breckinridge Boulevard 2.40x 2.01x 0 6 9,650,000 06/27/2019 Yes 50.6% 46.4% 2975 Breckinridge Boulevard Duluth Gwinnet GA 30096
Loan 39 JJL Retail Portfolio 2.00x 1.89x 0 6 6,420,000 07/20/2019 Yes 60.0% 60.0% Various Various Riverside CA Various
Property 39.01 Palm Desert         3,500,000 07/20/2019 Yes     34260 Monterey Avenue Palm Desert Riverside CA 92211
Property 39.02 Lake Elsinore         2,920,000 07/20/2019 Yes     18428 Collier Avenue Lake Elsinore Riverside CA 92530
Loan 40 738 East 6th Street 1.57x 1.55x 0 5 6,200,000 06/25/2019 Yes 61.3% 61.3% 738 East 6th Street New York New York NY 10009

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                           
          Net Units Loan per Net            
      Year Year Rentable Area of Rentable Area   Prepayment Provisions Most Recent Operating Most Recent Most Recent Most Recent
Loan ID Property Name Built Renovated (SF/Units/Rooms)(4)(14) Measure (SF/Units/Rooms) $(4)(10)   (# of payments)(15)(16)(17) Statements Date EGI ($) Expenses($) NOI($)(11)
Loan 1 Sunset North(2) 1999, 2000 2016-2019 464,061 Sq. Ft. 323   L(24), D(92), O(4) 07/31/2019 11,557,212 4,758,188 6,799,024
Loan 2 Mac Commons 1952 2019 361,806 Sq. Ft. 148   L(25), D(91), O(4) 05/31/2019 5,732,850 1,328,059 4,404,791
Loan 3 Osborn Triangle(2)(31) Various Various 676,947 Sq. Ft. 635   L(25), YM1(88), O(7) 03/31/2019 60,868,091 15,860,286 45,007,805
Property 3.01 610 Main Street North 2016 NAP 278,738 Sq. Ft. 623     03/31/2019 26,172,221 6,322,623 19,849,598
Property 3.02 1 Portland Street 2013 NAP 229,330 Sq. Ft. 668     03/31/2019 21,060,689 4,968,008 16,092,681
Property 3.03 700 Main Street Late 1800s 2002, 2012 168,879 Sq. Ft. 611     03/31/2019 13,635,181 4,569,654 9,065,526
Loan 4 Grand Canal Shoppes(2)(31) 1999 2007 759,891 Sq. Ft. 1,000   L(27), D(88), O(5) 03/31/2019 102,473,435 31,007,624 71,465,811
Loan 5 Rivertowne Commons(2) 1987 NAP 384,304 Sq. Ft. 172   L(24), D(91), O(5) 07/31/2019 7,546,879 2,552,644 4,994,234
Loan 6 900 & 990 Stewart Avenue(2) 1987, 1988 2014, 2018 461,820 Sq. Ft. 182   L(25), YM1(32), O(3) 12/31/2018 11,627,171 7,149,331 4,477,840
Loan 7 City Hyde Park(2) 2015 NAP 180 Units 622,222   L(24), D(90), O(6) 06/30/2019 9,137,147 2,989,676 6,147,471
Loan 8 9533 Brighton Way 1930 2016 14,294 Sq. Ft. 3,008   L(24), D(91), O(5) 06/30/2019 2,477,140 649,288 1,827,852
Loan 9 Wind Creek Leased Fee(2) NAP NAP 2,608,541 Sq. Ft. 56   L(26), D(89), O(5)        
Loan 10 30 Hudson Yards(2)(31) 2019 NAP 1,463,234 Sq. Ft. 765   L(27), DorYM1(88), O(5)        
Loan 11 Beverly Hills BMW(2) 2010 NAP 339,000 Sq. Ft. 175   L(25), D(91), O(4)        
Loan 12 3 Columbus Circle(2)(31) 1927 2010-2013 753,713 Sq. Ft. 650   L(31), D(84), O(5) 12/31/2018 57,324,235 17,233,200 40,091,035
Loan 13 Ensemble 2019 NAP 93 Units 370,968   L(24), D(90), O(6)        
Loan 14 Woodlands Mall(2)(31)(32)(33) 1994, 2003, 2016 NAP 758,231 Sq. Ft. 327   L(26), D(89), O(5) 05/31/2019 53,807,988 10,101,329 43,706,659
Loan 15 Northpoint Tower(2) 1985 2017-2019 873,335 Sq. Ft. 104   L(25), D(30), O(5) 06/30/2019 16,770,993 8,378,781 8,392,212
Loan 16 Dearborn IHG Portfolio 2016 NAP 206 Rooms 109,008   L(25), D(90), O(5) 06/30/2019 7,548,787 4,411,812 3,136,975
Property 16.01 Staybridge Suites Dearborn 2016 NAP 99 Rooms 139,119     06/30/2019 4,287,178 2,351,833 1,935,345
Property 16.02 Holiday Inn Express Dearborn 2016 NAP 107 Rooms 81,148     06/30/2019 3,261,609 2,059,978 1,201,631
Loan 17 SkyEast 2005 NAP 41 Units 548,780   L(24), D(92), O(4) 08/31/2019 1,968,982 437,631 1,531,351
Loan 18 951 Madison Street 2018 NAP 37 Units 545,946   L(25), YM1(92), O(3) T-6 3/31/2019 Ann. 1,136,056 173,414 962,641
Loan 19 Canyon Corporate Center 1988 2014 132,248 Sq. Ft. 140   L(25), DorYM1(90), YM1(1), O(4) 12/31/2018 2,541,872 464,482 2,077,389
Loan 20 Philadelphia Metro Storage Portfolio Various Various 149,845 Sq. Ft. 110   L(26), D(89), O(5) 06/30/2019 2,280,758 826,888 1,453,870
Property 20.01 Metro Self Storage - Pennsauken Township 1950 2002 69,085 Sq. Ft. 123     06/30/2019 1,105,083 388,168 716,915
Property 20.02 Metro Self Storage - Philadelphia 1927 2003 80,760 Sq. Ft. 98     06/30/2019 1,175,675 438,720 736,955
Loan 21 Delta Hotels Chesapeake Norfolk 1986 2017-2018 228 Rooms 68,860   L(24), D(93), O(3) 07/31/2019 7,668,989 5,800,938 1,868,051
Loan 22 Concord Center 1987 2017-2019 99,352 Sq. Ft. 141   L(26), D(91), O(3) 03/31/2019 1,932,323 949,872 982,451
Loan 23 Gramercy Tavern(33) 1910 1994 14,030 Sq. Ft. 998   L(25), YM1(92), O(3)        
Loan 24 Hampton Inn & Suites Knoxville 2006 2019 85 Rooms 158,618   L(25), D(92), O(3) 08/31/2019 3,753,073 2,283,383 1,469,690
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 2009 2017 132 Rooms 102,121   L(25), YM1(92), O(3) 06/30/2019 4,890,068 3,015,294 1,874,774
Loan 26 Fern Marketplace(32) 2016 NAP 67,725 Sq. Ft. 185   L(25), YM1(11), O(24) 05/31/2019 1,500,316 533,477 966,839
Loan 27 Scottsdale Crossing 1991 2001 52,850 Sq. Ft. 214   L(25), YM1(92), O(3) 08/31/2019 1,429,174 301,705 1,127,469
Loan 28 Tradecor Retail Portfolio Various Various 29,001 Sq. Ft. 383   L(25), D(91), O(4)        
Property 28.01 Bell Rd & Litchfield Rd 2006 NAP 12,500 Sq. Ft. 436     05/31/2019 617,539 115,680 501,859
Property 28.02 Power Rd & US 60 2013 NAP 8,252 Sq. Ft. 434     04/30/2019 419,925 79,501 340,424
Property 28.03 Bullard Ave & McDowell Rd 2009 NAP 6,249 Sq. Ft. 175     05/31/2019 206,833   206,833
Property 28.04 Pebble Creek Parkway & McDowell Rd NAP NAP 2,000 Sq. Ft. 489            
Loan 29 Hotel Indigo Birmingham 1932 2018 63 Rooms 169,757   L(25), D(91), O(4) 07/31/2019 2,748,489 1,574,312 1,174,177
Loan 30 The BC Remedy Building 1928 1995 67,087 Sq. Ft. 156   L(25), D(32), O(3) 06/30/2019 1,762,232 494,402 1,267,830
Loan 31 Courtyard Warner Robins 2010 NAP 106 Rooms 98,822   L(26), D(91), O(3) 07/31/2019 3,982,846 2,803,025 1,179,821
Loan 32 Two Guys Commons 1970 2016 110,980 Sq. Ft. 88   L(25), D(91), O(4) 04/30/2019 1,646,240 602,970 1,043,270
Loan 33 47 Clinton Street 1900 2014 10 Units 900,000   L(25), YM1(29), O(6) 05/31/2019 499,641 79,068 420,573
Loan 34 TownePlace Suites Albany 2018 NAP 80 Rooms 104,752   L(26), D(91), O(3) 07/31/2019 2,932,576 1,503,096 1,429,479
Loan 35 Holiday Inn Express and Suites Los Alamos 2009 NAP 86 Rooms 88,826   L(25), D(90), O(5) 06/30/2019 2,885,410 1,816,825 1,068,585
Loan 36 Double Door 1902 2018 11 Units 681,818   L(25), D(89), O(6) 06/30/2019 308,769 112,049 196,720
Loan 37 Albertsons Corinth 1997 2017 57,574 Sq. Ft. 88   L(25), D(92), O(3)        
Loan 38 2975 Breckinridge Boulevard 1998 2008 70,393 Sq. Ft. 69   L(26), D(30), O(4) 06/30/2019 1,118,416 439,884 678,532
Loan 39 JJL Retail Portfolio Various NAP 13,979 Sq. Ft. 275   L(25), DorYM1(91), O(4)        
Property 39.01 Palm Desert 2007 NAP 5,979 Sq. Ft. 361     06/30/2019 247,510 48,945 198,565
Property 39.02 Lake Elsinore 2019 NAP 8,000 Sq. Ft. 211            
Loan 40 738 East 6th Street 1900 2018-2019 11 Units 345,455   L(24), D(92), O(4) 08/31/2019 340,375 126,998 213,377

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                                         
      Second Most Second Second Second Third Most Third Third Third                    
      Recent Operating Most Recent Most Recent Most Recent Recent Operating Most Recent Most Recent Most Recent Underwritten NOI Underwritten NCF  Underwritten  Underwritten  Underwritten  Underwritten  Underwritten Underwritten Underwritten Ownership
Loan ID Property Name Statements Date EGI($) Expenses($) NOI($) Statements Date EGI($) Expenses($) NOI($) Debt Yield(7)(10) Debt Yield(7)(10)  Revenue($)  EGI($)  Expenses($)  NOI ($)(11)  Reserves($) TI/LC($) NCF ($) Interest
Loan 1 Sunset North(2) 12/31/2018 18,368,132 4,822,445 13,545,687 12/31/2017 15,446,081 4,538,540 10,907,542 9.1% 8.7% 21,030,283 19,978,769 6,362,971 13,615,798 148,500 464,061 13,003,237 Fee Simple
Loan 2 Mac Commons 12/31/2018 5,848,393 1,539,422 4,308,971 12/31/2017 5,701,680 1,355,424 4,346,256 8.7% 8.3% 6,420,963 6,099,915 1,442,978 4,656,938 54,271 176,707 4,425,960 Fee Simple
Loan 3 Osborn Triangle(2)(31) 12/31/2018 59,626,445 15,721,797 43,904,648 12/31/2017 55,887,418 13,850,608 42,036,811 12.5% 12.0% 71,076,352 70,789,429 17,055,013 53,734,416 182,776 1,878,551 51,673,090 Leasehold
Property 3.01 610 Main Street North 12/31/2018 25,653,185 6,363,502 19,289,683 12/31/2017 24,392,158 5,060,066 19,332,091     30,235,850 30,351,909 6,775,685 23,576,224 75,259   23,500,965 Leasehold
Property 3.02 1 Portland Street 12/31/2018 20,777,288 4,849,523 15,927,766 12/31/2017 19,154,337 4,220,162 14,934,175     24,166,129 24,096,635 5,282,690 18,813,944 61,919 1,081,864 17,670,161 Leasehold
Property 3.03 700 Main Street 12/31/2018 13,195,972 4,508,772 8,687,199 12/31/2017 12,340,923 4,570,379 7,770,545     16,674,373 16,340,886 4,996,638 11,344,248 45,597 796,687 10,501,964 Leasehold
Loan 4 Grand Canal Shoppes(2)(31) 12/31/2018 103,110,653 31,784,180 71,326,473 12/31/2017 107,586,327 33,160,381 74,425,947 9.6% 9.3% 104,029,334 104,029,334 31,007,624 73,021,709   2,023,806 70,997,903 Fee Simple/Leasehold
Loan 5 Rivertowne Commons(2) 12/31/2018 8,256,332 2,460,130 5,796,202 12/31/2017 8,040,686 2,413,105 5,627,581 8.8% 8.4% 8,575,528 8,355,800 2,552,434 5,803,365 84,547 204,419 5,514,400 Fee Simple
Loan 6 900 & 990 Stewart Avenue(2) 12/31/2017 10,887,285 6,689,472 4,197,812 12/31/2016 12,150,135 7,167,351 4,982,784 9.1% 8.9% 16,021,690 14,329,713 6,653,537 7,676,175 92,364 136,604 7,447,208 Leasehold
Loan 7 City Hyde Park(2) 12/31/2018 8,181,154 3,120,842 5,060,312 12/31/2017 6,203,491 1,932,207 4,271,284 6.7% 6.6% 9,097,022 10,396,195 2,862,031 7,534,164 52,509 98,900 7,382,754 Fee Simple
Loan 8 9533 Brighton Way 12/31/2018 2,188,857 630,133 1,558,724         6.7% 6.7% 3,879,443 3,623,740 728,470 2,895,270 2,335 28,588 2,864,347 Fee Simple
Loan 9 Wind Creek Leased Fee(2)                 7.1% 7.1% 10,402,235 10,402,235   10,402,235     10,402,235 Fee Simple
Loan 10 30 Hudson Yards(2)(31)                 10.9% 10.9% 169,372,247 164,291,079 42,267,893 122,023,186 292,647   121,730,539 Fee Simple
Loan 11 Beverly Hills BMW(2)                 4.0% 4.0% 1,200,000 2,437,753 78,975 2,358,779     2,358,779 Fee Simple
Loan 12 3 Columbus Circle(2)(31) 12/31/2017 50,952,874 16,254,125 34,698,749 12/31/2016 50,161,202 14,968,652 35,192,550 12.3% 11.5% 80,992,881 79,416,007 18,918,555 60,497,452 150,743 3,752,630 56,594,080 Fee Simple
Loan 13 Ensemble                 7.1% 7.0% 2,686,600 2,689,872 361,027 2,328,845 23,735 485 2,304,625 Fee Simple
Loan 14 Woodlands Mall(2)(31)(32)(33) 12/31/2018 52,962,351 9,785,492 43,176,859 12/31/2017 51,530,705 10,009,375 41,521,330 17.4% 17.0% 56,897,203 53,931,267 10,814,593 43,116,674 151,646 758,231 42,206,797 Fee Simple
Loan 15 Northpoint Tower(2) 12/31/2018 16,412,448 8,412,634 7,999,814 12/31/2017 17,403,580 8,558,873 8,844,707 11.3% 11.1% 20,660,897 18,661,374 8,452,084 10,209,290 174,667   10,034,623 Fee Simple/Leasehold
Loan 16 Dearborn IHG Portfolio 12/31/2018 7,878,907 4,307,917 3,570,990 12/31/2017 6,842,421 3,995,443 2,846,978 13.6% 12.3% 7,471,657 7,548,787 4,495,735 3,053,052 301,951   2,751,101 Fee Simple
Property 16.01 Staybridge Suites Dearborn 12/31/2018 4,432,912 2,220,877 2,212,035 12/31/2017 3,774,254 2,119,462 1,654,791     4,260,149 4,287,178 2,406,513 1,880,665 171,487   1,709,178 Fee Simple
Property 16.02 Holiday Inn Express Dearborn 12/31/2018 3,445,995 2,087,040 1,358,955 12/31/2017 3,068,167 1,875,981 1,192,186     3,211,508 3,261,609 2,089,222 1,172,387 130,464   1,041,923 Fee Simple
Loan 17 SkyEast 12/31/2018 1,907,396 384,017 1,523,379 12/31/2017 1,946,140 383,138 1,563,002 6.7% 6.7% 2,216,280 2,036,280 518,897 1,517,383 10,250   1,507,133 Fee Simple
Loan 18 951 Madison Street                 7.0% 6.9% 1,841,639 1,626,507 206,928 1,419,579 11,959 13,546 1,394,073 Fee Simple
Loan 19 Canyon Corporate Center 12/31/2017 1,974,801 447,091 1,527,710 12/31/2016 1,953,693 417,792 1,535,902 11.6% 11.4% 3,727,566 3,220,722 1,080,035 2,140,687 -105,000 132,248 2,113,439 Fee Simple
Loan 20 Philadelphia Metro Storage Portfolio 12/31/2018 2,244,928 830,925 1,414,003 12/31/2017 2,079,993 719,142 1,360,851 8.6% 8.5% 2,403,304 2,281,973 861,922 1,420,050 14,985   1,405,066 Fee Simple
Property 20.01 Metro Self Storage - Pennsauken Township 12/31/2018 1,076,357 387,522 688,835 12/31/2017 984,798 372,573 612,224     1,148,152 1,106,298 393,509 712,789 6,909   705,880 Fee Simple
Property 20.02 Metro Self Storage - Philadelphia 12/31/2018 1,168,570 443,402 725,168 12/31/2017 1,095,195 346,569 748,627     1,255,152 1,175,675 468,413 707,262 8,076   699,186 Fee Simple
Loan 21 Delta Hotels Chesapeake Norfolk 12/31/2018 6,819,466 5,484,427 1,335,039 12/31/2017 6,896,726 5,600,142 1,296,584 11.6% 11.6% 7,668,989 7,668,989 5,851,093 1,817,896     1,817,896 Fee Simple
Loan 22 Concord Center 12/31/2018 1,862,672 972,018 890,653         9.3% 9.1% 2,512,822 2,428,084 1,120,235 1,307,849 19,870 11,270 1,276,708 Fee Simple
Loan 23 Gramercy Tavern(33)                 8.5% 8.4% 1,597,872 1,549,936 357,872 1,192,064 2,105 14,030 1,175,929 Fee Simple
Loan 24 Hampton Inn & Suites Knoxville 12/31/2018 3,709,622 2,344,028 1,365,594 12/31/2017 3,626,107 2,365,802 1,260,305 10.9% 10.9% 3,785,398 3,785,398 2,314,691 1,470,707     1,470,707 Fee Simple
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 12/31/2018 4,858,332 3,009,554 1,848,778 12/31/2017 4,500,368 2,945,521 1,554,847 13.9% 13.9% 4,890,068 4,890,068 3,015,373 1,874,695     1,874,695 Fee Simple
Loan 26 Fern Marketplace(32) 12/31/2018 1,428,875 528,288 900,587         9.3% 9.2% 2,089,533 1,727,778 569,184 1,158,593 -19,149 29,308 1,148,435 Fee Simple
Loan 27 Scottsdale Crossing 12/31/2018 1,379,623 296,579 1,083,044 12/31/2017 1,382,883 298,323 1,084,560 10.3% 9.8% 1,534,770 1,468,831 304,937 1,163,893 8,456 52,850 1,102,587 Fee Simple
Loan 28 Tradecor Retail Portfolio                 9.9% 9.4% 1,458,095 1,385,190 286,791 1,098,399 9,595 44,751 1,044,052 Fee Simple
Property 28.01 Bell Rd & Litchfield Rd 12/31/2018 661,016 118,278 542,738 12/31/2017 662,283 116,215 546,068     696,462 661,639 121,891 539,748 4,750 18,251 516,747 Fee Simple
Property 28.02 Power Rd & US 60 12/31/2018 350,086 75,390 274,697 12/31/2017 311,917 71,840 240,077     461,633 438,551 77,241 361,310 1,733 17,891 341,687 Fee Simple
Property 28.03 Bullard Ave & McDowell Rd 12/31/2018 208,500   208,500 12/31/2017 209,000   209,000     205,000 194,750 83,273 111,477 2,812 5,951 102,714 Fee Simple
Property 28.04 Pebble Creek Parkway & McDowell Rd                     95,000 90,250 4,387 85,863 300 2,658 82,905 Fee Simple
Loan 29 Hotel Indigo Birmingham                 12.2% 11.1% 2,501,135 2,973,348 1,664,994 1,308,354 118,934   1,189,420 Fee Simple/Leasehold
Loan 30 The BC Remedy Building 12/31/2018 1,723,552 455,722 1,267,830 12/31/2017 1,749,940 482,110 1,267,830 11.2% 10.2% 1,891,216 1,796,655 623,386 1,173,269 16,772 86,295 1,070,203 Fee Simple
Loan 31 Courtyard Warner Robins 12/31/2018 3,817,902 2,715,392 1,102,510 12/31/2017 3,840,257 2,773,094 1,067,163 11.5% 11.5% 3,992,494 3,992,494 2,787,773 1,204,721     1,204,721 Fee Simple
Loan 32 Two Guys Commons 12/31/2018 1,629,049 580,351 1,048,698 12/31/2017 1,536,237 607,823 928,414 9.3% 8.5% 1,622,457 1,484,710 576,699 908,012 16,647 56,176 835,188 Fee Simple
Loan 33 47 Clinton Street 12/31/2018 476,269 82,653 393,616 12/31/2017 500,698 68,883 431,815 6.2% 6.2% 695,868 641,592 82,175 559,417 3,170   556,247 Fee Simple
Loan 34 TownePlace Suites Albany 12/31/2018 2,592,699 1,492,429 1,100,270         16.4% 16.4% 2,890,280 2,890,280 1,515,627 1,374,653     1,374,653 Fee Simple
Loan 35 Holiday Inn Express and Suites Los Alamos 12/31/2018 2,864,318 1,747,224 1,117,095 12/31/2017 2,485,942 1,574,525 911,417 14.0% 12.6% 2,746,022 2,788,238 1,716,458 1,071,780 111,530   960,250 Fee Simple
Loan 36 Double Door                 8.4% 8.2% 852,000 811,850 181,048 630,803 3,500 13,750 613,553 Fee Simple
Loan 37 Albertsons Corinth                 8.3% 7.7% 457,489 434,615 13,038 421,576 8,636 19,118 393,822 Fee Simple
Loan 38 2975 Breckinridge Boulevard 12/31/2018 1,093,218 406,147 687,070 12/31/2017 885,738 438,203 447,535 14.4% 12.1% 1,381,488 1,157,685 452,468 705,217 49,979 64,009 591,229 Fee Simple
Loan 39 JJL Retail Portfolio                 8.8% 8.3% 532,190 505,580 166,087 339,493 4,048 15,219 320,226 Fee Simple
Property 39.01 Palm Desert                     288,794 274,354 82,692 191,663 3,408 8,303 179,952 Fee Simple
Property 39.02 Lake Elsinore                     243,396 231,226 83,396 147,830 640 6,916 140,274 Fee Simple
Loan 40 738 East 6th Street                 6.8% 6.7% 442,816 395,416 138,787 256,629 2,750   253,879 Fee Simple

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                           
                           
      Ground Lease Ground Lease     Lease     Lease     Lease
Loan ID Property Name  Expiration(18)  Extension Terms(18) Largest Tenant(19)(20)(21)(22) SF   Expiration 2nd Largest Tenant(21)(22) SF Expiration 3rd Largest Tenant(21) SF Expiration
Loan 1 Sunset North(2)     Intellectual Ventures 152,633 05/31/2025 ArenaNet 96,839 05/31/2029 WeWork 78,303 12/31/2031
Loan 2 Mac Commons     Giant 65,711 06/30/2031 Burlington Coat Factory 56,284 02/28/2030 Dick’s Sporting Goods 50,441 01/31/2024
Loan 3 Osborn Triangle(2)(31)                      
Property 3.01 610 Main Street North     Pfizer 270,056 12/31/2031 Sulmona Restaurant Group 3,355 02/28/2027 Café Luna 2,328 03/31/2027
Property 3.02 1 Portland Street     Pfizer 229,330 01/31/2024 NAP NAP NAP NAP NAP NAP
Property 3.03 700 Main Street     Novartis Institutes for Biomedical Research, Inc. 99,883 07/31/2024 Lab Central Inc. 68,996 03/31/2027 NAP NAP NAP
Loan 4 Grand Canal Shoppes(2)(31) 5/14/2093 (Venetian Casino Resort); 2/28/2097 (Palazzo Hotel and Casino); 2/29/2064 (Walgreens) One, 40 years (Walgreens); None (Venetian Hotel and Casino and Palazzo Resort and Casino) The Venetian Casino Resort 81,105 05/31/2029 Tao Nightclub 49,441 01/31/2025 Madame ‘Tussaud Las Vegas 28,235 07/31/2024
Loan 5 Rivertowne Commons(2)     Target 84,640 09/30/2034 Safeway 49,035 10/31/2022 AMC Theatres 37,560 04/30/2030
Loan 6 900 & 990 Stewart Avenue(2) 1/31/2030 (900 Stewart Avenue); 7/31/2050 (990 Stewart Avenue) Four, 10 years and one, 14 years (900 Stewart Avenue); Two, 10 years and one, 14 years (990 Stewart Avenue) AON 60,143 09/01/2028 Wright Risk Management 37,550 06/01/2029 Meyer, Suozzi, English & Klein 35,578 02/01/2026
Loan 7 City Hyde Park(2)     Whole Foods 30,326 06/30/2036 Marshalls 26,020 05/31/2026 Michaels 18,141 02/28/2026
Loan 8 9533 Brighton Way     Isaia 3,087 06/30/2025 Monogram Capital 2,962 03/31/2024 Berluti 2,923 01/31/2028
Loan 9 Wind Creek Leased Fee(2)     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 10 30 Hudson Yards(2)(31)     WarnerMedia 1,463,234 06/30/2034 NAP NAP NAP NAP NAP NAP
Loan 11 Beverly Hills BMW(2)     Sonic Automotive 339,000 06/19/2024 NAP NAP NAP NAP NAP NAP
Loan 12 3 Columbus Circle(2)(31)     Young & Rubicam, Inc. 375,236 07/31/2033 Emerge 212 3CC LLC 57,359 11/30/2027 Nordstrom 46,991 10/31/2039
Loan 13 Ensemble     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 14 Woodlands Mall(2)(31)(32)(33)     Forever 21 85,150 06/30/2025 Dick’s Sporting Goods 83,075 01/31/2027 Barnes & Noble 30,471 01/31/2020
Loan 15 Northpoint Tower(2) 10/31/2059 None Jones Day 342,641 06/30/2026 GSA 79,151 10/31/2029 CGI Technologies & Solutions 32,919 07/31/2020
Loan 16 Dearborn IHG Portfolio                      
Property 16.01 Staybridge Suites Dearborn     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Property 16.02 Holiday Inn Express Dearborn     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 17 SkyEast     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 18 951 Madison Street     Betances Health Center 8,222 11/30/2047 NAP NAP NAP NAP NAP NAP
Loan 19 Canyon Corporate Center     Sedgwick Claims Management Services 26,614 12/01/2022 Rady Children’s Physician Management 19,962 05/01/2024 Gerdau Reinforcing Steel 16,969 07/01/2022
Loan 20 Philadelphia Metro Storage Portfolio                      
Property 20.01 Metro Self Storage - Pennsauken Township     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Property 20.02 Metro Self Storage - Philadelphia     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 21 Delta Hotels Chesapeake Norfolk     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 22 Concord Center     Cost Plus Inc 20,907 01/31/2023 Mediterrano Inc 9,256 12/31/2030 Olive Garden 8,554 08/08/2028
Loan 23 Gramercy Tavern(33)     Gramercy Tavern 14,030 08/31/2039 NAP NAP NAP NAP NAP NAP
Loan 24 Hampton Inn & Suites Knoxville     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 25 SpringHill Suites Ashburn-Dulles North(32)     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 26 Fern Marketplace(32)     Whole Foods Market, Inc. 36,235 10/31/2036 Grub Burger Bar 4,021 02/28/2026 First Watch 3,500 02/28/2028
Loan 27 Scottsdale Crossing     You Fit Health Clubs 17,351 02/28/2023 Massage Envy 2,933 02/29/2020 Ahipoki Bowl 2,434 06/30/2024
Loan 28 Tradecor Retail Portfolio                      
Property 28.01 Bell Rd & Litchfield Rd     Pacific Dental 5,200 04/30/2029 Verizon Wireless 3,000 12/31/2024 Chipotle 2,600 02/08/2027
Property 28.02 Power Rd & US 60     Verizon Wireless 4,247 05/31/2024 National Vision 4,005 07/31/2028 NAP NAP NAP
Property 28.03 Bullard Ave & McDowell Rd     P.F. Chang’s 6,249 10/31/2023 NAP NAP NAP NAP NAP NAP
Property 28.04 Pebble Creek Parkway & McDowell Rd     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 29 Hotel Indigo Birmingham     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 30 The BC Remedy Building     Measurement Incorporated 67,087 12/31/2028 NAP NAP NAP NAP NAP NAP
Loan 31 Courtyard Warner Robins     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 32 Two Guys Commons     Ashley Furniture 36,904 12/31/2021 Tractor Supply Company 25,000 05/31/2024 Aldi 21,697 06/30/2024
Loan 33 47 Clinton Street     Unfade Hair Studio, LLC 900 04/30/2026 The Rivera Group, LLC 900 05/31/2023 NAP NAP NAP
Loan 34 TownePlace Suites Albany     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 35 Holiday Inn Express and Suites Los Alamos     NAP NAP NAP NAP NAP NAP NAP NAP NAP
Loan 36 Double Door     Yeti 5,000 01/31/2029 NAP NAP NAP NAP NAP NAP
Loan 37 Albertsons Corinth     Albertson’s LLC 57,574 06/30/2039 NAP NAP NAP NAP NAP NAP
Loan 38 2975 Breckinridge Boulevard     The Reynolds & Reynolds Co. 31,065 11/30/2023 Data Recognition Corporation 28,035 09/30/2023 NAP NAP NAP
Loan 39 JJL Retail Portfolio                      
Property 39.01 Palm Desert     Pho Vu 3,522 11/30/2023 T-Mobile West, LLC 2,457 12/31/2023 NAP NAP NAP
Property 39.02 Lake Elsinore     Skechers 8,000 02/28/2029 NAP NAP NAP NAP NAP NAP
Loan 40 738 East 6th Street     NAP NAP NAP NAP NAP NAP NAP NAP NAP

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                         
                      Upfront Monthly
          Lease     Lease   Occupancy Replacement Replacement
Loan ID Property Name 4th Largest Tenant(21) SF Expiration 5th Largest Tenant(19) SF Expiration Occupancy(22) As-of Date Reserves($)(24) Reserves ($)(25)(26)(27)
Loan 1 Sunset North(2) Farmers 61,327 05/31/2029 GM Cruise 32,331 11/30/2026 98.8% 09/30/2019 12,375 12,375
Loan 2 Mac Commons Big Lots 35,418 01/31/2022 TJ Maxx 35,018 01/31/2024 96.3% 06/23/2019 648,858 4,523
Loan 3 Osborn Triangle(2)(31)             100.0% Various    
Property 3.01 610 Main Street North Boston Burger 1,984 09/30/2027 Revela 1,015 07/31/2027 100.0% 05/01/2019    
Property 3.02 1 Portland Street NAP NAP NAP NAP NAP NAP 100.0% 10/01/2019    
Property 3.03 700 Main Street NAP NAP NAP NAP NAP NAP 100.0% 05/01/2019    
Loan 4 Grand Canal Shoppes(2)(31) Regis Galerie 28,099 05/31/2025 Grand Lux Café 19,100 12/31/2029 94.0% 05/31/2019   Springing
Loan 5 Rivertowne Commons(2) Ross Dress for Less 25,069 01/31/2024 Staples 24,000 05/31/2022 97.0% 09/04/2019   7,046
Loan 6 900 & 990 Stewart Avenue(2) Contour Mortgage 21,566 10/01/2025 Nationwide 18,787 08/01/2023 88.6% 06/11/2019 1,000,000  
Loan 7 City Hyde Park(2) RGN-Chicago XXXII LLC 16,614 07/31/2026 Hyde Park OneFish TwoFish LLC 5,255 07/31/2027 96.7% 06/03/2019 4,834 4,834
Loan 8 9533 Brighton Way Vhernier USA 1,642 01/31/2028 Boglioli 1,490 01/31/2029 88.6% 08/20/2019 195 195
Loan 9 Wind Creek Leased Fee(2) NAP NAP NAP NAP NAP NAP NAP NAP   Springing
Loan 10 30 Hudson Yards(2)(31) NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019   Springing
Loan 11 Beverly Hills BMW(2) NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019   Springing
Loan 12 3 Columbus Circle(2)(31) Jazz at Lincoln Center, Inc. 30,653 04/30/2028 Josephson 22,742 12/31/2032 97.2% 01/01/2019   Springing
Loan 13 Ensemble NAP NAP NAP NAP NAP NAP 79.6% 08/29/2019   1,978
Loan 14 Woodlands Mall(2)(31)(32)(33) Woodlands Financial Group 22,359 03/31/2027 Macy’s Children’s 17,161 01/31/2022 95.8% 05/28/2019   Springing
Loan 15 Northpoint Tower(2) Willis Towers Watson US LLC 28,135 12/31/2025 RSM US LLP 25,753 05/31/2021 79.5% 5/16/2019 & 7/16/2019   14,556
Loan 16 Dearborn IHG Portfolio             75.5% 06/30/2019   25,366
Property 16.01 Staybridge Suites Dearborn NAP NAP NAP NAP NAP NAP 86.4% 06/30/2019    
Property 16.02 Holiday Inn Express Dearborn NAP NAP NAP NAP NAP NAP 65.5% 06/30/2019    
Loan 17 SkyEast NAP NAP NAP NAP NAP NAP 100.0% 06/01/2019 854 854
Loan 18 951 Madison Street NAP NAP NAP NAP NAP NAP 83.8% 07/16/2019   771
Loan 19 Canyon Corporate Center Braemer Manufacturing, LLC 8,008 05/01/2020 Terra Costa Consulting Group 6,331 03/01/2021 86.6% 05/31/2019 800,000 Springing
Loan 20 Philadelphia Metro Storage Portfolio             91.2% 07/21/2019 170,131 1,249
Property 20.01 Metro Self Storage - Pennsauken Township NAP NAP NAP NAP NAP NAP 92.0% 07/21/2019    
Property 20.02 Metro Self Storage - Philadelphia NAP NAP NAP NAP NAP NAP 90.5% 07/21/2019    
Loan 21 Delta Hotels Chesapeake Norfolk NAP NAP NAP NAP NAP NAP 68.8% 07/31/2019 31,954 31,954
Loan 22 Concord Center Nique-Elle’s Inc 7,600 09/01/2031 Five Twenty Four Inc 7,112 01/31/2026 95.4% 07/18/2019 1,133,483 1,656
Loan 23 Gramercy Tavern(33) NAP NAP NAP NAP NAP NAP 100.0% 10/01/2019   292
Loan 24 Hampton Inn & Suites Knoxville NAP NAP NAP NAP NAP NAP 80.0% 08/31/2019 12,620 12,620
Loan 25 SpringHill Suites Ashburn-Dulles North(32) NAP NAP NAP NAP NAP NAP 79.4% 06/30/2019   Springing
Loan 26 Fern Marketplace(32) Orange Theory Fitness 3,148 07/31/2027 Hollywood Feed 3,000 06/30/2023 85.7% 07/31/2019 847 847
Loan 27 Scottsdale Crossing On Communications 2,434 06/30/2022 Einstein Bagels 2,407 04/30/2026 97.1% 06/11/2019 705 705
Loan 28 Tradecor Retail Portfolio             100.0% Various 11,500 800
Property 28.01 Bell Rd & Litchfield Rd FedEx 1,700 04/30/2027 NAP NAP NAP 100.0% 06/30/2019    
Property 28.02 Power Rd & US 60 NAP NAP NAP NAP NAP NAP 100.0% 12/03/2018    
Property 28.03 Bullard Ave & McDowell Rd NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019    
Property 28.04 Pebble Creek Parkway & McDowell Rd NAP NAP NAP NAP NAP NAP NAP NAP    
Loan 29 Hotel Indigo Birmingham NAP NAP NAP NAP NAP NAP 71.7% 07/31/2019   Greater of (i) 4.0% of the projected Gross Revenue for the Property for the prior month, (ii) the then-current amount required by the Management Agreement and (iii) the then-current amount required by the Franchise Agreement for Approved Capital Expenditures and the repair and replacement of the FF&E
Loan 30 The BC Remedy Building NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019 77,000 1,398
Loan 31 Courtyard Warner Robins NAP NAP NAP NAP NAP NAP 72.2% 07/31/2019 13,310 13,310
Loan 32 Two Guys Commons Crunch Fitness 15,254 02/28/2027 NAP NAP NAP 89.1% 05/31/2019   1,387
Loan 33 47 Clinton Street NAP NAP NAP NAP NAP NAP 100.0% 05/29/2019 178 178
Loan 34 TownePlace Suites Albany NAP NAP NAP NAP NAP NAP 80.0% 07/31/2019 9,650 9,650
Loan 35 Holiday Inn Express and Suites Los Alamos NAP NAP NAP NAP NAP NAP 85.6% 06/30/2019   9,294
Loan 36 Double Door NAP NAP NAP NAP NAP NAP 100.0% 08/02/2019   292
Loan 37 Albertsons Corinth NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019   Springing
Loan 38 2975 Breckinridge Boulevard NAP NAP NAP NAP NAP NAP 84.0% 06/27/2019   7,245
Loan 39 JJL Retail Portfolio             100.0% Various   337
Property 39.01 Palm Desert NAP NAP NAP NAP NAP NAP 100.0% 08/15/2019    
Property 39.02 Lake Elsinore NAP NAP NAP NAP NAP NAP 100.0% 10/06/2019    
Loan 40 738 East 6th Street NAP NAP NAP NAP NAP NAP 90.9% 05/29/2019 229 229

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES 

                         
      Upfront Monthly Upfront Monthly Upfront Monthly Upfront Upfront Monthly Other
      TI/LC TI/LC Tax Tax Insurance Insurance Engineering Other Other Reserves
Loan ID Property Name Reserves ($)(24) Reserves ($)(25)(26) Reserves ($)(24) Reserves ($)(25) Reserves($)(24) Reserves ($)(25) Reserve($)(24) Reserves ($)(24) Reserves ($)(25) Description
Loan 1 Sunset North(2) 38,672 38,672 153,562 153,562 166,282 33,256   14,787,464   Outstanding TI/LC Reserve (Upfront: 14,380,753.87); Free Rent Reserve (Upfront: 406,709.78)
Loan 2 Mac Commons   15,075 58,523 58,523 50,324 10,065 8,750 2,733,582   Unfunded Obligations Reserve (Upfront: 2,691,215.82); Condominium Assessment Reserve Funds (Upfront: 42,365.74)
Loan 3 Osborn Triangle(2)(31)       Springing   Springing        
Property 3.01 610 Main Street North                    
Property 3.02 1 Portland Street                    
Property 3.03 700 Main Street                    
Loan 4 Grand Canal Shoppes(2)(31)   Springing   Springing   Springing   13,527,940 Springing Outstanding TI/LC Reserve (Upfront: 12,309,694); Gap Rent Reserve (Upfront: 1,218,246); Ground Rent Reserve (Monthly: Springing)
Loan 5 Rivertowne Commons(2)   12,500   Springing   Springing   9,375   Environmental Reserve
Loan 6 900 & 990 Stewart Avenue(2) 7,000,000   520,691 173,564 46,815 16,073   2,774,228 Springing Outstanding TI/LC Reserve (Upfront: 1,595,038); Master Lease Reserve (Upfront: 831,093; Monthly: Springing); Free Rent Reserve (Upfront: 327,772); Ground Lease Reserve (Upfront: 20,325; Monthly: Springing)
Loan 7 City Hyde Park(2) 11,465 11,465 360,081 120,027 70,907 8,863   446,473   Outstanding TI/LC Reserve (Upfront: 421,473); OneFish TwoFish Reserve (Upfront: 25,000)
Loan 8 9533 Brighton Way 2,382 2,382 170,489 42,623   Springing   567,106   Outstanding TI Reserve (Upfront: 525,188); Free Rent Reserve (Upfront: 41,918)
Loan 9 Wind Creek Leased Fee(2)   Springing   Springing   Springing   1,365,880 Springing Debt Service Reserve (Upfront: 1,365,879.90); Lease Sweep Funds (Monthly Springing: Excess Cash Flow)
Loan 10 30 Hudson Yards(2)(31)   Springing   Springing   Springing     Springing Condominium Reserve
Loan 11 Beverly Hills BMW(2)   Springing 1,534,640 6,581   Springing   500,000 Springing Debt Service Reserve
Loan 12 3 Columbus Circle(2)(31)   Springing   Springing   Springing   2,668,685 Springing Outstanding TI/LC Reserve (Upfront: 1,820,891.36); Free Rent Reserve (Upfront: 847,793.62); Young & Rubicam Reserve (Monthly Springing: Excess Cash Flow)
Loan 13 Ensemble       40,780 71,035 7,104   2,209,363 Springing Economic Holdback Reserve (Upfront: $1,720,000); 421-a Tax Reserve (Upfront: $489,363; Monthly: Springing)
Loan 14 Woodlands Mall(2)(31)(32)(33)   Springing   Springing   Springing   2,174,886 Springing Tenant Improvement Reserve (2,174,886); Major Anchor Sweep Reserve Funds (Monthly Springing: Excess Cash Flow)
Loan 15 Northpoint Tower(2) 10,500,000 Springing 1,379,655 344,914   Springing   3,409,497 85,758 Unfunded Obligations Reserve (Upfront: 2,109,853); Free Rent Reserve (Upfront: 1,259,644; Monthly: 75,758); Ground Rent Reserve (Upfront: 40,000; Monthly: 1/12 of annual ground rent)
Loan 16 Dearborn IHG Portfolio     79,736 39,868 25,595 5,119     Springing PIP Reserve
Property 16.01 Staybridge Suites Dearborn                    
Property 16.02 Holiday Inn Express Dearborn                    
Loan 17 SkyEast     65,682 21,784   Springing   2,450,000   Accretive Leasing Reserve (Upfront: 2,000,000); Municipal Violation Reserve (Upfront: 250,000); Community Space Work Reserve (Upfront: 200,000)
Loan 18 951 Madison Street   Springing 6,205 1,551 11,053 3,684 750 216,039 Springing 421-a Reserve Funds (Upfront: 216,039.25); Condominium Assessment Reserve Funds (Monthly: Springing)
Loan 19 Canyon Corporate Center 1,050,000 Springing 168,951 28,159   Springing   57,012   Free Rent Reserve
Loan 20 Philadelphia Metro Storage Portfolio     40,066 20,033 4,788 4,788 49,700 150,000   Environmental Reserve
Property 20.01 Metro Self Storage - Pennsauken Township                    
Property 20.02 Metro Self Storage - Philadelphia                    
Loan 21 Delta Hotels Chesapeake Norfolk     36,521 14,267   Springing     Springing PIP Reserve
Loan 22 Concord Center 10,349 10,349 38,614 38,614   Springing 78,838 130,317   Free Rent Reserve (Upfront: 74,624); Outstanding TI Reserve (Upfront: 55,693)
Loan 23 Gramercy Tavern(33)     68,495 22,832 144,869 Springing        
Loan 24 Hampton Inn & Suites Knoxville     110,320 13,790   Springing     Springing PIP Reserve (Monthly: Springing); Franchise Trigger Reserve (Monthly: Springing)
Loan 25 SpringHill Suites Ashburn-Dulles North(32)     73,117 15,153   Springing 7,425 150,645 Springing PIP Reserve
Loan 26 Fern Marketplace(32) 101,588 Springing 215,734 31,741   Springing   619,937   Accretive Leasing Reserve (Upfront: 503,633); Outstanding TI Reserve (Upfront: 93,757.53); Free Rent Reserve (Upfront: 22,546.85)
Loan 27 Scottsdale Crossing 4,404 4,404 48,668 8,111   Springing 15,685 7,000   Outstanding TI Reserve
Loan 28 Tradecor Retail Portfolio   3,729 121,617 15,202 705 705 9,446 42,500   Unfunded Obligations Reserve
Property 28.01 Bell Rd & Litchfield Rd                    
Property 28.02 Power Rd & US 60                    
Property 28.03 Bullard Ave & McDowell Rd                    
Property 28.04 Pebble Creek Parkway & McDowell Rd                    
Loan 29 Hotel Indigo Birmingham     10,108 1,011   Springing 7,000 750,000   Earn-Out Reserve (Upfront: 430,000); Parking Reserve (Upfront: 320,000)
Loan 30 The BC Remedy Building   6,988 130,833 13,083 1,596 1,596 1,875 111,660   Environmental Work Reserve
Loan 31 Courtyard Warner Robins     49,075 5,453   Springing   917,374   PIP Reserve
Loan 32 Two Guys Commons 150,000 Springing   Springing   Springing   31,900   Water Tower Reserve (Upfront: 31,400); O&M Plan Reserve (Upfront: 500)
Loan 33 47 Clinton Street 75 75 2,537 2,537   Springing        
Loan 34 TownePlace Suites Albany     68,455 7,606   Springing     Springing PIP Reserve
Loan 35 Holiday Inn Express and Suites Los Alamos     27,782 4,630   Springing   2,239,473 Springing PIP Reserve
Loan 36 Double Door   Springing 32,691 8,173 2,203 1,102   703,928   Unfunded Obligations Reserve
Loan 37 Albertsons Corinth       Springing   Springing        
Loan 38 2975 Breckinridge Boulevard   5,866 89,310 8,119 10,879 989   186,246   Unfunded Obligations Reserve (Upfront: 126,157.50); Free Rent Reserve (Upfront: 60,088.36)
Loan 39 JJL Retail Portfolio   1,268 37,902 6,317 356 356 5,250      
Property 39.01 Palm Desert                    
Property 39.02 Lake Elsinore                    
Loan 40 738 East 6th Street     7,541 7,510   Springing   9,816   Municipal Violation Reserve

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                   
      Environmental     Franchise      
      Report Engineering   Expiration Loan    
Loan ID Property Name Date(28)(29) Report Date PML/SEL (%) Date Purpose Sponsor(23) Guarantor(30)
Loan 1 Sunset North(2) 08/28/2019 08/28/2019 7%-9% NAP Acquisition Kennedy-Wilson Holdings, Inc. Kennedy-Wilson Holdings, Inc.
Loan 2 Mac Commons 07/02/2019 07/02/2019 NAP NAP Refinance Peter C. Abrams Peter C. Abrams
Loan 3 Osborn Triangle(2)(31) 04/10/2019 04/10/2019 NAP   Acquisition NAP NAP
Property 3.01 610 Main Street North 04/10/2019 04/10/2019 NAP NAP      
Property 3.02 1 Portland Street 04/10/2019 04/10/2019 NAP NAP      
Property 3.03 700 Main Street 04/10/2019 04/10/2019 NAP NAP      
Loan 4 Grand Canal Shoppes(2)(31) 05/15/2019 03/18/2019 NAP NAP Refinance Grand Canal Shoppes Holdings, LLC BPR Nimbus LLC
Loan 5 Rivertowne Commons(2) 08/07/2019 08/09/2019 NAP NAP Refinance Daniel Massry; Saul Tawil Daniel Massry; Saul Tawil
Loan 6 900 & 990 Stewart Avenue(2) 01/23/2019 01/21/2019 NAP NAP Acquisition Leibel Lederman Leibel Lederman
Loan 7 City Hyde Park(2) 06/13/2019 06/10/2019 NAP NAP Refinance Antheus Capital LARP Holdings, LLC
Loan 8 9533 Brighton Way 08/12/2019 08/13/2019 19.0% NAP Refinance David Dushey David Dushey
Loan 9 Wind Creek Leased Fee(2) 07/17/2019 NAP NAP NAP Recapitalization Jeffrey Gural; Barry Gosin; James Kuhn; Michael Perrucci; Richard Fischbein Jeffrey Gural; Barry Gosin; James Kuhn; Michael Perrucci; Richard Fischbein
Loan 10 30 Hudson Yards(2)(31) 05/30/2019 06/03/2019 NAP NAP Acquisition 30 HY WM REIT Owner LP NAP
Loan 11 Beverly Hills BMW(2) 05/08/2019 07/24/2019 10.0% NAP Acquisition KAFAM Properties, Inc. KAFAM Properties, Inc.
Loan 12 3 Columbus Circle(2)(31) 01/22/2019 01/22/2019 NAP NAP Refinance Joseph Moinian Joseph Moinian
Loan 13 Ensemble 07/29/2019 07/26/2019 NAP NAP Refinance Joel Wertzberger Joel Wertzberger
Loan 14 Woodlands Mall(2)(31)(32)(33) 05/03/2019 04/28/2019 NAP NAP Refinance Brookfield Property REIT Inc.; Brookfield Property Partners L.P.; Brookfield Asset Management Inc. BPR OP, LP (F/K/A GGP Operating Partnership, LP)
Loan 15 Northpoint Tower(2) 07/31/2019 07/29/2019 NAP NAP Refinance William Z. Hertz; Isaac Hertz; Sarah Hertz William Z. Hertz; Isaac Hertz; Sarah Hertz
Loan 16 Dearborn IHG Portfolio 07/22/2019 07/19/2019 NAP   Refinance Malik Abdi Abdulnoor Malik Abdi Abdulnoor
Property 16.01 Staybridge Suites Dearborn 07/22/2019 07/19/2019 NAP 04/13/2036      
Property 16.02 Holiday Inn Express Dearborn 07/22/2019 07/19/2019 NAP 07/25/2036      
Loan 17 SkyEast 06/07/2019 06/07/2019 NAP NAP Refinance Benjamin Shaoul Benjamin Shaoul
Loan 18 951 Madison Street 07/31/2019 07/31/2019 NAP NAP Refinance David Feldman; Daniel Gerard; Henry Hewes; Tucker Hewes T/U/A; Justin Stern David Feldman; Daniel Gerard; Henry Hewes; Tucker Hewes T/U/A; Justin Stern
Loan 19 Canyon Corporate Center 07/08/2019 07/08/2019 10.0% NAP Acquisition Stephen M. Zotovich Stephen M. Zotovich
Loan 20 Philadelphia Metro Storage Portfolio Various 06/14/2019 NAP   Acquisition Jacob Ramage Jacob Ramage
Property 20.01 Metro Self Storage - Pennsauken Township 06/20/2019 06/14/2019 NAP NAP      
Property 20.02 Metro Self Storage - Philadelphia 06/18/2019 06/14/2019 NAP NAP      
Loan 21 Delta Hotels Chesapeake Norfolk 05/06/2019 05/07/2019 NAP 12/06/2036 Refinance Malay H. Thakkar; Neel D. Desai Malay H. Thakkar; Neel D. Desai
Loan 22 Concord Center 06/07/2019 06/07/2019 NAP NAP Refinance Jeff Hauptman Jeff Hauptman
Loan 23 Gramercy Tavern(33) 07/10/2019 07/10/2019 NAP NAP Refinance Union Square Hospitality Group, LLC Union Square Hospitality Group, LLC
Loan 24 Hampton Inn & Suites Knoxville 05/24/2019 05/30/2019 NAP 04/20/2026 Refinance Shailesh V. Patel Shailesh V. Patel
Loan 25 SpringHill Suites Ashburn-Dulles North(32) 07/18/2019 07/22/2019 NAP 09/05/2039 Acquisition Waheed Ashiq; Vipul Kapila; Khurram Sindhu Waheed Ashiq; Vipul Kapila; Khurram Sindhu
Loan 26 Fern Marketplace(32) 05/09/2019 05/07/2019 NAP NAP Refinance Jeffrey A. Read; C. Ewing King Jeffrey A. Read; C. Ewing King
Loan 27 Scottsdale Crossing 07/09/2019 07/09/2019 NAP NAP Refinance Alan C. Fox Alan C. Fox
Loan 28 Tradecor Retail Portfolio Various Various NAP   Acquisition Danielle B. Carlson; DML Trust U/T/A dated November 28, 2012 Danielle B. Carlson; DML Trust U/T/A dated November 28, 2012
Property 28.01 Bell Rd & Litchfield Rd 06/27/2019 08/09/2019 NAP NAP      
Property 28.02 Power Rd & US 60 06/28/2019 08/09/2019 NAP NAP      
Property 28.03 Bullard Ave & McDowell Rd 06/26/2019 08/07/2019 NAP NAP      
Property 28.04 Pebble Creek Parkway & McDowell Rd 06/26/2019 NAP NAP NAP      
Loan 29 Hotel Indigo Birmingham 08/06/2019 08/06/2019 NAP 04/21/2038 Refinance Sonial Patel; Monica Patel Sonial Patel; Monica Patel
Loan 30 The BC Remedy Building 07/09/2019 07/09/2019 NAP NAP Refinance Henry H. Scherich Henry H. Scherich
Loan 31 Courtyard Warner Robins 06/05/2019 06/04/2019 NAP 12/17/2030 Refinance PeachState Hospitality, LLC Dilipkumar Patel; Nareshbhai Patel; Bharat Patel
Loan 32 Two Guys Commons 08/27/2019 08/28/2019 NAP NAP Acquisition Leo S. Ullman; Robert F. Whalen, Jr. Leo S. Ullman; Robert F. Whalen, Jr.
Loan 33 47 Clinton Street 09/18/2018 08/31/2018 NAP NAP Refinance Icon Realty Management Terrence Lowenberg; Todd Cohen
Loan 34 TownePlace Suites Albany 06/05/2019 06/04/2019 NAP 01/08/2038 Refinance PeachState Hospitality, LLC Dilipkumar Patel; Hiteshbhai Patel; Bharat Patel; Mamtaben Patel
Loan 35 Holiday Inn Express and Suites Los Alamos 07/08/2019 07/08/2019 NAP 08/28/2034 Acquisition Brian Patrick Martin; N. Leonard Fox; Edward D. Herrick Brian Patrick Martin; N. Leonard Fox; Edward D. Herrick
Loan 36 Double Door 05/02/2019 05/02/2019 NAP NAP Refinance CA Residential, LLC CA Residential, LLC
Loan 37 Albertsons Corinth 09/06/2019 09/06/2019 NAP NAP Acquisition Anthony Francis; Anthony J. Francis Living Trust Anthony Francis; Anthony J. Francis Living Trust
Loan 38 2975 Breckinridge Boulevard 07/01/2019 07/01/2019 NAP NAP Refinance Michael Mammon; Anthony Mammon; Laurence Mammon Michael Mammon; Anthony Mammon; Laurence Mammon
Loan 39 JJL Retail Portfolio Various 08/07/2019 Various   Acquisition Jonathan J. Lee; June Lee; J & E Real Estate Trust Jonathan J. Lee; June Lee; J & E Real Estate Trust
Property 39.01 Palm Desert 08/09/2019 08/07/2019 9.0% NAP      
Property 39.02 Lake Elsinore 08/08/2019 08/07/2019 11.0% NAP      
Loan 40 738 East 6th Street 06/07/2019 06/07/2019 NAP NAP Refinance Benjamin Shaoul Benjamin Shaoul

 

 

 

Benchmark 2019-B13

 

ANNEX A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES

                   
              Existing   Future Debt
              Additional Sub Debt   Permitted
Loan ID Property Name Previous Securitization Non-Trust Pari Passu Original Balance Non-Trust Pari Passu Cut-off Date Balance Non-Trust Pari Passu Balloon Balance Amount Existing Additional Sub Debt Description Type
Loan 1 Sunset North(2)   75,000,000 75,000,000 75,000,000   None NAP
Loan 2 Mac Commons BSPRT 2018-FL3         None NAP
Loan 3 Osborn Triangle(2)(31)   380,000,000 380,000,000 380,000,000 145,000,000 B Note NAP
Property 3.01 610 Main Street North   153,387,826 153,387,826 153,387,826      
Property 3.02 1 Portland Street   135,478,261 135,478,261 135,478,261      
Property 3.03 700 Main Street   91,133,913 91,133,913 91,133,913      
Loan 4 Grand Canal Shoppes(2)(31) GSMS 2012-SHOP 710,000,000 710,000,000 710,000,000 215,000,000 B Note NAP
Loan 5 Rivertowne Commons(2) JPMBB 2013-C17 21,000,000 21,000,000 21,000,000   None NAP
Loan 6 900 & 990 Stewart Avenue(2)   39,000,000 39,000,000 39,000,000   None NAP
Loan 7 City Hyde Park(2)   67,000,000 67,000,000 61,504,367   None NAP
Loan 8 9533 Brighton Way           None NAP
Loan 9 Wind Creek Leased Fee(2)   105,000,000 104,800,645 89,889,032   None NAP
Loan 10 30 Hudson Yards(2)(31)   1,080,000,000 1,080,000,000 1,080,000,000 310,000,000 B Note NAP
Loan 11 Beverly Hills BMW(2)   20,000,000 20,000,000 20,000,000   None NAP
Loan 12 3 Columbus Circle(2)(31) CGCMT 2015-GC29 452,500,000 452,500,000 452,500,000 105,000,000 B Notes NAP
Loan 13 Ensemble           None NAP
Loan 14 Woodlands Mall(2)(31)(32)(33)   217,600,000 217,600,000 217,600,000 216,903,446 $177,400,000 B Note; $39,503,446 Mezzanine Mezzanine
Loan 15 Northpoint Tower(2) JPMCC 2017-FL10 65,500,000 65,500,000 65,500,000   None NAP
Loan 16 Dearborn IHG Portfolio           None NAP
Property 16.01 Staybridge Suites Dearborn              
Property 16.02 Holiday Inn Express Dearborn              
Loan 17 SkyEast           None NAP
Loan 18 951 Madison Street           None NAP
Loan 19 Canyon Corporate Center           None NAP
Loan 20 Philadelphia Metro Storage Portfolio           None NAP
Property 20.01 Metro Self Storage - Pennsauken Township              
Property 20.02 Metro Self Storage - Philadelphia              
Loan 21 Delta Hotels Chesapeake Norfolk           None NAP
Loan 22 Concord Center           None NAP
Loan 23 Gramercy Tavern(33)           None Mezzanine
Loan 24 Hampton Inn & Suites Knoxville           None NAP
Loan 25 SpringHill Suites Ashburn-Dulles North(32)         3,000,000 Mezzanine Debt NAP
Loan 26 Fern Marketplace(32)         3,000,000 Mezzanine Debt NAP
Loan 27 Scottsdale Crossing           None NAP
Loan 28 Tradecor Retail Portfolio           None NAP
Property 28.01 Bell Rd & Litchfield Rd              
Property 28.02 Power Rd & US 60              
Property 28.03 Bullard Ave & McDowell Rd              
Property 28.04 Pebble Creek Parkway & McDowell Rd              
Loan 29 Hotel Indigo Birmingham           None NAP
Loan 30 The BC Remedy Building           None NAP
Loan 31 Courtyard Warner Robins           None NAP
Loan 32 Two Guys Commons VNO 2010-VNO         None NAP
Loan 33 47 Clinton Street           None NAP
Loan 34 TownePlace Suites Albany           None NAP
Loan 35 Holiday Inn Express and Suites Los Alamos           None NAP
Loan 36 Double Door           None NAP
Loan 37 Albertsons Corinth           None NAP
Loan 38 2975 Breckinridge Boulevard           None NAP
Loan 39 JJL Retail Portfolio           None NAP
Property 39.01 Palm Desert              
Property 39.02 Lake Elsinore              
Loan 40 738 East 6th Street           None NAP

 

 

 

Benchmark 2019-B13
FOOTNOTES TO ANNEX A-1
   
(1) GACC—German American Capital Corporation or one of its affiliates; JPMCB—JPMorgan Chase Bank, National Association or one of its affiliates; CREFI—Citi Real Estate Funding Inc. or one of its affiliates.

 

  Loan Number Mortgage Loan Seller Property Name Cut-off Date Balance ($) Non-Trust Pari Passu Cut-off Date Balance Controlling Note Governing PSA
  1 JPMCB Sunset North $75,000,000 $75,000,000 Yes Benchmark 2019-B13
  3 JPMCB Osborn Triangle $50,000,000 $380,000,000 No JPMCC 2019-OSB
  4 JPMCB Grand Canal Shoppes $50,000,000 $710,000,000 No MSC 2019-H7
  5 CREFI Rivertowne Commons $45,000,000 $21,000,000 Yes Benchmark 2019-B13
  6 JPMCB 900 & 990 Stewart Avenue $45,000,000 $39,000,000 Yes Benchmark 2019-B13
(2) 7 JPMCB City Hyde Park $45,000,000 $67,000,000 Yes Benchmark 2019-B13
  9 GACC Wind Creek Leased Fee $41,521,017 $104,800,645 Yes Benchmark 2019-B13
  10 GACC 30 Hudson Yards $40,000,000 $1,080,000,000 No Hudson Yards 2019-30HY
  11 GACC Beverly Hills BMW $39,490,000 $20,000,000 Yes Benchmark 2019-B13
  12 JPMCB 3 Columbus Circle $37,500,000 $452,500,000 No Benchmark 2019-B10
  14 GACC Woodlands Mall $30,000,000 $217,600,000 No Benchmark 2019-B12
  15 CREFI Northpoint Tower $25,000,000 $65,500,000 No GSMS 2019-GC42

   
  * Prior to the applicable servicing shift securitization date, the related whole loans will be serviced under the pooling and servicing agreement for this transaction. From and after the related servicing shift securitization date, the related servicing shift whole loan will be serviced under the related servicing shift pooling and servicing agreement.
   
(3) With respect to any Mortgaged Property securing a multi-property Mortgage Loan, the amounts listed under the headings “Original Balance ($)” and “Cut-off Date Balance ($)” reflect the Allocated Loan Amount for such Mortgaged Property.
  ●     Loan No. 3 – Osborn Triangle
  ●     Loan No. 16 – Dearborn IHG Portfolio
  ●     Loan No. 20 – Philadelphia Metro Storage Portfolio
  ●     Loan No. 28 – Tradecor Retail Portfolio
  ●     Loan No. 39 – JJL Retail Portfolio

                             
(4)       Office Retail Multifamily Self Storage
  Loan No.

Mortgage

Loan

Total NRA NRA Occ. % of GPR NRA Occ. % of GPR Units Occ. % of GPR NRA Occ. % of GPR
(sq. ft.) (sq. ft.) (sq. ft.) (sq. ft.)
  3 Osborn Triangle                          
  7 City Hyde Park(1)         110,062 100.00% 45.20% 180 96.70% 52.70%      
  8 9533 Brighton Way 14,294 3,812 77.70% 9.30% 10,482 92.60% 90.70%            
  12 3 Columbus Circle(2) 753,713 674,007 96.90% 66.40% 74,701 100.00% 27.70%            
  18 951 Madison Street         9,657 100.00% 17.40% 37 83.80% 79.30% 3,889 100.00% 3.40%
  22 Concord Center 99,352 42,693 89.30% 45.10% 56,659 100.00% 54.90%            
  33 47 Clinton Street         1,800 100.00% 23.50% 10 100.00% 76.50%      
  36 Double Door         5,000 100.00% 56.30% 11 100.00% 56.30%      

  

  (1)     The primary Units of Measure is the number of residential units. The retail portion has 110,062 sq. ft., which is 100.0% occupied.
   
  (2)     Total net rentable area (sq. ft.) for the Mortgaged Property includes 4,687 sq. ft. or storage space and 218 sq. ft. of telecom space.
   
(5) Loan No. 22 – Concord Center – Pursuant to the lease between the borrower and Cost Plus Inc., the largest tenant at the Mortgaged Property, the borrower may not lease space at the Mortgaged Property to a tenant that uses 5,000 sq. ft. or more of its premises to display/sell gourmet foods, beer and wine for off-premises consumption, or products made from wicker or rattan. In addition, the Concord Center Planned Unit Development Agreement recorded against the title of the Mortgaged Property restricts the Mortgaged Property from use as a toy store, appliance store, shoe store over 6,000 sq. ft., or gas station.

Loan No. 24 – Hampton Inn & Suites Knoxville – Pursuant to a certain Special Warranty Deed (the “Deed”) dated March 17, 2000, the borrowers may not use a portion of the Mortgaged Property as a gas station effective until 2025. Further pursuant to the Deed, BP Exploration & Oil, Inc. (“BP”), the previous owner of a portion of the Mortgaged Property, has a right of access to enter and perform any necessary remediation of certain contamination, as required by the government.

Loan No. 27 – Scottsdale Crossing – The Mortgaged Property is subject to a certain Declaration of Restrictions and Grant of Easements dated June 29, 1990, as amended from time to time, which contains various use restrictions including, without limitation, the following: (1) Chipotle, the third largest tenant by net rentable area, cannot have beer and wine sales that exceed 10% of gross sales, (2) Smashburger, the third largest tenant by net rentable area, cannot have beer and wine sales that exceed 10% of gross sales, (3) that portion of the building occupied by Ahipoki Bowl, the second largest tenant by net rentable area, cannot be used as a restaurant, and (4) no portion of the Mortgaged Property can be used as a massage parlor. For additional information, see “Description of the Mortgage Pool—Use Restrictions” in this Preliminary Prospectus.
   
(6) The Administrative Cost Rate includes the respective per annum rates applicable to the calculation of the servicing fee, any sub-servicing fee, trustee/certificate administrator fee, operating advisor fee, and CREFC® license fee with respect to each Mortgage Loan. For purposes of this Annex A-1, the definition of Administrative Fee Rate as it relates to any Non-Serviced Mortgage Loan includes the related Pari Passu Loan Primary Servicing Fee Rate which includes the “primary servicing fee rate” (as defined or set forth in the applicable pooling and servicing agreement) and any other related servicing or any sub-servicing fee rate (other than those payable to the applicable special servicer) applicable to such Non-Serviced Mortgage Loan that constitutes a portion of the “servicing fee rate” applicable to the other master servicer under the applicable other pooling and servicing agreement. See “Summary of Terms – Offered Certificates – Servicing and Administration Fees – Non-Serviced Whole Loans” in this Preliminary Prospectus.
   
(7) Annual Debt Service ($), Monthly Debt Service ($), Underwritten NOI DSCR and Underwritten NCF DSCR for Mortgage Loans (i) except as described above for loans with planned amortization, with partial interest only periods are shown based on the monthly debt service payment immediately following the expiration of the interest only period and (ii) that are interest only until the related maturity date are shown based on the interest only payments during the 12 month period following the Cut off Date (or, in the case of Monthly Debt Service ($), the average of such interest only payments) without regard to leap year adjustments.
   
  Loan No. 1 – Sunset North – The Underwritten Revenue ($) includes disbursements from the free rent reserves.

 

 

   
  Loan No. 13 – Ensemble – The economic holdback will be released in installments, not more than once per month up until and including the 36th monthly payment date, but no release request can be made after the 36th month payment date, where each installment is equal to an amount which, if released, will not cause the debt yield (based upon the proposed net loan amount after giving effect to the proposed release) to be less than 7.0%, provided that upon each release request made by the borrower (i) no event of default has occurred and is continuing, (ii) no trigger period under the loan documents and is continuing, (iii) the lender has determined the debt yield for the immediately prior calendar quarter equals or exceeds 7% (based on the proposed net loan amount after giving effect to the release of the proposed release amount), (iv) the lender has determined that the property has achieved an occupancy rate of 90% with respect to the residential units and (v) the borrower has delivered the final certificate of 421-a tax abatement eligibility. In the event that the economic holdback reserve funds have not been fully released on or prior to the November 6, 2022, the lender has the right to hold the economic holdback reserve funds as additional collateral for the Ensemble loan and as additional security for all of the borrower’s obligations under the Ensemble loan documents
   
(8) “Hard” generally means each tenant is required to transfer its rent directly to the lender controlled lockbox account. However, with respect to hospitality properties, “Hard” means all credit card receipts are deposited directly into the lockbox by the card processing company and all over the-counter cash and equivalents are required to be deposited by the property manager or borrower into the lockbox. “Soft” means the borrower has established a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. “Springing Soft” means that upon the occurrence of a trigger event (as specified in the related Mortgage Loan Documents), the borrower is required to establish a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. “Springing Hard” means that upon a trigger event (as specified in the related Mortgage Loan Documents), each tenant will be required to transfer its rent directly to a lender controlled lockbox.
“Soft Springing Hard” means the borrower has established a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account, but upon a trigger event (as specified in the related Mortgage Loan Documents), each tenant will be required to transfer its rent directly to a lender controlled lockbox.
   
(9) “In Place” means that related property cash flows go through a waterfall of required reserve or other payment amounts due before the lender either (i) disburses excess cash to the related borrower or (ii) retains excess cash as additional collateral for the Mortgage Loan. “Springing” means that upon the occurrence of a trigger event, as defined in the related Mortgage Loan Documents, In Place cash management (as described above) will take effect, and will generally continue until all trigger events are cured (to the extent a cure is permitted under the related Mortgage Loan Documents). [anchor to Cash Management
   
(10) With respect to the loans referenced below structured with A/B Notes, the Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) calculations exclude the subordinate secured debt.
● Loan No. 3 – Osborn Triangle
● Loan No. 4 – Grand Canal Shoppes
● Loan No. 10 – 30 Hudson Yards
● Loan No. 12 – 3 Columbus Circle
● Loan No. 14 – Woodlands Mall
   
(11) Loan No. 1 – Sunset North – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing at the Mortgaged Property.

Loan No. 3 – Osborn Triangle - The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to investment grade rent steps and market rent adjustments at the Mortgaged Property.

Loan No. 5 – Rivertowne Commons – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to Target signing a new 15 year lease to anchor the Mortgaged Property commencing in October 2019, expiring in September 2034 and accounting for $757,704 of underwritten base rent inclusive of rent steps. The borrower bought K-Mart out of its space for $2.0 million in order to replace it with Target, which is now occupying 84,640 sq. ft.

Loan No. 6 – 900 & 990 Stewart Avenue - The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing and investment grade rent steps at the Mortgaged Property.

Loan No. 7 – City Hyde Park – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing and contractual rent steps at the Mortgaged Property.

Loan No. 8 – 9533 Brighton Way - The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing at the Mortgaged Property.
   
  Loan No. 12 – 3 Columbus Circle – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing and contractual rent steps at the Mortgaged Property.

Loan No. 15 – Northpoint Tower – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily from (i) GSA ($909,100 of base rent), which has signed a lease for 45,455 sq. ft. that is expected to commence in November 2019 and (ii) Rent steps of $404,309.

Loan No. 18 – 951 Madison Street – The increase from Most Recent NOI ($) to Underwritten NOI ($) is attributable to an increase in occupancy since the Mortgaged Property opened in 2018 and was still in lease up.

Loan No. 21 – Delta Hotels Chesapeake Norfolk – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent increase in occupancy at the Mortgaged Property.

Loan No. 23 – Gramercy Tavern – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing and contractual rent steps at the Mortgaged Property.

Loan No. 29 – Hotel Indigo Birmingham – The increase from Most Recent NOI ($) to Underwritten NOI ($)is primarily attributable to recent renovations at the Mortgaged Property.

Loan No. 36 – Double Door – The increase from Most Recent NOI ($) to Underwritten NOI ($) is attributable to an increase in occupancy because the Mortgaged Property did not begin leasing until late 2018, and the Mortgaged Property is currently 100% leased.

Loan No. 40 – 738 East 6th Street – The increase from Most Recent NOI ($) to Underwritten NOI ($) is primarily attributable to recent leasing and contractual rent steps at the Mortgaged Property.
   
(12) The grace periods noted under “Grace Period” reflect the number of days of grace before a payment default is an event of default. Certain jurisdictions impose a statutorily longer grace period. Certain of the Mortgage Loans may additionally be subject to grace periods with respect to the occurrence of an event of default (other than a payment default) and/or commencement of late charges which are not addressed in Annex A-1 to this Preliminary Prospectus.

 

 

   
  Loan No. 14 — Woodlands Mall - A grace period of one business day for monthly debt service is permitted once in every 12-month period.
   
(13) In certain cases, in addition to an “as-is” value, the appraisal states an “as complete”, “as-stabilized” or “hypothetical” value for the related Mortgaged Property that assumes that certain events will occur with respect to retenanting, construction, renovation or repairs at such Mortgaged Property. The Appraised Value set forth on Annex A-1 is the “as-is” value unless otherwise specified in this Preliminary Prospectus. With respect to the Mortgaged Properties that secure the Mortgage Loans listed in the following table, the respective Cut-off Date LTV Ratio was calculated using the related “as complete”, “as-stabilized” or “hypothetical” Appraised Values, as opposed to the “as-is” Appraised Values, each as set forth in the following table:
                 
  Mortgage Loan % of Initial Pool
Balance
Mortgage Loan
Cut-off Date
LTV Ratio
(Other Than
“As-Is”)
Mortgage Loan
LTV Ratio

at Maturity
(Other Than
“As-Is”)
 
Appraised Value
(Other Than
“As- Is”)
Mortgage Loan
Cut-off Date
LTV Ratio
(“As-Is”)
Mortgage Loan
LTV Ratio
at Maturity
(“As-Is”)
Appraised
Value
(“As-Is”)
  900 & 990 Stewart Avenue(1) 4.70% 69.20% 69.20% $121,400,000 82.40% 82.40% $101,900,000
  Concord Center(2) 1.50% 63.80% 54.70% $22,000,000 66.80% 66.80% $21,000,000
  Hotel Indigo Birmingham(3) 1.10% 69.90% 55.70% $15,300,000 71.30% 56.80% $15,000,000
  Courtyard Warner Robins(4) 1.10% 57.20% 46.80% $18,300,000 60.20% 49.30% $17,400,000
  Holiday InnExpress and Suites Los Alamos(5) 0.80% 66.40% 52.90% 11,500,000 84.90% 67.60% $9,000,000
  Double Door(6) 0.80% 62.00% 62.00% 12,100,000 66.20% 66.20% $11,330,000
   
  (1)     The Appraised Value (Other Than As-Is) reflects the “As Complete” appraised values of the two individual parcels comprising the Mortgaged Property, as of May 2, 2019, in the aggregate amount of $121,400,000. The Hypothetical Value With PILOT Extended and Assuming Reserve appraised value assumes that (i) the borrower deposited $8.0 million into a reserve for future tenant improvements, leasing commissions and capital expenditures, which were reserved at origination and (ii) the related PILOT program is extended beyond its current expiration date.
  (2)     The Appraised Value (Other Than As-Is) reflects the “As Complete” of $22,000,000 for the Mortgaged Property, as of June 11, 2019, which assumes that the renovations estimated to cost approximately $1,000,000 in capital expenditures are completed under the “as is” date of value, June 11, 2019. The “as-is” appraised value of the Mortgaged Property, as of June 11, 2019 is $21,000,000.
  (3)     The Appraised Value (Other Than As-Is) reflects the “As Complete” value of $15,300,000 for the Mortgaged Property, as of September 3, 2019, which assumes that the borrower will exercise the purchase option contained in section 4 of the basement parking lease agreement. Further, it assumes that the purchase price will be a prorated amount of $320,000 and that the transaction will close on September 3, 2019. The “as-is” appraised value of the Mortgaged Property, as of July 29, 2019 is $15,000,000. At origination, the borrower deposited with the lender $320,000, which funds may be released to the borrower for purposes of exercising such purchase option or, alternatively, to enter into a substitute parking agreement.
  (4)     The Appraised Value (Other Than As-Is) reflects the “As Complete” of $18,300,000 for the Mortgaged Property, as of May 6, 2019, which assumes that the PIP has been completed as of the date of inspection. At origination, the lender reserved $917,374 for the PIP. The “as-is” appraised value of the Mortgaged Property, as of May 6, 2019 is $17,400,000.
  (5)     The Appraised Value (Other than As-Is) represents the “as complete” value of $11,500,000, effective July 2, 2020, which assumes that the capital improvements will be completed in a competent and timely manner for the Mortgaged Property. At origination, the lender reserved $2,239,473 for the estimated outstanding costs related to a PIP reserve
  (6)     The Appraised Value (Other than As-Is) represents the “as stabilized” value of $12,100,000, effective October 25, 2019, which assumes that Yeti takes occupancy.

 

(14)
Loan No. 9 – Wind Creek Leased Fee – The Net Rentable Area (SF/Units/Rooms) shown is based on the total square footage of the land.

Loan No. 9 – Wind Creek Leased Fee – The Cut-off Date LTV and LTV Ratio at Maturity or ARD are based on the “as is” appraised value of the leased fee interest. The “as is” appraised value, inclusive of the Wind Creek Casino and Resort Bethlehem improvements is $1.14 billion, which results in a Cut-off Date LTV Ratio of 12.9%.
   
(15) Prepayment Provisions are shown from the respective Mortgage Loan First Payment Date.

“L(x)” means lock-out for x payments.

“D(x)” means may be defeased for x payments.

“YM(x)” means may be prepaid for x payments with payment of a yield maintenance charge.

“YM1(x)” means may be prepaid for x payments with payment of the greater of a yield maintenance charge and 1% of the amount prepaid.
 “DorYM1(x)” means may be prepaid for x payments with either defeasance or a yield maintenance charge or 1% of the amount prepaid.

“O(x)” means freely prepayable for x payments, including the maturity date.

Certain of the Mortgage Loans permit the release of a portion of a Mortgaged Property (or an individual Mortgaged Property, in connection with a portfolio Mortgage Loan) under various circumstances, as described in this Preliminary Prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in this Preliminary Prospectus. In addition, certain of the Mortgage Loans permit the borrower to prepay a portion of the Mortgage Loan to avoid or cure a cash sweep period due to a low debt yield or debt service coverage ratio trigger. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Voluntary Prepayments” in this Preliminary Prospectus
   
(16) Loan No. 1 – Sunset North – The lockout period will be at least 24 payment dates beginning with and including the first payment date of November 1, 2019. Defeasance of the full $150,000,000 Sunset North Whole Loan is permitted after the date that is the earlier to occur of (i) November 1, 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 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 4 – Grand Canal Shoppes – The lockout period will be at least 27 payment dates beginning with and incwluding the first payment date of August 1, 2019. Defeasance of the full $975,000,000 Grand Canal Shoppes Whole Loan is permitted after the date that is the earlier to occur of (i) June 3, 2022 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 27 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 5 – Rivertowne Commons – The lockout period will be at least 24 payments beginning with and including the first payment date of November 6, 2019. The borrower has the option to defease the full $66,000,000 Rivertowne Commons Whole Loan after the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) September 9, 2023. The assumed lockout period of 24 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 7 – City Hyde Park – The lockout period will be at least 24 payment dates beginning with and including the first payment date of November 1, 2019. Defeasance of the full $112,000,000 City Hyde Park Whole Loan is permitted after the date that is the earlier to occur of (i) November 1, 2023 and (ii) 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 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.
Loan No. 9 – Wind Creek Leased Fee – The lockout period will be at least 26 payment dates beginning with and including the first payment date of September 6, 2019. Defeasance of the full $146.6 million Wind Creek Leased Fee Whole Loan is permitted after the date that is the earlier to occur of (i) July 23, 2022 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 26 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 10 – 30 Hudson Yards– The lockout period will be at least 27 payments beginning with and including the first payment date of August 6, 2019. The borrower has the option to defease the full $1.43 billion 30 Hudson Yards 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) June 14, 2022. The assumed lockout period of 27 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

 

 

   
  Loan No. 11 – Beverly Hills BMW– The lockout period will be at least 25 payments beginning with and including the first payment date of October 6, 2019. The borrower has the option to defease the full $59.5 million Beverly Hills BMW Whole Loan after the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) August 14, 2022. The assumed lockout period of 25 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 12 – 3 Columbus Circle – The lockout period will be at least 31 payment dates beginning with and including the first payment date of April 11, 2019. Defeasance of the full $595.0 million 3 Columbus Circle Whole Loan is permitted after the date that is the earlier to occur of (i) April 11, 2022 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 31 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 14 – Woodlands Mall – The lockout period will be at least 26 payments beginning with and including the first payment date of September 1, 2019. The borrower has the option to defease the full $425.0 million Woodlands Mall Whole Loan after the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) July 5, 2022. The assumed lockout period of 26 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.

Loan No. 15 – Northpoint Tower – The lockout period will be at least 25 payments beginning with and including the first payment date of October 6, 2019. The borrower has the option to defease the full $90,500,000 Northpoint Tower 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) August 9, 2022. The assumed lockout period of 25 payments is based on the expected Benchmark 2019-B13 securitization closing date in October 2019. The actual lockout period may be longer.
   
(17) Partial release in connection with a partial prepayment or partial defeasance or substitution or a free release is permitted for the following loans. See “Description of the Mortgage Pool – Certain Terms of the Mortgage Loans – Partial Releases” in this Preliminary Prospectus for the terms of the releases.
● Loan No. 3 – Osborn Triangle
● Loan No. 4 – Grand Canal Shoppes
● Loan No. 7 – City Hyde Park
● Loan No. 14 – Woodlands Mall
● Loan No. 18 – 951 Madison Street
● Loan No. 20 – Philadelphia Metro Storage Portfolio
● Loan No. 39 – JJL Retail Portfolio
   
(18) Loan No. 3 – Osborn Triangle – The entire Mortgaged Property is subject to a condominium regime, with each individual Mortgaged Property being owned by an affiliate of the Massachusetts Institute of Technology. The fee owner of the units master leases each unit to the individual borrower, and the Mortgaged Property is secured by such leasehold interests. Pursuant to each master lease, the fee owner of the units has delegated the rights to exercise its rights and privileges in its capacity as the fee owner of the units under the condominium declaration to each borrower, and the individual borrowers control 100% of the condominium interests.

Loan No. 23 – Gramercy Tavern – The Mortgage Loan is subject to an operating lease between the borrower, as the lessor, and an affiliate of the borrower, as the lessee (“Lessee”), pursuant to which Lessee operates the Mortgaged Property.

Loan No. 24 – Hampton Inn & Suites Knoxville – The Mortgage Loan is subject to an operating lease between the two borrowers as lessor (“Lessor”) and lessee (“Lessee”), respectively. Lessor holds title to the Mortgaged Property, and Lessee serves as the franchisee under the related franchise agreement and operates the Mortgaged Property.
   
(19) Loan No. 12 – 3 Columbus Circle – The 5th Largest Tenant, Josephson, is an affiliate of the borrower and the Mortgaged Property serves as the borrower’s headquarters.

Loan No. 23 – Gramercy Tavern – The sole tenant, Gramercy Tavern, is an affiliate of the borrower.
   
(20) Loan No. 12 – 3 Columbus Circle – The Largest Tenant, Young & Rubicam, Inc. leases (i) 214,372 sq. ft. for $76.00 PSF with an expiration date of July 2033, (ii) 124,760 sq. ft. for $68.60 PSF with an expiration date of August 2033, (iii) 34,634 sq. ft. for $62.00 PSF with an expiration date of August 2033 and (iv) 1,300 sq. ft. for $32.50 PSF with an expiration date in August 2033. In addition, the 3rd Largest Tenant, Nordstrom, leases (i) 43,018 sq. ft. for $241.25 PSF and (ii) 3,973 sq. ft. for $725.00 PSF.
   
(21) The lease expiration dates shown are based on full lease terms. However, in certain cases, a tenant may have the option to terminate its lease or abate rent prior to the stated lease expiration date for no reason after a specified period of time and/or upon notice to the landlord or upon the occurrence of certain contingencies including, without limitation, if the landlord violates the lease or fails to provide utilities or certain essential services for a specified period or allows certain restricted uses, upon interference with such tenant’s use of access or parking, upon casualty or condemnation, for zoning violations, if certain anchor or key tenants (including at an adjacent property) or a certain number of tenants go dark or cease operations, if a certain percentage of the net rentable area at the Mortgaged Property is not occupied, if the tenant fails to meet sales targets or business objectives, or, in the case of a government tenant, for lack of appropriations or other reasons. In addition, in some instances, a tenant may have the right to assign its lease and be released from its obligations under the subject lease. Furthermore, some tenants may have the option to downsize their rented space without terminating the lease completely.

Loan No. 1 – Sunset North – The 4th Largest Tenant, Farmers, includes (i) 60,166 sq. ft. leased to Farmers New World with the right to terminate its lease on or after June 30, 2026 with no less than 12 months’ prior written notice and payment of a termination fee and (ii) 1,161 sq. ft. leased to Farmers Credit Union with the right to terminate its lease on or after August 31, 2026 with no less than 12 months’ prior written notice and the payment of a termination fee.

Loan No. 5 – Rivertowne Commons – The 2nd Largest Tenant, Safeway has four, five-year renewal options remaining under its lease. The renewal options are deemed exercised unless Safeway gives the landlord written notice at least 6 months prior to the expiration of the then-current term, whereupon all future renewal options are also terminated. Safeway is also able to terminate its lease by giving the landlord 9 months’ written notice under the then-current term of its lease.

Loan No. 8 – 9533 Brighton Way – The 3rd Largest Tenant, Berluti, has the right to terminate if gross sales during each of 2021 and 2022 does not exceed $2,700,000 for each year, by giving notice within 90 days  after December 31, 2022. The 5th Largest tenant, Boglioli, has the right to terminate its lease as of April 30, 2022, with 12 months’ notice and the payment of a termination fee of $300,000.
   
  Loan No. 14 – Woodlands Mall - The Largest Tenant, Forever 21, has the right to terminate its lease effective at any time upon 180 days’ notice and payment of a termination fee equal to twelve months of minimum annual rent.

Loan No. 15 – Northpoint Tower – The 2nd Largest Tenant, GSA, has 45,455 sq. ft. expiring October 31, 2029, 31,409 sq. ft. expiring May 31, 2020 and 2,287 sq. ft. expiring October 31, 2028. GSA is permitted to terminate (a) the 45,455 sq. ft. expiring on October 31, 2029 at any time after October 31, 2024 with 90 days’ notice, (b) the 31,409 sq. ft. expiring May 31, 2020 at any time with 120 days’ notice and (c) the 2,287 sq. ft. expiring October 31, 2028 any time after October 31, 2023 with 90 days’ notice.

Loan No. 28.03 – Tradecor Retail Portfolio – Bullard Ave & McDowell Rd – The Largest Tenant P.F. Chang’s, has the right to terminate its lease at any time after October 31, 2019, with 90 days’ notice; effective at 6 month intervals.

Loan No. 32 – Two Guys Commons – The 4th Largest Tenant, Crunch Fitness, has the option to terminate during either renewal term with six months’ notice and payment of six months’ rent.

 

 

   
(22) The following major tenants (listed on Annex A-1) are currently subleasing all or a significant portion of its leased space:

Loan No. 3 – Osborn Triangle – The Largest Tenant at each of the 610 Main Street North and 1 Portland Street Mortgaged Properties, Pfizer, which represents 73.8% of the total net rentable area at the Osborn Triangle Mortgaged Properties, subleases a total of 163,644 sq. ft. at the 610 Main Street North Mortgaged Property, representing 24.2% of the total net rentable area at the Osborn Triangle Mortgaged Properties, as follows: (i) CRISPR Therapeutics (9.7% of total net rentable aera), expiring on January 31, 2027, (ii) Lab Central (4.9% of total net rentable area), expiring on December 14, 2027, (iii) Casebia Therapeutics (4.8% of total net rentable area), expiring on March 31, 2024, and (iv) KSQ Therapeutics (4.8% of total net rentable area), expiring on February 28, 2022. In addition, CRISPR Therapeutics subleases 5,184 sq. ft. of its subleased space to Bayer’s Life Hub Boston, whose sub-sublease expires on March 31, 2024.
   
  Tenants under certain leases included in the Underwritten Net Cash Flow, Underwritten NOI and/or Occupancy may not be in physical occupancy, may not have begun paying rent or may be in negotiation. With respect to the largest 15 Mortgage Loans and certain tenants representing more than 25% of the net rentable area of a Mortgaged Property, see “Description of the Mortgage Pool—Tenant Issues—Other” in this Preliminary Prospectus.

The tenants shown in the Annex A-1 have signed leases but may or may not be open for business as of the Cut-off Date of the securitization.

Loan No. 15 – Northpoint Tower – The 2nd Largest Tenant, GSA, representing approximately 9.1% of the net rentable area at the Mortgaged Property, is not yet in occupancy of 45,455 sq. ft. of its space, which is currently being built out. GSA is expected to take occupancy of 57.43% of its total leased space beginning around December 2019. The GSA lease for such space commences on November 1, 2019.

Loan No. 28 – Tradecor Retail Portfolio – The Pebble Creek Parkway & McDowell Road property is still under development with Valvoline LLC set to take occupancy on March 4, 2020.

Loan No. 36 – Double Door – The sole retail tenant at the Mortgaged Property, Yeti began paying rent on February 1, 2019, but is not yet in occupancy of its space. Yeti is expected to take occupancy of its space in October, 2019.
   
(23) The following Mortgage Loans have one or more borrowers that own all or a portion of the related Mortgaged Property as tenants-in-common. See “Description of the Mortgage Pool – Mortgage Pool Characteristics – Tenancies-in-Common” in this Preliminary Prospectus for further information.

● Loan No. 8 – 9533 Brighton Way
● Loan No. 12 – 3 Columbus Circle
● Loan No. 18 – 951 Madison Street
   
(24) All upfront reserve balances reflect the upfront reserve amount at loan origination. The current balance may be less than the amount shown.
   
(25) (33) All ongoing reserve balances reflect the ongoing reserve amount at loan origination. The current balance may be greater than or less than the amount shown. Monthly reserves required to be deposited in such accounts may be capped pursuant to the related Mortgage Loan documents.

Loan No. 9 – Wind Creek Leased Fee - On a monthly basis, immediately following the date on which a quarterly installment of base rent is paid under the ground lease (other than the first installment of rent due on July 30, 2019 under the ground lease documents), the borrower is required to deposit an amount equal to the monthly debt service payment amount due on each of the next two succeeding monthly payment dates, which amounts are required to be transferred into the interest reserve account.

Loan No. 10 – 30 Hudson Yards - Provided no event of default is continuing, the lender will be required to disburse capital expenditure funds to the borrower out of the capital expenditure account, within 10 days after the delivery by the borrower to the lender of a request therefor (but not more often than once per month), in increments of at least $5,000 (or a lesser amount if the total amount in the capital expenditure account is less than $5,000, in which case only one disbursement of the amount remaining in the account may be made).
   
(26) Loan No. 19 – Canyon Corporate Center – At such time as the amount on deposit for replacement is less than $150,000, the borrower is required to make monthly deposits of $2,204.13 into the Monthly Replacement Reserves ($) until the cap of $150,000 is met.

Loan No. 19 – Canyon Corporate Center – At such time as the amount on deposit for rollover is less than $675,000, the borrower is required to make monthly deposits of $11,020.67 into the Monthly TI/LC Reserves ($) until the cap of $675,000 is met.

Loan No. 25 – SpringHill Suites Ashburn-Dulles North – Commencing on the earlier of (x) September 1, 2024 or (y) the occurrence of a cash sweep period, the borrower is required to make monthly deposits into the Monthly Replacement Reserves ($) 4% of the gross income from the operations of the Mortgaged Property for the calendar month two months prior to such payment.

Loan No. 31 – Courtyard Warner Robins – Commencing on the payment date that is 25 months prior to the maturity date of the Mortgage Loan (the “Additional FF&E Payment Date”) and on each payment date thereafter, the borrower is required to make monthly deposits into the Monthly Replacement Reserves ($) the amount of $42,400.00 (the “Additional FF&E Monthly Deposit”); provided, however, that if the borrower has not failed any condition related quality assurance evaluations (based on any scale being used by the related franchisor), brand standard audits or hotel audits during the six-month period immediately prior to the Additional FF&E Payment Date, then the Additional FF&E Monthly Deposit will mean an amount equal to the following: (A) (1) $1,060,000.00, less (2) the amount on deposit in the Monthly Replacement Reserves ($) for FF&E reserve fund as of the payment date that is 26 months prior to the maturity date of the Mortgage Loan, excluding an amount equal to the amount necessary to pay any outstanding invoices, divided by (B) 25.
   
(27) Loan No. 38 – 2975 Breckinridge Boulevard – The monthly replacement reserve deposit amount is equal to $7,244.69, however, upon satisfaction of the roof replacement conditions, such an amount will be reduced to $1,173.22. The Replacement Reserve cap is $347,745, however, upon satisfaction of the roof replacement condition, such an amount will be reduced to $42,235.92.
   
(28) With respect to the Mortgage Loans identified below, the lender is insured under an environmental insurance policy obtained (i) in lieu of obtaining a Phase II Environmental Site Assessment, (ii) in lieu of providing an indemnity or guaranty from a sponsor or (iii) to address environmental conditions or concerns. For additional information, see “Risk Factors—Risks Related to the Mortgage Loans—Adverse Environmental Conditions at or Near Mortgaged Properties May Result in Losses” and “Description of the Mortgage Pool – Mortgage Pool Characteristics – Environmental Considerations” in this Preliminary Prospectus.

               
  Loan No. Mortgage Loan

Mortgage Loan
Cut-off Date

Balance

 

% of Initial
Outstanding
Pool Balance
Maximum Policy Amount Premium Paid in Full Expiration Date
  3 Osborn Triangle $50,000,000 5.30% $5,000,000 Yes 5/16/2032
  9 Wind Creek Leased Fee(1) $41,521,017 4.40% $10,000,000 Yes 5/31/2029
  27 Scottsdale Crossing $11,300,000 1.20% $1,000,000 Yes 8/9/2032
  39 2975 Breckinridge Boulevard $4,887,436 0.50% $2,000,000 Yes 7/30/2027

 

  (1)     The policy was purchased at the borrower’s election and was not required by the lender.  The policy is cancellable at the borrower’s option.
   
(29) Loans with Phase Iis
  Loan No. 5 – Rivertowne Commons
  Loan No. 20.02 – Philadelphia Metro Storage Portfolio – Metro Self Storage – Philadelphia
  Loan No. 27 – Scottsdale Crossing

 

 

   
(30) Loan No. 3 – Osborn Triangle – There is not a separate non-recourse carveout guarantor, and the borrowers are the only indemnitors under the related environmental indemnity agreement. At origination of the Mortgage Loan, the borrowers obtained an environmental insurance policy issued by the Sirius Group in the name of the borrowers, with the lender as additional named insured with its successors, assigns and/or affiliates, with per incident and aggregate limits of $5,000,000, a deductible of $25,000 per incident and a term expiring on May 16, 2032.

Loan No. 38 – 2975 Breckinridge Boulevard – The borrower is the only indemnitor under the related environmental indemnity agreement. At origination of the Mortgage Loan, the borrower obtained an environmental insurance policy issued by the Sirus Group with the lender with its successors and/or assigns as the named insured, with per incident and aggregate limits of $2,000,000, a deductible of $25,000 per incident and a term expiring on July 30, 2037.

 

(31) Loan No. Mortgage Loan Senior Notes
Cut-off
Date Balance
Subordinate
Notes

Cut-off
Date Balance
Total
Mortgage Debt

Cut-off
Date Balance(1)
Total
Senior Notes
U/W NCF
DSCR
Total
Mortgage Debt
U/W NCF
DSCR(1)
Total
Senior Notes Cut-off
Date LTV

Total

Mortgage Debt Cut-off Date
LTV Ratio(1)

Total
Senior
Notes U/W
NOI Debt
Yield
Total
Mortgage
Debt U/W
NOI Debt
Yield(1)
  3 Osborn Triangle $430,000,000 $145,000,000 $575,000,000 3.12x 2.33x 37.1% 49.7% 12.5% 9.3%
  4 Grand Canal Shoppes $760,000,000 $215,000,000 $975,000,000 2.46x 1.67x 46.3% 59.5% 9.6% 7.5%
  10 30 Hudson Yards $1,120,000,000 $310,000,000 $1,430,000,000 3.45x 2.51x 50.9% 65.0% 10.9% 8.5%
  12 3 Columbus Circle $490,000,000 $105,000,000 $595,000,000 2.91x 2.40x 45.4% 55.1% 12.3% 10.2%
  14 Woodlands Mall $247,600,000 $177,400,000 $425,000,000 3.95x 2.30x 26.0% 44.6% 17.4% 10.1%

 

(32)  Loan No. Mortgage Loan Mortgage
Loan
Cut-off

Date Balance
% of Initial Outstanding
Pool Balance
Mezzanine Debt
Cut-off Date
Balance
Annual Interest Rate on
Mezzanine Loan
Mezzanine Loan Maturity Date or ARD Intercreditor Agreement Total Debt
Cut-off
Date LTV

Ratio(1)
Total Debt
U/W NCF
DSCR(1)
Total
Cut-off Debt
U/W NOI Debt Yield(1)
  14 Woodlands Mall Springhill Suites $30,000,000 3.2% $39,503,446 5.5% 8/1/2029 Yes 48.7% 1.79x 9.3%
  25 Ashburn-Dulles North $13,480,000 1.4% $3,000,000 9.3% 10/1/2029 Yes 80.0% 1.66x 11.4%
  26 Fern Marketplace $12,500,000 1.3% $3,000,000 8.3% 9/1/2024 Yes 67.0% 1.27x 7.5%

 

(33) Loan No. Mortgage Loan Mortgage
Loan
Cut-off
Date Balance
% of Initial
Outstanding
Pool Balance
Intercreditor
Agreement
Required
Combined
Minimum DSCR
Combined
Maximum LT V
Combined
Minimum Debt
Yield
  14 Woodlands Mall(1) $30,000,000 3.20% Yes 1.25x 52.00% 8.60%
  23 Gramercy Tavern 14,000,000 1.50% Yes 1.65x 57.00% N/A

 

  (1)     The borrower has a one-time right to cause to incur additional indebtedness in the form of a mezzanine loan, that will be in no event greater than $35,000,000.