FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226850-01 | ||
BBCMS 2018-C2 Disclaimer
STATEMENT REGARDING THIS FREE WRITING PROSPECTUS The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-226850) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-888-603-5847 (8 a.m. – 5 p.m. EST).
Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION 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 Barclays Capital Inc., Cantor Fitzgerald & Co., KeyBanc Capital Markets Inc. and Drexel Hamilton, LLC, or any of their respective affiliates, make 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. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.
This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement.
IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES The information herein is preliminary and may be supplemented or amended prior to the time of sale.
In addition, 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.
The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.
The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS Any legends, disclaimers or other notices that may appear at the bottom of any 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) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
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ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Street Address | City | State | Zip Code | Property Type(2) | Property Sub-type | Year Built |
Year Renovated |
Units(3) | Unit of Measure | Occupancy %(3)(4) | Occupancy Date | Appraised Value ($)(5) |
Appraisal Date | Crossed Loan | Original Balance ($)(6)(7) |
Current Balance ($)(6)(7) |
1 | KeyBank | 1 | Dream Inn | 175 West Cliff Drive | Santa Cruz | CA | 95060 | Hotel | Full Service | 1962, 1972, 2009 | 2017 | 165 | Rooms | 83.3% | 09/30/2018 | 100,000,000 | 10/02/2018 | No | 55,000,000 | 55,000,000 |
2 | Barclays | 1 | Christiana Mall | 132 Christiana Mall | Newark | DE | 19702 | Retail | Super Regional Mall | 1978 | 2015 | 779,084 | Square Feet | 98.3% | 05/31/2018 | 1,040,000,000 | 06/05/2018 | No | 54,840,000 | 54,840,000 |
3 | KeyBank | 7 | GNL Portfolio | Various | Various | Various | Various | Various | Various | Various | Various | 647,713 | Square Feet | 100.0% | 11/09/2018 | 172,290,000 | 10/01/2018 | No | 54,175,000 | 54,175,000 |
3.01 | KeyBank | 1 | Nimble Storage | 211, 251 and 281 River Oaks Parkway | San Jose | CA | 95134 | Office | Suburban | 1979-1982 | 2013 | 164,608 | Square Feet | 100.0% | 11/09/2018 | 67,000,000 | 09/26/2018 | 21,325,607 | 21,325,607 | |
3.02 | KeyBank | 1 | NetScout Systems | 915 Guardian Way | Allen | TX | 75013 | Office | Suburban | 2018 | 144,779 | Square Feet | 100.0% | 11/09/2018 | 56,380,000 | 10/03/2018 | 17,945,340 | 17,945,340 | ||
3.03 | KeyBank | 1 | Mallinckrodt | 381 and 385 Marshall Avenue | St. Louis | MO | 63119 | Office | R&D Lab | 1980, 2008 | 2017 | 89,900 | Square Feet | 100.0% | 11/09/2018 | 18,900,000 | 10/01/2018 | 6,015,731 | 6,015,731 | |
3.04 | KeyBank | 1 | PPD Global Labs | 2 Tesseneer Drive | Highland Heights | KY | 41076 | Office | R&D Lab | 1983 | 2015 | 73,220 | Square Feet | 100.0% | 11/09/2018 | 10,400,000 | 10/04/2018 | 3,310,244 | 3,310,244 | |
3.05 | KeyBank | 1 | PNC Bank | 901 State Street | Erie | PA | 16501 | Office | CBD | 1909, 1968 | 2000 | 97,203 | Square Feet | 100.0% | 11/09/2018 | 7,800,000 | 10/03/2018 | 2,482,682 | 2,482,682 | |
3.06 | KeyBank | 1 | FedEx Ground | 6401 18th Avenue North | Great Falls | MT | 59405 | Industrial | Warehouse/Distribution | 2017 | 58,148 | Square Feet | 100.0% | 11/09/2018 | 6,125,000 | 10/04/2018 | 1,949,543 | 1,949,543 | ||
3.07 | KeyBank | 1 | Weatherford International | 13400 West Highway 80 East | Odessa | TX | 79765 | Industrial | Warehouse | 1950 | 2010 | 19,855 | Square Feet | 100.0% | 11/09/2018 | 3,600,000 | 10/05/2018 | 1,145,854 | 1,145,854 | |
4 | Barclays/CCRE | 2 | Liberty Portfolio | Various | Various | AZ | Various | Office | Suburban | Various | 805,746 | Square Feet | 100.0% | 05/31/2018 | 256,700,000 | Various | No | 50,000,000 | 50,000,000 | |
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | 1850, 1870, 1910 and 1930 West Rio Salado Parkway | Tempe | AZ | 85281 | Office | Suburban | 2014, 2016, 2017 | 682,406 | Square Feet | 100.0% | 05/31/2018 | 212,910,000 | 08/22/2018 | 42,467,603 | 42,467,603 | ||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | 8501 East Raintree Drive | Scottsdale | AZ | 85260 | Office | Suburban | 2006 | 123,340 | Square Feet | 100.0% | 05/31/2018 | 43,790,000 | 08/24/2018 | 7,532,397 | 7,532,397 | ||
5 | SMC | 3 | Fidelis Portfolio | Various | Various | TX | Various | Retail | Anchored | Various | 885,707 | Square Feet | 96.5% | 10/01/2018 | 147,700,000 | Various | No | 49,300,000 | 49,188,389 | |
5.01 | SMC | 1 | Victory Lakes Town Center | 2520 Gulf Freeway South | League City | TX | 77573 | Retail | Anchored | 2006 | 370,367 | Square Feet | 99.4% | 10/01/2018 | 56,600,000 | 08/17/2018 | 19,395,864 | 19,351,954 | ||
5.02 | SMC | 1 | McKinney Towne Crossing | 8800 State Highway 121 | McKinney | TX | 75070 | Retail | Anchored | 2006 | 242,805 | Square Feet | 94.0% | 10/01/2018 | 55,100,000 | 08/17/2018 | 18,663,945 | 18,621,691 | ||
5.03 | SMC | 1 | Riverstone Shopping Center | 5730 Highway 6 | Missouri City | TX | 77459 | Retail | Anchored | 2005, 2006 | 272,535 | Square Feet | 94.7% | 10/01/2018 | 36,000,000 | 08/20/2018 | 11,240,191 | 11,214,744 | ||
6 | SMC | 1 | Troy Place | 3001, 3155, 3221 and 3331 West Big Beaver Road and 2855 Coolidge Highway | Troy | MI | 48084 | Office | Suburban | 1973-1978 | 756,845 | Square Feet | 73.2% | 11/01/2018 | 75,500,000 | 09/26/2018 | No | 40,000,000 | 40,000,000 | |
7 | SMC | 1 | West Covina Village | 301-477 North Azusa Avenue | West Covina | CA | 91791 | Mixed Use | Retail/Office | 1981 | 2017 | 220,000 | Square Feet | 89.3% | 11/05/2018 | 61,600,000 | 10/08/2018 | No | 36,000,000 | 36,000,000 |
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 600 Commerce Street | Fort Worth | TX | 76102 | Hotel | Full Service | 2007 | 2018 | 156 | Rooms | 82.4% | 08/31/2018 | 54,500,000 | 10/01/2018 | No | 35,200,000 | 35,200,000 |
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | 5665 East Mayo Boulevard | Phoenix | AZ | 85054 | Hotel | Extended Stay | 2009 | 2017 | 208 | Rooms | 73.0% | 09/30/2018 | 52,100,000 | 09/18/2018 | No | 31,000,000 | 31,000,000 |
10 | Barclays | 1 | Home Depot Technology Center | 2161-2250 Newmarket Parkway Southeast | Marietta | GA | 30067 | Office | Suburban | 1984-1986 | 2017 | 347,498 | Square Feet | 100.0% | 10/14/2018 | 66,600,000 | 08/31/2018 | No | 30,000,000 | 30,000,000 |
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | Various | Virginia Beach | VA | 23451 | Hotel | Full Service | Various | Various | 456 | Rooms | 76.0% | 05/31/2018 | 130,400,000 | Various | No | 30,000,000 | 30,000,000 |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | 3001 Atlantic Avenue | Virginia Beach | VA | 23451 | Hotel | Full Service | 2005 | 2018 | 289 | Rooms | 75.7% | 05/31/2018 | 84,800,000 | 07/23/2018 | 19,509,202 | 19,509,202 | |
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | 3315 Atlantic Avenue | Virginia Beach | VA | 23451 | Hotel | Full Service | 2014 | 167 | Rooms | 76.6% | 05/31/2018 | 45,600,000 | 08/01/2019 | 10,490,798 | 10,490,798 | ||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 1120, 1140 and 1160 Enterprise Way | Sunnyvale | CA | 94089 | Office | CBD | 2009 | 2011-2012 | 676,598 | Square Feet | 100.0% | 09/07/2018 | 705,800,000 | 11/15/2019 | No | 25,000,000 | 25,000,000 |
13 | CCRE | 2 | Shelbourne Global Portfolio II | Various | Newark | DE | Various | Various | Various | Various | 676,538 | Square Feet | 93.2% | 11/05/2018 | 93,700,000 | 10/12/2018 | No | 25,000,000 | 25,000,000 | |
13.01 | CCRE | 1 | White Clay Office Park | 100-700 White Clay Center Drive | Newark | DE | 19711 | Mixed Use | Office/Industrial | 1983-1987 | 492,298 | Square Feet | 95.2% | 11/05/2018 | 61,200,000 | 10/12/2018 | 16,454,545 | 16,454,545 | ||
13.02 | CCRE | 1 | University Office Plaza | 256-263 Chapman Road | Newark | DE | 19702 | Office | Suburban | 1971-1983 | 184,240 | Square Feet | 87.8% | 11/05/2018 | 32,500,000 | 10/12/2018 | 8,545,455 | 8,545,455 | ||
14 | SMC | 1 | Zenith Ridge | 2200, 2400 and 2600 Ansys Drive | Canonsburg | PA | 15317 | Office | Suburban | 2014, 2015, 2016 | 486,000 | Square Feet | 100.0% | 07/11/2018 | 133,100,000 | 06/25/2018 | No | 25,000,000 | 25,000,000 | |
15 | Barclays | 1 | Dudley Farms Plaza | 222 RHL Boulevard | Charleston | WV | 25309 | Retail | Anchored | 1998 | 230,776 | Square Feet | 96.5% | 10/09/2018 | 40,960,000 | 09/24/2018 | No | 24,700,000 | 24,700,000 | |
16 | Barclays | 1 | Moffett Towers II - Building 1 | 1100 Discovery Way | Sunnyvale | CA | 94089 | Office | Suburban | 2018 | 350,633 | Square Feet | 100.0% | 07/13/2018 | 358,600,000 | 12/01/2018 | No | 22,000,000 | 22,000,000 | |
17 | SMC | 1 | Round Hill Square | 212 Elks Point Road | Zephyr Cove | NV | 89448 | Mixed Use | Retail/Office | 1967 | 1998 | 115,984 | Square Feet | 96.8% | 09/30/2018 | 30,650,000 | 07/02/2018 | No | 21,025,000 | 21,025,000 |
18 | SMC | 6 | TX-OK Portfolio | Various | Various | Various | Various | Various | Various | Various | 192,932 | Square Feet | 100.0% | Various | 29,700,000 | Various | No | 20,500,000 | 20,477,179 | |
18.01 | SMC | 1 | NOV | 2851-2951 South Council Road | Oklahoma City | OK | 73128 | Industrial | Warehouse | 2013, 2014 | 48,400 | Square Feet | 100.0% | 10/22/2018 | 8,100,000 | 09/21/2018 | 5,590,910 | 5,584,686 | ||
18.02 | SMC | 1 | Cemex | 16100 Dillard Drive | Jersey Village | TX | 77040 | Office | Suburban | 2012 | 21,405 | Square Feet | 100.0% | 10/22/2018 | 6,400,000 | 09/20/2018 | 4,417,508 | 4,412,591 | ||
18.03 | SMC | 1 | Telge Park | 16675, 16681, 17711 and 17715 Telge Road | Cypress | TX | 77429 | Industrial | Flex | 2018 | 41,200 | Square Feet | 100.0% | 11/01/2018 | 5,600,000 | 09/24/2018 | 3,865,320 | 3,861,017 | ||
18.04 | SMC | 1 | Little York Industrial | 11050 West Little York Road | Houston | TX | 77041 | Industrial | Flex | 2007 | 50,727 | Square Feet | 100.0% | 11/01/2018 | 5,500,000 | 09/24/2018 | 3,796,296 | 3,792,070 | ||
18.05 | SMC | 1 | South Houston Industrial | 1902 and 1914 South Houston Avenue | Humble | TX | 77396 | Industrial | Flex | 2018 | 19,200 | Square Feet | 100.0% | 11/01/2018 | 2,500,000 | 09/24/2018 | 1,725,589 | 1,723,668 | ||
18.06 | SMC | 1 | Logistics Park at World Houston | 5816 Hamblen Road | Humble | TX | 77396 | Industrial | Flex | 2015 | 12,000 | Square Feet | 100.0% | 10/22/2018 | 1,600,000 | 09/24/2018 | 1,104,377 | 1,103,148 | ||
19 | CCRE | 1 | The Shops at Solaris | 141 East Meadow Drive | Vail | CO | 81657 | Retail | Lifestyle Center | 2010 | 70,670 | Square Feet | 100.0% | 07/01/2018 | 150,000,000 | 08/23/2018 | No | 20,000,000 | 20,000,000 | |
20 | SMC | 1 | Centennial Gateway | 5720, 5750, 5758, 5760, 5770 and 5780 Centennial Center Boulevard | Las Vegas | NV | 89149 | Retail | Anchored | 2007 | 93,906 | Square Feet | 98.5% | 09/01/2018 | 26,000,000 | 09/07/2018 | No | 17,985,000 | 17,985,000 | |
21 | SMC | 24 | Pangea 21 | Various | Chicago | IL | Various | Multifamily | Various | Various | 2011 | 420 | Units | 93.6% | 10/29/2018 | 29,625,000 | 09/20/2018 | No | 17,755,000 | 17,755,000 |
21.01 | SMC | 1 | 808 West 76th Street | 808 West 76th Street | Chicago | IL | 60620 | Multifamily | Mid-Rise | 1925 | 2011 | 43 | Units | 97.7% | 10/29/2018 | 2,375,000 | 09/20/2018 | 1,423,397 | 1,423,397 | |
21.02 | SMC | 1 | 6000 South Prairie Avenue | 6000 South Prairie Avenue | Chicago | IL | 60637 | Multifamily | Garden | 1929 | 2011 | 24 | Units | 95.8% | 10/29/2018 | 2,050,000 | 09/20/2018 | 1,228,616 | 1,228,616 | |
21.03 | SMC | 1 | 9244 South Saginaw Avenue | 9244 South Saginaw Avenue | Chicago | IL | 60617 | Multifamily | Garden | 1930 | 2011 | 22 | Units | 77.3% | 10/29/2018 | 1,925,000 | 09/20/2018 | 1,153,700 | 1,153,700 | |
21.04 | SMC | 1 | 4853 South Prairie Avenue | 4853 South Prairie Avenue | Chicago | IL | 60615 | Multifamily | Garden | 1929 | 2011 | 18 | Units | 100.0% | 10/29/2018 | 1,775,000 | 09/20/2018 | 1,063,802 | 1,063,802 | |
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | 7348 South Dr. Martin Luther King Jr. Drive | Chicago | IL | 60619 | Multifamily | Garden | 1927 | 2011 | 20 | Units | 100.0% | 10/29/2018 | 1,625,000 | 09/20/2018 | 973,903 | 973,903 | |
21.06 | SMC | 1 | 7944 South Paulina Street | 7944 South Paulina Street | Chicago | IL | 60620 | Multifamily | Garden | 1926 | 2011 | 24 | Units | 95.8% | 10/29/2018 | 1,600,000 | 09/20/2018 | 958,920 | 958,920 | |
21.07 | SMC | 1 | 7801 South Saginaw Avenue | 7801 South Saginaw Avenue | Chicago | IL | 60649 | Multifamily | Mid-Rise | 1930 | 2011 | 18 | Units | 88.9% | 10/29/2018 | 1,325,000 | 09/20/2018 | 794,105 | 794,105 | |
21.08 | SMC | 1 | 8200 South Ingleside Avenue | 8200 South Ingleside Avenue | Chicago | IL | 60619 | Multifamily | Garden | 1927 | 2011 | 19 | Units | 100.0% | 10/29/2018 | 1,300,000 | 09/20/2018 | 779,122 | 779,122 | |
21.09 | SMC | 1 | 1514 West 77th Street | 1514 West 77th Street | Chicago | IL | 60620 | Multifamily | Garden | 1926 | 2011 | 19 | Units | 89.5% | 10/29/2018 | 1,275,000 | 09/20/2018 | 764,139 | 764,139 | |
21.10 | SMC | 1 | 8000 South Drexel Avenue | 8000 South Drexel Avenue | Chicago | IL | 60619 | Multifamily | Garden | 1927 | 2011 | 19 | Units | 100.0% | 10/29/2018 | 1,275,000 | 09/20/2018 | 764,139 | 764,139 | |
21.11 | SMC | 1 | 8001 South Marshfield Avenue | 8001 South Marshfield Avenue | Chicago | IL | 60620 | Multifamily | Garden | 1927 | 2011 | 18 | Units | 77.8% | 10/29/2018 | 1,225,000 | 09/20/2018 | 734,173 | 734,173 | |
21.12 | SMC | 1 | 1717 West 77th Street | 1717 West 77th Street | Chicago | IL | 60620 | Multifamily | Garden | 1926 | 2011 | 15 | Units | 100.0% | 10/29/2018 | 1,150,000 | 09/20/2018 | 689,224 | 689,224 | |
21.13 | SMC | 1 | 1815 West 77th Street | 1815 West 77th Street | Chicago | IL | 60620 | Multifamily | Garden | 1930 | 2011 | 16 | Units | 93.8% | 10/29/2018 | 1,100,000 | 09/20/2018 | 659,257 | 659,257 | |
21.14 | SMC | 1 | 1704 West 77th Street | 1704 West 77th Street | Chicago | IL | 60620 | Multifamily | Garden | 1927 | 2011 | 16 | Units | 93.8% | 10/29/2018 | 1,050,000 | 09/20/2018 | 629,291 | 629,291 | |
21.15 | SMC | 1 | 1738 West 77th Street | 1738 West 77th Street | Chicago | IL | 60620 | Multifamily | Garden | 1927 | 2011 | 16 | Units | 100.0% | 10/29/2018 | 1,025,000 | 09/20/2018 | 614,308 | 614,308 | |
21.16 | SMC | 1 | 8231 South Ellis Avenue | 8231 South Ellis Avenue | Chicago | IL | 60619 | Multifamily | Garden | 1953 | 2011 | 14 | Units | 85.7% | 10/29/2018 | 1,000,000 | 09/20/2018 | 599,325 | 599,325 | |
21.17 | SMC | 1 | 1735 West 79th Street | 1735 West 79th Street | Chicago | IL | 60620 | Multifamily | Garden | 1926 | 2011 | 17 | Units | 82.4% | 10/29/2018 | 950,000 | 09/20/2018 | 569,359 | 569,359 | |
21.18 | SMC | 1 | 1448 West 83rd Street | 1448 West 83rd Street | Chicago | IL | 60620 | Multifamily | Garden | 1926 | 2011 | 12 | Units | 83.3% | 10/29/2018 | 925,000 | 09/20/2018 | 554,376 | 554,376 | |
21.19 | SMC | 1 | 8155 South Maryland Avenue | 8155 South Maryland Avenue | Chicago | IL | 60619 | Multifamily | Garden | 1930 | 2011 | 15 | Units | 100.0% | 10/29/2018 | 925,000 | 09/20/2018 | 554,376 | 554,376 | |
21.20 | SMC | 1 | 8515 South Green Street | 8515 South Green Street | Chicago | IL | 60620 | Multifamily | Garden | 1952 | 2011 | 12 | Units | 100.0% | 10/29/2018 | 825,000 | 09/20/2018 | 494,443 | 494,443 | |
21.21 | SMC | 1 | 8001 South Carpenter Street | 8001 South Carpenter Street | Chicago | IL | 60620 | Multifamily | Garden | 1927 | 2011 | 10 | Units | 100.0% | 10/29/2018 | 750,000 | 09/20/2018 | 449,494 | 449,494 | |
21.22 | SMC | 1 | 7914 South Kingston Avenue | 7914 South Kingston Avenue | Chicago | IL | 60617 | Multifamily | Garden | 1928 | 2011 | 12 | Units | 83.3% | 10/29/2018 | 750,000 | 09/20/2018 | 449,494 | 449,494 | |
21.23 | SMC | 1 | 8255 South Maryland Avenue | 8255 South Maryland Avenue | Chicago | IL | 60619 | Multifamily | Garden | 1951 | 2011 | 12 | Units | 100.0% | 10/29/2018 | 750,000 | 09/20/2018 | 449,494 | 449,494 | |
21.24 | SMC | 1 | 8514 South Crandon Avenue | 8514 South Crandon Avenue | Chicago | IL | 60617 | Multifamily | Garden | 1930 | 2011 | 9 | Units | 100.0% | 10/29/2018 | 675,000 | 09/20/2018 | 404,544 | 404,544 | |
22 | Barclays | 1 | Westbay Office Park | 3010-3016 West Charleston Boulevard | Las Vegas | NV | 89102 | Office | Suburban | 1996, 1998 | 107,508 | Square Feet | 94.1% | 09/01/2018 | 20,900,000 | 09/25/2018 | No | 15,675,000 | 15,675,000 | |
23 | Barclays | 1 | One River Place | 1 River Place | Wilmington | DE | 19801 | Office | Suburban | 2004 | 157,273 | Square Feet | 100.0% | 11/01/2018 | 49,500,000 | 10/05/2018 | No | 15,000,000 | 15,000,000 | |
24 | KeyBank | 1 | Alex Park South | 210, 214 and 218-224 Alexander Street and 330-350 Monroe Avenue | Rochester | NY | 14607 | Office | Suburban | 1969, 1992, 1993, 1998, 2009, 2010 | 2010 | 348,872 | Square Feet | 93.6% | 06/27/2018 | 66,000,000 | 06/25/2018 | No | 14,900,000 | 14,900,000 |
25 | CCRE | 3 | RHW Multifamily Portfolio | Various | Various | MI | Various | Multifamily | Garden | 1985 | 273 | Units | 93.4% | 10/31/2018 | 20,590,000 | 06/25/2018 | No | 14,025,000 | 14,025,000 | |
25.01 | CCRE | 1 | Heathmoore | 41299 Heathmoore Court | Canton | MI | 48187 | Multifamily | Garden | 1985 | 110 | Units | 99.1% | 10/31/2018 | 7,990,000 | 06/25/2018 | 5,500,000 | 5,500,000 | ||
25.02 | CCRE | 1 | Roanoke | 6 Roanoke Lane | Rochester Hills | MI | 48309 | Multifamily | Garden | 1985 | 88 | Units | 87.5% | 10/31/2018 | 7,620,000 | 06/25/2018 | 5,500,000 | 5,500,000 | ||
25.03 | CCRE | 1 | Wentworth | 27010 Wentworth Drive | Roseville | MI | 48066 | Multifamily | Garden | 1985 | 75 | Units | 92.0% | 10/31/2018 | 4,980,000 | 06/25/2018 | 3,025,000 | 3,025,000 | ||
26 | Barclays | 2 | Hostess Industrial Portfolio | Various | Various | Various | Various | Industrial | Warehouse | Various | Various | 511,886 | Square Feet | 98.5% | Various | 19,400,000 | Various | No | 14,000,000 | 14,000,000 |
26.01 | Barclays | 1 | 6301 North Broadway | 6301 North Broadway | St. Louis | MO | 63147 | Industrial | Warehouse | 1954 | 2015 | 416,406 | Square Feet | 98.2% | 10/18/2018 | 13,600,000 | 10/18/2018 | 9,750,000 | 9,750,000 | |
26.02 | Barclays | 1 | 7714 Commercial Drive | 7714 Commercial Drive | Troy | IL | 62294 | Industrial | Warehouse | 2001 | 2016 | 95,480 | Square Feet | 100.0% | 11/13/2018 | 5,800,000 | 10/17/2018 | 4,250,000 | 4,250,000 | |
27 | Barclays | 1 | Knoxville Crossing | 10405 North Centerway Drive | Peoria | IL | 61615 | Retail | Anchored | 2016 | 85,189 | Square Feet | 94.6% | 08/01/2018 | 18,300,000 | 09/08/2018 | No | 13,687,500 | 13,687,500 | |
28 | Barclays | 1 | Bridgeport Center | 7632 Southwest Durham Road | Tigard | OR | 97224 | Office | Suburban | 2001 | 89,610 | Square Feet | 83.7% | 08/01/2018 | 22,600,000 | 09/04/2018 | No | 13,400,000 | 13,400,000 | |
29 | SMC | 1 | Southern Highlands Corporate Center | 11411 Southern Highlands Parkway | Las Vegas | NV | 89141 | Office | Suburban | 2004 | 68,664 | Square Feet | 94.5% | 08/30/2018 | 19,000,000 | 08/20/2018 | No | 12,250,000 | 12,250,000 | |
30 | Barclays | 1 | Fair Oaks Mall | 11750 Fair Oaks Mall | Fairfax | VA | 22033 | Retail | Super Regional Mall | 1980 | 2014 | 779,949 | Square Feet | 91.6% | 02/01/2018 | 545,600,000 | 02/03/2018 | No | 11,000,000 | 10,918,207 |
31 | Barclays | 2 | Friedman Portfolio | Various | Various | Various | Various | Retail | Various | Various | Various | 95,197 | Square Feet | 100.0% | Various | 15,800,000 | Various | No | 9,325,000 | 9,325,000 |
31.01 | Barclays | 1 | Jewel Osco | 1501 East Algonquin Road | Algonquin | IL | 60102 | Retail | Freestanding | 2006 | 61,477 | Square Feet | 100.0% | 11/07/2018 | 8,500,000 | 09/04/2018 | 5,016,614 | 5,016,614 | ||
31.02 | Barclays | 1 | Coors Bypass | 10420 Coors Bypass Northwest | Albuquerque | NM | 87114 | Retail | Anchored | 2000 | 2016 | 33,720 | Square Feet | 100.0% | 09/12/2017 | 7,300,000 | 08/31/2018 | 4,308,386 | 4,308,386 | |
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 1948-1960 Old Fort Parkway | Murfreesboro | TN | 37129 | Retail | Anchored | 1996-1999 | 2016 | 116,758 | Square Feet | 95.9% | 09/10/2018 | 12,400,000 | 06/25/2018 | No | 8,600,000 | 8,581,330 |
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 836 Upward Road | Flat Rock | NC | 28731 | Hotel | Limited Service | 2017 | 84 | Rooms | 64.8% | 09/30/2018 | 14,300,000 | 10/09/2018 | No | 8,500,000 | 8,500,000 | |
34 | SMC | 1 | Town and Country Apartments | 3111 Old Sterlington Road | Monroe | LA | 71203 | Multifamily | Garden | 1972 | 2018 | 300 | Units | 78.0% | 10/29/2018 | 15,800,000 | 09/26/2018 | No | 7,900,000 | 7,900,000 |
35 | Barclays | 1 | Hampton Inn - Kimball | 100 Hampton Drive | South Pittsburg | TN | 37380 | Hotel | Limited Service | 2013 | 80 | Rooms | 80.8% | 06/30/2018 | 10,900,000 | 06/18/2018 | No | 7,000,000 | 6,983,807 |
A-1-1
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Street Address | City | State | Zip Code | Property Type(2) | Property Sub-type | Year Built |
Year Renovated |
Units(3) | Unit of Measure | Occupancy %(3)(4) | Occupancy Date | Appraised Value ($)(5) |
Appraisal Date | Crossed Loan | Original Balance ($)(6)(7) |
Current Balance ($)(6)(7) |
36 | CCRE | 1 | College Park | 2420 and 2440 West Arrow Route | Upland | CA | 91786 | Retail | Unanchored | 2009 | 30,398 | Square Feet | 91.7% | 10/09/2018 | 12,000,000 | 09/01/2018 | No | 6,750,000 | 6,750,000 | |
37 | SMC | 1 | Storage Xxtra Stockbridge | 490 Eagles Landing Parkway | Stockbridge | GA | 30281 | Self Storage | Self Storage | 2000 | 2017 | 724 | Units | 94.5% | 10/29/2018 | 10,250,000 | 10/05/2018 | No | 6,700,000 | 6,700,000 |
38 | Barclays | 1 | Valley Forge Corporate Center | 970 Rittenhouse Road | Audubon | PA | 19403 | Industrial | Flex | 1974 | 2003 | 62,757 | Square Feet | 94.5% | 09/01/2018 | 8,300,000 | 08/16/2018 | No | 5,925,000 | 5,917,942 |
39 | Barclays | 1 | CB Square | 9333 Atlantic Boulevard | Jacksonville | FL | 32225 | Retail | Anchored | 2004 | 73,100 | Square Feet | 94.0% | 10/30/2018 | 9,500,000 | 08/02/2018 | No | 5,400,000 | 5,400,000 | |
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 3023 Unicorn Road | Bakersfield | CA | 93308 | Self Storage | Self Storage | 2005 | 257 | Units | 94.6% | 09/30/2018 | 7,700,000 | 08/17/2018 | No | 5,000,000 | 5,000,000 | |
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 20691 IH-10 | Vidor | TX | 77662 | Hotel | Limited Service | 2009 | 73 | Rooms | 73.5% | 09/30/2018 | 7,500,000 | 09/19/2018 | No | 4,000,000 | 3,994,200 | |
42 | Barclays | 1 | Best Yet Storage - Shed Road | 5630 Shed Road | Bossier City | LA | 71111 | Self Storage | Self Storage | 2015 | 372 | Units | 89.0% | 09/30/2018 | 4,500,000 | 09/29/2018 | No | 3,100,000 | 3,100,000 | |
43 | SMC | 1 | Lincoln Commonwealth Center | 122 Lincoln Boulevard | Venice | CA | 90291 | Office | Suburban | 1981 | 11,194 | Square Feet | 100.0% | 10/30/2018 | 7,100,000 | 09/27/2018 | No | 3,000,000 | 3,000,000 | |
44 | SMC | 1 | Storage Xxtra Raymond Hill | 231 Raymond Hill Road | Newnan | GA | 30265 | Self Storage | Self Storage | 2002 | 409 | Units | 87.4% | 08/31/2018 | 4,750,000 | 10/05/2018 | No | 2,500,000 | 2,500,000 |
A-1-2
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Current Balance per Unit ($) | % of Initial Pool Balance | Current LTV (%)(5) | Maturity/ARD Balance ($)(6)(7) | Maturity/ARD LTV (%)(5) | Interest Rate % |
Admin. Fee %(8) | Net Mortgage Rate % | Accrual Type | Monthly Debt Service Amount ($)(9) | Annual Debt Service Amount ($) | Note Date | First Payment Date | Partial IO Last IO Payment | Partial IO First P&I Payment | Original Term | Remaining Term | Original Amortization(10) | Remaining Amortization(10) | I/O Period | Seasoning | Amortization Type | Payment Date |
1 | KeyBank | 1 | Dream Inn | 333,333 | 6.2% | 55.0% | 55,000,000 | 55.0% | 5.05000 | 0.02214 | 5.02786 | Actual/360 | 234,673.03 | 2,816,076.36 | 11/13/2018 | 01/01/2019 | 120 | 120 | 0 | 0 | 120 | 0 | Interest Only | 1 | ||
2 | Barclays | 1 | Christiana Mall | 434 | 6.1% | 32.5% | 54,840,000 | 32.5% | 4.27750 | 0.01113 | 4.26637 | Actual/360 | 198,196.77 | 2,378,361.24 | 07/12/2018 | 09/01/2018 | 120 | 116 | 0 | 0 | 120 | 4 | Interest Only | 1 | ||
3 | KeyBank | 7 | GNL Portfolio | 152 | 6.1% | 57.2% | 54,175,000 | 57.2% | 4.85300 | 0.02306 | 4.82994 | Actual/360 | 222,135.68 | 2,665,628.16 | 11/09/2018 | 01/01/2019 | 120 | 120 | 0 | 0 | 120 | 0 | Interest Only | 1 | ||
3.01 | KeyBank | 1 | Nimble Storage | 152 | 2.4% | 57.2% | 21,325,607 | 57.2% | 4.85300 | |||||||||||||||||
3.02 | KeyBank | 1 | NetScout Systems | 152 | 2.0% | 57.2% | 17,945,340 | 57.2% | 4.85300 | |||||||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | 152 | 0.7% | 57.2% | 6,015,731 | 57.2% | 4.85300 | |||||||||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | 152 | 0.4% | 57.2% | 3,310,244 | 57.2% | 4.85300 | |||||||||||||||||
3.05 | KeyBank | 1 | PNC Bank | 152 | 0.3% | 57.2% | 2,482,682 | 57.2% | 4.85300 | |||||||||||||||||
3.06 | KeyBank | 1 | FedEx Ground | 152 | 0.2% | 57.2% | 1,949,543 | 57.2% | 4.85300 | |||||||||||||||||
3.07 | KeyBank | 1 | Weatherford International | 152 | 0.1% | 57.2% | 1,145,854 | 57.2% | 4.85300 | |||||||||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | 206 | 5.6% | 64.6% | 50,000,000 | 64.6% | 4.75500 | 0.01238 | 4.74262 | Actual/360 | 200,876.74 | 2,410,520.88 | 09/26/2018 | 11/06/2018 | 120 | 118 | 0 | 0 | 120 | 2 | Interest Only | 6 | ||
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | 206 | 4.8% | 64.6% | 42,467,603 | 64.6% | 4.75500 | |||||||||||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | 206 | 0.8% | 64.6% | 7,532,397 | 64.6% | 4.75500 | |||||||||||||||||
5 | SMC | 3 | Fidelis Portfolio | 106 | 5.5% | 63.7% | 40,549,226 | 52.5% | 5.01000 | 0.01440 | 4.99560 | Actual/360 | 264,954.44 | 3,179,453.28 | 10/05/2018 | 11/06/2018 | 120 | 118 | 360 | 358 | 0 | 2 | Balloon | 6 | ||
5.01 | SMC | 1 | Victory Lakes Town Center | 106 | 2.2% | 63.7% | 15,953,090 | 52.5% | 5.01000 | |||||||||||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | 106 | 2.1% | 63.7% | 15,351,085 | 52.5% | 5.01000 | |||||||||||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | 106 | 1.3% | 63.7% | 9,245,051 | 52.5% | 5.01000 | |||||||||||||||||
6 | SMC | 1 | Troy Place | 53 | 4.5% | 53.0% | 40,000,000 | 53.0% | 5.09000 | 0.06214 | 5.02786 | Actual/360 | 172,023.15 | 2,064,277.78 | 11/08/2018 | 01/06/2019 | 120 | 120 | 0 | 0 | 120 | 0 | Interest Only | 6 | ||
7 | SMC | 1 | West Covina Village | 164 | 4.0% | 58.4% | 32,810,382 | 53.3% | 5.43600 | 0.01339 | 5.42261 | Actual/360 | 202,960.82 | 2,435,529.84 | 11/07/2018 | 01/06/2019 | 12/06/2022 | 01/06/2023 | 120 | 120 | 360 | 360 | 48 | 0 | IO-Balloon | 6 |
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 225,641 | 3.9% | 64.6% | 32,743,579 | 60.1% | 5.57800 | 0.04214 | 5.53586 | Actual/360 | 201,587.75 | 2,419,053.00 | 11/08/2018 | 01/01/2019 | 12/01/2023 | 01/01/2024 | 120 | 120 | 360 | 360 | 60 | 0 | IO-Balloon | 1 |
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | 149,038 | 3.5% | 59.5% | 27,217,473 | 52.2% | 5.60000 | 0.01339 | 5.58661 | Actual/360 | 177,964.48 | 2,135,573.76 | 10/25/2018 | 12/06/2018 | 11/06/2020 | 12/06/2020 | 120 | 119 | 360 | 360 | 24 | 1 | IO-Balloon | 6 |
10 | Barclays | 1 | Home Depot Technology Center | 127 | 3.4% | 66.5% | 30,000,000 | 66.5% | 5.00100 | 0.01505 | 4.98595 | Actual/360 | 126,761.46 | 1,521,137.52 | 10/11/2018 | 12/05/2018 | 84 | 83 | 0 | 0 | 84 | 1 | ARD-Interest Only | 5 | ||
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | 197,368 | 3.4% | 69.0% | 25,898,261 | 59.6% | 4.91250 | 0.01238 | 4.90012 | Actual/360 | 159,446.03 | 1,913,352.36 | 08/31/2018 | 10/06/2018 | 09/06/2020 | 10/06/2020 | 120 | 117 | 360 | 360 | 24 | 3 | IO-Balloon | 6 |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | 197,368 | 2.2% | 69.0% | 16,841,814 | 59.6% | 4.91250 | |||||||||||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | 197,368 | 1.2% | 69.0% | 9,056,447 | 59.6% | 4.91250 | |||||||||||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 420 | 2.8% | 40.2% | 25,000,000 | 40.2% | 4.13098592 | 0.01238 | 4.11861 | Actual/360 | 87,257.52 | 1,047,090.24 | 09/07/2018 | 11/06/2018 | 120 | 118 | 0 | 0 | 120 | 2 | Interest Only | 6 | ||
13 | CCRE | 2 | Shelbourne Global Portfolio II | 81 | 2.8% | 58.7% | 25,000,000 | 58.7% | 5.57800 | 0.01539 | 5.56261 | Actual/360 | 117,822.34 | 1,413,868.08 | 11/15/2018 | 01/06/2019 | 120 | 120 | 0 | 0 | 120 | 0 | Interest Only | 6 | ||
13.01 | CCRE | 1 | White Clay Office Park | 81 | 1.8% | 58.7% | 16,454,545 | 58.7% | 5.57800 | |||||||||||||||||
13.02 | CCRE | 1 | University Office Plaza | 81 | 1.0% | 58.7% | 8,545,455 | 58.7% | 5.57800 | |||||||||||||||||
14 | SMC | 1 | Zenith Ridge | 185 | 2.8% | 67.6% | 22,953,334 | 62.1% | 4.70000 | 0.04238 | 4.65762 | Actual/360 | 129,659.45 | 1,555,913.40 | 07/13/2018 | 09/06/2018 | 08/06/2023 | 09/06/2023 | 120 | 116 | 360 | 360 | 60 | 4 | IO-Balloon | 6 |
15 | Barclays | 1 | Dudley Farms Plaza | 107 | 2.8% | 60.3% | 24,700,000 | 60.3% | 5.02400 | 0.01339 | 5.01061 | Actual/360 | 104,846.93 | 1,258,163.16 | 10/05/2018 | 11/06/2018 | 120 | 118 | 0 | 0 | 120 | 2 | Interest Only | 6 | ||
16 | Barclays | 1 | Moffett Towers II - Building 1 | 479 | 2.5% | 46.8% | 20,082,523 | 42.8% | 3.89396667 | 0.01113 | 3.88284 | Actual/360 | 103,690.98 | 1,244,291.76 | 07/13/2018 | 09/06/2018 | 08/06/2023 | 09/06/2023 | 116 | 112 | 360 | 360 | 60 | 4 | IO-Balloon | 6 |
17 | SMC | 1 | Round Hill Square | 181 | 2.4% | 68.6% | 19,569,998 | 63.8% | 4.98300 | 0.01339 | 4.96961 | Actual/360 | 112,648.40 | 1,351,780.80 | 09/27/2018 | 11/06/2018 | 04/06/2024 | 05/06/2024 | 120 | 118 | 360 | 360 | 66 | 2 | IO-Balloon | 6 |
18 | SMC | 6 | TX-OK Portfolio | 106 | 2.3% | 68.9% | 17,076,897 | 57.5% | 5.41000 | 0.04339 | 5.36661 | Actual/360 | 115,241.81 | 1,382,901.72 | 10/22/2018 | 12/06/2018 | 120 | 119 | 360 | 359 | 0 | 1 | Balloon | 6 | ||
18.01 | SMC | 1 | NOV | 106 | 0.6% | 68.9% | 4,657,336 | 57.5% | 5.41000 | |||||||||||||||||
18.02 | SMC | 1 | Cemex | 106 | 0.5% | 68.9% | 3,679,870 | 57.5% | 5.41000 | |||||||||||||||||
18.03 | SMC | 1 | Telge Park | 106 | 0.4% | 68.9% | 3,219,886 | 57.5% | 5.41000 | |||||||||||||||||
18.04 | SMC | 1 | Little York Industrial | 106 | 0.4% | 68.9% | 3,162,388 | 57.5% | 5.41000 | |||||||||||||||||
18.05 | SMC | 1 | South Houston Industrial | 106 | 0.2% | 68.9% | 1,437,449 | 57.5% | 5.41000 | |||||||||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | 106 | 0.1% | 68.9% | 919,968 | 57.5% | 5.41000 | |||||||||||||||||
19 | CCRE | 1 | The Shops at Solaris | 991 | 2.2% | 46.7% | 20,000,000 | 46.7% | 4.35000 | 0.01238 | 4.33762 | Actual/360 | 73,506.94 | 882,083.28 | 10/10/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
20 | SMC | 1 | Centennial Gateway | 192 | 2.0% | 69.2% | 16,591,204 | 63.8% | 5.00800 | 0.01339 | 4.99461 | Actual/360 | 96,635.32 | 1,159,623.84 | 09/28/2018 | 11/06/2018 | 10/06/2023 | 11/06/2023 | 120 | 118 | 360 | 360 | 60 | 2 | IO-Balloon | 6 |
21 | SMC | 24 | Pangea 21 | 42,274 | 2.0% | 59.9% | 17,755,000 | 59.9% | 4.99000 | 0.01339 | 4.97661 | Actual/360 | 74,856.64 | 898,279.70 | 11/01/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
21.01 | SMC | 1 | 808 West 76th Street | 42,274 | 0.2% | 59.9% | 1,423,397 | 59.9% | 4.99000 | |||||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | 42,274 | 0.1% | 59.9% | 1,228,616 | 59.9% | 4.99000 | |||||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | 42,274 | 0.1% | 59.9% | 1,153,700 | 59.9% | 4.99000 | |||||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | 42,274 | 0.1% | 59.9% | 1,063,802 | 59.9% | 4.99000 | |||||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | 42,274 | 0.1% | 59.9% | 973,903 | 59.9% | 4.99000 | |||||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | 42,274 | 0.1% | 59.9% | 958,920 | 59.9% | 4.99000 | |||||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | 42,274 | 0.1% | 59.9% | 794,105 | 59.9% | 4.99000 | |||||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | 42,274 | 0.1% | 59.9% | 779,122 | 59.9% | 4.99000 | |||||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | 42,274 | 0.1% | 59.9% | 764,139 | 59.9% | 4.99000 | |||||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | 42,274 | 0.1% | 59.9% | 764,139 | 59.9% | 4.99000 | |||||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | 42,274 | 0.1% | 59.9% | 734,173 | 59.9% | 4.99000 | |||||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | 42,274 | 0.1% | 59.9% | 689,224 | 59.9% | 4.99000 | |||||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | 42,274 | 0.1% | 59.9% | 659,257 | 59.9% | 4.99000 | |||||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | 42,274 | 0.1% | 59.9% | 629,291 | 59.9% | 4.99000 | |||||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | 42,274 | 0.1% | 59.9% | 614,308 | 59.9% | 4.99000 | |||||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | 42,274 | 0.1% | 59.9% | 599,325 | 59.9% | 4.99000 | |||||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | 42,274 | 0.1% | 59.9% | 569,359 | 59.9% | 4.99000 | |||||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | 42,274 | 0.1% | 59.9% | 554,376 | 59.9% | 4.99000 | |||||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | 42,274 | 0.1% | 59.9% | 554,376 | 59.9% | 4.99000 | |||||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | 42,274 | 0.1% | 59.9% | 494,443 | 59.9% | 4.99000 | |||||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | 42,274 | 0.1% | 59.9% | 449,494 | 59.9% | 4.99000 | |||||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | 42,274 | 0.1% | 59.9% | 449,494 | 59.9% | 4.99000 | |||||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | 42,274 | 0.1% | 59.9% | 449,494 | 59.9% | 4.99000 | |||||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | 42,274 | 0.0% | 59.9% | 404,544 | 59.9% | 4.99000 | |||||||||||||||||
22 | Barclays | 1 | Westbay Office Park | 146 | 1.8% | 75.0% | 13,916,986 | 66.6% | 5.13700 | 0.04339 | 5.09361 | Actual/360 | 85,464.11 | 1,025,569.32 | 10/22/2018 | 12/06/2018 | 11/06/2021 | 12/06/2021 | 120 | 119 | 360 | 360 | 36 | 1 | IO-Balloon | 6 |
23 | Barclays | 1 | One River Place | 159 | 1.7% | 50.5% | 15,000,000 | 50.5% | 4.73500 | 0.04672 | 4.68828 | Actual/360 | 60,009.55 | 720,114.60 | 11/01/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
24 | KeyBank | 1 | Alex Park South | 123 | 1.7% | 65.0% | 13,314,636 | 58.1% | 5.44000 | 0.01988 | 5.42012 | Actual/360 | 84,040.50 | 1,008,486.00 | 07/31/2018 | 09/01/2018 | 08/01/2021 | 09/01/2021 | 120 | 116 | 360 | 360 | 36 | 4 | IO-Balloon | 1 |
25 | CCRE | 3 | RHW Multifamily Portfolio | 51,374 | 1.6% | 68.1% | 12,283,035 | 59.7% | 5.49300 | 0.03339 | 5.45961 | Actual/360 | 79,570.82 | 954,849.84 | 11/14/2018 | 01/06/2019 | 12/06/2020 | 01/06/2021 | 120 | 120 | 360 | 360 | 24 | 0 | IO-Balloon | 6 |
25.01 | CCRE | 1 | Heathmoore | 51,374 | 0.6% | 68.1% | 4,816,876 | 59.7% | 5.49300 | |||||||||||||||||
25.02 | CCRE | 1 | Roanoke | 51,374 | 0.6% | 68.1% | 4,816,876 | 59.7% | 5.49300 | |||||||||||||||||
25.03 | CCRE | 1 | Wentworth | 51,374 | 0.3% | 68.1% | 2,649,282 | 59.7% | 5.49300 | |||||||||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | 27 | 1.6% | 72.2% | 12,188,993 | 62.8% | 5.25000 | 0.01339 | 5.23661 | Actual/360 | 77,308.52 | 927,702.24 | 11/13/2018 | 01/06/2019 | 12/06/2020 | 01/06/2021 | 120 | 120 | 360 | 360 | 24 | 0 | IO-Balloon | 6 |
26.01 | Barclays | 1 | 6301 North Broadway | 27 | 1.1% | 72.2% | 8,488,763 | 62.8% | 5.25000 | |||||||||||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | 27 | 0.5% | 72.2% | 3,700,230 | 62.8% | 5.25000 | |||||||||||||||||
27 | Barclays | 1 | Knoxville Crossing | 161 | 1.5% | 74.8% | 11,948,924 | 65.3% | 5.35900 | 0.01339 | 5.34561 | Actual/360 | 76,509.59 | 918,115.08 | 10/10/2018 | 11/06/2018 | 10/06/2020 | 11/06/2020 | 120 | 118 | 360 | 360 | 24 | 2 | IO-Balloon | 6 |
28 | Barclays | 1 | Bridgeport Center | 150 | 1.5% | 59.3% | 13,400,000 | 59.3% | 4.49400 | 0.01339 | 4.48061 | Actual/360 | 50,879.99 | 610,559.88 | 09/19/2018 | 11/06/2018 | 120 | 118 | 0 | 0 | 120 | 2 | Interest Only | 6 | ||
29 | SMC | 1 | Southern Highlands Corporate Center | 178 | 1.4% | 64.5% | 11,046,065 | 58.1% | 5.38000 | 0.01339 | 5.36661 | Actual/360 | 68,634.67 | 823,616.04 | 10/01/2018 | 11/06/2018 | 04/06/2022 | 05/06/2022 | 120 | 118 | 360 | 360 | 42 | 2 | IO-Balloon | 6 |
30 | Barclays | 1 | Fair Oaks Mall | 223 | 1.2% | 31.8% | 10,193,150 | 29.7% | 4.25800 | 0.01238 | 4.24562 | Actual/360 | 51,489.58 | 617,874.96 | 04/27/2018 | 06/10/2018 | 60 | 53 | 360 | 353 | 0 | 7 | Balloon | 10 | ||
31 | Barclays | 2 | Friedman Portfolio | 98 | 1.0% | 59.0% | 9,325,000 | 59.0% | 5.33000 | 0.01339 | 5.31661 | Actual/360 | 41,993.80 | 503,925.60 | 11/07/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
31.01 | Barclays | 1 | Jewel Osco | 98 | 0.6% | 59.0% | 5,016,614 | 59.0% | 5.33000 | |||||||||||||||||
31.02 | Barclays | 1 | Coors Bypass | 98 | 0.5% | 59.0% | 4,308,386 | 59.0% | 5.33000 | |||||||||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 73 | 1.0% | 69.2% | 7,119,378 | 57.4% | 5.21000 | 0.02214 | 5.18786 | Actual/360 | 47,276.68 | 567,320.16 | 09/28/2018 | 11/01/2018 | 120 | 118 | 360 | 358 | 0 | 2 | Balloon | 1 | ||
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 101,190 | 1.0% | 59.4% | 7,078,946 | 49.5% | 5.40000 | 0.01339 | 5.38661 | Actual/360 | 47,730.12 | 572,761.44 | 11/13/2018 | 01/06/2019 | 120 | 120 | 360 | 360 | 0 | 0 | Balloon | 6 | ||
34 | SMC | 1 | Town and Country Apartments | 26,333 | 0.9% | 50.0% | 7,900,000 | 50.0% | 5.56000 | 0.01339 | 5.54661 | Actual/360 | 37,111.71 | 445,340.56 | 11/02/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
35 | Barclays | 1 | Hampton Inn - Kimball | 87,298 | 0.8% | 64.1% | 5,737,869 | 52.6% | 4.90600 | 0.06214 | 4.84386 | Actual/360 | 37,176.40 | 446,116.80 | 09/12/2018 | 11/06/2018 | 120 | 118 | 360 | 358 | 0 | 2 | Balloon | 6 |
A-1-3
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Current Balance per Unit ($) | % of Initial Pool Balance | Current LTV (%)(5) | Maturity/ARD Balance ($)(6)(7) | Maturity/ARD LTV (%)(5) | Interest Rate % |
Admin. Fee %(8) | Net Mortgage Rate % | Accrual Type | Monthly Debt Service Amount ($)(9) | Annual Debt Service Amount ($) | Note Date | First Payment Date | Partial IO Last IO Payment | Partial IO First P&I Payment | Original Term | Remaining Term | Original Amortization(10) | Remaining Amortization(10) | I/O Period | Seasoning | Amortization Type | Payment Date |
36 | CCRE | 1 | College Park | 222 | 0.8% | 56.3% | 6,750,000 | 56.3% | 5.27100 | 0.03339 | 5.23761 | Actual/360 | 30,061.17 | 360,734.04 | 11/01/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
37 | SMC | 1 | Storage Xxtra Stockbridge | 9,254 | 0.8% | 65.4% | 5,976,753 | 58.3% | 5.36000 | 0.01339 | 5.34661 | Actual/360 | 37,455.44 | 449,465.28 | 11/01/2018 | 12/06/2018 | 11/06/2021 | 12/06/2021 | 120 | 119 | 360 | 360 | 36 | 1 | IO-Balloon | 6 |
38 | Barclays | 1 | Valley Forge Corporate Center | 94 | 0.7% | 71.3% | 4,878,800 | 58.8% | 5.04700 | 0.01339 | 5.03361 | Actual/360 | 31,977.09 | 383,725.08 | 10/12/2018 | 12/06/2018 | 120 | 119 | 360 | 359 | 0 | 1 | Balloon | 6 | ||
39 | Barclays | 1 | CB Square | 74 | 0.6% | 56.8% | 5,400,000 | 56.8% | 5.29000 | 0.01339 | 5.27661 | Actual/360 | 24,135.63 | 289,627.56 | 10/31/2018 | 12/06/2018 | 120 | 119 | 0 | 0 | 120 | 1 | Interest Only | 6 | ||
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 19,455 | 0.6% | 64.9% | 4,242,607 | 55.1% | 5.17000 | 0.02214 | 5.14786 | Actual/360 | 27,362.96 | 328,355.52 | 09/28/2018 | 11/01/2018 | 10/01/2019 | 11/01/2019 | 120 | 118 | 360 | 360 | 12 | 2 | IO-Balloon | 1 |
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 54,715 | 0.4% | 53.3% | 3,094,285 | 41.3% | 5.96900 | 0.01339 | 5.95561 | Actual/360 | 25,696.31 | 308,355.72 | 10/16/2018 | 12/06/2018 | 120 | 119 | 300 | 299 | 0 | 1 | Balloon | 6 | ||
42 | Barclays | 1 | Best Yet Storage - Shed Road | 8,333 | 0.3% | 68.9% | 2,777,108 | 61.7% | 5.56500 | 0.01339 | 5.55161 | Actual/360 | 17,728.09 | 212,737.08 | 10/23/2018 | 12/06/2018 | 11/06/2021 | 12/06/2021 | 120 | 119 | 360 | 360 | 36 | 1 | IO-Balloon | 6 |
43 | SMC | 1 | Lincoln Commonwealth Center | 268 | 0.3% | 42.3% | 2,734,771 | 38.5% | 5.45000 | 0.01339 | 5.43661 | Actual/360 | 16,939.68 | 203,276.16 | 11/01/2018 | 12/06/2018 | 11/06/2022 | 12/06/2022 | 120 | 119 | 360 | 360 | 48 | 1 | IO-Balloon | 6 |
44 | SMC | 1 | Storage Xxtra Raymond Hill | 6,112 | 0.3% | 52.6% | 2,105,942 | 44.3% | 5.34000 | 0.01339 | 5.32661 | Actual/360 | 13,944.78 | 167,337.36 | 10/25/2018 | 12/06/2018 | 05/06/2019 | 06/06/2019 | 120 | 119 | 360 | 360 | 6 | 1 | IO-Balloon | 6 |
A-1-4
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Grace Period (Late Payment)(11) |
Grace Period (Default) | Maturity /ARD Date |
ARD Loan(12) | Final Maturity Date | Prepayment Provisions(13) | Pari Passu (Y/N) | Pari Passu Note Control (Y/N) | Original Balance Piece In Trust ($) | Original Balance Piece Non-Trust ($) | Total Original Balance Pari Passu Debt ($) | Total Current Balance Pari Passu Debt ($) | Additional Debt Permitted (Y/N)(14) | Additional Debt Exist (Y/N)(14) |
1 | KeyBank | 1 | Dream Inn | 0 | 0 | 12/01/2028 | No | L(24),Def(93),O(3) | No | NAP | Yes | No | |||||
2 | Barclays | 1 | Christiana Mall | 0 | 0 | 08/01/2028 | No | L(28),Def(85),O(7) | Yes | No | 54,840,000 | 283,160,000 | 338,000,000 | 338,000,000 | Yes | Yes | |
3 | KeyBank | 7 | GNL Portfolio | 0 | 5 | 12/01/2028 | No | L(25),Grtr1%orYM(91),O(4) | Yes | Yes | 54,175,000 | 44,325,000 | 98,500,000 | 98,500,000 | No | No | |
3.01 | KeyBank | 1 | Nimble Storage | ||||||||||||||
3.02 | KeyBank | 1 | NetScout Systems | ||||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | ||||||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | ||||||||||||||
3.05 | KeyBank | 1 | PNC Bank | ||||||||||||||
3.06 | KeyBank | 1 | FedEx Ground | ||||||||||||||
3.07 | KeyBank | 1 | Weatherford International | ||||||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | 5 | 0 | 10/06/2028 | No | L(26),Def(91),O(3) | Yes | No | 50,000,000 | 115,700,000 | 165,700,000 | 165,700,000 | No | No | |
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | ||||||||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | ||||||||||||||
5 | SMC | 3 | Fidelis Portfolio | 0 | 0 | 10/06/2028 | No | L(12),Grtr1%orYM(104),O(4) | Yes | Yes | 49,300,000 | 45,000,000 | 94,300,000 | 94,086,513 | No | No | |
5.01 | SMC | 1 | Victory Lakes Town Center | ||||||||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | ||||||||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | ||||||||||||||
6 | SMC | 1 | Troy Place | 0 | 0 | 12/06/2028 | No | L(24),Def(91),O(5) | No | NAP | No | No | |||||
7 | SMC | 1 | West Covina Village | 1 (Once per calendar year) | 0 | 12/06/2028 | No | L(24),Def(92),O(4) | No | NAP | No | No | |||||
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 4 (4 times during the term of the loan) | 0 | 12/01/2028 | No | L(24),Def(92),O(4) | No | NAP | No | No | |||||
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | 0 | 0 | 11/06/2028 | No | L(25),Def(90),O(5) | No | NAP | No | No | |||||
10 | Barclays | 1 | Home Depot Technology Center | 0 | 0 | 11/05/2025 | Yes | 11/05/2028 | L(25),Def(52),O(7) | Yes | Yes | 30,000,000 | 14,300,000 | 44,300,000 | 44,300,000 | No | No |
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | 0 | 0 | 09/06/2028 | No | L(27),Def(89),O(4) | Yes | No | 30,000,000 | 60,000,000 | 90,000,000 | 90,000,000 | No | No | |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | ||||||||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | ||||||||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 0 | 0 | 10/06/2028 | No | L(24),Grtr1%orYM(2),DeforGrtr1%orYM(87),O(7) | Yes | No | 25,000,000 | 259,000,000 | 284,000,000 | 284,000,000 | No | Yes | |
13 | CCRE | 2 | Shelbourne Global Portfolio II | 0 | 0 | 12/06/2028 | No | L(24),Def(93),O(3) | Yes | Yes | 25,000,000 | 30,000,000 | 55,000,000 | 55,000,000 | Yes | No | |
13.01 | CCRE | 1 | White Clay Office Park | ||||||||||||||
13.02 | CCRE | 1 | University Office Plaza | ||||||||||||||
14 | SMC | 1 | Zenith Ridge | 0 | 0 | 08/06/2028 | No | L(28),Def(88),O(4) | Yes | No | 25,000,000 | 65,000,000 | 90,000,000 | 90,000,000 | No | No | |
15 | Barclays | 1 | Dudley Farms Plaza | 5 (Once per trailing 12-month period) | 0 | 10/06/2028 | No | L(23),Grtr1%orYM(93),O(4) | No | NAP | No | No | |||||
16 | Barclays | 1 | Moffett Towers II - Building 1 | 0 | 0 | 04/06/2028 | No | L(24),Grtr1%orYM(4),DeforGrtr1%orYM(84),O(4) | Yes | No | 22,000,000 | 146,000,000 | 168,000,000 | 168,000,000 | No | Yes | |
17 | SMC | 1 | Round Hill Square | 0 | 0 | 10/06/2028 | No | L(26),Def(89),O(5) | No | NAP | Yes | No | |||||
18 | SMC | 6 | TX-OK Portfolio | 0 | 0 | 11/06/2028 | No | L(12),Grtr1%orYM(104),O(4) | No | NAP | No | No | |||||
18.01 | SMC | 1 | NOV | ||||||||||||||
18.02 | SMC | 1 | Cemex | ||||||||||||||
18.03 | SMC | 1 | Telge Park | ||||||||||||||
18.04 | SMC | 1 | Little York Industrial | ||||||||||||||
18.05 | SMC | 1 | South Houston Industrial | ||||||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | ||||||||||||||
19 | CCRE | 1 | The Shops at Solaris | 0 | 0 | 11/06/2028 | No | L(25),Def(92),O(3) | Yes | No | 20,000,000 | 50,000,000 | 70,000,000 | 70,000,000 | No | No | |
20 | SMC | 1 | Centennial Gateway | 0 | 0 | 10/06/2028 | No | L(26),Def(90),O(4) | No | NAP | No | No | |||||
21 | SMC | 24 | Pangea 21 | 0 | 0 | 11/06/2028 | No | L(25),Def(89),O(6) | No | NAP | Yes | No | |||||
21.01 | SMC | 1 | 808 West 76th Street | ||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | ||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | ||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | ||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | ||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | ||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | ||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | ||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | ||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | ||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | ||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | ||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | ||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | ||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | ||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | ||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | ||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | ||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | ||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | ||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | ||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | ||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | ||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | ||||||||||||||
22 | Barclays | 1 | Westbay Office Park | 0 | 0 | 11/06/2028 | No | L(25),Def(88),O(7) | No | NAP | No | No | |||||
23 | Barclays | 1 | One River Place | 0 | 0 | 11/06/2028 | No | L(25),Def(88),O(7) | Yes | Yes | 15,000,000 | 10,000,000 | 25,000,000 | 25,000,000 | No | No | |
24 | KeyBank | 1 | Alex Park South | 5 | 5 | 08/01/2028 | No | L(28),Def(89),O(3) | Yes | No | 14,900,000 | 28,000,000 | 42,900,000 | 42,900,000 | No | No | |
25 | CCRE | 3 | RHW Multifamily Portfolio | 4 (2 times during the term of the loan) | 4 (2 times during the term of the loan) | 12/06/2028 | No | L(24),Def(92),O(4) | No | NAP | No | No | |||||
25.01 | CCRE | 1 | Heathmoore | ||||||||||||||
25.02 | CCRE | 1 | Roanoke | ||||||||||||||
25.03 | CCRE | 1 | Wentworth | ||||||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | 0 | 0 | 12/06/2028 | No | L(24),Def(92),O(4) | No | NAP | No | No | |||||
26.01 | Barclays | 1 | 6301 North Broadway | ||||||||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | ||||||||||||||
27 | Barclays | 1 | Knoxville Crossing | 0 | 0 | 10/06/2028 | No | L(26),Def(87),O(7) | No | NAP | No | No | |||||
28 | Barclays | 1 | Bridgeport Center | 0 | 0 | 10/06/2028 | No | L(26),Def(90),O(4) | No | NAP | Yes | No | |||||
29 | SMC | 1 | Southern Highlands Corporate Center | 0 | 0 | 10/06/2028 | No | L(26),Def(88),O(6) | No | NAP | No | No | |||||
30 | Barclays | 1 | Fair Oaks Mall | 0 | 0 | 05/10/2023 | No | L(31),Def(25),O(4) | Yes | No | 11,000,000 | 164,000,000 | 175,000,000 | 173,698,743 | No | Yes | |
31 | Barclays | 2 | Friedman Portfolio | 0 | 0 | 11/06/2028 | No | L(25),Def(88),O(7) | No | NAP | No | No | |||||
31.01 | Barclays | 1 | Jewel Osco | ||||||||||||||
31.02 | Barclays | 1 | Coors Bypass | ||||||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 0 | 5 | 10/01/2028 | No | L(26),Def(88),O(6) | No | NAP | Yes | No | |||||
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 0 | 0 | 12/06/2028 | No | L(24),Def(92),O(4) | No | NAP | No | No | |||||
34 | SMC | 1 | Town and Country Apartments | 0 | 0 | 11/06/2028 | No | L(25),Def(91),O(4) | No | NAP | No | No | |||||
35 | Barclays | 1 | Hampton Inn - Kimball | 0 | 0 | 10/06/2028 | No | L(26),Def(90),O(4) | No | NAP | No | No |
A-1-5
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Grace Period (Late Payment)(11) |
Grace Period (Default) | Maturity /ARD Date |
ARD Loan(12) | Final Maturity Date | Prepayment Provisions(13) | Pari Passu (Y/N) | Pari Passu Note Control (Y/N) | Original Balance Piece In Trust ($) | Original Balance Piece Non-Trust ($) | Total Original Balance Pari Passu Debt ($) | Total Current Balance Pari Passu Debt ($) | Additional Debt Permitted (Y/N)(14) | Additional Debt Exist (Y/N)(14) |
36 | CCRE | 1 | College Park | 0 | 0 | 11/06/2028 | No | L(25),Def(90),O(5) | No | NAP | No | No | |||||
37 | SMC | 1 | Storage Xxtra Stockbridge | 0 | 0 | 11/06/2028 | No | L(25),Def(91),O(4) | No | NAP | No | No | |||||
38 | Barclays | 1 | Valley Forge Corporate Center | 0 | 0 | 11/06/2028 | No | L(25),Def(91),O(4) | No | NAP | No | No | |||||
39 | Barclays | 1 | CB Square | 0 | 0 | 11/06/2028 | No | L(25),Def(88),O(7) | No | NAP | No | No | |||||
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 0 | 5 | 10/01/2028 | No | L(25),Grtr1%orYM(92),O(3) | No | NAP | No | No | |||||
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 0 | 0 | 11/06/2028 | No | L(25),Def(90),O(5) | No | NAP | No | No | |||||
42 | Barclays | 1 | Best Yet Storage - Shed Road | 0 | 0 | 11/06/2028 | No | L(24),Grtr1%orYM(92),O(4) | No | NAP | No | No | |||||
43 | SMC | 1 | Lincoln Commonwealth Center | 0 | 0 | 11/06/2028 | No | L(25),Def(91),O(4) | No | NAP | No | No | |||||
44 | SMC | 1 | Storage Xxtra Raymond Hill | 0 | 0 | 11/06/2028 | No | L(25),Def(91),O(4) | No | NAP | No | No |
A-1-6
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Additional Debt Type(s)(14) | Additional Debt Current Balance ($) | Additional Debt Interest Rate % | Total Debt Current Balance ($) |
Total Debt UW NCF DSCR (x) | Total Debt Current LTV (%) | Total Debt UW NOI Debt Yield (%) | Current U/W NOI Debt Yield (%) | Current U/W NCF Debt Yield (%) | U/W NOI DSCR (x)(15) |
U/W NCF DSCR (x)(15) |
U/W Economic Occupancy (%) | U/W Revenues ($)(16) |
U/W Expenses ($) | U/W Net Operating Income ($) |
U/W Capital Items ($)(17) |
1 | KeyBank | 1 | Dream Inn | Future Mezzanine Loan | NAP | NAP | NAP | NAP | NAP | NAP | 13.3% | 12.2% | 2.60 | 2.38 | 83.3% | 22,826,143 | 15,514,540 | 7,311,603 | 617,291 |
2 | Barclays | 1 | Christiana Mall | B-Note/Future Mezzanine Loan | 212,000,000 | 4.27750 | 550,000,000 | 1.93 | 52.9% | 8.5% | 13.8% | 13.6% | 3.19 | 3.15 | 96.8% | 56,260,022 | 9,514,932 | 46,745,090 | 640,526 |
3 | KeyBank | 7 | GNL Portfolio | NAP | NAP | NAP | 98,500,000 | 2.08 | 57.2% | 11.0% | 11.0% | 10.2% | 2.24 | 2.08 | 91.3% | 13,867,956 | 3,011,132 | 10,856,824 | 787,584 |
3.01 | KeyBank | 1 | Nimble Storage | 90.0% | 4,618,009 | 866,853 | 3,751,156 | 287,409 | |||||||||||
3.02 | KeyBank | 1 | NetScout Systems | 90.0% | 3,959,693 | 775,913 | 3,183,780 | 226,956 | |||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | 92.5% | 2,462,730 | 671,997 | 1,790,733 | 109,793 | |||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | 92.5% | 977,331 | 177,726 | 799,605 | 50,734 | |||||||||||
3.05 | KeyBank | 1 | PNC Bank | 95.0% | 1,038,223 | 348,891 | 689,332 | 64,535 | |||||||||||
3.06 | KeyBank | 1 | FedEx Ground | 95.0% | 566,295 | 154,781 | 411,514 | 37,853 | |||||||||||
3.07 | KeyBank | 1 | Weatherford International | 95.0% | 245,675 | 14,971 | 230,704 | 10,304 | |||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | NAP | NAP | NAP | 165,700,000 | 1.77 | 64.6% | 9.1% | 9.1% | 8.5% | 1.89 | 1.77 | 95.0% | 19,169,391 | 4,059,580 | 15,109,811 | 979,793 |
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | 95.0% | 16,209,889 | 3,419,672 | 12,790,217 | 827,517 | |||||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | 95.0% | 2,959,502 | 639,908 | 2,319,594 | 152,275 | |||||||||||
5 | SMC | 3 | Fidelis Portfolio | NAP | NAP | NAP | 94,086,513 | 1.74 | 63.7% | 11.9% | 11.9% | 11.3% | 1.84 | 1.74 | 91.5% | 15,940,840 | 4,767,276 | 11,173,564 | 575,710 |
5.01 | SMC | 1 | Victory Lakes Town Center | 95.0% | 6,033,195 | 1,559,644 | 4,473,551 | 240,739 | |||||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | 87.3% | 5,602,997 | 1,744,940 | 3,858,058 | 157,823 | |||||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | 92.6% | 4,304,647 | 1,462,692 | 2,841,955 | 177,148 | |||||||||||
6 | SMC | 1 | Troy Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 15.2% | 12.8% | 2.95 | 2.47 | 73.0% | 10,550,799 | 4,466,390 | 6,084,409 | 983,899 |
7 | SMC | 1 | West Covina Village | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.0% | 9.3% | 1.48 | 1.37 | 92.8% | 5,044,678 | 1,435,151 | 3,609,527 | 264,000 |
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12.9% | 11.7% | 1.88 | 1.70 | 84.0% | 11,054,987 | 6,507,816 | 4,547,171 | 442,199 |
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12.3% | 10.8% | 1.78 | 1.56 | 73.0% | 9,330,088 | 5,528,865 | 3,801,223 | 466,504 |
10 | Barclays | 1 | Home Depot Technology Center | NAP | NAP | NAP | 44,300,000 | 1.77 | 66.5% | 9.3% | 9.3% | 9.0% | 1.83 | 1.77 | 96.1% | 5,857,123 | 1,737,924 | 4,119,198 | 135,825 |
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | NAP | NAP | NAP | 90,000,000 | 1.84 | 69.0% | 13.1% | 13.1% | 11.8% | 2.05 | 1.84 | 73.1% | 30,113,592 | 18,324,515 | 11,789,077 | 1,204,544 |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | 71.1% | 20,016,328 | 12,352,214 | 7,664,114 | 800,653 | |||||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | 76.6% | 10,097,264 | 5,972,301 | 4,124,963 | 403,891 | |||||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | Mezzanine A Loan ($150,000,000)/Mezzanine B Loan ($66,000,000) | 216,000,000 | 6.01528 | 500,000,000 | 1.41 | 70.8% | 7.2% | 12.6% | 12.4% | 3.01 | 2.97 | 95.0% | 44,603,641 | 8,747,532 | 35,856,109 | 547,016 |
13 | CCRE | 2 | Shelbourne Global Portfolio II | Future Mezzanine Loan | NAP | NAP | 55,000,000 | 1.89 | 58.7% | 11.4% | 11.4% | 10.7% | 2.02 | 1.89 | 92.7% | 10,439,667 | 4,165,229 | 6,274,437 | 384,986 |
13.01 | CCRE | 1 | White Clay Office Park | 94.8% | 7,078,874 | 2,942,641 | 4,136,232 | 265,230 | |||||||||||
13.02 | CCRE | 1 | University Office Plaza | 88.4% | 3,360,793 | 1,222,588 | 2,138,205 | 119,756 | |||||||||||
14 | SMC | 1 | Zenith Ridge | NAP | NAP | NAP | 90,000,000 | 1.54 | 67.6% | 10.5% | 10.5% | 9.6% | 1.68 | 1.54 | 95.0% | 12,152,422 | 2,723,379 | 9,429,044 | 801,900 |
15 | Barclays | 1 | Dudley Farms Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11.6% | 10.7% | 2.27 | 2.11 | 95.0% | 3,762,144 | 900,283 | 2,861,861 | 210,434 |
16 | Barclays | 1 | Moffett Towers II - Building 1 | Mezzanine Loan | 112,000,000 | 6.00000 | 280,000,000 | 1.17 | 78.1% | 6.9% | 11.5% | 11.3% | 2.03 | 2.00 | 95.1% | 22,533,789 | 3,284,899 | 19,248,890 | 217,321 |
17 | SMC | 1 | Round Hill Square | Future Mezzanine Loan/Preferred Equity | NAP | NAP | NAP | NAP | NAP | NAP | 9.1% | 8.9% | 1.42 | 1.38 | 95.8% | 2,596,442 | 677,555 | 1,918,888 | 57,992 |
18 | SMC | 6 | TX-OK Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.8% | 8.9% | 1.45 | 1.32 | 94.6% | 2,592,693 | 591,437 | 2,001,256 | 176,460 |
18.01 | SMC | 1 | NOV | 95.0% | 661,531 | 77,161 | 584,370 | 36,892 | |||||||||||
18.02 | SMC | 1 | Cemex | 93.8% | 548,606 | 130,816 | 417,790 | 36,558 | |||||||||||
18.03 | SMC | 1 | Telge Park | 95.0% | 602,103 | 179,296 | 422,807 | 29,344 | |||||||||||
18.04 | SMC | 1 | Little York Industrial | 94.5% | 356,953 | 71,982 | 284,971 | 51,446 | |||||||||||
18.05 | SMC | 1 | South Houston Industrial | 95.0% | 252,395 | 74,530 | 177,864 | 13,675 | |||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | 94.7% | 171,106 | 57,652 | 113,454 | 8,547 | |||||||||||
19 | CCRE | 1 | The Shops at Solaris | NAP | NAP | NAP | 70,000,000 | 2.46 | 46.7% | 11.1% | 11.1% | 10.8% | 2.52 | 2.46 | 95.0% | 9,597,539 | 1,830,761 | 7,766,778 | 175,994 |
20 | SMC | 1 | Centennial Gateway | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.5% | 9.9% | 1.62 | 1.54 | 95.0% | 2,216,497 | 333,789 | 1,882,708 | 95,784 |
21 | SMC | 24 | Pangea 21 | Future Mezzanine Loan | NAP | NAP | NAP | NAP | NAP | NAP | 10.7% | 10.1% | 2.11 | 2.00 | 85.3% | 3,365,965 | 1,467,135 | 1,898,830 | 105,000 |
21.01 | SMC | 1 | 808 West 76th Street | ||||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | ||||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | ||||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | ||||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | ||||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | ||||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | ||||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | ||||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | ||||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | ||||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | ||||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | ||||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | ||||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | ||||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | ||||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | ||||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | ||||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | ||||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | ||||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | ||||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | ||||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | ||||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | ||||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | ||||||||||||||||
22 | Barclays | 1 | Westbay Office Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.0% | 9.2% | 1.53 | 1.41 | 90.0% | 2,086,828 | 520,343 | 1,566,485 | 118,302 |
23 | Barclays | 1 | One River Place | NAP | NAP | NAP | 25,000,000 | 2.51 | 50.5% | 13.1% | 13.1% | 12.0% | 2.73 | 2.51 | 95.0% | 4,367,307 | 1,086,298 | 3,281,009 | 272,607 |
24 | KeyBank | 1 | Alex Park South | NAP | NAP | NAP | 42,900,000 | 1.32 | 65.0% | 10.1% | 10.1% | 8.9% | 1.50 | 1.32 | 91.9% | 7,726,071 | 3,373,977 | 4,352,093 | 519,213 |
25 | CCRE | 3 | RHW Multifamily Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.4% | 8.8% | 1.38 | 1.29 | 86.3% | 2,492,435 | 1,178,994 | 1,313,441 | 81,900 |
25.01 | CCRE | 1 | Heathmoore | 85.8% | 981,243 | 461,605 | 519,638 | 33,000 | |||||||||||
25.02 | CCRE | 1 | Roanoke | 87.5% | 870,713 | 364,889 | 505,824 | 26,400 | |||||||||||
25.03 | CCRE | 1 | Wentworth | 85.5% | 640,479 | 352,500 | 287,979 | 22,500 | |||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11.3% | 10.1% | 1.70 | 1.52 | 90.5% | 1,783,033 | 205,990 | 1,577,043 | 165,370 |
26.01 | Barclays | 1 | 6301 North Broadway | 87.2% | 1,290,877 | 192,186 | 1,098,691 | 118,487 | |||||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | 100.0% | 492,157 | 13,804 | 478,353 | 46,883 | |||||||||||
27 | Barclays | 1 | Knoxville Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.0% | 9.6% | 1.50 | 1.42 | 92.0% | 1,863,600 | 488,081 | 1,375,519 | 68,098 |
28 | Barclays | 1 | Bridgeport Center | Future Mezzanine Loan | NAP | NAP | NAP | NAP | NAP | NAP | 11.0% | 10.2% | 2.42 | 2.24 | 84.2% | 2,215,813 | 736,969 | 1,478,843 | 110,361 |
29 | SMC | 1 | Southern Highlands Corporate Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.8% | 9.2% | 1.45 | 1.37 | 94.0% | 1,799,935 | 602,766 | 1,197,169 | 68,420 |
30 | Barclays | 1 | Fair Oaks Mall | B-Note | 84,367,961 | 7.50000 | 258,066,704 | 1.64 | 47.3% | 11.6% | 17.2% | 16.3% | 3.04 | 2.89 | 86.7% | 45,095,362 | 15,187,457 | 29,907,905 | 1,509,840 |
31 | Barclays | 2 | Friedman Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.5% | 8.9% | 1.76 | 1.65 | 95.0% | 1,058,002 | 169,272 | 888,729 | 58,136 |
31.01 | Barclays | 1 | Jewel Osco | 95.0% | 481,242 | 17,500 | 463,742 | 26,558 | |||||||||||
31.02 | Barclays | 1 | Coors Bypass | 95.0% | 576,760 | 151,773 | 424,987 | 31,578 | |||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | Future Mezzanine Loan | NAP | NAP | NAP | NAP | NAP | NAP | 11.0% | 9.7% | 1.67 | 1.47 | 94.8% | 1,222,750 | 274,996 | 947,753 | 115,941 |
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12.8% | 11.6% | 1.89 | 1.72 | 64.0% | 2,449,645 | 1,365,364 | 1,084,280 | 97,986 |
34 | SMC | 1 | Town and Country Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.8% | 8.8% | 1.74 | 1.56 | 71.3% | 1,925,050 | 1,149,358 | 775,692 | 82,567 |
35 | Barclays | 1 | Hampton Inn - Kimball | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 16.3% | 14.8% | 2.56 | 2.32 | 80.8% | 2,617,320 | 1,476,078 | 1,141,242 | 104,693 |
A-1-7
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Additional Debt Type(s)(14) | Additional Debt Current Balance ($) | Additional Debt Interest Rate % | Total Debt Current Balance ($) |
Total Debt UW NCF DSCR (x) | Total Debt Current LTV (%) | Total Debt UW NOI Debt Yield (%) | Current U/W NOI Debt Yield (%) | Current U/W NCF Debt Yield (%) | U/W NOI DSCR (x)(15) |
U/W NCF DSCR (x)(15) |
U/W Economic Occupancy (%) | U/W Revenues ($)(16) |
U/W Expenses ($) | U/W Net Operating Income ($) |
U/W Capital Items ($)(17) |
36 | CCRE | 1 | College Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.9% | 9.4% | 1.86 | 1.76 | 91.2% | 929,717 | 258,173 | 671,544 | 37,086 |
37 | SMC | 1 | Storage Xxtra Stockbridge | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.6% | 9.4% | 1.43 | 1.41 | 78.8% | 934,223 | 293,083 | 641,140 | 9,113 |
38 | Barclays | 1 | Valley Forge Corporate Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12.1% | 10.9% | 1.87 | 1.68 | 90.0% | 1,096,740 | 378,984 | 717,755 | 72,523 |
39 | Barclays | 1 | CB Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.4% | 9.9% | 1.94 | 1.84 | 76.3% | 907,324 | 345,109 | 562,215 | 29,099 |
40 | KeyBank | 1 | US Storage Centers - Bakersfield | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.5% | 9.3% | 1.45 | 1.41 | 92.7% | 683,083 | 207,378 | 475,704 | 12,245 |
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 19.0% | 17.2% | 2.46 | 2.22 | 67.8% | 1,781,519 | 1,024,487 | 757,032 | 71,261 |
42 | Barclays | 1 | Best Yet Storage - Shed Road | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9.6% | 9.5% | 1.40 | 1.38 | 85.4% | 456,074 | 157,895 | 298,178 | 4,784 |
43 | SMC | 1 | Lincoln Commonwealth Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 13.8% | 13.4% | 2.03 | 1.98 | 95.0% | 508,565 | 95,653 | 412,911 | 9,739 |
44 | SMC | 1 | Storage Xxtra Raymond Hill | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10.5% | 10.3% | 1.57 | 1.53 | 81.2% | 425,773 | 163,156 | 262,617 | 5,892 |
A-1-8
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
HISTORICAL FINANCIALS(18) | ||||||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | U/W Net Cash Flow ($) |
Most Recent Revenues ($) | Most Recent Expenses ($) | Most Recent NOI ($) | As of | 2017 Revenues ($) | 2017 Expenses ($) | 2017 NOI ($) |
2016 Revenues ($) | 2016 Expenses ($) | 2016 NOI ($) |
2015 Revenues ($) | 2015 Expenses ($) | 2015 NOI ($) |
Title Type(19) | Ground Lease Expiration | Ground Lease Extension Terms | Ground Lease Annual Payment | PML % |
1 | KeyBank | 1 | Dream Inn | 6,694,311 | 22,826,143 | 15,222,177 | 7,603,966 | TTM 09/30/2018 | 19,191,526 | 13,505,907 | 5,685,619 | 17,813,827 | 12,280,909 | 5,532,918 | 18,823,656 | 11,925,418 | 6,898,238 | Fee | 19% | |||
2 | Barclays | 1 | Christiana Mall | 46,104,564 | 54,029,729 | 10,479,303 | 43,550,426 | TTM 05/31/2018 | 54,058,534 | 10,544,365 | 43,514,169 | 54,140,474 | 10,182,915 | 43,957,559 | 52,126,066 | 10,208,012 | 41,918,054 | Fee/Leasehold | 12/31/2028 | None | $0 | |
3 | KeyBank | 7 | GNL Portfolio | 10,069,241 | 9,764,886 | 1,703,495 | 8,061,391 | TTM 07/31/2018 | 9,565,204 | 1,554,087 | 8,011,118 | 8,607,204 | 1,199,606 | 7,407,598 | 8,817,537 | 1,552,230 | 7,265,307 | Fee | Various | |||
3.01 | KeyBank | 1 | Nimble Storage | 3,463,748 | 4,848,869 | 810,142 | 4,038,727 | TTM 07/31/2018 | 4,933,544 | 860,152 | 4,073,392 | 4,492,466 | 566,002 | 3,926,464 | 4,801,604 | 961,515 | 3,840,089 | Fee | 19% | |||
3.02 | KeyBank | 1 | NetScout Systems | 2,956,824 | Fee | |||||||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | 1,680,940 | 2,479,612 | 657,929 | 1,821,683 | TTM 07/31/2018 | 2,375,601 | 535,724 | 1,839,877 | 2,352,949 | 587,241 | 1,765,708 | 2,293,496 | 568,304 | 1,725,193 | Fee | ||||
3.04 | KeyBank | 1 | PPD Global Labs | 748,870 | 920,481 | 59,663 | 860,818 | TTM 07/31/2018 | 910,329 | 49,867 | 860,462 | 882,105 | 42,928 | 839,177 | 853,409 | 11,799 | 841,610 | Fee | ||||
3.05 | KeyBank | 1 | PNC Bank | 624,797 | 671,478 | 19,375 | 652,103 | TTM 07/31/2018 | 661,231 | 2,689 | 658,542 | 648,310 | 2,680 | 645,630 | 635,598 | 2,627 | 632,970 | Fee | ||||
3.06 | KeyBank | 1 | FedEx Ground | 373,661 | 603,216 | 138,897 | 464,319 | TTM 07/31/2018 | 444,601 | 93,942 | 350,660 | Fee | ||||||||||
3.07 | KeyBank | 1 | Weatherford International | 220,400 | 241,230 | 17,489 | 223,741 | TTM 07/31/2018 | 239,898 | 11,714 | 228,184 | 231,374 | 755 | 230,619 | 233,430 | 7,985 | 225,445 | Fee | ||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | 14,130,018 | 17,361,723 | 2,858,899 | 14,502,825 | T-7 Ann. 07/31/2018 | 10,833,560 | 2,085,330 | 8,748,230 | 8,906,536 | 1,704,875 | 7,201,661 | 5,666,748 | 1,015,706 | 4,651,042 | Various | Various | Various | Various | |
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | 11,962,700 | 14,474,784 | 2,355,223 | 12,119,561 | T-7 Ann. 07/31/2018 | 7,965,235 | 1,571,541 | 6,393,694 | 5,306,641 | 1,191,393 | 4,115,248 | 1,585,912 | 527,540 | 1,058,372 | Fee/Leasehold | Various | None | $916,929 | |
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | 2,167,319 | 2,886,939 | 503,676 | 2,383,263 | T-7 Ann. 07/31/2018 | 2,868,325 | 513,789 | 2,354,536 | 3,599,895 | 513,482 | 3,086,413 | 4,080,836 | 488,166 | 3,592,670 | Fee | ||||
5 | SMC | 3 | Fidelis Portfolio | 10,597,854 | 14,508,461 | 3,996,132 | 10,512,329 | TTM 08/31/2018 | 14,564,250 | 4,398,547 | 10,165,703 | 14,484,632 | 4,345,843 | 10,138,789 | 14,206,185 | 4,358,583 | 9,847,602 | Fee | ||||
5.01 | SMC | 1 | Victory Lakes Town Center | 4,232,813 | 5,226,175 | 1,257,703 | 3,968,472 | TTM 08/31/2018 | 5,249,419 | 1,412,495 | 3,836,923 | 5,273,603 | 1,441,769 | 3,831,834 | 5,380,691 | 1,430,800 | 3,949,891 | Fee | ||||
5.02 | SMC | 1 | McKinney Towne Crossing | 3,700,234 | 5,041,155 | 1,375,241 | 3,665,914 | TTM 08/31/2018 | 5,012,930 | 1,514,492 | 3,498,438 | 4,862,334 | 1,500,573 | 3,361,761 | 4,632,348 | 1,619,759 | 3,012,589 | Fee | ||||
5.03 | SMC | 1 | Riverstone Shopping Center | 2,664,807 | 4,241,131 | 1,363,188 | 2,877,943 | TTM 08/31/2018 | 4,301,901 | 1,471,560 | 2,830,341 | 4,348,695 | 1,403,501 | 2,945,194 | 4,193,146 | 1,308,024 | 2,885,122 | Fee | ||||
6 | SMC | 1 | Troy Place | 5,100,510 | 8,947,069 | 4,413,992 | 4,533,077 | TTM 09/30/2018 | 8,383,832 | 4,158,041 | 4,225,791 | 7,506,821 | 4,084,213 | 3,422,608 | 7,287,391 | 3,925,236 | 3,362,155 | Fee | ||||
7 | SMC | 1 | West Covina Village | 3,345,527 | 4,169,571 | 1,399,910 | 2,769,661 | TTM 08/31/2018 | 4,131,333 | 1,339,711 | 2,791,622 | 4,065,078 | 1,364,291 | 2,700,787 | 3,877,440 | 1,300,134 | 2,577,306 | Fee | 9% | |||
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 4,104,972 | 10,173,883 | 6,581,144 | 3,592,739 | TTM 08/31/2018 | 10,605,103 | 6,395,691 | 4,209,412 | 10,943,000 | 6,261,071 | 4,681,929 | 10,767,247 | 6,108,605 | 4,658,642 | Fee | ||||
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | 3,334,718 | 9,330,088 | 5,505,373 | 3,824,715 | TTM 09/30/2018 | 9,255,820 | 5,395,352 | 3,860,467 | 8,644,336 | 5,052,883 | 3,591,453 | 8,444,028 | 4,810,834 | 3,633,194 | Leasehold | 04/17/2077 | One 15-year option followed by one 14-year option | $331,963 | |
10 | Barclays | 1 | Home Depot Technology Center | 3,983,373 | 5,618,072 | 1,709,507 | 3,908,565 | TTM 08/31/2018 | 4,467,959 | 1,582,192 | 2,885,767 | 2,478,395 | 1,491,128 | 987,268 | 1,182,718 | 1,165,609 | 17,108 | Fee | ||||
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | 10,584,533 | 30,066,599 | 18,225,519 | 11,841,080 | TTM 05/31/2018 | 30,917,483 | 18,407,936 | 12,509,547 | 31,038,981 | 18,754,354 | 12,284,627 | 29,554,323 | 18,212,755 | 11,341,568 | Fee/Leasehold | ||||
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | 6,863,461 | 19,969,335 | 12,352,327 | 7,617,008 | TTM 05/31/2018 | 20,662,681 | 12,488,938 | 8,173,743 | 20,777,960 | 12,950,847 | 7,827,113 | 20,204,653 | 12,731,919 | 7,472,734 | Fee/Leasehold | ||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | 3,721,073 | 10,097,264 | 5,873,192 | 4,224,072 | TTM 05/31/2018 | 10,254,802 | 5,918,998 | 4,335,804 | 10,261,021 | 5,803,508 | 4,457,513 | 9,349,670 | 5,480,836 | 3,868,834 | Fee/Leasehold | ||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 35,309,093 | 32,818,293 | 7,649,480 | 25,168,813 | TTM 05/31/2018 | 32,579,236 | 7,625,984 | 24,953,252 | 32,138,354 | 7,161,118 | 24,977,236 | 31,625,808 | 7,258,056 | 24,367,752 | Fee | 13% | |||
13 | CCRE | 2 | Shelbourne Global Portfolio II | 5,889,451 | 9,859,275 | 4,118,616 | 5,740,659 | TTM 08/31/2018 | 9,405,878 | 4,020,817 | 5,385,061 | Fee | ||||||||||
13.01 | CCRE | 1 | White Clay Office Park | 3,871,002 | 6,825,920 | 2,896,295 | 3,929,625 | TTM 08/31/2018 | 6,572,660 | 2,860,748 | 3,711,913 | Fee | ||||||||||
13.02 | CCRE | 1 | University Office Plaza | 2,018,449 | 3,033,355 | 1,222,321 | 1,811,034 | TTM 08/31/2018 | 2,833,218 | 1,160,069 | 1,673,148 | Fee | ||||||||||
14 | SMC | 1 | Zenith Ridge | 8,627,144 | 11,411,164 | 2,040,081 | 9,371,083 | TTM 05/31/2018 | 11,193,818 | 1,959,830 | 9,233,988 | 9,275,299 | 1,618,191 | 7,657,108 | Fee | |||||||
15 | Barclays | 1 | Dudley Farms Plaza | 2,651,427 | 3,722,917 | 904,182 | 2,818,736 | TTM 08/31/2018 | 3,730,732 | 821,356 | 2,909,376 | 3,710,218 | 898,210 | 2,812,008 | 3,694,904 | 827,101 | 2,867,803 | Leasehold | 10/31/2096 | None | $231,130 | |
16 | Barclays | 1 | Moffett Towers II - Building 1 | 19,031,569 | Fee | 5% | ||||||||||||||||
17 | SMC | 1 | Round Hill Square | 1,860,896 | 2,534,363 | 675,116 | 1,859,247 | TTM 08/31/2018 | 2,623,480 | 793,483 | 1,829,997 | 2,611,050 | 627,907 | 1,983,143 | 2,474,837 | 659,409 | 1,815,427 | Fee | 10% | |||
18 | SMC | 6 | TX-OK Portfolio | 1,824,796 | 1,255,708 | 158,721 | 1,096,987 | 1,089,229 | 105,636 | 983,593 | Fee | |||||||||||
18.01 | SMC | 1 | NOV | 547,478 | 561,396 | 350 | 561,046 | 549,409 | 350 | 549,059 | Fee | |||||||||||
18.02 | SMC | 1 | Cemex | 381,232 | 565,432 | 124,847 | 440,585 | 539,820 | 105,286 | 434,534 | Fee | |||||||||||
18.03 | SMC | 1 | Telge Park | 393,464 | Fee | |||||||||||||||||
18.04 | SMC | 1 | Little York Industrial | 233,525 | Fee | |||||||||||||||||
18.05 | SMC | 1 | South Houston Industrial | 164,190 | Fee | |||||||||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | 104,908 | 128,880 | 33,524 | 95,356 | Fee | ||||||||||||||
19 | CCRE | 1 | The Shops at Solaris | 7,590,784 | 9,353,373 | 1,600,971 | 7,752,402 | TTM 08/31/2018 | 8,689,122 | 1,514,420 | 7,174,703 | 8,292,213 | 1,354,388 | 6,937,825 | 8,250,132 | 1,404,797 | 6,845,335 | Fee | ||||
20 | SMC | 1 | Centennial Gateway | 1,786,924 | 1,897,799 | 318,303 | 1,579,496 | TTM 06/30/2018 | 1,849,694 | 323,442 | 1,526,252 | 1,286,664 | 269,423 | 1,017,241 | 297,986 | 269,173 | 28,813 | Fee | ||||
21 | SMC | 24 | Pangea 21 | 1,793,830 | 3,365,965 | 1,462,712 | 1,903,253 | TTM 08/31/2018 | 3,384,477 | 1,470,113 | 1,914,364 | 3,327,919 | 1,508,554 | 1,819,365 | 3,206,934 | 1,503,778 | 1,703,156 | Fee | ||||
21.01 | SMC | 1 | 808 West 76th Street | Fee | ||||||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | Fee | ||||||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | Fee | ||||||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | Fee | ||||||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | Fee | ||||||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | Fee | ||||||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | Fee | ||||||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | Fee | ||||||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | Fee | ||||||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | Fee | ||||||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | Fee | ||||||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | Fee | ||||||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | Fee | ||||||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | Fee | ||||||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | Fee | ||||||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | Fee | ||||||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | Fee | ||||||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | Fee | ||||||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | Fee | ||||||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | Fee | ||||||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | Fee | ||||||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | Fee | ||||||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | Fee | ||||||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | Fee | ||||||||||||||||||
22 | Barclays | 1 | Westbay Office Park | 1,448,183 | 1,435,629 | 518,665 | 916,964 | TTM 08/31/2018 | 1,597,123 | 464,358 | 1,132,765 | 1,446,636 | 393,928 | 1,052,708 | 1,177,885 | 378,130 | 799,755 | Fee | ||||
23 | Barclays | 1 | One River Place | 3,008,402 | 5,070,130 | 1,101,111 | 3,969,019 | TTM 09/30/2018 | 5,280,460 | 1,081,414 | 4,199,046 | 5,000,001 | 1,004,140 | 3,995,861 | 4,926,504 | 951,678 | 3,974,826 | Fee | ||||
24 | KeyBank | 1 | Alex Park South | 3,832,880 | 7,181,377 | 2,993,493 | 4,187,884 | TTM 05/31/2018 | 6,800,883 | 3,299,475 | 3,501,408 | 8,026,055 | 3,362,400 | 4,663,655 | 7,985,946 | 3,259,664 | 4,726,282 | Fee | ||||
25 | CCRE | 3 | RHW Multifamily Portfolio | 1,231,541 | 2,499,493 | 1,151,862 | 1,347,631 | TTM 09/30/2018 | 2,468,511 | 1,155,629 | 1,312,882 | 2,374,130 | 1,171,984 | 1,202,146 | 2,313,489 | 1,104,007 | 1,209,482 | Fee | ||||
25.01 | CCRE | 1 | Heathmoore | 486,638 | 981,243 | 447,793 | 533,450 | TTM 09/30/2018 | 1,000,104 | 442,759 | 557,345 | 930,034 | 457,910 | 472,124 | 894,488 | 404,290 | 490,198 | Fee | ||||
25.02 | CCRE | 1 | Roanoke | 479,424 | 877,771 | 357,357 | 520,414 | TTM 09/30/2018 | 848,774 | 375,243 | 473,531 | 834,219 | 378,208 | 456,011 | 836,697 | 378,919 | 457,778 | Fee | ||||
25.03 | CCRE | 1 | Wentworth | 265,479 | 640,479 | 346,712 | 293,767 | TTM 09/30/2018 | 619,633 | 337,627 | 282,006 | 609,877 | 335,866 | 274,011 | 582,304 | 320,798 | 261,506 | Fee | ||||
26 | Barclays | 2 | Hostess Industrial Portfolio | 1,411,673 | 1,885,605 | 204,350 | 1,681,255 | TTM 09/30/2018 | 1,827,970 | 203,437 | 1,624,533 | 1,719,237 | 184,797 | 1,534,440 | 1,152,258 | 200,965 | 951,293 | Fee | ||||
26.01 | Barclays | 1 | 6301 North Broadway | 980,204 | 1,393,449 | 188,085 | 1,205,364 | TTM 09/30/2018 | 1,335,814 | 189,338 | 1,146,476 | 1,323,120 | 169,836 | 1,153,284 | 1,152,258 | 200,965 | 951,293 | Fee | ||||
26.02 | Barclays | 1 | 7714 Commercial Drive | 431,469 | 492,156 | 16,265 | 475,891 | TTM 09/30/2018 | 492,156 | 14,099 | 478,057 | 396,117 | 14,961 | 381,156 | Fee | |||||||
27 | Barclays | 1 | Knoxville Crossing | 1,307,421 | 1,659,733 | 403,845 | 1,255,888 | TTM 07/31/2018 | 1,540,299 | 373,214 | 1,167,085 | Fee | ||||||||||
28 | Barclays | 1 | Bridgeport Center | 1,368,482 | 2,091,375 | 728,806 | 1,362,569 | TTM 08/31/2018 | 2,034,667 | 710,102 | 1,324,565 | 1,993,755 | 643,128 | 1,350,627 | 2,103,521 | 717,779 | 1,385,742 | Fee | 11% | |||
29 | SMC | 1 | Southern Highlands Corporate Center | 1,128,749 | 1,687,553 | 598,159 | 1,089,394 | TTM 07/31/2018 | 1,673,613 | 581,384 | 1,092,229 | 1,462,325 | 568,264 | 894,061 | 1,357,059 | 604,820 | 752,239 | Fee | ||||
30 | Barclays | 1 | Fair Oaks Mall | 28,398,064 | 47,308,867 | 15,012,540 | 32,296,326 | 50,381,051 | 15,478,478 | 34,902,573 | 49,139,554 | 14,789,192 | 34,350,362 | Fee | ||||||||
31 | Barclays | 2 | Friedman Portfolio | 830,593 | 1,037,326 | 136,873 | 900,453 | T-11 Ann. 09/30/2018 | 985,351 | 138,522 | 846,829 | Fee | ||||||||||
31.01 | Barclays | 1 | Jewel Osco | 437,184 | 491,820 | 0 | 491,820 | T-11 Ann. 09/30/2018 | 491,814 | 0 | 491,814 | Fee | ||||||||||
31.02 | Barclays | 1 | Coors Bypass | 393,409 | 545,506 | 136,873 | 408,633 | T-11 Ann. 09/30/2018 | 493,537 | 138,522 | 355,015 | Fee | ||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 831,813 | 1,141,918 | 272,005 | 869,914 | TTM 07/31/2018 | 1,272,239 | 262,150 | 1,010,089 | 937,205 | 227,850 | 709,355 | 821,167 | 297,857 | 523,310 | Fee | ||||
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 986,295 | 2,478,432 | 1,344,073 | 1,134,359 | T-9 09/30/2018 + 3 Mo. Budget | Fee | |||||||||||||
34 | SMC | 1 | Town and Country Apartments | 693,125 | 1,925,050 | 1,030,360 | 894,690 | TTM 08/31/2018 | 1,814,249 | 1,025,781 | 788,468 | 1,534,627 | 958,983 | 575,644 | 2,269,316 | 1,145,506 | 1,123,810 | Fee | ||||
35 | Barclays | 1 | Hampton Inn - Kimball | 1,036,550 | 2,617,320 | 1,513,534 | 1,103,786 | TTM 06/30/2018 | 2,491,764 | 1,504,326 | 987,438 | 2,376,397 | 1,461,145 | 915,252 | 2,169,017 | 1,379,838 | 789,179 | Fee |
A-1-9
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
HISTORICAL FINANCIALS(18) | ||||||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | U/W Net Cash Flow ($) |
Most Recent Revenues ($) | Most Recent Expenses ($) | Most Recent NOI ($) | As of | 2017 Revenues ($) | 2017 Expenses ($) | 2017 NOI ($) |
2016 Revenues ($) | 2016 Expenses ($) | 2016 NOI ($) |
2015 Revenues ($) | 2015 Expenses ($) | 2015 NOI ($) |
Title Type(19) | Ground Lease Expiration | Ground Lease Extension Terms | Ground Lease Annual Payment | PML % |
36 | CCRE | 1 | College Park | 634,458 | 852,085 | 217,563 | 634,522 | 859,713 | 222,808 | 636,905 | 742,500 | 204,012 | 538,488 | Fee | 8% | |||||||
37 | SMC | 1 | Storage Xxtra Stockbridge | 632,027 | 903,282 | 358,123 | 545,159 | TTM 08/31/2018 | 797,504 | 366,157 | 431,347 | 681,581 | 255,622 | 425,960 | 655,794 | 233,800 | 421,994 | Fee | ||||
38 | Barclays | 1 | Valley Forge Corporate Center | 645,232 | 938,602 | 371,473 | 567,129 | TTM 08/31/2018 | 685,772 | 307,050 | 378,722 | 582,175 | 298,521 | 283,654 | 818,068 | 268,357 | 549,711 | Fee | ||||
39 | Barclays | 1 | CB Square | 533,116 | 501,001 | 332,075 | 168,926 | TTM 06/30/2018 | 494,105 | 330,156 | 163,950 | 539,730 | 290,102 | 249,628 | Fee | |||||||
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 463,460 | 683,083 | 192,381 | 490,702 | TTM 09/30/2018 | 619,209 | 177,846 | 441,363 | 367,465 | 117,926 | 249,539 | Fee | 7% | ||||||
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 685,771 | 2,230,786 | 1,213,243 | 1,017,543 | TTM 09/30/2018 | 1,576,239 | 942,378 | 633,862 | 1,288,144 | 773,574 | 514,570 | 1,316,438 | 793,693 | 522,745 | Fee | ||||
42 | Barclays | 1 | Best Yet Storage - Shed Road | 293,395 | 415,979 | 160,112 | 255,867 | TTM 09/30/2018 | 359,741 | 154,237 | 205,504 | 229,307 | 116,908 | 112,399 | Fee | |||||||
43 | SMC | 1 | Lincoln Commonwealth Center | 403,173 | 501,903 | 91,937 | 409,966 | TTM 07/31/2018 | 495,862 | 91,409 | 404,453 | 450,000 | 112,991 | 337,009 | 431,383 | 109,923 | 321,461 | Fee | 18% | |||
44 | SMC | 1 | Storage Xxtra Raymond Hill | 256,725 | 388,252 | 159,070 | 229,181 | TTM 08/31/2018 | 326,661 | 148,739 | 177,922 | 295,968 | 121,408 | 174,560 | Fee |
A-1-10
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
UPFRONT ESCROWS(20) | ||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Upfront Capex Reserve ($) | Upfront Engineering Reserve ($) | Upfront Environmental Reserve ($) | Upfront TI/LC Reserve ($) | Upfront RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Upfront Debt Service Reserve ($) | Upfront Other Reserve ($) | Other Upfront Description |
1 | KeyBank | 1 | Dream Inn | 710,000 | 0 | 0 | 0 | 149,302 | 0 | 0 | 290,000 | Seasonality Reserve |
2 | Barclays | 1 | Christiana Mall | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,804,093 | Outstanding TI/LC Reserve |
3 | KeyBank | 7 | GNL Portfolio | 0 | 233,500 | 0 | 0 | 0 | 0 | 0 | 0 | |
3.01 | KeyBank | 1 | Nimble Storage | |||||||||
3.02 | KeyBank | 1 | NetScout Systems | |||||||||
3.03 | KeyBank | 1 | Mallinckrodt | |||||||||
3.04 | KeyBank | 1 | PPD Global Labs | |||||||||
3.05 | KeyBank | 1 | PNC Bank | |||||||||
3.06 | KeyBank | 1 | FedEx Ground | |||||||||
3.07 | KeyBank | 1 | Weatherford International | |||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | 0 | 3,125 | 0 | 0 | 89,189 | 18,366 | 0 | 1,348,629 | Unfunded Obligations Reserve: 1,161,769; Free Rent Reserve: 109,603.33; Ground Rent Reserve: 77,257.14 |
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | |||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | |||||||||
5 | SMC | 3 | Fidelis Portfolio | 0 | 0 | 0 | 1,500,000 | 2,477,325 | 107,526 | 0 | 3,664,994 | Existing TI/LC: 3,557,280.43; Rent Concession Reserve: 107,713.91 |
5.01 | SMC | 1 | Victory Lakes Town Center | |||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | |||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | |||||||||
6 | SMC | 1 | Troy Place | 0 | 976,875 | 0 | 1,000,000 | 176,523 | 59,904 | 0 | 488,121 | Rent Concession Reserve: 378,120.75; Existing TI/LC Reserve: 110,000 |
7 | SMC | 1 | West Covina Village | 275,000 | 0 | 0 | 0 | 93,324 | 72,609 | 0 | 0 | |
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 743,070 | PIP Reserve: $423,070; Seasonality Reserve: $320,000 |
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | 0 | 0 | 0 | 0 | 0 | 0 | 177,964 | 123,800 | Collateral Rent Reserve |
10 | Barclays | 1 | Home Depot Technology Center | 0 | 0 | 0 | 0 | 27,577 | 0 | 0 | 1,415,196 | UL LLC Lease Reserve: 1,054,026.64; Rent Abatement Reserve: 361,169.76 |
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | 0 | 0 | 0 | 0 | 326,006 | 0 | 0 | 741,954 | HGI PIP Reserve |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | |||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | |||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 0 | 0 | 0 | 23,914,655 | 1,772,695 | 0 | 0 | 15,021,721 | Rent Concession Reserve |
13 | CCRE | 2 | Shelbourne Global Portfolio II | 0 | 227,250 | 0 | 3,000,000 | 273,402 | 41,067 | 0 | 17,050 | Free Rent Reserve |
13.01 | CCRE | 1 | White Clay Office Park | |||||||||
13.02 | CCRE | 1 | University Office Plaza | |||||||||
14 | SMC | 1 | Zenith Ridge | 0 | 0 | 0 | 0 | 30,949 | 0 | 0 | 2,335,949 | Outstanding TI/LC Reserve: 1,445,533; Rent Concession Reserve: 890,416 |
15 | Barclays | 1 | Dudley Farms Plaza | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
16 | Barclays | 1 | Moffett Towers II - Building 1 | 0 | 0 | 0 | 21,651,588 | 559,294 | 0 | 0 | 5,064,484 | Free Rent Reserve |
17 | SMC | 1 | Round Hill Square | 0 | 218,750 | 0 | 475,000 | 18,537 | 24,868 | 0 | 42,200 | Postal CAM Reserve |
18 | SMC | 6 | TX-OK Portfolio | 0 | 0 | 0 | 0 | 177,185 | 38,143 | 0 | 730,889 | Rent Gap Reserve: 404,320; Outstanding Buildout Reserve: 326,569 |
18.01 | SMC | 1 | NOV | |||||||||
18.02 | SMC | 1 | Cemex | |||||||||
18.03 | SMC | 1 | Telge Park | |||||||||
18.04 | SMC | 1 | Little York Industrial | |||||||||
18.05 | SMC | 1 | South Houston Industrial | |||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | |||||||||
19 | CCRE | 1 | The Shops at Solaris | 0 | 0 | 0 | 0 | 597,966 | 48,724 | 0 | 0 | |
20 | SMC | 1 | Centennial Gateway | 0 | 0 | 0 | 0 | 12,550 | 12,293 | 0 | 545,070 | Sapporo TI Reserve: 187,635; Café Zupas TI Reserve: 164,160; Sapporo Rent Concession Reserve: 123,051.03; Café Zupas Rent Concession Reserve: 70,224 |
21 | SMC | 24 | Pangea 21 | 0 | 0 | 0 | 0 | 121,705 | 48,613 | 0 | 0 | |
21.01 | SMC | 1 | 808 West 76th Street | |||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | |||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | |||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | |||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | |||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | |||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | |||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | |||||||||
21.09 | SMC | 1 | 1514 West 77th Street | |||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | |||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | |||||||||
21.12 | SMC | 1 | 1717 West 77th Street | |||||||||
21.13 | SMC | 1 | 1815 West 77th Street | |||||||||
21.14 | SMC | 1 | 1704 West 77th Street | |||||||||
21.15 | SMC | 1 | 1738 West 77th Street | |||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | |||||||||
21.17 | SMC | 1 | 1735 West 79th Street | |||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | |||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | |||||||||
21.20 | SMC | 1 | 8515 South Green Street | |||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | |||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | |||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | |||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | |||||||||
22 | Barclays | 1 | Westbay Office Park | 0 | 75,844 | 0 | 300,000 | 19,205 | 0 | 0 | 396,820 | Unfunded Obligations Reserve |
23 | Barclays | 1 | One River Place | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,572,730 | Tenant Obligation Reserve |
24 | KeyBank | 1 | Alex Park South | 7,196 | 228,125 | 0 | 1,700,000 | 31,333 | 0 | 0 | 1,308,361 | Windstream Reserve: 1,300,000; Rent Concession Reserve: 8,361 |
25 | CCRE | 3 | RHW Multifamily Portfolio | 0 | 57,323 | 0 | 0 | 45,000 | 37,120 | 0 | 0 | |
25.01 | CCRE | 1 | Heathmoore | |||||||||
25.02 | CCRE | 1 | Roanoke | |||||||||
25.03 | CCRE | 1 | Wentworth | |||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | 0 | 0 | 0 | 0 | 29,845 | 0 | 0 | 0 | |
26.01 | Barclays | 1 | 6301 North Broadway | |||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | |||||||||
27 | Barclays | 1 | Knoxville Crossing | 0 | 0 | 0 | 198,825 | 46,664 | 1,349 | 0 | 0 | |
28 | Barclays | 1 | Bridgeport Center | 0 | 750 | 0 | 500,000 | 191,974 | 0 | 0 | 624,700 | Existing TI/LC Obligations Reserve: 345,833; Rent Concessions Reserve: 278,866.50 |
29 | SMC | 1 | Southern Highlands Corporate Center | 0 | 0 | 0 | 500,000 | 18,127 | 13,000 | 0 | 166,419 | Lightspeed Reserve |
30 | Barclays | 1 | Fair Oaks Mall | 0 | 0 | 0 | 3,954,170 | 0 | 0 | 0 | 1,183,388 | Gap Rent Reserve |
31 | Barclays | 2 | Friedman Portfolio | 0 | 0 | 0 | 0 | 0 | 1,810 | 0 | 1,500 | Specific Item Reserve |
31.01 | Barclays | 1 | Jewel Osco | |||||||||
31.02 | Barclays | 1 | Coors Bypass | |||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 1,946 | 0 | 0 | 100,000 | 0 | 0 | 0 | 60,083 | Future Tenant Reserve |
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 0 | 0 | 0 | 0 | 0 | 5,527 | 0 | 0 | |
34 | SMC | 1 | Town and Country Apartments | 0 | 25,188 | 0 | 0 | 0 | 36,871 | 0 | 50,000 | Parking Repairs Reserve |
35 | Barclays | 1 | Hampton Inn - Kimball | 0 | 0 | 0 | 0 | 48,335 | 0 | 0 | 0 |
A-1-11
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
UPFRONT ESCROWS(20) | ||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Upfront Capex Reserve ($) | Upfront Engineering Reserve ($) | Upfront Environmental Reserve ($) | Upfront TI/LC Reserve ($) | Upfront RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Upfront Debt Service Reserve ($) | Upfront Other Reserve ($) | Other Upfront Description |
36 | CCRE | 1 | College Park | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
37 | SMC | 1 | Storage Xxtra Stockbridge | 0 | 0 | 0 | 0 | 7,193 | 8,622 | 0 | 0 | |
38 | Barclays | 1 | Valley Forge Corporate Center | 0 | 0 | 0 | 0 | 12,365 | 2,241 | 0 | 235,568 | BioScript Rent Abatement Reserve: 106,351.74; NX LLC TI/LC Reserve: 94,189; NX LLC Rent Abatement Reserve: 35,027.11 |
39 | Barclays | 1 | CB Square | 0 | 3,500 | 0 | 400,000 | 7,732 | 2,347 | 0 | 0 | |
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 1,020 | 0 | 0 | 0 | 35,345 | 2,431 | 0 | 0 | |
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 0 | 0 | 0 | 0 | 89,469 | 3,792 | 0 | 972,180 | PIP Reserve |
42 | Barclays | 1 | Best Yet Storage - Shed Road | 0 | 0 | 0 | 0 | 33,473 | 1,288 | 0 | 0 | |
43 | SMC | 1 | Lincoln Commonwealth Center | 0 | 0 | 0 | 100,000 | 40,005 | 4,184 | 0 | 0 | |
44 | SMC | 1 | Storage Xxtra Raymond Hill | 0 | 0 | 0 | 0 | 0 | 6,550 | 0 | 0 |
A-1-12
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
MONTHLY ESCROWS(21) | RESERVE CAPS(22) | ||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Monthly Capex Reserve ($) |
Monthly Environmental Reserve ($) | Monthly TI/LC Reserve ($) | Monthly RE Tax Reserve ($) |
Monthly Insurance Reserve ($) | Monthly Other Reserve ($) | Other Monthly Description | CapEx Reserve Cap ($) |
Environmental Reserve Cap ($) | TI/LC Reserve Cap ($) | RE Tax Reserve Cap ($) | Insurance Reserve Cap ($) | Debt Service Reserve Cap ($) | Other Reserve Cap ($) | Single Tenant | |
1 | KeyBank | 1 | Dream Inn | 4% of Gross Room Revenues | 0 | 0 | 47,453 | Springing | Springing | Seasonality Reserve | 290,000 | No | |||||||
2 | Barclays | 1 | Christiana Mall | Springing | 0 | Springing | Springing | Springing | 0 | 241,565 | 1,449,387 | No | |||||||
3 | KeyBank | 7 | GNL Portfolio | Springing | 0 | Springing | Springing | Springing | 0 | 5,000,000 | Yes | ||||||||
3.01 | KeyBank | 1 | Nimble Storage | Yes | |||||||||||||||
3.02 | KeyBank | 1 | NetScout Systems | Yes | |||||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | Yes | |||||||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | Yes | |||||||||||||||
3.05 | KeyBank | 1 | PNC Bank | Yes | |||||||||||||||
3.06 | KeyBank | 1 | FedEx Ground | Yes | |||||||||||||||
3.07 | KeyBank | 1 | Weatherford International | Yes | |||||||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | 13,429 | 0 | 0 | 44,594 | 9,183 | 77,257 | Ground Rent Reserve | Various | ||||||||
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | No | |||||||||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | Yes | |||||||||||||||
5 | SMC | 3 | Fidelis Portfolio | 11,071 | 0 | Springing | 225,211 | 18,419 | 0 | 1,500,000 | No | ||||||||
5.01 | SMC | 1 | Victory Lakes Town Center | No | |||||||||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | No | |||||||||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | No | |||||||||||||||
6 | SMC | 1 | Troy Place | 18,921 | 0 | 63,071 | 44,021 | 8,558 | 0 | 2,500,000 | No | ||||||||
7 | SMC | 1 | West Covina Village | 3,667 | 0 | 41,250 | 46,662 | 6,601 | 0 | 1,500,000 | No | ||||||||
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | 4% of Gross Revenues | 0 | 0 | Springing | Springing | Springing | Seasonality Reserve | 320,000 | No | |||||||
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | Springing | 0 | 0 | Springing | Springing | Springing | Ground Rent Reserve | No | ||||||||
10 | Barclays | 1 | Home Depot Technology Center | Springing | 0 | 0 | 27,577 | Springing | 0 | No | |||||||||
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | 5% of Gross Revenues | 0 | 0 | 81,502 | 28,642 | Springing | Parking and Retail Lease Reserve | 3,755,852 | No | |||||||
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | No | |||||||||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | No | |||||||||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | 11,277 | 0 | 0 | 253,242 | Springing | Springing | Lease Sweep Reserve | 23,680,930 | 20,297,940 | Yes | ||||||
13 | CCRE | 2 | Shelbourne Global Portfolio II | 8,060 | 0 | Springing | 91,134 | 9,676 | 0 | 2,500,000 | No | ||||||||
13.01 | CCRE | 1 | White Clay Office Park | No | |||||||||||||||
13.02 | CCRE | 1 | University Office Plaza | No | |||||||||||||||
14 | SMC | 1 | Zenith Ridge | 6,075 | 0 | 60,750 | 54,461 | Springing | 0 | No | |||||||||
15 | Barclays | 1 | Dudley Farms Plaza | Springing | 0 | Springing | Springing | Springing | 0 | 850,000 | No | ||||||||
16 | Barclays | 1 | Moffett Towers II - Building 1 | 0 | 0 | 0 | 111,859 | Springing | 0 | Yes | |||||||||
17 | SMC | 1 | Round Hill Square | 1,933 | 0 | Springing | 9,268 | 2,763 | Springing | Major Tenant Reserve | 100,000 | 475,000 | No | ||||||
18 | SMC | 6 | TX-OK Portfolio | 4,862 | 0 | 6,667 | 24,381 | 5,655 | 0 | Various | |||||||||
18.01 | SMC | 1 | NOV | Yes | |||||||||||||||
18.02 | SMC | 1 | Cemex | Yes | |||||||||||||||
18.03 | SMC | 1 | Telge Park | No | |||||||||||||||
18.04 | SMC | 1 | Little York Industrial | No | |||||||||||||||
18.05 | SMC | 1 | South Houston Industrial | No | |||||||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | Yes | |||||||||||||||
19 | CCRE | 1 | The Shops at Solaris | 883 | 0 | 0 | 74,746 | 8,121 | 0 | No | |||||||||
20 | SMC | 1 | Centennial Gateway | 1,722 | 0 | 6,260 | 6,275 | 2,459 | 0 | No | |||||||||
21 | SMC | 24 | Pangea 21 | 8,750 | 0 | 0 | 30,426 | 6,945 | 0 | 315,000 | No | ||||||||
21.01 | SMC | 1 | 808 West 76th Street | No | |||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | No | |||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | No | |||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | No | |||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | No | |||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | No | |||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | No | |||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | No | |||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | No | |||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | No | |||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | No | |||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | No | |||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | No | |||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | No | |||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | No | |||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | No | |||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | No | |||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | No | |||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | No | |||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | No | |||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | No | |||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | No | |||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | No | |||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | No | |||||||||||||||
22 | Barclays | 1 | Westbay Office Park | 1,799 | 0 | 13,491 | 6,402 | Springing | 0 | 728,534 | No | ||||||||
23 | Barclays | 1 | One River Place | Springing | 0 | Springing | Springing | Springing | 0 | Yes | |||||||||
24 | KeyBank | 1 | Alex Park South | 7,196 | 0 | 51,749 | 4,476 | Springing | 0 | 5,000,000 | No | ||||||||
25 | CCRE | 3 | RHW Multifamily Portfolio | 6,825 | 0 | 0 | 20,000 | 7,424 | 0 | No | |||||||||
25.01 | CCRE | 1 | Heathmoore | No | |||||||||||||||
25.02 | CCRE | 1 | Roanoke | No | |||||||||||||||
25.03 | CCRE | 1 | Wentworth | No | |||||||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | 4,266 | 0 | 12,797 | 14,922 | Springing | 0 | 460,697 | Various | ||||||||
26.01 | Barclays | 1 | 6301 North Broadway | No | |||||||||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | Yes | |||||||||||||||
27 | Barclays | 1 | Knoxville Crossing | 1,065 | 0 | 4,969 | 11,666 | 1,349 | 0 | 120,000 | No | ||||||||
28 | Barclays | 1 | Bridgeport Center | 1,494 | 0 | Springing | 17,452 | Springing | 0 | 450,000 | No | ||||||||
29 | SMC | 1 | Southern Highlands Corporate Center | 1,259 | 0 | 8,583 | 9,407 | 1,750 | 0 | 75,000 | 600,000 | No | |||||||
30 | Barclays | 1 | Fair Oaks Mall | Springing | 0 | Springing | Springing | Springing | Springing | Owned Anchor Reserve: Springing; Owned Anchor Termination Reserve: Springing | 434,772 | 4,094,748 | Owned Anchor Reserve: 2,150,000 | No | |||||
31 | Barclays | 2 | Friedman Portfolio | 0 | 0 | 0 | 3,999 | 1,810 | 0 | Various | |||||||||
31.01 | Barclays | 1 | Jewel Osco | Yes | |||||||||||||||
31.02 | Barclays | 1 | Coors Bypass | No | |||||||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | 1,946 | 0 | 5,351 | 7,366 | Springing | 0 | 70,055 | 192,652 | No | |||||||
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | 2% of Gross Revenues | 0 | 0 | 5,404 | 1,842 | 0 | No | |||||||||
34 | SMC | 1 | Town and Country Apartments | 6,881 | 0 | 0 | 7,549 | 14,744 | 0 | No | |||||||||
35 | Barclays | 1 | Hampton Inn - Kimball | 4% of Gross Revenues | 0 | 0 | 4,394 | Springing | 0 | No |
A-1-13
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
MONTHLY ESCROWS(21) | RESERVE CAPS(22) | ||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Monthly Capex Reserve ($) |
Monthly Environmental Reserve ($) | Monthly TI/LC Reserve ($) | Monthly RE Tax Reserve ($) |
Monthly Insurance Reserve ($) | Monthly Other Reserve ($) | Other Monthly Description | CapEx Reserve Cap ($) |
Environmental Reserve Cap ($) | TI/LC Reserve Cap ($) | RE Tax Reserve Cap ($) | Insurance Reserve Cap ($) | Debt Service Reserve Cap ($) | Other Reserve Cap ($) | Single Tenant | |
36 | CCRE | 1 | College Park | 557 | 0 | 2,533 | Springing | Springing | Springing | Key Tenant Rollover Reserve | 91,500 | No | |||||||
37 | SMC | 1 | Storage Xxtra Stockbridge | 759 | 0 | 0 | 7,193 | 958 | 0 | 50,000 | No | ||||||||
38 | Barclays | 1 | Valley Forge Corporate Center | 523 | 0 | 5,230 | 9,463 | 1,121 | 0 | 251,028 | No | ||||||||
39 | Barclays | 1 | CB Square | 914 | 0 | Springing | 7,732 | 2,347 | Springing | Cash Sweep Cure Reserve: Springing | 300,000 | No | |||||||
40 | KeyBank | 1 | US Storage Centers - Bakersfield | 1,020 | 0 | 0 | 5,049 | 810 | 0 | 36,734 | No | ||||||||
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | 4% of Gross Revenues | 0 | 0 | 8,134 | 3,792 | 0 | No | |||||||||
42 | Barclays | 1 | Best Yet Storage - Shed Road | Springing | 0 | 0 | 2,789 | 644 | 0 | No | |||||||||
43 | SMC | 1 | Lincoln Commonwealth Center | 345 | 0 | Springing | Springing | 482 | 0 | 30,000 | 100,000 | No | |||||||
44 | SMC | 1 | Storage Xxtra Raymond Hill | 491 | 0 | 0 | 2,370 | 728 | 0 | 50,000 | No |
A-1-14
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
TENANCY INFORMATION(23)(24)(25) | |||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Largest Tenant | Unit Size | Lease Expiration | Second Largest Tenant | Unit Size | Lease Expiration | Third Largest Tenant | Unit Size | Lease Expiration | Fourth Largest Tenant | Unit Size | Lease Expiration | Fifth Largest Tenant | Unit Size | Lease Expiration | Loan Purpose |
1 | KeyBank | 1 | Dream Inn | Refinance | |||||||||||||||
2 | Barclays | 1 | Christiana Mall | Target | 145,312 | 12/31/2036 | Cabela’s | 100,000 | 01/31/2035 | Cinemark | 50,643 | 11/30/2029 | Barnes & Noble | 36,803 | 01/31/2020 | XXI Forever | 27,300 | 01/31/2020 | Refinance |
3 | KeyBank | 7 | GNL Portfolio | Refinance | |||||||||||||||
3.01 | KeyBank | 1 | Nimble Storage | Nimble Storage | 164,608 | 10/31/2021 | |||||||||||||
3.02 | KeyBank | 1 | NetScout Systems | NetScout Systems | 144,779 | 08/31/2030 | |||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | Mallinckrodt Pharmaceuticals | 89,900 | 08/31/2024 | |||||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | PPD Global Labs | 73,220 | 12/31/2024 | |||||||||||||
3.05 | KeyBank | 1 | PNC Bank | PNC Bank | 97,203 | 07/31/2029 | |||||||||||||
3.06 | KeyBank | 1 | FedEx Ground | FedEx Ground | 58,148 | 06/30/2026 | |||||||||||||
3.07 | KeyBank | 1 | Weatherford International | Weatherford International | 19,855 | 11/01/2025 | |||||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | Acquisition | |||||||||||||||
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | Centene Management Company, LLC | 352,988 | 01/31/2028 | DHL Express (USA), Inc. | 117,593 | 02/28/2023 | WageWorks, Inc. | 76,162 | 12/31/2021 | Carvana, LLC | 69,774 | 02/29/2024 | DriveTime Automotive Group, Inc. | 65,889 | 02/29/2024 | |
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | The Vanguard Group, Inc. | 123,340 | 07/31/2026 | |||||||||||||
5 | SMC | 3 | Fidelis Portfolio | Acquisition | |||||||||||||||
5.01 | SMC | 1 | Victory Lakes Town Center | JC Penney | 103,525 | 09/30/2033 | University of Texas Medical Branch | 87,615 | 08/30/2028 | Hobby Lobby | 55,000 | 04/30/2024 | Best Buy | 30,038 | 01/31/2023 | Goodwill | 18,055 | 12/31/2020 | |
5.02 | SMC | 1 | McKinney Towne Crossing | Patel Brothers | 30,000 | 07/31/2028 | Ross Dress for Less | 27,689 | 01/31/2024 | Petsmart | 27,404 | 07/31/2023 | Dollar Tree | 11,985 | 06/30/2028 | Famous Footwear | 7,000 | 01/31/2020 | |
5.03 | SMC | 1 | Riverstone Shopping Center | Hobby Lobby | 60,971 | 10/31/2021 | LA Fitness | 45,000 | 12/31/2020 | Ross Dress for Less | 30,174 | 01/31/2021 | Palais Royal | 30,000 | 01/31/2021 | Bed Bath & Beyond | 28,000 | 01/31/2021 | |
6 | SMC | 1 | Troy Place | GP Strategies Corporation | 41,566 | 06/30/2027 | Marsh & McLennan Agency LLC | 23,483 | 10/31/2020 | ThyssenKrupp Presta North America | 23,260 | 03/31/2020 | Kelley Blue Book Co., Inc. | 22,742 | 03/31/2024 | Dynamic Acquisition Co., LLC | 19,722 | 08/31/2024 | Refinance |
7 | SMC | 1 | West Covina Village | Stater Bros. | 35,232 | 12/10/2021 | United Education Institute | 34,603 | 01/31/2028 | LA Fitness | 28,300 | 11/30/2026 | Dollar Tree | 10,234 | 03/31/2022 | Turner’s Outdoorsman | 9,425 | 12/31/2028 | Refinance |
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | Acquisition | |||||||||||||||
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | Refinance | |||||||||||||||
10 | Barclays | 1 | Home Depot Technology Center | Home Depot | 310,669 | 07/31/2029 | Underwriters Laboratories, LLC | 36,829 | 08/31/2029 | Acquisition | |||||||||
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | Acquisition | |||||||||||||||
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | ||||||||||||||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | ||||||||||||||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | Amazon | 676,598 | 06/30/2030 | Refinance | ||||||||||||
13 | CCRE | 2 | Shelbourne Global Portfolio II | Refinance | |||||||||||||||
13.01 | CCRE | 1 | White Clay Office Park | Chase Bank USA | 190,492 | 07/31/2023 | Sardo & Sons Warehousing | 125,000 | 04/30/2021 | Citigroup | 88,471 | 03/31/2022 | First Data Corporation | 46,458 | 08/31/2022 | Walgreens Eastern Co, Inc. | 14,000 | 07/31/2020 | |
13.02 | CCRE | 1 | University Office Plaza | The State of DE - DAS | 24,803 | 12/31/2019 | State of DE Department of H&SS | 24,285 | 08/31/2028 | Department of Health & SS | 10,557 | 06/30/2025 | DE Sleep Disorder Centers | 6,485 | 12/31/2024 | Substation Engineering Co | 6,101 | 02/28/2019 | |
14 | SMC | 1 | Zenith Ridge | Ansys, Inc. | 216,971 | 12/31/2029 | EQT Corp. | 180,908 | 01/31/2031 | Nicholson Construction Company | 17,342 | 01/31/2026 | Regus | 13,814 | 01/31/2025 | Sentric Holdings Corp. | 13,334 | 09/30/2021 | Refinance |
15 | Barclays | 1 | Dudley Farms Plaza | Kohl’s | 86,584 | 01/31/2024 | OfficeMax | 23,500 | 09/30/2023 | Michaels | 23,285 | 02/28/2027 | Books-A-Million | 20,000 | 01/21/2024 | Shoe Carnival | 20,000 | 01/31/2022 | Refinance |
16 | Barclays | 1 | Moffett Towers II - Building 1 | Amazon | 350,633 | 04/30/2028 | Recapitalization | ||||||||||||
17 | SMC | 1 | Round Hill Square | Safeway | 39,398 | 12/31/2022 | Barton Healthcare | 13,384 | 06/30/2023 | US Post Office | 13,232 | 08/31/2020 | Dollar Tree | 9,771 | 07/31/2019 | Worldmark by Wyndham | 5,240 | 12/31/2022 | Acquisition |
18 | SMC | 6 | TX-OK Portfolio | Acquisition | |||||||||||||||
18.01 | SMC | 1 | NOV | National Oilwell Varco | 48,400 | 06/30/2029 | |||||||||||||
18.02 | SMC | 1 | Cemex | Cemex | 21,405 | 10/31/2025 | |||||||||||||
18.03 | SMC | 1 | Telge Park | UNDINE LLC | 15,000 | 02/28/2026 | IBSCO | 10,200 | 01/31/2026 | Travis Roofing Supply | 10,000 | 01/31/2024 | Silver Ridge Security | 6,000 | 02/28/2024 | ||||
18.04 | SMC | 1 | Little York Industrial | Gulf Coast Conversions | 27,876 | 08/31/2019 | APS Building Services | 22,851 | 03/31/2022 | ||||||||||
18.05 | SMC | 1 | South Houston Industrial | Deutsche Windtechnik | 11,200 | 02/28/2024 | DANOBAT Group | 8,000 | 02/28/2024 | ||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | Chaparral Insulation | 12,000 | 11/30/2022 | |||||||||||||
19 | CCRE | 1 | The Shops at Solaris | Bol | 13,368 | 09/30/2033 | Cinebistro (theater) | 12,595 | 10/31/2030 | Matsuhisa Vail | 6,604 | 12/31/2021 | Inspirato | 2,640 | 08/30/2022 | Betteridge Jewelers | 2,505 | 06/30/2020 | Refinance |
20 | SMC | 1 | Centennial Gateway | Total Wine | 35,076 | 12/31/2025 | DownEast | 19,981 | 09/04/2026 | Mrs. Patio | 8,400 | 02/28/2026 | Bourbon Street Sports Bar | 6,972 | 07/31/2026 | Deseret Books | 6,000 | 03/31/2023 | Acquisition |
21 | SMC | 24 | Pangea 21 | Refinance | |||||||||||||||
21.01 | SMC | 1 | 808 West 76th Street | ||||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | ||||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | ||||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | ||||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | ||||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | ||||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | ||||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | ||||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | ||||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | ||||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | ||||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | ||||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | ||||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | ||||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | ||||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | ||||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | ||||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | ||||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | ||||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | ||||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | ||||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | ||||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | ||||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | ||||||||||||||||
22 | Barclays | 1 | Westbay Office Park | University of Nevada, Las Vegas, School of Medicine | 30,297 | 08/31/2023 | Department of Employment | 21,335 | 01/31/2026 | Stantec Consulting Services | 13,446 | 07/31/2023 | Interdent Service Corporation | 6,751 | 08/31/2023 | Department of Transportation | 6,350 | 09/30/2020 | Acquisition |
23 | Barclays | 1 | One River Place | AAA Club Alliance Inc. | 157,273 | 06/30/2035 | Refinance | ||||||||||||
24 | KeyBank | 1 | Alex Park South | Rochester General Hospital | 117,578 | 06/30/2022 | MVP Health Care, Inc. | 116,676 | 05/31/2028 | Windstream Communications | 72,796 | 09/30/2022 | IMA Disability Services | 4,839 | 02/28/2022 | Alexander Medical Group | 4,684 | 11/30/2021 | Refinance |
25 | CCRE | 3 | RHW Multifamily Portfolio | Acquisition | |||||||||||||||
25.01 | CCRE | 1 | Heathmoore | ||||||||||||||||
25.02 | CCRE | 1 | Roanoke | ||||||||||||||||
25.03 | CCRE | 1 | Wentworth | ||||||||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | Refinance | |||||||||||||||
26.01 | Barclays | 1 | 6301 North Broadway | Luxco | 206,896 | 01/31/2022 | Suburban Industrial Packaging | 90,000 | 09/30/2022 | Eagle Alcohol | 55,034 | 01/31/2020 | Semco Plastic | 29,144 | 04/30/2019 | Ronnoco | 27,887 | 07/30/2020 | |
26.02 | Barclays | 1 | 7714 Commercial Drive | Ozburn-Hessey | 95,480 | 06/30/2021 | |||||||||||||
27 | Barclays | 1 | Knoxville Crossing | Schnucks | 68,308 | 12/31/2036 | OSF Medical | 3,225 | 07/31/2028 | Potbelly | 2,400 | 02/28/2027 | Verizon Wireless | 2,400 | 05/31/2022 | Dominos | 1,800 | 11/30/2022 | Acquisition |
28 | Barclays | 1 | Bridgeport Center | Allstate Insurance Company | 42,569 | 09/30/2022 | Hi-Tec Sports USA | 8,123 | 07/31/2020 | Davidson Benefits Planning, LLC | 5,925 | 02/28/2019 | Northwest Hospice, LLC | 5,205 | 12/15/2023 | Banner Bank | 4,785 | 07/31/2023 | Refinance |
29 | SMC | 1 | Southern Highlands Corporate Center | Lightspeed VT (Desert Sales Academy) | 27,217 | 01/01/2021 | Olympia Land Corporation | 14,840 | 09/30/2032 | Olympia Management Services, L.L.C. | 7,300 | 09/30/2032 | Delta Insurance Agency | 2,540 | 12/31/2018 | Blue Air Training, LLC | 2,458 | 07/31/2021 | Refinance |
30 | Barclays | 1 | Fair Oaks Mall | Macy’s | 215,000 | 02/01/2026 | XXI Forever | 51,317 | 01/31/2022 | H&M | 20,265 | 01/31/2029 | Express | 12,278 | 01/31/2024 | Victoria’s Secret | 12,170 | 01/31/2026 | Refinance |
31 | Barclays | 2 | Friedman Portfolio | Acquisition | |||||||||||||||
31.01 | Barclays | 1 | Jewel Osco | Jewel Osco | 61,477 | 10/31/2037 | |||||||||||||
31.02 | Barclays | 1 | Coors Bypass | HomeGoods | 21,696 | 10/31/2026 | Tuesday Morning | 12,023 | 01/31/2027 | ||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | JumpStreet | 34,236 | 03/31/2022 | Planet Fitness | 24,862 | 01/31/2024 | Bargain Hunt (Essex) | 23,500 | 06/14/2026 | Hook 1 | 10,000 | 03/11/2024 | Murfreesboro Farmers | 8,160 | 01/31/2022 | Refinance |
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | Refinance | |||||||||||||||
34 | SMC | 1 | Town and Country Apartments | Refinance | |||||||||||||||
35 | Barclays | 1 | Hampton Inn - Kimball | Refinance |
A-1-15
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
TENANCY INFORMATION(23)(24)(25) | |||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Largest Tenant | Unit Size | Lease Expiration | Second Largest Tenant | Unit Size | Lease Expiration | Third Largest Tenant | Unit Size | Lease Expiration | Fourth Largest Tenant | Unit Size | Lease Expiration | Fifth Largest Tenant | Unit Size | Lease Expiration | Loan Purpose |
36 | CCRE | 1 | College Park | Legends Burgers | 4,274 | 11/04/2019 | Keller Williams Foothill | 3,790 | 10/31/2022 | Juancho’s Mexican Restaurant | 3,275 | 05/31/2025 | Nuno’s Bistro | 3,169 | 03/31/2024 | Noodle World Jr. | 2,125 | 04/14/2024 | Refinance |
37 | SMC | 1 | Storage Xxtra Stockbridge | Acquisition | |||||||||||||||
38 | Barclays | 1 | Valley Forge Corporate Center | BioScrip, Inc. | 17,037 | 04/30/2025 | Chartwell Law Offices | 16,592 | 10/31/2023 | NX Utilities, LLC | 13,203 | 06/30/2022 | Bald Birds Brewing Company | 7,500 | 02/29/2028 | Qualtek USA, LLC | 4,995 | 09/17/2020 | Acquisition |
39 | Barclays | 1 | CB Square | Ashley HomeStore Outlet | 33,444 | 07/19/2023 | Aldi | 20,316 | 06/30/2028 | Mattress Firm | 6,000 | 10/31/2022 | Panera Bread | 4,950 | 12/31/2019 | Moe’s Southwest Grill | 2,475 | 12/31/2019 | Acquisition |
40 | KeyBank | 1 | US Storage Centers - Bakersfield | Refinance | |||||||||||||||
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | Refinance | |||||||||||||||
42 | Barclays | 1 | Best Yet Storage - Shed Road | Refinance | |||||||||||||||
43 | SMC | 1 | Lincoln Commonwealth Center | California Alternative Caregivers | 2,653 | 01/01/2023 | H&R Block | 1,064 | 04/30/2021 | Dr. Rudy Patel | 1,064 | 04/30/2020 | Cartridge Center | 1,026 | 04/30/2020 | Kevin Kunkel | 915 | MTM | Refinance |
44 | SMC | 1 | Storage Xxtra Raymond Hill | Recapitalization |
A-1-16
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
HOTEL OPERATING STATISTICS | ||||||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Principal/Carveout Guarantor | Related Borrower(26) | Lockbox (Y/N) | Lockbox Type(27) | UW Occupancy (%) |
UW ADR ($) | UW RevPAR ($) | Most Recent Occupancy (%) | Most Recent ADR ($) | Most Recent RevPAR ($) | 2017 Occupancy (%) | 2017 ADR ($) | 2017 RevPAR ($) | 2016 Occupancy (%) | 2016 ADR ($) | 2016 RevPAR ($) | 2015 Occupancy (%) | 2015 ADR ($) | 2015 RevPAR ($) |
1 | KeyBank | 1 | Dream Inn | Ensemble Investments, LLC | No | Yes | Hard | 83.3% | 307.76 | 256.24 | 83.3% | 307.76 | 256.24 | 74.0% | 294.80 | 218.12 | 71.5% | 285.30 | 204.11 | 77.9% | 282.79 | 220.35 |
2 | Barclays | 1 | Christiana Mall | GGP Nimbus, LP, PPF Retail, LLC | No | Yes | Hard | |||||||||||||||
3 | KeyBank | 7 | GNL Portfolio | Global Net Lease Operating Partnership, L.P. | No | Yes | Hard | |||||||||||||||
3.01 | KeyBank | 1 | Nimble Storage | |||||||||||||||||||
3.02 | KeyBank | 1 | NetScout Systems | |||||||||||||||||||
3.03 | KeyBank | 1 | Mallinckrodt | |||||||||||||||||||
3.04 | KeyBank | 1 | PPD Global Labs | |||||||||||||||||||
3.05 | KeyBank | 1 | PNC Bank | |||||||||||||||||||
3.06 | KeyBank | 1 | FedEx Ground | |||||||||||||||||||
3.07 | KeyBank | 1 | Weatherford International | |||||||||||||||||||
4 | Barclays/CCRE | 2 | Liberty Portfolio | H25A, LLC | No | Yes | Hard | |||||||||||||||
4.01 | Barclays/CCRE | 1 | Liberty Center at Rio Salado | |||||||||||||||||||
4.02 | Barclays/CCRE | 1 | 8501 East Raintree Drive | |||||||||||||||||||
5 | SMC | 3 | Fidelis Portfolio | Alan Hassenflu | No | Yes | Springing | |||||||||||||||
5.01 | SMC | 1 | Victory Lakes Town Center | |||||||||||||||||||
5.02 | SMC | 1 | McKinney Towne Crossing | |||||||||||||||||||
5.03 | SMC | 1 | Riverstone Shopping Center | |||||||||||||||||||
6 | SMC | 1 | Troy Place | Larry M. Nemer | No | Yes | Springing | |||||||||||||||
7 | SMC | 1 | West Covina Village | Tarek Alhassen, Dighton America Inc. | No | Yes | Springing | |||||||||||||||
8 | CCRE | 1 | AVR Embassy Suites Fort Worth | Allan V. Rose | No | Yes | Hard | 84.0% | 194.25 | 163.17 | 82.4% | 178.50 | 147.12 | 84.2% | 184.05 | 154.95 | 85.5% | 187.33 | 160.24 | 86.1% | 183.07 | 157.68 |
9 | SMC | 1 | Residence Inn by Marriott Phoenix Desert View at Mayo Clinic | Robert I. Finvarb | No | Yes | Soft | 73.0% | 160.73 | 117.26 | 73.0% | 160.73 | 117.26 | 73.4% | 158.63 | 116.49 | 68.9% | 156.50 | 107.78 | 67.3% | 155.64 | 104.78 |
10 | Barclays | 1 | Home Depot Technology Center | Jordan Phillips, Michael Meyer | No | Yes | Hard | |||||||||||||||
11 | Barclays | 2 | Virginia Beach Hotel Portfolio | Neil P. Amin, Jay B. Shah | No | Yes | Springing | 73.1% | 206.21 | 150.44 | 76.0% | 206.21 | 156.51 | 76.8% | 204.58 | 155.44 | 75.5% | 206.83 | 147.45 | 71.5% | 206.24 | 147.45 |
11.01 | Barclays | 1 | Hilton Virginia Beach Oceanfront | 71.1% | 214.32 | 152.33 | 75.7% | 214.32 | 162.27 | 76.1% | 211.68 | 158.67 | 74.0% | 215.32 | 154.34 | 72.0% | 214.47 | 154.34 | ||||
11.02 | Barclays | 1 | Hilton Garden Inn Virginia Beach Oceanfront | 76.6% | 192.19 | 147.16 | 76.6% | 192.19 | 147.16 | 77.9% | 192.30 | 149.83 | 77.9% | 192.15 | 135.54 | 70.6% | 191.99 | 135.54 | ||||
12 | CCRE | 1 | Moffett Towers - Buildings E,F,G | Paul Guarantor LLC | Yes - Group 1 | Yes | Hard | |||||||||||||||
13 | CCRE | 2 | Shelbourne Global Portfolio II | Barry Friedman, Benjamin Schlossberg | No | Yes | Soft | |||||||||||||||
13.01 | CCRE | 1 | White Clay Office Park | |||||||||||||||||||
13.02 | CCRE | 1 | University Office Plaza | |||||||||||||||||||
14 | SMC | 1 | Zenith Ridge | James D. Scalo, John F. Scalo, Charles R. Zappala, John J. Verbanac | No | Yes | Hard | |||||||||||||||
15 | Barclays | 1 | Dudley Farms Plaza | E. Stanley Kroenke | No | Yes | Springing | |||||||||||||||
16 | Barclays | 1 | Moffett Towers II - Building 1 | Paul Guarantor LLC | Yes - Group 1 | Yes | Hard | |||||||||||||||
17 | SMC | 1 | Round Hill Square | Alan Scott Mann, Randall L. Fleisher | No | Yes | Springing | |||||||||||||||
18 | SMC | 6 | TX-OK Portfolio | Mauricio Alberto Benavides, Jr. | No | Yes | Hard | |||||||||||||||
18.01 | SMC | 1 | NOV | |||||||||||||||||||
18.02 | SMC | 1 | Cemex | |||||||||||||||||||
18.03 | SMC | 1 | Telge Park | |||||||||||||||||||
18.04 | SMC | 1 | Little York Industrial | |||||||||||||||||||
18.05 | SMC | 1 | South Houston Industrial | |||||||||||||||||||
18.06 | SMC | 1 | Logistics Park at World Houston | |||||||||||||||||||
19 | CCRE | 1 | The Shops at Solaris | Peter B. Knobel, Patrice Knobel | No | Yes | Hard | |||||||||||||||
20 | SMC | 1 | Centennial Gateway | Kurt E. O’Brien | No | Yes | Springing | |||||||||||||||
21 | SMC | 24 | Pangea 21 | Pangea Equity Partners, L.P. | No | No | None | |||||||||||||||
21.01 | SMC | 1 | 808 West 76th Street | |||||||||||||||||||
21.02 | SMC | 1 | 6000 South Prairie Avenue | |||||||||||||||||||
21.03 | SMC | 1 | 9244 South Saginaw Avenue | |||||||||||||||||||
21.04 | SMC | 1 | 4853 South Prairie Avenue | |||||||||||||||||||
21.05 | SMC | 1 | 7348 South Dr. Martin Luther King Jr. Drive | |||||||||||||||||||
21.06 | SMC | 1 | 7944 South Paulina Street | |||||||||||||||||||
21.07 | SMC | 1 | 7801 South Saginaw Avenue | |||||||||||||||||||
21.08 | SMC | 1 | 8200 South Ingleside Avenue | |||||||||||||||||||
21.09 | SMC | 1 | 1514 West 77th Street | |||||||||||||||||||
21.10 | SMC | 1 | 8000 South Drexel Avenue | |||||||||||||||||||
21.11 | SMC | 1 | 8001 South Marshfield Avenue | |||||||||||||||||||
21.12 | SMC | 1 | 1717 West 77th Street | |||||||||||||||||||
21.13 | SMC | 1 | 1815 West 77th Street | |||||||||||||||||||
21.14 | SMC | 1 | 1704 West 77th Street | |||||||||||||||||||
21.15 | SMC | 1 | 1738 West 77th Street | |||||||||||||||||||
21.16 | SMC | 1 | 8231 South Ellis Avenue | |||||||||||||||||||
21.17 | SMC | 1 | 1735 West 79th Street | |||||||||||||||||||
21.18 | SMC | 1 | 1448 West 83rd Street | |||||||||||||||||||
21.19 | SMC | 1 | 8155 South Maryland Avenue | |||||||||||||||||||
21.20 | SMC | 1 | 8515 South Green Street | |||||||||||||||||||
21.21 | SMC | 1 | 8001 South Carpenter Street | |||||||||||||||||||
21.22 | SMC | 1 | 7914 South Kingston Avenue | |||||||||||||||||||
21.23 | SMC | 1 | 8255 South Maryland Avenue | |||||||||||||||||||
21.24 | SMC | 1 | 8514 South Crandon Avenue | |||||||||||||||||||
22 | Barclays | 1 | Westbay Office Park | Krausz Puente LLC, Michael B. Werner, Benjamin F. Garfinkle | No | Yes | Springing | |||||||||||||||
23 | Barclays | 1 | One River Place | Brock J. Vinton | No | Yes | Hard | |||||||||||||||
24 | KeyBank | 1 | Alex Park South | Estate of Laurence C. Glazer | No | Yes | Hard | |||||||||||||||
25 | CCRE | 3 | RHW Multifamily Portfolio | Arbor Realty SR, Inc. | No | Yes | Soft | |||||||||||||||
25.01 | CCRE | 1 | Heathmoore | |||||||||||||||||||
25.02 | CCRE | 1 | Roanoke | |||||||||||||||||||
25.03 | CCRE | 1 | Wentworth | |||||||||||||||||||
26 | Barclays | 2 | Hostess Industrial Portfolio | Mark Cusumano, John V. Cusumano, Jr. | No | Yes | Hard | |||||||||||||||
26.01 | Barclays | 1 | 6301 North Broadway | |||||||||||||||||||
26.02 | Barclays | 1 | 7714 Commercial Drive | |||||||||||||||||||
27 | Barclays | 1 | Knoxville Crossing | Boe L. Strange, William B. Manning | No | Yes | Hard | |||||||||||||||
28 | Barclays | 1 | Bridgeport Center | William D. Felton | No | Yes | Springing | |||||||||||||||
29 | SMC | 1 | Southern Highlands Corporate Center | Garry V. Goett, Guy Inzalaco | No | Yes | Springing | |||||||||||||||
30 | Barclays | 1 | Fair Oaks Mall | The Taubman Realty Group Limited Partnership | No | Yes | Hard | |||||||||||||||
31 | Barclays | 2 | Friedman Portfolio | David B. Friedman | No | Yes | Springing | |||||||||||||||
31.01 | Barclays | 1 | Jewel Osco | |||||||||||||||||||
31.02 | Barclays | 1 | Coors Bypass | |||||||||||||||||||
32 | KeyBank | 1 | Marketplace Center at Murfreesboro | PMAT Real Estate Investments, L.L.C. | No | Yes | Springing | |||||||||||||||
33 | SMC | 1 | Fairfield Inn & Suites Hendersonville Flat Rock | Satis D. Patel | No | Yes | Springing | 64.0% | 122.76 | 78.57 | 64.8% | 122.67 | 79.49 | |||||||||
34 | SMC | 1 | Town and Country Apartments | Mickel D. Husted, Robert W. Coons | No | Yes | Springing | |||||||||||||||
35 | Barclays | 1 | Hampton Inn - Kimball | Danish K. Patel, Deep Govan | No | Yes | Springing | 80.8% | 110.09 | 88.92 | 80.8% | 110.09 | 88.92 | 78.1% | 108.22 | 84.56 | 74.3% | 108.05 | 73.58 | 71.4% | 103.12 | 73.58 |
A-1-17
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
HOTEL OPERATING STATISTICS | ||||||||||||||||||||||
Mortgage Loan Number | Mortgage Loan Seller(1) |
# of Properties | Property Name | Principal/Carveout Guarantor | Related Borrower(26) | Lockbox (Y/N) | Lockbox Type(27) | UW Occupancy (%) |
UW ADR ($) | UW RevPAR ($) | Most Recent Occupancy (%) | Most Recent ADR ($) | Most Recent RevPAR ($) | 2017 Occupancy (%) | 2017 ADR ($) | 2017 RevPAR ($) | 2016 Occupancy (%) | 2016 ADR ($) | 2016 RevPAR ($) | 2015 Occupancy (%) | 2015 ADR ($) | 2015 RevPAR ($) |
36 | CCRE | 1 | College Park | Hutton Development Co., Inc. | No | Yes | Springing | |||||||||||||||
37 | SMC | 1 | Storage Xxtra Stockbridge | Richard P. Spencer II | Yes - Group 2 | No | None | |||||||||||||||
38 | Barclays | 1 | Valley Forge Corporate Center | Moses Y. Samet | No | Yes | Hard | |||||||||||||||
39 | Barclays | 1 | CB Square | Michael Lapointe, Adam Greenberg, Umberto Sorbo | No | Yes | Springing | |||||||||||||||
40 | KeyBank | 1 | US Storage Centers - Bakersfield | Hoeven Family Partnership II, LLC | No | No | None | |||||||||||||||
41 | SMC | 1 | Holiday Inn Express & Suites Vidor South | Krutikumar G. Bhakta, Rupal A. Bhakta, Smruti G. Bhakta, Prashant P. Bhakta | No | Yes | Springing | 67.8% | 98.02 | 66.46 | 73.5% | 113.27 | 83.26 | 57.0% | 103.10 | 58.77 | 46.8% | 99.78 | 46.70 | 47.1% | 104.90 | 49.41 |
42 | Barclays | 1 | Best Yet Storage - Shed Road | Jason Monarch | No | Yes | Springing | |||||||||||||||
43 | SMC | 1 | Lincoln Commonwealth Center | David Rojas | No | Yes | Springing | |||||||||||||||
44 | SMC | 1 | Storage Xxtra Raymond Hill | Richard P. Spencer II | Yes - Group 2 | No | None |
A-1-18
Footnotes to Annex A-1 | |
(1) |
“Barclays” denotes Barclays Bank PLC as Mortgage Loan Seller; “Starwood” denotes Starwood Mortgage Capital LLC as Mortgage Loan Seller; “CCRE” denotes Cantor Commercial Real Estate Lending, L.P. as Mortgage Loan Seller; “KeyBank” denotes KeyBank National Association as Mortgage Loan Seller. |
(2) |
With respect to Loan No. 7, West Covina Village, the mortgaged property is comprised of 175,672 square feet of retail space and 44,328 square feet of office space.
With respect to Loan No. 13, Shelbourne Global Portfolio II, the White Clay Office Park mortgaged property is comprised of 125,000 square feet of industrial space and 367,298 of office space.
With respect to Loan No. 17, Round Hill Square, the mortgaged property is comprised of 90,935 square feet of retail space and 25,049 square feet of office space. |
(3) |
Certain of the mortgage loans include parcels ground leased to tenants in the calculation of the total square footage and the occupancy of the mortgaged property.
With respect to Loan No. 2, Christiana Mall, the Largest Tenant at the mortgaged property, Target, ground leases 145,312 square feet from the borrowers.
With respect to Loan No. 5, Fidelis Portfolio, the Largest Tenant at the Victory Lakes Town Center mortgaged property, JC Penney, ground leases 103,525 square feet from the borrowers.
With respect to Loan No. 6, Troy Place, Cameron Mitchell Restaurants ground leases an 8,715 square-foot pad from the borrowers.
With respect to Loan No. 15, Dudley Farms Plaza, five of the tenants ground lease the property’s outparcel pads from the borrower. |
(4) |
In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but have not yet commenced paying rent and/or are not in occupancy.
With respect to Loan No. 4, Liberty Portfolio, the Largest Tenant at the Liberty Center at Rio Salado property, Centene Management Company LLC, occupies 236,131 square feet through January 31, 2028 in the 1870 West Rio Salado Parkway building, 77,867 square feet through January 22, 2028 in the 1850 West Rio Salado Parkway building and 38,990 square feet through December 31, 2028 in the 1910 West Rio Salado Parkway building.
With respect to Loan No. 4, Liberty Portfolio, the Fifth Largest Tenant at the Liberty Center at Rio Salado Property, DriveTime Automotive Group, Inc., subleases its 65,889 square feet of space to Carvana, LLC. The sublease is co-terminus with, and requires the same rent as, the original DriveTime Automotive Group Inc. lease. In total, Carvana, LLC occupies 135,663 square feet at the 1930 West Rio Salado Parkway building.
With respect to Loan No. 5, Fidelis Portfolio, Occupancy % includes University of Texas Medical Branch (“UTMB”), the Second Largest Tenant at the Victory Lakes Town Center mortgaged property. UTMB occupies 45,411 square feet at the Victory Lakes Town Center mortgaged property and is currently building out an additional 42,204 square feet. The sponsor expects UTMB to take occupancy of the expansion space in September 2019. At origination of the loan, the borrowers were required to escrow outstanding tenant improvements and leasing commissions in an amount equal to $1,900,000 for UTMB’s expansion space.
With respect to Loan No. 12, Moffett Towers – Buildings E,F,G, the sole tenant, A2Z Development Center, Inc. (“Amazon”), executed leases for Building E, Building F and Building G which commenced or will commence in 2012, 2019 and 2014, respectively. With respect to Building F, such building is occupied by Hewlett-Packard (“HP”), which has executed a lease termination agreement, until March 31, 2019. With respect to Building G, HP occupies a 7,874 square foot laboratory until March 31, 2023. Amazon has free rent on Building F through October 2019 and through April 2019 for suite G100 (25,778 square feet) and free rent on Building G through September 2023). At origination, the borrower deposited $15,021,721 into a reserve for all outstanding rent concessions due under the Amazon lease. The borrower has the right to draw down funds in the rent concession reserve from October 2018 to September 2023. Amazon is in occupancy of Building E and has commenced its buildout of Building G. |
A-1-19
With respect to Loan No. 14, Zenith Ridge, Occupancy % includes 30,971 square feet (6.4% of net rentable area) of additional space that is leased by the Largest Tenant, Ansys, Inc. (“Ansys”), but is not yet occupied. Ansys currently occupies 186,000 square feet at the Zenith Ridge mortgaged property and is in the process of building out its additional space in the Zenith Ridge II building. According to the sponsors, Ansys is expected to take occupancy of its space in January 2019. Ansys is entitled to 15 months of free rent related to such additional space for which the borrowers were required to escrow at origination an amount equal to $890,416, along with outstanding tenant improvements and leasing commissions in an aggregate amount equal to $1,445,533.
With respect to Loan No. 18, TX-OK Portfolio, the Largest Tenant at the South Houston Industrial mortgaged property, Deutsche Windtechnik, and the Second Largest Tenant at the South Houston Industrial mortgaged property, DANOBAT Group, have executed leases but are not yet occupying their respective spaces. At origination, the borrowers were required to escrow $730,889 for rent concessions and remaining buildout costs.
With respect to Loan No. 19, The Shops at Solaris, the Fifth Largest Tenant at the mortgaged property, Betteridge Jewelers, may terminate its lease upon the payment of three months base rent if Betteridge Jewelers ceases operations in Colorado.
With respect to Loan No. 28, Bridgeport Center, the Second Largest Tenant, Hi-Tec Sports USA, is currently subleasing space from the Fifth Largest Tenant, Banner Bank. | |
(5) |
With respect to all mortgage loans, with the exceptions of mortgage loans listed below, the Current LTV (%) and the Maturity/ARD LTV (%) are based on the “as-is” Appraised Value ($) even though, for certain mortgage loans, the appraisal provided “as-stabilized” values based on certain criteria being met.
With respect to Loan No. 3, GNL Portfolio, the Appraised Value ($) represents the “As-Is Portfolio” value of $172,290,000, which includes a portfolio premium to the Mortgaged Properties if sold together on a bulk basis. The sum of the “As-Is” Appraised Values on a stand-alone basis is $170,205,000. The Current LTV (%) and Maturity/ARD LTV (%) representing the sum of the “As-Is” Appraised Values are 57.9% and 57.9%, respectively.
With respect to Loan No. 11, Virginia Beach Hotel Portfolio, the Appraised Value ($) of the Hilton Garden Inn Virginia Beach Oceanfront Property represents the “As Is (PIP Extraordinary Assumption)” value of $45,600,000, which assumes that 50.0% of expected PIP work ($1,000,000) would be escrowed by the lender and would be available to a prospective buyer to fund the PIP work at the Hilton Garden Inn Virginia Beach Property. The Virginia Beach Hotel Portfolio borrowers deposited upfront PIP reserves totaling $741,954, which represents 50.0% of the engineer’s updated estimated costs of the remaining PIP work of $1,483,907. The balance of the remaining PIP work will be funded by the monthly FF&E reserve in an amount of 1/12th of 5.0% of the gross income from operations (initially $104,329 for the portfolio).
With respect to Loan No. 12, Moffett Towers – Buildings E,F,G, the Appraised Value ($) represents the “Prospective Market Value Upon Stabilization” value of $705,800,000, which assumes that HP vacates its space from September 2018 through March 2023, in phases. The Current LTV (%) and Maturity/ARD LTV (%) are calculated based upon the Appraised Value of $705,800,000. The “As-Is” appraised value is $646,700,000 as of July 30, 2018, equating to a Current LTV (%) and Maturity/ARD LTV (%) of 43.9% and 43.9%, respectively, for the Moffett Towers – Buildings E,F,G Whole Loan balance of $284,000,000, and a Current LTV (%) and Maturity/ARD LTV (%) of 77.3% and 77.3%, respectively, for the total debt balance of $500,000,000. In addition, the appraiser concluded a “hypothetical go dark” appraised value of $504,200,000 as of July 30, 2018, equating to a Current LTV (%) and Maturity/ARD LTV (%) of 56.3% and 56.3%, respectively, for the Moffett Towers – Buildings E,F,G Whole Loan and a Current LTV (%) and Maturity/ARD LTV (%) of 99.2% and 99.2%, respectively, for the total debt.
With respect to Loan No. 16, Moffett Towers II – Building 1, the Appraised Value ($) represents the “Prospective Market Value Upon Stabilization” value of $358,600,000, which assumes rent concessions and outstanding tenant improvement and leasing commissions are deposited into the TI/LC and Free Rent Reserve accounts. At origination, the borrower deposited upfront reserves totaling $26,716,072 for such contractual TI/LC obligations and free rent. The Current LTV (%) and Maturity/ARD LTV (%) are calculated based upon the Appraised Value of $358,600,000. The “As-Is” appraised value is $335,200,000 as of June 5, 2018 equating to a Current LTV (%) and Maturity/ARD LTV (%) of 50.1% and 45.8%, respectively, for the Moffett Towers – Building 1 Whole Loan balance of $168,000,000, and a Current LTV (%) and Maturity/ARD LTV (%) of 83.5% and 79.2%, respectively, for the total debt. |
A-1-20
With respect to Loan No. 41, Holiday Inn Express & Suites Vidor South, the Appraised Value ($) represents the “Hypothetical As-Is” value of $7,500,000 as of September 19, 2018, which assumes the borrower has reserved $1,500,000 for future capital improvements. Prior to the mortgage loan origination, the sponsor spent approximately $535,000 towards the capital improvements and $972,180 was reserved by the borrower at mortgage loan origination. The “As-Is” appraised value is $6,000,000 as of September 19, 2018, equating to a Current LTV (%) and Maturity/ARD LTV (%) of 66.6% and 51.6%, respectively. | |
(6) | For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Current Balance ($) and Maturity/ARD Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation. |
(7) |
The Original Balance ($) and Current Balance ($) represent only the mortgage loan included in the issuing entity. The U/W NOI DSCR (x), U/W NCF DSCR (x), Current LTV (%), Maturity/ARD LTV (%),Current U/W NOI Debt Yield (%), Current U/W NCF Debt Yield (%) and Current Balance per Unit ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate but exclude any subordinate companion loan(s). For more information regarding the mortgage loans secured by the mortgaged properties identified under the column heading in this Annex A-1 as Christiana Mall, GNL Portfolio, Liberty Portfolio, Fidelis Portfolio, Home Depot Technology Center, Virginia Beach Hotel Portfolio, Moffett Towers – Buildings E,F,G, Shelbourne Global Portfolio II, Zenith Ridge, Moffett Towers II – Building 1, The Shops at Solaris, One River Place, Alex Park South, and Fair Oaks Mall. See the charts titled “Whole Loan Summary” and “Whole Loan Control Notes and Non-Control Notes” in “Description of the Mortgage Pool—The Whole Loans” in the preliminary prospectus. |
(8) | For each mortgage loan, the excess of the related Interest Rate % over the related Servicing Fee Rate, the Trustee Fee Rate (including the Certificate Administrator Fee Rate), the Operating Advisor Fee Rate, the Asset Representation Reviewer Fee and the CREFC® Intellectual Property Royalty License Fee Rate (collectively, the “Admin Fee %”). |
(9) | For the mortgage loans that are interest-only for the entire term and accrue interest on an Actual/360 basis, the Monthly Debt Service Amount ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360. |
(10) | With respect to Loan No. 30, Fair Oaks Mall, the Fair Oaks Mall Whole Loan amortizes based on a specific amortization schedule, which is set forth in Annex F of the Preliminary Prospectus. |
(11) |
With respect to Loan No. 7, West Covina Village, the Grace Period (Late Payment) of one day is only allowed once per year.
With respect to Loan No. 8, AVR Embassy Suites Fort Worth, the Grace Period (Late Payment) of four days is allowed only four times during the term of the loan.
With respect to Loan No. 15, Dudley Farms Plaza, the Grace Period (Late Payment) of five days is allowed only once every trailing 12-month period.
With respect to Loan No. 25, RHW Multifamily Portfolio, the Grace Period (Late Payment) of four days is allowed only twice during the loan term. |
(12) | With respect to Loan No. 10, Home Depot Technology Center, the monthly debt service payments are based on an initial interest rate of 5.001%, the loan is interest-only through and including the October 5, 2025 payment date and the loan has a stated maturity date of November 5, 2028. Commencing on the anticipated repayment date of November 5, 2025 and each payment date thereafter, the interest rate will be equal to 8.001% (the “Extension Term Interest Rate”), and in addition to the monthly debt service payment amount the borrower is required to deposit with the lender all excess cash flow for the preceding month, and the lender will apply such amounts as follows: (i) first, to the reduction of the principal balance of the loan until the entire outstanding principal balance of the loan is indefeasibly paid in full, and (ii) second, to interest accrued at the Extension Term Interest Rate and not paid. |
(13) | The “L” component of the prepayment provision represents lockout payments. |
The “Def” component of the prepayment provision represents defeasance payments. |
A-1-21
The “YM” component of the prepayment provision represents yield maintenance payments.
The “O” Component of the prepayment provision represents the free payments including the Maturity Date.
Certain 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 the preliminary prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in the preliminary prospectus.
With respect to Loan No. 2, Christiana Mall, the lockout period will be at least 28 payments beginning with and including September 1, 2018. Defeasance of the full $550.0 million Christiana Mall Whole Loan is permitted after the date that is the earlier to occur of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) July 12, 2021. The assumed lockout period of 28 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer.
With respect to Loan No. 4, Liberty Portfolio, the lockout period will be at least 26 payments beginning with and including November 6, 2018. Defeasance of the full $165.7 million Liberty Portfolio Whole Loan is permitted after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) September 26, 2021. The assumed lockout period of 26 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer.
With respect to Loan No. 10, Home Depot Technology Center, the lockout period will be at least 25 payments beginning with and including the first payment date of December 5, 2018. Defeasance of the full $44.3 million Home Depot Technology Center Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the of the securitization that includes the last note to be securitized and (ii) October 11, 2021. The assumed lockout period of 25 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer.
With respect to Loan No. 11, Virginia Beach Hotel Portfolio, the lockout period will be at least 27 payments beginning with and including the first payment date of October 6, 2018. Defeasance of the full $90.0 million Virginia Beach Hotel Portfolio Whole Loan is permitted any time after the earlier of (i) the date that is two years from the closing date of the final REMIC securitization that includes the last pari passu note to be securitized and (ii) August 31, 2021. The assumed lockout period of 27 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer. | |
With respect to Loan No. 12, Moffett Towers – Buildings E,F,G, the lockout period will be at least 24 payment dates beginning with and including the first payment date of November 6, 2018. Defeasance of the full $284.0 million of the Moffett Towers – Buildings E,F,G Whole Loan is permitted at any time after the earlier to occur of (i) the date that is two years after the closing date of the of the securitization that includes the last note to be securitized and (ii) September 7, 2021. The borrower is also permitted to prepay the Moffett Towers Buildings – E,F,G Whole Loan on or after the payment date in November 2020 with a payment of a yield maintenance premium. The assumed defeasance lockout period of 26 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer.
With respect to Loan No. 13, Shelbourne Global Portfolio II, the lockout period will be at least 24 payment dates beginning with and including the first payment date of January 6, 2018. Defeasance of the full $55.0 million Shelbourne Global Portfolio II Whole Loan is permitted after the date that is earlier to occur of (i) January 6, 2023 and (ii) two years after the date of the securitization of the last portion of the Shelbourne Global Portfolio II Whole Loan. The assumed lockout period of 24 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer.
With respect to Loan No. 16, Moffett Towers II – Building 1, the lockout period will be at least 24 payment dates beginning with and including the first payment date of September 6, 2018. Defeasance of the full $280.0 million of the Moffett Towers II – Building 1 Whole Loan is permitted at any time after the earlier to occur of (i) the date that is two years after the closing date of the of the securitization that includes the last note to be securitized and (ii) July 13, 2021. The borrower is also permitted to prepay the Moffett Towers II – Building 1 Whole Loan on or after the payment date in September 2020 with a payment of a yield maintenance premium. The assumed defeasance lockout period of 28 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer. |
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With respect to Loan No. 23, One River Place, the lockout period will be at least 25 payment dates beginning with and including the first payment date of December 6, 2018. Defeasance of the full $25.0 million of the One River Place Whole Loan is permitted after the date that is earlier to occur of (i) the date that is two years after the closing date of the of the securitization that includes the last note to be securitized and (ii) November 1, 2021. The assumed lockout period of 25 payments is based on the expected BBCMS 2018-C2 securitization closing date in December 2018. The actual lockout period may be longer. | |
(14) |
Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Indebtedness—Mezzanine Indebtedness,” and “—Preferred Equity” and “Certain Legal Aspects of the Mortgage Loans” in the preliminary prospectus for information related to mortgage loans with subordinate, mezzanine or other additional debt or preferred equity that permit subordinate, mezzanine or other additional debt in the future.
With respect to Loan No. 1, Dream Inn, future mezzanine debt is permitted provided, among other conditions (i) the combined loan-to-value ratio is no greater than 55.0%, (ii) the debt service coverage ratio based on the trailing 12-month period is equal to or greater than 2.38x, (iii) an intercreditor agreement satisfactory to the lender in its reasonable discretion is entered into and (iv) if required, the borrower delivers a rating agency confirmation.
With respect to Loan No. 2, Christiana Mall, the Christiana Mall Whole Loan includes three pari passu subordinate B-Notes (B-1, B-2 and B-3) which have a combined cut-off date balance of $212.0 million and are not included in the BBCMS 2018-C2 Trust. All loan level metrics are based on the Christiana Mall Whole Loan balance excluding the B-Notes.
With respect to Loan No. 2, Christiana Mall, future mezzanine debt is permitted provided, among other conditions (i) the combined loan-to-value ratio is no greater than 95.0% of the closing date loan-to-value ratio of 52.9% (ii) the debt service coverage ratio based on the trailing 12-month period is no less than 105.0% of the closing date debt service coverage ratio of 1.82x, (iii) the mezzanine lender enters into an intercreditor agreement satisfactory to the lender, (iv) the borrower maintains an interest rate cap or swap agreement if the mezzanine loan bears a floating interest rate, and (v) if required, the borrower obtains rating agency confirmation.
With respect to Loan No. 12, Moffett Towers – Buildings E,F,G, mezzanine debt consists of a $150.0 million Mezzanine A loan and a $66.0 million Mezzanine B loan. The Mezzanine A loan has a 5.6700% coupon and the Mezzanine B loan has a 6.8000% coupon. The Moffett Towers – Buildings E,F,G Mezzanine Loans are interest-only for the full term of the loans and have a stated maturity date that are coterminous with the Moffett Towers – Buildings E,F,G Whole Loan.
With respect to Loan No.13, Shelbourne Global Portfolio II, future mezzanine debt is permitted provided, among other conditions: (i) the mezzanine loan amount does not exceed and aggregate of $7.0 million, (ii) the combined loan-to-value ratio is no greater than 66.2%, (iii) the combined debt service coverage ratio is no less than 1.55x, (iv) the combined debt yield is no less than 9.5%, (v) the mezzanine lender enters into an intercreditor agreement satisfactory to the lender and (vi) if required, the borrower obtains rating agency confirmation.
With respect to Loan No. 16, Moffett Towers II – Building 1, mezzanine debt consists of a $112.0 million Mezzanine loan. The Mezzanine loan has a 6.0000% coupon. The Moffett Towers II – Building 1 Mezzanine loan is interest-only for the full term of the loan and has a stated maturity date that is coterminous with the Moffett Towers II – Building 1 Whole Loan. |
With respect to Loan No. 17, Round Hill Square, future mezzanine debt is permitted provided, among other conditions (i) the combined loan-to-value ratio is no greater than 68.6%, (ii) the debt service coverage ratio based on the trailing 12-month period is equal to or greater than 1.38x, (iii) the debt yield is equal to or greater than 9.3%, (iv) an intercreditor agreement satisfactory to the lender in its reasonable discretion is entered into and (v) if required, the borrower delivers a rating agency confirmation. Additionally, preferred equity ownership interest in the borrower may be held by an entity acceptable to the lender, in a percentage amount to be approved by the lender, provided the following conditions are met: (i) the preferred equity holder is required to execute a subordination and standstill agreement acceptable to the lender, (ii) hard cash management must be in-place (if required by the lender) and (iii) the terms and documentation of preferred equity must be acceptable to the lender.
With respect to Loan No. 24, Pangea 21, future mezzanine debt is permitted provided, among other conditions (i) the combined loan-to-value ratio is no greater than 70.0%, (ii) the debt service coverage ratio based on the trailing 12-month period is equal to or greater than 1.50x, (iii) the debt yield is equal to or greater than 9.5%, (iv) an |
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intercreditor agreement satisfactory to the lender in its reasonable discretion is entered into and (v) if required, the borrower delivers a rating agency confirmation.
With respect to Loan No. 28, Bridgeport Center, future mezzanine debt is permitted provided, among other conditions, (i) the combined loan-to-value ratio is no greater than 65.0%, (ii) the combined debt service coverage ratio is greater than or equal to 1.65x, (iii) the combined debt yield is greater than or equal to 10.0%, (iv) the mezzanine lender enters into an intercreditor agreement satisfactory to the lender, and (v) if required, the borrower delivers a rating agency confirmation.
With respect to Loan No. 30, Fair Oaks Mall, the Fair Oaks Mall Whole Loan includes two pari passu subordinate B-Notes (B-1 and B-2), which have a combined cut-off date balance of $84,367,961 and are not included in the BBCMS 2018-C2 Trust. All loan level metrics are based on the Fair Oaks Mall Whole Loan balance excluding the B-Notes.
With respect to Loan No. 32, Marketplace Center at Murfreesboro, future mezzanine debt is permitted provided, among other conditions (i) the combined loan-to-value ratio is no greater than 71.37%, (ii) the debt service coverage ratio based on the trailing 12-month period is equal to or greater than 1.46x, (iii) an intercreditor agreement satisfactory to the lender in its reasonable discretion is entered into and (iv) if required, the borrower delivers a rating agency confirmation. | |
(15) |
The U/W NOI DSCR (x) and U/W NCF DSCR (x) for all partial interest-only mortgage loans were calculated based on the first principal and interest payment after the Note Date during the term of the mortgage loan.
With respect to Loan No. 30, Fair Oaks Mall, the U/W NCF DSCR (x) is calculated using the sum of principal and interest payments over the first 12-months following the cut-off date based on the assumed principal schedule provided to Annex F to the preliminary prospectus. |
(16) |
With respect to Loan No. 3, GNL Portfolio - PNC Bank, the rent for the Largest Tenant, PNC Bank, is straight-lined through lease expiration in 2029.
With respect to Loan No. 6, Troy Place, the rent for the Second Largest Tenant, Marsh & McLennan Agency LLC, is straight-lined through lease expiration in 2020. Additionally, for the Fourth Largest Tenant, Kelley Blue Book Co., Inc., rent is straight-lined through lease expiration in 2024.
With respect to Loan. No 10, Home Depot Technology Center, the rent for the Largest Tenant, Home Depot USA, Inc., is straight-lined through the ARD date of November 5, 2028.
With respect to Loan No. 12, Moffett Towers – Buildings E, F, G, the rent for the Largest Tenant, Amazon, is straight-lined through lease terms expiring in 2024 for 224,492 square feet of space and 2030 for 452,106 square feet of space.
With respect to Loan No. 14, Zenith Ridge, the rent for the Second Largest Tenant, EQT Corp., is straight-lined through lease expiration in 2031 for 150,000 square feet of space and through 2024 for 30,908 square feet of space.
With respect to Loan No. 16, Moffett Towers II – Building 1, the rent for the Largest Tenant, A2Z Development Center, Inc., is straight-lined through the maturity date of April 30, 2028.
With respect to Loan No. 18, TX-OK Portfolio, the rent for the sole tenant at the NOV mortgaged property, National Oilwell Varco, is averaged through lease expiration in 2029. |
(17) | In certain cases, U/W Capital Items ($) is inclusive of certain credits for upfront reserves taken at closing. |
(18) |
With respect to some mortgage loans, historical financial information may not be available as a result of acquisition financing and/or recent construction.
With respect to Loan No. 3, GNL Portfolio, historical financials at the NetScout Systems property were unavailable due to recent construction in 2018. |
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With respect to Loan No. 4, Liberty Portfolio, the historical occupancy was unavailable for the Liberty Center at Rio Salado property because the four buildings were constructed in 2014 (with respect to two of the buildings), 2016 and 2017, respectively.
With respect to Loan No. 11, Virginia Beach Hotel Portfolio, the historical F&B revenues have been normalized to reflect the new borrower-affiliated F&B lease that commenced at loan closing. At loan origination, the borrower leased out all F&B operations of the restaurants in the portfolio to Shamin-TLV Inc, an affiliate of the borrower. The annual rent under such lease will be $3,325,000 for a 15-year term with 10.0% rent steps every five years. The lease has no termination options.
With respect to Loan No. 16, Moffett Towers II – Building 1, historical financials are unavailable because the property was built in 2018.
With respect to Loan No. 18, TX-OK Portfolio, the mortgage loan represents acquisition financing and the seller provided limited operating history for the portfolio.
With respect to Loan No. 31, Friedman Portfolio, year-end 2017 financials at the Jewel Osco property are annualized based on the two months of operating history tenant occupied the space on an owner-user basis prior to November 2017, so operating history prior to November 2017 does not exist.
With respect to Loan No. 31, Friedman Portfolio, year-end 2017 financials at the Coors Bypass property are annualized based on 10 months of operating history. The borrower acquired the property in November 2017 and provided November and December 2017 operating statements; the previous owner provided January- August 2017 operating statements at the time of the acquisition; operating history for September and October are unavailable.
With respect to Loan No. 33, Fairfield Inn & Suites Hendersonville Flat Rock, construction for the mortgaged property was completed, and the mortgaged property opened, in January 2018. The most recent financial information represents the actual financial figures for January through September 2018 plus three months of borrower budgeted financial information.
With respect to Loan No. 36, College Park, Most Recent cash flows were unavailable for the mortgaged property due its membership in an REA/Master Association that provides services and pays the related expenses directly for the members of the association.
With respect to Loan No. 44, Storage Xxtra Raymond Hill, 2016 financial information represents the trailing 12-month period ending February 28, 2017, as the borrower purchased the property in March 2016. | |
(19) |
With respect to Loan No. 2, Christiana Mall, a 4.154-acre portion of the parking lot at the mortgaged property is owned by Macy’s and ground leased to the borrower pursuant to a parking lease agreement, dated as of July 30, 2010. Consequently, the loan, with respect to such portion of the mortgaged property, is secured only by the borrower’s leasehold interest. The parking lease agreement will terminate on December 31, 2028, provided, however, that Macy’s can terminate the parking lease agreement at any time with 12-months’ notice. The parking lease agreement does not contain customary mortgagee protection provisions and is scheduled to expire prior to the date that is 10 years after the loan term. Separately, the Largest Tenant, Target, constructed their own store on a 10.15-acre site which is ground leased from the borrower. Target’s ground lease has an initial expiration date of December 31, 2036 with extension options through December 31, 2091. The ground lease payments are structured as followed: (i) an annual amount equal to the square feet of gross leasable floor area of the tenant’s building multiplied by $0.05 (defined as the promotion fund contribution in the ground lease); (ii) common area maintenance charge (as defined in the agreement) and (iii) tenant’s share of taxes as described in the ground lease agreement. Target’s ground lease agreement includes a provision in which case Target has a fair market value purchase option to acquire the fee interest of the mortgaged property from the borrower in the portion of the mortgaged property that is ground leased to Target, at any time during the ground lease term.
With respect to Loan No. 4, Liberty Portfolio, the four buildings at the Liberty Center at Rio Salado Property receive a 50.0% real estate tax abatement through a Government Property Lease Excise Tax (“GPLET”) abatement with the Arizona Department of Revenue and the City of Tempe. The GPLET abatement has a term of eight years commencing on the respective certificate of occupancy date for each building. In lieu of paying real estate taxes, the borrower pays to the Arizona Department of Revenue and City of Tempe, in the form of rent, 50.0% of what the respective buildings’ real estate taxes otherwise would have been (the 2018 rent due under the GPLET abatement for the four buildings located at the Liberty Center at Rio Salado property was equal to $882,940). The |
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borrower has a leasehold interest in each of the buildings located at the Liberty Center at Rio Salado property, which are subject to the GPLET abatement until expiration of the underlying lease, at which point title in the fee interest will automatically vest in the borrower. The GPLET expires at each of the building as follows: (i) 1850 West Rio Salado Parkway expires on October 29, 2022; (ii) 1870 West Rio Salado Parkway expires on February 14, 2026; (iii) 1910 West Rio Salado Parkway expires on July 7, 2023; and (iv) 1930 West Rio Salado Parkway expires on September 27, 2024.
With respect to Loan No. 9, Residence Inn by Marriott Phoenix Desert View at Mayo Clinic , the mortgaged property is subject to a ground lease with Mayo Clinic Arizona. The lease commenced on April 18, 2007, was amended February 25, 2008 and expires April 17, 2077. The ground lease provides for one 15-year extension option and one 14-year extension option with a fully extended ground lease expiration date of April 17, 2106. The ground lease payments are structured with two parts: (1) a fixed use fee which increases by 3% annually (approximately $26,095 for 2018) and (2) the greater of (a) a fixed base rent (approximately $331,963 in 2018) which increases by 7.5% every five years or (b) percentage rent of 5% of gross room revenue (approximately $445,111 based on the trailing 12-months ending September 30, 2018 and as underwritten).
With respect to Loan No. 11, Virginia Beach Hotel Portfolio, at the Hilton Virginia Beach Oceanfront property, attached to the Property by way of an overhead walkway is a 1,000-car parking garage with ground floor retail. The borrower has a leasehold interest in a portion of the garage consisting of 380 parking garage spaces. The leased fee holder of the garage is the City of Virginia Beach Development Authority. Rent under the parking lease currently consists of an approximate $262,000 annual payment and expires on June 30, 2070. Additionally, the borrower has also entered a lease for the ground floor retail portion of the parking garage, which provides approximately 26,000 square feet of commercial space to the borrower as well as an additional 58 parking spaces for exclusive retail use. The annual lease expense is $378,930 with the lease term expiring in June 30, 2030. In addition, for Hilton Garden Inn Virginia Beach Oceanfront property, the borrower has a leasehold interest in an off-site parking garage where the borrower leases 168 spaces from 34th Street Garage, LLC. Annual rent under the lease equals $1.00 and the lease expires in May 2105.
With respect to Loan No. 15, Dudley Farms Plaza, the Property is subject to a ground lease with The Dudley Family Limited Partnership II through October 31, 2096 with fixed annual rent of $231,130. | |
(20) | Represents the amount deposited by the borrower at origination. All or a portion of this amount may have been released pursuant to the terms of the related loan documents. |
(21) |
Represents the monthly amounts required to be deposited by the borrower. The monthly collected amounts may be increased or decreased pursuant to the terms of the related loan documents. In certain cases, reserves with $0 balances are springing and are collected in the event of certain conditions being triggered in the respective mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being triggered in the respective mortgage loan documents.
With respect to Loan No. 1, Dream Inn, a Monthly CapEx Reserve ($) is required in an amount equal to one-twelfth of 4.0% of the greater of (i) gross room revenue for the immediately preceding calendar year (as determined by the lender in its discretion), and (ii) total projected gross room revenue (as determined by the lender in its discretion) set forth in the approved annual budget for the immediately following calendar year, subject to annual adjustment. The calculated Monthly CapEx Reserve ($) monthly deposit as of the Origination Date is $51,161. Additionally, the borrower deposited $290,000 at origination into a seasonality reserve. On each payment date occurring in May, June, July, August, and September, the borrower is required to deposit $58,000 into the seasonality reserve account. In the event that the amount on deposit in the seasonality reserve account equals or exceeds $290,000, the borrower shall have no obligation to make further deposits into the seasonality reserve account, provided, however, that if the balance in the seasonality reserve account falls below the $290,000 seasonality reserve cap, the monthly deposits in the seasonality reserve account shall recommence until the amount on deposit in the seasonality reserve account once again equals the seasonality reserve cap. The monthly deposit amount and the seasonality reserve cap are subject to future adjustment, provided that the seasonality reserve cap may not exceed $290,000.
With respect to Loan No. 5, Fidelis Portfolio, when the reserve falls below the cap, the borrowers are required to escrow $21,667 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $1,500,000.
With respect to Loan No. 5, Fidelis Portfolio in no event will the borrowers be required to escrow more than 105% of the amount paid by the borrowers during the immediately preceding calendar year for replacement reserves. |
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With respect to Loan No. 7, West Covina Village, the borrower is required to escrow $41,250 on a monthly basis for tenant improvement and leasing commission reserves occurring on the payment date in January 2019 and for each payment date occurring thereafter up to and including the payment date in December 2021. Beginning on the payment date in January 2022, the borrower is required to escrow $18,333 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $1,500,000.
With respect to Loan No. 8, AVR Embassy Suites Fort Worth, the borrower deposited $320,000 at origination into a seasonality reserve. On each payment date occurring in January, February, April, May, June, August, September, October, and November (the “High Months”), the borrower is required to deposit approximately $35,556 subject to a cap of $320,000.
With respect to Loan No. 11, Virginia Beach Hotel Portfolio, after completion of their related PIPs, monthly deposits into the Hilton FF&E Reserve and HGI FF&E Reserve accounts will be reduced to 4.0% of projected annual gross income (as further outlined in the loan documents). Monthly deposits are not required in excess of 36 months’ worth of the required deposits. | |
With respect to Loan No. 12, Moffett Towers — Buildings E, F,G, other than with respect to a lease sweep period triggered or continuing due to the trigger event described in clause (i)(e) of the defined term “Lease Sweep Period” (i.e., due to a lease sweep tenant party insolvency proceeding), the borrower has the option of preventing the commencement of a lease sweep period (or, if already triggered, terminating such lease sweep period) by delivering to the lender a letter of credit in a face amount equal to the applicable “Lease Sweep And Debt Service Reserve Cap.”
With respect to Loan No. 13, Shelbourne Global Portfolio II, at origination, the borrower deposited $3,000,000 for future tenant improvements and leasing commissions into a rollover reserve account, with up to $1,142,952.00 of such funds being transferred to the Chase TI Reserve. In addition, the borrower is required to escrow $48,045 monthly into a tenant improvements and leasing commissions reserve in the event that the tenant improvement and leasing commissions account contains less than $2,000,000, subject to a cap of $2,500,000, which will only apply during any period in which (i) the mortgaged property is not less than 85.0% occupied by tenants that are in occupancy, open for business and paying rent under their applicable leases (after the expiration of any free rent or rent concession periods) and (ii) the debt service coverage ratio is not less than 1.50x.
With respect to Loan No. 17, Round Hill Square, when the reserve falls below the cap, the borrowers are required to escrow approximately $9,665 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $475,000.
With respect to Loan No. 28, Bridgeport Center, when the reserve falls below the cap, the borrower is required to escrow approximately $7,468 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $450,000.
With respect to Loan No. 30, Fair Oaks Mall, during the continuance of a cash management trigger event period (as defined in the related loan agreement), the borrower will deposit: (i) one-twelfth of the taxes that the lender reasonably estimates will be payable during the next ensuing 12 calendar months into a real estate tax reserve, (ii) one-twelfth of the insurance premiums into an insurance reserve, so long as the insurance policy does not constitute an acceptable blanket policy; (iii) $12,077 into a replacement reserve, capped at $434,772; and (iv) $113,743 into a TI/LC reserve, capped at $4,094,748 (inclusive of Ring Road and lease termination deposits). Upon the sale of the ring road outparcel, the borrower must deliver 100% of all net sales proceeds received for the sale of the ring road outparcel into the TI/LC reserve fund. Upon the occurrence of an owned anchor trigger (as defined in the related loan agreement), all excess cash flows from the cash management account will be disbursed to the owned anchor reserve account up until $2,150,000. At the borrower’s option, the borrower may deposit a letter of credit or cash in the amount of $2,150,000 in lieu of monthly deposits. Provided no event of default has occurred and is continuing, the borrower may demolish, redevelop, re-tenant and/or reposition the owned anchor space (as defined in the related loan agreement), and will make an owned anchor termination reserve fund deposit (as defined in the related loan agreement). On each payment date during the occurrence of an Anchor Tenant Event (as defined below) the borrower will deposit into an Owned Anchor Termination Reserve Fund (as defined in the related loan agreement) an amount equal to the product of $91,667 multiplied by the number of months remaining from the date of the termination of the Macy’s lease through February 1, 2026. An “Anchor Tenant Event” will commence if an anchor tenant (i) vacates, ceases operations or gives public notice of its intent to vacate or cease operations at the Fair Oaks Mall Property, (ii) terminates or gives public notice of its intent to terminate |
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its lease, (iii) fails to renew or extend its lease within the required notice period, (iv) defaults in payment of rent beyond notice and cure periods or (v) becomes involved in any bankruptcy proceeding. | |
With respect to Loan No. 30, Fair Oaks Mall, when the reserve falls below the cap, the borrower is required to escrow $113,743 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $4,094,748.
With respect to Loan No. 33, Fairfield Inn & Suites Hendersonville Flat Rock, the Monthly CapEx Reserve ($) amount equals one-twelfth of 2.0% of gross revenues during the first two years of the loan term, 3.0% of gross revenues during the third year of the loan term and 4.0% of gross revenues thereafter.
With respect to Loan No. 39, CB Square, when the reserve falls below the cap, the borrower is required to escrow approximately $6,092 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $300,000.
With respect to Loan No. 41, Holiday Inn Express & Suites Vidor South, the Monthly CapEx Reserve ($) amount equals 1/12th of 4.0% of gross revenues.
With respect to Loan No. 43, Lincoln Commonwealth Center, in lieu of making monthly payments for taxes, the borrower has elected to deposit with the lender a lump sum equal to the projected taxes for the 12-month period immediately following the date of such deposit.
With respect to Loan No. 42, Best Yet Storage – Shed Road, the borrower is required to escrow approximately $399 on a monthly basis upon the earlier of (i) the payment date occurring in November 2020 or (ii) a Lockbox Event. A Lockbox Event will commence on the earliest of (i) an event of default or (ii) the last day of any calendar quarter in which the debt service coverage ratio is less than 1.20x.
With respect to Loan No. 43, Lincoln Commonwealth Center, when the reserve falls below the cap, the borrower is required to escrow $933 on a monthly basis for tenant improvement and leasing commission reserves. The reserve is subject to a cap of $100,000. | |
(22) |
Represents a cap on the amount required to be deposited by the borrower pursuant to the related mortgage loan documents. In certain cases, during the term of the mortgage loan, the caps may be altered or terminated subject to conditions of the respective mortgage loan documents.
With respect to Loan No. 22, Westbay Office Park, the $728,534 TI/LC Reserve Cap will be reduced to $485,691 upon the occurrence of (i) the borrower providing the lender satisfactory evidence that tenant University of Nevada, Las Vegas has renewed or extended its lease for a term of at least five more additional years including rent and reimbursements that are equal to or better than the terms at the closing date and (ii) University of Nevada, Las Vegas has issued a signed estoppel certificate satisfactory to the lender evidencing the foregoing.
With respect to Loan No. 24, Alex Park South, the $5,000,000 TI/LC Reserve Cap will be reduced to $3,100,000 if Rochester General Hospital has renewed its lease term or has entered into a new lease or an amendment for the entire premises or the related borrower has entered into one or more replacement leases or approved subleases for the entire premises with tenants and at lease terms acceptable to the lender; provided that amounts in the Windstream reserve are taken into account for the sole purpose of calculating if the TI/LC Reserve Cap has been met. |
(23) |
In certain cases, the data for tenants occupying multiple spaces includes square footage only from the primary spaces sharing the same expiration date, and may not include smaller spaces with different expiration dates.
With respect to Loan No. 4, Liberty Portfolio, the Largest Tenant at the Liberty Center at Rio Salado property, Centene Management Company, LLC, has three separate expiration dates for its combined 352,988 square feet of space: a lease for 77,867 square feet will expire on January 22, 2028; a lease for 236,131 square feet will expire on January 31, 2028; and a lease for 38,990 square feet will expire on December 31, 2028.
With respect to Loan No. 6, Troy Place, the Fifth Largest Tenant, Dynamic Acquisition Co., LLC has two separate lease expiration dates for its combined 19,722 square feet of space: a lease for 18,602 square feet will expire on August 31, 2024 and a lease for 1,120 square feet will expire on September 30, 2019. |
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With respect to Loan No.12, Moffett Towers – Buildings E,F,G , the Largest Tenant, Amazon, leases 452,106 square feet within Buildings F and G with a lease expiration date of June 30, 2030, and 224,492 square feet within Building E with a lease expiration date of February 28, 2024. | |
(24) | With respect to the footnotes hereto, no footnotes have been provided with respect to tenants that are not among the five largest tenants by square footage for any mortgaged property. |
(25) |
The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease with respect to all or a portion of its leased space prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the subject lease.
With respect to Loan No. 2, Christiana Mall, the Second Largest Tenant, Cabela’s, has the right to raze its leased premises, so long as it restores the building pad back to the condition at which time the leased premises were delivered, caps utilities at their in-place levels and otherwise leaves its leased premises in a good, clean and attractive condition. Upon substantial completion of such razing, the Cabela’s lease will terminate (however, this provision does not apply in connection with any remodeling or rebuilding by the tenant).
With respect to Loan No. 5, Fidelis Portfolio, the Second Largest Tenant at the Victory Lakes Town Center mortgaged property, University of Texas Medical Branch, has the one-time right to terminate its lease August 31, 2023 with 12-months’ notice and the payment of a termination fee.
With respect to Loan No. 6, Troy Place, the Largest Tenant, GP Strategies Corporation, has a one-time option to contract by 6,700 square feet effective December 2023.
With respect to Loan No. 7, West Covina Village, the Third Largest Tenant, LA Fitness, has the one-time right to terminate its lease effective November 30, 2021 with six months’ notice.
With respect to Loan No. 10, Home Depot Technology Center, the Second Largest Tenant, Underwriters Laboratories, LLC, has a one-time option to terminate its lease effective as of August 31, 2026 with written notice of 360 days, but not more than 450 days and payment to the landlord in an amount equal to $727,786.
With respect to Loan No. 12, Moffett Towers — Buildings E,F,G, if the borrower fails to deliver Building F to the Largest Tenant, Amazon, in the required delivery condition on or before October 15, 2019 (as such date may be extended on a day-for day basis for tenant delays or up to four months and 15 days in the aggregate for force majeure delays), Amazon may terminate the lease for Building F upon at least 30 days’ notice, provided that the borrower does not deliver Building F to Amazon in the required delivery condition within such 30-day notice period and then within 15 days of Amazon’s second written notice to terminate after the initial 30 days expires. In order to deliver Building F to Amazon in the required delivery condition the borrower’s sole obligations are to ensure that Building F is free of tenants or occupants and any rights or claims of third parties under rights of first refusal, rights of first offer, or similar rights.
With respect to Loan No. 13, Shelbourne Global Portfolio II, the Largest Tenant at the White Clay mortgaged property, Chase Bank USA, has the right to terminate its lease on July 31, 2021 or July 31, 2022, so long as they provide 12-months’ notice along with a termination fee of unamortized TI/LCs, among other things.
With respect to Loan No.13, Shelbourne Global Portfolio II, the Fourth Largest Tenant at the White Clay mortgaged property, First Data Corporation, has a one-time to terminate up to 15,331 square feet of its space, effective on July 1, 2020, with prior written notice no later than March 3, 2020.
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With respect to Loan No. 14, Zenith Ridge, the Largest Tenant, Ansys, has the one-time right to terminate its lease effective December 2025 by providing at least 18 months’ notice and paying all unamortized tenant improvements allowance, brokerage fees and free rent, plus an additional $887,671, estimated to total approximately $5.75 million.
With respect to Loan No. 18, TX-OK Portfolio, the Largest Tenant at the South Houston Industrial mortgaged property, Deutsche Windtechnik, has a one-time option to terminate its lease in January 2022 with notice by August 2021. Additionally, the Largest Tenant at the Logistics Park at World Houston mortgaged property, Chaparral Insulation, has the right to terminate its lease in June 2020 with 90 days’ notice. |
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With respect to Loan No. 18, TX-OK Portfolio, the Largest Tenant and Second Largest Tenant at the Little York Industrial mortgaged property, Gulf Coast Conversions and APS Building Services, respectively, sublease space from Lufkin Industries. Gulf Coast Conversions subleases 27,876 square feet with a lease expiration of August 31, 2019, while APS building Services subleases 22,851 square feet with a lease expiration of March 31, 2022. Lufkin Industries has been in occupancy since 2013 and has a current blended rental rate of $9.96 per square foot. Gulf Coast Conversions and APS Building Services are subleasing their spaces for $5.76 and $6.83 per square foot, respectively. The spaces are underwritten based on the sublease terms.
With respect to Loan No. 22, Westbay Office Park, the Largest Tenant, University of Nevada, Las Vegas, School of Medicine, has a termination option if its government funding is completely eliminated such that there remains no funds available to fund the obligations of its lease.
With respect to Loan No. 22, Westbay Office Park, the Second Largest Tenant, Department of Employment, has a termination option if it loses its government funding in such a way that inhibits its ability to pay its lease obligations.
With respect to Loan No. 22, Westbay Office Park, the Fifth Largest Tenant, Department of Transportation, has a termination option if it loses its government funding in such a way that inhibits its ability to pay its lease obligations, and pays the rent owed for the month of termination.
With respect to Loan No. 23, One River Place, the Largest Tenant, AAA Club Alliance Inc., has a one-time option to terminate its lease effective as of June 30, 2030 after giving written notice no later than June 30, 2028.
With respect to Loan No. 24, Alex Park South, the Second Largest Tenant, MVP Health Care, Inc., has the right to terminate its lease effective as of May 31, 2023 with a termination payment of $1,500,000 by notifying the landlord of its intention to exercise at least 12-months prior to the termination date.
With respect to Loan No. 31, Friedman Portfolio, the Second Largest Tenant at the Coors Bypass property, Tuesday Morning, has a one-time option to terminate its lease, effective January 2022, upon 180 days’ written notice, if the tenant’s gross sales have not exceeded $1.5 million for any consecutive 12-month period during the first five years of its lease term. In connection with the exercise of such termination right, the tenant must pay a termination fee in the amount of $150,000.
With respect to Loan No. 36, College Park, the Second Largest Tenant, Keller Williams Foothill, has the right to terminate its lease on the last day of the 60th month of the term of its lease, November 30, 2020, with notice to the landlord of not less than nine months and not more than 12-months and payment of a $70,000 termination fee. | |
(26) | Each number identifies a group of related borrowers. |
(27) | The classification of the lockbox types is described in the preliminary prospectus. See “Description of the Mortgage Pool – Certain Calculations and Definitions – Definitions” for further details. |
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