EX-99.1 2 msc13c12_ex991-202306.htm msc13c12_ex991-202306.htm - Generated by SEC Publisher for SEC Filing

 

     

Distribution Date:

06/16/23

Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12

Determination Date:

06/12/23

 

Next Distribution Date:

07/17/23

 

Record Date:

05/31/23

Commercial Mortgage Pass-Through Certificates

 

 

Series 2013-C12

 

           

Table of Contents

 

 

Contacts

 

 

Section

Pages

Role

Party and Contact Information

 

 

Certificate Distribution Detail

2

Depositor

Morgan Stanley Capital I Inc.

 

 

Certificate Factor Detail

3

 

General Information Number

(212) 761-4000

cmbs_notices@morganstanley.com

Certificate Interest Reconciliation Detail

4

 

1585 Broadway | New York, NY 10036 | United States

 

 

 

 

Master Servicer

Wells Fargo Bank, N.A.

 

 

Exchangeable Certificate Detail

5

 

 

 

 

 

 

 

Investor Relations

 

REAM_InvestorRelations@WellsFargo.com

Additional Information

6

 

 

 

 

 

 

 

1901 Harrison Street | Oakland, CA 94612 | United States

 

 

Bond / Collateral Reconciliation - Cash Flows

7

Special Servicer

CWCapital Asset Management LLC

 

 

Bond / Collateral Reconciliation - Balances

8

 

Brian Hanson

(202) 715-9500

 

Current Mortgage Loan and Property Stratification

9-13

 

900 19th Street, NW, 8th Floor | Washington, DC 20006 | United States

 

Mortgage Loan Detail (Part 1)

14-15

Trust Advisor

BellOak, LLC

 

 

Mortgage Loan Detail (Part 2)

16-17

 

Attention: Reporting

 

Reporting@belloakadvisors.com

Principal Prepayment Detail

18

 

200 N. Pacific Coast Highway, Suite 1400 | El Segundo, CA 90245 | United States

 

Historical Detail

19

Certificate Administrator

Computershare Trust Company, N.A. as agent for Wells Fargo

 

 

 

 

 

Bank, N.A.

 

 

Delinquency Loan Detail

20

 

Corporate Trust Services (CMBS)

 

cctcmbsbondadmin@computershare.com;

Collateral Stratification and Historical Detail

21

 

 

 

trustadministrationgroup@computershare.com

 

 

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

 

Specially Serviced Loan Detail - Part 1

22

 

 

 

 

 

 

Trustee

U.S. Bank National Association

 

 

Specially Serviced Loan Detail - Part 2

23-24

 

General Contact

(312) 332-7457

 

Modified Loan Detail

25

 

190 South LaSalle Street, 7th Floor | Chicago, IL 60603 | United States

 

Historical Liquidated Loan Detail

26

 

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

27

 

 

 

 

Interest Shortfall Detail - Collateral Level

28

 

 

 

 

Supplemental Notes

29

 

 

 

 

 

This report is compiled by Computershare Trust Company, N.A. from information provided by third parties. Computershare Trust Company, N.A. has not independently confirmed the accuracy of the information.

Please visit www.ctslink.com for additional information and special notices. In addition, certificateholders may register online for email notification when special notices are posted. For information or assistance please call 866-846-4526.

   

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Page 1 of 29

 


 

 

                         

 

 

 

 

Certificate Distribution Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

Original

 

 

Pass-Through

 

 

Principal

Interest

    Prepayment

 

 

 

Credit

Credit

Class (3)

CUSIP

Rate (2)

   Original Balance                             Beginning Balance

Distribution

Distribution

    Penalties

     Realized Losses            Total Distribution            Ending Balance

Support¹        Support¹

 

A-1

61762XAQ0

1.313000%

80,300,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-2

61762XAR8

3.001000%

161,200,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-SB

61762XAS6

3.824000%

107,200,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-3

61762XAT4

3.973000%

260,000,000.00

7,543,040.83

7,543,040.83

24,973.75

0.00

0.00

7,568,014.58

0.00

0.00%

30.00%

A-4

61762XAU1

4.259000%

284,721,000.00

284,721,000.00

85,100,546.69

1,010,522.28

0.00

0.00

86,111,068.97

199,620,453.31

65.73%

30.00%

A-S

61762XAW7

4.482000%

105,297,000.00

105,297,000.00

0.00

393,284.30

0.00

0.00

393,284.30

105,297,000.00

47.66%

21.75%

B

61762XAX5

5.102216%

74,983,000.00

74,983,000.00

0.00

318,816.24

0.00

0.00

318,816.24

74,983,000.00

34.78%

15.88%

C

61762XAZ0

5.102216%

52,648,000.00

52,648,000.00

0.00

223,851.24

0.00

0.00

223,851.24

52,648,000.00

25.74%

11.75%

D

61762XAC1

5.102216%

52,648,000.00

52,648,000.00

0.00

223,851.24

0.00

0.00

223,851.24

52,648,000.00

16.71%

7.63%

E

61762XAE7

5.102216%

19,145,000.00

19,145,000.00

0.00

81,401.61

0.00

0.00

81,401.61

19,145,000.00

13.42%

6.13%

F

61762XAG2

3.709000%

20,740,000.00

20,740,000.00

0.00

64,103.88

0.00

0.00

64,103.88

20,740,000.00

9.86%

4.50%

G

61762XAJ6

3.709000%

14,359,000.00

14,359,000.00

0.00

44,381.28

0.00

0.00

44,381.28

14,359,000.00

7.39%

3.38%

H

61762XAL1

3.709000%

43,075,957.00

43,075,957.00

0.00

23,061.62

0.00

0.00

23,061.62

43,075,957.00

0.00%

0.00%

R

61762XAN7

0.000000%

1.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

0.00%

Regular SubTotal

 

1,276,316,958.00

675,159,997.83

92,643,587.52

2,408,247.44

0.00

0.00

95,051,834.96

582,516,410.31

 

 

 

 

X-A

61762XAV9

0.789580%

998,718,000.00

397,561,040.83

0.00

261,588.38

0.00

0.00

261,588.38

304,917,453.31

 

 

X-C

61762XAA5

1.393216%

78,174,957.00

78,174,957.00

0.00

90,762.19

0.00

0.00

90,762.19

78,174,957.00

 

 

Notional SubTotal

 

1,076,892,957.00

475,735,997.83

0.00

352,350.57

0.00

0.00

352,350.57

383,092,410.31

 

 

 

Deal Distribution Total

 

 

 

92,643,587.52

2,760,598.01

0.00

0.00

95,404,185.53

 

 

 

 

(1)

Calculated by taking (A) the sum of the ending certificate balance of all classes in a series less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and

 

dividing the result by (A).

 

 

 

 

 

 

 

 

 

 

 

(2)

Pass-Through Rates with respect to any Class of Certificates on next month's Payment Date is expected to be the same as the current respective Pass-Through Rate, subject to any modifications on the underlying loans, any change in certificate or pool balance, any change in

 

the underlying index (if and as applicable), and any other matters provided in the governing documents.

 

 

 

 

 

 

 

 

(3)

Class A-S, Class B, Class C all represent the "Regular Interest" of these respective classes. For details on how the balances and payments of these "Regular Interests" are split between their respective certificates and the Exchangeable Class PST, please refer to page 5.

 

 

 

 

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Page 2 of 29

 


 

 

                     

 

 

 

 

Certificate Factor Detail

 

 

 

 

 

 

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

Interest Shortfalls

Interest

 

 

 

 

Class

CUSIP

Beginning Balance

Principal Distribution

Interest Distribution

/ (Paybacks)

Shortfalls

Prepayment Penalties

Losses

Total Distribution

Ending Balance

Regular Certificates

 

 

 

 

 

 

 

 

 

A-1

61762XAQ0

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-2

61762XAR8

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-SB

61762XAS6

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-3

61762XAT4

29.01169550

29.01169550

0.09605288

0.00000000

0.00000000

0.00000000

0.00000000

29.10774838

0.00000000

A-4

61762XAU1

1,000.00000000

298.89100800

3.54916666

0.00000000

0.00000000

0.00000000

0.00000000

302.44017466

701.10899200

A-S

61762XAW7

1,000.00000000

0.00000000

3.73500005

0.00000000

0.00000000

0.00000000

0.00000000

3.73500005

1,000.00000000

B

61762XAX5

1,000.00000000

0.00000000

4.25184695

0.00000000

0.00000000

0.00000000

0.00000000

4.25184695

1,000.00000000

C

61762XAZ0

1,000.00000000

0.00000000

4.25184698

0.00000000

0.00000000

0.00000000

0.00000000

4.25184698

1,000.00000000

D

61762XAC1

1,000.00000000

0.00000000

4.25184698

0.00000000

0.00000000

0.00000000

0.00000000

4.25184698

1,000.00000000

E

61762XAE7

1,000.00000000

0.00000000

4.25184696

0.00000000

0.00000000

0.00000000

0.00000000

4.25184696

1,000.00000000

F

61762XAG2

1,000.00000000

0.00000000

3.09083317

0.00000000

0.00000000

0.00000000

0.00000000

3.09083317

1,000.00000000

G

61762XAJ6

1,000.00000000

0.00000000

3.09083362

0.00000000

0.00000000

0.00000000

0.00000000

3.09083362

1,000.00000000

H

61762XAL1

1,000.00000000

0.00000000

0.53537104

2.55546220

88.02370171

0.00000000

0.00000000

0.53537104

1,000.00000000

R

61762XAN7

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

 

Notional Certificates

 

 

 

 

 

 

 

 

 

X-A

61762XAV9

398.07136832

0.00000000

0.26192417

0.00000000

0.00000000

0.00000000

0.00000000

0.26192417

305.30885927

X-C

61762XAA5

1,000.00000000

0.00000000

1.16101362

0.00000000

0.00000000

0.00000000

0.00000000

1.16101362

1,000.00000000

 

 

 

 

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Page 3 of 29

 


 

 

                         

 

 

 

 

Certificate Interest Reconciliation Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

Accrued

Net Aggregate

Distributable

Interest

 

Interest

 

 

 

 

 

Accrual

Prior Interest

Certificate

Prepayment

Certificate

Shortfalls /

Payback of Prior

Distribution

Interest

Cumulative

 

Class

Accrual Period

Days

Shortfalls

Interest

Interest Shortfall

Interest

(Paybacks)

Realized Losses

Amount

Distribution

Interest Shortfalls

 

A-1

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-2

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-SB

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-3

05/01/23 - 05/30/23

30

0.00

24,973.75

0.00

24,973.75

0.00

0.00

0.00

24,973.75

0.00

 

A-4

05/01/23 - 05/30/23

30

0.00

1,010,522.28

0.00

1,010,522.28

0.00

0.00

0.00

1,010,522.28

0.00

 

X-A

05/01/23 - 05/30/23

30

0.00

261,588.38

0.00

261,588.38

0.00

0.00

0.00

261,588.38

0.00

 

X-C

05/01/23 - 05/30/23

30

0.00

90,762.19

0.00

90,762.19

0.00

0.00

0.00

90,762.19

0.00

 

A-S

05/01/23 - 05/30/23

30

0.00

393,284.30

0.00

393,284.30

0.00

0.00

0.00

393,284.30

0.00

 

B

05/01/23 - 05/30/23

30

0.00

318,816.24

0.00

318,816.24

0.00

0.00

0.00

318,816.24

0.00

 

C

05/01/23 - 05/30/23

30

0.00

223,851.24

0.00

223,851.24

0.00

0.00

0.00

223,851.24

0.00

 

D

05/01/23 - 05/30/23

30

0.00

223,851.24

0.00

223,851.24

0.00

0.00

0.00

223,851.24

0.00

 

E

05/01/23 - 05/30/23

30

0.00

81,401.61

0.00

81,401.61

0.00

0.00

0.00

81,401.61

0.00

 

F

05/01/23 - 05/30/23

30

0.00

64,103.88

0.00

64,103.88

0.00

0.00

0.00

64,103.88

0.00

 

G

05/01/23 - 05/30/23

30

0.00

44,381.28

0.00

44,381.28

0.00

0.00

0.00

44,381.28

0.00

 

H

05/01/23 - 05/30/23

30

3,681,626.21

133,140.60

0.00

133,140.60

110,078.98

0.00

0.00

23,061.62

3,791,705.19

 

Totals

 

 

3,681,626.21

2,870,676.99

0.00

2,870,676.99

110,078.98

0.00

0.00

2,760,598.01

3,791,705.19

 

 

 

 

 

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Page 4 of 29

 


 

 

                         

 

 

 

 

Exchangeable Certificate Detail

 

 

 

 

 

 

 

 

Pass-Through

 

 

 

 

Prepayment

 

 

 

 

 

Class

CUSIP

Rate

Original Balance

    Beginning Balance                    Principal Distribution             Interest Distribution

Penalties

 

Losses

 

Total Distribution

Ending Balance

Regular Interest

 

 

 

 

 

 

 

 

 

 

 

 

A-S (Cert)

61762XAW7

4.482000%

105,297,000.00

105,297,000.00

0.00

393,284.30

0.00

 

0.00

 

393,284.30

105,297,000.00

A-S (PST)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

 

0.00

0.00

B (Cert)

61762XAX5

5.102216%

74,983,000.00

74,983,000.00

0.00

318,816.24

0.00

 

0.00

 

318,816.24

74,983,000.00

B (PST)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

 

0.00

0.00

C (Cert)

61762XAZ0

5.102216%

52,648,000.00

52,648,000.00

0.00

223,851.24

0.00

 

0.00

 

223,851.24

52,648,000.00

C (PST)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

 

0.00

0.00

Regular Interest Total

 

 

232,928,000.03

232,928,000.00

0.00

935,951.78

0.00

 

0.00

 

935,951.78

232,928,000.00

 

Exchangeable Certificate Details

 

 

 

 

 

 

 

 

 

 

 

PST

61762XAY3

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

 

0.00

0.00

Exchangeable Certificates Total

 

0.01

0.00

0.00

0.00

0.00

 

0.00

 

0.00

0.00

 

 

 

 

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Page 5 of 29

 


 

 

     

 

Additional Information

 

Total Available Distribution Amount (1)

95,404,185.53

 

(1) The Available Distribution Amount includes any Prepayment Premiums.

 

 

 

 

 

 

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Page 6 of 29

 


 

 

       

Bond / Collateral Reconciliation - Cash Flows

 

 

Total Funds Collected

 

Total Funds Distributed

 

Interest

 

Fees

 

Interest Paid or Advanced

2,885,160.03

Master Servicing Fee

11,197.79

Interest Reductions due to Nonrecoverability Determination

0.00

Certificate Administrator Fee

1,691.84

Interest Adjustments

0.00

Trustee Fee

226.74

Deferred Interest

0.00

CREFC® Intellectual Property Royalty License Fee

290.69

ARD Interest

0.00

Trust Advisor Fee

646.07

Net Prepayment Interest Excess / (Shortfall)

0.00

Pari Passu Servicing Fee

429.97

Extension Interest

0.00

 

 

Interest Reserve Withdrawal

0.00

 

 

Total Interest Collected

2,885,160.03

Total Fees

14,483.10

 

Principal

 

Expenses/Reimbursements

 

Scheduled Principal

6,372,956.58

Reimbursement for Interest on Advances

0.00

Unscheduled Principal Collections

 

ASER Amount

84,258.38

Principal Prepayments

86,270,630.94

Special Servicing Fees (Monthly)

25,820.60

Collection of Principal after Maturity Date

0.00

Special Servicing Fees (Liquidation)

0.00

Recoveries From Liquidations and Insurance Proceeds

0.00

Special Servicing Fees (Work Out)

0.00

Excess of Prior Principal Amounts Paid

0.00

Legal Fees

0.00

Curtailments

0.00

Rating Agency Expenses

0.00

Negative Amortization

0.00

Taxes Imposed on Trust Fund

0.00

Principal Adjustments

0.00

Non-Recoverable Advances

0.00

 

 

Workout Delayed Reimbursement Amounts

0.00

 

 

Other Expenses

0.00

Total Principal Collected

92,643,587.52

Total Expenses/Reimbursements

110,078.98

 

 

 

Interest Reserve Deposit

0.00

 

Other

 

Payments to Certificateholders and Others

 

Prepayment Penalties / Yield Maintenance

0.00

Interest Distribution

2,760,598.01

Excess Liquidation Proceeds

0.00

Principal Distribution

92,643,587.52

Borrower Option Extension Fees

0.00

Prepayment Penalties / Yield Maintenance

0.00

 

 

Borrower Option Extension Fees

0.00

Total Other Collected

0.00

Total Payments to Certificateholders and Others

95,404,185.53

Total Funds Collected

95,528,747.55

Total Funds Distributed

95,528,747.61

 

 

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Page 7 of 29

 


 

 

           

 

 

Bond / Collateral Reconciliation - Balances

 

 

 

 

Collateral Reconciliation

 

Certificate Reconciliation

 

 

 

 

Total

 

Total

Beginning Scheduled Collateral Balance

675,159,997.86

675,159,997.86

Beginning Certificate Balance

675,159,997.83

(-) Scheduled Principal Collections

6,372,956.58

6,372,956.58

(-) Principal Distributions

92,643,587.52

(-) Unscheduled Principal Collections

86,270,630.94

86,270,630.94

(-) Realized Losses

0.00

(-) Principal Adjustments (Cash)

0.00

0.00

Realized Loss and Realized Loss Adjustments on Collateral

0.00

(-) Principal Adjustments (Non-Cash)

0.00

0.00

Current Period NRA¹

0.00

(-) Realized Losses from Collateral

0.00

0.00

Current Period WODRA¹

0.00

(-) Other Adjustments²

0.00

0.00

Principal Used to Pay Interest

0.00

 

 

 

 

Non-Cash Principal Adjustments

0.00

Ending Scheduled Collateral Balance

582,516,410.34

582,516,410.34

Certificate Other Adjustments**

0.00

Beginning Actual Collateral Balance

677,304,110.29

677,304,110.29

Ending Certificate Balance

582,516,410.31

Ending Actual Collateral Balance

584,880,537.90

584,880,537.90

 

 

 

 

 

 

 

NRA/WODRA Reconciliation

 

Under / Over Collateralization Reconciliation

 

 

 

Non-Recoverable Advances (NRA) from

Workout Delayed Reimbursement of Advances

 

 

 

 

Principal

(WODRA) from Principal

Beginning UC / (OC)

(0.03)

Beginning Cumulative Advances

0.00

0.00

UC / (OC) Change

0.00

Current Period Advances

0.00

0.00

Ending UC / (OC)

(0.03)

Ending Cumulative Advances

0.00

0.00

Net WAC Rate

5.10%

 

 

 

 

UC / (OC) Interest

0.00

(1)

Current Period NRA and WODRA displayed will represent the portion applied as Realized Losses to the bonds.

 

 

 

(2)

Other Adjustments value will represent miscellaneous items that may impact the Scheduled Balance of the collateral.

 

 

 

**

A negative value for Certificate Other Adjustments represents the payback of prior Principal Shortfalls, if any.

 

 

 

 

 

 

 

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Page 8 of 29

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Scheduled Balance

 

 

 

 

 

Debt Service Coverage Ratio¹

 

 

 

 

Scheduled

# Of

Scheduled

% Of

 

 

Weighted Avg

Debt Service Coverage

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Balance

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Ratio

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Defeased

14

124,433,647.13

21.36%

5

4.9361

NAP

Defeased

14

124,433,647.13

21.36%

5

4.9361

NAP

 

10,000,000 or less

14

77,264,226.30

13.26%

3

5.1281

1.836290

1.30 or less

10

234,971,014.92

40.34%

2

4.9250

1.025799

10,000,001 to 20,000,000

4

55,569,649.80

9.54%

2

4.7949

1.831942

1.31-1.40

1

32,986,896.14

5.66%

0

4.4100

1.312400

20,000,001 to 30,000,000

3

74,389,175.44

12.77%

2

4.8450

1.257773

1.41-1.50

1

34,480,646.89

5.92%

3

5.4060

1.423264

30,000,001 to 40,000,000

4

132,819,430.78

22.80%

2

5.1363

1.400661

1.51-1.60

1

7,172,844.83

1.23%

3

5.3700

1.564600

40,000,001 to 50,000,000

1

49,291,179.74

8.46%

2

5.2000

1.122800

1.61-1.70

7

66,699,037.28

11.45%

1

4.5570

1.658867

50,000,001 to 60,000,000

0

0.00

0.00%

0

0.0000

0.000000

1.71-1.80

0

0.00

0.00%

0

0.0000

0.000000

60,000,001 to 80,000,000

1

68,749,101.15

11.80%

2

4.3700

1.203000

1.81-1.90

1

3,775,903.76

0.65%

4

5.5200

1.875000

80,000,001 to 120,000,000

0

0.00

0.00%

0

0.0000

0.000000

1.91-2.01

3

45,611,973.15

7.83%

3

5.1762

2.000017

 

120,000,001 or greater

0

0.00

0.00%

0

0.0000

0.000000

2.02-2.10

0

0.00

0.00%

0

0.0000

0.000000

 

Totals

41

582,516,410.34

100.00%

3

4.9376

1.506439

2.11-2.20

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.21-2.30

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.31-2.40

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.41-2.60

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.61-2.70

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.71-3.00

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

3.01 or greater

3

32,384,446.24

5.56%

4

5.3579

3.327421

 

 

 

 

 

 

 

 

Totals

41

582,516,410.34

100.00%

3

4.9376

1.506439

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is

 

used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

(4)

Note: There are no Hyper-Amortization Loans included in the Mortgage Pool.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 9 of 29

 


 

 

                           

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

 

State³

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type³

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

 

 

State

 

 

 

WAM²

WAC

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

Property Type

 

 

 

WAM²

WAC

 

 

 

 

 

 

 

 

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

 

Defeased

25

124,433,647.13

21.36%

5

4.9361

NAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defeased

25

124,433,647.13

21.36%

5

4.9361

NAP

California

12

57,844,085.69

9.93%

3

5.3157

2.369420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lodging

3

63,359,439.82

10.88%

2

5.2551

1.368455

Florida

4

71,110,091.19

12.21%

1

4.2395

1.315230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mixed Use

1

2,852,864.08

0.49%

3

5.5900

1.688700

Georgia

1

6,721,654.21

1.15%

3

5.4900

3.517300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multi-Family

4

26,397,104.33

4.53%

3

5.1228

1.290514

Illinois

1

49,291,179.74

8.46%

2

5.2000

1.122800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office

3

103,725,524.33

17.81%

2

5.0876

1.066639

Kentucky

1

6,451,724.93

1.11%

4

5.2600

1.668700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

20

255,885,038.70

43.93%

2

4.7623

1.443363

Michigan

1

2,852,864.08

0.49%

3

5.5900

1.688700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Self Storage

1

5,862,792.03

1.01%

3

5.3850

3.420500

Nevada

1

25,262,493.49

4.34%

4

5.4900

0.484100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Totals

57

582,516,410.34

100.00%

3

4.9376

1.506439

New York

3

111,948,189.92

19.22%

2

5.0816

1.134732

 

 

 

 

 

 

 

 

North Dakota

3

19,945,379.40

3.42%

3

5.0784

1.168182

 

 

 

 

 

 

 

 

Pennsylvania

3

30,559,393.62

5.25%

3

5.2664

1.553611

 

 

 

 

 

 

 

 

Texas

1

7,346,605.87

1.26%

2

5.4100

1.050600

 

 

 

 

 

 

 

 

Utah

1

68,749,101.15

11.80%

2

4.3700

1.203000

 

 

 

 

 

 

 

 

Totals

57

582,516,410.34

100.00%

3

4.9376

1.506439

 

 

 

 

 

 

 

 

 

Note: Please refer to footnotes on the next page of the report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

© 2021 Computershare. All rights reserved. Confidential.

 

 

 

 

 

 

 

 

 

Page 10 of 29

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Note Rate

 

 

 

 

 

Seasoning

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Note Rate

 

 

 

WAM²

WAC

 

Seasoning

 

 

 

WAM²

WAC

 

 

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Defeased

14

124,433,647.13

21.36%

5

4.9361

NAP

Defeased

14

124,433,647.13

21.36%

5

4.9361

NAP

 

4.000% or less

5

49,839,855.07

8.56%

0

3.9120

1.532971

12 months or less

0

0.00

0.00%

0

0.0000

0.000000

 

4.001% to 4.500%

2

101,735,997.29

17.46%

1

4.3830

1.238472

13 to 24 months

0

0.00

0.00%

0

0.0000

0.000000

 

4.501% to 5.000%

2

16,372,272.54

2.81%

2

4.6210

1.100945

25 to 36 months

0

0.00

0.00%

0

0.0000

0.000000

 

5.001% to 5.500%

16

283,505,870.47

48.67%

3

5.3216

1.513218

37 to 48 months

0

0.00

0.00%

0

0.0000

0.000000

 

5.501% or greater

2

6,628,767.84

1.14%

4

5.5501

1.794821

49 months or greater

27

458,082,763.21

78.64%

2

4.9380

1.443689

 

Totals

41

582,516,410.34

100.00%

3

4.9376

1.506439

Totals

41

582,516,410.34

100.00%

3

4.9376

1.506439

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

(4)

Note: There are no Hyper-Amortization Loans included in the Mortgage Pool.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

© 2021 Computershare. All rights reserved. Confidential.

 

 

 

 

 

 

 

 

 

Page 11 of 29

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

Anticipated Remaining Term (ARD and Balloon Loans)

 

 

 

Remaining Amortization Term (ARD and Balloon Loans)

 

 

 

Anticipated

# Of

Scheduled

% Of

 

 

Weighted Avg

Remaining

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Remaining Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Amortization Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Defeased

13

121,471,563.48

20.85%

2

4.9224

NAP

Defeased

13

121,471,563.48

20.85%

2

4.9224

NAP

 

60 months or less

27

458,082,763.21

78.64%

2

4.9380

1.443689

Interest Only

2

29,800,000.00

5.12%

4

5.2228

2.819158

61 months to 84 months

0

0.00

0.00%

0

0.0000

0.000000

237 months or less

25

428,282,763.21

73.52%

2

4.9182

1.347983

85 months to 114 months

0

0.00

0.00%

0

0.0000

0.000000

301 months to 350 months

0

0.00

0.00%

0

0.0000

0.000000

115 months to 120 months

0

0.00

0.00%

0

0.0000

0.000000

351 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

121 months or greater

0

0.00

0.00%

0

0.0000

0.000000

Totals

40

579,554,326.69

99.49%

2

4.9348

1.507789

 

Totals

40

579,554,326.69

99.49%

2

4.9348

1.507789

 

 

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

(4)

Note: There are no Hyper-Amortization Loans included in the Mortgage Pool.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 12 of 29

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Age of Most Recent NOI

 

 

 

 

Remaining Stated Term (Fully Amortizing Loans)

 

 

 

Age of Most

# Of

Scheduled

% Of

 

 

Weighted Avg

Age of Most

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Recent NOI

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Recent NOI

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Defeased

14

124,433,647.13

21.36%

5

4.9361

NAP

Defeased

1

2,962,083.65

0.51%

124

5.5000

NAP

Underwriter's Information

5

71,615,839.60

12.29%

1

4.6313

1.546121

60 months or less

0

0.00

0.00%

0

0.0000

0.000000

 

12 months or less

22

386,466,923.61

66.34%

2

4.9949

1.424707

79 to 84 months

0

0.00

0.00%

0

0.0000

0.000000

 

13 months to 24 months

0

0.00

0.00%

0

0.0000

0.000000

85 to 114 months

0

0.00

0.00%

0

0.0000

0.000000

 

25 months or greater

0

0.00

0.00%

0

0.0000

0.000000

115 to 120 months

0

0.00

0.00%

0

0.0000

0.000000

 

Totals

41

582,516,410.34

100.00%

3

4.9376

1.506439

121 to 240 months

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

Totals

1

2,962,083.65

0.51%

124

5.5000

1.242336

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

(4)

Note: There are no Hyper-Amortization Loans included in the Mortgage Pool.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 13 of 29

 


 

 

                                 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

Prop

 

 

 

 

 

 

 

 

Original                   Adjusted

Beginning

Ending

Paid

 

 

 

Type

 

 

Interest

 

Scheduled

Scheduled

   Principal

Anticipated    Maturity                  Maturity

Scheduled

Scheduled

Through

 

Pros ID

Loan ID

(1)

City

State             Accrual Type           Gross Rate

Interest

Principal

     Adjustments         Repay Date       Date

Date

Balance

Balance

Date

 

2A

28000367

OF

Brooklyn

NY

Actual/360

5.406%

161,038.17

112,780.78

0.00

N/A

09/01/23

--

34,593,427.67

34,480,646.89

06/01/23

 

2B

200280367

 

 

 

Actual/360

5.406%

161,038.17

112,780.78

0.00

N/A

09/01/23

--

34,593,427.67

34,480,646.89

06/01/23

 

3

1340557

RT

Salt Lake City

UT

Actual/360

4.370%

259,326.89

164,814.94

0.00

N/A

08/01/23

--

68,913,916.09

68,749,101.15

06/01/23

 

4

300691005

LO

Chicago

IL

Actual/360

5.200%

221,458.87

166,137.12

0.00

N/A

08/01/23

--

49,457,316.86

49,291,179.74

06/01/23

 

5A

453000179

RT

Clearwater

FL

Actual/360

3.912%

42,876.42

23,348.04

0.00

N/A

06/01/23

--

12,728,010.40

12,704,662.36

02/01/23

 

5B

453000181

 

 

 

Actual/360

3.912%

97,423.45

53,051.21

0.00

N/A

06/01/23

--

28,920,477.60

28,867,426.39

02/01/23

 

5C

453000183

 

 

 

Actual/360

3.912%

1,460.92

795.53

0.00

N/A

06/01/23

--

433,678.02

432,882.49

02/01/23

 

5D

453000185

 

 

 

Actual/360

3.912%

16,224.79

8,835.08

0.00

N/A

06/01/23

--

4,816,382.57

4,807,547.49

01/01/22

 

5E

453000187

 

 

 

Actual/360

3.912%

10,216.83

5,563.50

0.00

N/A

06/01/23

--

3,032,899.84

3,027,336.34

01/01/22

 

7

300961007

Various      Various

CA

Actual/360

5.310%

141,625.32

102,039.19

0.00

N/A

09/01/23

--

30,973,280.05

30,871,240.86

06/01/23

 

8

1340333

RT

Burke

VA

Actual/360

5.140%

155,654.80

35,167,396.36

0.00

N/A

09/01/23

--

35,167,396.36

0.00

06/01/23

 

10

1238578

OF

New York

NY

Actual/360

4.410%

125,478.54

55,509.45

0.00

N/A

06/05/23

--

33,042,405.59

32,986,896.14

05/05/23

 

11

300961011

MU

Norcross

GA

Actual/360

5.250%

107,541.77

78,225.02

0.00

N/A

10/01/23

--

23,788,040.21

23,709,815.19

06/01/23

 

12

300961012

RT

North Las Vegas

NV

Actual/360

5.490%

119,667.09

50,481.43

0.00

N/A

10/01/23

--

25,312,974.92

25,262,493.49

10/01/20

 

13

300961013

MH

Various

WI

Actual/360

4.407%

82,122.51

51,791.31

0.00

N/A

07/01/23

--

21,640,135.14

21,588,343.83

06/01/23

 

15

300961015

RT

Lansdale

PA

Actual/360

5.370%

93,874.37

41,563.25

0.00

N/A

09/01/23

--

20,300,818.81

20,259,255.56

06/01/23

 

16

300961016

RT

Avon

CT

Actual/360

4.820%

92,194.12

22,212,478.17

0.00

N/A

09/01/23

--

22,212,478.17

0.00

06/01/23

 

19

300961019

RT

Redwood City

CA

Actual/360

5.305%

90,450.25

0.00

0.00

N/A

10/01/23

--

19,800,000.00

19,800,000.00

06/01/23

 

20

1341048

LO

Sherman Oaks

CA

Actual/360

5.100%

65,737.75

29,278.46

0.00

N/A

07/01/23

--

14,968,748.04

14,939,469.58

06/01/23

 

25

300961025

MH

Flat Rock

MI

Actual/360

5.050%

48,766.42

11,214,252.68

0.00

N/A

09/01/23

--

11,214,252.68

0.00

06/01/23

 

26

300961026

RT

Winter Haven

FL

Actual/360

4.650%

46,664.44

22,430.89

0.00

N/A

08/01/23

--

11,653,971.14

11,631,540.25

11/01/22

 

27

1340893

MF

Grand Forks

ND

Actual/360

5.040%

49,712.59

21,066.45

0.00

N/A

09/01/23

--

11,454,513.64

11,433,447.19

06/01/23

 

28

300961028

MF

Katy

TX

Actual/360

5.500%

49,007.48

20,603.45

0.00

N/A

10/01/23

--

10,347,619.94

10,327,016.49

06/01/23

 

32

300961032

RT

Frisco

TX

Actual/360

4.570%

29,903.43

27,477.42

0.00

N/A

07/01/23

--

7,598,811.44

7,571,334.02

06/01/23

 

33

1340610

RT

New York

NY

Actual/360

5.060%

43,572.22

0.00

0.00

N/A

09/01/23

--

10,000,000.00

10,000,000.00

06/01/23

 

34

1340894

MF

Grand Forks

ND

Actual/360

5.130%

37,669.70

15,447.78

0.00

N/A

09/01/23

--

8,527,379.99

8,511,932.21

06/01/23

 

35

300961035

LO

Katy

TX

Actual/360

5.410%

34,263.70

8,312.29

0.00

N/A

08/01/23

--

7,354,918.16

7,346,605.87

06/01/23

 

39

300961039

SS

Plantation

FL

Actual/360

4.955%

36,267.85

0.00

0.00

N/A

08/01/23

--

8,500,000.00

8,500,000.00

06/01/23

 

 

 

 

 

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Page 14 of 29

 


 

 

                                 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

Prop

 

 

 

 

 

 

 

 

Original                Adjusted

Beginning

Ending

Paid

 

 

 

Type

 

 

Interest

 

Scheduled

Scheduled

     Principal

Anticipated    Maturity               Maturity

Scheduled

Scheduled

Through

 

Pros ID

Loan ID

(1)

City

State        Accrual Type             Gross Rate

Interest

Principal

      Adjustments        Repay Date        Date

Date

Balance

Balance

Date

 

41

300961041

RT

Fresno

CA

Actual/360

5.370%

33,221.84

11,550.93

0.00

N/A

09/01/23

--

7,184,395.76

7,172,844.83

06/01/23

 

42

300961042

LO

Cartersville

GA

Actual/360

5.490%

31,840.59

13,532.35

0.00

N/A

09/01/23

--

6,735,186.56

6,721,654.21

06/01/23

 

43

300961043

MH

Various

WI

Actual/360

4.407%

24,387.80

15,380.40

0.00

N/A

07/01/23

--

6,426,439.02

6,411,058.62

06/01/23

 

44

300961044

SS

Royal Palm Beach

FL

Actual/360

5.450%

31,245.76

13,362.06

0.00

N/A

10/01/23

--

6,657,870.84

6,644,508.78

06/01/23

 

45

300961045

MF

Lexington

KY

Actual/360

5.260%

29,283.27

13,367.04

0.00

N/A

10/01/23

--

6,465,091.97

6,451,724.93

06/01/23

 

46

300961046

SS

Los Angeles

CA

Actual/360

5.522%

30,854.53

6,488,784.97

0.00

N/A

09/01/23

--

6,488,784.97

0.00

06/01/23

 

49

300961049

SS

Coral Springs

FL

Actual/360

5.385%

27,241.90

11,999.74

0.00

N/A

09/01/23

--

5,874,791.77

5,862,792.03

06/01/23

 

51

300961051

RT

Hermitage

PA

Actual/360

5.500%

26,382.49

11,091.58

0.00

N/A

10/01/23

--

5,570,497.35

5,559,405.77

06/01/23

 

53

300961053

RT

Hanover

PA

Actual/360

4.550%

18,641.50

17,113.66

0.00

N/A

08/01/23

--

4,757,845.95

4,740,732.29

06/01/23

 

55

300961055

SS

Naples

FL

Actual/360

4.955%

26,454.19

0.00

0.00

N/A

08/01/23

--

6,200,000.00

6,200,000.00

06/01/23

 

56

300961056

SS

North Hollywood

CA

Actual/360

5.522%

24,042.50

5,056,197.29

0.00

N/A

09/01/23

--

5,056,197.29

0.00

06/01/23

 

58

300961058

SS

Various

CA

Actual/360

4.740%

23,000.19

0.00

0.00

N/A

08/01/23

--

5,635,000.00

5,635,000.00

06/01/23

 

61

300961061

MH

Lockport

NY

Actual/360

5.190%

17,190.99

8,039.70

0.00

N/A

10/01/23

--

3,846,575.11

3,838,535.41

06/01/23

 

62

1340675

RT

Harlingen

TX

Actual/360

5.500%

14,108.54

16,846.39

0.00

N/A

10/01/33

--

2,978,930.04

2,962,083.65

06/01/23

 

63

1340450

RT

Pembroke Pines

FL

Actual/360

5.520%

17,983.82

7,509.37

0.00

N/A

10/01/23

--

3,783,413.13

3,775,903.76

06/01/23

 

65

1340480

OF

Santa Monica

CA

Actual/360

4.570%

15,239.31

7,238.22

0.00

N/A

07/01/23

--

3,872,487.32

3,865,249.10

06/01/23

 

66

1340853

RT

Rowlett

TX

Actual/360

5.130%

13,845.42

3,134,221.14

0.00

N/A

09/01/23

--

3,134,221.14

0.00

06/01/23

 

67

300961067

RT

Las Vegas

NV

Actual/360

5.060%

13,758.32

3,157,588.75

0.00

N/A

09/01/23

--

3,157,588.75

0.00

06/01/23

 

69

300961069

MU

Livonia

MI

Actual/360

5.590%

13,776.59

9,143.94

0.00

N/A

09/01/23

--

2,862,008.02

2,852,864.08

06/01/23

 

70

300961070

MH

St Johns

MI

Actual/360

5.623%

13,812.37

2,852,601.13

0.00

N/A

09/01/23

06/01/23

2,852,601.13

0.00

06/01/23

 

71

300961071

RT

Pendleton

OR

Actual/360

4.070%

7,874.55

5,606.32

0.00

N/A

08/01/23

--

2,246,838.78

2,241,232.46

06/01/23

 

72

300961072

MH

Coloma

MI

Actual/360

5.580%

9,734.70

2,025,951.96

0.00

N/A

09/01/23

06/01/23

2,025,951.96

0.00

06/01/23

 

Totals

 

 

 

 

 

 

2,885,160.03

92,643,587.52

0.00

 

 

 

675,159,997.86

582,516,410.34

 

 

1 Property Type Codes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HC - Health Care

 

MU - Mixed Use

WH - Warehouse

 

MF - Multi-Family

 

 

 

 

 

 

 

 

 

SS - Self Storage

 

LO - Lodging

RT - Retail

 

SF - Single Family Rental

 

 

 

 

 

 

 

 

98 - Other

 

IN - Industrial

OF - Office

 

MH - Mobile Home Park

 

 

 

 

 

 

 

 

SE - Securities

 

CH - Cooperative Housing

ZZ - Missing Information/Undefined

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 15 of 29

 


 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

     

      Most Recent           Most Recent              Appraisal

       

Cumulative

Current

 

 

 

Most Recent

Most Recent

NOI Start

NOI End

Reduction

Appraisal

Cumulative

Current P&I

Cumulative P&I

Servicer

NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

Date

Date

Date

Reduction Amount

ASER

Advances

Advances

Advances

from Principal

Defease Status

 

2A

11,186,369.00

3,154,890.50

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

986,416.76

0.00

 

 

2B

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

3

7,496,327.35

1,706,811.80

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

4

10,471,136.25

10,899,238.25

04/01/22

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

5A

9,620,174.36

2,810,246.34

01/01/23

03/31/23

03/13/23

4,538,383.85

264,275.12

50,868.55

248,627.18

0.00

0.00

 

 

5B

0.00

0.00

--

--

03/13/23

10,312,077.42

600,236.36

115,583.08

564,928.56

0.00

0.00

 

 

5C

0.00

0.00

--

--

03/13/23

154,635.12

9,008.58

1,733.23

8,471.41

0.00

0.00

 

 

5D

0.00

0.00

--

--

03/13/23

1,717,361.33

337,308.99

19,249.07

201,280.34

0.00

0.00

 

 

5E

0.00

0.00

--

--

03/13/23

1,081,430.89

212,160.22

12,121.24

126,993.97

0.00

0.00

 

 

7

6,184,248.79

1,537,253.87

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

8

4,151,901.90

1,048,254.30

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

10

3,205,558.08

0.00

--

--

--

0.00

0.00

180,418.93

180,418.93

116,309.74

0.00

 

 

11

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

12

1,292,960.00

0.00

--

--

04/11/22

5,220,421.36

1,651,062.36

145,051.01

4,370,507.05

210,716.77

0.00

 

 

13

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

15

2,866,799.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

16

1,859,145.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

19

3,193,713.25

883,034.50

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

20

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

25

2,609,630.00

725,975.00

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

26

0.00

455,710.00

01/01/22

09/30/22

11/14/22

0.00

0.00

68,861.51

481,703.95

0.00

0.00

 

 

27

1,121,032.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

28

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

32

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

33

1,024,077.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

34

713,591.50

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

35

955,227.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

39

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

 

 

 

 

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Page 16 of 29

 


 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

     

       Most Recent            Most Recent             Appraisal

       

Cumulative

Current

 

 

 

Most Recent

Most Recent

NOI Start

NOI End

Reduction

Appraisal

Cumulative

Current P&I

Cumulative P&I

Servicer

NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

Date

Date

Date

Reduction Amount

ASER

Advances

Advances

Advances

from Principal

Defease Status

 

41

887,937.00

898,466.90

04/01/22

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

42

2,384,760.00

2,112,395.00

04/01/22

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

43

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

44

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

45

914,649.10

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

46

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

49

1,613,308.80

405,897.10

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

51

426,524.99

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

53

973,837.00

702,251.00

01/01/22

09/30/22

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

55

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

56

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

58

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

61

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

62

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

63

496,253.42

153,351.35

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

65

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

66

339,625.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

67

727,856.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

69

399,699.00

127,322.25

01/01/23

03/31/23

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

70

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

71

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

72

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

Full Defeasance

 

Totals

77,116,340.79

27,621,098.16

     

23,024,309.97

3,074,051.63

593,886.62

6,182,931.39

1,313,443.27

0.00

 

 

 

 

 

 

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Page 17 of 29

 


 

 

           

 

 

Principal Prepayment Detail

 

 

 

 

 

 

Unscheduled Principal

                              Prepayment Penalties

Pros ID

Loan Number

Amount

Prepayment / Liquidation Code

Prepayment Premium Amount

                 Yield Maintenance Amount

8

1340333

35,103,796.23

Payoff Prior to Maturity

0.00

0.00

16

300961016

22,178,462.31

Payoff Prior to Maturity

0.00

0.00

25

300961025

11,190,135.09

Payoff Prior to Maturity

0.00

0.00

46

300961046

6,475,813.40

Payoff Prior to Maturity

0.00

0.00

56

300961056

5,046,089.59

Payoff Prior to Maturity

0.00

0.00

66

1340853

3,125,526.04

Payoff Prior to Maturity

0.00

0.00

67

300961067

3,150,808.28

Payoff Prior to Maturity

0.00

0.00

Totals

 

86,270,630.94

 

0.00

0.00

Note: Principal Prepayment Amount listed here may include Principal Adjustment Amounts on the loan in addition to the Unscheduled Principal Amount.

 

 

 

 

 

 

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Page 18 of 29

 


 

 

                                         

 

 

 

 

 

 

 

 

Historical Detail

 

 

 

 

 

 

 

 

 

           

Delinquencies¹

           

Prepayments

 

Rate and Maturities

   

30-59 Days

 

60-89 Days

 

90 Days or More

 

Foreclosure

 

REO

 

Modifications

   

Curtailments

 

Payoff

Next Weighted Avg.

 

Distribution

                                       
 

#

Balance

#

Balance

#

Balance

#

Balance

#

Balance

#

Balance

 

#

Amount

#

Amount

Coupon

Remit

WAM¹

Date

                                       

06/16/23

0

0.00

0

0.00

2

36,894,033.74

5

49,839,855.07

2

36,894,033.74

0

0.00

 

0

0.00

7

86,270,630.94

4.937638%

4.860860%

3

05/17/23

0

0.00

3

42,082,166.02

4

44,816,228.47

5

49,931,448.43

2

36,966,946.06

0

0.00

 

0

0.00

0

0.00

4.962540%

4.892717%

4

04/17/23

3

42,163,668.03

0

0.00

4

44,909,368.43

0

0.00

2

37,044,884.04

0

0.00

 

0

0.00

1

2,354,301.36

4.962623%

4.905046%

5

03/17/23

0

0.00

0

0.00

4

44,995,903.34

0

0.00

1

11,700,061.27

0

0.00

 

0

0.00

3

30,110,630.18

4.959767%

4.902311%

6

02/17/23

0

0.00

4

54,057,232.89

3

33,374,014.28

0

0.00

1

11,726,744.87

0

0.00

 

0

0.00

1

7,786,185.58

4.939153%

4.883060%

7

01/18/23

4

54,155,385.98

0

0.00

3

33,437,674.49

0

0.00

1

11,748,796.06

0

0.00

 

0

0.00

1

110,359,893.70

4.940772%

4.885019%

8

12/16/22

3

42,482,436.32

0

0.00

3

33,501,054.29

0

0.00

1

11,770,759.31

0

0.00

 

0

0.00

1

9,172,786.52

4.786244%

4.734510%

9

11/18/22

0

0.00

0

0.00

3

33,568,904.92

0

0.00

1

11,794,152.30

0

0.00

 

0

0.00

0

0.00

4.781141%

4.729700%

10

10/17/22

0

0.00

0

0.00

3

33,631,706.48

0

0.00

1

11,815,934.66

0

0.00

 

0

0.00

1

12,769,088.68

4.781209%

4.729775%

11

09/16/22

0

0.00

0

0.00

3

33,698,999.95

0

0.00

1

11,839,153.27

0

0.00

 

0

0.00

0

0.00

4.780077%

4.729053%

11

08/17/22

1

11,860,756.16

0

0.00

3

33,761,228.35

0

0.00

0

0.00

0

0.00

 

0

0.00

2

8,243,447.71

4.780141%

4.729124%

12

07/15/22

0

0.00

0

0.00

3

33,823,182.76

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

4.787000%

4.736232%

14

Note: Foreclosure and REO Totals are included in the delinquencies aging categories.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 19 of 29

 


 

 

                               

 

 

 

 

 

 

Delinquency Loan Detail

 

 

 

 

 

 

 

 

Paid

 

Mortgage

   

Outstanding

 

Servicing

Resolution

 

 

 

 

 

 

Through

Months

Loan

 

Current P&I

Outstanding P&I

Servicer

Actual Principal

Transfer

Strategy

      Bankruptcy

Foreclosure

 

Pros ID

Loan ID

Date

Delinquent

Status¹

Advances

Advances

Advances

Balance

Date

Code²

 

Date

Date

REO Date

5A

453000179

02/01/23

3

5

 

50,868.55

248,627.18

0.00

12,803,116.91

06/19/20

13

 

 

12/28/20

 

5B

453000181

02/01/23

3

5

 

115,583.08

564,928.56

0.00

29,091,134.00

06/19/20

13

 

 

12/28/20

 

5C

453000183

02/01/23

3

5

 

1,733.23

8,471.41

0.00

436,237.11

06/19/20

13

 

 

12/28/20

 

5D

453000185

01/01/22

16

5

 

19,249.07

201,280.34

0.00

4,959,461.54

06/19/20

13

 

 

12/28/20

 

5E

453000187

01/01/22

16

5

 

12,121.24

126,993.97

0.00

3,122,997.44

06/19/20

13

 

 

12/28/20

 

10

1238578

05/05/23

0

5

 

180,418.93

180,418.93

116,309.74

33,042,405.59

04/24/23

13

 

 

 

 

12

300961012

10/01/20

31

6

 

145,051.01

4,370,507.05

2,517,349.76

26,835,407.61

10/04/18

7

 

 

 

03/08/23

26

300961026

11/01/22

6

6

 

68,861.51

481,703.95

178,328.33

11,794,152.30

10/19/20

7

 

 

 

08/12/22

Totals

 

 

 

 

 

593,886.62

6,182,931.39

2,811,987.83

122,084,912.50

 

 

 

 

 

 

1 Mortgage Loan Status

 

 

 

 

 

 

2 Resolution Strategy Code

 

 

 

 

 

 

A - Payment Not Received But Still in Grace Period 0 - Current

 

4 - Performing Matured Balloon

 

1 - Modification

6 - DPO

 

 

10 - Deed in Lieu of Foreclosures

B - Late Payment But Less Than 30 days

1 - 30-59 Days Delinquent

5 - Non Performing Matured Balloon

2 - Foreclosure

7 - REO

 

 

11- Full Payoff

 

Delinquent

 

 

 

 

 

 

 

3 - Bankruptcy

8 - Resolved

 

 

12 - Reps and Warranties

 

 

 

2 - 60-89 Days Delinquent

6 - 121+ Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 - Extension

9 - Pending Return to Master Servicer

13 -

TBD

 

 

 

 

3 - 90-120 Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5 - Note Sale

98 - Other

 

 

 

 

 

 

 

 

 

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Page 20 of 29

 


 

 

                 

 

 

 

 

Collateral Stratification and Historical Detail

 

Maturity Dates and Loan Status¹

 

 

 

 

 

 

 

 

 

         Total

       Performing

                  Non-Performing

           REO/Foreclosure

 

 

Past Maturity

 

82,826,751

0

                 32,986,896

49,839,855

 

0 - 6 Months

 

496,727,575

459,833,542

 

0

 

36,894,034

 

7 - 12 Months

 

0

0

 

0

 

0

 

13 - 24 Months

 

0

0

 

0

 

0

 

25 - 36 Months

 

0

0

 

0

 

0

 

37 - 48 Months

 

0

0

 

0

 

0

 

49 - 60 Months

 

0

0

 

0

 

0

 

> 60 Months

 

2,962,084

2,962,084

 

0

 

0

 

 

 

 

 

Historical Delinquency Information

 

 

 

 

 

 

 

 

    Total

    Current

     30-59 Days

      60-89 Days

    90+ Days

    REO/Foreclosure

 

 

Jun-23

582,516,410

495,782,522

0

0

49,839,855

36,894,034

 

May-23

675,159,998

588,261,603

0

42,082,166

7,849,282

36,966,946

 

Apr-23

676,743,412

589,670,376

42,163,668

0

7,864,484

37,044,884

 

Mar-23

680,603,374

635,607,471

0

0

33,295,842

11,700,061

 

Feb-23

712,506,035

625,074,788

0

42,330,488

33,374,014

11,726,745

 

Jan-23

721,826,774

634,233,714

42,406,590

0

33,437,674

11,748,796

 

Dec-22

833,959,017

746,204,767

42,482,436

0

33,501,054

11,770,759

 

Nov-22

845,017,357

799,654,300

0

0

33,568,905

11,794,152

 

Oct-22

846,792,014

801,344,372

0

0

33,631,706

11,815,935

 

Sep-22

861,462,287

815,924,134

0

0

33,699,000

11,839,153

 

Aug-22

863,250,365

817,628,381

11,860,756

0

33,761,228

0

 

Jul-22

873,289,909

839,466,726

0

0

33,823,183

0

 

(1) Maturity dates used in this chart are based on the dates provided by the Master Servicer in the Loan Periodic File.

 

 

 

 

 

 

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Page 21 of 29

 


 

 

                     

 

 

 

Specially Serviced Loan Detail - Part 1

 

 

 

 

 

 

Ending Scheduled

 

 

 

Net Operating

 

 

 

Remaining

Pros ID

Loan ID

Balance

Actual Balance

Appraisal Value

Appraisal Date

Income

DSCR

DSCR Date

Maturity Date

Amort Term

5D

453000185

4,807,547.49

4,959,461.54

108,000,000.00

09/14/22

534,833.70

1.66020

03/31/23

06/01/23

243

5E

453000187

3,027,336.34

3,122,997.44

108,000,000.00

09/14/22

336,787.45

1.66020

03/31/23

06/01/23

243

5A

453000179

12,704,662.36

12,803,116.91

108,000,000.00

09/14/22

11,397,110.16

1.27940

03/31/23

06/01/23

243

5B

453000181

28,867,426.39

29,091,134.00

108,000,000.00

09/14/22

3,211,465.57

1.66020

03/31/23

06/01/23

243

5C

453000183

432,882.49

436,237.11

108,000,000.00

09/14/22

48,157.66

1.66020

03/31/23

06/01/23

243

10

1238578

32,986,896.14

33,042,405.59

55,000,000.00

05/01/13

3,205,558.08

1.47590

03/31/23

06/05/23

243

12

300961012

25,262,493.49

26,835,407.61

26,400,000.00

11/22/22

1,292,960.00

0.63320

03/31/23

10/01/23

243

26

300961026

11,631,540.25

11,794,152.30

13,300,000.00

09/04/22

609,282.60

0.73280

09/30/22

08/01/23

243

Totals

 

119,720,784.95

122,084,912.50

634,700,000.00

 

20,636,155.22

 

 

 

 

 

 

 

 

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Page 22 of 29

 


 

 

             

 

 

 

 

 

Specially Serviced Loan Detail - Part 2

 

 

 

 

 

Servicing

 

 

 

 

Property

 

Transfer

Resolution

 

Pros ID

Loan ID

Type¹

State

Date

Strategy Code²

Special Servicing Comments

5A

453000179

RT

FL

06/19/20

13

 

 

05/08/2023: The loan was transferred to the Special Servicer on 6/16/2020 due to the Master Servicer determining an imminent default. The loan was past due for the 6/1/2020 payment. The Mall reopened in late May 2020 after being closed for

 

2.5 months due to COVID restrictions. Westfield was no longer going to support the asset and cooperated with a friendly foreclosure process. All rents are being captured through Cash Trap. Stipulated Foreclosure and Motion for Receiver

 

filed on 12/29/2020. Ap pointment of JLL as Receiver entered on 1/6/2021. Receiver is overseeing all leasing and management. Leasing activity continues to be strong at the property. Effective income is increasing as sales activity also

 

increases. JLL continues working with tenants on outstanding AR balances and health ratio concerns. JLL is also working with pad site prospect, talking to anchors, discussing parking ratios and REA. A successful tax appeal was approved,

 

reducing the taxable value of the property. Midlan

d is assessing additional leasing including a 26,000sf Entertainment Tenant. The Property was launched to the to the market for sale on 1/18/2023. Midland is reviewing the second round of

 

offers to determine how to respond for the best and final rou nd of offers.

 

5B

453000181

Various

Various

06/19/20

13

 

 

05/08/2023: The loan was transferred to the Special Servicer on 6/16/2020 due to the Master Servicer determining an imminent default. The loan was past due for the 6/1/2020 payment. The Mall reopened in late May 2020 after being closed for

 

2.5 months due to COVID restrictions. Westfield was no longer going to support the asset and cooperated with a friendly foreclosure process. All rents are being captured through Cash Trap. Stipulated Foreclosure and Motion for Receiver filed

 

on 12/29/2020. Appointment o f JLL as Receiver entered on 1/6/2021. Receiver is overseeing all leasing and management. Leasing activity continues to be strong at the property. Effective income is increasing as sales activity also increases. JLL

 

continues working with tenants on outst anding AR balances and health ratio concerns. JLL is also working with pad site prospect, talking to anchors, discussing parking ratios and REA. A successful tax appeal was approved, reducing the

 

taxable value of the property. Midland is assessing additio nal leasing including a 26,000sf Entertainment Tenant. The Property was launched to the to the market for sale on 1/18/2023. Midland is reviewing the second round of offers to

 

determine how to respond for the best and final round of offers.

 

 

5C

453000183

Various

Various

06/19/20

13

 

 

05/08/2023: The loan was transferred to the Special Servicer on 6/16/2020 due to the Master Servicer determining an imminent default. The loan was past due for the 6/1/2020 payment. The Mall reopened in late May 2020 after being closed for

 

2.5 months due to COVID restrictions. Westfield was no longer going to support the asset and cooperated with a friendly foreclosure process. All rents are being captured through Cash Trap. Stipulated Foreclosure and Motion for Receiver filed

 

on 12/29/2020. Appointment o f JLL as Receiver entered on 1/6/2021. Receiver is overseeing all leasing and management. Leasing activity continues to be strong at the property. Effective income is increasing as sales activity also increases. JLL

 

continues working with tenants on outst anding AR balances and health ratio concerns. JLL is also working with pad site prospect, talking to anchors, discussing parking ratios and REA. A successful tax appeal was approved, reducing the

 

taxable value of the property. Midland is assessing additio nal leasing including a 26,000sf Entertainment Tenant. The Property was launched to the to the market for sale on 1/18/2023. Midland is reviewing the second round of offers to

 

determine how to respond for the best and final round of offers.

 

 

5D

453000185

Various

Various

06/19/20

13

 

 

05/08/2023: The loan was transferred to the Special Servicer on 6/16/2020 due to the Master Servicer determining an imminent default. The loan was past due for the 6/1/2020 payment. The Mall reopened in late May 2020 after being closed for

 

2.5 months due to COVID restrictions. Westfield was no longer going to support the asset and cooperated with a friendly foreclosure process. All rents are being captured through Cash Trap. Stipulated Foreclosure and Motion for Receiver filed

 

on 12/29/2020. Appointment o f JLL as Receiver entered on 1/6/2021. Receiver is overseeing all leasing and management. Leasing activity continues to be strong at the property. Effective income is increasing as sales activity also increases. JLL

 

continues working with tenants on outst anding AR balances and health ratio concerns. JLL is also working with pad site prospect, talking to anchors, discussing parking ratios and REA. A successful tax appeal was approved, reducing the

 

taxable value of the property. Midland is assessing additio nal leasing including a 26,000sf Entertainment Tenant. The Property was launched to the to the market for sale on 1/18/2023. Midland is reviewing the second round of offers to

 

determine how to respond for the best and final round of offers.

 

 

5E

453000187

Various

Various

06/19/20

13

 

 

05/08/2023: The loan was transferred to the Special Servicer on 6/16/2020 due to the Master Servicer determining an imminent default. The loan was past due for the 6/1/2020 payment. The Mall reopened in late May 2020 after being closed for

 

2.5 months due to COVID restrictions. Westfield was no longer going to support the asset and cooperated with a friendly foreclosure process. All rents are being captured through Cash Trap. Stipulated Foreclosure and Motion for Receiver filed

 

on 12/29/2020. Appointment o f JLL as Receiver entered on 1/6/2021. Receiver is overseeing all leasing and management. Leasing activity continues to be strong at the property. Effective income is increasing as sales activity also increases. JLL

 

continues working with tenants on outst anding AR balances and health ratio concerns. JLL is also working with pad site prospect, talking to anchors, discussing parking ratios and REA. A successful tax appeal was approved, reducing the

 

taxable value of the property. Midland is assessing additio nal leasing including a 26,000sf Entertainment Tenant. The Property was launched to the to the market for sale on 1/18/2023. Midland is reviewing the second round of offers to

 

determine how to respond for the best and final round of offers.

 

 

10

1238578

OF

NY

04/24/23

13

 

 

Loan transferred to Special Servicing effective 4/24/2023 for imminent maturity default. The Loan matured on 6/5/23. The subject is a 100,025 SF office property located in New York, NY built in 1925 and renovated in 2012. A pre-negotiation

 

agreement was s igned in May 2023. A site inspection is under way. The special servicer is currently reviewing rights and remedies under the loan documents while evaluating proposals received from Borrower.

 

 

 

 

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Page 23 of 29

 


 

 

                 

 

 

 

 

 

Specially Serviced Loan Detail - Part 2

 

 

 

 

 

 

Servicing

 

 

 

 

 

 

Property

 

Transfer

Resolution

 

 

 

Pros ID

Loan ID

Type¹

State

Date

Strategy Code²

 

Special Servicing Comments

 

12

300961012

RT

NV

10/04/18

7

 

 

 

 

The loan transferred to Special Servicing on 10/4/18 following the closure of anchor tenant, Toys R Us (65,705sf; 35.63% NRA; 43% EGI). The subject is a 184,403 SF power shopping center located in northern Las Vegas, NV, constructed in

 

2009 that is shadow-anchored by Target and Home Depot. A receiver was appointed in July 2019. The Trust took title via a Foreclosure sale which took place on 3/7/2023. The receivership will be closed out following dismissal by the court

 

which is expected in June. The property was inspected in August 2022 and was found to be in generally good condition. An undeveloped collateral pad site was sold in October 2021 and proceeds were applied. A new co-anchor lease

 

(Burlington) was executed for approximately half of the vacant former Toys R Us box (27.6K SF, 15% NRA) and opened for business in November 2022, bringing occupancy to 79%. Leasing efforts continue for the remaining 39K SF of

 

anchor space.

 

 

 

 

 

 

 

26

300961026

RT

FL

10/19/20

7

 

 

 

 

The loan transferred to Special Servicing on 10/19/2020 due to imminent monetary default. The loan is secured by a 185,705 SF shopping center located in Winter Haven, FL. As of June 2023, the center is 51.3% leased. The anchor tenant's

 

lease (Belk, 33% NR A) was extended through 7/31/2026. While Belk had filed chapter 11 bankruptcy, they accepted this lease. An August 2022 inspection found the asset to be in generally good condition with the former Macy's anchor space

 

to be in fair condition with some def erred maintenance. Title was received in August 2022. The Receiver was dismissed in January 2023. The Special Servicer is continuing leasing efforts for the former Macy's anchor space, the remaining inline

 

vacancy and the recently vacated restaurant space .

 

 

 

 

1 Property Type Codes

 

 

 

 

2 Resolution Strategy Code

 

 

HC - Health Care

 

MU - Mixed Use

 

WH - Warehouse

1 - Modification

6 - DPO

10 - Deed in Lieu of Foreclosures

MF - Multi-Family

 

SS - Self Storage

 

LO - Lodging

2 - Foreclosure

7 - REO

11- Full Payoff

RT - Retail

 

SF - Single Family Rental

98 - Other

3 - Bankruptcy

8 - Resolved

12 - Reps and Warranties

IN - Industrial

 

OF - Office

 

MH - Mobile Home Park

4 - Extension

9 - Pending Return to Master Servicer

13 - TBD

SE - Securities

 

CH - Cooperative Housing

ZZ - Missing Information/Undefined

5 - Note Sale

98 - Other

 

 

 

 

 

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Page 24 of 29

 


 

 

                 

 

 

 

 

Modified Loan Detail

 

 

 

 

 

 

Pre-Modification

Post-Modification

 

Modification

Modification

 

 

 

 

 

Modification

Modification Booking

Closing

Effective

 

 

Balance

Rate

Balance

Rate

 

 

 

Pros ID

Loan Number

 

 

 

Code¹

Date

Date

Date

 

 

 

 

No modified loans this period

 

 

 

1 Modification Codes

 

 

 

 

 

 

 

1 - Maturity Date Extension

5 - Temporary Rate Reduction

8 - Other

 

 

 

 

 

2 - Amortization Change

6 - Capitalization on Interest

9 - Combination

 

 

 

 

 

3 - Principal Write-Off

7 - Capitalization on Taxes

10 - Forbearance

 

 

 

 

 

 

Note: Please refer to Servicer Reports for modification comments.

 

 

 

 

 

 

 

 

 

 

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Page 25 of 29

 


 

 

                       

 

 

 

Historical Liquidated Loan Detail

 

 

 

 

 

Loan

 

Gross Sales

 

 

 

 

Current

 

Loss to Loan

Percent of

 

Beginning

Most Recent

Proceeds or

Fees,

Net Proceeds

Net Proceeds

 

Period

Cumulative

with

Original

         Loan

Scheduled

Appraised

Other

Advances,

Received on

Available for

Realized Loss

Adjustment to

Adjustment to

Cumulative

Loan

Pros ID¹           Number                Dist.Date

Balance

Value or BPO

Proceeds

and Expenses

Liquidation

Distribution

to Loan

Loan

Loan

Adjustment

Balance

 

 

 

 

No liquidated loans this period

 

 

 

 

 

Note: Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).

 

 

 

 

 

 

 

 

 

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Page 26 of 29

 


 

 

                     

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

 

 

 

 

 

 

Certificate

Reimb of Prior

 

 

 

 

 

 

 

 

 

Interest Paid

Realized Losses

 

Loss Covered by

 

 

 

 

Total Loss

 

 

from Collateral

from Collateral

Aggregate

Credit

Loss Applied to

Loss Applied to

Non-Cash

Realized Losses

Applied to

       Loan

Distribution

Principal

Interest

Realized Loss to

Support/Deal

Certificate

Certificate

Principal

from

Certificate

Pros ID         Number

Date

Collections

Collections

Loan

Structure

Interest Payment

Balance

Adjustment

NRA/WODRA

Balance

 

 

 

 

 

No realized losses this period

 

 

 

 

 

 

 

 

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Page 27 of 29

 


 

 

                         

 

 

 

Interest Shortfall Detail - Collateral Level

 

 

 

 

 

     

Special Servicing Fees

             

Modified

   

Deferred

         

Non-

 

Reimbursement of

Other

Interest

 

Interest

Interest

         

Recoverable

Interest on

Advances from

Shortfalls /

Reduction /

Pros ID

Adjustments

Collected

Monthly

Liquidation

Work Out

ASER

PPIS / (PPIE)

Interest

Advances

Interest

(Refunds)

(Excess)

5A

0.00

0.00

2,740.06

0.00

0.00

15,210.14

0.00

0.00

0.00

0.00

0.00

0.00

5B

0.00

0.00

6,225.94

0.00

0.00

34,560.36

0.00

0.00

0.00

0.00

0.00

0.00

5C

0.00

0.00

93.36

0.00

0.00

518.25

0.00

0.00

0.00

0.00

0.00

0.00

5D

0.00

0.00

1,036.86

0.00

0.00

5,755.64

0.00

0.00

0.00

0.00

0.00

0.00

5E

0.00

0.00

652.92

0.00

0.00

3,624.36

0.00

0.00

0.00

0.00

0.00

0.00

10

0.00

0.00

7,113.30

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

12

0.00

0.00

5,449.32

0.00

0.00

24,589.63

0.00

0.00

0.00

0.00

0.00

0.00

26

0.00

0.00

2,508.84

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Total

0.00

0.00

25,820.60

0.00

0.00

84,258.38

0.00

0.00

0.00

0.00

0.00

0.00

Note: Interest Adjustments listed for each loan do not include amounts that were used to adjust the Weighted Average Net Rate of the mortgage loans.

 

 

Collateral Shortfall Total

110,078.98

 

 

 

 

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Page 28 of 29

 


 

 

   

Supplemental Notes

 

Exchange of Exchangeable Certificates--March 2016

 

In March 2016 an exchange of exchangeable certificates took effect in which $116,464,000.00 of Class PST was exchanged for $52,648,500.00 of Class A-S, $37,491,500.00 of Class B, and $26,324,000.00 of Class C.

 

 

 

 

 

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Page 29 of 29