FWP 1 n728_anxa1-x6.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206361-05
     

 

     
     
  Free Writing Prospectus dated September 14, 2016  
     
  The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus 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 if you request it by calling (866) 669-7629 or by emailing the ABS Syndicate Desk at abs_synd@jpmorgan.com.    
     
  The information in this file (the “File”) is an electronic copy of the information set forth in the Appendix titled “Certain Characteristics of the Mortgage Loans and Mortgage Properties” to the prospectus.  This File does not contain all information that is required to be included in the prospectus.  This File should be reviewed only in conjunction with the entire prospectus.  Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision.    
     
  The information in this File may be amended and/or supplemented prior to the time of sale.  The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.    
     
  Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus.  The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.  
     
  Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which this material may have been attached 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 email system.  
     

 

 

 

 

Annex A-1                                                
                                                             
                                Number of   Property     Property       Year        Unit of       
Loan #   Seller(1)   Property Name   Street Address   City   State   Zip Code   County   Properties   Type   Subtype   Year Built   Renovated   Units(2)    Measure   Occupancy %(3)
1   JPMCB   9 West 57th Street   9 West 57th Street   New York   NY   10019   New York   1   Office   CBD   1972       1,680,218   Square Feet   63.5%
2   JPMCB   693 Fifth Avenue   693 Fifth Avenue   New York   NY   10022   New York   1   Mixed Use   Retail/Office   1993   2015   96,514   Square Feet   57.1%
3   JPMCB   Opry Mills   433 Opry Mills Drive   Nashville   TN   37214   Davidson   1   Retail   Super Regional Mall   2000   2012   1,169,633   Square Feet   98.6%
4   JPMCB   Westfield San Francisco Centre   865 Market Street   San Francisco   CA   94103   San Francisco   1   Mixed Use   Super Regional Mall/Office   1908, 1988   2006   794,521   Square Feet   95.6%
5   JPMCB   1 Kaiser Plaza   1 Kaiser Plaza   Oakland   CA   94612   Alameda   1   Office   CBD   1971       528,158   Square Feet   96.5%
6   JPMCB   Salesforce Tower   111 Monument Circle and 120 North Pennsylvania Street   Indianapolis   IN   46204   Marion   1   Office   CBD   1959, 1990   1993   1,105,117   Square Feet   86.1%
7   BSP   Amazon Buckeye Logistics Center   6835 West Buckeye Road   Phoenix   AZ   85043   Maricopa   1   Industrial   Warehouse/Distribution   2007, 2011       1,009,351   Square Feet   100.0%
8   SMF VI   Crocker Park Phase One & Two   189 Crocker Park Boulevard   Westlake   OH   44145   Cuyahoga   1   Mixed Use   Office/Retail   2004-2010       615,062   Square Feet   98.5%
9   JPMCB   1333 Broadway   1333 Broadway   Oakland   CA   94612   Alameda   1   Office   CBD   1973       240,051   Square Feet   92.9%
10   JPMCB   Laguna Design Center   23807 & 23811 Aliso Creek Road   Laguna Niguel   CA   92677   Orange   1   Mixed Use   Retail/Office   1985       236,727   Square Feet   93.4%
11   BSP   Sheraton Salt Lake City   150 West 500 South   Salt Lake City   UT   84101   Salt Lake   1   Hotel   Full Service   1975   2015   362   Rooms   82.2%
12   SMF VI   National Business Park   Various   Princeton   NJ   08540   Middlesex   5   Office   Suburban   Various       450,543   Square Feet   83.9%
12.01   SMF VI   4 Research Way   4 Research Way   Princeton   NJ   08540   Middlesex   1   Office   Suburban   1984       123,860   Square Feet   89.5%
12.02   SMF VI   2 Research Way   2 Research Way   Princeton   NJ   08540   Middlesex   1   Office   Suburban   1984       116,746   Square Feet   70.9%
12.03   SMF VI   107 College Road East   107 College Road East   Princeton   NJ   08540   Middlesex   1   Office   Suburban   1980       78,759   Square Feet   100.0%
12.04   SMF VI   105 College Road East   105 College Road East   Princeton   NJ   08540   Middlesex   1   Office   Suburban   1979       77,618   Square Feet   79.0%
12.05   SMF VI   103 College Road East   103 College Road East   Princeton   NJ   08540   Middlesex   1   Office   Suburban   1977       53,560   Square Feet   82.9%
13   JPMCB   Embassy Suites Charleston   300 Court Street   Charleston   WV   25301   Kanawha   1   Hotel   Full Service   1997       253   Rooms   71.1%
14   BSP   Vadata - Ashburn Data Center   21271, 21267 and 21263 Smith Switch Road   Ashburn   VA   20147   Loudoun   1   Office   Data Center   2013-2015       430,663   Square Feet   100.0%
15   JPMCB   Embassy Suites Busch Gardens Hotel   3705 Spectrum Boulevard   Tampa   FL   33612   Hillsborough   1   Hotel   Full Service   1998   2011   247   Rooms   81.6%
16   JPMCB   100 East Wisconsin Avenue   100 East Wisconsin Avenue and 720 North Water Street   Milwaukee   WI   53202   Milwaukee   1   Office   CBD   1988-1989       435,443   Square Feet   82.0%
17   JPMCB   Homewood Suites Nashville Downtown   706 Church Street   Nashville   TN   37203   Davidson   1   Hotel   Extended Stay   1919   2007   113   Rooms   84.7%
18   BSP   2500 83rd Street   2500 83rd Street   North Bergen   NJ   07047   Hudson   1   Industrial   Warehouse/Distribution   1960   2015   293,594   Square Feet   100.0%
19   JPMCB   Fountains at the Bayou   11710 & 11810 Algonquin Drive   Houston   TX   77089   Harris   1   Multifamily   Garden   1970   2015   458   Units   92.8%
20   JPMCB   Centrica   1550 West Southern Avenue   Mesa   AZ   85202   Maricopa   1   Office   Suburban   1978   2015   116,982   Square Feet   100.0%
21   SMF VI   Cicero Marketplace   5845, 5663, 5701 & 5671 East Circle Drive   Cicero   NY   13039   Onondaga   1   Retail   Anchored   1980, 2004, 2005       146,849   Square Feet   97.5%
22   SMF VI   Hillside Industrial   600 North Union Avenue   Hillside   NJ   07205   Union   1   Industrial   Warehouse/Distribution   1948       743,047   Square Feet   97.2%
23   JPMCB   Embassy Suites Palmdale   39375 5th Street West   Palmdale   CA   93551   Los Angeles   1   Hotel   Full Service   2010       150   Rooms   83.5%
24   BSP   Vadata - Manassas Data Center   7060 & 7070 Wellington Road   Manassas   VA   20109   Prince William   1   Office   Data Center   2015       297,160   Square Feet   100.0%
25   JPMCB   The Villas of East Cobb   1049 Powers Ferry Road Southeast   Marietta   GA   30067   Cobb   1   Multifamily   Garden   1974   2002   414   Units   90.8%
26   JPMCB   Hilton Garden Inn Ridgefield Park   70 Challenger Road   Ridgefield Park   NJ   07660   Bergen   1   Hotel   Limited Service   2009       140   Rooms   83.2%
27   JPMCB   415 West 13th Street   415 West 13th Street   New York   NY   10014   New York   1   Retail   Single Tenant   1900   2003   8,058   Square Feet   100.0%
28   SMF VI   Embassy Suites Lake Buena Vista   8100 Lake Street   Orlando   FL   32836   Orange   1   Hotel   Full Service   1991   2014   334   Rooms   83.2%
29   JPMCB   Shadow Creek Apartments   7500 Pinemont Drive   Houston   TX   77040   Harris   1   Multifamily   Garden   1980   2016   296   Units   94.3%
30   JPMCB   Wesley Pond   3000 Highway 5 and 7090 Arbor Parkway   Douglasville   GA   30135   Douglas   1   Multifamily   Garden   1988, 1997       246   Units   97.2%
31   SMF VI   Decatur Crossing II   6420, 6450 & 6480 Cameron Street   Las Vegas   NV   89118   Clark   1   Industrial   Flex   2006       140,596   Square Feet   89.9%
32   BSP   Vadata - Haymarket Data Center   15395 John Marshall Highway   Haymarket   VA   20169   Prince William   1   Office   Data Center   1999   2014   236,000   Square Feet   100.0%
33   JPMCB   Doubletree Fayetteville   1965 Cedar Creek Road   Fayetteville   NC   28312   Cumberland   1   Hotel   Full Service   1986   2008   148   Rooms   75.2%
34   SMF VI   Triad and University Court Apartments   Various   Various   NY   Various   Erie   2   Various   Various   Various       139   Units   95.0%
34.01   SMF VI   Triad Apartments   1400 Millersport Highway   Amherst   NY   14221   Erie   1   Mixed Use   Student/Retail   1977       95   Units   96.8%
34.02   SMF VI   University Court Apartments   3442 Main Street   Buffalo   NY   14214   Erie   1   Multifamily   Student   1925       44   Units   90.9%
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   1950 Sawtelle Boulevard   Los Angeles   CA   90025   Los Angeles   1   Office   Suburban   1985       106,875   Square Feet   93.5%
36   BSP   Arkansas Hotel Portfolio   Various   Various   AR   Various   Various   2   Hotel   Limited Service   Various   2015   158   Rooms   71.0%
36.01   BSP   Holiday Inn Express Bentonville   2205 Southeast Walton Boulevard   Bentonville   AR   72712   Benton   1   Hotel   Limited Service   1997   2015   84   Rooms   71.6%
36.02   BSP   Fairfield Inn & Suites Springdale   1043 Rieff Street   Springdale   AR   72762   Washington   1   Hotel   Limited Service   2004   2015   74   Rooms   70.3%
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   Various   West Monroe   LA   71291   Ouachita   2   Various   Various   Various       Various   Various   Various
37.01   JPMCB   Sunshine Heights Shopping Center   3426 Cypress Street   West Monroe   LA   71291   Ouachita   1   Retail   Anchored   1983       101,396   Square Feet   86.9%
37.02   JPMCB   Attic Self Storage   200 Warren Drive   West Monroe   LA   71291   Ouachita   1   Self Storage   Self Storage   1996       489   Units   98.0%
38   SMF VI   Hilton Home2 Suites Layton   803 Heritage Park Boulevard   Layton   UT   84041   Davis   1   Hotel   Extended Stay   2011       107   Rooms   69.3%
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   4971 Calypso Cay Way   Kissimmee   FL   34746   Osceola   1   Hotel   Limited Service   2008       125   Rooms   77.0%
40   SMF VI   Holiday Inn Express - Aiken   2897 Whiskey Road   Aiken   SC   29803   Aiken   1   Hotel   Limited Service   2014       95   Rooms   71.2%
41   SMF VI   Shops at Laurel Springs   3245 Peachtree Parkway   Suwanee   GA   30024   Forsyth   1   Retail   Anchored   1996       68,465   Square Feet   93.9%
42   BSP   Fort Wayne Office Portfolio   Various   Fort Wayne   IN   Various   Allen   3   Office   Suburban   Various       178,388   Square Feet   78.4%
42.01   BSP   Pointe Inverness II   7030 Pointe Inverness Way   Fort Wayne   IN   46804   Allen   1   Office   Suburban   1990       57,873   Square Feet   83.3%
42.02   BSP   Executive Center I   3400 East Coliseum Boulevard   Fort Wayne   IN   46805   Allen   1   Office   Suburban   1986       59,711   Square Feet   95.4%
42.03   BSP   Executive Center II   3500 East Coliseum Boulevard   Fort Wayne   IN   46805   Allen   1   Office   Suburban   1989       60,804   Square Feet   57.0%
43   BSP   Fern Forest Apartments   1024 Ashwood Court   Gastonia   NC   28054   Gaston   1   Multifamily   Garden   1963, 1967, 1974   2012   184   Units   99.5%
44   BSP   Douglasville Crossroads   7003 Concourse Parkway   Douglasville   GA   30134   Douglas   1   Retail   Shadow Anchored   1999       42,720   Square Feet   100.0%
45   BSP   Seven Bridges   6325-6440 Main Street   Woodridge   IL   60517   DuPage   1   Mixed Use   Retail/Office   2007       49,115   Square Feet   84.6%
46   BSP   Comfort Suites Raleigh-Durham Airport   5219 Page Road   Durham   NC   27703   Durham   1   Hotel   Limited Service   1998   2013   125   Rooms   69.6%
47   BSP   Best Western Ellensburg   211 West Umptanum Road   Ellensburg   WA   98926   Kittitas   1   Hotel   Limited Service   2002       55   Rooms   78.2%
48   SMF VI   State University Retail Portfolio   Various   Various   Various   Various   Various   2   Retail   Various   Various   Various   11,190   Square Feet   100.0%
48.01   SMF VI   Blaze Pizza and First Watch   105 & 111 West University Drive   Tempe   AZ   85281   Maricopa   1   Retail   Unanchored   1987   2016   7,077   Square Feet   100.0%
48.02   SMF VI   Mattress Firm   1814 West Tennessee Street   Tallahassee   FL   32304   Leon   1   Retail   Freestanding   2015       4,113   Square Feet   100.0%
49   BSP   Summerfield Shoppes   11317 Big Bend Road   Riverview   FL   33579   Hillsborough   1   Retail   Unanchored   2001       40,000   Square Feet   100.0%
50   BSP   Holiday Inn Express Canton   157 Soldiers Colony Road   Canton   MS   39046   Madison   1   Hotel   Limited Service   2007       80   Rooms   57.3%
51   BSP   Wilshire Manor Apartments   1450 Sagebrush Trail   Euless   TX   76040   Tarrant   1   Multifamily   Garden   1965       118   Units   99.2%
52   SMF VI   Bluffton Self Storage   33 Parmenter Road   Bluffton   SC   29910   Beaufort   1   Self Storage   Self Storage   1987       301   Units   88.0%

 

A-1-1 

 

 

Annex A-1                                                            
                                                                             
                                Original       Current                       Net            
            Occupancy   Appraised   Appraisal   Current   Original   Balance   Current     Balance   % of Initial   Crossed   Related     Interest     Admin.   Mortgage       Monthly Debt   Annual Debt
Loan #   Seller(1)   Property Name   Date   Value ($)(4)   Date   LTV %(4)(5)   Balance ($)(6)(7)   per Unit ($)   Balance ($)(6)(7)   per Unit ($)   Pool Balance   Loan   Borrower(8)   Rate %(9)   Fee %(9)   Rate %(9)   Accrual Type   Service ($)(10)(11)   Service ($)(11)
1   JPMCB   9 West 57th Street   06/01/16   3,400,000,000   07/28/16   29.8%   100,000,000   603   100,000,000   603   8.2%   No   No   2.85950   0.00918   2.85032   Actual/360   241,601.27   2,899,215.28
2   JPMCB   693 Fifth Avenue   04/01/16   525,000,000   05/24/16   47.6%   80,000,000   2,590   80,000,000   2,590   6.6%   No   No   3.96600   0.01043   3.95557   Actual/360   420,769.06   5,049,228.72
3   JPMCB   Opry Mills   03/14/16   738,000,000   05/10/16   50.8%   80,000,000   321   80,000,000   321   6.6%   No   No   4.09200   0.01043   4.08157   Actual/360   276,588.89   3,319,066.67
4   JPMCB   Westfield San Francisco Centre   04/30/16   1,220,000,000   04/27/16   35.5%   60,000,000   545   60,000,000   545   4.9%   No   No   3.39400   0.00918   3.38482   Actual/360   172,056.94   2,064,683.33
5   JPMCB   1 Kaiser Plaza   04/01/16   212,000,000   06/22/16   45.8%   60,000,000   184   60,000,000   184   4.9%   No   Yes - Group 1   4.14000   0.01346   4.12654   Actual/360   209,875.00   2,518,500.00
6   JPMCB   Salesforce Tower   07/11/16   181,100,000   07/21/16   59.6%   60,000,000   98   60,000,000   98   4.9%   No   Yes - Group 2   4.36690   0.01346   4.35344   Actual/360   221,377.57   2,656,530.83
7   BSP   Amazon Buckeye Logistics Center   09/06/16   75,500,000   05/20/16   64.4%   48,587,500   48   48,587,500   48   4.0%   No   No   4.50000   0.01346   4.48654   Actual/360   184,733.72   2,216,804.64
8   SMF VI   Crocker Park Phase One & Two   07/22/16   214,400,000   05/19/16   65.3%   40,000,000   228   40,000,000   228   3.3%   No   No   4.92000   0.04043   4.87957   Actual/360   212,777.21   2,553,326.52
9   JPMCB   1333 Broadway   06/24/16   88,100,000   06/22/16   44.8%   39,500,000   165   39,500,000   165   3.2%   No   Yes - Group 1   4.14000   0.01346   4.12654   Actual/360   138,167.71   1,658,012.50
10   JPMCB   Laguna Design Center   05/01/16   54,360,000   06/15/16   70.2%   38,150,000   161   38,150,000   161   3.1%   No   No   4.30000   0.01346   4.28654   Actual/360   188,793.46   2,265,521.52
11   BSP   Sheraton Salt Lake City   06/30/16   50,200,000   08/01/17   69.7%   35,000,000   96,685   35,000,000   96,685   2.9%   No   No   5.32000   0.01346   5.30654   Actual/360   194,791.56   2,337,498.72
12   SMF VI   National Business Park   08/01/16   84,860,000   07/07/16   64.8%   33,000,000   122   33,000,000   122   2.7%   No   No   4.68000   0.01346   4.66654   Actual/360   170,754.01   2,049,048.12
12.01   SMF VI   4 Research Way   08/01/16   25,680,000   07/07/16       9,986,330       9,986,330       0.8%                                
12.02   SMF VI   2 Research Way   08/01/16   23,570,000   07/07/16       9,165,802       9,165,802       0.8%                                
12.03   SMF VI   107 College Road East   08/01/16   13,840,000   07/07/16       5,382,041       5,382,041       0.4%                                
12.04   SMF VI   105 College Road East   08/01/16   13,610,000   07/07/16       5,292,600       5,292,600       0.4%                                
12.05   SMF VI   103 College Road East   08/01/16   8,160,000   07/07/16       3,173,226       3,173,226       0.3%                                
13   JPMCB   Embassy Suites Charleston   06/30/16   43,000,000   06/01/16   68.8%   29,580,000   116,917   29,580,000   116,917   2.4%   No   Yes - Group 5   4.20000   0.01346   4.18654   Actual/360   144,651.28   1,735,815.36
14   BSP   Vadata - Ashburn Data Center   09/06/16   77,000,000   06/22/16   36.4%   28,000,000   65   28,000,000   65   2.3%   No   Yes - Group 4   3.40000   0.01346   3.38654   Actual/360   80,435.19   965,222.28
15   JPMCB   Embassy Suites Busch Gardens Hotel   06/30/16   38,500,000   06/01/16   71.5%   27,540,000   111,498   27,540,000   111,498   2.3%   No   Yes - Group 5   4.20000   0.01346   4.18654   Actual/360   134,675.33   1,616,103.96
16   JPMCB   100 East Wisconsin Avenue   07/08/16   82,300,000   07/19/16   65.4%   25,000,000   124   25,000,000   124   2.1%   No   Yes - Group 2   3.87445   0.01043   3.86402   Actual/360   117,551.41   1,410,616.92
17   JPMCB   Homewood Suites Nashville Downtown   05/31/16   40,400,000   04/27/16   59.9%   24,190,000   214,071   24,190,000   214,071   2.0%   No   Yes - Group 3   4.70000   0.01346   4.68654   Actual/360   137,216.63   1,646,599.56
18   BSP   2500 83rd Street   07/13/16   33,775,000   06/22/16   69.5%   23,500,000   80   23,474,138   80   1.9%   No   No   4.85000   0.01346   4.83654   Actual/360   124,007.58   1,488,090.96
19   JPMCB   Fountains at the Bayou   08/04/16   29,400,000   07/26/16   75.0%   22,050,000   48,144   22,050,000   48,144   1.8%   No   Yes - Group 6   4.81600   0.04346   4.77254   Actual/360   115,902.06   1,390,824.72
20   JPMCB   Centrica   09/01/16   30,620,000   06/17/16   71.8%   22,000,000   188   21,973,779   188   1.8%   No   No   4.50000   0.01346   4.48654   Actual/360   111,470.77   1,337,649.24
21   SMF VI   Cicero Marketplace   06/30/16   28,700,000   06/10/16   71.3%   20,500,000   140   20,463,472   139   1.7%   No   No   4.17000   0.01346   4.15654   Actual/360   110,140.06   1,321,680.72
22   SMF VI   Hillside Industrial   07/14/16   64,400,000   07/12/16   60.6%   20,000,000   52   20,000,000   52   1.6%   No   No   5.13000   0.01346   5.11654   Actual/360   108,958.93   1,307,507.16
23   JPMCB   Embassy Suites Palmdale   05/31/16   29,900,000   04/20/16   66.9%   19,990,000   133,267   19,990,000   133,267   1.6%   No   Yes - Group 3   4.70000   0.01346   4.68654   Actual/360   113,392.33   1,360,707.96
24   BSP   Vadata - Manassas Data Center   09/06/16   50,100,000   06/23/16   37.9%   19,000,000   64   19,000,000   64   1.6%   No   Yes - Group 4   3.40000   0.01346   3.38654   Actual/360   54,581.02   654,972.24
25   JPMCB   The Villas of East Cobb   07/20/16   28,450,000   07/30/15   66.1%   19,000,000   45,894   18,816,164   45,450   1.5%   No   No   4.75000   0.01346   4.73654   Actual/360   99,112.99   1,189,355.88
26   JPMCB   Hilton Garden Inn Ridgefield Park   05/31/16   26,000,000   04/22/16   69.7%   18,120,000   129,429   18,120,000   129,429   1.5%   No   Yes - Group 3   4.90000   0.01346   4.88654   Actual/360   104,874.68   1,258,496.16
27   JPMCB   415 West 13th Street   09/01/16   49,900,000   07/14/16   36.1%   18,000,000   2,234   18,000,000   2,234   1.5%   No   No   3.75000   0.01346   3.73654   Actual/360   57,031.25   684,375.00
28   SMF VI   Embassy Suites Lake Buena Vista   05/31/16   61,800,000   03/21/16   62.2%   17,000,000   125,749   16,932,574   125,250   1.4%   No   No   5.48000   0.01346   5.46654   Actual/360   96,310.92   1,155,731.04
29   JPMCB   Shadow Creek Apartments   08/09/16   19,090,000   07/28/16   74.9%   14,300,000   48,311   14,300,000   48,311   1.2%   No   Yes - Group 6   4.78600   0.05346   4.73254   Actual/360   74,906.18   898,874.16
30   JPMCB   Wesley Pond   06/03/16   23,100,000   05/10/16   60.6%   14,000,000   56,911   14,000,000   56,911   1.1%   No   No   4.00000   0.01346   3.98654   Actual/360   47,314.81   567,777.78
31   SMF VI   Decatur Crossing II   08/02/16   18,400,000   06/17/16   73.8%   13,600,000   97   13,584,151   97   1.1%   No   No   4.60000   0.01346   4.58654   Actual/360   69,719.63   836,635.56
32   BSP   Vadata - Haymarket Data Center   09/06/16   35,500,000   06/22/16   36.6%   13,000,000   55   13,000,000   55   1.1%   No   Yes - Group 4   3.40000   0.01346   3.38654   Actual/360   37,344.91   448,138.92
33   JPMCB   Doubletree Fayetteville   07/31/16   16,500,000   04/01/16   64.8%   10,725,000   72,466   10,691,435   72,239   0.9%   No   No   5.30000   0.01346   5.28654   Actual/360   59,556.42   714,677.04
34   SMF VI   Triad and University Court Apartments   07/21/16   15,200,000   05/05/16   69.1%   10,500,000   75,540   10,500,000   75,540   0.9%   No   No   4.55000   0.01346   4.53654   Actual/360   53,514.36   642,172.32
34.01   SMF VI   Triad Apartments   07/21/16   11,600,000   05/05/16       8,013,158       8,013,158       0.7%                                
34.02   SMF VI   University Court Apartments   07/21/16   3,600,000   05/05/16       2,486,842       2,486,842       0.2%                                
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   08/01/16   54,300,000   08/19/16   67.2%   10,000,000   342   10,000,000   342   0.8%   No   No   5.07000   0.01043   5.05957   Actual/360   54,110.79   649,329.48
36   BSP   Arkansas Hotel Portfolio   05/31/16   15,200,000   Various   65.7%   10,000,000   63,291   9,986,603   63,206   0.8%   No   Yes - Group 7   4.87000   0.01346   4.85654   Actual/360   55,545.97   666,551.64
36.01   BSP   Holiday Inn Express Bentonville   05/31/16   8,200,000   06/13/17       5,360,360       5,353,179       0.4%                                
36.02   BSP   Fairfield Inn & Suites Springdale   05/31/16   7,000,000   06/13/16       4,639,640       4,633,424       0.4%                                
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   Various   12,975,000   07/07/16   72.5%   9,410,000   Various   9,410,000   Various   0.8%   No   No   4.75000   0.01346   4.73654   Actual/360   49,087.01   589,044.12
37.01   JPMCB   Sunshine Heights Shopping Center   08/17/16   10,100,000   07/07/16       7,324,933       7,324,933       0.6%                                
37.02   JPMCB   Attic Self Storage   07/18/16   2,875,000   07/07/16       2,085,067       2,085,067       0.2%                                
38   SMF VI   Hilton Home2 Suites Layton   03/31/16   13,000,000   04/18/16   69.9%   9,100,000   85,047   9,082,391   84,882   0.7%   No   No   5.40000   0.01346   5.38654   Actual/360   51,099.30   613,191.60
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   05/31/16   12,600,000   04/22/16   69.0%   8,700,000   69,600   8,700,000   69,600   0.7%   No   Yes - Group 3   4.90000   0.01346   4.88654   Actual/360   46,173.22   554,078.64
40   SMF VI   Holiday Inn Express - Aiken   06/30/16   12,000,000   05/01/16   66.3%   8,000,000   84,211   7,961,687   83,807   0.7%   No   No   4.99000   0.01346   4.97654   Actual/360   46,720.61   560,647.32
41   SMF VI   Shops at Laurel Springs   08/01/16   9,500,000   07/12/16   74.6%   7,085,000   103   7,085,000   103   0.6%   No   No   4.35000   0.01346   4.33654   Actual/360   35,269.97   423,239.64
42   BSP   Fort Wayne Office Portfolio   06/09/16   14,300,000   05/20/16   44.0%   6,300,000   35   6,286,104   35   0.5%   No   No   4.85000   0.01346   4.83654   Actual/360   33,244.59   398,935.08
42.01   BSP   Pointe Inverness II   06/09/16   5,600,000   05/20/16       2,467,133       2,461,691       0.2%                                
42.02   BSP   Executive Center I   06/09/16   4,500,000   05/20/16       1,982,517       1,978,145       0.2%                                
42.03   BSP   Executive Center II   06/09/16   4,200,000   05/20/16       1,850,350       1,846,268       0.2%                                
43   BSP   Fern Forest Apartments   07/06/16   8,320,000   05/17/16   74.8%   6,225,000   33,832   6,225,000   33,832   0.5%   No   No   4.53000   0.01346   4.51654   Actual/360   31,652.22   379,826.64
44   BSP   Douglasville Crossroads   07/08/16   8,200,000   05/17/16   70.6%   5,800,000   136   5,786,759   135   0.5%   No   No   4.70000   0.01346   4.68654   Actual/360   30,080.99   360,971.88
45   BSP   Seven Bridges   06/01/16   7,800,000   06/15/16   71.1%   5,550,000   113   5,543,385   113   0.5%   No   No   4.50000   0.01346   4.48654   Actual/360   28,121.03   337,452.36
46   BSP   Comfort Suites Raleigh-Durham Airport   03/31/16   8,900,000   05/03/16   61.5%   5,500,000   44,000   5,473,793   43,790   0.4%   No   Yes - Group 7   5.02000   0.01346   5.00654   Actual/360   32,216.57   386,598.84
47   BSP   Best Western Ellensburg   04/30/16   7,640,000   05/16/16   61.3%   4,700,000   85,455   4,686,540   85,210   0.4%   No   No   5.41000   0.01346   5.39654   Actual/360   28,610.05   343,320.60
48   SMF VI   State University Retail Portfolio   08/26/16   8,010,000   Various   55.6%   4,450,000   398   4,450,000   398   0.4%   No   No   4.30000   0.01346   4.28654   Actual/360   16,167.30   194,007.64
48.01   SMF VI   Blaze Pizza and First Watch   08/26/16   5,810,000   08/23/16       3,240,000       3,240,000       0.3%                                
48.02   SMF VI   Mattress Firm   08/26/16   2,200,000   06/16/16       1,210,000       1,210,000       0.1%                                
49   BSP   Summerfield Shoppes   07/08/16   5,700,000   06/20/16   75.0%   4,275,000   107   4,275,000   107   0.4%   No   No   5.05000   0.01346   5.03654   Actual/360   23,079.94   276,959.28
50   BSP   Holiday Inn Express Canton   05/31/16   6,900,000   05/01/17   57.9%   4,000,000   50,000   3,994,221   49,928   0.3%   No   No   5.35000   0.01346   5.33654   Actual/360   24,206.48   290,477.76
51   BSP   Wilshire Manor Apartments   04/30/16   4,250,000   09/30/15   64.2%   2,730,000   23,136   2,730,000   23,136   0.2%   No   No   5.25000   0.01346   5.23654   Actual/360   15,075.16   180,901.92
52   SMF VI   Bluffton Self Storage   05/31/16   3,175,000   11/10/15   74.8%   2,375,000   7,890   2,375,000   7,890   0.2%   No   No   4.98600   0.01346   4.97254   Actual/360   12,729.20   152,750.40

 

A-1-2 

 

 

Annex A-1                                                
                                                                             
                First     Partial IO   Partial IO Loan   Rem.   Rem.           Payment   Grace Period   Grace Period           Final     Maturity   Maturity   Prepayment
Loan #   Seller(1)   Property Name   Note Date   Payment Date   Last IO Payment   First P&I Payment   Term    Amort   I/O Period   Seasoning   Due Date   (Late Payment)    (Default)   Maturity Date   ARD Loan   Mat Date   Balance ($)(6)   LTV %(4)(5)   Provision (Payments)(12)
1   JPMCB   9 West 57th Street   08/30/16   10/01/16           120   0   120   0   1   1   0   09/01/26   No       100,000,000   29.8%   L(24),Def(89),O(7)
2   JPMCB   693 Fifth Avenue   06/10/16   08/01/16   07/01/18   08/01/18   118   300   24   2   1   0   0   07/01/26   No       62,765,498   37.4%   L(25),Grtr1%orYM(91),O(4)
3   JPMCB   Opry Mills   06/02/16   08/01/16           118   0   120   2   1   0   0   07/01/26   No       80,000,000   50.8%   L(26),Def(87),O(7)
4   JPMCB   Westfield San Francisco Centre   07/11/16   09/01/16           119   0   120   1   1   5   5   08/01/26   No       60,000,000   35.5%   L(25),DeforGrtr1%orYM(91),O(4)
5   JPMCB   1 Kaiser Plaza   06/30/16   08/01/16           118   0   120   2   1   0   5 (Twice per year)   07/01/26   No       60,000,000   45.8%   L(26),Def(90),O(4)
6   JPMCB   Salesforce Tower   08/25/16   10/01/16           120   0   120   0   1   0   0   09/01/26   No       60,000,000   59.6%   L(24),Def(93),O(3)
7   BSP   Amazon Buckeye Logistics Center   07/21/16   09/06/16           119   0   120   1   6   0   0   08/06/26   No       48,587,500   64.4%   L(25),Def(91),O(4)
8   SMF VI   Crocker Park Phase One & Two   07/25/16   09/06/16   08/06/21   09/06/21   119   360   60   1   6   0   0   08/06/26   No       36,844,874   60.1%   L(25),DeforGrtr1%orYM(92),O(3)
9   JPMCB   1333 Broadway   06/30/16   08/01/16           118   0   120   2   1   0   5 (Twice per year)   07/01/26   No       39,500,000   44.8%   L(26),Def(90),O(4)
10   JPMCB   Laguna Design Center   07/28/16   09/01/16   08/01/21   09/01/21   119   360   60   1   1   0   0   08/01/26   No       34,796,949   64.0%   L(25),Grtr1%orYM(92),O(3)
11   BSP   Sheraton Salt Lake City   08/25/16   10/06/16           120   360   0   0   6   0   0   09/06/26   No       29,067,442   57.9%   L(24),Def(92),O(4)
12   SMF VI   National Business Park   08/19/16   10/06/16           120   360   0   0   6   0   0   09/06/26   No       26,840,049   52.7%   L(24),Def(92),O(4)
12.01   SMF VI   4 Research Way                                                           8,122,230        
12.02   SMF VI   2 Research Way                                                           7,454,866        
12.03   SMF VI   107 College Road East                                                           4,377,401        
12.04   SMF VI   105 College Road East                                                           4,304,656        
12.05   SMF VI   103 College Road East                                                           2,580,896        
13   JPMCB   Embassy Suites Charleston   08/05/16   10/01/16   09/01/19   10/01/19   120   360   36   0   1   0   0   09/01/26   No       25,711,754   59.8%   L(25),Grtr1%orYM(88),O(7)
14   BSP   Vadata - Ashburn Data Center   07/21/16   09/06/16           119   0   120   1   6   5   0   08/06/26   No       28,000,000   36.4%   L(25),Def(90),O(5)
15   JPMCB   Embassy Suites Busch Gardens Hotel   08/05/16   10/01/16   09/01/19   10/01/19   120   360   36   0   1   0   0   09/01/26   No       23,938,529   62.2%   L(25),Grtr1%orYM(88),O(7)
16   JPMCB   100 East Wisconsin Avenue   08/25/16   10/01/16           120   360   0   0   1   0   0   09/01/26   No       19,766,096   51.7%   L(24),Def(93),O(3)
17   JPMCB   Homewood Suites Nashville Downtown   08/10/16   10/01/16           60   300   0   0   1   0   0   09/01/21   No       21,410,379   53.0%   L(25),Grtr1%orYM(32),O(3)
18   BSP   2500 83rd Street   07/20/16   09/06/16           119   359   0   1   6   0   0   08/06/26   No       19,223,741   56.9%   L(25),Def(91),O(4)
19   JPMCB   Fountains at the Bayou   08/26/16   10/01/16   09/01/17   10/01/17   60   360   12   0   1   0   0   09/01/21   No       20,668,077   70.3%   L(25),Grtr1%orYM(32),O(3)
20   JPMCB   Centrica   07/29/16   09/01/16           119   359   0   1   1   0   0   08/01/26   No       17,785,312   58.1%   L(25),Grtr1%orYM(91),O(4)
21   SMF VI   Cicero Marketplace   07/12/16   09/06/16           119   299   0   1   6   0   0   08/06/26   No       14,854,891   51.8%   L(25),Grtr1%orYM(90),O(5)
22   SMF VI   Hillside Industrial   05/16/16   07/06/16   06/06/18   07/06/18   117   360   24   3   6   0   0   06/06/26   No       17,362,730   52.6%   L(27),Def(89),O(4)
23   JPMCB   Embassy Suites Palmdale   08/10/16   10/01/16           60   300   0   0   1   0   0   09/01/21   No       17,692,992   59.2%   L(25),Grtr1%orYM(32),O(3)
24   BSP   Vadata - Manassas Data Center   07/21/16   09/06/16           119   0   120   1   6   5   0   08/06/26   No       19,000,000   37.9%   L(25),Def(90),O(5)
25   JPMCB   The Villas of East Cobb   12/17/15   02/01/16           76   352   0   8   1   0   0   01/01/23   No       16,726,924   58.8%   L(25),Grtr1%orYM(56),O(3)
26   JPMCB   Hilton Garden Inn Ridgefield Park   08/10/16   10/01/16           60   300   0   0   1   0   0   09/01/21   No       16,093,209   61.9%   L(25),Grtr1%orYM(32),O(3)
27   JPMCB   415 West 13th Street   08/05/16   10/01/16           120   0   120   0   1   0   0   09/01/26   No       18,000,000   36.1%   L(25),Grtr1%orYM(93),O(2)
28   SMF VI   Embassy Suites Lake Buena Vista   04/26/16   06/06/16           116   356   0   4   6   0   0   05/06/26   No       14,192,315   51.2%   L(28),Def(88),O(4)
29   JPMCB   Shadow Creek Apartments   08/26/16   10/01/16   09/01/17   10/01/17   60   360   12   0   1   0   0   09/01/21   No       13,398,874   70.2%   L(25),Grtr1%orYM(32),O(3)
30   JPMCB   Wesley Pond   07/01/16   08/01/16           118   0   120   2   1   0   0   07/01/26   No       14,000,000   60.6%   L(25),Grtr1%orYM(92),O(3)
31   SMF VI   Decatur Crossing II   08/05/16   09/06/16           119   359   0   1   6   0   0   08/06/26   No       11,032,209   60.0%   L(25),Def(91),O(4)
32   BSP   Vadata - Haymarket Data Center   07/21/16   09/06/16           119   0   120   1   6   5   0   08/06/26   No       13,000,000   36.6%   L(25),Def(90),O(5)
33   JPMCB   Doubletree Fayetteville   05/19/16   07/01/16           117   357   0   3   1   0   0   06/01/26   No       8,902,437   54.0%   L(27),Def(90),O(3)
34   SMF VI   Triad and University Court Apartments   07/27/16   09/06/16   08/06/19   09/06/19   119   360   36   1   6   0   0   08/06/26   No       9,202,452   60.5%   L(25),Def(91),O(4)
34.01   SMF VI   Triad Apartments                                                           7,022,924        
34.02   SMF VI   University Court Apartments                                                           2,179,528        
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   12/29/15   02/06/16   01/06/20   02/06/20   112   360   48   8   6   0   0   01/06/26   No       9,054,365   60.9%   L(24),Grtr1%orYM(89),O(7)
36   BSP   Arkansas Hotel Portfolio   07/26/16   09/06/16           119   299   0   1   6   0   0   08/06/26   No       7,677,324   50.5%   L(25),Def(91),O(4)
36.01   BSP   Holiday Inn Express Bentonville                                                           4,115,323        
36.02   BSP   Fairfield Inn & Suites Springdale                                                           3,562,002        
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   08/23/16   10/01/16           120   360   0   0   1   0   0   09/01/26   No       7,671,500   59.1%   L(24),Def(93),O(3)
37.01   JPMCB   Sunshine Heights Shopping Center                                                           5,971,650        
37.02   JPMCB   Attic Self Storage                                                           1,699,851        
38   SMF VI   Hilton Home2 Suites Layton   06/10/16   08/06/16           118   358   0   2   6   0   0   07/06/26   No       7,577,944   58.3%   L(26),Grtr1%orYM(90),O(4)
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   08/10/16   10/01/16           60   360   0   0   1   0   0   09/01/21   No       8,010,985   63.6%   L(25),Grtr1%orYM(32),O(3)
40   SMF VI   Holiday Inn Express - Aiken   05/31/16   07/06/16           117   297   0   3   6   0   0   06/06/26   No       5,978,879   49.8%   L(27),Def(89),O(4)
41   SMF VI   Shops at Laurel Springs   08/05/16   09/06/16   08/06/19   09/06/19   119   360   36   1   6   0   0   08/06/26   No       6,180,647   65.1%   L(25),Def(91),O(4)
42   BSP   Fort Wayne Office Portfolio   06/30/16   08/06/16           118   358   0   2   6   0   0   07/06/26   No       5,153,989   36.0%   L(26),Def(90),O(4)
42.01   BSP   Pointe Inverness II                                                           2,018,345        
42.02   BSP   Executive Center I                                                           1,621,885        
42.03   BSP   Executive Center II                                                           1,513,759        
43   BSP   Fern Forest Apartments   07/12/16   09/06/16   08/06/18   09/06/18   119   360   24   1   6   0   0   08/06/26   No       5,320,991   64.0%   L(25),Def(91),O(4)
44   BSP   Douglasville Crossroads   06/30/16   08/06/16           118   358   0   2   6   0   0   07/06/26   No       4,721,202   57.6%   L(26),Def(90),O(4)
45   BSP   Seven Bridges   07/15/16   09/06/16           119   359   0   1   6   0   0   08/06/26   No       4,486,750   57.5%   L(25),Def(91),O(4)
46   BSP   Comfort Suites Raleigh-Durham Airport   06/01/16   07/06/16           117   297   0   3   6   0   0   06/06/26   No       4,114,976   46.2%   L(27),Def(89),O(4)
47   BSP   Best Western Ellensburg   06/21/16   08/06/16           118   298   0   2   6   0   0   07/06/26   No       3,566,239   46.7%   L(26),Def(90),O(4)
48   SMF VI   State University Retail Portfolio   08/30/16   10/06/16           120   0   120   0   6   0   0   09/06/26   No       4,450,000   55.6%   L(24),Def(92),O(4)
48.01   SMF VI   Blaze Pizza and First Watch                                                           3,240,000        
48.02   SMF VI   Mattress Firm                                                           1,210,000        
49   BSP   Summerfield Shoppes   08/23/16   10/06/16           120   360   0   0   6   0   0   09/06/26   No       3,519,829   61.8%   L(24),Def(92),O(4)
50   BSP   Holiday Inn Express Canton   07/15/16   09/06/16           119   299   0   1   6   0   0   08/06/26   No       3,028,332   43.9%   L(25),Def(91),O(4)
51   BSP   Wilshire Manor Apartments   11/16/15   01/06/16   12/06/16   01/06/17   111   360   12   9   6   0   0   12/06/25   No       2,321,117   54.6%   L(33),Def(83),O(4)
52   SMF VI   Bluffton Self Storage   01/27/16   03/06/16   02/06/19   03/06/19   113   360   36   7   6   0   0   02/06/26   No       2,101,677   66.2%   L(18),Grtr1%orYM(98),O(4)

 

A-1-3 

 

 

Annex A-1                                                
                                                             
            HISTORICAL FINANCIALS(13)
                                                             
            2013   2013   2013   2014   2014   2014   2015   2015   2015   Most Recent   Most Recent   Most Recent    
Loan #   Seller(1)   Property Name   Revenues ($)   Total Expenses ($)   NOI ($)   Revenues ($)   Total Expenses ($)   NOI ($)   Revenues ($)   Total Expenses ($)   NOI ($)    Revenues ($)    Total Expenses ($)    NOI ($)   As of
1   JPMCB   9 West 57th Street   116,748,306   55,775,327   60,972,979   127,093,163   59,405,953   67,687,210   148,729,532   63,564,960   85,164,572   161,485,907   64,471,574   97,014,333   06/30/16
2   JPMCB   693 Fifth Avenue               8,701,285   3,798,967   4,902,318   18,736,883   4,528,682   14,208,201   19,303,224   4,712,493   14,590,731   03/31/16
3   JPMCB   Opry Mills   49,127,199   14,625,041   34,502,158   50,063,915   15,076,680   34,987,235   51,734,040   15,026,181   36,707,859   51,765,862   14,870,712   36,895,150   03/31/16
4   JPMCB   Westfield San Francisco Centre   84,120,789   35,722,327   48,398,462   84,621,362   36,493,338   48,128,023   88,603,550   37,649,371   50,954,179   90,654,772   38,690,784   51,963,988   03/31/16
5   JPMCB   1 Kaiser Plaza   13,704,072   7,386,059   6,318,013   17,631,874   8,349,112   9,282,762   15,981,958   8,094,580   7,887,377   16,130,286   8,299,682   7,830,604   03/31/16
6   JPMCB   Salesforce Tower   25,645,275   13,160,861   12,484,414   27,432,454   13,705,299   13,727,155   25,195,298   13,380,191   11,815,107   25,515,651   13,700,975   11,814,676   06/30/16
7   BSP   Amazon Buckeye Logistics Center   6,950,554   2,005,778   4,944,776   6,763,399   1,688,942   5,074,457   6,828,565   1,641,834   5,186,731   6,915,221   1,630,152   5,285,069   05/31/16
8   SMF VI   Crocker Park Phase One & Two   22,900,414   14,494,543   8,405,871   21,514,547   14,524,342   6,990,205   21,699,558   14,697,681   7,001,877   22,162,919   14,776,794   7,386,125   05/31/16
9   JPMCB   1333 Broadway   5,739,012   3,292,440   2,446,572   3,785,778   3,067,814   717,963   5,911,080   3,332,600   2,578,479   6,511,114   3,427,632   3,083,482   03/31/16
10   JPMCB   Laguna Design Center   4,589,699   1,577,747   3,011,952   4,512,314   1,645,743   2,866,571   4,898,623   1,741,969   3,156,654   4,910,751   1,717,784   3,192,967   04/30/16
11   BSP   Sheraton Salt Lake City   14,499,475   11,493,394   3,006,081   14,913,473   11,719,124   3,194,349   16,257,676   12,510,133   3,747,543   16,909,592   12,821,637   4,087,955   06/30/16
12   SMF VI   National Business Park   9,735,895   5,472,414   4,263,481   9,067,671   5,898,189   3,169,482   10,266,185   5,681,133   4,585,051   10,316,792   5,453,487   4,863,305   06/30/16
12.01   SMF VI   4 Research Way   3,907,750   1,719,607   2,188,142   2,437,897   1,835,518   602,380   2,721,560   1,914,649   806,911   3,315,903   1,909,104   1,406,799   06/30/16
12.02   SMF VI   2 Research Way   3,211,996   1,500,988   1,711,008   3,472,694   1,500,649   1,972,045   3,064,632   1,440,643   1,623,989   2,453,355   1,288,396   1,164,960   06/30/16
12.03   SMF VI   107 College Road East   157,879   746,274   -588,395   208,532   898,098   -689,566   2,057,337   846,949   1,210,388   2,033,862   811,873   1,221,989   06/30/16
12.04   SMF VI   105 College Road East   1,556,091   885,330   670,761   1,804,449   955,872   848,577   1,621,594   857,189   764,404   1,582,004   833,837   748,167   06/30/16
12.05   SMF VI   103 College Road East   902,179   620,215   281,964   1,144,099   708,053   436,046   801,062   621,703   179,359   931,667   610,277   321,390   06/30/16
13   JPMCB   Embassy Suites Charleston   15,003,084   10,677,592   4,325,492   14,292,269   10,382,454   3,909,815   14,571,573   10,693,269   3,878,304   14,198,250   10,209,198   3,989,052   06/30/16
14   BSP   Vadata - Ashburn Data Center                           4,869,096   852,098   4,016,998   4,885,481   845,378   4,040,103   03/31/16
15   JPMCB   Embassy Suites Busch Gardens Hotel   11,756,900   9,004,407   2,752,493   12,382,093   9,263,198   3,118,895   13,555,845   9,842,928   3,712,917   13,353,039   9,698,516   3,654,523   06/30/16
16   JPMCB   100 East Wisconsin Avenue   14,019,246   7,023,802   6,995,444   14,572,712   6,946,879   7,625,833   13,182,782   6,916,873   6,265,909   13,311,685   6,983,586   6,328,099   06/30/16
17   JPMCB   Homewood Suites Nashville Downtown   5,653,834   3,400,635   2,253,199   6,482,831   3,714,225   2,768,606   7,401,865   4,036,765   3,365,100   7,461,235   4,086,332   3,374,903   05/31/16
18   BSP   2500 83rd Street               1,874,934   767,753   1,107,181   2,199,863   890,048   1,309,816   2,379,641   842,100   1,537,542   05/31/16
19   JPMCB   Fountains at the Bayou   3,750,036   2,255,789   1,494,247   3,539,958   2,134,737   1,405,221   3,980,420   2,293,596   1,686,824   4,269,649   2,444,362   1,825,287   06/30/16
20   JPMCB   Centrica                                                    
21   SMF VI   Cicero Marketplace   2,896,360   1,059,973   1,836,387   2,873,927   1,046,328   1,827,600   2,872,519   921,760   1,950,759   2,955,077   951,430   2,003,647   05/31/16
22   SMF VI   Hillside Industrial   5,660,355   2,077,235   3,583,120   5,356,428   1,883,807   3,472,621   5,920,368   1,994,807   3,925,561   6,061,150   2,116,934   3,944,216   03/31/16
23   JPMCB   Embassy Suites Palmdale   5,840,991   4,291,667   1,549,323   6,424,658   4,751,184   1,673,474   6,801,323   4,588,390   2,212,933   7,146,891   4,882,703   2,264,188   05/31/16
24   BSP   Vadata - Manassas Data Center                                       3,168,331   345,555   2,822,776   03/31/16
25   JPMCB   The Villas of East Cobb   2,830,525   1,426,485   1,404,040   3,072,276   1,499,629   1,572,647   3,395,847   1,500,903   1,894,944   3,604,239   1,544,440   2,059,798   06/30/16
26   JPMCB   Hilton Garden Inn Ridgefield Park   5,957,881   4,102,481   1,855,399   6,345,690   4,304,423   2,041,266   6,317,906   4,459,658   1,858,247   6,493,105   4,510,907   1,982,198   05/31/16
27   JPMCB   415 West 13th Street   2,138,110   233,911   1,904,199   2,215,010   249,308   1,965,702   2,296,562   279,571   2,016,991   2,340,242   293,355   2,046,887   06/30/16
28   SMF VI   Embassy Suites Lake Buena Vista               8,950,710   8,310,063   640,647   16,183,032   11,744,153   4,438,879   16,835,050   11,913,261   4,921,789   05/31/16
29   JPMCB   Shadow Creek Apartments   1,836,111   1,084,102   752,009   1,957,832   1,055,161   902,671   2,259,223   1,062,961   1,196,262   2,325,303   1,156,401   1,168,902   06/30/16
30   JPMCB   Wesley Pond   2,018,535   982,724   1,035,811   2,114,027   1,101,705   1,012,323   2,424,906   1,190,860   1,234,046   2,515,125   1,168,340   1,346,786   05/31/16
31   SMF VI   Decatur Crossing II   1,089,460   280,589   808,871   1,152,435   313,721   838,714   1,538,564   315,338   1,223,226   1,612,019   354,922   1,257,097   06/30/16
32   BSP   Vadata - Haymarket Data Center                           2,200,719   349,051   1,851,668   2,147,922   271,333   1,876,589   03/31/16
33   JPMCB   Doubletree Fayetteville   4,937,535   3,593,423   1,344,112   5,340,364   3,977,800   1,362,564   5,304,669   3,917,538   1,387,131   5,337,206   3,786,139   1,551,067   07/31/16
34   SMF VI   Triad and University Court Apartments   1,843,893   993,391   850,502   1,901,873   1,025,217   876,656   1,952,590   955,152   997,438   1,967,640   946,015   1,021,625   06/30/16
34.01   SMF VI   Triad Apartments   1,431,335   789,154   642,182   1,467,796   825,579   642,217   1,516,615   768,847   747,768   1,536,456   768,980   767,476   06/30/16
34.02   SMF VI   University Court Apartments   412,557   204,238   208,320   434,078   199,638   234,439   435,976   186,305   249,671   431,184   177,035   254,149   06/30/16
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   3,843,893   1,605,390   2,238,503   2,987,919   1,572,490   1,415,429   3,243,762   1,677,874   1,565,888   3,795,415   985,318   2,810,096   06/30/16
36   BSP   Arkansas Hotel Portfolio               3,209,418   2,082,736   1,126,682   3,722,703   2,403,165   1,319,538   3,798,940   2,366,661   1,432,279   05/31/16
36.01   BSP   Holiday Inn Express Bentonville               1,699,856   1,149,007   550,849   2,013,189   1,332,985   680,204   2,017,725   1,320,284   697,441   05/31/16
36.02   BSP   Fairfield Inn & Suites Springdale               1,509,562   933,729   575,833   1,709,514   1,070,180   639,334   1,781,215   1,046,377   734,838   05/31/16
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   1,225,463   329,406   896,057   1,201,376   355,300   846,076   1,251,606   358,164   893,442   1,301,449   365,379   936,070   06/30/16
37.01   JPMCB   Sunshine Heights Shopping Center   787,404   182,521   604,883   754,223   202,225   551,998   833,910   210,686   623,224   860,809   218,221   642,588   06/30/16
37.02   JPMCB   Attic Self Storage   438,059   146,885   291,174   447,152   153,074   294,078   417,696   147,478   270,218   440,640   147,158   293,482   06/30/16
38   SMF VI   Hilton Home2 Suites Layton   1,998,519   1,216,829   781,690   2,741,951   1,487,742   1,254,209   2,675,387   1,523,385   1,152,002   2,694,072   1,550,720   1,143,352   03/31/16
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   3,177,446   2,247,190   930,256   3,473,370   2,503,202   970,167   3,513,567   2,516,186   997,381   3,639,285   2,634,228   1,005,057   05/31/16
40   SMF VI   Holiday Inn Express - Aiken                           2,315,981   1,547,421   768,560   2,638,235   1,612,316   1,025,919   06/30/16
41   SMF VI   Shops at Laurel Springs                           928,946   255,570   673,376   947,365   298,849   648,516   06/30/16
42   BSP   Fort Wayne Office Portfolio   2,181,450   1,285,915   895,535   2,265,879   1,412,715   853,164   1,945,432   1,355,293   590,139   1,779,269   1,344,106   435,163   05/31/16
42.01   BSP   Pointe Inverness II   796,419   409,483   386,936   750,236   429,354   320,882   749,262   408,633   340,629   729,406   408,384   321,022   05/31/16
42.02   BSP   Executive Center I   683,286   459,686   223,600   761,076   533,885   227,191   522,359   514,863   7,496   534,173   515,480   18,693   05/31/16
42.03   BSP   Executive Center II   701,745   416,745   285,000   754,567   449,476   305,091   673,811   431,797   242,014   515,690   420,242   95,448   05/31/16
43   BSP   Fern Forest Apartments   1,003,426   430,566   572,860   1,037,989   510,458   527,531   1,153,792   414,624   739,168   1,186,633   420,836   765,797   04/30/16
44   BSP   Douglasville Crossroads               599,487   134,279   465,208   588,694   140,118   448,575   652,637   156,113   496,524   05/31/16
45   BSP   Seven Bridges   869,363   398,634   470,729   1,078,616   469,841   608,775   1,254,561   473,547   781,014   1,187,586   464,553   723,033   05/31/16
46   BSP   Comfort Suites Raleigh-Durham Airport   2,147,803   1,644,189   503,614   2,472,204   1,864,797   607,407   2,623,958   1,884,251   739,707   2,674,769   1,928,346   746,423   03/31/16
47   BSP   Best Western Ellensburg   1,547,706   950,909   596,797   1,642,824   1,051,293   591,531   1,733,643   1,085,948   647,695   1,787,285   1,137,343   649,942   04/30/16
48   SMF VI   State University Retail Portfolio                                                    
48.01   SMF VI   Blaze Pizza and First Watch                                                    
48.02   SMF VI   Mattress Firm                                                    
49   BSP   Summerfield Shoppes   591,459   228,660   362,799   557,280   221,181   336,099   515,280   227,315   287,965   520,738   226,147   294,591   05/31/16
50   BSP   Holiday Inn Express Canton   1,087,988   713,587   374,401   1,169,329   776,075   393,254   1,337,978   853,820   484,158   1,396,822   909,615   487,208   05/31/16
51   BSP   Wilshire Manor Apartments                           811,727   552,518   259,209   917,431   524,501   392,930   04/30/16
52   SMF VI   Bluffton Self Storage   246,194   75,081   171,113   282,432   92,979   189,453   320,068   89,121   230,946                

 

A-1-4 

 

 

Annex A-1                                        
                                                             
                                                             
            UW                                                
            Economic   UW   UW Total   UW   UW Capital   UW   UW   UW NCF   UW NOI   UW NCF       Ground Lease   Ground Lease
Loan #   Seller(1)   Property Name   Occupancy %   Revenues ($)(3)   Expenses ($)   NOI ($)(3)(14)    Items ($)   NCF ($)(3)(14)    NOI DSCR(15)   DSCR(15)   Debt Yield %(5)    Debt Yield %(5)   Title Type(23)    Expiration    Extension Terms
1   JPMCB   9 West 57th Street   66.9%   166,714,099   58,877,243   107,836,855   738,788   107,098,067   3.67   3.64   10.6%   10.6%   Fee/Leasehold   05/22/98   None
2   JPMCB   693 Fifth Avenue   86.9%   20,153,750   4,235,787   15,917,963   206,811   15,711,152   1.01   1.00   6.4%   6.3%   Fee        
3   JPMCB   Opry Mills   95.0%   52,975,528   15,212,634   37,762,894   1,488,609   36,274,285   2.43   2.33   10.1%   9.7%   Fee        
4   JPMCB   Westfield San Francisco Centre   95.6%   95,016,729   38,462,539   56,554,190   1,736,500   54,817,690   3.79   3.68   13.1%   12.7%   Fee/Leasehold   06/30/43   One, 15-year option
5   JPMCB   1 Kaiser Plaza   95.0%   18,882,800   8,516,695   10,366,105   1,596,705   8,769,400   2.54   2.15   10.7%   9.0%   Fee        
6   JPMCB   Salesforce Tower   85.1%   27,585,123   13,874,433   13,710,690   1,878,699   11,831,991   2.87   2.47   12.7%   11.0%   Fee        
7   BSP   Amazon Buckeye Logistics Center   95.0%   6,095,258   1,613,245   4,482,013   423,360   4,058,653   2.02   1.83   9.2%   8.4%   Fee        
8   SMF VI   Crocker Park Phase One & Two   95.2%   22,427,857   9,412,556   13,015,301   1,046,508   11,968,793   1.46   1.34   9.3%   8.5%   Fee        
9   JPMCB   1333 Broadway   91.8%   7,601,588   3,561,546   4,040,042   679,672   3,360,371   2.44   2.03   10.2%   8.5%   Fee        
10   JPMCB   Laguna Design Center   92.9%   5,390,908   1,850,714   3,540,193   314,897   3,225,296   1.56   1.42   9.3%   8.5%   Fee        
11   BSP   Sheraton Salt Lake City   82.2%   16,909,592   12,801,111   4,108,481   0   4,108,481   1.76   1.76   11.7%   11.7%   Fee        
12   SMF VI   National Business Park   83.9%   10,548,206   5,231,535   5,316,671   671,002   4,645,668   1.56   1.36   9.7%   8.4%   Leasehold   12/31/37   Two, 10-year options
12.01   SMF VI   4 Research Way   90.2%   3,473,472   1,848,869   1,624,604   183,313   1,441,291                   Leasehold   12/31/37   Two, 10-year options
12.02   SMF VI   2 Research Way   70.8%   2,366,277   1,218,394   1,147,883   172,784   975,099                   Leasehold   12/31/37   Two, 10-year options
12.03   SMF VI   107 College Road East   100.0%   2,019,894   769,445   1,250,449   118,139   1,132,310                   Leasehold   12/31/37   Two, 10-year options
12.04   SMF VI   105 College Road East   79.2%   1,618,963   794,479   824,483   116,427   708,056                   Leasehold   12/31/37   Two, 10-year options
12.05   SMF VI   103 College Road East   81.7%   1,069,600   600,348   469,252   80,340   388,912                   Leasehold   12/31/37   Two, 10-year options
13   JPMCB   Embassy Suites Charleston   71.1%   14,198,250   10,678,769   3,519,481   0   3,519,481   2.03   2.03   11.9%   11.9%   Fee        
14   BSP   Vadata - Ashburn Data Center   95.0%   5,224,543   1,004,913   4,219,630   346,953   3,872,677   4.37   4.01   15.1%   13.8%   Fee        
15   JPMCB   Embassy Suites Busch Gardens Hotel   81.6%   13,408,480   9,852,851   3,555,629   0   3,555,629   2.20   2.20   12.9%   12.9%   Leasehold   11/07/81   None
16   JPMCB   100 East Wisconsin Avenue   91.9%   13,565,502   7,399,060   6,166,442   783,797   5,382,645   2.03   1.77   11.5%   10.0%   Fee        
17   JPMCB   Homewood Suites Nashville Downtown   84.7%   7,461,235   4,097,421   3,363,814   0   3,363,814   2.04   2.04   13.9%   13.9%   Fee        
18   BSP   2500 83rd Street   95.0%   2,988,117   995,307   1,992,810   102,531   1,890,279   1.34   1.27   8.5%   8.1%   Fee        
19   JPMCB   Fountains at the Bayou   89.8%   4,631,930   2,421,646   2,210,284   114,500   2,095,784   1.59   1.51   10.0%   9.5%   Fee        
20   JPMCB   Centrica   95.0%   2,566,575   480,182   2,086,393   146,228   1,940,165   1.56   1.45   9.5%   8.8%   Fee        
21   SMF VI   Cicero Marketplace   95.0%   2,964,915   949,785   2,015,130   80,587   1,934,543   1.52   1.46   9.8%   9.5%   Fee        
22   SMF VI   Hillside Industrial   95.0%   6,121,117   2,157,783   3,963,335   417,137   3,546,198   1.55   1.39   10.2%   9.1%   Fee        
23   JPMCB   Embassy Suites Palmdale   83.5%   7,146,891   4,891,971   2,254,920   0   2,254,920   1.66   1.66   11.3%   11.3%   Fee        
24   BSP   Vadata - Manassas Data Center   95.0%   3,438,775   628,407   2,810,369   220,938   2,589,430   4.29   3.95   14.8%   13.6%   Fee        
25   JPMCB   The Villas of East Cobb   89.0%   3,771,781   1,544,515   2,227,265   124,200   2,103,065   1.87   1.77   11.8%   11.2%   Fee        
26   JPMCB   Hilton Garden Inn Ridgefield Park   83.2%   6,493,105   4,516,586   1,976,519   0   1,976,519   1.57   1.57   10.9%   10.9%   Fee/Leasehold   06/30/56   Two, 10-year options followed by one option expiring on October 30, 2084.
27   JPMCB   415 West 13th Street   95.0%   2,270,759   329,674   1,941,085   116,035   1,825,050   2.84   2.67   10.8%   10.1%   Fee        
28   SMF VI   Embassy Suites Lake Buena Vista   83.2%   16,835,050   12,532,228   4,302,822   0   4,302,822   1.51   1.51   11.2%   11.2%   Fee        
29   JPMCB   Shadow Creek Apartments   91.2%   2,509,940   1,129,440   1,380,500   74,000   1,306,500   1.54   1.45   9.7%   9.1%   Fee        
30   JPMCB   Wesley Pond   91.0%   2,615,302   1,282,471   1,332,831   86,100   1,246,731   2.35   2.20   9.5%   8.9%   Fee        
31   SMF VI   Decatur Crossing II   90.5%   1,622,400   343,221   1,279,179   68,290   1,210,889   1.53   1.45   9.4%   8.9%   Fee        
32   BSP   Vadata - Haymarket Data Center   95.0%   2,314,193   352,503   1,961,690   160,279   1,801,411   4.38   4.02   15.1%   13.9%   Fee        
33   JPMCB   Doubletree Fayetteville   73.4%   5,247,961   3,979,803   1,268,158   0   1,268,158   1.77   1.77   11.9%   11.9%   Fee        
34   SMF VI   Triad and University Court Apartments   95.0%   1,960,605   940,217   1,020,388   57,519   962,870   1.59   1.50   9.7%   9.2%   Fee        
34.01   SMF VI   Triad Apartments   95.0%   1,541,479   759,781   781,698   43,703   737,996                   Fee        
34.02   SMF VI   University Court Apartments   95.0%   419,127   180,436   238,690   13,816   224,874                   Fee        
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   93.5%   4,532,565   1,605,226   2,927,340   140,724   2,786,616   1.24   1.18   8.0%   7.6%   Fee        
36   BSP   Arkansas Hotel Portfolio   71.0%   3,788,756   2,501,846   1,286,910   0   1,286,910   1.93   1.93   12.9%   12.9%   Fee        
36.01   BSP   Holiday Inn Express Bentonville   71.6%   2,012,363   1,357,146   655,217   0   655,217                   Fee        
36.02   BSP   Fairfield Inn & Suites Springdale   70.3%   1,776,393   1,144,700   631,693   0   631,693                   Fee        
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   89.3%   1,312,467   392,512   919,957   78,712   841,245   1.56   1.43   9.8%   8.9%   Fee        
37.01   JPMCB   Sunshine Heights Shopping Center   86.2%   826,465   227,757   598,708   71,545   527,163                   Fee        
37.02   JPMCB   Attic Self Storage   95.0%   486,003   164,755   321,249   7,167   314,082                   Fee        
38   SMF VI   Hilton Home2 Suites Layton   69.3%   2,694,072   1,657,417   1,036,655   0   1,036,655   1.69   1.69   11.4%   11.4%   Fee        
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   77.0%   3,639,285   2,638,718   1,000,567   0   1,000,567   1.81   1.81   11.5%   11.5%   Fee        
40   SMF VI   Holiday Inn Express - Aiken   71.2%   2,638,235   1,723,793   914,442   0   914,442   1.63   1.63   11.5%   11.5%   Fee        
41   SMF VI   Shops at Laurel Springs   91.7%   970,102   271,581   698,521   49,173   649,348   1.65   1.53   9.9%   9.2%   Fee        
42   BSP   Fort Wayne Office Portfolio   77.8%   2,172,729   1,332,069   840,660   83,790   756,870   2.11   1.90   13.4%   12.0%   Fee        
42.01   BSP   Pointe Inverness II   83.2%   815,310   423,028   392,282   27,183   365,098                   Fee        
42.02   BSP   Executive Center I   95.3%   863,442   494,038   369,404   28,047   341,357                   Fee        
42.03   BSP   Executive Center II   54.6%   493,976   415,002   78,974   28,560   50,414                   Fee        
43   BSP   Fern Forest Apartments   95.0%   1,149,150   507,305   641,845   46,000   595,845   1.69   1.57   10.3%   9.6%   Fee        
44   BSP   Douglasville Crossroads   95.0%   721,095   161,342   559,753   38,494   521,259   1.55   1.44   9.7%   9.0%   Fee        
45   BSP   Seven Bridges   84.9%   1,170,415   501,553   668,862   56,973   611,889   1.98   1.81   12.1%   11.0%   Fee        
46   BSP   Comfort Suites Raleigh-Durham Airport   69.6%   2,674,769   1,931,965   742,804   0   742,804   1.92   1.92   13.6%   13.6%   Fee        
47   BSP   Best Western Ellensburg   78.2%   1,779,098   1,132,463   646,635   0   646,635   1.88   1.88   13.8%   13.8%   Fee        
48   SMF VI   State University Retail Portfolio   94.8%   493,721   60,940   432,782   19,734   413,047   2.23   2.13   9.7%   9.3%   Fee        
48.01   SMF VI   Blaze Pizza and First Watch   94.6%   359,426   55,097   304,329   13,336   290,994                   Fee        
48.02   SMF VI   Mattress Firm   95.5%   134,295   5,843   128,453   6,399   122,054                   Fee        
49   BSP   Summerfield Shoppes   95.0%   672,950   223,977   448,973   50,000   398,973   1.62   1.44   10.5%   9.3%   Fee        
50   BSP   Holiday Inn Express Canton   57.3%   1,393,114   871,618   521,496   0   521,496   1.80   1.80   13.1%   13.1%   Fee        
51   BSP   Wilshire Manor Apartments   84.7%   917,431   561,026   356,405   35,400   321,005   1.97   1.77   13.1%   11.8%   Fee        
52   SMF VI   Bluffton Self Storage   83.1%   343,305   123,743   219,562   6,175   213,388   1.44   1.40   9.2%   9.0%   Fee        

 

A-1-5 

 

 

Annex A-1                                    
                                                 
                UPFRONT ESCROW(16)
                                                 
                Upfront CapEx   Upfront Engin.   Upfront Envir.   Upfront TI/LC   Upfront RE Tax   Upfront Ins.   Upfront Debt Service   Upfront Other   Other Upfront
Loan #   Seller(1)   Property Name   PML %   Reserve ($)   Reserve ($)    Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)(5)   Description ($)
1   JPMCB   9 West 57th Street       0   287,500   0   25,000,000   9,417,640   264,333   0   29,524,018   Free Rent Reserve: 16,462,227.63; Outstanding TI/LC Reserve: 13,061,789.91
2   JPMCB   693 Fifth Avenue       0   0   0   0   0   0   0   3,327,853   Outstanding TI Reserve: 3,022,059.98; Free Rent Reserve: 305,792.73
3   JPMCB   Opry Mills       0   0   0   0   0   0   0   3,943,000   Outstanding TI/LC Reserve
4   JPMCB   Westfield San Francisco Centre   13%   0   0   0   0   0   0   0   4,300,000   Zara Lease Reserve
5   JPMCB   1 Kaiser Plaza   14%   0   0   0   0   0   0   0   7,620,726   Outstanding TI/LC Reserve: 7,404,708; Free Rent Reserve: 216,018
6   JPMCB   Salesforce Tower       4,250,420   0   0   138,140   2,338,627   0   0   28,978,312   Outstanding TI/LC Reserve: 20,896,672; Free Rent Reserve: 8,081,640
7   BSP   Amazon Buckeye Logistics Center       0   0   0   0   463,609   22,457   0   0    
8   SMF VI   Crocker Park Phase One & Two       0   0   0   0   597,592   0   0   303,367   Unfunded Obligations Reserve: 165,183.33; Eddie Bauer Reserve: 138,183.51
9   JPMCB   1333 Broadway   12%   0   0   0   0   0   0   0   6,171,143   URS Tenant Estoppel Reserve: 5,000,000; Outstanding TI/LC Reserve: 1,171,143
10   JPMCB   Laguna Design Center   13%   5,350   73,400   0   1,486,081   274,992   0   0   412,461   Outstanding TI/LC Reserve: 315,242; Free Rent Reserve: 97,219
11   BSP   Sheraton Salt Lake City   14%   0   73,370   0   0   419,833   67,636   0   2,021,626   PIP Reserve
12   SMF VI   National Business Park       0   38,125   0   250,000   337,813   76,754   0   0    
12.01   SMF VI   4 Research Way                                        
12.02   SMF VI   2 Research Way                                        
12.03   SMF VI   107 College Road East                                        
12.04   SMF VI   105 College Road East                                        
12.05   SMF VI   103 College Road East                                        
13   JPMCB   Embassy Suites Charleston       0   0   0   0   246,400   0   0   0    
14   BSP   Vadata - Ashburn Data Center       0   0   0   0   150,718   0   0   0    
15   JPMCB   Embassy Suites Busch Gardens Hotel       0   0   0   0   363,110   0   0   0    
16   JPMCB   100 East Wisconsin Avenue       427,803   397,000   0   1,554,500   1,872,485   0   0   1,265,150   Free Rent Reserve: 1,090,951; Outstanding TI/LC Reserve: 174,199
17   JPMCB   Homewood Suites Nashville Downtown       24,871   112,500   0   0   147,884   0   0   0    
18   BSP   2500 83rd Street       0   0   0   0   29,938   27,189   0   0    
19   JPMCB   Fountains at the Bayou       9,542   37,250   0   0   383,270   0   0   0    
20   JPMCB   Centrica       1,463   0   0   0   65,885   8,446   0   4,196,239   Outstanding TI Reserve: 1,584,910; Additional Collateral Reserve: 1,500,000; Free Rent Reserve: 1,111,329
21   SMF VI   Cicero Marketplace       0   0   0   0   193,352   22,173   0   200,000   Office Max Reserve
22   SMF VI   Hillside Industrial       0   18,687   2,572,800   0   180,384   0   0   500,000   All Jays Enterprises TI/LC Reserve
23   JPMCB   Embassy Suites Palmdale   13%   327,302   0   0   0   235,602   0   0   0    
24   BSP   Vadata - Manassas Data Center       0   0   0   0   113,155   0   0   0    
25   JPMCB   The Villas of East Cobb       869,532   130,468   0   0   67,406   0   0   0    
26   JPMCB   Hilton Garden Inn Ridgefield Park       325,637   0   0   0   86,559   0   0   81,500   Ground Sublease Reserve
27   JPMCB   415 West 13th Street       0   0   0   0   0   0   0   0    
28   SMF VI   Embassy Suites Lake Buena Vista       0   0   0   0   365,843   304,318   0   3,400,000   Earnout Holdback Reserve
29   JPMCB   Shadow Creek Apartments       606,167   0   0   0   190,430   0   0   0    
30   JPMCB   Wesley Pond       246,000   58,750   0   0   394,980   106,402   0   1,530,320   Interior Renovation Reserve: 1,155,270; Capital Improvement Action Plan Reserve: 375,050
31   SMF VI   Decatur Crossing II       0   0   0   400,000   16,488   13,025   0   0    
32   BSP   Vadata - Haymarket Data Center       0   0   0   0   48,062   0   0   0    
33   JPMCB   Doubletree Fayetteville       21,927   1,585,000   0   0   69,980   5,311   0   0    
34   SMF VI   Triad and University Court Apartments       0   0   0   0   233,002   14,067   0   300,000   Performance Reserve
34.01   SMF VI   Triad Apartments                                        
34.02   SMF VI   University Court Apartments                                        
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   14%   0   0   0   200,000   0   0   0   0    
36   BSP   Arkansas Hotel Portfolio       0   33,750   0   0   0   34,351   0   2,370,289   PIP Reserve
36.01   BSP   Holiday Inn Express Bentonville                                        
36.02   BSP   Fairfield Inn & Suites Springdale                                        
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage       1,989   0   0   100,000   88,441   0   0   0    
37.01   JPMCB   Sunshine Heights Shopping Center                                        
37.02   JPMCB   Attic Self Storage                                        
38   SMF VI   Hilton Home2 Suites Layton   6%   0   0   0   0   65,224   16,943   0   0    
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista       20,835   0   0   0   69,751   0   0   0    
40   SMF VI   Holiday Inn Express - Aiken       0   0   0   0   58,965   0   0   0    
41   SMF VI   Shops at Laurel Springs       0   0   0   0   88,664   4,413   0   1,150,000   Major Tenant Reserve: 800,000; Parking Lot and Roof Repairs Reserve: 350,000
42   BSP   Fort Wayne Office Portfolio       0   361,963   0   500,000   38,542   6,698   0   358,790   Unfunded Obligations Reserve: 308,790; Zoning Reserve: 50,000
42.01   BSP   Pointe Inverness II                                        
42.02   BSP   Executive Center I                                        
42.03   BSP   Executive Center II                                        
43   BSP   Fern Forest Apartments       0   76,563   0   0   42,724   4,555   0   0    
44   BSP   Douglasville Crossroads       0   1,875   0   0   51,006   3,341   0   0    
45   BSP   Seven Bridges       0   0   0   225,000   11,969   3,765   0   0    
46   BSP   Comfort Suites Raleigh-Durham Airport       0   10,450   0   0   105,142   23,030   0   200,000   PIP Reserve
47   BSP   Best Western Ellensburg       0   4,688   0   0   15,232   13,272   0   221,300   PIP Reserve: 185,000; Seasonality Reserve: 36,300
48   SMF VI   State University Retail Portfolio       0   0   0   0   17,008   1,100   0   262,117   First Watch TI Reserve: 199,156; First Watch Free Rent Reserve: 33,307.10; First Watch Gap Rent: 29,654.04
48.01   SMF VI   Blaze Pizza and First Watch                                        
48.02   SMF VI   Mattress Firm                                        
49   BSP   Summerfield Shoppes       0   0   0   50,000   69,590   13,180   0   17,195   Free Rent Reserve
50   BSP   Holiday Inn Express Canton       0   0   0   0   32,691   16,422   0   1,015,544   PIP Reserve
51   BSP   Wilshire Manor Apartments       0   36,400   0   0   5,655   8,369   0   163,600   Unidentified Expense Reserve
52   SMF VI   Bluffton Self Storage       470   0   0   0   7,894   4,045   0   0    

 

A-1-6 

 

 

Annex A-1                            
                                     
            MONTHLY ESCROW(17)
                                     
            Monthly CapEx   Monthly Envir.   Monthly TI/LC   Monthly RE Tax   Monthly Ins.   Monthly Other   Other Monthly
Loan #   Seller(1)   Property Name   Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)   Reserve ($)   Description ($)
1   JPMCB   9 West 57th Street   61,615   0   Springing   3,139,213   88,111   0    
2   JPMCB   693 Fifth Avenue   0   0   0   Springing   Springing   0    
3   JPMCB   Opry Mills   Springing   0   Springing   Springing   Springing   0    
4   JPMCB   Westfield San Francisco Centre   Springing   0   Springing   Springing   Springing   Springing   Ground Rent Reserve
5   JPMCB   1 Kaiser Plaza   0   0   Springing   Springing   Springing   0    
6   JPMCB   Salesforce Tower   18,420   0   138,140   401,600   Springing   0    
7   BSP   Amazon Buckeye Logistics Center   8,411   0   0   92,722   7,486   0    
8   SMF VI   Crocker Park Phase One & Two   8,714   0   76,888   298,796   Springing   33,333   Unfunded Obligations Reserve
9   JPMCB   1333 Broadway   0   0   Springing   Springing   Springing   0    
10   JPMCB   Laguna Design Center   5,350   0   Springing   45,832   Springing   0    
11   BSP   Sheraton Salt Lake City   4% of Gross Revenues   0   0   38,167   9,662   0    
12   SMF VI   National Business Park   7,108   0   48,809   112,605   6,978   Springing   SES Americom Space Reserve: Springing; Dr. Reddy’s Space Reserve: Springing
12.01   SMF VI   4 Research Way                            
12.02   SMF VI   2 Research Way                            
12.03   SMF VI   107 College Road East                            
12.04   SMF VI   105 College Road East                            
12.05   SMF VI   103 College Road East                            
13   JPMCB   Embassy Suites Charleston   4% of Gross Revenues   0   0   35,200   Springing   Excess Cash   PIP Reserve
14   BSP   Vadata - Ashburn Data Center   3,589   0   0   50,239   Springing   0    
15   JPMCB   Embassy Suites Busch Gardens Hotel   4% of Gross Revenues   0   0   33,010   Springing   Excess Cash   PIP Reserve: Excess Cash; Ground Lease Reserve: Springing
16   JPMCB   100 East Wisconsin Avenue   10,900   0   54,500   208,100   Springing   0    
17   JPMCB   Homewood Suites Nashville Downtown   4% of Gross Revenues   0   0   18,486   Springing   0    
18   BSP   2500 83rd Street   2,447   0   6,117   29,938   9,063   0    
19   JPMCB   Fountains at the Bayou   9,542   0   0   42,586   Springing   0    
20   JPMCB   Centrica   Springing   0   5,849   9,412   4,223   0    
21   SMF VI   Cicero Marketplace   1,832   0   4,884   20,207   6,565   0    
22   SMF VI   Hillside Industrial   18,576   0   18,576   90,192   5,637   50,000   All Jays Enterprises TI/LC Reserve
23   JPMCB   Embassy Suites Palmdale   4% of Gross Revenues   0   0   29,450   Springing   0    
24   BSP   Vadata - Manassas Data Center   2,476   0   0   37,718   Springing   0    
25   JPMCB   The Villas of East Cobb   10,350   0   0   13,481   Springing   0    
26   JPMCB   Hilton Garden Inn Ridgefield Park   4% of Gross Revenues   0   0   43,279   Springing   $140,000 plus percentage rent   Ground Sublease Reserve: 140,000 plus percentage rent; PIP Reserve: Springing
27   JPMCB   415 West 13th Street   Springing   0   Springing   14,896   Springing   0    
28   SMF VI   Embassy Suites Lake Buena Vista   4% of Gross Revenues   0   0   52,263   26,568   0    
29   JPMCB   Shadow Creek Apartments   6,167   0   0   21,159   Springing   0    
30   JPMCB   Wesley Pond   5,125   0   0   16,458   Springing   0    
31   SMF VI   Decatur Crossing II   1,757   0   Springing   8,244   1,861   0    
32   BSP   Vadata - Haymarket Data Center   1,967   0   0   16,021   Springing   0    
33   JPMCB   Doubletree Fayetteville   5% of Gross Revenues   0   0   6,997   5,311   Springing   PIP Reserve
34   SMF VI   Triad and University Court Apartments   3,916   0   877   25,568   4,689   0    
34.01   SMF VI   Triad Apartments                            
34.02   SMF VI   University Court Apartments                            
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   2,392   0   11,078   42,750   Springing   0    
36   BSP   Arkansas Hotel Portfolio   3% of Gross Revenues   0   0   6,717   Springing   20,000   Seasonality Reserve
36.01   BSP   Holiday Inn Express Bentonville                            
36.02   BSP   Fairfield Inn & Suites Springdale                            
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   1,989   0   12,675   7,370   Springing   0    
37.01   JPMCB   Sunshine Heights Shopping Center                            
37.02   JPMCB   Attic Self Storage                            
38   SMF VI   Hilton Home2 Suites Layton   4% of Gross Revenues   0   0   7,247   1,412   0    
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   4% of Gross Revenues   0   0   9,964   Springing   0    
40   SMF VI   Holiday Inn Express - Aiken   4% of Gross Revenues   0   0   9,828   Springing   0    
41   SMF VI   Shops at Laurel Springs   856   0   2,853   8,866   823   0    
42   BSP   Fort Wayne Office Portfolio   3,716   0   7,433   19,271   1,675   0    
42.01   BSP   Pointe Inverness II                            
42.02   BSP   Executive Center I                            
42.03   BSP   Executive Center II                            
43   BSP   Fern Forest Apartments   3,833   0   0   5,341   2,278   0    
44   BSP   Douglasville Crossroads   534   0   2,670   5,667   835   0    
45   BSP   Seven Bridges   655   0   Springing   11,969   1,883   0    
46   BSP   Comfort Suites Raleigh-Durham Airport   2% of Gross Revenues   0   0   9,025   2,879   10,000   Seasonality Reserve
47   BSP   Best Western Ellensburg   4% of Gross Revenues   0   0   3,808   1,475   12,100   Seasonality Reserve
48   SMF VI   State University Retail Portfolio   140   0   Springing   2,835   367   0    
48.01   SMF VI   Blaze Pizza and First Watch                            
48.02   SMF VI   Mattress Firm                            
49   BSP   Summerfield Shoppes   833   0   3,333   6,326   2,636   0    
50   BSP   Holiday Inn Express Canton   2% of Gross Revenues   0   0   6,538   2,346   0    
51   BSP   Wilshire Manor Apartments   2,950   0   0   5,655   2,790   0    
52   SMF VI   Bluffton Self Storage   470   0   0   2,641   1,348   0    

 

A-1-7 

 

 

Annex A-1                                
                                         
            RESERVE CAPS(18)    
                                         
            CapEx   Envir.   TI/LC   RE Tax   Insur.   Debt Service   Other   Single
Loan #   Seller(1)   Property Name    Reserve Cap ($)    Reserve Cap ($)    Reserve Cap ($)    Reserve Cap ($)    Reserve Cap ($)    Reserve Cap ($)    Reserve Cap ($)   Tenant
1   JPMCB   9 West 57th Street   2,500,000       25,000,000                   No
2   JPMCB   693 Fifth Avenue                               No
3   JPMCB   Opry Mills   701,780       5,789,683                   No
4   JPMCB   Westfield San Francisco Centre   315,727       1,973,295                   No
5   JPMCB   1 Kaiser Plaza           18,000,000                   No
6   JPMCB   Salesforce Tower                               No
7   BSP   Amazon Buckeye Logistics Center                               Yes
8   SMF VI   Crocker Park Phase One & Two           5,000,000                   No
9   JPMCB   1333 Broadway           2,500,000                   No
10   JPMCB   Laguna Design Center           1,486,081                   No
11   BSP   Sheraton Salt Lake City                               No
12   SMF VI   National Business Park           2,600,000               SES Americom Space Reserve Cap: 2,521,503.80; Dr. Reddy’s Space Reserve Cap: 1,976,537.69   No
12.01   SMF VI   4 Research Way                               No
12.02   SMF VI   2 Research Way                               No
12.03   SMF VI   107 College Road East                               No
12.04   SMF VI   105 College Road East                               No
12.05   SMF VI   103 College Road East                               No
13   JPMCB   Embassy Suites Charleston                           8,065,543   No
14   BSP   Vadata - Ashburn Data Center   129,199                           Yes
15   JPMCB   Embassy Suites Busch Gardens Hotel                           PIP Reserve: 8,335,312   No
16   JPMCB   100 East Wisconsin Avenue                               No
17   JPMCB   Homewood Suites Nashville Downtown                               No
18   BSP   2500 83rd Street                               No
19   JPMCB   Fountains at the Bayou                               No
20   JPMCB   Centrica                               Yes
21   SMF VI   Cicero Marketplace           400,000                   No
22   SMF VI   Hillside Industrial           1,400,000                   No
23   JPMCB   Embassy Suites Palmdale                               No
24   BSP   Vadata - Manassas Data Center   89,148                           Yes
25   JPMCB   The Villas of East Cobb                               No
26   JPMCB   Hilton Garden Inn Ridgefield Park                               No
27   JPMCB   415 West 13th Street                               Yes
28   SMF VI   Embassy Suites Lake Buena Vista                               No
29   JPMCB   Shadow Creek Apartments                               No
30   JPMCB   Wesley Pond                               No
31   SMF VI   Decatur Crossing II   80,000       400,000                   No
32   BSP   Vadata - Haymarket Data Center   70,800                           Yes
33   JPMCB   Doubletree Fayetteville                               No
34   SMF VI   Triad and University Court Apartments                               No
34.01   SMF VI   Triad Apartments                               No
34.02   SMF VI   University Court Apartments                               No
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   86,148                           No
36   BSP   Arkansas Hotel Portfolio                           50,000   No
36.01   BSP   Holiday Inn Express Bentonville                               No
36.02   BSP   Fairfield Inn & Suites Springdale                               No
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   71,613       600,000                   No
37.01   JPMCB   Sunshine Heights Shopping Center                               No
37.02   JPMCB   Attic Self Storage                               No
38   SMF VI   Hilton Home2 Suites Layton                               No
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista                               No
40   SMF VI   Holiday Inn Express - Aiken                               No
41   SMF VI   Shops at Laurel Springs                               No
42   BSP   Fort Wayne Office Portfolio                               No
42.01   BSP   Pointe Inverness II                               No
42.02   BSP   Executive Center I                               No
42.03   BSP   Executive Center II                               No
43   BSP   Fern Forest Apartments   250,000                           No
44   BSP   Douglasville Crossroads   19,225       155,000                   No
45   BSP   Seven Bridges           225,000                   No
46   BSP   Comfort Suites Raleigh-Durham Airport                           30,000   No
47   BSP   Best Western Ellensburg                           72,600   No
48   SMF VI   State University Retail Portfolio                               Various
48.01   SMF VI   Blaze Pizza and First Watch                               No
48.02   SMF VI   Mattress Firm                               Yes
49   BSP   Summerfield Shoppes           250,000                   No
50   BSP   Holiday Inn Express Canton                               No
51   BSP   Wilshire Manor Apartments                               No
52   SMF VI   Bluffton Self Storage                               No

 

A-1-8 

 

 

Annex A-1                                    
                                             
            LARGEST TENANT (3), (19), (20), (21)   2nd LARGEST TENANT (3), (19), (20), (21)   3rd LARGEST TENANT (3), (19), (20), (21)
                                             
                    Lease           Lease           Lease
Loan #   Seller(1)   Property Name   Largest Tenant   Unit Size   Expiration   2nd Largest Tenant   Unit Size   Expiration   3rd Largest Tenant   Unit Size   Expiration
1   JPMCB   9 West 57th Street   Kohlberg, Kravis, Roberts & Co.   196,124   12/31/20   Chanel Inc.   185,120   05/31/31   Apollo Management Holdings, L.P.   111,194   04/30/20
2   JPMCB   693 Fifth Avenue   Valentino   14,425   07/31/29   JDS Development Group   11,635   04/30/20   Pierson Capital   9,629   08/31/20
3   JPMCB   Opry Mills   Bass Pro Shops   130,131   04/30/20   Regal Cinema   100,056   05/31/20   Dave & Buster’s   56,886   11/30/21
4   JPMCB   Westfield San Francisco Centre   San Francisco State University   125,483   12/31/21   Crunchyroll, Inc.   71,614   01/31/20   Century Theatres   52,636   09/30/21
5   JPMCB   1 Kaiser Plaza   Kaiser Foundation Health Plan, Inc.   366,777   02/28/25   Aiken & Welch, Inc.   11,635   04/30/21   Sitzmann Morris & Lavis, Inc.   9,838   03/31/17
6   JPMCB   Salesforce Tower   Salesforce.com, Inc.   247,099   06/30/30   JPMorgan Chase Bank, National Association   202,305   06/30/25   Bose McKinney & Evans, LLP   103,461   09/30/21
7   BSP   Amazon Buckeye Logistics Center   Amazon   1,009,351   09/30/21                        
8   SMF VI   Crocker Park Phase One & Two   Dick’s Sporting Goods   75,000   01/31/25   Fitness & Sports Clubs   40,000   02/28/31   Barnes & Noble   28,684   03/31/20
9   JPMCB   1333 Broadway   URS Corporation   73,061   02/28/22   U.S. Department of Agriculture   18,137   11/30/21   Teecom Design Group, Inc.   15,895   06/30/19
10   JPMCB   Laguna Design Center   Baker, Knapp And Tubbs   21,231   01/31/22   De Benedictis-Laguna, Inc.   12,146   12/31/17   Thomas Lavin   12,004   09/30/24
11   BSP   Sheraton Salt Lake City                                    
12   SMF VI   National Business Park                                    
12.01   SMF VI   4 Research Way   SES Americom   78,722   12/31/23   Technicolor USA   16,933   01/25/26   NTT Data Inc.   15,205   02/28/22
12.02   SMF VI   2 Research Way   Princeton Consultants   17,554   08/31/22   Abbott Point Of Care Inc.   13,408   12/31/24   Smith, Stratton   10,684   04/30/20
12.03   SMF VI   107 College Road East   Dr Reddy’s Inc.   75,584   12/11/24   Jaxgennaro LLC.   3,175   MTM            
12.04   SMF VI   105 College Road East   Drinker, Biddle   39,395   03/31/21   Hinduja Global Solutions   7,015   12/08/18   Metal Powder   4,393   12/31/26
12.05   SMF VI   103 College Road East   Van Note Harvey   16,684   07/19/25   IH Engineers   10,765   12/31/17   NJEFA   10,120   12/31/24
13   JPMCB   Embassy Suites Charleston                                    
14   BSP   Vadata - Ashburn Data Center   Vadata, Inc.   430,663   07/31/24                        
15   JPMCB   Embassy Suites Busch Gardens Hotel                                    
16   JPMCB   100 East Wisconsin Avenue   Michael Best & Friedrich LLP   89,725   12/31/19   The Marcus Corporation   45,310   11/30/20   Wells Fargo Bank, N.A.   41,036   10/31/23
17   JPMCB   Homewood Suites Nashville Downtown                                    
18   BSP   2500 83rd Street   Beverage Direct Inc.   61,658   04/30/20   EXP Group LLC   45,660   07/13/31   Space Shipping Inc.   41,764   10/31/23
19   JPMCB   Fountains at the Bayou                                    
20   JPMCB   Centrica   Santander Consumer USA, Inc.   116,982   09/30/26                        
21   SMF VI   Cicero Marketplace   Price Chopper   68,966   05/31/23   OfficeMax   19,917   03/31/17   Dollar Tree   11,070   01/31/19
22   SMF VI   Hillside Industrial   Union Beverage Packers LLC   380,763   05/31/23   All Jays Enterprises   270,884   08/31/27   Allports Logistics Anchor   48,600   05/31/21
23   JPMCB   Embassy Suites Palmdale                                    
24   BSP   Vadata - Manassas Data Center   Vadata, Inc.   297,160   08/31/25                        
25   JPMCB   The Villas of East Cobb                                    
26   JPMCB   Hilton Garden Inn Ridgefield Park                                    
27   JPMCB   415 West 13th Street   AllSaints USA, Ltd.   8,058   04/30/26                        
28   SMF VI   Embassy Suites Lake Buena Vista                                    
29   JPMCB   Shadow Creek Apartments                                    
30   JPMCB   Wesley Pond                                    
31   SMF VI   Decatur Crossing II   Amarr Company   20,032   10/31/21   ABM Building Services   18,525   05/31/22   Micros System (Oracle America)   14,051   02/28/20
32   BSP   Vadata - Haymarket Data Center   Vadata, Inc.   236,000   12/31/23                        
33   JPMCB   Doubletree Fayetteville                                    
34   SMF VI   Triad and University Court Apartments                                    
34.01   SMF VI   Triad Apartments   Santoras/TBF Mgmt   5,500   02/28/26   Arirang Karaoke   3,450   09/30/20   Billy’s Bar   3,100   11/30/22
34.02   SMF VI   University Court Apartments                                    
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   Butterfield Productions   45,158   05/31/22   Kung Fu Factory   11,356   10/31/19   The Regents of University of California   9,148   06/30/19
36   BSP   Arkansas Hotel Portfolio                                    
36.01   BSP   Holiday Inn Express Bentonville                                    
36.02   BSP   Fairfield Inn & Suites Springdale                                    
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage                                    
37.01   JPMCB   Sunshine Heights Shopping Center   Stage   25,516   01/31/25   Dollar Tree   11,466   05/31/28   Burkes   11,108   04/30/18
37.02   JPMCB   Attic Self Storage                                    
38   SMF VI   Hilton Home2 Suites Layton                                    
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista                                    
40   SMF VI   Holiday Inn Express - Aiken                                    
41   SMF VI   Shops at Laurel Springs   Publix   47,955   01/31/19   Rucker Pet & Wild Bird   5,110   07/31/18   Taqueria Los Hermanos   2,800   05/31/20
42   BSP   Fort Wayne Office Portfolio                                    
42.01   BSP   Pointe Inverness II   Summit Reinsurance Svcs (ACH)   6,970   06/30/17   Aerotek, Inc./Allegis (ACH)   6,247   12/31/21   TEK Systems,/Allegis (ACH)   5,141   03/31/22
42.02   BSP   Executive Center I   Rea Magnet Wire Company, Inc.   23,343   08/31/25   Morpho Trust USA   14,471   03/31/26   Trelleborg Sealing Solutions   8,680   06/30/18
42.03   BSP   Executive Center II   Aetna Life Insurance Company   28,142   08/31/21   Morpho Trust USA   4,203   03/31/26   Centene Management Company   2,332   03/31/17
43   BSP   Fern Forest Apartments                                    
44   BSP   Douglasville Crossroads   Dollar Tree   8,000   05/31/19   Stevi B’s Pizza Buffet   5,000   12/31/26   Shoe Show, Inc.   4,988   11/30/20
45   BSP   Seven Bridges   SVM Acquisition 1 LLC   5,447   07/31/19   Little Kids Learning Center   4,934   01/31/24   Jam N Jelly Cafe, Inc.   4,441   03/31/20
46   BSP   Comfort Suites Raleigh-Durham Airport                                    
47   BSP   Best Western Ellensburg                                    
48   SMF VI   State University Retail Portfolio                                    
48.01   SMF VI   Blaze Pizza and First Watch   First Watch   3,718   12/31/26   Blaze Pizza   3,359   01/31/26            
48.02   SMF VI   Mattress Firm   Mattress Firm   4,113   05/31/27                        
49   BSP   Summerfield Shoppes   It’s Kidz Time of Riverview   10,000   09/30/22   Shapes Fitness For Women   7,200   11/30/26   Optimal Performance and Physical Therapies   4,000   06/30/22
50   BSP   Holiday Inn Express Canton                                    
51   BSP   Wilshire Manor Apartments                                    
52   SMF VI   Bluffton Self Storage                                    

 

A-1-9 

 

 

Annex A-1                                
                                         
            4th LARGEST TENANT (3), (19), (20), (21)   5th LARGEST TENANT (3), (19), (20), (21)        
                                         
                    Lease           Lease   Loan    
Loan #   Seller(1)   Property Name   4th Largest Tenant   Unit Size   Expiration   5th Largest Tenant   Unit Size   Expiration   Purpose   Principal / Carveout Guarantor(22)
1   JPMCB   9 West 57th Street   Och Ziff Management LP   95,200   12/31/29   Tiger Global Management LLC   43,490   07/31/24   Refinance   Sheldon H. Solow
2   JPMCB   693 Fifth Avenue   Carpenters Workshop Gallery   5,075   02/28/31   Louis Licari   4,847   05/31/25   Acquisition   Marc de Lacharrière
3   JPMCB   Opry Mills   Forever 21   53,244   01/31/19   Bed Bath & Beyond   30,966   03/31/22   Refinance   Simon Property Group, L.P.
4   JPMCB   Westfield San Francisco Centre   Bespoke   36,977   12/31/21   True Ultimate Standards Every   28,217   02/29/20   Refinance   Westfield America, Inc.
5   JPMCB   1 Kaiser Plaza   Michael Baker Jr. Inc.   9,838   08/31/18   Asian & Pacific Islander American Health Forum   7,862   03/26/22   Recapitalization   CIM Commercial Trust Corporation
6   JPMCB   Salesforce Tower   Ernst & Young U.S. LLP   37,487   09/30/23   Ogletree, Deakins, Nash, Smoak & Stewart, P.C.   36,573   06/30/22   Acquisition   William Z. Hertz, Isaac Hertz, Sarah Hertz
7   BSP   Amazon Buckeye Logistics Center                           Acquisition   Raymond E. Wirta
8   SMF VI   Crocker Park Phase One & Two   Regal Cinemas Crocker Park 16   24,442   04/30/20   H&M   20,148   07/31/18   Refinance   Robert L. Stark, Morry Weiss
9   JPMCB   1333 Broadway   State of California Public Utilities Commission   15,441   10/31/17   Walgreens   13,738   04/30/44   Recapitalization   CIM Commercial Trust Corporation
10   JPMCB   Laguna Design Center   Harsey & Harsey   11,699   01/31/22   Realty One Group   8,305   12/31/20   Acquisition   William L. Hutchinson, Donald Engle
11   BSP   Sheraton Salt Lake City                           Acquisition   Driftwood Acquisition & Development, L.P.
12   SMF VI   National Business Park                           Refinance   John Zirinsky
12.01   SMF VI   4 Research Way                                
12.02   SMF VI   2 Research Way   CitiusTech Inc.   5,493   10/31/18   Management Office   5,400   11/14/18        
12.03   SMF VI   107 College Road East                                
12.04   SMF VI   105 College Road East   FTI Consulting   4,260   06/23/19   Trustees of Princeton University   4,194   12/31/20        
12.05   SMF VI   103 College Road East   Zensar Technologies   2,645   05/10/21   Therapedic Sleep Products   2,379   12/31/20        
13   JPMCB   Embassy Suites Charleston                           Refinance   Atrium Leveraged Loan Fund, LLC
14   BSP   Vadata - Ashburn Data Center                           Acquisition   Corporate Office Properties, L.P.
15   JPMCB   Embassy Suites Busch Gardens Hotel                           Refinance   Atrium Leveraged Loan Fund, LLC
16   JPMCB   100 East Wisconsin Avenue   Johnson Bank   23,540   04/30/21   The Holter Agency   22,654   09/30/20   Acquisition   William Z. Hertz, Isaac Hertz, Sarah Hertz
17   JPMCB   Homewood Suites Nashville Downtown                           Refinance   Bharat N. Patel, Naveen Shah
18   BSP   2500 83rd Street   Accupack Warehousing & Distribution   23,788   05/31/20   East Coast Egg Transport, LLC   19,511   05/31/17   Refinance   Emil Serafino
19   JPMCB   Fountains at the Bayou                           Refinance   Swapnil Agarwal
20   JPMCB   Centrica                           Acquisition   Marton Grossman
21   SMF VI   Cicero Marketplace   Buffalo Wild Wings   6,423   03/31/17   Men’s Wearhouse   6,004   02/28/23   Refinance   Charles Garfunkel, Norman Bobrow
22   SMF VI   Hillside Industrial   CDE Investments   10,500   01/31/21   Alltrans Refrigeration Servicing   7,320   06/30/18   Refinance   Stuart Lichter
23   JPMCB   Embassy Suites Palmdale                           Refinance   Bharat N. Patel, Naveen Shah
24   BSP   Vadata - Manassas Data Center                           Acquisition   Corporate Office Properties, L.P.
25   JPMCB   The Villas of East Cobb                           Recapitalization   Donald Lippman
26   JPMCB   Hilton Garden Inn Ridgefield Park                           Refinance   Bharat N. Patel, Naveen Shah
27   JPMCB   415 West 13th Street                           Refinance   RREEF Spezial Invest GmbH
28   SMF VI   Embassy Suites Lake Buena Vista                           Refinance   Kenneth K. Kochenour
29   JPMCB   Shadow Creek Apartments                           Refinance   Swapnil Agarwal
30   JPMCB   Wesley Pond                           Acquisition   David Fisher, Joshua Ungerecht, Warren Thomas, Ryan Millsap
31   SMF VI   Decatur Crossing II   Dolphin Winder   13,293   05/31/18   Spirit Rock   12,608   10/31/17   Refinance   Terrall C. York
32   BSP   Vadata - Haymarket Data Center                           Acquisition   Corporate Office Properties, L.P.
33   JPMCB   Doubletree Fayetteville                           Refinance   Avtar Dhaliwal, Sanjiv Khetarpal
34   SMF VI   Triad and University Court Apartments                           Refinance   Jeffrey Marc Rotter, Mitchell Evan Russell
34.01   SMF VI   Triad Apartments   Ramsey’s Sheesha Lounge   2,600   04/30/20   Arirang Restaurant   2,100   04/30/25        
34.02   SMF VI   University Court Apartments                                
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   East-West Eye Institute   3,329   04/30/21   Development Corp for Israel-IB   3,212   04/30/18   Acquisition   Albert Taban
36   BSP   Arkansas Hotel Portfolio                           Acquisition   Leslie Ng, Paul A. Nussbaum
36.01   BSP   Holiday Inn Express Bentonville                                
36.02   BSP   Fairfield Inn & Suites Springdale                                
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage                           Refinance   James H. Jenkins, III, Blair Jenkins Kelly
37.01   JPMCB   Sunshine Heights Shopping Center   Goodwill   10,288   02/28/18   Rent-A-Center   6,793   07/31/18        
37.02   JPMCB   Attic Self Storage                                
38   SMF VI   Hilton Home2 Suites Layton                           Refinance   Kevin S. Garn, Douglas Durbano
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista                           Refinance   Bharat N. Patel, Naveen Shah
40   SMF VI   Holiday Inn Express - Aiken                           Refinance   Ashok Patel, Surendra Patel
41   SMF VI   Shops at Laurel Springs   Esquire Cleaners   1,750   05/31/18   Spa Nails   1,400   02/28/19   Recapitalization   Michael G. Bisciotti
42   BSP   Fort Wayne Office Portfolio                           Refinance   Raymond Massa
42.01   BSP   Pointe Inverness II   Inverness Office Management LLC   4,980   02/28/26   Ruoff Mortgage Company, Inc.   4,815   08/31/20        
42.02   BSP   Executive Center I   Lenovo (United States), Inc.   5,523   03/31/19   Azar, Incorporated   2,837   07/31/18        
42.03   BSP   Executive Center II                                
43   BSP   Fern Forest Apartments                           Acquisition   Sky Management Services LLC
44   BSP   Douglasville Crossroads   Cato Corporation   4,500   01/31/20   It’s Fashion   4,032   01/31/21   Refinance   Dennis Paquet
45   BSP   Seven Bridges   ATI Physical Therapy   3,001   09/30/21   Seven Bridges Eye Care   2,408   02/28/20   Acquisition   Gerald Lee Nudo
46   BSP   Comfort Suites Raleigh-Durham Airport                           Acquisition   Leslie Ng, Paul A. Nussbaum
47   BSP   Best Western Ellensburg                           Refinance   Torre T. Morgal, Scott A. Mary
48   SMF VI   State University Retail Portfolio                           Acquisition   David E. Salmanson, Trustee of the David E. Salmanson GST Exempt Trust 2015
48.01   SMF VI   Blaze Pizza and First Watch                                
48.02   SMF VI   Mattress Firm                                
49   BSP   Summerfield Shoppes   Dr. Daniel Otero   2,400   03/31/17   Fishhawk Family Dental, PA   2,400   05/31/22   Refinance   Richard M. Cohen
50   BSP   Holiday Inn Express Canton                           Refinance   Vikram D. Patel, Jagdish B. Patel
51   BSP   Wilshire Manor Apartments                           Acquisition   George Lintz, Aaron Weisman, Steven Bram
52   SMF VI   Bluffton Self Storage                           Acquisition   Ryan L. Hanks

 

A-1-10 

 

 

Annex A-1                                                
                                                         
                    Pari Passu Debt(25)   Additional Debt(26)
                        Pari Passu   Pari Passu   Pari Passu   Total Cut-off               Additional    
            Lockbox   Lockbox   Pari Passu   Note Control   Piece  In Trust   Piece Non Trust   Date Pari   Addit Debt   Addit Debt   Additional   Debt Cut off   Additional Debt
Loan #   Seller(1)   Property Name    (Y/N)    Type(24)   (Y/N)   (Y/N)   Cut-Off Balance   Cut-Off Balance   Passu Debt   Permitted (Y/N)   Exist (Y/N)   Debt Type(s)   Date Balance   Interest Rate
1   JPMCB   9 West 57th Street   Yes   CMA   Yes   No   100,000,000   913,724,000   1,013,724,000   Yes   Yes   Subordinate Debt/Permitted Mezzanine   186,276,000   2.85950
2   JPMCB   693 Fifth Avenue   Yes   Hard   Yes   No   80,000,000   170,000,000   250,000,000   No   No   NAP   NAP   NAP
3   JPMCB   Opry Mills   Yes   CMA   Yes   No   80,000,000   295,000,000   375,000,000   No   No   NAP   NAP   NAP
4   JPMCB   Westfield San Francisco Centre   Yes   CMA   Yes   No   60,000,000   373,077,000   433,077,000   No   Yes   Subordinate Debt   124,923,000   3.39400
5   JPMCB   1 Kaiser Plaza   Yes   CMA   Yes   Yes   60,000,000   37,100,000   97,100,000   Yes   No   Permitted Mezzanine   NAP   NAP
6   JPMCB   Salesforce Tower   Yes   Hard   Yes   Yes   60,000,000   48,000,000   108,000,000   No   Yes   Mezzanine Loan   24,500,000   7.25000
7   BSP   Amazon Buckeye Logistics Center   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
8   SMF VI   Crocker Park Phase One & Two   Yes   CMA   Yes   No   40,000,000   100,000,000   140,000,000   No   No   NAP   NAP   NAP
9   JPMCB   1333 Broadway   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
10   JPMCB   Laguna Design Center   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
11   BSP   Sheraton Salt Lake City   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
12   SMF VI   National Business Park   Yes   CMA   Yes   Yes   33,000,000   22,000,000   55,000,000   No   No   NAP   NAP   NAP
12.01   SMF VI   4 Research Way                                                
12.02   SMF VI   2 Research Way                                                
12.03   SMF VI   107 College Road East                                                
12.04   SMF VI   105 College Road East                                                
12.05   SMF VI   103 College Road East                                                
13   JPMCB   Embassy Suites Charleston   Yes   Hard   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
14   BSP   Vadata - Ashburn Data Center   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
15   JPMCB   Embassy Suites Busch Gardens Hotel   Yes   Hard   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
16   JPMCB   100 East Wisconsin Avenue   Yes   Hard   Yes   No   25,000,000   28,800,000   53,800,000   No   Yes   Mezzanine Loan   10,000,000   11.00000
17   JPMCB   Homewood Suites Nashville Downtown   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
18   BSP   2500 83rd Street   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
19   JPMCB   Fountains at the Bayou   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
20   JPMCB   Centrica   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
21   SMF VI   Cicero Marketplace   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
22   SMF VI   Hillside Industrial   Yes   CMA   Yes   Yes   20,000,000   19,000,000   39,000,000   No   No   NAP   NAP   NAP
23   JPMCB   Embassy Suites Palmdale   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
24   BSP   Vadata - Manassas Data Center   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
25   JPMCB   The Villas of East Cobb   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
26   JPMCB   Hilton Garden Inn Ridgefield Park   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
27   JPMCB   415 West 13th Street   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   Yes   Subordinate Debt/Permitted Mezzanine   7,000,000   9.00000
28   SMF VI   Embassy Suites Lake Buena Vista   Yes   Springing   Yes   Yes   16,932,574   24,900,844   41,833,418   No   No   NAP   NAP   NAP
29   JPMCB   Shadow Creek Apartments   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
30   JPMCB   Wesley Pond   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
31   SMF VI   Decatur Crossing II   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
32   BSP   Vadata - Haymarket Data Center   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
33   JPMCB   Doubletree Fayetteville   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
34   SMF VI   Triad and University Court Apartments   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
34.01   SMF VI   Triad Apartments                                                
34.02   SMF VI   University Court Apartments                                                
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   Yes   Springing   Yes   No   10,000,000   26,500,000   36,500,000   No   No   NAP   NAP   NAP
36   BSP   Arkansas Hotel Portfolio   Yes   CMA   No   NAP   NAP   NAP   NAP   No   Yes   B-Note   1,098,526   13.75000
36.01   BSP   Holiday Inn Express Bentonville                                                
36.02   BSP   Fairfield Inn & Suites Springdale                                                
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
37.01   JPMCB   Sunshine Heights Shopping Center                                                
37.02   JPMCB   Attic Self Storage                                                
38   SMF VI   Hilton Home2 Suites Layton   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   Yes   CMA   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP
40   SMF VI   Holiday Inn Express - Aiken   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
41   SMF VI   Shops at Laurel Springs   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
42   BSP   Fort Wayne Office Portfolio   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
42.01   BSP   Pointe Inverness II                                                
42.02   BSP   Executive Center I                                                
42.03   BSP   Executive Center II                                                
43   BSP   Fern Forest Apartments   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
44   BSP   Douglasville Crossroads   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
45   BSP   Seven Bridges   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
46   BSP   Comfort Suites Raleigh-Durham Airport   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
47   BSP   Best Western Ellensburg   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
48   SMF VI   State University Retail Portfolio   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
48.01   SMF VI   Blaze Pizza and First Watch                                                
48.02   SMF VI   Mattress Firm                                                
49   BSP   Summerfield Shoppes   Yes   Springing   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
50   BSP   Holiday Inn Express Canton   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
51   BSP   Wilshire Manor Apartments   Yes   CMA   No   NAP   NAP   NAP   NAP   No   No   NAP   NAP   NAP
52   SMF VI   Bluffton Self Storage   Yes   Springing   No   NAP   NAP   NAP   NAP   Yes   No   Permitted Mezzanine   NAP   NAP

 

A-1-11 

 

 

Annex A-1                                                                            
                                                                                         
            Total Debt(5)   HOTEL OPERATING STATISTICS    
                Total Debt       Total Debt                                                                
            Total Debt    UW NCF   Total Debt    UW NOI   2013   2013   2013   2014   2014   2014   2015   2015   2015   Most Recent   Most Recent   Most Recent   UW   UW   UW    
Loan #   Seller(1)   Property Name    Cut-off Balance    DSCR   Current LTV %    Debt Yield %   Occupancy %    ADR ($)    RevPAR ($)    Occupancy %    ADR ($)    RevPAR ($)    Occupancy %    ADR ($)    RevPAR ($)    Occupancy %    ADR ($)    RevPAR ($)   Occupancy %    ADR ($)    RevPAR ($)   Loan #
1   JPMCB   9 West 57th Street   1,200,000,000   3.08   35.3%   9.0%                                                               1
2   JPMCB   693 Fifth Avenue   250,000,000   1.00   47.6%   6.4%                                                               2
3   JPMCB   Opry Mills   375,000,000   2.33   50.8%   10.1%                                                               3
4   JPMCB   Westfield San Francisco Centre   558,000,000   2.85   45.7%   10.1%                                                               4
5   JPMCB   1 Kaiser Plaza   97,100,000   2.15   45.8%   10.7%                                                               5
6   JPMCB   Salesforce Tower   132,500,000   1.41   73.2%   10.3%                                                               6
7   BSP   Amazon Buckeye Logistics Center   NAP   NAP   NAP   NAP                                                               7
8   SMF VI   Crocker Park Phase One & Two   140,000,000   1.34   65.3%   9.3%                                                               8
9   JPMCB   1333 Broadway   NAP   NAP   NAP   NAP                                                               9
10   JPMCB   Laguna Design Center   NAP   NAP   NAP   NAP                                                               10
11   BSP   Sheraton Salt Lake City   NAP   NAP   NAP   NAP   74.3%   106.14   78.87   77.9%   105.98   82.55   81.0%   111.86   90.62   82.2%   112.06   92.08   82.2%   112.06   92.08   11
12   SMF VI   National Business Park   55,000,000   1.36   64.8%   9.7%                                                               12
12.01   SMF VI   4 Research Way       1.36   64.8%   9.7%                                                               12.01
12.02   SMF VI   2 Research Way       1.36   64.8%   9.7%                                                               12.02
12.03   SMF VI   107 College Road East       1.36   64.8%   9.7%                                                               12.03
12.04   SMF VI   105 College Road East       1.36   64.8%   9.7%                                                               12.04
12.05   SMF VI   103 College Road East       1.36   64.8%   9.7%                                                               12.05
13   JPMCB   Embassy Suites Charleston   NAP   NAP   NAP   NAP   71.6%   145.16   103.97   71.3%   142.67   101.67   73.5%   143.95   105.75   71.1%   144.14   102.46   71.1%   144.14   102.46   13
14   BSP   Vadata - Ashburn Data Center   NAP   NAP   NAP   NAP                                                               14
15   JPMCB   Embassy Suites Busch Gardens Hotel   NAP   NAP   NAP   NAP   85.7%   111.42   95.52   89.0%   114.98   102.30   86.2%   132.67   114.36   81.6%   137.51   112.23   81.6%   137.51   112.23   15
16   JPMCB   100 East Wisconsin Avenue   63,800,000   1.30   77.5%   9.7%                                                               16
17   JPMCB   Homewood Suites Nashville Downtown   NAP   NAP   NAP   NAP   79.5%   172.39   137.08   81.4%   192.44   156.60   84.1%   213.08   179.23   84.7%   213.06   180.46   84.7%   213.06   180.46   17
18   BSP   2500 83rd Street   NAP   NAP   NAP   NAP                                                               18
19   JPMCB   Fountains at the Bayou   NAP   NAP   NAP   NAP                                                               19
20   JPMCB   Centrica   NAP   NAP   NAP   NAP                                                               20
21   SMF VI   Cicero Marketplace   NAP   NAP   NAP   NAP                                                               21
22   SMF VI   Hillside Industrial   39,000,000   1.39   60.6%   10.2%                                                               22
23   JPMCB   Embassy Suites Palmdale   NAP   NAP   NAP   NAP   73.2%   129.69   94.87   78.6%   132.70   104.24   82.9%   136.61   113.21   83.5%   142.08   118.65   83.5%   142.08   118.65   23
24   BSP   Vadata - Manassas Data Center   NAP   NAP   NAP   NAP                                                               24
25   JPMCB   The Villas of East Cobb   NAP   NAP   NAP   NAP                                                               25
26   JPMCB   Hilton Garden Inn Ridgefield Park   NAP   NAP   NAP   NAP   78.5%   136.99   107.60   81.0%   143.09   115.95   80.6%   141.77   114.33   83.2%   139.90   116.33   83.2%   139.90   116.33   26
27   JPMCB   415 West 13th Street   25,000,000   1.39   50.1%   7.8%                                                               27
28   SMF VI   Embassy Suites Lake Buena Vista   41,833,418   1.51   62.2%   11.2%               82.4%   117.16   96.54   80.7%   122.93   99.20   83.2%   124.91   103.92   83.2%   124.91   103.92   28
29   JPMCB   Shadow Creek Apartments   NAP   NAP   NAP   NAP                                                               29
30   JPMCB   Wesley Pond   NAP   NAP   NAP   NAP                                                               30
31   SMF VI   Decatur Crossing II   NAP   NAP   NAP   NAP                                                               31
32   BSP   Vadata - Haymarket Data Center   NAP   NAP   NAP   NAP                                                               32
33   JPMCB   Doubletree Fayetteville   NAP   NAP   NAP   NAP   71.3%   101.01   72.04   74.0%   105.29   77.91   72.0%   108.26   77.95   75.2%   105.78   79.53   73.4%   106.31   78.00   33
34   SMF VI   Triad and University Court Apartments   NAP   NAP   NAP   NAP                                                               34
34.01   SMF VI   Triad Apartments       NAP   NAP   NAP                                                               34.01
34.02   SMF VI   University Court Apartments       NAP   NAP   NAP                                                               34.02
35   SMF VI   West LA Office - 1950 Sawtelle Boulevard   36,500,000   1.18   67.2%   8.0%                                                               35
36   BSP   Arkansas Hotel Portfolio   11,085,130   1.54   72.9%   11.6%               61.4%   88.81   54.49   69.5%   90.97   63.19   71.0%   90.75   64.46   71.0%   90.75   64.46   36
36.01   BSP   Holiday Inn Express Bentonville       1.54   72.9%   11.6%               58.9%   91.21   53.76   71.0%   89.62   63.59   71.6%   89.11   63.83   71.6%   89.11   63.83   36.01
36.02   BSP   Fairfield Inn & Suites Springdale       1.54   72.9%   11.6%               64.1%   86.30   55.32   67.8%   92.57   62.73   70.3%   92.64   65.17   70.3%   92.64   65.17   36.02
37   JPMCB   Sunshine Heights Shopping Center & Attic Self Storage   NAP   NAP   NAP   NAP                                                               37
37.01   JPMCB   Sunshine Heights Shopping Center       NAP   NAP   NAP                                                               37.01
37.02   JPMCB   Attic Self Storage       NAP   NAP   NAP                                                               37.02
38   SMF VI   Hilton Home2 Suites Layton   NAP   NAP   NAP   NAP   55.7%   89.29   49.73   79.1%   87.39   69.13   75.0%   89.97   67.48   69.3%   98.15   67.99   69.3%   98.15   67.99   38
39   JPMCB   Hampton Inn Suites Orlando South Lake Buena Vista   NAP   NAP   NAP   NAP   79.3%   86.99   69.00   81.3%   92.97   75.63   77.6%   98.52   76.49   77.0%   102.92   79.25   77.0%   102.92   79.25   39
40   SMF VI   Holiday Inn Express - Aiken   NAP   NAP   NAP   NAP                           65.5%   100.75   65.99   71.2%   105.62   75.20   71.2%   105.62   75.20   40
41   SMF VI   Shops at Laurel Springs   NAP   NAP   NAP   NAP                                                               41
42   BSP   Fort Wayne Office Portfolio   NAP   NAP   NAP   NAP                                                               42
42.01   BSP   Pointe Inverness II       NAP   NAP   NAP                                                               42.01
42.02   BSP   Executive Center I       NAP   NAP   NAP                                                               42.02
42.03   BSP   Executive Center II       NAP   NAP   NAP                                                               42.03
43   BSP   Fern Forest Apartments   NAP   NAP   NAP   NAP                                                               43
44   BSP   Douglasville Crossroads   NAP   NAP   NAP   NAP                                                               44
45   BSP   Seven Bridges   NAP   NAP   NAP   NAP                                                               45
46   BSP   Comfort Suites Raleigh-Durham Airport   NAP   NAP   NAP   NAP   63.5%   71.42   45.36   65.4%   80.26   52.51   68.1%   81.52   55.53   69.6%   80.96   56.36   69.6%   80.96   56.36   46
47   BSP   Best Western Ellensburg   NAP   NAP   NAP   NAP   72.4%   105.03   76.07   73.7%   109.81   80.91   76.0%   111.86   85.05   78.2%   111.99   87.57   78.2%   111.99   87.57   47
48   SMF VI   State University Retail Portfolio   NAP   NAP   NAP   NAP                                                               48
48.01   SMF VI   Blaze Pizza and First Watch       NAP   NAP   NAP                                                               48.01
48.02   SMF VI   Mattress Firm       NAP   NAP   NAP                                                               48.02
49   BSP   Summerfield Shoppes   NAP   NAP   NAP   NAP                                                               49
50   BSP   Holiday Inn Express Canton   NAP   NAP   NAP   NAP   46.7%   79.76   37.23   52.1%   76.84   40.02   56.3%   81.31   45.75   57.3%   83.03   47.61   57.3%   83.03   47.61   50
51   BSP   Wilshire Manor Apartments   NAP   NAP   NAP   NAP                                                               51
52   SMF VI   Bluffton Self Storage   NAP   NAP   NAP   NAP                                                               52

 

A-1-12 

 

 

Footnotes to Annex A-1
   
(1)

“JPMCB” denotes JPMorgan Chase Bank, National Association, as Mortgage Loan Seller; “BSP” denotes Benefit Street Partners CRE Finance LLC, as Mortgage Loan Seller; and “SMF VI” denotes Starwood Mortgage Funding VI LLC, as Mortgage Loan Seller.

 

With respect to Loan No. 3, Opry Mills, the Opry Mills Whole Loan (as defined below) was co-originated by JPMCB and Citigroup Global Markets Realty Corp. (“CGMRC”).

 

With respect to Loan No. 4, Westfield San Francisco Centre, the Westfield San Francisco Centre Whole Loan (as defined below) was co-originated by JPMCB and Deutsche Bank AG, New York Branch (“DBNY”).

 

With respect to Loan No. 8, Crocker Park Phase One & Two, the Crocker Park Phase One & Two Whole Loan was co-originated by Starwood Mortgage Capital LLC and CGMRC.

 

With respect to Loan Nos. 22, 35, 40 and 52, Hillside Industrial, West LA Office - 1950 Sawtelle Boulevard, Holiday Inn Express - Aiken and Bluffton Self Storage, each mortgage loan was originated by The Bank of New York Mellon and acquired by SMF VI.

   
(2)

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, 693 Fifth Avenue, Units consists of 82,089 square feet (85.1% of the net rentable area at the mortgaged property) of office space and 14,425 square feet (14.9% of the net rentable area at the mortgaged property) of retail space.

 

With respect to Loan No. 4, Westfield San Francisco Centre, Units consists of 553,366 square feet (69.6% of the net rentable area at the mortgaged property) of retail space and 241,155 square feet (30.4% of the net rentable area at the mortgaged property) of office space.

 

With respect to Loan No. 8, Crocker Park Phase One & Two, an affiliate of the borrower is the lessee pursuant to a space lease whereby it leases approximately 38,360 square feet of space on a neighboring retail property which is owned by a sponsor affiliate.

 

With respect to Loan No. 10, Laguna Design Center, Units consists of 213,241 square feet (90.1% of the net rentable area at the mortgaged property) of retail space and 23,486 square feet (9.9% of the net rentable area at the mortgaged property) of office space.

 

With respect to Loan No. 34.01, Triad and University Court Apartments – Triad Apartments, the mortgaged property consists of 95 multifamily units and 21,050 square feet of retail space. The multifamily space is 96.8% leased as of July 21, 2016. The retail space is 100.0% leased as of August 1, 2016.

   
(3)

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. 1, 9 West 57th Street, two tenants, Zimmer Partners, LP and Seven Bridges Advisors LLC, have executed their leases but have not yet commenced paying rent.

 

With respect to Loan No. 3, Opry Mills, four tenants, including the 8th largest tenant by net rentable area, Madame Tussauds, have executed their leases but have not yet taken occupancy and/or commenced paying rent.

 

With respect to Loan No. 6, Salesforce Tower, the Largest Tenant, Salesforce.com, Inc. (“Salesforce”), has executed its lease but has not yet taken occupancy or commenced paying rent. Salesforce is expected to take occupancy and begin paying rent as follows: 123,032 square feet in January 2017, 19,318 square feet on the 25th floor in August 2017 and the remaining 104,749 square feet in August 2018.

 

A-1-13

 

 

 

With respect to Loan No. 6, Salesforce Tower, approximately 11.1% of UW Revenues ($) is attributable to the parking garage at the mortgaged property.

 

With respect to Loan No. 9, 1333 Broadway, the 3rd Largest Tenant, Teecom Design Group, Inc., has executed a lease to expand its premises but has not yet taken occupancy or commenced paying rent for such expansion space. Teecom Design Group, Inc. is expected to take occupancy and begin paying rent on the additional space in December 2016.

 

With respect to Loan No. 13, Embassy Suites Charleston, approximately 30.5% of UW Revenues ($) is attributable to the food and beverage outlet at the mortgaged property.

 

With respect to Loan No. 15, Embassy Suites Busch Gardens Hotel, approximately 22.6% of UW Revenues ($) is attributable to the food and beverage outlets at the mortgaged property.

 

With respect to Loan No. 16, 100 East Wisconsin Avenue, approximately 14.2% of UW Revenues ($) is attributable to the parking garage at the mortgaged property.

 

With respect to Loan No. 33, Doubletree Fayetteville, approximately 18.7% of UW Revenues ($) is attributable to the food and beverage outlet at the mortgaged property.

 

With respect to Loan No. 49, Summerfield Shoppes, the 2nd Largest Tenant, Shapes Fitness For Women, is entitled to a free rent period. At origination, $17,195 was reserved for the free rent period for this tenant.

   
(4)

With respect to all mortgage loans, with the exception of certain of the mortgage loans listed below, the Current LTV % and the Maturity LTV % are based on the “as-is” Appraised Value ($) even though, for certain mortgage loans, the appraiser provided “as-stabilized” values based on certain criteria being met. In the case of certain mortgage loans listed below, the appraisal provided an “as-is” value based on material additional assumptions.

 

With respect to Loan No. 6, Salesforce Tower, the Appraised Value ($) represents the “Hypothetical As-Is” value of $181,100,000, which assumes that all outstanding tenant improvements, leasing commissions, free rent (including bridge rent), and capital expenditures have been paid or are reserved/escrowed at origination. At origination, the borrower was required to reserve $20,896,672 for outstanding tenant improvements and leasing commissions and $8,081,640 for outstanding free rent. Additionally, the borrower was required to reserve $4,250,420 into the Upfront Capex Reserve ($). The “as-is” value as of July 21, 2016 was $150,600,000, which results in a Current LTV % and Maturity LTV % of 71.7% and 71.7%, respectively.

 

With respect to Loan No. 10, Laguna Design Center, the Appraised Value ($) represents the “Hypothetical As-Is – No Outstanding Free Rent, TI’s, Commissions” value of $54,360,000, which assumes no outstanding tenant improvements, leasing commissions or free rent as of the date of valuation. At origination, the borrowers were required to reserve $315,242 for outstanding tenant improvements and leasing commissions and $97,219 for outstanding free rent. The “as-is” value as of June 15, 2016 is $54,000,000, which results in a Current LTV % and Maturity LTV % of 70.6% and 64.4%, respectively.

 

With respect to Loan No. 11, Sheraton Salt Lake City, the Appraised Value ($) represents the hypothetical “as-complete” value of $50,200,000, which assumes that the property improvement plan (“PIP”) outstanding at origination is complete. At origination, the borrower was required to reserve $2,021,626 for all outstanding PIP obligations. The “as-is” value as of July 20, 2016 was $47,400,000, which results in a Current LTV % and Maturity LTV % of 73.8% and 61.3%, respectively.

 

With respect to Loan No. 13, Embassy Suites Charleston, the Appraised Value ($) represents the “As-Is” market value of $43,000,000, which assumes that an approximately $8.1 million PIP is completed in year one of the projection period. The appraisal also provides for an “as complete” hypothetical value, which assumes that the proposed PIP required under the related franchise agreement is completed. The full estimated cost to complete the PIP will be reserved for on an ongoing basis through a full excess cash flow sweep during the term of the loan, until such time the PIP is complete or the related cap on reserve

 

A-1-14

 

 

 

collections is achieved. The “as complete” value as of June 1, 2016 is $51,500,000, which results in a Current LTV % and Maturity LTV % of 57.4% and 49.9%, respectively.

 

With respect to Loan No. 15, Embassy Suites Busch Gardens Hotel, the Appraised Value ($) represents the “As-Is” market value of $38,500,000, which assumes that an approximately $8.3 million PIP is completed in year one of the projection period. The appraisal also provides for an “as complete” hypothetical value, which assumes the proposed PIP required under the related franchise agreement is completed. The full estimated cost to complete the PIP will be reserved for on an ongoing basis through a full excess cash flow sweep during the term of the loan, until such time the PIP is complete or the related cap on reserve collections is achieved. The “as complete” value as of June 1, 2016 is $49,500,000, which results in a Current LTV % and Maturity LTV % of 55.6% and 48.4%, respectively.

 

With respect to Loan No. 16, 100 East Wisconsin Avenue, the Appraised Value ($) represents the “Hypothetical As-Is” value of $82,300,000, which assumes that all outstanding tenant improvements, leasing commissions, free rent and capital expenditures have been paid or are reserved/escrowed at origination. At origination, the borrower was required to reserve $1,090,951 for outstanding free rent and $174,199 for outstanding tenant improvements and leasing commissions. Additionally, the borrower was required to reserve $1,554,500 into the Upfront TI/LC Reserve ($) and $427,803 into the Upfront Capex Reserve ($). The “as-is” value as of July 19, 2016 is $79,000,000, which results in a Current LTV % and Maturity LTV % of 68.1% and 53.8%, respectively.

   
 

With respect to Loan No. 20, Centrica, the Appraised Value ($) represents the “Hypothetical Value with Rent Credit Value” of $30,620,000, which assumes that outstanding tenant improvement, leasing commission, move-in allowance and free rent obligations are paid as of the origination date. At origination, the borrower was required to reserve $1,584,910 for outstanding tenant improvements and leasing commissions and $1,111,329 for outstanding free rent. The “as-is” value as of June 17, 2016 is $29,510,000, which results in Current LTV % and Maturity LTV % of 74.5% and 60.3%, respectively.

 

With respect to Loan No. 26, Hilton Garden Inn Ridgefield Park, the Appraised Value ($) represents the value of the subleasehold estate owned by the borrower and excludes the value attributable to the fee estate.

 

With respect to Loan No. 29, Shadow Creek Apartments, the Appraised Value ($) represents the “As Is Subject to Escrow Account” value of $19,090,000, which assumes that proposed renovations have been completed. At origination, the borrower was required to reserve $606,167 for replacement costs. The “as-is” value as of June 28, 2016 is $18,490,000, which results in Current LTV % and Maturity LTV % of 77.3% and 72.5%, respectively.

 

With respect to Loan No. 36.01, Arkansas Hotel Portfolio - Holiday Inn Express Bentonville, the Appraised Value ($) represents the “as-complete” value of $8,200,000, which assumes the PIP outstanding at origination is complete. At origination, the borrower was required to reserve $2,175,702 for all outstanding PIP obligations. The “as-is” value as of June 13, 2016 was $5,900,000, which results in a Current LTV % and Maturity LTV % of 77.4% and 59.5% for the mortgage loan, respectively.

 

With respect to Loan No. 50, Holiday Inn Express Canton, the Appraised Value ($) represents the hypothetical “as-complete” value of $6,900,000, which assumes the PIP outstanding at origination is complete. At origination, the borrower was required to reserve $1,015,544 for all outstanding PIP obligations. The “as-is” value as of April 22, 2016 was $5,700,000, which results in a Current LTV % and Maturity LTV % of 70.1% and 53.1%, respectively.

   
(5) With respect to Loan No. 28, Embassy Suites Lake Buena Vista, Upfront Other Reserve ($) includes an Earnout Holdback Reserve in the amount of $3,400,000, with $1,700,000 to be released to the borrower (upon the borrower’s request) upon the net cash flow (as calculated in the loan documents) at the mortgaged property achieving a minimum of $4,500,000 based on the trailing 12-month period and the full or remaining balance to be released to the borrower upon the net cash flow at the mortgaged property achieving a minimum of $4,700,000 based on a trailing 12-month period. Notwithstanding the foregoing, no disbursement is permitted prior to the payment date in November 2016. The net cash flow for the trailing 12-month period ending May 2016, as calculated per the loan documents including a deduction of 4.0% of gross revenues for FF&E reserves, was approximately $4.2 million. Current LTV %, Maturity LTV

 

A-1-15

 

 

  %, Total Debt Current LTV %, Total Debt UW NOI Debt Yield %, UW NOI Debt Yield % and UW NCF Debt Yield % calculations are based on the Embassy Suites Lake Buena Vista Whole Loan Current Balance ($), including a $3.4 million deduction for the Earnout Holdback Reserve, of $38,433,418. Based on the total Embassy Suites Lake Buena Vista Whole Loan Current Balance ($), excluding a deduction for the $3.4 million Earnout Holdback Reserve, of $41,833,418, Current LTV %, Maturity LTV %, Total Debt Current LTV %, Total Debt UW NOI Debt Yield %, UW NOI Debt Yield % and UW NCF Debt Yield % calculations are 67.7%, 56.7%, 67.7%, 10.3%, 10.3% and 10.3%, respectively.
   
(6) For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Current Balance ($), and Maturity 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)

With respect to Loan No. 1, 9 West 57th Street, the mortgage loan is part of a whole loan with an original principal balance of $1,200,000,000 (the “9 West 57th Street Whole Loan”) which is comprised of five pari passu components (Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5) and one subordinate companion loan (Note B-1). Note A-2 has an outstanding principal balance as of the Cut-off Date of $100,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1 and Note B-1 have an aggregate outstanding principal balance as of the Cut-off Date of $900,000,000 and are expected to be contributed to the JPMCC 2016-NINE trust. Note A-3, Note A-4 and Note A-5 have an aggregate outstanding principal balance as of the Cut-off Date of $200,000,000 and are expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the 9 West 57th Street Whole Loan balance excluding the subordinate companion loan.

 

With respect to Loan No. 2, 693 Fifth Avenue, the mortgage loan is part of a whole loan with an original principal balance of $250,000,000 (the “693 Fifth Avenue Whole Loan”) which is comprised of four pari passu components (Note A-1, Note A-2, Note A-3 and Note A-4). Note A-3 has an outstanding principal balance as of the Cut-off Date of $80,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1 has an outstanding principal balance as of the Cut-off Date of $65,000,000 and was contributed to the JPMCC 2016-JP2 trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $62,500,000 and was contributed to the DBJPM 2016-C3 trust. Note A-4 has an outstanding principal balance as of the Cut-off Date of $42,500,000 and is expected to be contributed to a future securitization trust. All loan level metrics are based on the 693 Fifth Avenue Whole Loan balance.

 

With respect to Loan No. 3, Opry Mills, the mortgage loan is part of a whole loan with an original principal balance of $375,000,000 (the “Opry Mills Whole Loan”) which is comprised of six pari passu components (Note A-1, Note A-2, Note A-3, Note A-4, Note A-5-A and Note A-5-B). Note A-3 has an outstanding principal balance as of the Cut-off Date of $80,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1 has an outstanding principal balance as of the Cut-off Date of $80,000,000 and was contributed to the JPMCC 2016-JP2 trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $65,000,000 and was contributed to the DBJPM 2016-C3 trust. Note A-4 has an outstanding principal balance as of the Cut-off Date of $70,000,000 and was contributed to the CGCMT 2016-P4 trust. Note A-5-A has an outstanding principal balance as of the Cut-off Date of $60,000,000 and was contributed to the CGCMT 2016-C2 trust. Note A-5-B has an outstanding principal balance as of the Cut-off Date of $20,000,000 and is currently held by CGMRC and is expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the Opry Mills Whole Loan balance.

 

With respect to Loan No. 4, Westfield San Francisco Centre, the mortgage loan is part of a whole loan with an original principal balance of $558,000,000 (the “Westfield San Francisco Centre Whole Loan”) which is comprised of 28 components: 24 pari passu senior notes (the “Senior Notes”) with an aggregate original principal balance of $433,077,000 and four subordinate notes with an aggregate original principal balance of $124,923,000 (the “Junior Notes”). Note A-2-EMP-C2, Note A-2-EMP-C3, Note A-2-SFC-C2 and Note A-2-SFC-C3 have an outstanding aggregate principal balance as of the Cut-off Date of $60,000,000 and are being contributed to the JPMCC 2016-JP3 Trust. Note A-1-EMP-C1, Note A-1-SFC-C1, Note A-2-EMP-C1 and Note A-2-SFC-C1 have an outstanding aggregate principal balance as of the Cut-off Date of $84,000,000 and were contributed to the DBJPM 2016-C3 trust. Eight of the Senior Notes with an aggregate original principal balance of $182,019,000 and all of the Junior Notes, with an aggregate principal balance as of the Cut-off Date of $306,942,000, were contributed to the DBJPM 2016-SFC trust. The remaining Senior Notes, with an aggregate outstanding principal balance as of the

 

A-1-16

 

 

 

Cut-off Date of $47,058,000, are currently held by JPMCB or DBNY (or an affiliate of either entity) and are expected to be contributed to one or more future securitizations.

 

With respect to Loan No. 5, 1 Kaiser Plaza, the mortgage loan is part of a whole loan with an original principal balance of $97,100,000 (the “1 Kaiser Plaza Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $60,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $37,100,000 and is expected to be contributed to a future securitization trust. All loan level metrics are based on the 1 Kaiser Plaza Whole Loan balance.

   
 

With respect to Loan No. 6, Salesforce Tower, the mortgage loan is part of a whole loan with an original principal balance of $108,000,000 (the “Salesforce Tower Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $60,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $48,000,000 and is expected to be contributed to a future securitization trust. All loan level metrics are based on the Salesforce Tower Whole Loan balance.

 

With respect to Loan No. 8, Crocker Park Phase One & Two, the mortgage loan is part of a whole loan with an original principal balance of $140,000,000 (the “Crocker Park Phase One & Two Whole Loan”) which is comprised of four pari passu components (Note A-1, Note A-2, Note A-3 and Note A-4). Note A-3 has an outstanding principal balance as of the Cut-off Date of $40,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1 has an outstanding principal balance as of the Cut-off Date of $60,000,000 and was contributed to the CGCMT 2016-C2 trust. Note A-2 and Note A-4 have an aggregate outstanding principal balance as of the Cut-off Date of $40,000,000 and are expected to be contributed to one or more future trusts. All loan level metrics are based on the Crocker Park Phase One & Two Whole Loan balance.

 

With respect to Loan No. 12, National Business Park, the mortgage loan is part of a whole loan with an original principal balance of $55,000,000 (the “National Business Park Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $33,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $22,000,000 and is expected to be contributed to one or more future trusts. All loan level metrics are based on the National Business Park Whole Loan balance.

 

With respect to Loan No. 16, 100 East Wisconsin Avenue, the mortgage loan is part of a whole loan with an original principal balance of $53,800,000 (the “100 East Wisconsin Avenue Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $25,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $28,800,000 and is expected to be contributed to a future securitization trust. All loan level metrics are based on the 100 East Wisconsin Avenue Whole Loan balance.

 

With respect to Loan No. 22, Hillside Industrial, the mortgage loan is part of a whole loan with an original principal balance of $39,000,000 (the “Hillside Industrial Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $20,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $19,000,000 and is expected to be contributed to one or more future trusts. All loan level metrics are based on the Hillside Industrial Whole Loan balance.

 

With respect to Loan No. 28, Embassy Suites Lake Buena Vista, the mortgage loan is part of a whole loan with an original principal balance of $42,000,000 (the “Embassy Suites Lake Buena Vista Whole Loan”) which is comprised of three pari passu components (Note A-1-A, Note A-1-B and Note A-2). Note A-1-A has an outstanding principal balance as of the Cut-off Date of $16,932,574 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1-B has an outstanding principal balance as of the Cut-off Date of $13,944,473 and was contributed to the CGCMT 2016-P4 trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $10,956,371 and was contributed to the CGCMT 2016-C1 trust. All loan level metrics are based on the Embassy Suites Lake Buena Vista Whole Loan balance.

 

A-1-17

 

 

  With respect to Loan No. 35, West LA Office - 1950 Sawtelle Boulevard, the mortgage loan is part of a whole loan with an original principal balance of $36,500,000 (the “West LA Office - 1950 Sawtelle Boulevard Whole Loan”) which is comprised of three pari passu components (Note A-1, Note A-2 and Note A-3). Note A-2 has an outstanding principal balance as of the Cut-off Date of $10,000,000 and is being contributed to the JPMCC 2016-JP3 Trust. Note A-1 and Note A-3 have an aggregate outstanding principal balance as of the Cut-off Date of $26,500,000 and are expected to be contributed to one or more future trusts. All loan level metrics are based on the West LA Office - 1950 Sawtelle Boulevard Whole Loan balance.
   
(8) Each number identifies a group of related borrowers.
   
(9) 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 Rate and the CREFC® Intellectual Property Royalty License Fee Rate (collectively, the “Admin Fee %”).
   
(10)

For the mortgage loans that are interest-only for the entire term and accrue interest on an Actual/360 basis, the Monthly Debt Service ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360.

 

With respect to Loan Nos. 17, 20, 23, 26 and 39, Homewood Suites Nashville Downtown, Centrica, Embassy Suites Palmdale, Hilton Garden Inn Ridgefield Park and Hampton Inn Suites Orlando South Lake Buena Vista, in each case, if the loan documents explicitly require payment “on demand,” failure to pay any portion of the loan is not an event of default unless the borrower fails to make any such payment within five days after demand by the lender.

   
(11)

With respect to all mortgage loans, except for the mortgage loan(s) listed below, Annual Debt Service ($) is calculated by multiplying the Monthly Debt Service ($) by 12.

 

With respect to Loan No. 36, Arkansas Hotel Portfolio, the Annual Debt Service ($) is calculated based on the sum of the first 12 principal and interest payments based on the assumed principal payment schedule set forth on Annex F to the Preliminary Prospectus. As such, the Current Balance ($), Maturity Balance ($), Monthly Debt Service ($), UW NOI DSCR and UW NCF DSCR all reflect this principal payment schedule and a fixed interest rate of 4.87000%.

   
(12)

The “L” component of the prepayment provision represents lockout payments.

The “Def” component of the prepayment provision represents defeasance payments.

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.

 

With respect to Loan No. 1, 9 West 57th Street, the lockout period will be at least 24 payments beginning with and including the first payment on October 1, 2016. Defeasance of the full $1.2 billion 9 West 57th Street 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) August 30, 2019. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 3, Opry Mills, the lockout period will be at least 26 payments beginning with and including the first payment on August 1, 2016. Defeasance of the full $375.0 million Opry Mills 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 pari passu note to be securitized (the “Opry Mills Defeasance Date”) and (ii) August 1, 2019. If the Opry Mills Defeasance Date has not occurred by August 1, 2019, the borrower is permitted to prepay the Opry Mills Whole Loan with the payment of a yield maintenance premium, except that any portion of the Opry Mills Whole Loan that has been securitized for more than two years from the closing date of such securitization must be defeased. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

A-1-18

 

 

 

With respect to Loan No. 4, Westfield San Francisco Centre, the lockout period will be at least 25 payment dates beginning with and including the first payment date of September 1, 2016. Defeasance of the full $558.0 million Westfield San Francisco Centre Whole Loan is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized and (ii) August 1, 2019. The assumed lockout period of 25 payments is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 5, 1 Kaiser Plaza, the lockout period will be at least 26 payments beginning with and including the first payment on August 1, 2016. Defeasance of the full $97.1 million 1 Kaiser Plaza Whole Loan is permitted after the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized (the “1 Kaiser Plaza Defeasance Date”). If the 1 Kaiser Plaza Defeasance Date has not occurred by August 1, 2019, the borrower is permitted to prepay the 1 Kaiser Plaza Whole Loan with the payment of a yield maintenance premium. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

   
 

With respect to Loan No. 6, Salesforce Tower, the lockout period will be at least 24 payments beginning with and including the first payment on October 1, 2016. Defeasance of the full $108.0 million Salesforce Tower Whole Loan is permitted after the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized (the “Salesforce Tower Defeasance Date”). If the Salesforce Tower Defeasance Date has not occurred by October 1, 2020, the borrower is permitted to prepay the Salesforce Tower Whole Loan with the payment of a yield maintenance premium. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 8, Crocker Park Phase One & Two, the lockout period will be at least 25 payments beginning with and including the first payment on September 6, 2016. Defeasance of the full $140.0 million Crocker Park Phase One & Two 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 pari passu note to be securitized (the “Crocker Park Phase One & Two Defeasance Date”) and (ii) July 25, 2019. Additionally, the borrower is permitted to prepay the Crocker Park Phase One & Two Whole Loan in whole, but not in part, with the payment of a yield maintenance premium after earlier to occur of (i) July 25, 2019 and (ii) the Crocker Park Phase One & Two Defeasance Date. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 12, National Business Park, the lockout period will be at least 24 payments beginning with and including the first payment on October 6, 2016. Defeasance of the full $55.0 million National Business Park 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 pari passu note to be securitized and (ii) August 19, 2019. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 16, 100 East Wisconsin Avenue, defeasance of the full $53.8 million 100 East Wisconsin Avenue Whole Loan is permitted after the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized (the “100 East Wisconsin Avenue Defeasance Date”). If the 100 East Wisconsin Avenue Defeasance Date has not occurred by October 1, 2020, the borrower is permitted to prepay the 100 East Wisconsin Avenue Whole Loan with the payment of a yield maintenance premium. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

With respect to Loan No. 22, Hillside Industrial, the lockout period will be at least 27 payments beginning with and including the first payment on July 6, 2016. Defeasance of the full $39.0 million Hillside Industrial 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 pari passu note to be securitized and (ii) May 16, 2019. The assumed lockout period is based on the expected JPMCC 2016-JP3 securitization closing date in September 2016. The actual lockout period may be longer.

 

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  With respect to Loan No. 36, Arkansas Hotel Portfolio, under the related loan agreement, either one of the two mortgaged properties may be released from the collateral in connection with a third-party, arms-length sale of such mortgaged property to be released subject to, among other things, the following conditions: (i) no event of default has occurred or would occur as a result of the release, (ii) the PIPs required at both mortgaged properties have been completed, (iii) the remaining collateral has a loan-to-value ratio no greater than 65%, (iv) the remaining collateral has a debt service coverage ratio no less than 1.70x, (v) the remaining collateral has a debt yield no less than 15.0%, (vi) payment of a release price equal to 120% of the loan amount allocated to the releases mortgaged property and any prepayment penalty associated with the payment of the release price, (vii) satisfaction of customary REMIC requirements, and (viii) payment of all other costs and expenses of the lender in connection with the release.
   
  With respect to Loan No. 48, State University Retail Portfolio, provided no event of default or sweep event (as defined in the loan documents) exists under the State University Retail Portfolio mortgaged loan, at any time after the date that is two years from the closing date of the securitization, the State University Retail Portfolio borrowers may obtain a release of any of the individual properties comprising the State University Retail Portfolio mortgaged loan, provided, among other conditions, (a) the State University Retail Portfolio borrowers defease the State University Retail Portfolio mortgaged loan with U.S. government securities in an amount equal to the greater of (i) 125% of the allocated loan amount with respect to the related mortgaged property, (ii) an amount that results, with respect to the individual property or properties remaining after the release, in the loan-to-value ratio being not greater than 56.0%, (iii) an amount that results, with respect to the individual mortgaged property or mortgaged properties remaining after the release, in the debt service coverage ratio being not less than 2.00x and (iv) an amount that results, with respect to the individual mortgaged property or mortgaged properties remaining after the release, in the debt yield being not less than 9.75%, and (b) the State University Retail Portfolio borrowers deliver a rating agency confirmation and a REMIC opinion with respect to such individual mortgaged property release.
   
(13)

With respect to some mortgage loans, historical financial information may not be available due to the when the properties were constructed and/or acquired.

 

With respect to Loan No. 14, Vadata - Ashburn Data Center, the mortgage loan is secured by data centers located in three buildings, identified as DC-8, DC-9 and DC-10, each with a separate lease. Limited historical financial information is available as the buildings were built between 2013 and 2015. 2015 Revenues ($), 2015 Total Expenses ($) and 2015 NOI ($) are based on the trailing 10-month period ending December 2015, annualized, for the DC-10 building and the full year for the DC-8 and DC-9 buildings.

 

With respect to Loan No. 18, 2500 83rd Street, limited historical financial information is available as the sponsor acquired the property in 2014. 2014 Revenues ($), 2014 Total Expenses ($) and 2014 NOI ($) are based on the trailing 10-month period ending December 2014, annualized.

 

With respect to Loan No. 20, Centrica, limited historical financial information is available as the mortgaged property is newly re-developed.

 

With respect to Loan No. 24, Vadata - Manassas Data Center, the mortgage loan is secured by data centers located in two buildings, identified as DC-12 and DC-14, each with a separate lease. Limited historical financial information is available as the two buildings were built in 2015. Most Recent Revenues ($), Most Recent Total Expenses ($) and Most Recent NOI ($) are based on the trailing seven-month period ending March 2016, annualized, for the DC-12 building and the trailing eight-month period ending March 2016, annualized, for the DC-14 building.

 

With respect to Loan No. 28, Embassy Suites Lake Buena Vista, limited historical financial information is available as the mortgaged property was acquired in December 2013 and full-year 2013 financials were not available. Additionally, the mortgaged property was shut down during the third and fourth quarters of 2014 due to a comprehensive renovation.

 

A-1-20

 

 

 

With respect to Loan No. 32, Vadata - Haymarket Data Center, limited historical financial information is available as the related property was acquired in 2013 in vacant condition and renovated to its current use in 2014.

 

With respect to Loan No. 35, West LA Office - 1950 Sawtelle Boulevard, limited historical financial information is available as the mortgaged property was acquired by the sponsor in December 2015. As such, 2015 Revenues ($), 2015 Total Expenses ($) and 2015 NOI ($) are based on the trailing 10-month period ending October 2015, annualized. Additionally, Most Recent Revenues ($), Most Recent Total Expenses ($) and Most Recent NOI ($) are based on the trailing six-month period ending June 2016, annualized.

 

With respect to Loan No. 40, Holiday Inn Express - Aiken, limited historical financial information is available as the mortgaged property was recently built. As such, historical financials before 2015 were not available.

 

With respect to Loan No. 41, Shops at Laurel Springs, limited historical financial information is available as the mortgaged property was acquired in May 2016 and full-year 2013 and 2014 financials were not available.

 

With respect to Loan No. 48, State University Retail Portfolio, limited historical financial information is available as the mortgaged properties were recently built or renovated. As such, historical financials were not available.

   
 

With respect to Loan No. 51, Wilshire Manor Apartments, limited historical financial information is available due to the limited information provided to the sponsor for their acquisition. 2015 Revenues ($), 2015 Total Expenses ($) and 2015 NOI ($) are based on the trailing 12-month period ending December 2015, excluding November 2015, annualized. Most Recent Revenues ($), Most Recent Total Expenses ($) and Most Recent NOI ($) are based the trailing 12-month period ending April 2016, excluding November 2015, annualized. Due to acquisition timing, November 2015 financials were not available.

 

With respect to Loan No. 52, Bluffton Self Storage, limited historical financial information is available as the mortgaged property was acquired by the sponsor in October 2015. As such, 2015 Revenues ($), 2015 Total Expenses ($) and 2015 NOI ($) are based the trailing 12-month period ending October 2015.

   
(14) With respect to all hotel properties, the UW NOI ($) is shown after taking a deduction for an FF&E reserve, and as such, the UW NOI ($) and UW NCF ($) for these properties are the same.
   
(15) The UW NOI DSCR and UW NCF DSCR 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.
   
(16)

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.

 

With respect to Loan No. 3, Opry Mills, the Upfront Other Reserve ($) represents a reserve for outstanding tenant improvements and leasing commissions in the amount of $3,943,000 related to four tenants at the mortgaged property. The borrower was permitted to deliver and delivered at origination a guaranty from the guarantor in lieu of a cash reserve.

 

With respect to Loan No. 4, Westfield San Francisco Centre, at origination, the borrowers were permitted to deliver two letters of credit in the aggregate amount of $4,300,000 from UBS AG bank to cover gap rent and the tenant improvement obligations in connection with the recently executed Zara expansion lease in lieu of a cash deposit.

 

With respect to Loan Nos. 5 and 9, 1 Kaiser Plaza and 1333 Broadway, so long as the guarantor maintains a net worth of at least $450,000,000 (the “Lease Rollover Minimum Net Worth”), the guarantor may deliver a guaranty in lieu of the borrower’s requirement to make deposits into the Upfront TI/LC Reserve ($) at origination and on a monthly basis upon the following terms: (i) if the guarantor’s net worth is at least $600,000,000 (the “Lease Rollover Target Net Worth”), any amounts on reserve will be released to the borrower and the borrower’s requirement to make monthly deposits will be waived and (ii)

 

A-1-21

 

 

 

if the guarantor’s net worth is no less than the Lease Rollover Minimum Net Worth, but less than the Lease Rollover Target Net Worth, 50% of the amount on reserve will be released to the borrower and the borrower will be required to deposit 50% of the amount required to be deposited monthly. In each case, such guaranty was delivered at origination.

 

With respect to Loan No. 9, 1333 Broadway, the borrower deposited $5,000,000 at origination into the Upfront Other Reserve ($) for a URS Corporation tenant estoppel reserve. The executed tenant estoppel from URS Corporation has been received in accordance with the loan documents and the lender has released the reserve.

 

With respect to Loan No. 20, Centrica, the Upfront Other Reserve ($) includes a reserve in the amount of $1,500,000, which is required to be held by the lender as additional collateral for the mortgage loan. The loan documents require the lender to release the additional collateral reserve funds to the SL Mesa Realty Owners LLC (“SL”) or as SL directs in writing any time after the date on which the financial statements for the third quarter of 2016 for Santander Consumer USA Holdings, Inc. (“Santander Holdings”) are released, provided that (a) the shareholder equity of Santander Holdings is at least $4,131,000,000, (b) the market capitalization of Santander Holdings, calculated based upon the closing price of its stock on the NYSE as of the date that is five business days after the release of the financial statements is at least $3,392,000,000 and (c) the credit rating of Santander Holdings USA, Inc. as of the date that is five business days after the release of the financial statements is not less than “BBB” by S&P and “Baa2” by Moody’s. If the release conditions are not satisfied after the release of the third quarter 2016 financial statements, the loan documents provide that the borrower or SL may request the release of the reserve upon the release of any subsequent financial statements for Santander Holdings, provided that the foregoing tests are satisfied. In the event that the release conditions are not satisfied, the loan documents require that the reserve be held as additional collateral by the lender.

   
  With respect to Loan No. 34, Triad and University Court Apartments, the borrower was required at origination to fund a $300,000 performance reserve. So long as no sweep event period (as defined in the loan documents) is occurring, at any time on or after the payment date in August 2017 and up to and including the payment date in July 2022, the performance reserve will be released upon (i) the mortgage loan achieving a debt yield on NOI of at least 9.5% for the trailing 12-months and (ii) the mortgage loan achieving a debt service coverage ratio of 1.50x for the trailing 12-months.
   
(17)

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 trigger in the respective mortgage loan documents.

 

With respect to Loan No. 1, 9 West 57th Street, in the event the debt service coverage ratio (as calculated in the loan documents) is less than 2.50x, the borrowers are required to deposit approximately $420,054 ($3.00 per square foot) into the Monthly TI/LC Reserve ($), provided that the borrowers are not be required to make any such deposit (i) if the balance of the reserve is equal to or greater than $25,000,000 and (ii) if (A) the debt service coverage ratio is at least 2.50x, (B) the funds in the reserve are at least $15,000,000 and (C) the mortgaged property is occupied by tenants under leases demising at least 65.0% of the rentable square footage,

 

With respect to Loan No. 3, Opry Mills, upon (i) an event of default under the mortgage loan documents or (ii) the occurrence of the debt service coverage ratio based on the trailing four-calendar quarter period immediately preceding the date of such determination being less than 1.75x for two consecutive calendar quarters (an “Opry Mills DSCR Reserve Trigger Event”), the borrower is required to deposit into the (x) Monthly Capex Reserve ($) $19,494 (capped at $701,780) and (y) Monthly TI/LC Reserve ($) $160,825 (capped at $5,789,683). In addition, the Monthly RE Tax Reserve ($) is waived provided that (a) no event of default has occurred, (b) no Opry Mills DSCR Reserve Trigger Event exists and (c) the borrower pays all taxes prior to the date of delinquency and assessment of any late payment penalty and provides satisfactory evidence of the same.

 

A-1-22

 

 

 

With respect to Loan No. 4, Westfield San Francisco Centre, in lieu of making any monthly payments to any reserve account, the borrowers may deliver (i) a letter of credit or (ii) one or more guaranties from Westfield America, Inc., one of the loan sponsors, or an affiliate of Westfield America, Inc. that has total assets (in name or under management) in excess of $800 million and (except with respect to a pension advisory firm or similar fiduciary) capital/statutory surplus, shareholder’s equity or net worth of at least $400 million.

 

With respect to Loan No. 5, 1 Kaiser Plaza, the borrower may deliver a letter of credit in the amount of the reserve cap in lieu of deposits required to be made into the Monthly TI/LC Reserve ($). In the event that monthly deposits are required, pursuant to the terms outlined above, the borrower is required to deposit an amount that is equal to the quotient of the TI/LC Reserve Cap ($) divided by the number of payment dates remaining through and including the payment date in February 2023. Additionally, the loan documents require the borrower, should the Largest Tenant at the property, Kaiser Foundation Health Plan, Inc. (“KFHP”), give notice of its intent to exercise its right to contract any portion of its premises under the KFHP lease, to promptly notify the lender and increase the succeeding 12 deposits into the Monthly TI/LC Reserve ($) by $4.09 per square foot of space being contracted, a total increase of $49.08 per square foot for the succeeding 12 month period.

   
 

With respect to Loan No. 8, Crocker Park Phase One & Two, on a monthly basis up to and including the payment date in July 2017, the borrower is required to escrow approximately $33,333 for unfunded obligations related to tenant Fitness & Sports Clubs.

 

With respect to Loan No. 9, 1333 Broadway, the borrower may deliver a letter of credit in the amount of the reserve cap in lieu of deposits required to be made into the Monthly TI/LC Reserve ($). In the event that monthly deposits are required, pursuant to the terms outlined above, the borrower is required to deposit an amount that is equal to the quotient of the TI/LC Reserve Cap ($) divided by the number of payment dates remaining through and including the payment date in February 2022.

 

With respect to Loan No. 12, National Business Park, the mortgage loan is structured such that all excess cash flow is required to be deposited into a tenant improvement and leasing commissions reserve for the SES Americom leased space (capped at $2,521,504) if SES Americom, any approved assignee of the SES Americom leased space or any replacement tenant occupying the entire SES Americom leased space: (i) fails to extend the term of its lease for at least three years on satisfactory terms to the lender on or before December 31, 2022, (ii) is in default under its lease beyond applicable notice and cure periods, (iii) gives notice to vacate or vacates the leased space or (iv) becomes a debtor in any bankruptcy or insolvency proceeding, and the debt service coverage ratio at the (as calculated in the loan documents is less than 1.30x. Additionally, the loan is structured such that all excess cash flow is required to be deposited into a tenant improvement and leasing commissions reserve for the Dr Reddy’s Inc. leased space (capped at $1,976,538) if Dr Reddy’s Inc., any approved assignee of the Dr Reddy’s, Inc. leased space or any replacement tenant occupying the entire Dr Reddy’s Inc. leased space: (i) fails to extend the term of its lease for at least three years on satisfactory terms to the lender on or before December 11, 2023, (ii) is in default under its lease beyond applicable notice and cure periods, (iii) gives notice to vacate or vacates the leased space or (iv) becomes a debtor in any bankruptcy or insolvency proceeding, and the debt service coverage ratio at the (as calculated in the loan documents is less than 1.30x.

 

With respect to Loan No. 13, Embassy Suites Charleston, the borrower is required to deposit into the Monthly Capex Reserve ($), on a monthly basis, an amount equal to the greater of (a) the aggregate amount of all deposits for replacements required to be deposited pursuant to any franchise or management agreement and (b) 4.0% of gross income from operations for the two calendar months prior to the date on which the borrower is required make such deposit. To the extent no event of default exists, the loan documents provide that the borrower will receive a credit against each monthly deposit on a dollar for dollar basis to the extent the borrower makes deposits into a similar reserve maintained with the franchisor if the franchise agreement requires such a reserve. If the borrower is not receiving such credit and there is no event of default, the loan documents require the lender to make monthly disbursements of an amount equal to 3.0% of gross income from operations for the two calendar months prior to such date into the Monthly Other Reserve ($) for the PIP outstanding at origination. In addition, the mortgage loan is structured with a cash flow sweep at origination, which expires upon the earlier to occur of (a) completion of the PIP, (b) the date on which the Annual Required PIP Amount has been deposited or (c) on the date on which $8,065,543 (the “PIP Amount”) has been deposited into the Monthly Other Reserve ($) (the “PIP

 

A-1-23

 

 

  Cash Sweep Period”). During the PIP Cash Sweep Period, the borrower is required to deposit (i) so long as no event of default or any bankruptcy action of the borrower has occurred and is continuing, on each monthly payment date, amounts from the excess cash flow reserve until the aggregate amount deposited in the PIP reserve equals either (a) $2,700,000 for the year (the “Annual Required PIP Amount”) or (b) the aggregate the PIP Amount, and (ii) upon (a) the occurrence of an event of default and an acceleration of the loan or (b) a transfer of the property and assumption of the loan (a “Transfer Trigger”) as permitted by the loan documents (each of (a) and (b) is a “Reserve Trigger Event”), if the aggregate amount deposited pursuant to clause (i) prior to the date of the applicable Reserve Trigger Event, together with any disbursements from the replacement reserve into the PIP reserve (which may not exceed 3.0% of the annual gross income from the operation of the property), does not equal to or exceed the PIP Amount, the difference between (x) the PIP Amount and (y) the aggregate amount deposited into the reserve from origination through the date of a Reserve Trigger Event and, with respect to the Reserve Trigger Event under clause (ii)(a), after giving credit for certain excess cash flow amounts from and after the Reserve Trigger Event. At the end of each 12-month PIP deposit period, if the amount deposited pursuant ot the monthly deposits does not equal the Annual Required PIP Amount, the borrower is required to deposit such shortfall amount. The guarantor has delivered a guaranty for (A) such shortfall amount and (B) the amounts set forth in (ii)(a) and (b) above and is required to maintain minimum liquidity in the amount equal to the Annual Required PIP Amount during the PIP Cash Sweep Period.
   
 

With respect to Loan No. 14, Vadata - Ashburn Data Center, the borrower is required to make monthly deposits of $3,589 into the Monthly Capex Reserve ($) commencing on the payment date in August 2018 subject to a cap of $129,199.

 

With respect to Loan No. 15, Embassy Suites Busch Gardens Hotel, the borrower is required to deposit into the Monthly Capex Reserve ($), on a monthly basis, an amount equal to the greater of (a) the aggregate amount of all deposits for replacements required to be deposited pursuant to any franchise or management agreement and (b) 4.0% of gross income from operations for the two calendar months prior to the date on which the borrower is required make such deposit. To the extent no event of default exists, the loan documents provide that the borrower will receive a credit against each monthly deposit on a dollar for dollar basis to the extent the borrower makes deposits into a similar reserve maintained with the franchisor if the franchise agreement requires such a reserve. If the borrower is not receiving such credit and there is no event of default, the loan documents require the lender to make monthly disbursements of an amount equal to 3.0% of gross income from operations for the two calendar months prior to such date into the Monthly Other Reserve ($) for the PIP outstanding at origination. In addition, the mortgage loan is structured with a cash flow sweep at origination, which expires upon the earlier to occur of (a) completion of the PIP, (b) the date on which the Annual Required PIP Amount has been deposited or (c) on the date on which $8,335,312 (the “PIP Amount”) has been deposited into the Monthly Other Reserve ($) (the “PIP Cash Sweep Period”). During the PIP Cash Sweep Period, the borrower is required to deposit (i) so long as no event of default or any bankruptcy action of the borrower has occurred and is continuing, on each monthly payment date, amounts from the excess cash flow reserve until the aggregate amount deposited in the PIP reserve equals either (a) $2,000,000 for the year (the “Annual Required PIP Amount”) or (b) the aggregate the PIP Amount, and (ii) upon (a) the occurrence of an event of default and an acceleration of the loan or (b) a transfer of the property and assumption of the loan (a “Transfer Trigger”) as permitted by the loan documents (each of (a) and (b) is a “Reserve Trigger Event”), if the aggregate amount deposited pursuant to clause (i) prior to the date of the applicable Reserve Trigger Event, together with any disbursements from the replacement reserve into the PIP reserve (which may not exceed 3.0% of the annual gross income from the operation of the property), does not equal to or exceed the PIP Amount, the difference between (x) the PIP Amount and (y) the aggregate amount deposited into the reserve from origination through the date of a Reserve Trigger Event and, with respect to the Reserve Trigger Event under clause (ii)(a), after giving credit for certain excess cash flow amounts from and after the Reserve Trigger Event. At the end of each 12-month PIP deposit period, if the amount deposited pursuant to the monthly deposits does not equal the Annual Required PIP Amount, the borrower is required to deposit such shortfall amount.. The guarantor has delivered a guaranty for (A) such shortfall amount and (B) the amounts set forth in (ii)(a) and (b) above and is required to maintain minimum liquidity in the amount equal to the Annual Required PIP Amount during the PIP Cash Sweep Period.

 

With respect to Loan Nos. 17, 23, 26 and 39, Homewood Suites Nashville Downtown, Embassy Suites Palmdale, Hilton Garden Inn Ridgefield Park and Hampton Inn Suites Orlando South Lake Buena Vista, in each case, the borrower is required to deposit into the Monthly Capex Reserve ($) an amount equal to

 

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4.0% of the gross income from the operation of the mortgaged property two months prior to such payment date, provided that in no event such monthly deposit may be less than (i) with respect to Homewood Suites Nashville Downtown $18,835, (ii) with respect to Embassy Suites Palmdale $25,000, (iii) with respect to Hilton Garden Inn Ridgefield Park, $23,335 and (iv) with respect to Hampton Inn Suites Orlando South Lake Buena Vista, $20,835.

 

With respect to Loan No. 20, Centrica, the borrower is required to deposit $1,463 into the Monthly Capex Reserve ($) commencing on September 1, 2021.

 

With respect to Loan No. 22, Hillside Industrial, on a monthly basis up to and including the payment date in June 2018, the borrower is required to escrow approximately $50,000 for outstanding tenant improvements related to tenant All Jays Enterprises.

 

With respect to Loan No. 24, Vadata - Manassas Data Center, the borrower is required to make monthly deposits of $2,476 into the Monthly Capex Reserve ($) commencing on the payment date in August 2018, subject to a cap of $89,148.

   
 

With respect to Loan No. 26, Hilton Garden Inn Ridgefield Park, in the event the mortgagee under the leasehold mortgage incurred by the lessee under the prime ground lease purchases the fee interest in the mortgaged property, the borrower is required to deposit all proceeds from such sale into the Monthly Other Reserve ($), which funds are required to be held as additional collateral for the mortgage loan. In addition, the borrower is required to deposit (i) the ground rent payment and (ii) an amount sufficient to pay for three months of base rent and additional rent required by the ground sublease into the Monthly Other Reserve ($). Please see “Description of the Mortgage Pool—Fee & Leasehold Estates—Ground Leases” and “—Tenant Issues—Purchase Rights and Rights of First Refusal” in the Preliminary Prospectus for additional information regarding the purchase option.

 

With respect to Loan No. 27, 415 West 13th Street, in the event that debt yield (as calculated in the loan documents) is less than 9.0% on the first day of any calendar quarter, the borrower is required to deposit $1,977 into both the Monthly Capex Reserve ($) and the Monthly TI/LC Reserve ($). The loan documents permit the borrower to deliver a letter of credit for all or any portion of the deposits into the Monthly TI/LC Reserve ($). The aggregate amount of any such letter of credit and/or cash on deposit is required to at all times be at least equal to the aggregate amount which the borrower is required to have on deposit at such time in the applicable reserve account.

 

With respect to Loan No. 32, Vadata - Haymarket Data Center, the borrower is required to make monthly deposits of $1,967 into the Monthly Capex Reserve ($) commencing on the payment date in August 2018, subject to a cap of $70,800.

 

With respect to Loan No. 33, Doubletree Fayetteville, the borrower is required to deposit into the Monthly Capex Reserve ($) an amount equal to the sum of (i) 5.0% of gross income from operations for the calendar month two months prior to such payment date (or such higher amount recommended or required by the franchise agreement or a replacement franchise agreement), plus (ii) 1.0% of gross income from operations for the calendar month two months prior to such payment date during any Quality Assurance Trigger Period (as defined below), plus (iii) 1.0% of gross income from operations for the calendar month two months prior to such payment date during any period when the borrower fails to spend (in the aggregate for the preceding 36 month period) at least $1,500 per room on FF&E, as determined by the lender as of June 1, 2021 and each anniversary of such date, plus (iv) any deposits required for any PIP. A “Quality Assurance Trigger Period” means any (i) failure to achieve a score of 75.0 or greater from the franchisor for each quality assurance evaluation, or (ii) failure to pass (based on any revised scale being used by the franchisor at such time, including, without limitation any red/yellow/green or other color-coded scale, any numerical scale or any pass/fail scale) any other brand standard audits and/or quality assurance and hotel audits with respect to the categories classified as cleanliness or condition within (x) any 12-month period or (y) two consecutive audits if only one such audit is conducted in any 12-month period.

 

With respect to Loan No. 36, Arkansas Hotel Portfolio, with respect to the Monthly Capex Reserve ($), (i) on each monthly payment date until and including August 6, 2017, the monthly deposit will be 1/12 of 3% of gross rents for both mortgaged properties; (ii) on September 6, 2017 and on each monthly payment

 

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  date thereafter: (a) so long as the lender has not received evidence of completion of the property improvement plans for both mortgaged properties, the monthly deposit will be 1/12 of 7.2% of gross rents for both mortgaged properties; provided, however, the portion of the increased Monthly Capex Reserve ($) deposit in excess of 1/12 of 4% of gross rents for both properties, will only be deposited so long as sufficient excess cash after the payment of debt service, required reserves and operating expenses is available therefor; or (b) so long as the lender has received evidence of completion of the property improvement plans for both mortgaged properties, the monthly deposit will be 1/12 of 4% of gross rents for both mortgaged properties. Furthermore, (i) on the monthly payment dates occurring in September, October and November of 2016, monthly seasonality reserve payments in the amount of $20,000, $20,000 and $10,000, respectively, will be collected and (ii) on each monthly payment date occurring in June, July, August, September and October of 2017 and every year after during the term of the loan, monthly seasonality reserve payments in the amount of $10,000 will be collected, subject to a cap of $50,000.
   
 

With respect to Loan No. 45, Seven Bridges, the loan is structured with an Upfront TI/LC Reserve ($) of $225,000 and ongoing Monthly TI/LC Reserve ($) of approximately $4,093 ($1.00 per square foot annually), subject to a TI/LC Reserve Cap ($) of $225,000. After the TI/LC Reserve Cap ($) has been reached, no further payments will be required until the balance falls below $125,000.

 

With respect to Loan No. 46, Comfort Suites Raleigh-Durham Airport, the Monthly Capex Reserve ($) is 1/12 of 2% of gross revenue for the first 12 months of the loan, increasing to 1/12 of 4% of gross revenue thereafter. Additionally, monthly seasonality reserve payments in the amount of $10,000 will be collected in the months of September, October and November of each year of the loan term, subject to a cap of $30,000.

 

With respect to Loan No. 47, Best Western Ellensburg, a sum of $36,300 was deposited in the seasonality reserve at origination. In addition, monthly seasonality reserve payments in the amount of $12,100 will be collected in the months of May, June, July, August, September and October of each year during the loan term subject to a cap of $72,600.

 

With respect to Loan No. 49, Summerfield Shoppes, the loan is structured with an Upfront TI/LC Reserve ($) of $50,000 and ongoing Monthly TI/LC Reserve ($) of $3,333 ($1.00 per square foot annually), subject to a TI/LC Reserve Cap ($) of $250,000. After the TI/LC Reserve Cap ($) has been reached, no further payments will be required until the balance falls below $150,000.

 

With respect to Loan No. 50, Holiday Inn Express Canton, Monthly Capex Reserve ($) is 1/12 of 2% of gross revenue for the first 12 months of the loan, increasing to 1/12 of 4% of gross revenue thereafter.

 

With respect to Loan No. 50, Holiday Inn Express Canton, there is a cash sweep period in effect as of the origination date of the mortgage loan in connection with the scheduled property improvement plan. All excess cash flow after payment of monthly debt service, required reserves and operating expenses is required to be deposited into the excess cash flow account. The cash sweep period will expire upon the completion of the scheduled property improvement plan so long as a cash sweep period does not exist for any other reason.

   
(18)

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. 5, 1 Kaiser Plaza, the Monthly TI/LC Reserve ($) is subject to a cap of $18,000,000 (approximately $49.08 per square of foot of KFHP’s leased area). The loan documents require that the TI/LC Reserve Cap ($) be reduced to $0 when either (i) KFHP has either renewed or extended its lease and any and all rights to contract or terminate the lease with respect to any portion of the premises have been extinguished or (ii) the space occupied by such tenant(s) has been re-let to one or more replacement tenants (which may include KFHP), provided that, in either case, all tenant improvement and leasing commission obligations have been satisfied and either (x) such tenant(s) or replacement tenant(s) is paying full contractual rent, (y) the borrower has deposited the amount of any abated rent with the lender or (z) such tenant(s) has a long term unsecured credit rating of Baa3 or higher

 

 

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from Moody’s or BBB- or higher from S&P and has no right to terminate its lease prior to the expiration of the free rent period under the lease.

 

With respect to Loan No. 9, 1333 Broadway, the Monthly TI/LC Reserve ($) is subject to a cap of $2,500,000 (approximately $10.41 per square foot). The loan documents require that the TI/LC Reserve Cap ($) be reduced to $0 when either (i) such tenant has either renewed or extended its lease or (ii) the space occupied by such tenant has been re-let to one or more replacement tenants (which may include URS Corporation), provided that, in either case, all tenant improvements and leasing commissions obligations have been satisfied and either (x) such tenant or replacement tenant is paying full contractual rent, (y) the borrower has deposited the amount of any abated rent with the lender or (z) such tenant(s) has a long term unsecured credit rating of Baa3 or higher from Moody’s or BBB- or higher from S&P and has no right to terminate its lease prior to the expiration of the free rent period under the lease.

 

With respect to Loan Nos. 13 and 15, Embassy Suites Charleston and Embassy Suites Busch Gardens Hotel, in each case, Monthly Other Reserve ($) is subject to (i) an annual cap of (A) with respect to Embassy Suites Charleston, $2,700,000 per year and (B) with respect to Embassy Suites Busch Gardens Hotel, $2,000,000 per year (each, the “Annual Required PIP Amount”), and (ii) an aggregate cap of (A) with respect to Embassy Suites Charleston, $8,065,543, and (B) with respect to Embassy Suites Busch Gardens Hotel, $8,335,312, in connection with PIP (each, the “PIP Amount”). In the event that any updated PIP budget indicates that the amounts to complete the PIP exceeds the then required PIP Amount, the PIP Amount and the Annual Required PIP Amount are required to be increased by the amount reasonably determined by the lender to complete the PIP as set forth in such updated PIP budget.

 

With respect to Loan No. 21, Cicero Marketplace, in the event that Price Chopper exercises its renewal option extending its lease to at least May 31, 2028, and provided that no trigger event (as defined in the loan documents) then exists, the borrower is entitled to the funds in the TI/LC reserve in excess of $200,000 and the TI/LC Reserve Cap ($) will be reduced to $200,000.

 

With respect to Loan No. 31, Decatur Crossing II, in the event that Amarr Company, ABM Building Services and Micros Systems (Oracle America) have each exercised an extension or renewal option extending its respective lease to at least October 31, 2026, May 31, 2027 and February 28, 2025, respectively, then provided that no trigger event (as defined in the loan documents) then exists, (a) $150,000 shall be disbursed to the borrower from the TI/LC reserve and (b) the TI/LC Reserve Cap ($) will be reduced to $300,000. Additionally, in the event that each of Amarr Company, ABM Building Services and Micros Systems (Oracle America) has exercised an extension or renewal option extending its lease expiration to at least August 6, 2028, provided that no trigger event (as defined in the loan documents) then exists, the TI/LC Reserve Cap ($) will be reduced to $250,000.

 

With respect to Loan No. 37, Sunshine Heights Shopping Center & Attic Self Storage, after January 1, 2020 and provided that no tenant trigger remains outstanding, the aggregate amount in the Monthly TI/LC Reserve ($), excluding any termination fee or other consideration payable to the borrower in connection with any tenant’s election to exercise any early termination option or any similar amendment or reduction of rent, will be subject to a cap of $600,000.

   
(19) 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.
   
(20)

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. 5, 1 Kaiser Plaza, the Largest Tenant, Kaiser Foundation Health Plan, Inc. (“KFHP”), encompasses two leases. KFHP leases 283,081 square feet expiring in February 2025, in addition to 83,696 square feet expiring in February 2027. KFHP also leases an additional 6,339 square feet of storage space. In addition, the 2nd Largest Tenant, Aiken & Welch, Inc., leases 9,838 expiring in April 2021, in addition to 1,797 square feet expiring in April 2017. Aiken & Welch, Inc. also leases an additional 2,014 square feet of storage space. The 3rd Largest Tenant, Sitzmann Morris & Lavis, Inc., also leases an additional 270 square feet in storage space.

 

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With respect to Loan No. 6, Salesforce Tower, the 2nd Largest Tenant, JPMorgan Chase Bank, National Association, consists of 85,783 square feet expiring in June 2020 and 116,522 square feet expiring in June 2025.

 

With respect to Loan No. 9, 1333 Broadway, the 3rd Largest Tenant, Teecom Design Group, Inc., does not include 390 square feet of storage space.

 

With respect to Loan No. 12.02, National Business Park – 2 Research Way, the 4th Largest Tenant, CitiusTech Inc, leases 3,028 square feet of space which expires on October 31, 2018 and another 2,465 square feet of space which expires on February 25, 2021.

 

With respect to Loan No. 12.04, National Business Park – 105 College Road East, the Largest Tenant, Drinker, Biddle, leases 36,430 square feet of space which expires on March 31, 2021 and 2,965 square feet of space that is leased on a month-to-month basis.

   
(21)

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. 3, Opry Mills, the 2nd Largest Tenant, Regal Cinema, has the right to terminate its lease if the occupancy rate in the shopping center (excluding the leased premises) falls below 50% of the leasable area and such occupancy rate continues for 12 months.

 

With respect to Loan No. 4, Westfield San Francisco Centre, the Largest Tenant, San Francisco State University, is subleasing approximately 18,354 square feet to San Francisco Examiner and approximately 18,712 square feet to Westfield Labs (which is an affiliate of the borrower). The sub-leased premises will be subject to the San Francisco State University lease that expires December 31, 2021. In addition, the 2nd Largest Tenant, Crunchyroll, Inc., is subleasing approximately 30,000 square feet to GoPro, Inc. The sublease expires in June 2017. During the sublease period, Crunchyroll, Inc. is required to pay the borrowers, as additional rent, 50% of all rent, additional rent or other consideration paid by GoPro, Inc. to Crunchyroll, Inc. in excess of the rent and additional rent already payable for such space under the prime lease. No additional income in connection with such subleases has been underwritten.

 

With respect to Loan No. 4, Westfield San Francisco Centre, the 4th Largest Tenant, Bespoke, is an affiliate of the borrowers.

 

With respect to Loan No. 5, 1 Kaiser Plaza, the Largest Tenant, KFHP, has the right to contract its leased space as follows: (i) by up to 140,000 square feet at any time (including up to 100,000 square feet of space located on the 24th floor through the 27th floor (the “High Rise Space”)) with 12 months’ notice and the payment of a contraction fee, except that the tenant may not exercise this option with respect to the High Rise Space prior to March 1, 2018; (ii) with respect to all or any portion of its space located on the ground floor through the 23rd floor at any time on or after February 28, 2023, with 15 months’ notice and the payment of a contraction fee; and (iii) with respect to all or any portion of the High Rise Space at any time after February 28, 2025, with 15 months’ notice and the payment of a contraction fee.

 

With respect to Loan No. 6, Salesforce Tower, the Largest Tenant, Salesforce, if the borrower fails to deliver possession to Salesforce of any portion of the 21st or 23rd floors by February 1, 2017, then the tenant has the right to terminate its lease solely with respect to such portions of the 21st and/or the 23rd floor, with written notice at any time prior to the date that such portion is actually delivered to the tenant. If the borrower fails to deliver possession of any portion of the 22nd floor by March 1, 2017, then the tenant has the right to terminate its lease solely with respect to such portion of the 22nd floor, with written notice at any time prior to the date that such portion is actually delivered to the tenant.

   
  With respect to Loan No. 6, Salesforce Tower, the 2nd Largest Tenant, JPMorgan Chase Bank, National Association, is subleasing approximately 19,214 square feet to KPMG, 15,231 square feet to Thomas Caterers of Distinction, Inc., 13,335 square feet to Central Indiana Corporate Partnership, Inc., 12,175 square feet to the Greater Indianapolis Chamber of Commerce, Inc. and 6,614 to Indianapolis Downtown, Inc.

 

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With respect to Loan No. 6, Salesforce Tower, the 3rd Largest Tenant, Bose McKinney & Evans, LLP, is subleasing approximately 12,527 square feet to Caldwell Vanriper, LLC.

 

With respect to Loan No. 6, Salesforce Tower, the 4th Largest Tenant, Ernst & Young U.S. LLP, has the right to terminate its lease as of September 30, 2020 with 12 months’ notice and the payment of a termination fee.

 

With respect to Loan No. 8, Crocker Park Phase One & Two, the Largest Tenant, Dick’s Sporting Goods, has the right to pay alternate rent equal to 3% of its gross sales if less than 75% of the net rentable area at Phase One (excluding Dick’s Sporting Goods leased space and any outparcels) is open and operating. Additionally, Dick’s Sporting Goods has the right to terminate its lease if the previously stated co-tenancy provision is not cured in 12 months. The 3rd Largest Tenant, Barnes & Noble, has the right to pay reduced rent if (i) less than 60% of the net rentable area at the Phase One (excluding Barnes & Noble leased space) is open and operating for 12 months or more and (ii) Barnes & Noble’s gross sales have decreased by more than 10% as compared to the trailing-12 month period prior to the trailing-12 month calculation period. Additionally, Barnes & Noble has the right to terminate its lease if the previously stated co-tenancy provision is not cured after the trailing-12 month calculation period. The 5th Largest Tenant, H&M, has the right to pay alternate rent equal to 6% of gross sales if (i)(a) eight of American Eagle, Z Gallery, Hollister, Banana Republic, Limited Too, Ann Taylor, Talbot’s, Express, Victoria Secret and Abercrombie & Fitch, (b) Dick’s Sporting Goods and Barnes & Noble or (c) replacement tenants listed in clauses (a) and (b) consisting of tenants commonly found in first class lifestyle, power or enclosed mall shopping centers or as otherwise reasonably approved by H&M, plus (ii) 80% of the net rentable area in Phase I and Dick’s Sporting Goods and Barnes & Noble are in occupancy and open for business.

 

With respect to Loan No. 9, 1333 Broadway, the Largest Tenant, URS Corporation, has the right to terminate its lease on or after March 1, 2020, with 12 months’ notice and payment of a termination fee. The tenant also has the right to contract its space by 6,001 square feet (approximately 8.2% of its leased space) at any time on or after March 1, 2018, with nine months’ notice and the payment of a contraction fee. The 2nd Largest Tenant, the U.S. Department of Agriculture, has the right to terminate its lease any time after November 30, 2019, with 90 days’ notice. The 4th Largest Tenant, the State of California Public Utilities Commission, has the right to terminate its lease at any time with 60 days’ notice.

 

With respect to Loan No. 10, Laguna Design Center, the Largest Tenant, Baker, Knapp and Tubbs, has the right to terminate its lease as of January 31, 2019, with 180 days’ notice. The 3rd Largest Tenant, Thomas Lavin, has the right to terminate its lease on September 30, 2017 or September 30, 2019, in each case with 90 days’ notice and the payment of a termination fee, except that no fee is payable in the event of an early termination on September 30, 2019. The 4th Largest Tenant, Harsey & Harsey, has the right to terminate its lease at any time with 90 days’ notice.

 

With respect to Loan No. 12.01, National Business Park – 4 Research Way, the Largest Tenant, SES Americom, has the right to reduce its leased space by up to 15% with 12 months’ notice at any time between January 2019 and January 2021. Additionally, the 2nd Largest Tenant, Technicolor USA, has the right to terminate its lease on January 31, 2022 with 12 months’ notice.

 

With respect to Loan No. 12.04, National Business Park – 105 College Road East, the Largest Tenant, Drinker, Biddle has the right to terminate its lease on March 31, 2018 or March 31, 2019 with 12 months’ notice and payment of unamortized costs.

   
  With respect to Loan No. 14, Vadata - Ashburn Data Center, the Largest Tenant and sole tenant, Vadata, Inc. (“Vadata”), occupies data centers located in three buildings, identified as DC-8, DC-9 and DC-10, in each case pursuant to a separate lease. If the landlord terminates Vadata’s lease at the DC-8 building pursuant to casualty and condemnation provisions and Vadata therefore decides it cannot continue its operations at the DC-9 building, then Vadata may terminate the lease at the DC-9 building by giving written notice to the landlord within 30 days after the termination of the DC-8 lease. Likewise, if the lease at the DC-9 building is terminated due to casualty and condemnation provisions and Vadata decides it cannot continue operations at the DC-8 building, then Vadata may terminate its lease at the DC-8 building by giving written notice to the landlord within 30 days after the termination of the DC-9 lease; however, with respect to the DC-10 building, the landlord must terminate the leases at both the DC-8 and the DC-9

 

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buildings in order for Vadata to be able to terminate its lease at the DC-10 building by giving written notice to the landlord within 30 days after the termination of the DC-8 and DC-9 leases.

 

With respect to Loan No. 16, 100 East Wisconsin Avenue, the 3rd Largest Tenant, Wells Fargo Bank, N.A., has the right to terminate its lease as of October 31, 2021, with 12 months’ notice and the payment of a termination fee. The tenant also has the option to contract a portion of its space on either the 12th or 14th floors (not to exceed 50% of the rentable area for such floor) as of October 31, 2021, with 12 months’ notice and the payment of a contraction fee. The 4th Largest Tenant, Johnson Bank, has the right to terminate its lease as of April 30, 2018, with 360 days’ notice and the payment of a termination fee.

 

With respect to Loan No. 20, Centrica, the Largest Tenant, Santander Consumer USA, Inc., has the right to terminate its lease on September 30, 2024, with 12 months’ notice and payment of a termination fee.

 

With respect to Loan No. 21, Cicero Marketplace, the 3rd Largest Tenant, Dollar Tree, has the right to pay reduced rent if Price Chopper closes. Additionally, Dollar Tree has the right to terminate its lease if the Price Chopper space remains closed for six months. The 5th Largest Tenant, Men’s Wearhouse, has the right to terminate its lease if more than 50% of the net rentable area is vacant for six months or longer.

 

With respect to Loan No. 42.03, Fort Wayne Office Portfolio – Executive Center II, the Largest Tenant, Aetna Life Insurance Company, has the right to terminate its lease as of May 31, 2019 provided the tenant gives landlord written notice not later than November 30, 2018 and pays a termination fee in the amount of $379,264.68. In addition, the tenant will have the option to surrender any portion of the premises as of May 31, 2019 provided the tenant gives landlord written notice not later than November 30, 2018 and pay a surrender fee equal to the product of the square footage of the space being surrendered and $6.98.

 

With respect to Loan No. 44, Douglasville Crossroads, the 3rd Largest Tenant, Shoe Show, Inc., has an option to terminate at the end of its third lease year ending November 30, 2018 and for any lease year thereafter if its gross sales are less than $825,000. The tenant is required to provide 30 days’ notice within 60 days following the end of such lease year.

 

With respect to Loan No. 45, Seven Bridges, the 4th Largest Tenant, ATI Physical Therapy, has a one-time option to terminate the lease effective on September 30, 2018 with 270 days’ notice. If exercised, the tenant will pay a termination fee of $57,106.64.

   
(22)

In certain cases, the Principal / Carveout Guarantor name was shortened for spacing purposes.

 

With respect to Loan Nos. 2 and 27, 693 Fifth Avenue and 415 West 13th Street, there is no separate Carveout Guarantor, and the related borrower is the sole party responsible for any breaches or violations of the nonrecourse carve-out provisions in the mortgage loan documents or the environmental indemnity.

 

With respect to Loan No. 3, Opry Mills, the obligations and liabilities of the Principal / Carveout Guarantor under the nonrecourse carve-out provisions in the loan documents are capped at $75,000,000.

 

With respect to Loan No. 4, Westfield San Francisco Centre, the obligations and liabilities of the Principal / Carveout Guarantors under the full recourse carve-out provisions in the loan documents are capped at 10% of the outstanding principal balance of the Westfield San Francisco Centre Whole Loan.

 

With respect to Loan No. 10, Laguna Design Center, after consummation of the reverse 1031 exchange Donald Engle will own one of the borrowing entities. Donald Engle is obligated under his guaranty for certain breaches or violations of the nonrecourse carve-out provisions attributed to that borrower. William L. Hutchinson is liable for any breach or violation of the nonrecourse carve-outs in the loan documents or the environmental indemnity.

   
(23) With respect to Loan No. 1, 9 West 57th Street, the borrowers have pledged both the fee interest in the mortgaged property and the leasehold estate. The borrowers are permitted to terminate the ground lease upon certain terms and conditions in the loan documents which include, without limitation, delivery of a

 

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new title policy or an endorsement to the existing title policy, confirmation that all space leases will remain in full force and effect and satisfaction of any REMIC requirements.

 

With respect to Loan No. 4, Westfield San Francisco Centre, the loan is secured in part by the one of the borrower’s leasehold interests in the portion of the mortgaged property known as San Francisco Centre, constituting approximately 23.4% of the total net rentable area, and by the other borrower’s fee simple interest in the portion of the mortgaged property known as the Emporium, constituting approximately 76.6% of the total net rentable area.

 

With respect to Loan No. 8, Crocker Park Phase One & Two, the borrower is the lessee pursuant to a space lease (the “Underlying Lease”) whereby it leases approximately 38,360 square feet of space (the “Leasehold Space”) on a neighboring retail property which is owned by an affiliate of the sponsor. The Underlying Lease expires in April 2020, with seven five-year extension options, and the Crocker Park Phase One & Two Whole Loan documents require the borrower (and permit the lender) to exercise the options so long as Regal Cinemas Crocker Park 16 (“Regal”) renews its lease at Crocker Park Phase One & Two. The borrower entered into the Underlying Lease in order to accommodate a request by Regal to occupy premises which include space on both the Crocker Park Phase One & Two development (said property, “Crocker Park”) as well as the neighboring Leasehold Space. Consequently, the borrower is party to a direct lease with Regal (the “Crocker-Regal Lease”) whereby it has leased to Regal space in Crocker Park (the “Crocker Portion”) and subleased to Regal the Leasehold Space. The Crocker Portion and the Leasehold Space are in different buildings and are connected by a bridge that goes over a roadway. The borrower has mortgaged its interest in the Leasehold Space to the lender pursuant to the Crocker Park Phase One & Two Whole Loan documents. The Underlying Lease includes (without limitation): (i) notice and cure rights running to the lender, (ii) that any mortgage on the fee interest will be subordinate to the Underlying Lease (and as such, no foreclosure can automatically terminate the Underlying Lease), (iii) the agreement of the landlord pursuant to the Underlying Lease to maintain insurance on the improvements where the Leasehold Space is located that meets standards largely consistent with the Crocker Park Phase One & Two Whole Loan documents and, in the event of a casualty, provided that the Underlying Lease is not terminated in accordance with its terms, proceeds attributable to the Leasehold Space will be held and disbursed by a trustee meeting designated ratings requirements and (iv) the borrower will have the right to terminate the Underlying Lease if the Crocker-Regal Lease is terminated (unless the termination is caused by a default under the Crocker-Regal Lease by the borrower) and the lender will have the right to determine whether to require that the borrower terminate or maintain the Underlying Lease. The Crocker Park Phase One & Two Whole Loan documents provide that if at any time the lender has not received required evidence that all taxes are paid relating to the Leasehold Space or the aforementioned insurance policies relating to the Leasehold Space are maintained, the lender may institute escrows for the same.

 

With respect to Loan No. 15, Embassy Suites Busch Gardens Hotel, the loan is secured by the subleasehold interest in the mortgaged property, which is subject to a prime ground lease between the Board of Trustees for the Internal Improvement Fund and the University of South Florida Research Foundation Incorporated. The ground sublease expires simultaneously with the prime ground lease (November 7, 2081). Rent under the sublease is $65,000, which was prepaid in full on November 30, 1995.

   
  With respect to Loan No. 26, Hilton Garden Inn Ridgefield Park, the borrower has pledged both the fee interest in the mortgaged property and its subleasehold estate, which is subject to a prime ground lease. In the event of an acquisition by the prime leasehold mortgagee of the fee interest of the borrower in the mortgaged property pursuant to the purchase option under the prime ground lease which grants the prime leasehold mortgagee the right to gain possession of the prime ground lease estate and purchase the fee estate held by the borrower, the loan documents require the lender to release the fee interest held by the borrower upon certain terms and conditions, including, without limitation: (i) no event of default is continuing; (ii) the transfer is not to an affiliate of the borrower; (iii) the borrower delivers an endorsement to the title policy and evidence that the remaining property is not subject to any lien for taxes due or not yet due that are attributable to the fee estate; (iv) delivery of a REMIC opinion; (v) the borrower deposits the proceeds from the sale into a reserve with the lender to be held as additional collateral for the loan; (vi) delivery of evidence that the fee transferee has assumed all obligations and covenants of the borrower under the subordination, non-disturbance and attornment agreement for the loan secured by the prime ground lease; and (vii) delivery of a rating agency confirmation. If the resulting LTV exceeds 125%,

 

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the borrower must pay down the loan by the amount specified in the loan documents or deliver a REMIC opinion.

 

With respect to Loan No. 27, 415 West 13th Street, the mortgaged property is subject to a fractured condominium regime that has four units (three “South Units” and one “North Unit”). The borrower owns one of the three South Units and does not control the board. The borrower owns two votes of the condominium board assigned to its unit, Unit 1S, and the other South Units, Unit 2S and Unit 3S have two votes and six votes, respectively, while the owner of the sole North Unit, Unit N1, owns one vote. For board decisions affecting both the South and the North Units, not fewer than eight votes of the north and south board members are required, while for board decisions affecting only the South Units, not fewer than seven votes of the south board members are required. The condominium board is responsible for, among other things, the common elements, budgets, obtaining and maintaining insurance, and managing any sale in connection with the foreclosure of the lien for unpaid common charges. Prior written consent of the mortgagee is required for any amendment that would adversely affect the priority or validity of the lien of the mortgage.

   
(24)

The classification of the lockbox types is described in the Preliminary Prospectus. See “Description of the Mortgage Pool – Lockbox Accounts” for further details.

 

With respect to Loan No. 50, Holiday Inn Express Canton, the mortgage loan is structured with a CMA lockbox. However, there was a cash sweep period in effect as of the origination date of the mortgage loan in connection with the scheduled property improvement plan. The borrower was required to deliver written instructions to credit card companies to deposit all revenues into a lockbox account controlled by the lender. In addition, the borrower and property manager are required to deposit all revenue received into the lockbox account. All funds in the lockbox account are swept on each business day to a cash management account under the control of the lender and disbursed during each interest period of the term of the loan in accordance with the loan documents. All excess cash flow after payment of monthly debt service, required reserves and operating expenses is required to be deposited into an excess cash flow account. The cash sweep period will expire upon the completion of the scheduled property improvement plan so long as a cash sweep period does not exist for any other reason.

   
(25) With respect to Loan No. 16, 100 East Wisconsin Avenue, the 100 East Wisconsin Avenue Whole Loan will be serviced under the JPMCC 2016-JP3 Pooling and Servicing Agreement until such time that the controlling pari passu companion loan is securitized, at which point the 100 East Wisconsin Whole Loan will be serviced under the related pooling and servicing agreement. The initial controlling noteholder is JPMCB, or an affiliate, as holder of the related controlling pari passu companion loan.
   
(26)

Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Debt—Mezzanine Indebtedness,” “—Future Mezzanine Debt” 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. 10, Laguna Design Center, an affiliate of one of the sponsors, DE St. Croix, LLC, has provided an unsecured loan in the amount of $2,140,261 to one of the tenant-in-common borrowers as part of a reverse 1031 exchange. The unsecured note is required to be extinguished no later than January 24, 2017 regardless of whether the note is repaid, and the loan documents require that the equity interests of the related borrower be transferred to the unsecured lender at such time. The unsecured lender has signed a subordination and standstill agreement, which subordinates the unsecured loan to the mortgage loan. See “Description of the Mortgage Pool – Additional Debt – Other Unsecured Indebtedness” in the Preliminary Prospectus for additional details regarding the unsecured loan.

 

With respect to Loan No. 27, 415 West 13th Street, RREEF Spezial Invest GmbH (“RREEF”), an affiliate of the borrower and sponsor, made an unsecured loan in the original principal amount of $7,000,000 to the borrower. The parties have entered into a subordination and standstill agreement which subordinates the unsecured debt to the mortgage loan and prohibits RREEF from enforcing its remedies so long as the senior loan is outstanding. See “Description of the Mortgage Pool – Additional Debt – Other Unsecured Indebtedness” in the Preliminary Prospectus for details regarding the unsecured loan.

 

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