FWP 1 n4385-x4anxa1.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-276033-03

 

BBCMS 2024-C28 Disclaimer 

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-276033) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-888-603-5847 (8 a.m. – 5 p.m. EST).

Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.

STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION

The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance.  None of of Barclays Capital Inc., Goldman Sachs & Co. LLC, SG Americas Securities, LLC, Wells Fargo Securities, LLC, UBS Securities LLC, Deutsche Bank Securities Inc., Bancroft Capital, LLC and Drexel Hamilton, LLC, or any of their respective affiliates, make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.

This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement.

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

The information herein is preliminary and may be supplemented or amended prior to the time of sale.

In addition, the Offered Certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined, or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis.

The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.

The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

 

 

 

 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name % of Initial Pool Balance % of Loan Balance Mortgage Loan Originator Mortgage Loan Seller Related Group Crossed Group Address
                1 25    
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 9.9% 100.0% WFB WFB NAP NAP 12430 4th Street and 12415 6th Street
2 Loan 7, 10, 12, 23 1 900 North Michigan 9.9% 100.0% GSBI GSMC NAP NAP 900 North Michigan Avenue
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 9.7% 100.0% Barclays, GSBI, JPMCB, SGFC Barclays, SGFC NAP NAP 4663 River City Drive
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 8.7% 100.0% GACC, GSBI, WFB GACC, GSMC NAP NAP 8000 South Arizona Grand Parkway
5 Loan 16, 23 1 Morrison Yard 6.5% 100.0% GSBI GSMC NAP NAP 850 Morrison Drive
6 Loan 7, 12, 23, 30 1 Dallas Market Center 6.2% 100.0% GSBI GSMC NAP NAP 2000 North Stemmons Freeway and 2050-2100 North Stemmons Freeway
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 5.6% 100.0% Barclays, MSBNA Barclays NAP NAP 10950 North Torrey Pines Road
8 Loan 2, 19 1 1900 Cardinal 4.3% 100.0% UBS AG UBS AG NAP NAP 1900 Cardinal Drive
9 Loan 5, 15, 19 1 Nashua Plaza 4.0% 100.0% UBS AG UBS AG NAP NAP 4 & 10 Coliseum Avenue and 5, 10, 14-40, 42-48 & 51 Gusabel Avenue
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  3.5% 100.0% SGFC SGFC NAP NAP 6 Industrial Way East
11 Loan 19 1 SpringHill Suites Savannah 2.7% 100.0% Barclays Barclays NAP NAP 150 Montgomery Street
12 Loan 4, 17, 19 1 Kenwood Pavilion 2.4% 100.0% ZBNA ZBNA Group B NAP 8060 & 8115-8133 Montgomery Road
13 Loan 19 1 10 Quivira Plaza 2.2% 100.0% ZBNA ZBNA Group B NAP 12104 Shawnee Mission Parkway
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 1.9% 100.0% SMC SMC NAP NAP 2067 Anthony Avenue
15 Loan   1 Falcon & Mallard Heights Apartments 1.8% 100.0% ZBNA ZBNA NAP NAP 1275, 1276, 1350, 1351, 1430 & 1431 Mike Street
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 1.8% 100.0% SGFC SGFC Group A NAP 5520 North 92nd Street, 9306 West Birch Avenue, 53225 and 5860 North Teutonia Avenue, 8808 and 8816 West Mill Road, 5235 and 5286 North
29th Street, 1514, 1524 and 1534 Melvin Avenue, 2600 West Victory Lane, 10295 West Fond Du Lac Avenue, 2360 North 53rd Street, 4835 North
91st Street, 5147 North 28th Street, 5159 North 85th Street, 2727 South 13th Street and 4180 North 53rd Street
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 1.6%   Barclays Barclays NAP NAP Various
17.01 Property   1 Kenton Place 0.8% 47.1%         17105C-17115A Kenton Drive
17.02 Property   1 Mint Hill Village 0.4% 24.8%         7427 Matthews-Mint Hill Road and 4410 Mint Hill Lane
17.03 Property   1 Market Square II 0.3% 16.9%         14225 and 14231 Market Square Drive
17.04 Property   1 Charlotte Auto 0.2% 11.3%         10120 Albemarle Road
18 Loan 16, 19 1 Homewood Suites South Las Vegas 1.6% 100.0% Barclays Barclays NAP NAP 10450 South Eastern Avenue
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 1.6% 100.0% BSPRT  BSPRT NAP NAP 320 North Park Vista Street
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 1.5% 100.0% SGFC SGFC Group A NAP 5940 North Sherman Boulevard, 5045-5065 North Hopkins Street, 4276 & 4331 North 27th Street and 5770 North 91st Street
21 Loan 19 1 Orange Blossom Center 1.4% 100.0% SGFC SGFC NAP NAP 4504 South Orange Blossom Trail
22 Loan 16, 27 1 92 West 169th Street 1.4% 100.0% GSBI GSMC NAP NAP 92 West 169th Street
23 Loan 27 1 Oakwood Square 1.3% 100.0% GSBI GSMC NAP NAP 2640-2710 Easton Street Northeast and 6242 Middlebranch Avenue Northeast
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 1.2% 100.0% SGFC SGFC Group A NAP 8804 West Carmen Avenue, 6140 and 8227 West Appleton Avenue, 9346 West Birch Avenue, 5700 North 91st Street, 8677 West Fond Du Lac
Avenue, 5859 North Lovers Lane Road, 4401 North 51st Boulevard, 5952 North 63rd Street, 9200 and 9314 West Sheridan Avenue, 9205, 9307,
9410 and 9425 West Silver Spring Drive and 9405 West Beckett Avenue
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 1.1% 100.0% SGFC SGFC Group A NAP 4921-4947, 4977, 6225, 6235 North 84th Street, 8726 West Carmen Avenue, 6702-6704 North 55th Street, 9024-9026 North Joyce Avenue and
9040, 9050 & 9060 North 85th Street
26 Loan   1 CT Self Storage - Fullerton 1.1% 100.0% Barclays Barclays Group C NAP 900 South Raymond Avenue
27 Loan   1 Summerfield Apartments 0.8% 100.0% SMC SMC NAP NAP 7614 South Gessner Road
28 Loan 16 1 501 W 58th Avenue 0.7% 100.0% GSBI GSMC NAP NAP 501 West 58th Avenue
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 0.7%   SMC SMC NAP NAP Various
29.01 Property   1 Eagle Trace MHC 0.6% 86.1%         908 North Houston Lake Boulevard
29.02 Property   1 Edgewood MHC 0.1% 13.9%         519 Dunbar Road
30 Loan 17, 19 1 CT Self Storage - Pomona 0.6% 100.0% Barclays Barclays Group C NAP 150 County Road
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah 0.4% 100.0% LCF LCF Group D NAP 9307 Lee Highway
32 Loan 11, 19, 23 1 Walgreens - Johnson City 0.4% 100.0% LCF LCF Group D NAP 5104 Bobby Hicks Highway
33 Loan 11, 19, 23 1 Walgreens - Gallatin 0.4% 100.0% LCF LCF Group D NAP 914 Greenlea Boulevard
34 Loan 17, 19 1 CT Self Storage - Escondido 0.4% 100.0% Barclays Barclays Group C NAP 1530 East Grand Avenue
35 Loan 11, 19 1 Dollar General - Orange City 0.1% 100.0% LCF LCF Group D NAP 676 North Volusia Avenue
36 Loan 11, 19 1 Dollar General - DeLeon 0.1% 100.0% LCF LCF Group D NAP 4975 North US Highway 17
37 Loan 11, 19 1 Dollar General - Satsuma 0.1% 100.0% LCF LCF Group D NAP 1149 South US Highway 17

 

 A-1-1 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name City County State Zip Code General Property Type Detailed Property Type Year Built Year Renovated
                  2 2    
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga Rancho Cucamonga  San Bernardino  CA Various Industrial  Warehouse / Distribution  2024 NAP
2 Loan 7, 10, 12, 23 1 900 North Michigan Chicago  Cook  IL 60611 Mixed Use  Retail / Office  1988 2015-2018
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Jacksonville  Duval  FL 32246 Retail  Super Regional Mall  2005, 2008, 2014 NAP
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Phoenix  Maricopa  AZ 85044 Hospitality  Full Service  1987 2017-2019
5 Loan 16, 23 1 Morrison Yard Charleston  Charleston  SC 29403 Office  Suburban  2023 NAP
6 Loan 7, 12, 23, 30 1 Dallas Market Center Dallas  Dallas  TX 75207 Mixed Use  Merchandise Mart/Retail  1957, 1958, 1974, 1979 1999, 2019
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines La Jolla  San Diego  CA 92037 Hospitality  Full Service  1989 2012
8 Loan 2, 19 1 1900 Cardinal Fulton  Callaway   MO 65251 Industrial  Warehouse / Distribution  1999 NAP
9 Loan 5, 15, 19 1 Nashua Plaza Nashua  Hillsborough  NH 03063 Retail  Anchored  1967-2006 2023
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  Eatontown  Monmouth  NJ 07724 Hospitality  Full Service  1988 2017-2019
11 Loan 19 1 SpringHill Suites Savannah Savannah  Chatham  GA 31401 Hospitality  Select Service  2009 2015
12 Loan 4, 17, 19 1 Kenwood Pavilion Cincinnati  Hamilton  OH 45236 Retail  Anchored  1998, 2013 2024
13 Loan 19 1 10 Quivira Plaza Shawnee  Johnson  KS 66216 Retail  Anchored  1980, 1993, 2002, 2014 NAP
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue Bronx  Bronx  NY 10457 Multifamily  Mid Rise  2024 NAP
15 Loan   1 Falcon & Mallard Heights Apartments Dickinson  Stark  ND 58601 Multifamily  Garden  2013, 2014 NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave Milwaukee and Racine  Milwaukee and Racine  WI 53225, 53209, 53224, 53210, 53215, 53216 and 53402 Multifamily  Garden  1928, 1951, 1954, 1955, 1959, 1960, 1961, 1970, 1976, 1978 2020, 2022
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio Various  Mecklenburg  NC Various Various  Various  Various Various
17.01 Property   1 Kenton Place Cornelius  Mecklenburg  NC 28031 Mixed Use  Retail / Office / Multifamily  2001 2014
17.02 Property   1 Mint Hill Village Mint Hill  Mecklenburg  NC 28227 Retail  Unanchored  2007 NAP
17.03 Property   1 Market Square II Huntersville  Mecklenburg  NC 28078 Retail  Unanchored  2008 NAP
17.04 Property   1 Charlotte Auto Charlotte  Mecklenburg  NC 28227 Retail  Auto Dealer / Service  2004 NAP
18 Loan 16, 19 1 Homewood Suites South Las Vegas Henderson  Clark  NV 89052 Hospitality  Extended Stay  2006 NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates Anaheim  Orange  CA 92806 Manufactured Housing  Manufactured Housing  1970 NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins Milwaukee  Milwaukee  WI 53209, 53216 and 53225 Multifamily  Garden  1927, 1929, 1955, 1959, 1963 2018
21 Loan 19 1 Orange Blossom Center Orlando  Orange  FL 32839 Retail  Anchored  1959 NAP
22 Loan 16, 27 1 92 West 169th Street Bronx  Bronx  NY 10452 Multifamily  Mid Rise  2024 NAP
23 Loan 27 1 Oakwood Square Canton  Stark  OH 44721 Retail  Anchored  1982-1983 2018
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio Milwaukee  Milwaukee  WI 53210, 53218 and 53225 Multifamily  Garden  1947, 1958, 1959, 1960, 1961, 1962, 1973 2020, 2021
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio Milwaukee  Milwaukee  WI 53225, 53223 and 53224 Multifamily  Garden  1959, 1960, 1963, 1978, 1980 2022
26 Loan   1 CT Self Storage - Fullerton Fullerton  Orange  CA 92831 Self Storage  Self Storage  2004 NAP
27 Loan   1 Summerfield Apartments Houston  Harris  TX 77036 Multifamily  Garden  1969 2023
28 Loan 16 1 501 W 58th Avenue Anchorage  Anchorage  AK 99518 Industrial  Warehouse / Distribution  1984 NAP
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio Warner Robins  Houston   GA 31093 Manufactured Housing  Manufactured Housing  Various NAP
29.01 Property   1 Eagle Trace MHC Warner Robins  Houston   GA 31093 Manufactured Housing  Manufactured Housing  1990 NAP
29.02 Property   1 Edgewood MHC Warner Robins  Houston   GA 31093 Manufactured Housing  Manufactured Housing  1970 NAP
30 Loan 17, 19 1 CT Self Storage - Pomona Pomona  Los Angeles  CA 91766 Self Storage  Self Storage  2003 NAP
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah Ooltewah  Hamilton  TN 37363 Retail  Single Tenant  2008 NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City Johnson City  Washington  TN 37615 Retail  Single Tenant  2007 NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin Gallatin  Sumner  TN 37066 Retail  Single Tenant  2007 NAP
34 Loan 17, 19 1 CT Self Storage - Escondido Escondido  San Diego  CA 92027 Self Storage  Self Storage  2004 NAP
35 Loan 11, 19 1 Dollar General - Orange City Orange City  Volusia  FL 32763 Retail  Single Tenant  2012 NAP
36 Loan 11, 19 1 Dollar General - DeLeon De Leon Springs  Volusia  FL 32130 Retail  Single Tenant  2012 NAP
37 Loan 11, 19 1 Dollar General - Satsuma Satsuma  Putnam  FL 32189 Retail  Single Tenant  2011 NAP

 

 A-1-2 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Number of Units Unit of Measure Loan Per Unit ($) Original Balance ($) Cut-off Date Balance ($) Maturity/ARD Balance ($) Interest Rate % Administrative Fee Rate % Net Mortgage Rate % Monthly Debt Service (P&I) ($) Monthly Debt Service (IO) ($) Annual Debt Service (P&I) ($) Annual Debt Service (IO) ($) Amortization Type
3 6, 7 6, 7 6, 7 8 9 9 9 9
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 2,168,119 SF 123.43 80,000,000 80,000,000 80,000,000 5.83310% 0.01893% 5.81417% NAP 394,274.35 NAP 4,731,292.20 Interest Only
2 Loan 7, 10, 12, 23 1 900 North Michigan 831,350 SF 216.52 80,000,000 80,000,000 80,000,000 6.85300% 0.01643% 6.83657% NAP 463,212.04 NAP 5,558,544.48 Interest Only
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 1,022,042 SF 352.24 78,000,000 78,000,000 78,000,000 5.94800% 0.01643% 5.93157% NAP 391,989.72 NAP 4,703,876.64 Interest Only
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 744 Rooms 168,010.75 70,000,000 70,000,000 70,000,000 5.55000% 0.01643% 5.53357% NAP 328,246.53 NAP 3,938,958.36 Interest Only
5 Loan 16, 23 1 Morrison Yard 153,509 SF 342.00 52,500,000 52,500,000 52,500,000 7.28400% 0.01643% 7.26757% NAP 323,101.04 NAP 3,877,212.48 Interest Only
6 Loan 7, 12, 23, 30 1 Dallas Market Center 2,746,550 SF 86.29 50,000,000 50,000,000 50,000,000 6.50200% 0.01768% 6.48432% NAP 274,679.40 NAP 3,296,152.80 Interest Only
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 394 Rooms 279,187.82 45,000,000 45,000,000 45,000,000 6.68700% 0.01768% 6.66932% NAP 254,245.31 NAP 3,050,943.72 Interest Only
8 Loan 2, 19 1 1900 Cardinal 1,128,300 SF 31.02 35,000,000 35,000,000 35,000,000 6.62800% 0.01643% 6.61157% NAP 196,001.62 NAP 2,352,019.44 Interest Only
9 Loan 5, 15, 19 1 Nashua Plaza 259,868 SF 124.64 32,500,000 32,388,713 28,457,961 7.15000% 0.01643% 7.13357% 219,507.20 NAP 2,634,086.40 NAP Amortizing Balloon
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel 208 Rooms 136,933.25 28,500,000 28,482,116 24,847,537 6.98800% 0.01643% 6.97157% 189,381.58 NAP 2,272,578.96 NAP Amortizing Balloon
11 Loan 19 1 SpringHill Suites Savannah 160 Rooms 137,500.00 22,000,000 22,000,000 22,000,000 6.70000% 0.01643% 6.68357% NAP 124,539.35 NAP 1,494,472.20 Interest Only
12 Loan 4, 17, 19 1 Kenwood Pavilion 82,867 SF 235.32 19,500,000 19,500,000 19,500,000 7.19000% 0.01643% 7.17357% NAP 118,460.24 NAP 1,421,522.88 Interest Only
13 Loan 19 1 10 Quivira Plaza 183,479 SF 98.10 18,000,000 18,000,000 18,000,000 6.86000% 0.01643% 6.84357% NAP 104,329.17 NAP 1,251,950.04 Interest Only
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 52 Units 298,076.92 15,500,000 15,500,000 15,500,000 6.06500% 0.01643% 6.04857% NAP 79,427.63 NAP 953,131.60 Interest Only
15 Loan 1 Falcon & Mallard Heights Apartments 396 Units 35,798.49 14,200,000 14,176,204 12,637,913 7.79600% 0.06518% 7.73082% 102,182.29 NAP 1,226,187.48 NAP Amortizing Balloon
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 145 Units 97,241.38 14,100,000 14,100,000 12,322,050 7.08300% 0.01643% 7.06657% 94,594.93 NAP 1,135,139.16 NAP Amortizing Balloon
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 87,558 SF 150.76 13,200,000 13,200,000 13,200,000 6.96000% 0.01643% 6.94357% NAP 77,623.33 NAP 931,479.96 Interest Only
17.01 Property 1 Kenton Place 38,299 SF 6,215,000 6,215,000 6,215,000
17.02 Property 1 Mint Hill Village 20,259 SF 3,275,000 3,275,000 3,275,000
17.03 Property 1 Market Square II 10,000 SF 2,225,000 2,225,000 2,225,000
17.04 Property 1 Charlotte Auto 19,000 SF 1,485,000 1,485,000 1,485,000
18 Loan 16, 19 1 Homewood Suites South Las Vegas 145 Rooms 88,219.66 12,800,000 12,791,851 11,145,346 6.94000% 0.01643% 6.92357% 84,643.56 NAP 1,015,722.72 NAP Amortizing Balloon
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 200 Pads 63,750.00 12,750,000 12,750,000 10,197,494 7.00000% 0.01643% 6.98357% 90,114.35 NAP 1,081,372.20 NAP Amortizing Balloon
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 118 Units 102,605.10 12,115,000 12,107,402 10,562,944 6.99000% 0.01643% 6.97357% 80,520.05 NAP 966,240.60 NAP Amortizing Balloon
21 Loan 19 1 Orange Blossom Center 159,608 SF 68.92 11,000,000 11,000,000 11,000,000 6.69600% 0.01643% 6.67957% NAP 62,232.50 NAP 746,790.00 Interest Only
22 Loan 16, 27 1 92 West 169th Street 38 Units 289,473.68 11,000,000 11,000,000 11,000,000 6.37000% 0.01643% 6.35357% NAP 59,202.66 NAP 710,431.92 Interest Only
23 Loan 27 1 Oakwood Square 122,707 SF 85.16 10,450,000 10,450,000 9,126,781 7.06000% 0.01643% 7.04357% 69,945.71 NAP 839,348.52 NAP Amortizing Balloon
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 96 Units 102,239.58 9,815,000 9,815,000 8,538,612 6.91200% 0.01643% 6.89557% 64,720.40 NAP 776,644.80 NAP Amortizing Balloon
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 92 Units 98,686.12 9,085,000 9,079,123 7,899,372 6.88700% 0.01643% 6.87057% 59,754.85 NAP 717,058.20 NAP Amortizing Balloon
26 Loan 1 CT Self Storage - Fullerton 100,999 SF 89.11 9,000,000 9,000,000 9,000,000 5.69000% 0.01643% 5.67357% NAP 43,267.71 NAP 519,212.52 Interest Only
27 Loan 1 Summerfield Apartments 110 Units 56,636.36 6,230,000 6,230,000 6,230,000 7.05000% 0.01643% 7.03357% NAP 37,109.60 NAP 445,315.21 Interest Only
28 Loan 16 1 501 W 58th Avenue 48,000 SF 125.00 6,000,000 6,000,000 6,000,000 6.45800% 0.01643% 6.44157% NAP 32,738.47 NAP 392,861.64 Interest Only
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 136 Pads 42,279.41 5,750,000 5,750,000 5,750,000 7.12000% 0.01643% 7.10357% NAP 34,590.51 NAP 415,086.11 Interest Only
29.01 Property 1 Eagle Trace MHC 107 Pads 4,950,000 4,950,000 4,950,000
29.02 Property 1 Edgewood MHC 29 Pads 800,000 800,000 800,000
30 Loan 17, 19 1 CT Self Storage - Pomona 87,840 SF 56.92 5,000,000 5,000,000 5,000,000 5.88000% 0.01643% 5.86357% NAP 24,840.28 NAP 298,083.36 Interest Only
31 Loan 11, 19, 23 1 Walgreens- Ooltewah 14,550 SF 247.42 3,600,000 3,600,000 3,600,000 6.80800% 0.01643% 6.79157% NAP 20,707.67 NAP 248,492.04 Interest Only - ARD
32 Loan 11, 19, 23 1 Walgreens - Johnson City 14,550 SF 233.68 3,400,000 3,400,000 3,400,000 6.80800% 0.01643% 6.79157% NAP 19,557.24 NAP 234,686.88 Interest Only - ARD
33 Loan 11, 19, 23 1 Walgreens - Gallatin 14,820 SF 215.92 3,200,000 3,200,000 3,200,000 6.80800% 0.01643% 6.79157% NAP 18,406.81 NAP 220,881.72 Interest Only - ARD
34 Loan 17, 19 1 CT Self Storage - Escondido 76,176 SF 39.38 3,000,000 3,000,000 3,000,000 5.73000% 0.01643% 5.71357% NAP 14,523.96 NAP 174,287.52 Interest Only
35 Loan 11, 19 1 Dollar General - Orange City 9,026 SF 116.33 1,050,000 1,050,000 1,050,000 6.80800% 0.01643% 6.79157% NAP 6,039.74 NAP 72,476.88 Interest Only - ARD
36 Loan 11, 19 1 Dollar General - DeLeon 9,100 SF 109.89 1,000,000 1,000,000 1,000,000 6.80800% 0.01643% 6.79157% NAP 5,752.13 NAP 69,025.56 Interest Only - ARD
37 Loan 11, 19 1 Dollar General - Satsuma 9,026 SF 94.17 850,000 850,000 850,000 6.80800% 0.01643% 6.79157% NAP 4,889.31 NAP 58,671.72 Interest Only - ARD

 

 A-1-3 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name ARD Loan (Yes / No) Interest Accrual Method Original Interest-Only Period (Mos.) Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity / ARD (Mos.) Original Amortization Term (Mos.) Remaining Amortization Term (Mos.) Origination Date Seasoning (Mos.) Payment Due Date First Payment Date First P&I Payment Date Maturity Date or Anticipated Repayment Date Final Maturity Date
          11                            
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga No Actual/360 84 83 84 83 0 0 6/28/2024 1 11 8/11/2024 NAP 7/11/2031 7/11/2031
2 Loan 7, 10, 12, 23 1 900 North Michigan No Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center No Actual/360 120 118 120 118 0 0 5/10/2024 2 1 7/1/2024 NAP 6/1/2034 6/1/2034
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa No Actual/360 120 120 120 120 0 0 7/26/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
5 Loan 16, 23 1 Morrison Yard No Actual/360 84 83 84 83 0 0 6/20/2024 1 6 8/6/2024 NAP 7/6/2031 7/6/2031
6 Loan 7, 12, 23, 30 1 Dallas Market Center No Actual/360 120 118 120 118 0 0 5/31/2024 2 6 7/6/2024 NAP 6/6/2034 6/6/2034
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines No Actual/360 120 120 120 120 0 0 7/17/2024 0 1 9/1/2024 NAP 8/1/2034 8/1/2034
8 Loan 2, 19 1 1900 Cardinal No Actual/360 120 120 120 120 0 0 7/24/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
9 Loan 5, 15, 19 1 Nashua Plaza No Actual/360 0 0 120 115 360 355 2/27/2024 5 6 4/6/2024 4/6/2024 3/6/2034 3/6/2034
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  No Actual/360 0 0 120 119 360 359 6/27/2024 1 1 8/1/2024 8/1/2024 7/1/2034 7/1/2034
11 Loan 19 1 SpringHill Suites Savannah No Actual/360 120 118 120 118 0 0 6/6/2024 2 6 7/6/2024 NAP 6/6/2034 6/6/2034
12 Loan 4, 17, 19 1 Kenwood Pavilion No Actual/360 120 120 120 120 0 0 7/17/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
13 Loan 19 1 10 Quivira Plaza No Actual/360 120 120 120 120 0 0 7/17/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue No Actual/360 120 120 120 120 0 0 7/11/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
15 Loan   1 Falcon & Mallard Heights Apartments No Actual/360 0 0 120 117 360 357 4/18/2024 3 6 6/6/2024 6/6/2024 5/6/2034 5/6/2034
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave No Actual/360 0 0 120 120 360 360 7/2/2024 0 1 9/1/2024 9/1/2024 8/1/2034 8/1/2034
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio No Actual/360 120 120 120 120 0 0 7/23/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
17.01 Property   1 Kenton Place                              
17.02 Property   1 Mint Hill Village                              
17.03 Property   1 Market Square II                              
17.04 Property   1 Charlotte Auto                              
18 Loan 16, 19 1 Homewood Suites South Las Vegas No Actual/360 0 0 120 119 360 359 6/20/2024 1 6 8/6/2024 8/6/2024 7/6/2034 7/6/2034
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates No Actual/360 0 0 120 120 300 300 7/23/2024 0 6 9/6/2024 9/6/2024 8/6/2034 8/6/2034
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins No Actual/360 0 0 120 119 360 359 6/6/2024 1 1 8/1/2024 8/1/2024 7/1/2034 7/1/2034
21 Loan 19 1 Orange Blossom Center No Actual/360 120 120 120 120 0 0 7/10/2024 0 1 9/1/2024 NAP 8/1/2034 8/1/2034
22 Loan 16, 27 1 92 West 169th Street No Actual/360 120 119 120 119 0 0 6/21/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
23 Loan 27 1 Oakwood Square No Actual/360 0 0 120 120 360 360 7/17/2024 0 6 9/6/2024 9/6/2024 8/6/2034 8/6/2034
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio No Actual/360 0 0 120 120 360 360 7/8/2024 0 1 9/1/2024 9/1/2024 8/1/2034 8/1/2034
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio No Actual/360 0 0 120 119 360 359 6/24/2024 1 1 8/1/2024 8/1/2024 7/1/2034 7/1/2034
26 Loan   1 CT Self Storage - Fullerton No Actual/360 120 119 120 119 0 0 6/26/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
27 Loan   1 Summerfield Apartments No Actual/360 120 119 120 119 0 0 6/28/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
28 Loan 16 1 501 W 58th Avenue No Actual/360 120 119 120 119 0 0 6/25/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio No Actual/360 120 120 120 120 0 0 7/19/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2034
29.01 Property   1 Eagle Trace MHC                              
29.02 Property   1 Edgewood MHC                              
30 Loan 17, 19 1 CT Self Storage - Pomona No Actual/360 120 119 120 119 0 0 7/11/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 1/6/2037
32 Loan 11, 19, 23 1 Walgreens - Johnson City Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 10/6/2037
33 Loan 11, 19, 23 1 Walgreens - Gallatin Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 8/6/2037
34 Loan 17, 19 1 CT Self Storage - Escondido No Actual/360 120 119 120 119 0 0 7/11/2024 1 6 8/6/2024 NAP 7/6/2034 7/6/2034
35 Loan 11, 19 1 Dollar General - Orange City Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 4/6/2037
36 Loan 11, 19 1 Dollar General - DeLeon Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 1/6/2037
37 Loan 11, 19 1 Dollar General - Satsuma Yes Actual/360 120 120 120 120 0 0 7/22/2024 0 6 9/6/2024 NAP 8/6/2034 4/6/2037

 

 A-1-4 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Grace Period - Late Fee (Days) Grace Period - Default (Days) Prepayment Provision Most Recent EGI ($) Most Recent Expenses ($) Most Recent NOI ($) Most Recent NOI Date Most Recent Description Second Most Recent EGI ($) Second Most Recent Expenses ($) Second Most Recent NOI ($) Second Most Recent NOI Date
10 12 16 16
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 0 0 L(25),D(52),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
2 Loan 7, 10, 12, 23 1 900 North Michigan 5 (Once per trailing 12-month period) 0 L(24),D(89),O(7) 57,803,398 31,088,059 26,715,339 12/31/2023 T-12 55,448,320 29,652,635 25,795,686 12/31/2022
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 0 0 L(26),D(88),O(6) 57,541,496 15,808,735 41,732,761 12/31/2023 T-12 53,937,457 14,670,553 39,266,904 12/31/2022
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 0 0 L(24),D(89),O(7) 99,370,667 69,105,823 30,264,845 4/30/2024 T-12 94,844,651 66,725,487 28,119,164 12/31/2023
5 Loan 16, 23 1 Morrison Yard 0 0 L(25),D(52),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
6 Loan 7, 12, 23, 30 1 Dallas Market Center 0 0 L(26),D(87),O(7) 89,131,929 52,704,290 36,427,639 2/29/2024 T-12 84,850,749 49,758,034 35,092,715 2/28/2023
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 0 5 L(24),D(89),O(7) 52,688,988 33,313,010 19,375,978 5/31/2024 T-12 50,714,969 32,484,721 18,230,248 12/31/2023
8 Loan 2, 19 1 1900 Cardinal 0 0 L(24),D(89),O(7) 3,441,312 0 3,441,312 4/30/2024 T-12 3,441,315 0 3,441,315 12/31/2023
9 Loan 5, 15, 19 1 Nashua Plaza 0 0 L(29),D(84),O(7) 4,874,784 1,525,158 3,349,626 8/31/2023 T-12 4,232,784 1,560,340 2,672,445 12/31/2022
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel 5 5 L(35),D(78),O(7) 12,555,596 8,501,057 4,054,539 4/30/2024 T-12 12,649,976 8,497,764 4,152,212 12/31/2023
11 Loan 19 1 SpringHill Suites Savannah 0 0 L(24),YM1(89),O(7) 9,922,126 6,230,104 3,692,022 4/30/2024 T-12 10,168,593 6,419,886 3,748,707 12/31/2023
12 Loan 4, 17, 19 1 Kenwood Pavilion 0 0 L(24),D(91),O(5) 3,496,424 935,063 2,561,361 5/31/2024 T-12 3,384,165 919,441 2,464,724 12/31/2023
13 Loan 19 1 10 Quivira Plaza 0 0 L(24),D(91),O(5) 3,011,029 1,188,669 1,822,360 5/31/2024 T-12 2,991,992 1,190,447 1,801,545 12/31/2023
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 0 0 L(24),D(92),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV
15 Loan 1 Falcon & Mallard Heights Apartments 0 0 L(27),D(88),O(5) 3,335,237 1,539,130 1,796,107 5/31/2024 T-12 2,971,769 1,489,940 1,481,829 12/31/2023
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 5 5 L(35),YM1(81),O(4) 2,100,224 458,738 1,641,486 5/31/2024 T-12 1,931,080 483,864 1,447,216 12/31/2023
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 0 0 L(24),D(92),O(4) 1,782,194 424,578 1,357,615 4/30/2024 T-12 1,762,390 431,927 1,330,462 12/31/2023
17.01 Property 1 Kenton Place 853,405 238,305 615,100 4/30/2024 T-12 855,181 243,691 611,491 12/31/2023
17.02 Property 1 Mint Hill Village 457,203 97,325 359,878 4/30/2024 T-12 465,971 93,661 372,310 12/31/2023
17.03 Property 1 Market Square II 270,586 54,616 215,970 4/30/2024 T-12 240,809 54,664 186,145 12/31/2023
17.04 Property 1 Charlotte Auto 201,000 34,333 166,667 4/30/2024 T-12 200,428 39,912 160,516 12/31/2023
18 Loan 16, 19 1 Homewood Suites South Las Vegas 0 0 L(25),D(91),O(4) 6,527,425 4,312,061 2,215,364 4/30/2024 T-12 6,545,076 4,355,329 2,189,747 12/31/2023
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 0 0 L(24),YM1(90),O(6) 6,178,908 3,948,100 2,230,808 5/31/2024 T-12 6,095,312 3,979,909 2,115,403 12/31/2023
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 5 5 L(35),YM1(81),O(4) 1,596,049 262,975 1,333,074 4/30/2024 T-12 1,563,102 306,097 1,257,004 12/31/2023
21 Loan 19 1 Orange Blossom Center 0 0 L(24),D(89),O(7) 2,500,603 772,860 1,727,743 4/30/2024 T-12 2,459,656 828,964 1,630,692 12/31/2023
22 Loan 16, 27 1 92 West 169th Street 0 0 L(25),D(88),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
23 Loan 27 1 Oakwood Square 0 0 L(24),D(89),O(7) 1,510,834 406,500 1,104,334 5/31/2024 T-12 1,456,048 427,888 1,028,160 12/31/2023
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 5 5 L(35),YM1(81),O(4) 1,407,373 278,089 1,129,284 5/31/2024 T-12 1,285,900 281,478 1,004,422 12/31/2023
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 5 5 L(35),YM1(81),O(4) 1,258,096 315,503 942,593 4/30/2024 T-12 1,168,407 292,849 875,558 12/31/2023
26 Loan 1 CT Self Storage - Fullerton 0 0 L(25),D(88),O(7) 2,196,703 557,076 1,639,627 5/31/2024 T-12 2,204,415 553,069 1,651,346 12/31/2023
27 Loan 1 Summerfield Apartments 0 0 L(24),YM1(91),O(5) 1,097,533 479,316 618,217 5/31/2024 T-12 1,066,054 486,783 579,271 12/31/2023
28 Loan 16 1 501 W 58th Avenue 0 0 L(25),D(88),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 0 0 L(24),YM1(91),O(5) 798,522 167,819 630,703 5/31/2024 T-12 786,874 161,657 625,217 12/31/2023
29.01 Property 1 Eagle Trace MHC NAV NAV NAV NAV NAV NAV NAV NAV NAV
29.02 Property 1 Edgewood MHC NAV NAV NAV NAV NAV NAV NAV NAV NAV
30 Loan 17, 19 1 CT Self Storage - Pomona 0 0 L(25),D(88),O(7) 1,880,896 872,281 1,008,615 5/31/2024 T-12 1,866,212 816,597 1,049,615 12/31/2023
31 Loan 11, 19, 23 1 Walgreens- Ooltewah 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
32 Loan 11, 19, 23 1 Walgreens - Johnson City 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
33 Loan 11, 19, 23 1 Walgreens - Gallatin 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
34 Loan 17, 19 1 CT Self Storage - Escondido 0 0 L(25),D(88),O(7) 1,891,546 624,109 1,267,437 5/31/2024 T-12 1,873,099 618,425 1,254,674 12/31/2023
35 Loan 11, 19 1 Dollar General - Orange City 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
36 Loan 11, 19 1 Dollar General - DeLeon 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV
37 Loan 11, 19 1 Dollar General - Satsuma 0 0 YM(24),DorYM(89),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV

 

 A-1-5 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Second Most Recent Description Third Most Recent EGI ($) Third Most Recent Expenses ($) Third Most Recent NOI ($) Third Most Recent NOI Date Third Most Recent Description Underwritten Economic Occupancy (%) Underwritten EGI ($) Underwritten Expenses ($) Underwritten Net Operating Income ($) Underwritten Replacement / FF&E Reserve ($) Underwritten TI / LC ($) Underwritten Net Cash Flow ($) Underwritten NOI DSCR (x)
16 15 15 7, 14
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga NAV NAV NAV NAV NAV NAV 100.0% 51,204,198 7,913,376 43,290,822 21,681 0 43,269,141 2.74
2 Loan 7, 10, 12, 23 1 900 North Michigan T-12 54,179,102 27,476,761 26,702,341 12/31/2021 T-12 90.8% 56,031,359 33,262,367 22,768,993 224,465 441,427 22,103,101 1.82
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center T-12 49,482,581 13,527,876 35,954,705 12/31/2021 T-12 92.1% 63,759,318 15,996,884 47,762,434 264,000 2,088,000 45,410,434 2.20
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa T-12 93,704,479 62,651,235 31,053,244 12/31/2022 T-12 63.2% 99,267,457 69,043,990 30,223,467 3,766,975 0 26,456,492 4.30
5 Loan 16, 23 1 Morrison Yard NAV NAV NAV NAV NAV NAV 95.6% 8,709,237 2,377,152 6,332,085 30,702 124,816 6,176,567 1.63
6 Loan 7, 12, 23, 30 1 Dallas Market Center T-12 75,542,455 41,287,106 34,255,349 2/28/2022 T-12 94.0% 93,314,164 52,910,281 40,403,884 631,706 1,268,250 38,503,927 2.59
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines T-12 49,075,696 30,973,337 18,102,359 12/31/2022 T-12 78.9% 53,274,784 34,528,706 18,746,078 2,663,739 0 16,082,339 2.51
8 Loan 2, 19 1 1900 Cardinal T-12 3,788,818 0 3,788,818 12/31/2022 T-12 95.0% 3,446,226 103,387 3,342,839 0 0 3,342,839 1.42
9 Loan 5, 15, 19 1 Nashua Plaza T-12 4,143,401 1,557,266 2,586,135 12/31/2021 T-12 95.0% 5,109,335 1,560,664 3,548,670 38,980 75,163 3,434,527 1.35
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel T-12 10,210,415 7,358,241 2,852,174 12/31/2022 T-12 58.5% 12,521,291 8,477,139 4,044,152 626,065 0 3,418,087 1.78
11 Loan 19 1 SpringHill Suites Savannah T-12 9,709,599 6,297,075 3,412,523 12/31/2022 T-12 80.1% 9,922,126 6,236,577 3,685,549 396,885 0 3,288,664 2.47
12 Loan 4, 17, 19 1 Kenwood Pavilion T-12 3,079,325 990,184 2,089,141 12/31/2022 T-12 95.0% 3,125,275 923,615 2,201,660 15,608 82,867 2,103,184 1.55
13 Loan 19 1 10 Quivira Plaza T-12 2,896,983 1,144,861 1,752,122 12/31/2022 T-12 87.8% 3,223,427 1,240,524 1,982,903 60,714 91,740 1,830,450 1.58
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAV NAV NAV NAV NAV NAV 96.9% 2,025,647 247,842 1,777,806 13,000 0 1,764,806 1.87
15 Loan 1 Falcon & Mallard Heights Apartments T-12 NAV NAV NAV NAV NAV 93.2% 3,536,431 1,628,521 1,907,910 118,800 0 1,789,110 1.56
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave T-12 1,382,341 432,862 949,478 12/31/2022 T-12 95.0% 2,081,549 596,907 1,484,642 44,370 0 1,440,272 1.31
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio T-12 1,667,056 442,671 1,224,385 12/31/2022 T-12 95.0% 1,804,007 464,929 1,339,078 20,180 54,635 1,264,264 1.44
17.01 Property 1 Kenton Place T-12 796,648 252,060 544,588 12/31/2022 T-12 95.0% 850,437 247,044 603,393 12,462 27,798 563,133
17.02 Property 1 Mint Hill Village T-12 438,845 102,587 336,258 12/31/2022 T-12 95.0% 458,389 110,491 347,899 3,368 14,214 330,316
17.03 Property 1 Market Square II T-12 235,931 48,570 187,360 12/31/2022 T-12 95.0% 294,349 62,813 231,536 1,500 7,238 222,798
17.04 Property 1 Charlotte Auto T-12 195,632 39,454 156,178 12/31/2022 T-12 95.0% 200,832 44,581 156,251 2,850 5,385 148,016
18 Loan 16, 19 1 Homewood Suites South Las Vegas T-12 5,912,190 4,130,956 1,781,234 12/31/2022 T-12 70.6% 6,527,426 4,407,413 2,120,013 261,097 0 1,858,916 2.09
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates T-12 5,630,452 3,884,252 1,746,200 12/31/2022 T-12 95.0% 6,092,209 4,064,332 2,027,877 10,000 0 2,017,877 1.88
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins T-12 1,309,042 348,579 960,463 12/31/2022 T-12 95.0% 1,668,952 417,670 1,251,282 37,760 0 1,213,522 1.30
21 Loan 19 1 Orange Blossom Center T-12 2,504,875 778,329 1,726,546 12/31/2022 T-12 82.5% 2,489,786 914,713 1,575,073 52,846 160,588 1,361,639 2.11
22 Loan 16, 27 1 92 West 169th Street NAV NAV NAV NAV NAV NAV 95.0% 1,085,623 113,545 972,079 9,500 0 962,579 1.37
23 Loan 27 1 Oakwood Square T-12 1,319,069 338,620 980,449 12/31/2022 T-12 95.0% 1,778,928 514,905 1,264,023 24,541 82,538 1,156,943 1.51
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio T-12 1,055,626 325,803 729,823 12/31/2022 T-12 95.0% 1,386,345 366,493 1,019,851 26,976 0 992,875 1.31
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio T-12 NAV NAV NAV NAV NAV 95.0% 1,338,237 386,741 951,495 32,200 0 919,295 1.33
26 Loan 1 CT Self Storage - Fullerton T-12 2,109,047 514,953 1,594,094 12/31/2022 T-12 92.7% 2,229,433 526,856 1,702,577 10,100 0 1,692,477 3.28
27 Loan 1 Summerfield Apartments T-12 728,730 373,838 354,892 12/31/2022 T-10 93.5% 1,097,533 472,018 625,515 27,500 0 598,015 1.40
28 Loan 16 1 501 W 58th Avenue NAV NAV NAV NAV NAV NAV 95.0% 968,727 284,610 684,118 4,800 33,905 645,412 1.74
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio T-12 744,588 160,915 583,673 12/31/2022 T-12 85.6% 862,893 208,656 654,237 6,800 0 647,437 1.58
29.01 Property 1 Eagle Trace MHC NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV
29.02 Property 1 Edgewood MHC NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV
30 Loan 17, 19 1 CT Self Storage - Pomona T-12 1,813,818 786,844 1,026,973 12/31/2022 T-12 92.3% 1,880,896 867,503 1,013,393 8,784 0 1,004,609 3.40
31 Loan 11, 19, 23 1 Walgreens- Ooltewah NAV NAV NAV NAV NAV NAV 100.0% 376,289 11,289 365,000 0 0 365,000 1.47
32 Loan 11, 19, 23 1 Walgreens - Johnson City NAV NAV NAV NAV NAV NAV 100.0% 351,546 10,546 341,000 0 0 341,000 1.45
33 Loan 11, 19, 23 1 Walgreens - Gallatin NAV NAV NAV NAV NAV NAV 100.0% 339,485 10,185 329,300 0 0 329,300 1.49
34 Loan 17, 19 1 CT Self Storage - Escondido T-12 1,794,182 576,510 1,217,673 12/31/2022 T-12 91.7% 1,891,546 596,275 1,295,271 7,618 0 1,287,654 7.43
35 Loan 11, 19 1 Dollar General - Orange City NAV NAV NAV NAV NAV NAV 100.0% 106,561 3,197 103,364 0 0 103,364 1.43
36 Loan 11, 19 1 Dollar General - DeLeon NAV NAV NAV NAV NAV NAV 100.0% 100,529 3,016 97,513 0 0 97,513 1.41
37 Loan 11, 19 1 Dollar General - Satsuma NAV NAV NAV NAV NAV NAV 100.0% 88,378 2,651 85,727 0 0 85,727 1.46

 

 A-1-6 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name  Underwritten NCF DSCR (x)   Underwritten NOI Debt Yield (%)   Underwritten NCF Debt Yield (%)   Appraised Value ($)  Appraised Value Type  Appraisal Date   Cut-off Date LTV Ratio (%)   LTV Ratio at Maturity / ARD (%)   Leased Occupancy (%)   Occupancy Date   Single Tenant (Y/N)   Largest Tenant 
          7, 14 7 7 5 5    5, 7   5, 7   3, 4       22, 23 
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 2.73 16.2% 16.2% 775,900,000 As Is 5/6/2024 34.5% 34.5% 100.0% 6/24/2024 No Chedraui USA
2 Loan 7, 10, 12, 23 1 900 North Michigan 1.77 12.6% 12.3% 315,000,000 As Is 5/29/2024 57.1% 57.1% 88.8% 7/17/2024 No Bloomingdale's
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 2.09 13.3% 12.6% 753,700,000 As Is 3/21/2024 47.8% 47.8% 93.9% 6/1/2024 No Nordstrom
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 3.76 24.2% 21.2% 318,800,000 As Is 6/4/2024 39.2% 39.2% 63.2% 4/30/2024 NAP NAP
5 Loan 16, 23 1 Morrison Yard 1.59 12.1% 11.8% 86,300,000 As Is 5/3/2024 60.8% 60.8% 96.7% 6/1/2024 No Pinnacle Bank
6 Loan 7, 12, 23, 30 1 Dallas Market Center 2.46 17.0% 16.2% 636,500,000 As Is 4/27/2024 37.2% 37.2% 91.1% 3/31/2024 No Goetz, Inc.
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 2.16 17.0% 14.6% 165,500,000 As Is 5/17/2024 66.5% 66.5% 78.9% 5/31/2024 NAP NAP
8 Loan 2, 19 1 1900 Cardinal 1.42 9.6% 9.6% 59,800,000 As Is 5/29/2024 58.5% 58.5% 100.0% 7/24/2024 Yes Dollar General
9 Loan 5, 15, 19 1 Nashua Plaza 1.30 11.0% 10.6% 48,330,000 As Is 8/15/2023 67.0% 58.9% 98.3% 2/26/2024 No Kohl's
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  1.50 14.2% 12.0% 49,800,000 As Is 4/18/2024 57.2% 49.9% 58.5% 4/30/2024 NAP NAP
11 Loan 19 1 SpringHill Suites Savannah 2.20 16.8% 14.9% 42,200,000 As Is (Extraordinary Assumption) 4/25/2024 52.1% 52.1% 80.1% 4/30/2024 NAP NAP
12 Loan 4, 17, 19 1 Kenwood Pavilion 1.48 11.3% 10.8% 33,000,000 As Is 7/2/2024 59.1% 59.1% 100.0% 7/16/2024 No LA Fitness
13 Loan 19 1 10 Quivira Plaza 1.46 11.0% 10.2% 29,300,000 As Is 6/21/2024 61.4% 61.4% 91.0% 7/16/2024 No Price Chopper
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 1.85 11.5% 11.4% 26,300,000 As Is 6/4/2024 58.9% 58.9% 90.4% 7/11/2024 NAP NAP
15 Loan   1 Falcon & Mallard Heights Apartments 1.46 13.5% 12.6% 26,370,000 As Is 3/21/2024 53.8% 47.9% 93.9% 6/13/2024 NAP NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 1.27 10.5% 10.2% 25,300,000 As Portfolio 5/30/2024 55.7% 48.7% 100.0% 6/1/2024 NAP NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 1.36 10.1% 9.6% 20,700,000 As Is Various 63.8% 63.8% 99.3% 7/15/2024    
17.01 Property   1 Kenton Place       10,100,000 As Is 6/1/2024     98.3% 7/15/2024 No Core Fitness
17.02 Property   1 Mint Hill Village       4,950,000 As Is 5/16/2024     100.0% 7/15/2024 No Raejax Fitness
17.03 Property   1 Market Square II       3,200,000 As Is 5/16/2024     100.0% 7/15/2024 No Allen Tate Realtors
17.04 Property   1 Charlotte Auto       2,450,000 As Is 5/19/2024     100.0% 7/15/2024 No Tuffy Tire & Auto Service
18 Loan 16, 19 1 Homewood Suites South Las Vegas 1.83 16.6% 14.5% 28,000,000 As Is (Extraordinary Assumption) 4/15/2024 45.7% 39.8% 70.6% 4/30/2024 NAP NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 1.87 15.9% 15.8% 28,000,000 As Is 4/8/2024 45.5% 36.4% 98.5% 6/1/2024 NAP NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 1.26 10.3% 10.0% 21,000,000 As Portfolio 5/12/2024 57.7% 50.3% 100.0% 5/1/2024 NAP NAP
21 Loan 19 1 Orange Blossom Center 1.82 14.3% 12.4% 24,800,000 As Is 5/21/2024 44.4% 44.4% 82.8% 6/26/2024 No Xavi Supermarket, LLC
22 Loan 16, 27 1 92 West 169th Street 1.35 8.8% 8.8% 15,200,000 As Is 6/5/2024 72.4% 72.4% 100.0% 6/20/2024 NAP NAP
23 Loan 27 1 Oakwood Square 1.38 12.1% 11.1% 16,500,000 As Is 5/23/2024 63.3% 55.3% 100.0% 7/14/2024 No Discount Drug Mart
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 1.28 10.4% 10.1% 17,000,000 As Portfolio 6/10/2024 57.7% 50.2% 100.0% 6/1/2024 NAP NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 1.28 10.5% 10.1% 16,200,000 As Portfolio 5/12/2024 56.0% 48.8% 100.0% 6/1/2024 NAP NAP
26 Loan   1 CT Self Storage - Fullerton 3.26 18.9% 18.8% 27,500,000 As Is 5/7/2024 32.7% 32.7% 93.5% 5/31/2024 NAP NAP
27 Loan   1 Summerfield Apartments 1.34 10.0% 9.6% 10,200,000 As Is 6/7/2024 61.1% 61.1% 96.4% 6/30/2024 NAP NAP
28 Loan 16 1 501 W 58th Avenue 1.64 11.4% 10.8% 9,100,000 As Is 4/30/2024 65.9% 65.9% 100.0% 5/23/2024 No Chugach Alaska Corporation
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 1.56 11.4% 11.3% 9,000,000 As Is 7/9/2024 63.9% 63.9% 86.0% 7/15/2024    
29.01 Property   1 Eagle Trace MHC       7,800,000 As Is 7/9/2024     94.4% 7/15/2024 NAP NAP
29.02 Property   1 Edgewood MHC       1,200,000 As Is 7/9/2024     55.2% 7/15/2024 NAP NAP
30 Loan 17, 19 1 CT Self Storage - Pomona 3.37 20.3% 20.1% 16,800,000 As Is 5/9/2024 29.8% 29.8% 94.5% 5/31/2024 NAP NAP
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah 1.47 10.1% 10.1% 5,850,000 As Is 3/31/2023 61.5% 61.5% 100.0% 7/22/2024 Yes Walgreens
32 Loan 11, 19, 23 1 Walgreens - Johnson City 1.45 10.0% 10.0% 5,450,000 As Is 3/28/2023 62.4% 62.4% 100.0% 7/22/2024 Yes Walgreens
33 Loan 11, 19, 23 1 Walgreens - Gallatin 1.49 10.3% 10.3% 5,275,000 As Is 3/27/2023 60.7% 60.7% 100.0% 7/22/2024 Yes Walgreens
34 Loan 17, 19 1 CT Self Storage - Escondido 7.39 43.2% 42.9% 17,500,000 As Is 5/7/2024 17.1% 17.1% 92.4% 5/31/2024 NAP NAP
35 Loan 11, 19 1 Dollar General - Orange City 1.43 9.8% 9.8% 1,875,000 As Is 3/24/2023 56.0% 56.0% 100.0% 7/22/2024 Yes Dollar General
36 Loan 11, 19 1 Dollar General - DeLeon 1.41 9.8% 9.8% 1,775,000 As Is 3/24/2023 56.3% 56.3% 100.0% 7/22/2024 Yes Dollar General
37 Loan 11, 19 1 Dollar General - Satsuma 1.46 10.1% 10.1% 1,550,000 As Is 3/18/2023 54.8% 54.8% 100.0% 7/22/2024 Yes Dollar General

 

 A-1-7 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Largest Tenant SF Largest Tenant % of NRA Largest Tenant Lease Expiration Date Second Largest Tenant Second Largest Tenant SF Second Largest Tenant % of NRA Second Largest Tenant Lease Expiration Date Third Largest Tenant Third Largest Tenant SF Third Largest Tenant % of NRA Third Largest Tenant Lease Expiration Date
23 23 23 23 23
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 1,422,524 65.6% 1/31/2044 CEVA Logistics 745,595 34.4% 4/30/2034 NAP NAP NAP NAP
2 Loan 7, 10, 12, 23 1 900 North Michigan 265,148 31.9% 9/30/2028 Grosvenor Capital Mgmnt, L.P. 72,738 8.7% 9/30/2037 Walton Street Capital LLC 30,304 3.6% 8/31/2029
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 123,000 12.0% 2/28/2030 Dick's Clothing & Sporting Goods 66,000 6.5% 1/31/2026 Restoration Hardware 48,697 4.8% 1/31/2037
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
5 Loan 16, 23 1 Morrison Yard 22,654 14.8% 4/30/2038 Morgan Stanley Smith Barney Financing, LLC 15,190 9.9% 2/28/2034 Parker Poe Adams & Bernstein LLP 14,677 9.6% 10/31/2033
6 Loan 7, 12, 23, 30 1 Dallas Market Center 36,653 1.3% 9/30/2025 Diverse Marketing 34,747 1.3% 10/31/2024 K. Graves & A. Graves, Inc. 34,517 1.3% 11/30/2026
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8 Loan 2, 19 1 1900 Cardinal 1,128,300 100.0% 6/30/2042 NAP NAP NAP NAP NAP NAP NAP NAP
9 Loan 5, 15, 19 1 Nashua Plaza 86,584 33.3% 1/31/2033 Burlington Coat Factory 70,000 26.9% 2/28/2029 JoAnn Stores 37,113 14.3% 1/31/2035
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11 Loan 19 1 SpringHill Suites Savannah NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12 Loan 4, 17, 19 1 Kenwood Pavilion 42,141 50.9% 6/30/2036 Cooper's Hawk Winery & Restaurant 11,000 13.3% 12/31/2028 PXG Golf 6,296 7.6% 4/30/2028
13 Loan 19 1 10 Quivira Plaza 64,736 35.3% 5/31/2028 Ace Hardware 21,000 11.4% 10/31/2025 Missie's Discount Liquors, LLC 11,480 6.3% 1/31/2030
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
15 Loan 1 Falcon & Mallard Heights Apartments NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio
17.01 Property 1 Kenton Place 6,377 16.7% 4/30/2027 Osaka Restaurant 3,132 8.2% 12/31/2028 Alphagraphics 2,600 6.8% 2/28/2026
17.02 Property 1 Mint Hill Village 3,024 14.9% 9/30/2028 Nano ProMT 2,731 13.5% 6/30/2027 UPS Store 1,995 9.8% 2/28/2027
17.03 Property 1 Market Square II 3,000 30.0% 5/31/2027 Fred Astaire Dance 2,000 20.0% 5/31/2027 Any Lab Test 1,250 12.5% 9/30/2027
17.04 Property 1 Charlotte Auto 7,000 36.8% 8/31/2032 Aamco 6,000 31.6% 3/31/2025 Napa 6,000 31.6% 2/28/2029
18 Loan 16, 19 1 Homewood Suites South Las Vegas NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
21 Loan 19 1 Orange Blossom Center 19,494 12.2% 12/31/2033 Dollar Tree Stores, Inc. 18,666 11.7% 9/30/2033 Citi Trends 13,031 8.2% 12/31/2030
22 Loan 16, 27 1 92 West 169th Street NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
23 Loan 27 1 Oakwood Square 27,500 22.4% 3/31/2034 KSA Fitness / Anytime Fitness 8,870 7.2% 5/31/2030 Jason's Place Inc 7,200 5.9% 3/31/2025
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
26 Loan 1 CT Self Storage - Fullerton NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
27 Loan 1 Summerfield Apartments NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28 Loan 16 1 501 W 58th Avenue 29,038 60.5% 12/31/2027 Platt Electrical Supply 18,962 39.5% 12/31/2027 NAP NAP NAP NAP
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio
29.01 Property 1 Eagle Trace MHC NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.02 Property 1 Edgewood MHC NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
30 Loan 17, 19 1 CT Self Storage - Pomona NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31 Loan 11, 19, 23 1 Walgreens- Ooltewah 14,550 100.0% 1/31/2033 NAP NAP NAP NAP NAP NAP NAP NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City 14,550 100.0% 10/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin 14,820 100.0% 8/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP
34 Loan 17, 19 1 CT Self Storage - Escondido NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
35 Loan 11, 19 1 Dollar General - Orange City 9,026 100.0% 4/30/2032 NAP NAP NAP NAP NAP NAP NAP NAP
36 Loan 11, 19 1 Dollar General - DeLeon 9,100 100.0% 1/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP
37 Loan 11, 19 1 Dollar General - Satsuma 9,026 100.0% 11/30/2031 NAP NAP NAP NAP NAP NAP NAP NAP

 

 A-1-8 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Fourth Largest Tenant Fourth Largest Tenant SF Fourth Largest Tenant % of NRA Fourth Largest Tenant Lease Expiration Date Fifth Largest Tenant Fifth Largest Tenant SF Fifth Largest Tenant % of NRA Fifth Largest Tenant Lease Expiration Date Environmental Phase I Report Date Environmental Phase II Report Date Engineering Report Date Seismic Report Date
          23 23   23                
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga NAP NAP NAP NAP NAP  NAP  NAP NAP 5/28/2024 NAP 5/16/2024 5/20/2024
2 Loan 7, 10, 12, 23 1 900 North Michigan Equinox 30,021 3.6% 6/30/2028 JMB Insurance Agency      24,246 2.9% 6/30/2037 6/7/2024 NAP 6/13/2024 NAP
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Jo-Ann Fabrics 35,000 3.4% 1/31/2026 Ross Dress For Less      30,187 3.0% 1/31/2026 4/4/2024 NAP 4/4/2024 NAP
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa NAP NAP NAP NAP NAP  NAP  NAP NAP 7/12/2024 NAP 6/24/2024 NAP
5 Loan 16, 23 1 Morrison Yard Burr & Forman LLP 12,125 7.9% 4/30/2035 McMillan Pazdan Smith, LLC      11,871 7.7% 2/28/2030 5/7/2024 NAP 5/7/2024 NAP
6 Loan 7, 12, 23, 30 1 Dallas Market Center OneCoast, LLC  31,764 1.2% 3/31/2031 Paul Michael Company      29,480 1.1% 10/31/2025 5/15/2024 NAP 5/15/2024 NAP
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines NAP NAP NAP NAP NAP  NAP  NAP NAP 4/4/2024 NAP 4/9/2024 4/9/2024
8 Loan 2, 19 1 1900 Cardinal NAP NAP NAP NAP NAP  NAP  NAP NAP 5/31/2024 NAP 5/31/2024 NAP
9 Loan 5, 15, 19 1 Nashua Plaza LL Bean 16,149 6.2% 9/30/2024 Haluwa Restaurant         6,800 2.6% 6/30/2027 8/23/2023 NAP 8/22/2023 NAP
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  NAP NAP NAP NAP NAP  NAP  NAP NAP 4/29/2024 NAP 4/29/2024 NAP
11 Loan 19 1 SpringHill Suites Savannah NAP NAP NAP NAP NAP  NAP  NAP NAP 5/8/2024 NAP 5/8/2024 NAP
12 Loan 4, 17, 19 1 Kenwood Pavilion Genesis Diamonds 4,485 5.4% 10/31/2029 Yardbird Furniture         3,904 4.7% 7/31/2028 6/26/2024 NAP 6/26/2024 NAP
13 Loan 19 1 10 Quivira Plaza Naomi's Hallmark 8,200 4.5% 5/31/2029 The Big Biscuit         4,500 2.5% 7/31/2026 6/24/2024 NAP 6/24/2024 NAP
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAP NAP NAP NAP NAP  NAP  NAP NAP 6/13/2024 NAP 6/13/2024 NAP
15 Loan   1 Falcon & Mallard Heights Apartments NAP NAP NAP NAP NAP  NAP  NAP NAP 3/28/2024 NAP 3/28/2024 NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave NAP NAP NAP NAP NAP  NAP  NAP NAP 6/14/2024 NAP 6/14/2024 NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio                         
17.01 Property   1 Kenton Place Kenton Keyman Center 2,018 5.3% 11/30/2024 Clean Eatz         2,008 5.2% 8/31/2027 5/20/2024 NAP 5/20/2024 NAP
17.02 Property   1 Mint Hill Village Royal Kartier Beauty Spa 1,477 7.3% 7/31/2027 Pour 64         1,390 6.9% 12/31/2026 5/20/2024 NAP 5/20/2024 NAP
17.03 Property   1 Market Square II Navy Recruiting Center 1,250 12.5% 9/29/2028 Jin Jin Restaurant         1,250 12.5% 8/31/2033 5/20/2024 NAP 5/20/2024 NAP
17.04 Property   1 Charlotte Auto NAP NAP NAP NAP NAP  NAP  NAP NAP 5/20/2024 NAP 5/20/2024 NAP
18 Loan 16, 19 1 Homewood Suites South Las Vegas NAP NAP NAP NAP NAP  NAP  NAP NAP 4/30/2024 NAP 4/30/2024 NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates NAP NAP NAP NAP NAP  NAP  NAP NAP 4/17/2024 NAP 4/17/2024 4/17/2024
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins NAP NAP NAP NAP NAP  NAP  NAP NAP 5/29/2024 NAP 5/28/2024 NAP
21 Loan 19 1 Orange Blossom Center Orange County Library System 12,750 8.0% 11/30/2026 Family Dollar         7,500 4.7% 12/31/2028 5/24/2024 NAP 5/24/2024 NAP
22 Loan 16, 27 1 92 West 169th Street NAP NAP NAP NAP NAP  NAP  NAP NAP 2/12/2024 NAP 6/11/2024 NAP
23 Loan 27 1 Oakwood Square Spider Monkey Brewing Co 6,839 5.6% 12/31/2025 Mercy Medical Center         6,500 5.3% 11/13/2028 6/14/2024 NAP 6/14/2024 NAP
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio NAP NAP NAP NAP NAP  NAP  NAP NAP 6/21/2024 NAP 6/21/2024 NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio NAP NAP NAP NAP NAP  NAP  NAP NAP 6/5/2024 NAP 6/5/2024 NAP
26 Loan   1 CT Self Storage - Fullerton NAP NAP NAP NAP NAP  NAP  NAP NAP 5/16/2024 NAP 5/16/2024 5/16/2024
27 Loan   1 Summerfield Apartments NAP NAP NAP NAP NAP  NAP  NAP NAP 6/20/2024 NAP 6/20/2024 NAP
28 Loan 16 1 501 W 58th Avenue NAP NAP NAP NAP NAP  NAP  NAP NAP 3/7/2024 NAP 3/7/2024 4/2/2024
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio                         
29.01 Property   1 Eagle Trace MHC NAP NAP NAP NAP NAP  NAP  NAP NAP 7/16/2024 NAP 7/16/2024 NAP
29.02 Property   1 Edgewood MHC NAP NAP NAP NAP NAP  NAP  NAP NAP 7/16/2024 NAP 7/17/2024 NAP
30 Loan 17, 19 1 CT Self Storage - Pomona NAP NAP NAP NAP NAP  NAP  NAP NAP 5/15/2024 NAP 5/16/2024 5/16/2024
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah NAP NAP NAP NAP NAP  NAP  NAP NAP 4/4/2023 NAP 11/24/2012 NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City NAP NAP NAP NAP NAP  NAP  NAP NAP 4/4/2023 NAP 1/15/2013 NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin NAP NAP NAP NAP NAP  NAP  NAP NAP 4/4/2023 NAP 12/5/2012 NAP
34 Loan 17, 19 1 CT Self Storage - Escondido NAP NAP NAP NAP NAP  NAP  NAP NAP 5/16/2024 NAP 5/16/2024 5/16/2024
35 Loan 11, 19 1 Dollar General - Orange City NAP NAP NAP NAP NAP  NAP  NAP NAP 4/4/2023 NAP 4/13/2012 NAP
36 Loan 11, 19 1 Dollar General - DeLeon NAP NAP NAP NAP NAP  NAP  NAP NAP 3/31/2023 NAP 4/13/2012 NAP
37 Loan 11, 19 1 Dollar General - Satsuma NAP NAP NAP NAP NAP  NAP  NAP NAP 4/5/2023 NAP 3/15/2012 NAP

 

 A-1-9 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name PML or SEL (%) Flood Zone Ownership Interest Ground Lease Expiration Date Ground Lease Extension Terms Annual Ground Lease Payment as of the Cut-off Date ($) Annual Ground Rent Increases (Y/N) Upfront RE Tax Reserve ($) Monthly RE Tax Reserve ($) Upfront Insurance Reserve ($) Monthly Insurance Reserve ($)
              17 17 17 17 17 18 19 18 19
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 6% No Fee NAP NAP NAP NAP 0 Springing 0 Springing
2 Loan 7, 10, 12, 23 1 900 North Michigan NAP No Fee NAP NAP NAP NAP 2,586,212 1,293,106 0 Springing
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa NAP No Fee / Leasehold 7/30/2057 None 100 No 0 Springing 0 Springing
5 Loan 16, 23 1 Morrison Yard NAP Yes - AE Fee NAP NAP NAP NAP 344,169 49,167 0 Springing
6 Loan 7, 12, 23, 30 1 Dallas Market Center NAP Yes - AE Fee NAP NAP NAP NAP 1,264,708 210,785 0 Springing
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 10% No Leasehold 6/30/2067 1, 10-year option or 1, 20-year option 3,887,227 No 0 Springing 0 Springing
8 Loan 2, 19 1 1900 Cardinal NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing
9 Loan 5, 15, 19 1 Nashua Plaza NAP No Fee NAP NAP NAP NAP 211,354 45,946 99,951 Springing
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  NAP No Fee NAP NAP NAP NAP 93,496 31,165 154,628 19,960
11 Loan 19 1 SpringHill Suites Savannah NAP No Fee NAP NAP NAP NAP 89,062 44,531 0 Springing
12 Loan 4, 17, 19 1 Kenwood Pavilion NAP No Fee NAP NAP NAP NAP 93,969 46,985 0 Springing
13 Loan 19 1 10 Quivira Plaza NAP No Fee NAP NAP NAP NAP 200,747 66,916 0 Springing
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAP No Fee NAP NAP NAP NAP 1,048 524 9,615 2,404
15 Loan   1 Falcon & Mallard Heights Apartments NAP No Fee NAP NAP NAP NAP 57,607 28,804 109,240 13,655
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave NAP No Fee NAP NAP NAP NAP 100,038 14,291 0 Springing
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio               74,658 9,332 0 Springing
17.01 Property   1 Kenton Place NAP No Fee NAP NAP NAP NAP        
17.02 Property   1 Mint Hill Village NAP No Fee NAP NAP NAP NAP        
17.03 Property   1 Market Square II NAP No Fee NAP NAP NAP NAP        
17.04 Property   1 Charlotte Auto NAP No Fee NAP NAP NAP NAP        
18 Loan 16, 19 1 Homewood Suites South Las Vegas NAP No Fee NAP NAP NAP NAP 47,293 15,764 68,121 5,677
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 14% No Leasehold 4/30/2045 None 2,885,130 No 97,567 12,196 8,897 8,897
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins NAP No Fee NAP NAP NAP NAP 55,126 7,875 0 Springing
21 Loan 19 1 Orange Blossom Center NAP No Fee NAP NAP NAP NAP 247,978 24,798 55,749 18,583
22 Loan 16, 27 1 92 West 169th Street NAP No Fee NAP NAP NAP NAP 143 71 10,050 1,675
23 Loan 27 1 Oakwood Square NAP No Fee NAP NAP NAP NAP 15,717 7,859 0 Springing
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio NAP No Fee NAP NAP NAP NAP 76,864 9,608 0 Springing
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio NAP No Fee NAP NAP NAP NAP 65,687 9,384 0 Springing
26 Loan   1 CT Self Storage - Fullerton 12% No Fee NAP NAP NAP NAP 48,164 6,881 0 Springing
27 Loan   1 Summerfield Apartments NAP No Fee NAP NAP NAP NAP 99,805 14,258 13,967 3,203
28 Loan 16 1 501 W 58th Avenue 13% No Fee NAP NAP NAP NAP 8,637 4,318 0 Springing
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio               16,216 1,802 8,090 2,697
29.01 Property   1 Eagle Trace MHC NAP No Fee NAP NAP NAP NAP        
29.02 Property   1 Edgewood MHC NAP No Fee NAP NAP NAP NAP        
30 Loan 17, 19 1 CT Self Storage - Pomona 13% No Leasehold 4/21/2057 None 288,000 No 53,234 7,605 0 Springing
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing
32 Loan 11, 19, 23 1 Walgreens - Johnson City NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing
33 Loan 11, 19, 23 1 Walgreens - Gallatin NAP Yes - AE Fee NAP NAP NAP NAP 0 Springing 0 Springing
34 Loan 17, 19 1 CT Self Storage - Escondido 15% No Leasehold 10/1/2048 None 79,707 No 46,491 6,642 0 Springing
35 Loan 11, 19 1 Dollar General - Orange City NAP No Fee NAP NAP NAP NAP 14,994 1,660 0 Springing
36 Loan 11, 19 1 Dollar General - DeLeon NAP No Fee NAP NAP NAP NAP 14,303 1,589 0 Springing
37 Loan 11, 19 1 Dollar General - Satsuma NAP No Fee NAP NAP NAP NAP 15,372 1,708 0 Springing

 

 A-1-10 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name  Upfront Replacement / PIP Reserve ($)  Monthly Replacement / FF&E Reserve ($) Replacement Reserve Caps ($)  Upfront TI/LC Reserve ($)  Monthly TI/LC Reserve ($) TI/LC Caps ($)  Upfront Debt Service Reserve ($)  Monthly Debt Service Reserve ($) Debt Service Reserve Cap ($)  Upfront Deferred Maintenance Reserve ($)  Upfront Other Reserve ($) Monthly Other Reserve ($)
          18 19 20 18 19 20 18 19 20 18 18 19
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 0 0 0 0 Springing 0 0 0 0 0 380,631 0
2 Loan 7, 10, 12, 23 1 900 North Michigan 0 18,705 831,350 5,000,000 166,667 10,000,000 0 0 0 0 13,552,345 Springing
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 0 Springing 0 0 Springing 0 0 0 0 0 9,788,217 0
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 0 3.0% of Gross Revenue 0 0 0 0 0 Springing 0 0 650,000 Springing
5 Loan 16, 23 1 Morrison Yard 0 2,558 122,807 0 20,833 0 0 0 0 0 4,623,709 0
6 Loan 7, 12, 23, 30 1 Dallas Market Center 1,000,000 Springing 1,000,000 1,500,000 Springing 1,500,000 0 0 0 0 431,802 0
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 0 Springing 0 0 0 0 0 0 0 0 0 Springing
8 Loan 2, 19 1 1900 Cardinal 0 Springing 0 0 Springing 0 0 0 0 0 0 Springing
9 Loan 5, 15, 19 1 Nashua Plaza 0 3,248 0 1,400,000 Springing 0 0 0 0 6,240 124,119 Springing
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  0 52,172 0 0 0 0 0 0 0 0 0 0
11 Loan 19 1 SpringHill Suites Savannah 0 33,074 0 0 0 0 0 0 0 22,000 2,193,856 Springing
12 Loan 4, 17, 19 1 Kenwood Pavilion 0 1,301 0 0 6,906 414,360 0 0 0 0 886,080 Springing
13 Loan 19 1 10 Quivira Plaza 0 5,059 0 250,000 7,644 450,000 0 0 0 0 85,597 0
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 0 1,083 0 0 0 0 252,274 0 0 6,250 232,224 0
15 Loan   1 Falcon & Mallard Heights Apartments 0 9,900 0 0 0 0 0 0 0 0 0 0
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 0 3,698 0 0 0 0 0 0 0 0 44,000 0
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 0 1,682 0 100,000 5,472 0 0 0 0 17,375 12,058 Springing
17.01 Property   1 Kenton Place                        
17.02 Property   1 Mint Hill Village                        
17.03 Property   1 Market Square II                        
17.04 Property   1 Charlotte Auto                        
18 Loan 16, 19 1 Homewood Suites South Las Vegas 0 21,758 0 0 0 0 0 0 0 0 3,600,000 Springing
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 0 833 0 0 0 0 0 0 0 0 250,000 0
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 0 3,147 0 0 0 0 0 0 0 0 36,000 0
21 Loan 19 1 Orange Blossom Center 0 4,404 0 0 Springing 0 0 0 0 272,750 333,606 0
22 Loan 16, 27 1 92 West 169th Street 0 792 0 0 0 0 0 0 0 0 0 0
23 Loan 27 1 Oakwood Square 0 2,045 100,000 300,000 Springing 300,000 0 0 0 0 283,504 Springing
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 0 2,248 0 0 0 0 0 0 0 0 29,000 0
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 0 2,683 0 0 0 0 0 0 0 0 31,000 0
26 Loan   1 CT Self Storage - Fullerton 0 0 0 0 0 0 0 0 0 0 0 0
27 Loan   1 Summerfield Apartments 0 2,292 0 0 0 0 0 0 0 91,438 0 0
28 Loan 16 1 501 W 58th Avenue 0 400 14,400 0 0 0 0 0 0 303,545 0 0
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 0 567 0 0 0 0 0 0 0 70,000 0 0
29.01 Property   1 Eagle Trace MHC                        
29.02 Property   1 Edgewood MHC                        
30 Loan 17, 19 1 CT Self Storage - Pomona 0 0 0 0 0 0 0 0 0 0 0 Springing
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah 0 0 0 0 0 0 0 0 0 0 0 0
32 Loan 11, 19, 23 1 Walgreens - Johnson City 0 0 0 0 0 0 0 0 0 0 0 0
33 Loan 11, 19, 23 1 Walgreens - Gallatin 0 0 0 0 0 0 0 0 0 0 0 0
34 Loan 17, 19 1 CT Self Storage - Escondido 0 0 0 0 0 0 0 0 0 0 0 Springing
35 Loan 11, 19 1 Dollar General - Orange City 0 0 0 0 0 0 0 0 0 0 0 0
36 Loan 11, 19 1 Dollar General - DeLeon 0 0 0 0 0 0 0 0 0 0 0 0
37 Loan 11, 19 1 Dollar General - Satsuma 0 0 0 0 0 0 0 0 0 0 0 0

 

 A-1-11 

 

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

 

 

 

Loan ID
Number
Loan /
Property Flag
Footnotes (for Loan and
Property Information)
# of
Properties
Property Name  Other Reserve Description 
           
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga Existing TI/LC Obligations Reserve
2 Loan 7, 10, 12, 23 1 900 North Michigan Unfunded Obligations Reserve (Upfront: $13,552,345.23), Critical Tenant Reserve (Monthly: Springing)
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Outstanding TI/LC Reserve ($8,393,631), Gap Rent Reserve ($1,394,586)
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Seasonal Working Capital Reserve (Upfront: $650,000, Monthly: Springing, Cap: $3,250,000), Custodial Funds and Hotel Tax Reserve (Monthly: Springing), Refundable Advance Payments Reserve (Monthly: Springing, Annual Cap: $75,000), PIP
Reserve (Monthly: Springing)
5 Loan 16, 23 1 Morrison Yard Unfunded Obligations Reserve
6 Loan 7, 12, 23, 30 1 Dallas Market Center Unfunded Obligations Reserve
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines Ground Rent Reserve
8 Loan 2, 19 1 1900 Cardinal Material Tenant Reserve
9 Loan 5, 15, 19 1 Nashua Plaza TATILC Funds (Upfront: $124,118.87), Material Tenant Funds Reserve (Monthly: Springing)
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel   
11 Loan 19 1 SpringHill Suites Savannah PIP Reserve
12 Loan 4, 17, 19 1 Kenwood Pavilion LA Fitness Gap Rent Reserve (Upfront: $850,200), Existing TI/LC Reserve (Upfront: $35,880), LA Fitness Reserve (Monthly: Springing; Cap: $1,000,000)
13 Loan 19 1 10 Quivira Plaza Rent Concession Reserve ($35,596.64), Existing TI/LC Reserve ($50,000)
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue Rent Reserve ($148,224), Commercial Rent Reserve ($84,000)
15 Loan   1 Falcon & Mallard Heights Apartments  
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave Static Insurance Reserve
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio Free Rent Reserve (Upfront: $12,057.99), Excess Cash Reserve (Monthly: Springing)
17.01 Property   1 Kenton Place  
17.02 Property   1 Mint Hill Village  
17.03 Property   1 Market Square II  
17.04 Property   1 Charlotte Auto  
18 Loan 16, 19 1 Homewood Suites South Las Vegas PIP Reserve
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates Ground Rent Reserve
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins Static Insurance Reserve
21 Loan 19 1 Orange Blossom Center Unfunded TI/LC Reserve ($123,420), Groundwater Monitoring Reserve ($75,000), Hibbett Litigation Reserve ($69,389.46), Rent Concession Reserve ($37,800), Hibbett Rent Credit Reserve ($22,083), HAFTR Judgment Reserve ($5,913.14)
22 Loan 16, 27 1 92 West 169th Street  
23 Loan 27 1 Oakwood Square Unfunded Obligations Reserve (Upfront: $283,504), Discount Drug Mart Account Reserve (Monthly: Springing)
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio Static Insurance Reserve
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio Static Insurance Reserve
26 Loan   1 CT Self Storage - Fullerton  
27 Loan   1 Summerfield Apartments  
28 Loan 16 1 501 W 58th Avenue  
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio  
29.01 Property   1 Eagle Trace MHC  
29.02 Property   1 Edgewood MHC  
30 Loan 17, 19 1 CT Self Storage - Pomona Ground Lease Reserve
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah  
32 Loan 11, 19, 23 1 Walgreens - Johnson City  
33 Loan 11, 19, 23 1 Walgreens - Gallatin  
34 Loan 17, 19 1 CT Self Storage - Escondido Ground Lease Reserve
35 Loan 11, 19 1 Dollar General - Orange City  
36 Loan 11, 19 1 Dollar General - DeLeon  
37 Loan 11, 19 1 Dollar General - Satsuma  

 

 A-1-12 

 

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

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Other Reserve Cap ($) Holdback/ Earnout Amount ($) Holdback/ Earnout Description Lockbox Type Cash Management Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)  Tenant Specific Excess Cash Trap Trigger (Y/N)  Pari Passu (Y/N)
          20     26        
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 0 NAP NAP Hard Springing Yes Yes Yes
2 Loan 7, 10, 12, 23 1 900 North Michigan 0 NAP NAP Hard Springing Yes Yes Yes
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 0 NAP NAP Hard Springing Yes No Yes
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Seasonal Working Capital Reserve ($3,250,000); Refundable Advance Payments Reserve (Annual: $75,000) NAP NAP Hard Springing Yes No Yes
5 Loan 16, 23 1 Morrison Yard 0 NAP NAP Hard Springing Yes No No
6 Loan 7, 12, 23, 30 1 Dallas Market Center 0 NAP NAP Hard In Place Yes No Yes
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 0 NAP NAP Soft Springing Yes No Yes
8 Loan 2, 19 1 1900 Cardinal 2,000,000 NAP NAP Hard Springing Yes Yes No
9 Loan 5, 15, 19 1 Nashua Plaza 0 NAP NAP Hard Springing Yes Yes No
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  0 NAP NAP Hard Springing Yes No No
11 Loan 19 1 SpringHill Suites Savannah 0 NAP NAP Springing Springing Yes No No
12 Loan 4, 17, 19 1 Kenwood Pavilion LA Fitness Reserve ($1,000,000) NAP NAP Hard Springing Yes Yes No
13 Loan 19 1 10 Quivira Plaza 0 NAP NAP Hard Springing Yes Yes No
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue 0 NAP NAP Springing Springing Yes No No
15 Loan   1 Falcon & Mallard Heights Apartments 0 NAP NAP  Springing Springing Yes No No
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave 0 NAP NAP Springing Springing Yes No No
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio 0 NAP NAP Springing Springing Yes No No
17.01 Property   1 Kenton Place                
17.02 Property   1 Mint Hill Village                
17.03 Property   1 Market Square II                
17.04 Property   1 Charlotte Auto                
18 Loan 16, 19 1 Homewood Suites South Las Vegas 0 NAP NAP Hard Springing Yes No No
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates 0 NAP NAP Springing Springing Yes No No
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins 0 NAP NAP Springing Springing Yes No No
21 Loan 19 1 Orange Blossom Center 0 NAP NAP Springing Springing Yes Yes No
22 Loan 16, 27 1 92 West 169th Street 0 NAP NAP Springing Springing Yes No No
23 Loan 27 1 Oakwood Square 0 NAP NAP Hard Springing Yes Yes No
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio 0 NAP NAP Springing Springing Yes No No
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio 0 NAP NAP Springing Springing Yes No No
26 Loan   1 CT Self Storage - Fullerton 0 NAP NAP Springing Springing No No No
27 Loan   1 Summerfield Apartments 0 NAP NAP Springing Springing Yes No No
28 Loan 16 1 501 W 58th Avenue 0 NAP NAP Hard Springing Yes Yes No
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio 0 NAP NAP Springing Springing Yes No No
29.01 Property   1 Eagle Trace MHC                
29.02 Property   1 Edgewood MHC                
30 Loan 17, 19 1 CT Self Storage - Pomona 0 NAP NAP Springing Springing No No No
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah 0 NAP NAP Hard In Place No Yes No
32 Loan 11, 19, 23 1 Walgreens - Johnson City 0 NAP NAP Hard In Place No Yes No
33 Loan 11, 19, 23 1 Walgreens - Gallatin 0 NAP NAP Hard In Place No Yes No
34 Loan 17, 19 1 CT Self Storage - Escondido 0 NAP NAP Springing Springing No No No
35 Loan 11, 19 1 Dollar General - Orange City 0 NAP NAP Hard In Place No Yes No
36 Loan 11, 19 1 Dollar General - DeLeon 0 NAP NAP Hard In Place No Yes No
37 Loan 11, 19 1 Dollar General - Satsuma 0 NAP NAP Hard In Place No Yes No

 

 A-1-13 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Pari Passu in Trust Controlling (Y/N) Trust Pari Passu Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Subordinate Companion Loan Cut-off Date Balance ($) Subordinate Companion Loan Interest Rate Whole Loan Cut-off Date Balance ($) Whole Loan Monthly Debt Service ($) Whole Loan Cut-off Date LTV Ratio (%)
                9 9       9  
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga No 80,000,000.00 187,610,000.00 924,622.64 1,318,896.99         162,390,000 6.68009948845372% 430,000,000 2,235,436.79 55.4%
2 Loan 7, 10, 12, 23 1 900 North Michigan Yes 80,000,000.00 100,000,000.00 579,015.04 1,042,227.08  NAP  NAP 180,000,000 1,042,227.08 57.1%
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Yes 78,000,000.00 282,000,000.00 1,417,193.61 1,809,183.33  NAP  NAP 360,000,000 1,809,183.33 47.8%
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Yes 70,000,000.00 55,000,000.00 257,907.98 586,154.51  NAP  NAP 125,000,000 586,154.51 39.2%
5 Loan 16, 23 1 Morrison Yard NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
6 Loan 7, 12, 23, 30 1 Dallas Market Center No 50,000,000.00 187,000,000.00 1,027,300.95 1,301,980.35  NAP  NAP 237,000,000.00 1,301,980.35 37.2%
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines No 45,000,000.00 65,000,000.00 367,243.23 621,488.54  NAP  NAP 110,000,000.00 621,488.54 66.5%
8 Loan 2, 19 1 1900 Cardinal NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
9 Loan 5, 15, 19 1 Nashua Plaza NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
11 Loan 19 1 SpringHill Suites Savannah NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
12 Loan 4, 17, 19 1 Kenwood Pavilion NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
13 Loan 19 1 10 Quivira Plaza NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
15 Loan   1 Falcon & Mallard Heights Apartments NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
17.01 Property   1 Kenton Place                           
17.02 Property   1 Mint Hill Village                           
17.03 Property   1 Market Square II                           
17.04 Property   1 Charlotte Auto                           
18 Loan 16, 19 1 Homewood Suites South Las Vegas NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
21 Loan 19 1 Orange Blossom Center NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
22 Loan 16, 27 1 92 West 169th Street NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
23 Loan 27 1 Oakwood Square NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
26 Loan   1 CT Self Storage - Fullerton NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
27 Loan   1 Summerfield Apartments NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
28 Loan 16 1 501 W 58th Avenue NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
29.01 Property   1 Eagle Trace MHC                           
29.02 Property   1 Edgewood MHC                           
30 Loan 17, 19 1 CT Self Storage - Pomona NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
34 Loan 17, 19 1 CT Self Storage - Escondido NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
35 Loan 11, 19 1 Dollar General - Orange City NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
36 Loan 11, 19 1 Dollar General - DeLeon NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP
37 Loan 11, 19 1 Dollar General - Satsuma NAP  NAP   NAP   NAP   NAP   NAP  NAP  NAP   NAP  NAP

 

 A-1-14 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Whole Loan Underwritten NCF DSCR (x) Whole Loan Underwritten NOI Debt Yield (%) Mezzanine Debt Cut-off Date Balance($) Mezzanine Debt Interest Rate (%) Total Debt Cut-off Date Balance ($) Total Debt Monthly Debt Service ($) Total Debt Cut-off Date LTV Ratio (%) Total Debt Underwritten NCF DSCR (x) Total Debt Underwritten NOI Debt Yield (%) Future Additional Debt Permitted (Y/N) Future Debt Permitted Type
          14         9   14   13 13
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga 1.61 10.1%  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
2 Loan 7, 10, 12, 23 1 900 North Michigan 1.77 12.6%  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center 2.09 13.3%  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa 3.76 24.2%  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
5 Loan 16, 23 1 Morrison Yard NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
6 Loan 7, 12, 23, 30 1 Dallas Market Center 2.46 17.0%  NAP  NAP  NAP   NAP  NAP NAP NAP Yes Unsecured
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines 2.16 17.0%  NAP  NAP  NAP   NAP  NAP NAP NAP Yes Future Mezzanine Loan
8 Loan 2, 19 1 1900 Cardinal NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
9 Loan 5, 15, 19 1 Nashua Plaza NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
11 Loan 19 1 SpringHill Suites Savannah NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
12 Loan 4, 17, 19 1 Kenwood Pavilion NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
13 Loan 19 1 10 Quivira Plaza NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
15 Loan   1 Falcon & Mallard Heights Apartments NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
17.01 Property   1 Kenton Place                         
17.02 Property   1 Mint Hill Village                         
17.03 Property   1 Market Square II                         
17.04 Property   1 Charlotte Auto                         
18 Loan 16, 19 1 Homewood Suites South Las Vegas NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
21 Loan 19 1 Orange Blossom Center NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
22 Loan 16, 27 1 92 West 169th Street NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
23 Loan 27 1 Oakwood Square NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
26 Loan   1 CT Self Storage - Fullerton NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
27 Loan   1 Summerfield Apartments NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
28 Loan 16 1 501 W 58th Avenue NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
29.01 Property   1 Eagle Trace MHC                         
29.02 Property   1 Edgewood MHC                         
30 Loan 17, 19 1 CT Self Storage - Pomona NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
34 Loan 17, 19 1 CT Self Storage - Escondido NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
35 Loan 11, 19 1 Dollar General - Orange City NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
36 Loan 11, 19 1 Dollar General - DeLeon NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP
37 Loan 11, 19 1 Dollar General - Satsuma NAP NAP  NAP  NAP  NAP   NAP  NAP NAP NAP No NAP

 

 A-1-15 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Sponsor Non-Recourse Carveout Guarantor Delaware Statutory Trust
(Y/N)
Tenants-in-common
(Y/N)
            24    
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga BDP Realty Holdings, L.P. NAP No No
2 Loan 7, 10, 12, 23 1 900 North Michigan JMB Realty Corporation JMB Realty Corporation No No
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Simon Property Group, L.P. Simon Property Group, L.P. No No
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Grossman Company Properties, Inc. Southwest Recourse III, LLC No No
5 Loan 16, 23 1 Morrison Yard Graeme M. Keith, Jr., Kenneth R. Beuley, R. Alan Lewis, Graeme M. Keith, II and Keith Real Estate Associates, LLC Graeme M. Keith, Jr., Kenneth R. Beuley, R. Alan Lewis and Graeme M. Keith, III No No
6 Loan 7, 12, 23, 30 1 Dallas Market Center Dallas Market Center Financial, L.L.C. Dallas Market Center Financial, L.L.C. No No
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines JRK Property Holdings, Inc. JRK Hospitality Fund 1, L.P. No No
8 Loan 2, 19 1 1900 Cardinal Dennis W. Townsend Dennis W. Townsend No No
9 Loan 5, 15, 19 1 Nashua Plaza Edward C. Gordon  Edward C. Gordon No No
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  Carey Tajfel Carey Tajfel No No
11 Loan 19 1 SpringHill Suites Savannah Chatham Lodging Trust Chatham Lodging, L.P. No No
12 Loan 4, 17, 19 1 Kenwood Pavilion Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 No Yes
13 Loan 19 1 10 Quivira Plaza Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 No No
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue Boris Babakhanov and Aleksandr Gilkarov Boris Babakhanov and Aleksandr Gilkarov No No
15 Loan   1 Falcon & Mallard Heights Apartments Matthew B. Lester Matthew B. Lester No No
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave Youssef Berrada Youssef Berrada No No
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio Christopher Couchell Christopher Couchell No No
17.01 Property   1 Kenton Place        
17.02 Property   1 Mint Hill Village        
17.03 Property   1 Market Square II        
17.04 Property   1 Charlotte Auto        
18 Loan 16, 19 1 Homewood Suites South Las Vegas Joseph C. Knudson Joseph C. Knudson No No
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates Michael H. Scott, Lee M. Kort and Sierra Corporate Management, Inc. Michael H. Scott, Lee M. Kort and The Michael H. Scott Revocable Trust Dated August 15, 2007 No No
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins Youssef Berrada Youssef Berrada No No
21 Loan 19 1 Orange Blossom Center Mark Rubin Mark Rubin No Yes
22 Loan 16, 27 1 92 West 169th Street Israel Frankel Israel Frankel No No
23 Loan 27 1 Oakwood Square F. Brock Walter, Jr., Harry W. Giltz II, Harry W. Giltz III and Grant W. Giltz F. Brock Walter, Jr., Harry W. Giltz II, Harry W. Giltz III and Grant W. Giltz No No
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio Youssef Berrada Youssef Berrada No No
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio Youssef Berrada Youssef Berrada No No
26 Loan   1 CT Self Storage - Fullerton CT Self-Storage Fund II, LLC CT Self-Storage Fund II, LLC No No
27 Loan   1 Summerfield Apartments Gary W. Gates, Jr. Gary W. Gates, Jr. No No
28 Loan 16 1 501 W 58th Avenue TEI LLC TEI LLC No Yes
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio Harsheel Shah Harsheel Shah No No
29.01 Property   1 Eagle Trace MHC        
29.02 Property   1 Edgewood MHC        
30 Loan 17, 19 1 CT Self Storage - Pomona CT Self-Storage Fund II, LLC CT Self-Storage Fund II, LLC No No
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No
32 Loan 11, 19, 23 1 Walgreens - Johnson City Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No
33 Loan 11, 19, 23 1 Walgreens - Gallatin Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No
34 Loan 17, 19 1 CT Self Storage - Escondido CT Self-Storage Fund II, LLC CT Self-Storage Fund II, LLC No No
35 Loan 11, 19 1 Dollar General - Orange City Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No
36 Loan 11, 19 1 Dollar General - DeLeon Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No
37 Loan 11, 19 1 Dollar General - Satsuma Ladder Capital CRE Equity LLC Ladder Capital CRE Equity LLC No No

 

 A-1-16 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Loan Purpose Property Located Within a Qualified Opportunity Zone (Y/N) Sources: Loan Amount ($) Sources: Principal's New Cash Contribution ($) Sources: Subordinate Debt ($) Sources: Other Sources ($) Sources: Total Sources ($) Uses: Loan Payoff ($) Uses: Purchase Price ($) Uses: Closing Costs ($) Uses: Reserves ($) Uses: Principal Equity Distribution ($) Uses: Other Uses ($)
            29                      
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga Refinance No     267,610,000 0 162,390,000 0     430,000,000 308,927,624 0        2,873,539 380,631 117,818,206 0
2 Loan 7, 10, 12, 23 1 900 North Michigan Refinance No     180,000,000 56,362,388 0 0     236,362,388 206,807,744 0        8,416,086 21,138,557 0 0
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center Refinance No     360,000,000 5,611,283 0 0     365,611,283 351,117,405 0        4,705,660 9,788,217 0 0
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa Refinance No     125,000,000 0 0 0     125,000,000 110,983,664 0        2,074,466 650,000 11,291,870 0
5 Loan 16, 23 1 Morrison Yard Refinance No       52,500,000 0 0 0       52,500,000 39,056,677 0           773,290 4,967,878 7,702,155 0
6 Loan 7, 12, 23, 30 1 Dallas Market Center Refinance No     237,000,000 2,270,000 0 0     239,270,000 231,913,303 0        3,160,187 4,196,510 0 0
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines Acquisition No     110,000,000 59,441,997 0 0     169,441,997 0 165,000,000        4,441,997 0 0 0
8 Loan 2, 19 1 1900 Cardinal Refinance No       35,000,000 0 0 0       35,000,000 32,523,915 0           317,445 0 2,158,640 0
9 Loan 5, 15, 19 1 Nashua Plaza Refinance No       32,500,000 5,364,299 0 0       37,864,299 35,566,478 0           456,158 1,841,663 0 0
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel  Refinance No       28,500,000 0 0 0       28,500,000 16,791,827 0           742,664 248,124 10,717,385 0
11 Loan 19 1 SpringHill Suites Savannah Refinance No       22,000,000 8,298,859 0 0       30,298,859 27,713,758 0           280,183 2,304,918 0 0
12 Loan 4, 17, 19 1 Kenwood Pavilion Refinance No       19,500,000 3,372,241 0 0       22,872,241 21,470,290 0           421,902 980,049 0 0
13 Loan 19 1 10 Quivira Plaza Refinance No       18,000,000 0 0 0       18,000,000 16,201,529 0           625,316 536,343 636,811 0
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue Refinance No       15,500,000 0 0 0       15,500,000 11,268,032 0           573,281 501,411 3,157,277 0
15 Loan   1 Falcon & Mallard Heights Apartments Refinance No       14,200,000 309,333 0 0       14,509,333 14,053,387 0           289,099 166,847 0 0
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave Refinance No                         
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio Refinance                           
17.01 Property   1 Kenton Place   No                         
17.02 Property   1 Mint Hill Village   No                         
17.03 Property   1 Market Square II   No                         
17.04 Property   1 Charlotte Auto   No                         
18 Loan 16, 19 1 Homewood Suites South Las Vegas Refinance No                         
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates Refinance No                         
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins Refinance No                         
21 Loan 19 1 Orange Blossom Center Refinance No                         
22 Loan 16, 27 1 92 West 169th Street Refinance No                         
23 Loan 27 1 Oakwood Square Refinance No                         
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio Refinance No                         
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio Refinance No                         
26 Loan   1 CT Self Storage - Fullerton Refinance No                         
27 Loan   1 Summerfield Apartments Refinance No                         
28 Loan 16 1 501 W 58th Avenue Acquisition No                         
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio Acquisition                           
29.01 Property   1 Eagle Trace MHC   No                         
29.02 Property   1 Edgewood MHC   No                         
30 Loan 17, 19 1 CT Self Storage - Pomona Refinance No                         
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah Refinance No                         
32 Loan 11, 19, 23 1 Walgreens - Johnson City Refinance No                         
33 Loan 11, 19, 23 1 Walgreens - Gallatin Refinance No                         
34 Loan 17, 19 1 CT Self Storage - Escondido Refinance No                         
35 Loan 11, 19 1 Dollar General - Orange City Refinance No                         
36 Loan 11, 19 1 Dollar General - DeLeon Refinance No                         
37 Loan 11, 19 1 Dollar General - Satsuma Refinance No                         

 

 A-1-17 

 

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

 

 

 

Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name Uses: Total Uses ($) Franchise Agreement Expiration Underwritten ADR ($) Underwritten RevPAR ($) Underwritten Hotel Occupancy (%) Most Recent ADR ($) Most Recent RevPAR ($) Most Recent Hotel Occupancy (%) Second Most Recent ADR ($) Second Most Recent RevPAR ($) Second Most Recent Hotel Occupancy (%) Third Most Recent ADR ($) Third Most Recent RevPAR ($) Third Most Recent Hotel Occupancy (%)
                                     
1 Loan 7, 12, 16, 23 1 Bridge Point Rancho Cucamonga                   430,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2 Loan 7, 10, 12, 23 1 900 North Michigan                   236,362,388 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3 Loan 1, 7, 12, 17, 19, 24, 30 1 St. Johns Town Center                   365,611,283 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
4 Loan 1, 2, 7, 12, 17, 18, 19, 30 1 Arizona Grand Resort and Spa                   125,000,000 NAP 219.51 138.72 63.2% 219.51 138.72 63.2% 229.41 141.85 61.8% 230.70 147.44 63.9%
5 Loan 16, 23 1 Morrison Yard                     52,500,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6 Loan 7, 12, 23, 30 1 Dallas Market Center                   239,270,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
7 Loan 1, 7, 10, 12, 13, 17, 19 1 Hilton La Jolla Torrey Pines                   169,441,997 12/31/2033 259.00 204.29 78.9% 255.45 201.50 78.9% 253.71 199.82 78.8% 250.95 193.87 77.3%
8 Loan 2, 19 1 1900 Cardinal                     35,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
9 Loan 5, 15, 19 1 Nashua Plaza                     37,864,299 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
10 Loan 10, 19, 26 1 Sheraton Eatontown Hotel                      28,500,000 3/22/2037 197.86 115.64 58.5% 197.86 115.64 58.5% 197.68 117.23 59.3% 184.14 89.49 48.6%
11 Loan 19 1 SpringHill Suites Savannah                     30,298,859 12/5/2033 180.45 144.47 80.1% 180.45 144.47 80.1% 181.91 149.85 82.4% 179.10 144.09 80.5%
12 Loan 4, 17, 19 1 Kenwood Pavilion                     22,872,241 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13 Loan 19 1 10 Quivira Plaza                     18,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14 Loan 4, 14, 16, 27, 28 1 2067 Anthony Avenue                     15,500,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
15 Loan   1 Falcon & Mallard Heights Apartments                     14,509,333 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16 Loan 5, 10, 19, 26, 30 1 Mill Road & Melvin Ave    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17 Loan 2, 6, 19, 23 4 North Carolina Cornerstone Portfolio    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.01 Property   1 Kenton Place    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.02 Property   1 Mint Hill Village    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.03 Property   1 Market Square II    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.04 Property   1 Charlotte Auto    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
18 Loan 16, 19 1 Homewood Suites South Las Vegas    4/30/2040 169.22 119.51 70.6% 169.22 119.51 70.6% 171.16 108.14 70.1% 152.37 108.14 70.7%
19 Loan 3, 4, 17, 30 1 Rio Vista Mobile Estates    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20 Loan 5, 10, 19, 26, 30 1 Sherman & Hopkins    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
21 Loan 19 1 Orange Blossom Center    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
22 Loan 16, 27 1 92 West 169th Street    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
23 Loan 27 1 Oakwood Square    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24 Loan 5, 10, 19, 26, 30 1 Valhalla Portfolio    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25 Loan 5, 10, 19, 26, 30 1 84th Street Portfolio    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
26 Loan   1 CT Self Storage - Fullerton    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
27 Loan   1 Summerfield Apartments    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28 Loan 16 1 501 W 58th Avenue    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29 Loan 6, 28 2 Eagle Trace and Edgewood MHC Portfolio    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.01 Property   1 Eagle Trace MHC    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.02 Property   1 Edgewood MHC    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
30 Loan 17, 19 1 CT Self Storage - Pomona    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31 Loan 11, 19, 23 1 Walgreens  - Ooltewah    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32 Loan 11, 19, 23 1 Walgreens - Johnson City    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
33 Loan 11, 19, 23 1 Walgreens - Gallatin    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
34 Loan 17, 19 1 CT Self Storage - Escondido    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
35 Loan 11, 19 1 Dollar General - Orange City    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
36 Loan 11, 19 1 Dollar General - DeLeon    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
37 Loan 11, 19 1 Dollar General - Satsuma    NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP

 

 A-1-18 

 

Footnotes to Annex A-1

 

(1) “Barclays” denotes Barclays Capital Real Estate Inc. as Mortgage Loan Seller, “WFB” denotes Wells Fargo Bank, National Association as Mortgage Loan Seller, “SGFC” denotes Societe Generale Financial Corporation as Mortgage Loan Seller, “BSPRT” denotes BSPRT CMBS Finance, LLC as Mortgage Loan Seller, “LCF” denotes Ladder Capital Finance, LLC as Mortgage Loan Seller, “ZBNA” denotes Zions Bancorporation, N.A. as Mortgage Loan Seller, “SMC” denotes Starwood Mortgage Capital LLC as Mortgage Loan Seller, “GACC” denotes German American Capital Corporation as Mortgage Loan Seller, “GSMC” denotes Goldman Sachs Mortgage Company as Mortgage Loan Seller and “UBS AG” denotes UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York as Mortgage Loan Seller.

With respect to Loan No. 3, St. Johns Town Center, the mortgage loan is part of a whole loan that was co-originated by Barclays, Goldman Sachs Bank USA, JPMorgan Chase Bank, National Association and SGFC.

With respect to Loan No. 4, Arizona Grand Resort and Spa, the mortgage loan is part of a whole loan that was co-originated by GACC, Goldman Sachs Bank USA and Wells Fargo Bank, National Association.

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the mortgage loan is part of a whole loan that was co-originated by Morgan Stanley Bank, N.A. and Barclays.
   
(2) With respect to Loan No. 4, Arizona Grand Resort and Spa, the mortgaged property includes 744 rooms, of which 643 rooms are resort suites that are collateral for the mortgage loan; the additional 101 rentable guestrooms (the “Villa Rental Pool Rooms”) are located in 51 luxury villas that are owned by third parties as condominiums and are not collateral for the mortgage loan. The owners of the Villa Rental Pool Rooms participate in a rental pool program pursuant to which the borrower rents the Villa Rental Pool Rooms as hotel rooms and receives management fees in connection with such rental. The rental pool agreements and related documents have been collaterally assigned to the lender and are collateral for the mortgage loan. Per Unit calculations are based on 744 rooms.

With respect to Loan No. 8, 1900 Cardinal, the mortgaged property is comprised of 1,118,220 square feet of warehouse/distribution space and a 10,080 square foot service garage.

With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Kenton Place, the mortgaged property consists of 23 residential units and 38,299 square feet of retail and office space. The residential units are 100.0% occupied and the retail and office space are 98.3% occupied as of July 15, 2024.
   
(3) Certain of the mortgage loans include parcels ground leased to tenants in the calculation of the total square footage and the occupancy of the mortgaged property.

With respect to Loan No. 19, Rio Vista Mobile Estates, the mortgaged property consists of 200 manufactured housing pads, three of which are leased to employees. Of the occupied units, there are 151 tenants on long-term leases with a minimum term of 15 years and 46 tenants are leasing on a month-to-month basis.
   
(4) In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but that have not yet commenced paying rent and/or are not in occupancy.

For tenants that are one of the top five tenants (by net rentable area leased) for the 15 largest mortgage loans, certain of such tenants have not taken possession or commenced paying rent or sublease a material portion of their property. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in the preliminary prospectus.

With respect to Loan No. 12, Kenwood Pavilion, the Largest Tenant, LA Fitness, has signed its lease amendment and extension and has already commenced paying rent, however, its location is currently closed for renovations. While the lender cannot provide assurances as to the exact timing of the tenant opening to the public, eight months of gap rent totaling $850,200 were escrowed upfront in connection with the origination of the mortgage loan. The borrower has a $1,000,000 recourse liability to the lender until the borrower provides evidence to the lender that LA Fitness is open for business and paying unabated rent under its lease at the Mortgaged Property.

With respect to Loan No. 14, 2067 Anthony Avenue, the presented units and occupancy figures represent the 52 multifamily units at the mortgaged property and excludes the one ground floor commercial unit. The commercial unit is leased to Luna Daycare Center Corp., which has taken possession of its space and is paying rent but is not yet open for business. At origination of the mortgage loan, the borrower deposited $84,000 into a commercial rent

 

 A-1-19 

 

 

  reserve for the related space. Additionally, the borrower sponsors entered into a master lease with the borrower for the related commercial space until such time that Luna Daycare Center Corp. is in occupancy, open for business and paying rent.

With respect to Loan No. 19, Rio Vista Mobile Estates, according to the June 1, 2024 rent roll, two units are underwritten as vacant due to known move outs expected to occur in June 2024 and one unit is underwritten as vacant due to it being dealer occupied under a storage agreement. The occupancy, exclusive of these three tenants, is 100%.
   
(5) With respect to all mortgage loans, with the exceptions of the mortgage loans identified in “Description of the Mortgage Pool—Definitions” in the preliminary prospectus, the Cut-off Date LTV Ratio (%) and the LTV Ratio at Maturity / ARD (%) are based on the Appraised Value ($) even though, for certain mortgage loans, the appraisal provided “as-stabilized” values based on certain criteria being met.

With respect to Loan No. 9, Nashua Plaza, the Appraised Value ($) of $48,330,000 as of August 15, 2023 includes $330,000 for excess land that is part of the collateral for the mortgage loan.

With respect to Loan No. 16, Mill Road & Melvin Ave, the Appraised Value of $25,300,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 30, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $25,400,000 due to rounding.

With respect to Loan No. 20, Sherman & Hopkins, the Appraised Value of $21,000,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 12, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $21,200,000 due to rounding.

With respect to Loan No. 24, Valhalla Portfolio, the Appraised Value of $17,000,000 represents the aggregate as-is portfolio value of the mortgaged properties as of June 10, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $17,100,000 due to rounding.

With respect to Loan No. 25, 84th Street Portfolio, the Appraised Value of $16,200,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 12, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $16,300,000 due to rounding.
   
(6) For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Cut-off Date Balance ($) and Maturity/ARD Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation.
● Loan No. 17, North Carolina Cornerstone Portfolio
● Loan No. 29, Eagle Trace and Edgewood MHC Portfolio
   
(7) The Original Balance ($), Cut-off Date Balance ($), and Maturity/ARD Balance ($) represent only the mortgage loan included in the issuing entity. The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan per Unit ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate but exclude any subordinate companion loan(s). For more information regarding the mortgage loans secured by the mortgaged properties identified under the column heading in this Annex A-1, see the charts titled “Whole Loan Summary” and “Whole Loan Control Notes and Non-Control Notes” in “Description of the Mortgage Pool—The Whole Loans” in the preliminary prospectus.
● Loan No. 1, Bridge Point Rancho Cucamonga
● Loan No. 2, 900 North Michigan
● Loan No. 3, St. Johns Town Center
● Loan No. 4, Arizona Grand Resort and Spa
● Loan No. 6, Dallas Market Center
● Loan No. 7, Hilton La Jolla Torrey Pines

 

 A-1-20 

 

 

(8) The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.
   
(9) For the mortgage loans with an interest-only period that accrues interest on an Actual/360 basis, the Monthly Debt Service (IO) ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate (%) and (iii) 365/360.
   
(10) With respect to Loan No. 2, 900 North Michigan, a Grace Period - Late Fee (Days) of five days is permitted once during any 12-month period. This does not apply to principal payment at maturity

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date.

With respect to Lona No. 10, Sheraton Eatontown Hotel, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date.

With respect to Loan No. 16, Mill Road & Melvin Ave, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date.

With respect to Loan No. 20, Sherman & Hopkins, a Grace Period – Default (Days) of five does not apply to the amount due on the maturity date.

With respect to Loan No. 24, Valhalla Portfolio, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date.

With respect to Loan No. 25, 84th Street Portfolio, a Grace Period – Default (Days) of five does not apply to the amount due on the maturity date.
   
(11) With respect to Loan No. 31, Walgreens - Ooltewah, the mortgage loan is structured with an anticipated repayment date of August 6, 2034 (the “ARD”), and a final maturity of January 6, 2037.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%.

With respect to Loan No. 32, Walgreens - Johnson City, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of October 6, 2037.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%.

With respect to Loan No. 33, Walgreens - Gallatin, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of October 6, 2037.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%.

With respect to Loan No. 35, Dollar General – Orange City, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of April 6, 2037.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%.

With respect to Loan No. 36, Dollar General - DeLeon, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of January 6, 2037.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%.

With respect to Loan No. 37, Dollar General - Satsuma, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of November 6, 2036.  From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. 
   
(12) The “L” component of the prepayment provision represents lockout payments.

The “D” 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.

 

 A-1-21 

 

 

  Certain mortgage loans permit the release of a portion of a mortgaged property (or an individual mortgaged property, in connection with a portfolio mortgage loan) under various circumstances, as described in the preliminary prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Releases; Partial Releases” in the preliminary prospectus.

With respect to Loan No. 1, Bridge Point Rancho Cucamonga, defeasance is permitted at any time 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 11, 2027. The assumed defeasance lockout period of 25 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual defeasance lockout period may be longer.

With respect to Loan No. 2, 900 North Michigan, the lockout period will be at least 24 payment dates beginning with and including the first payment date in September 2024. Defeasance of the 900 North Michigan Whole Loan in whole, but not in part, 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) July 22, 2027. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer.

With respect to Loan No. 3, St. Johns Town Center, the whole loan may be (a) defeased 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 (the “REMIC Prohibition Period”) and (ii) June 1, 2027 (the “Permitted Release Date”), or (b) prepaid in whole (but not in part) with the payment of an amount equal to the greater of (i) 1% of the prepaid amount and (ii) the yield maintenance basis, if the Permitted Release Date has occurred but the REMIC Prohibition Period has not occurred, provided that any portion of the St. Johns Town Center Whole Loan that has been securitized, as of such projected prepayment date, for a period of more than two years from the closing date of the REMIC trust that holds such securitized portion of the St. Johns Town Center Whole Loan is contemporaneously defeased. The assumed defeasance lockout period of 26 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer.

Additionally, in the event that a lockbox event period has occurred due to the debt yield being less than 10.0% for two consecutive calendar quarters, the borrowers may (a) prepay a portion of the St. Johns Town Center Whole Loan such that  the debt yield is no less than 10.0% or (b) deliver to the lenders cash, United States obligations, other securities having a rating reasonably acceptable to the lenders and for which a rating agency confirmation has been received or a letter of credit, in each case, in an amount which, if applied to the repayment of the St. Johns Town Center Whole Loan would result in a debt yield equal to 10.0%.
   
  With respect to Loan No. 4, Arizona Grand Resort and Spa, the lockout period will be at least 24 payments beginning with and including the first payment date of September 6, 2024. Defeasance of the Arizona Grand Resort and Spa Whole Loan in whole, but not in part, 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) July 26, 2027. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization trust in August 2024. The actual lockout period may be longer.

With respect to Loan No. 6, Dallas Market Center, the lockout period will be at least 24 payment dates beginning with and including the first payment date in July 2024. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer.

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the lockout period will be at least 24 months beginning with and including the first payment date on September 1, 2024. Defeasance of the Hilton La Jolla Torrey Pines Whole Loan is permitted after the date that is the earlier to occur of (i) two years from the closing date of the securitization that includes the last pari passu note to be securitized and (ii) September 1, 2027. The assumed lockout period of 24 payment dates is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer. 
   
(13) Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Indebtedness—Mezzanine Indebtedness,” “—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.

 

 A-1-22 

 

 

  With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the related mortgaged loan documents permit future mezzanine debt and/or preferred equity investments (each, a “Mezzanine Loan”) at any time after the earlier to occur of (x) the third anniversary of the first monthly payment date and (y) the date that is two years after the closing date of the securitization that includes the last note of the whole loan to be securitized, provided that, among other conditions (i) no event of default has occurred and is continuing, (ii) the combined debt yield, calculated assuming the Mezzanine Loan has been fully-funded, will be equal to or greater than 14.6%, in each instance as determined by the lender, which determination will be conclusive and binding on the borrower absent manifest error and (iii) the lender will have received one or more fully-executed intercreditor agreements, recognition agreements or any similar agreement by and between the lender and any such mezzanine lender, which is required to be in form and substance reasonably acceptable to the lender.
   
(14) The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) for all partial interest-only mortgage loans were calculated based on the first 12 principal and interest payments after the Origination Date during the term of the mortgage loan.

With respect to Loan No. 14, 2067 Anthony Avenue, the Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%) and Underwritten NCF Debt Yield (%), which equal 1.87x, 1.85x, 11.5% and 11.4%, respectively, assume a stabilized underwritten economic vacancy of 3.1%, giving credit to rent payments due under four unleased units that are currently subject to a master lease, versus an economic vacancy of 9.2%, which assumes actual residential economic vacancy of 9.6% and a 5.0% commercial economic vacancy. Assuming the in-place economic vacancy, the Underwritten NOI DSCR (x), the Underwritten NCF DSCR (x), the Underwritten NOI Debt Yield (%) and the Underwritten NCF Debt Yield (%) would be 1.73x, 1.72x, 10.6% and 10.6%, respectively. The mortgage loan was structured to include a $148,224 rent reserve to be released to the borrower, upon the satisfaction of certain conditions, including, but not limited to, (i) no event of default under the mortgage loan then exists, (ii) the borrower has provided a certified rent roll with 98.0% occupancy, (iii) the borrower has provided the executed leases for four unleased units and (iv) the DSCR, based on trailing one-month income, annualized less underwritten expenses is greater than or equal to 1.60x.
   
(15) In certain cases, Underwritten TI / LC ($) is inclusive of certain credits for upfront reserves taken at closing.

With respect to Loan No. 9, Nashua Plaza, a $140,000 credit for the $1,400,000 tenant improvement and leasing commissions escrow was underwritten on the mortgage loan. The $1,400,000 initial deposit was placed into a reserve and disbursements can be made for tenant improvements and leasing commissions.
   
(16) With respect to some mortgage loans, historical financial information may not be available as a result of acquisition financing and/or recent construction.

With respect to Loan No. 1, Bridge Point Rancho Cucamonga, historical financial information is not available as the mortgaged property was built and completed lease up in 2024.

With respect to Loan No. 5, Morrison Yard, historical financial information is not available as the mortgaged property was built in 2023.

With respect to Loan No. 14, 2067 Anthony Avenue, historical financial information is not available as the mortgaged property was built in 2024.

With respect to Loan No. 18, Homewood Suites South Las Vegas, Fourth Most Recent cash flows are not available as it was not required to be provided in connection with origination of the mortgage loan.

With respect to Loan No. 22, 92 West 169th Street, historical financial information is not available as the mortgaged property was built in 2024.

With respect to Loan No. 28, 501 W 58th Avenue, historical financial information is not available due to the tenant occupying on a triple net lease.
   
(17) With respect to Loan No. 3, St. Johns Town Center, the mortgaged property is subject to two long-term ground leases covering the phase 1 and phase 2 parcels comprising the mortgaged property. Each ground lease is between an affiliate of the respective borrower, St. Johns Town Center, LLC (“Fee Owner”), as fee owner, and such borrower, as tenant. The mortgage loan is secured by each borrower’s respective leasehold interest in the mortgaged property, as well the Fee Owner’s interest in the entire mortgaged property.

 

 A-1-23 

 

 

  With respect to Loan No. 4, Arizona Grand Resort and Spa, a portion of the golf course at the mortgaged property (approximately six holes at the golf course) is ground leased from the City of Phoenix, pursuant to a ground lease with an annual rent payment of $100 and an expiration date of July 30, 2057, with no further extension options.

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the mortgaged property is subject to a ground lease between the City of San Diego, as ground lessor, and JRK Torrey Pines Hotel Owner LLC, as ground lessee. The borrower entered into the ground lease on August 10, 1987, which expires on June 30, 2067, and has one, 10-year or one, 20-year extension option remaining. The annual minimum ground rent is $3,887,227.48 and is subject to an additional percentage rent, which will be adjusted every 10 years. The percentage rent is a calculation based on the percentage rent of (i) room rentals at 8.0% of revenues, (ii) food and non-alcoholic beverages at 5.0% of revenues, (iii) alcoholic beverages at 8.0% of revenues, (iv) lobby and gift shop revenue at 10.0% of revenues, (v) coin-operated machines at 10.0% of revenues, (vi) commissions from coin-operated telephones at 50.0% of revenues and (vii) all other uses at 15.0% of revenues. The ground lease is also subject to a minimum ground rent adjustment every five years, with the next scheduled adjustment on July 1, 2027. The minimum ground rent adjustment is based upon 80% of the annual average of actual ground rents paid or accrued for the five years preceding the adjustment date.

With respect to Loan No. 12, Kenwood Pavilion, the Second Largest Tenant, Cooper's Hawk Winery & Restaurant, occupies its space pursuant to a ground lease and owns its own improvements.

With respect to Loan No. 19, Rio Vista Mobile Estates, ground rent is equal to the greater of (a) $80,000 per year and (b) 50% of gross income for each lease year. Following the period commencing May 1, 2015, through April 30, 2028, the percentage of gross income payable as ground rent will increase by 1%, and will continue to increase in 1% increments every five years until the lease expires on April 30, 2045. Based on the lender’s underwriting, underwritten ground rent equates to $2,885,130, which is based on approximately 50.7% of the sum of total rent collections, other income, and expense recoveries net of utility expenses (excluding a 15% deduction in expenses for common area utilities).
   
  With respect to Loan No. 30, CT Self-Storage - Pomona, the mortgaged property is subject to a ground lease between The Robert F. Gledhill Trust dated October 30, 2009 and The Robert’s Childrens Trust, as ground lessors, and CT Storage – Pomona LLC, as ground lessee. The borrower entered into the ground lease on February 1, 2001, which was amended to extend the expiration to April 21, 2057. The ground lease has no remaining extension options. The annual base ground rent is $288,000. The annual ground rent is subject to additional rent in an amount equal to the excess of the additional rent percentage of the ground lessee’s gross revenues for the applicable prior calendar year over the base rent payable by the ground lessee under the ground lease for the same calendar year. The additional rent percentage is (i) 21% for the current calendar year (payable in 2025) and each subsequent calendar year through 2041 and (ii) 25% for the calendar year 2042 (payable in 2043) and each subsequent calendar year through the expiration of the ground lease.

With respect to Loan No. 34, CT Self-Storage – Escondido, the mortgaged property is subject to a ground lease between Bulen Holdings III, LLC, as ground lessor, and CT Storage II – Escondido LLC, as ground lessee. The borrower entered into the ground lease on May 24, 2002, which expires on October 1, 2048, and has no extension options remaining. The annual base ground rent is $79,706.52 and is subject to an increase every five years (each an “Adjustment Date”), with the next scheduled increase on February 1, 2027. The ground rent increase is subject to the lesser of (i) 11% and (ii) a fraction, the numerator of which is the consumer price index (“CPI”) for the January immediately prior to the Adjustment Date and the denominator of which is the CPI five years earlier.
   
(18) 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 mortgage loan documents.

With respect to Loan No. 4, Arizona Grand Resort and Spa, the borrower deposited $650,000 at loan origination into the seasonality reserve. In the event there is insufficient cash flow from the mortgaged property to cover debt service at any time during the term of the related whole loan, the initial seasonality reserve deposit will be used to cover such shortfall. 
   
(19) 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 mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being triggered in the respective mortgage loan documents.

 

 A-1-24 

 

 

  With respect to Loan No. 3, St. Johns Town Center, the mortgage loan documents permit the borrower to provide a letter of credit in lieu of making any required deposits to the tax and insurance reserve, replacement reserve, rollover reserve, TI/LC reserve or gap rent reserve. With respect to any required deposits to the TI/LC reserve, the borrowers are further permitted to provide a guaranty in accordance with the mortgage loan documents in lieu of making any such required deposits.

With respect to Loan No. 4, Arizona Grand Resort and Spa, upon the disbursement of any funds from the seasonal working capital reserve (the “Seasonality Reserve Trigger”), the borrower is required to deposit (a) during the first year of the loan term, on each monthly payment date in February, March, April, May, and June $650,000 and (b) during each year thereafter, on each monthly payment date in February, March, April, May, and June, an amount equal to the lesser of: (i) $650,000 and (ii) 1/5th of the positive difference determined by subtracting: (x) the aggregate gross revenue (excluding extraordinary income) received with respect to mortgaged property during the months of June, July, August and December in the immediately preceding calendar year from (y) without duplication, the aggregate of all operating expenses, debt service, deposits to the reserve funds and other amounts payable pursuant the mortgage loan documents during the months of June, July, August, and December of the immediate preceding calendar year, up to a cap of $3,250,000. Notwithstanding the foregoing, in the event (i) a trigger event has occurred and a portion of the initial seasonality deposit has been disbursed, (ii) it is the first time any portion of the initial seasonality deposit has been applied and (iii) the borrower has cured such trigger event and no other trigger event is continuing, then once the balance in the seasonality reserve is at least $650,000, the borrower will not be required to make ongoing deposits to the reserve until the occurrence of another Seasonality Reserve Trigger. In the event there is a shortfall, provided no event of default is then ongoing, the lender will disburse the available funds from the escrow account during the months of January, July, August and September, in an amount not to exceed the applicable shortfall.

With respect to Loan No. 4, Arizona Grand Resort and Spa, the borrower is required to deposit on a monthly basis, an amount equal to the greatest of (i) 3.0% of the projected gross revenues for the mortgaged property (excluding revenue attributable to the villas subject to the rental pool agreement) for the prior month as set forth in the most recent approved annual budget, (ii) the then-current amount required by the management agreement and (iii) the then-current amount required by any franchise agreement, for approved capital expenditures and the repair and replacement of the FF&E.

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, during a cash sweep event period, the borrower is required to deposit into a FF&E reserve on a monthly basis the lesser of (i) an amount equal to 1/12th of 5% of the operating income for the mortgaged property for the preceding calendar year or (ii) the amount of the deposit required by Hilton Management LLC on account of FF&E under the hotel management agreement.

With respect to Loan No. 7, Hilton La Jolla Torrey Pines, during a cash sweep event period, the borrower is required to deposit into a ground rent reserve on a monthly basis, at least 10 business days prior to each monthly payment date, an amount equal to the ground rent that will be payable under the ground lease for the month in which such monthly payment date occurs.

With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for taxes will be waived for so long as (i) the lender has received satisfactory evidence that all taxes have been paid prior to delinquency, (ii) the Dollar General lease remains in full force and effect, (iii) no event of default under the Dollar General lease has occurred and is continuing, (iv) no material tenant trigger event has occurred and is continuing, (v) Dollar General is obligated pursuant to its lease to pay directly all applicable taxes and other assessments and (vi) Dollar General performs such tax obligations in a timely manner and the borrower provides reasonable evidence of such performance to the lender in a timely manner.

With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for insurance premiums will be waived for so long as (i) the lender has received satisfactory evidence that the mortgaged property continues to be insured in accordance with the requirements of the mortgage loan documents, (ii) the Dollar General lease remains in full force and effect, (iii) no event of default under the Dollar General lease has occurred and is continuing, (iv) no material tenant trigger event has occurred and is continuing, (v) Dollar General is obligated pursuant to its lease to maintain insurance as required under the Dollar General lease, (vi) Dollar General performs such insurance obligations in a timely manner and the borrower provides reasonable evidence of such performance to the lender in a timely manner and (vii) among other conditions, Dollar General or any guarantor of the obligations of Dollar General under the Dollar General lease maintains a rating of not less than “BBB-” with S&P and Dollar General maintains insurance on the mortgaged property for loss resulting from perils and acts of terrorism.

 

 A-1-25 

 

 

  With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for capital expenditures will be waived for so long as (i) the Dollar General lease remains in full force and effect, (ii) no event of default under the Dollar General lease has occurred and is continuing, (iii) no material tenant trigger event has occurred and is continuing, (iv) Dollar General is obligated pursuant to its lease to maintain the mortgaged property in a condition required under the lease and (v) Dollar General performs such maintenance obligations and the borrower provides reasonable evidence of such performance to the lender in a timely manner.

With respect to Loan No. 8, 1900 Cardinal, the monthly rollover escrow will be waived for so long as the Dollar General lease remains in full force and effect.

With respect to Loan No. 8, 1900 Cardinal, on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit all material tenant trigger event excess cash for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases. The material tenant reserve account will be capped at $2,000,000.

With respect to Loan No. 9, Nashua Plaza, on each monthly payment date, the borrower is required to deposit an amount equal to 1/12th of the insurance premiums that the lender reasonably estimates will be payable for the renewal of the coverages afforded by the insurance policies. If all of the required insurance coverages are provided through an approved blanket policy, the borrower is not required to make deposits on account of insurance premiums; provided that (i) such blanket policy is maintained in full force and effect, (ii) either (a) the insurance premiums for such blanket policy are not paid in installments or financed or (b) if the insurance premiums for such blanket policy are paid in installments, (1) such installments are paid to the insurance company and/or the insurance agent or broker and not to a premium finance company, (2) the borrower submits evidence satisfactory to the lender of payment of each and every installment as such installments become due and payable and (3) the borrower has deposited with the lender the insurance premiums required deposit amount and such amount then remains on deposit with the lender and (iii) not less than 15 days prior to the expiration date of such blanket policy, the borrower provides the lender with (a) a certificate of insurance evidencing (1) the renewal of such blanket policy or (2) a new blanket policy approved by the lender and (b) evidence reasonably satisfactory of the payment in full of the insurance premiums then due thereunder.

With respect to Loan No. 9, Nashua Plaza, the borrower’s obligation to make the monthly rollover deposit of $10,828 is waived until such time as the aggregate amount of the rollover funds then on deposit in the rollover account is less than $1,000,000. Commencing on the next ensuing monthly payment date following such rollover trigger event, and on each monthly payment date thereafter, the borrower is required to make such monthly rollover deposit.

With respect to Loan No. 9, Nashua Plaza, on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit all material tenant trigger event excess cash for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases.

  With respect to Loan No. 10, Sheraton Eatontown Hotel, following the commencement and at all times during the continuance of a cash management period caused by a franchise expiration trigger event, all excess cash, if any, will be deposited in the franchise expiration reserve subaccount. A franchisee expiration trigger event means the date that is 24 months prior to the expiration of the franchise agreement or any replacement franchise agreement.

With respect to Loan No. 11, SpringHill Suites Savannah, the borrower is required to, or is required to cause Chatham Savannah SHS Leaseco LLC to, deposit into a PIP reserve account held by the lender or servicer (i) at origination, an amount equal to $2,193,856.16 for the 2024 PIP, which represents 68.6% of the total estimated cost of the 2024 PIP as the borrower sponsor has contributed the remaining cost, (ii) no later than six months prior to the 2033 PIP commencement date, either (x) the sum of 100% of the budgeted cost for an anticipated 2033 PIP, as determined by the borrower and approved by the lender or (y) a letter of credit in the amount of 100% of the budgeted costs for an anticipated 2033 PIP, as determined by the borrower and approved by the lender and (iii) no later than six months prior to any PIP commencement date, other than the 2024 PIP and the 2033 PIP, either (x) the sum of 100% of the budgeted cost for such PIP, as determined by the borrower and approved by the lender or (y) a letter of credit in the amount of 100% of the budgeted costs for such PIP, as determined by the borrower and approved by the lender.

With respect to Loan No. 12, Kenwood Pavilion, pursuant to the loan documents, on each monthly payment date during the period commencing upon the occurrence of a LA Fitness reserve trigger and terminating on the occurrence of a LA Fitness reserve trigger cure, the borrowers are required to deposit with the lender an amount

 

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  equal to $22,500, subject to a cap of $1,000,000 (which such monthly reserve recommencing upon the reserve balance falling below said cap).  Provided that no event of default is continuing, upon the occurrence of a LA Fitness reserve trigger cure, in accordance with the loan documents, any funds (if any) remaining in the LA Fitness reserve account are required to be disbursed to the borrowers, provided, however, if a cash trap event period is then continuing, then no such funds are required to be disbursed to the borrowers, and all such funds are required to be instead be deposited into the excess cash flow reserve account.

With respect to Loan No. 13, 10 Quivira Plaza, the mortgage loan documents provide that the TI/LC Reserve Cap will not apply during the continuance of an event of default or a cash trap event period. Additionally, $200,000 of the Upfront TI/LC Reserve deposit is required to only be disbursed for qualified leasing expenses with respect to re-leasing the Price Chopper premises until the occurrence of an acceptable lease sweep lease event, which, amongst other conditions outlined in the loan documents, includes a renewal of not less than five years or a replacement lease with a tenant reasonably acceptable to the lender that extends at least three years beyond the end of the loan term with an initial lease term of at least five years.  

With respect to Loan No. 16, Mill Road & Melvin Ave, the borrowers are not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Mill Road & Melvin Ave mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrowers provide the lender timely evidence of payment of all such insurance premiums.

With respect to Loan No. 17, North Carolina Cornerstone Portfolio, on each monthly payment date during a debt yield trigger event, the borrower is required to deposit $27,000 into the excess cash reserve.

With respect to Loan No. 18, Homewood Suites South Las Vegas, at origination the borrower was required to deposit $3,600,000, representing the full estimated cost of the PIP, into a PIP reserve and on each monthly payment date, the borrower is required to deposit into the PIP reserve an amount reasonably estimated by the lender to provide for adequate funds to complete the work described in any PIP within the timeframes required by the PIP for the replacements and repairs required by the PIP.
   
  With respect to Loan No. 20, Sherman & Hopkins, the borrower is not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Sherman & Hopkins mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrower provides the lender timely evidence of payment of all such insurance premiums.

With respect to Loan No. 21, Orange Blossom Center, on each payment date the borrower will be required to deposit an amount equal to 1/12th of the product obtained by multiplying $1.00 by the aggregate number of rentable square feet of space at the mortgaged property, initially $13,300.58 per month (the “Monthly Rollover Payment”) into the rollover reserve subaccount. Commencing on August 1, 2033 and on each payment date thereafter, the borrower is required to pay $71,500 (the “Enhanced Rollover Payment”); provided, however, that the Enhanced Rollover Payment will not be payable if as of July 10, 2033, at least 80% of the net rentable square footage of the mortgaged property is subject to a lease that extends at least three years after the stated maturity date. The borrower will not be required to deposit the Monthly Rollover Payment or the Enhanced Rollover Payment for so long as (i) no event of default has occurred or is continuing and (ii) no cash management period is in effect.

With respect to Loan No. 24, Valhalla Portfolio, the borrowers are not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Valhalla Portfolio mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrowers provide the lender timely evidence of payment of all such insurance premiums.

With respect to Loan No. 25, 84th Street Portfolio, the borrower is not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the 84th Street Portfolio mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrower provides the lender timely evidence of payment of all such insurance premiums.

With respect to Loan No. 30, CT Self Storage - Pomona, on each monthly payment date during a ground lease reserve trigger event, the borrower is required to deposit into a ground lease reserve an amount that is estimated by the lender to be due and payable by the borrower under the ground lease for all rent and any and all other

 

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  charges which may be due by the borrower under the ground lease in order to accumulate with the lender sufficient funds to pay all sums payable under the ground lease at least 10 business days prior to the dates due.

With respect to Loan No. 34, CT Self Storage - Escondido, on each monthly payment date during a ground lease reserve trigger event, the borrower is required to deposit into a ground lease reserve an amount that is estimated by the lender to be due and payable by the borrower under the ground lease for all rent and any and all other charges which may be due by the borrower under the ground lease in order to accumulate with the lender sufficient funds to pay all sums payable under the ground lease at least 10 business days prior to the dates due.
   
  With respect to Loan Nos. 31, 32, 33, 35, 36 and 37, Walgreens – Ooltewah, Walgreens – Johnson City, Walgreens – Gallatin, Dollar General – Orange City, Dollar General – DeLeon and Dollar General – Satsuma, the borrower is not required to make (a) monthly tax escrow deposits so long as (i) no cash sweep period exists, (ii) the related sole tenant is permitted to, and is actually paying taxes directly to, the appropriate public office and (iii) the related sole tenant lease is in full force and effect and neither the landlord, tenant nor guarantor under the related sole tenant lease is in default of any of its obligations beyond any applicable notice and cure periods, and (b) monthly insurance escrow deposits so long as (i) no cash sweep period exists, (ii) the related sole tenant is permitted to maintain, and is actually maintaining, insurance, or is self-insured, in accordance with the terms and conditions of the related sole tenant lease, (iii) the related sole tenant pays insurance premiums directly to the respective insurer or agent, unless the related sole tenant is self-insured in accordance with the terms and conditions of the sole tenant lease, and (iv) the related sole tenant lease is in full force and effect and neither the landlord nor the tenant is in default of any of its obligations beyond any applicable notice and cure periods.
   
(20) 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.
   
(21) 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.
   
(22) 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.
   
(23) 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. 1, Bridge Point Rancho Cucamonga, CEVA Logistics, the second largest tenant occupying 745,595 square feet (34.4% of NRA), has a one-time termination option on April 30, 2029 with a 12 month notice period. If such option is exercised, the tenant will be subject to a termination fee equal to the sum of 12 months of base rent, 12 months of operating expenses, certain restoration costs and unamortized costs related to TI/LC and free rent, all of which would be collected by the lender.

With respect to Loan No. 2, 900 North Michigan, the Second Largest Tenant, Grosvenor Capital Mgmnt, L.P., has a one-time option to terminate its lease effective September 30, 2032, with notice to be given by September 30, 2031.

With respect to Loan No. 5, Morrison Yard, the Second Largest Tenant, Morgan Stanley Smith Barney Financing, LLC, has a one-time option to terminate its lease effective at the end of the 84th month after the rental commencement date (estimated to be March 1, 2031), by providing at least 12 months prior written notice and payment to the landlord of the amount equal to the tenant improvement allowance and leasing commissions.

With respect to Loan No. 6, Dallas Market Center, the Second Largest Tenant, Diverse Marketing, has various lease expiration dates, consisting of 10,750 square feet expiring on October 31, 2024, 2,230 square feet expiring on September 30, 2026 and 21,767 square feet expiring on October 31, 2026.

With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Market Square II, the Fourth Largest Tenant, Navy Recruiting Center, may terminate its lease, in whole or in part, at any time by providing at least 60 days’ prior written notice.

 

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  With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Kenton Place, the Fourth Largest Tenant, Kenton Keyman Center, is comprised of four suites with lease expirations ranging from November 2024 to June 2025.

With respect to Loan No. 31, Walgreens Ooltewah, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date.  The lease expires on January 31, 2083, if not sooner terminated.

With respect to Loan No. 32, Walgreens Johnson City, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date.  The lease expires on October 31, 2082, if not sooner terminated.

With respect to Loan No. 33, Walgreens Gallatin, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date.  The lease expires on August 31, 2082, if not sooner terminated.
   
(24) With respect to Loan No. 3, St. Johns Town Center, for so long as one or more of Simon Property Group, L.P. (“SPG LP”), Simon Property Group, Inc. (“Simon Inc.”), RREEF America II Lower REIT LLC, or an affiliate of SPG LP or Simon Inc. is a non-recourse carveout guarantor, the non-recourse carveout guarantor’s aggregate liability is limited to 20% of the outstanding principal balance of the related whole loan at such time, plus all of the reasonable out-of-pocket costs and expenses (including court costs and reasonable attorneys’ fees) incurred by the related mortgagee in the enforcement of the related guaranty or the preservation of such mortgagee’s rights under such guaranty. In addition, there is no separate environmental indemnity with respect to such mortgage loan. The non-recourse carveout guaranty covers breaches of representations, warranties and indemnification provisions in the loan agreement concerning environmental laws and hazardous materials; however, such coverage is subject to the cap described above.
   
(25) Each letter identifies a group of related borrowers.
   
(26) The classification of the lockbox types is described in the preliminary prospectus. See “Description of the Mortgage Pool—Certain Calculations and Definitions” and “—Definitions” in the preliminary prospectus for further details.

With respect to the following mortgage loans, which are structured with springing lockboxes, the borrowers may suspend their obligation to cause all rents to be deposited into a clearing account during a debt service coverage ratio cash management period (provided no other cash management period is continuing) if and for so long as the following conditions are satisfied: (i) the borrowers have deposited (and maintains on deposit) with the lender cash in the amount of the difference between (A) the annual net operating income that would be required to achieve a debt service coverage ratio of 1.10x, minus (B) the then-existing annual net operating income, as reasonably determined by the lender (the “NOI Shortfall”), which cash amount will be transferred to the cash collateral subaccount; or (ii) the borrowers have deposited (and maintains on deposit) with the lender a letter of credit in the amount of the NOI Shortfall.
● Loan No. 16, Mill Road & Melvin Ave
● Loan No. 20, Sherman & Hopkins
● Loan No. 24, Valhalla Portfolio
● Loan No. 25, 84th Street Portfolio

With respect to Loan No. 10, Sheraton Eatontown Hotel, a cash management period will commence upon the occurrence of any of the following (i) an event of default, (ii) if, as of any calculation date, the debt service coverage ratio (“DSCR”) is less than 1.20x or (iii) a franchise expiration trigger event. With respect to clause (ii), such clause will not be deemed to have commenced for a period of 365 days from the borrower’s receipt of notice from the lender of the commencement of a DSCR cash management period (the “Deferral Period”) so long as (x) no event of default has occurred or is continuing and (y) within five days of the borrower’s receipt of notice from the lender that a DSCR cash management period has occurred, the borrower either (i) deposits with the lender additional funds in an amount equal to $455,000 (the “Cash Management Additional Deposit Amount”) or (ii) delivers a letter of credit to the lender in the amount of the Cash Management Additional Deposit Amount. The borrower will have the right to extend the Deferral Period for a successive period of 365 days commencing at the expiration of the prior Deferral Period for so long as (x) no event of default has occurred and is continuing and (y) no later than five days prior to the expiration of the then current Deferral Period, the borrower either (i) deposits with the lender the Cash Management Additional Deposit Amount or (ii) delivers to the lender an additional letter of credit in the amount of the Cash Management Additional Deposit Amount.

 

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(27) With respect to Loan No. 14, 2067 Anthony Avenue, the mortgaged property is expected to benefit from a 35-year 421-a tax abatement from the NYC Department of Housing Preservation & Development and is required to reserve at least 30% of the units for households earning up to 130% of area median income under affordable housing guidelines. The 421-a tax abatement phases out in the 2058/2059 tax year. The borrower has opted to reserve 98.08% (51 units) of the units at the mortgaged property for tenants earning no more than 130% of the area median income. The 421-a tax abatement is expected to provide a (i) 100% tax exemption for the first 25 years and (ii) 98.08% tax exemption for years 26 through 35, with full taxes commencing at the end of the 35th applicable tax year. The 421-a tax abatement is pending approval, and the abatement period has not yet started. The full unabated estimated taxes for the 2024/2025 tax year are $233,450 compared to the underwritten taxes of $6,177.

With respect to Loan No. 22, 92 West 169th, the mortgaged property submitted an application for a 35-year 421-a tax abatement from the NYC Department of Housing Preservation & Development program and is required to allocate at least 30% of units to the affordable housing program. 68.4% of the units (26 units) are market rate and 31.6% of the units (12 units) are designated as affordable, with a maximum rent based on 130% of the area median income. The tax abatement will expire in the 2058-2059 tax year. Taxes are 100% abated for the first 25 years, followed by a partial (30%) tax abatement for the remaining 10 years.

With respect to Loan No. 23, Oakwood Square the mortgaged property benefits from a 12-year [Community Reinvestment Act] tax abatement for 50.0% of all improvements over a base value of $1,786,500. The tax abatement began in 2018 and has a 12-year term through 2030. The lender underwrote the average of the estimated tax liability over the course of the mortgage loan term, assuming static real estate taxes and a static abatement.
   
(28) With respect to Loan No. 14, 2067 Anthony Avenue, the borrower sponsors entered into a master lease with the borrower for four vacant residential units at the mortgaged property. Additionally, the borrower sponsors entered into a master lease with the borrower for the ground floor commercial space at the mortgaged property.

With respect to Loan No. 29, Eagle Trace and Edgewood MHC Portfolio, the borrowers entered into a master lease with a borrower-affiliate for the park owned homes at the mortgaged property.
   
(29) Intentionally left blank.
   
(30) With respect to Loan No. 3, St. Johns Town Center, Shops at St. Johns, LLC (“Mall Borrower”) is not jointly and severally liable with STJTC II, LLC (“Phase II Borrower”) under the Consolidated Note A-2, which evidences indebtedness in the amount of $76,653,493.87, and Phase II Borrower is not jointly and severally liable with Mall Borrower under Consolidated Note A-1, which evidences indebtedness in the amount of $158,877,573.74; however, the foregoing limitations on liability do not affect or impair the liability of: (a) Mall Borrower under the Note Guaranty Agreement (Mall Borrower), pursuant to which Mall Borrower has guaranteed Phase II Borrower’s payment of the outstanding principal balance of and performance of all of Phase II Borrower’s other obligations under the Consolidated Note A-2, or (b) Phase II Borrower under the Note Guaranty Agreement (Phase II Borrower), pursuant to which Phase II Borrower has guaranteed Mall Borrower’s payment of the outstanding principal balance of and performance of all of Mall Borrower’s other Obligations under the Consolidated Note A-1.

With respect to Loan No. 4, Arizona Grand Resort and Spa, additional collateral for the loan includes the rental pool documents with respect to the Villa Rental Pool Rooms. The owners of the Villa Rental Pool Rooms participate in the mortgaged property’s rental pool program, whereby the units are rented out as additional hotel rooms on behalf of the villa’s owner. Under the terms of the rental pool agreements and related documents, the borrower receives a management fee of (x) with respect to each one-bedroom unit, 50% for the first $105,000 of annual rental revenue and 65% of all annual rental revenue in excess of $105,000, and (y) with respect to each suite unit, 50% for the first $70,000 of annual rental revenue and 65% of all annual rental revenue in excess of $70,000, in each case depending on the amount of annual revenue derived from the Villa Rental Pool Rooms, and a marketing fee. Each owner of the Villa Rental Pool Rooms is responsible for taxes, insurance, association dues, utilities, maintenance and renovation costs to keep the Villa Rental Pool Rooms consistent with the décor of the resort. The villa owners participating in the rental pool are permitted to reserve their Villa Rental Pool Rooms for a maximum of 60 days per year with reservations made at least one year in advance, although at the discretion of the resort management, the unit owner may use their Villa Rental Pool Rooms with shorter notice. Villa unit owners are required to provide 36 months written notice to remove their Villa Rental Pool Rooms from the rental pool. As of July 26, 2024, there are 101 Villa Rental Pool Rooms participating in the rental pool.

With respect to Loan No. 6, Dallas Market Center, the borrowers are permitted under the Dallas Market Center Whole Loan documents to accept unsecured loans made by the borrowers’ partners to the borrowers in accordance

 

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with the terms of the borrowers’ organizational documents and not exceeding $15,000,000 in the aggregate, provided that each such loan is required to be subject to the terms of a subordination and standstill agreement in a form acceptable to the lender under the Dallas Market Center Whole Loan and to be entered into by the applicable holder of such loan in favor of the lender under the Dallas Market Center Whole Loan.

With respect to Loan No. 19, Rio Vista Mobile Estates, upon an event of default, the lender has the option to disburse available funds from the Ground Rent Reserve directly to the ground lessor for payments of all amounts due in accordance with the terms of the ground lease. In the event that the lender disburses such funds, upon 10 days’ notice, the borrower is required to deposit into the Ground Lease Reserve account an amount equal to such disbursement. Furthermore, upon an event of default, the lender may (a) require the borrower to deposit funds into the Ground Lease Reserve on each monthly payment date an amount necessary to pay rents due to the ground lessor and (b) reassess (y) its estimate for deposits into the Ground Lease Reserve on each monthly payment date and/or (z) the amounts to be held in the Ground Lease Reserve.

With respect to the following mortgage loans, all of the multifamily units at the related Mortgaged Properties are leased on a month-to-month basis.
● Loan No. 16, Mill Road & Melvin Ave
● Loan No. 20, Sherman & Hopkins
● Loan No. 24, Valhalla Portfolio
● Loan No. 25, 84th Street Portfolio

 

 

 

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