FWP 1 n738_anxa1-x3.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206705-06
     

 

     
  COMM 2016-COR1  
     
  The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (File No. 333-206705) for the offering to which this communication relates.  Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the Securities and Exchange Commission for more complete information about the depositor, the issuing entity and this offering.  You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov.  Alternatively, the depositor or Deutsche Bank Securities Inc., any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-503-4611 or by emailing: prospectus.cpdg@db.com. The offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis.  You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.  
     
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  STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION  
     
  This material is for your information, and none of Deutsche Bank Securities Inc., Jefferies LLC, Citigroup Global Markets Inc., and Academy Securities, Inc.,  (the “Underwriters”) are soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  
     
  Neither this document nor anything contained herein shall form the basis for any contract or commitment whatsoever. The information contained herein is preliminary as of the date hereof. These materials are subject to change, completion or amendment from time to time.  The information contained herein will be superseded by similar information delivered to you as part of the preliminary prospectus relating to the COMM 2016-COR1 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2016-COR1 (the “Offering Document”). The information contained herein supersedes any such information previously delivered and should be reviewed only in conjunction with the entire Offering Document. All of the information contained herein is subject to the same limitations and qualifications contained in the Offering Document. The information contained herein does not contain all relevant information relating to the underlying mortgage loans or mortgaged properties. Such information is described elsewhere in the Offering Document. The information contained herein will be more fully described elsewhere in the Offering Document. The information contained herein should not be viewed as projections, forecasts, predictions or opinions with respect to value. Prior to making any investment decision, prospective investors are strongly urged to read the Offering Document its entirety. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this free writing prospectus is truthful or complete. Any representation to the contrary is a criminal offense.  
     
  The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers.  Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein.  As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance.  The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities.  Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods.  In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials.  The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials.  The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Underwriters or any of their respective affiliates makes any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities.  
     
  This document contains forward-looking statements. Those statements are subject to certain risks and uncertainties that could cause the success of collections and the actual cash flow generated to differ materially from the information set forth herein. While such information reflects projections prepared in good faith based upon methods and data that are believed to be reasonable and accurate as of the dates thereof, the depositor undertakes no obligation to revise these forward-looking statements to reflect subsequent events or circumstances. Individuals should not place undue reliance on forward-looking statements and are advised to make their own independent analysis and determination with respect to the forecasted periods, which reflect the issuer’s view only as of the date hereof.  
     
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COMM 2016-COR1

 

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

                                                 
            % of       Mortgage       Cut-off           General   Detailed    
            Initial Pool   # of   Loan   Original   Date   Maturity       Property   Property   Interest
Property Flag   ID   Property Name   Balance   Properties   Seller(1)   Balance($)(2)(3)(4)   Balance($)(2)(3)(4)   or ARD Balance($)(4)       Type(5)(6)   Type   Rate
Loan   1   Glendale Fashion Center (34)   9.2%   1   JLC   82,000,000   82,000,000   82,000,000       Retail   Anchored   4.49100%
Loan   2   Champion Station   9.0%   1   JLC   80,000,000   80,000,000   80,000,000       Office   Suburban   3.8255%
Loan   3   286 Madison Avenue   6.7%   1   JLC   60,000,000   60,000,000   60,000,000       Office   CBD   3.8000%
Loan   4   Hilton San Diego Mission Valley   6.4%   1   JLC   57,540,000   57,338,941   46,979,185       Hospitality   Full Service   4.7900%
Loan   5   Starbucks Center (33)(35)   4.5%   1   GACC   40,000,000   40,000,000   40,000,000       Mixed Use   Office/Retail   3.5240%
Loan   6   Prudential Plaza (33)(35)   4.5%   1   GACC   40,000,000   40,000,000   35,907,445       Office   CBD   4.6100%
Loan   7   Comcast Place   4.0%   1   GACC   35,400,000   35,400,000   27,802,842       Office   Suburban   4.0000%
Loan   8   The Renaissance Retail Condo   3.5%   1   JLC   31,500,000   31,500,000   31,500,000       Retail   Anchored   4.1740%
Loan   9   Spyglass Apartments (34)   3.4%   1   JLC   30,000,000   30,000,000   30,000,000       Multifamily   Mid-Rise   4.8988%
Loan   10   Redmond Woods (34)   3.0%   1   JLC   26,750,000   26,750,000   26,750,000       Office   Suburban   4.2450%
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   2.9%   1   JLC   26,000,000   25,847,728   21,884,706       Hospitality   Limited Service   5.7500%
Loan   12   Westfield San Francisco Centre (33)   2.6%   1   GACC   23,529,000   23,529,000   23,529,000       Mixed Use   Super Regional Mall/Office   3.3940%
Loan   13   Brea Portfolio   2.5%   1   JLC   22,000,000   22,000,000   22,000,000       Retail   Urban   4.2900%
Loan   14   Mt Diablo Terrace   2.4%   1   GACC   21,000,000   21,000,000   18,917,574       Office   Suburban   4.3300%
Loan   15   ACME Hotel   2.2%   1   JLC   20,000,000   20,000,000   15,952,177       Hospitality   Limited Service   4.1160%
Loan   16   Adobe Springs   2.2%   1   JLC   20,000,000   20,000,000   17,065,254       Multifamily   Garden   4.4620%
Loan   17   Crosslake Industrial Portfolio   2.2%   5   JLC   19,950,000   19,950,000   18,111,000       Industrial   Warehouse/Distribution   5.2235%
Property   17.01   3056 Walker   0.7%   1   JLC   6,198,300   6,198,300           Industrial   Warehouse/Distribution    
Property   17.02   1100 Hynes Avenue   0.5%   1   JLC   4,859,700   4,859,700           Industrial   Warehouse/Distribution    
Property   17.03   2966 Wilson   0.4%   1   JLC   3,550,200   3,550,200           Industrial   Warehouse/Distribution    
Property   17.04   1269 East Mount   0.4%   1   JLC   3,433,800   3,433,800           Industrial   Warehouse/Distribution    
Property   17.05   3111 Wilson   0.2%   1   JLC   1,908,000   1,908,000           Industrial   Warehouse/Distribution    
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   2.1%   1   JLC   19,000,000   18,859,193   15,789,897       Hospitality   Full Service   5.3340%
Loan   19   GM Office Building   2.0%   1   JLC   18,250,000   18,212,718   12,641,649       Office   Suburban   4.8770%
Loan   20   Grant and Geary Center   1.9%   1   JLC   18,000,000   17,285,665   86,572       Mixed Use   Office/Retail   4.5000%
Loan   21   Hagerstown Premium Outlets (33)   1.8%   1   GACC   16,000,000   16,000,000   13,574,699       Retail   Anchored   4.2590%
Loan   22   Birch Run Premium Outlets (33)   1.7%   1   GACC   15,000,000   15,000,000   15,000,000       Retail   Anchored   4.2090%
Loan   23   Franklin Square   1.6%   1   JLC   14,275,000   14,275,000   14,275,000       Retail   Anchored   4.7000%
Loan   24   Greenwich Portfolio (34)   1.5%   1   JLC   13,750,000   13,750,000   13,750,000       Mixed Use   Retail/Office/Multifamily   4.9904%
Loan   25   GSA & KCI Portfolio   1.3%   2   JLC   11,570,000   11,570,000   9,787,641       Office   Suburban   5.0700%
Property   25.01   University Park Tech Center VII   0.9%   1   JLC   7,970,000   7,970,000           Office   Suburban    
Property   25.02   ICE Office Building   0.4%   1   JLC   3,600,000   3,600,000           Office   Suburban    
Loan   26   Watt Towne Center   1.2%   1   GACC   10,275,000   10,275,000   8,697,222       Retail   Anchored   4.1700%
Loan   27   Palms Apartment Portfolio   1.1%   3   JLC   9,800,000   9,786,758   7,802,257       Multifamily   Garden   5.2770%
Property   27.01   Palm Shadows Apartments   0.5%   1   JLC   4,080,000   4,074,487           Multifamily   Garden    
Property   27.02   Siesta Palms Apartments   0.4%   1   JLC   3,133,000   3,128,767           Multifamily   Garden    
Property   27.03   Twin Palms Apartments   0.3%   1   JLC   2,587,000   2,583,505           Multifamily   Garden    
Loan   28   18200 W. Bluemound Road   1.1%   1   JLC   9,600,000   9,600,000   8,748,085       Retail   Anchored   4.2450%
Loan   29   Stone Ridge Apartments   1.1%   1   GACC   9,560,000   9,547,525   7,741,251       Multifamily   Garden   4.5500%
Loan   30   Broadway Industrial   1.0%   1   JLC   8,750,000   8,750,000   8,750,000       Industrial   Warehouse   4.9800%
Loan   31   Uniek Industrial   1.0%   1   JLC   8,650,000   8,638,870   7,022,753       Industrial   Flex Warehouse   4.6270%
Loan   32   Pottery Barn Green Hills   0.9%   1   JLC   8,000,000   7,968,715   6,411,759       Retail   Anchored   4.2500%
Loan   33   Mid-City Storage & Apartments   0.9%   1   JLC   7,850,000   7,807,915   7,357,852       Mixed Use   Self Storage/Multifamily   6.1500%
Loan   34   The Brickyard   0.8%   1   JLC   7,500,000   7,500,000   7,500,000       Retail   Shadow Anchored   4.8300%
Loan   35   USC Student Housing Portfolio   0.8%   2   JLC   7,125,000   7,125,000   6,264,343       Multifamily   Student Housing   4.6880%
Property   35.01   Tropicana Student Housing   0.4%   1   JLC   3,703,923   3,703,923           Multifamily   Student Housing    
Property   35.02   Chateau Sera Student Housing   0.4%   1   JLC   3,421,078   3,421,078           Multifamily   Student Housing    
Loan   36   Comfort Inn Jamestown   0.8%   1   JLC   7,000,000   6,901,693   5,296,555       Hospitality   Limited Service   5.3300%
Loan   37   Shops at Cinco Ranch   0.8%   1   JLC   6,800,000   6,800,000   5,823,314       Retail   Unanchored   4.6000%
Loan   38   Memphis Industrial   0.8%   1   GACC   6,790,000   6,790,000   5,843,361       Industrial   Warehouse/Distribution   3.7900%
Loan   39   LA Fitness Austin   0.7%   1   JLC   6,325,000   6,325,000   6,325,000       Retail   Anchored   4.3930%
Loan   40   Glenbrook Square   0.7%   1   GACC   6,187,500   6,187,500   5,209,356       Retail   Anchored   3.9800%
Loan   41   Creedmoor Commons   0.6%   1   JLC   5,725,000   5,725,000   4,841,051       Retail   Anchored   5.0630%
Loan   42   217 & 233 West Huron   0.5%   1   JLC   4,720,000   4,684,764   3,918,325       Retail   Unanchored   5.3000%

  

A-1-1 

 

 

COMM 2016-COR1

 

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

                                                             
                Interest   Original   Remaining   Original   Remaining       First               Monthly   Annual
            Administrative   Accrual   Term to   Term to   Amortization   Amortization   Origination   Payment   Maturity   ARD Loan   Final   Debt   Debt
Property Flag   ID   Property Name   Fee Rate(7)   Basis   Maturity or ARD(4)   Maturity or ARD(4)   Term(4)   Term(4)   Date   Date(4)   or ARD Date(4)   (Yes/No)   Maturity Date   Service($)(4)(8)   Service($)(4)(8)
Loan   1   Glendale Fashion Center (34)   0.01460%   Actual/360   120   116   0   0   06/01/2016   07/06/2016   06/06/2026   No   06/06/2026   311,147   3,733,767
Loan   2   Champion Station   0.0146%   Actual/360   120   118   0   0   07/27/2016   09/06/2016   08/06/2026   No   08/06/2026   258,575   3,102,906
Loan   3   286 Madison Avenue   0.0146%   Actual/360   120   118   0   0   07/29/2016   09/06/2016   08/06/2026   No   08/06/2026   192,639   2,311,667
Loan   4   Hilton San Diego Mission Valley   0.0146%   Actual/360   120   117   360   357   06/30/2016   08/06/2016   07/06/2026   No   07/06/2026   301,545   3,618,537
Loan   5   Starbucks Center (33)(35)   0.0122%   Actual/360   120   120   0   0   09/14/2016   11/06/2016   10/06/2026   Yes   10/06/2028   119,098   1,429,178
Loan   6   Prudential Plaza (33)(35)   0.0122%   Actual/360   120   106   360   360   07/30/2015   09/06/2015   08/06/2025   No   08/06/2025   205,297   2,463,562
Loan   7   Comcast Place   0.0146%   Actual/360   120   117   300   300   06/15/2016   08/06/2016   07/06/2026   No   07/06/2026   186,854   2,242,251
Loan   8   The Renaissance Retail Condo   0.0521%   Actual/360   120   120   0   0   09/09/2016   11/06/2016   10/06/2026   No   10/06/2026   111,089   1,333,071
Loan   9   Spyglass Apartments (34)   0.0521%   Actual/360   68   60   0   0   01/14/2016   03/06/2016   10/06/2021   No   10/06/2021   124,171   1,490,052
Loan   10   Redmond Woods (34)   0.0146%   Actual/360   120   118   0   0   07/20/2016   09/06/2016   08/06/2026   No   08/06/2026   95,942   1,151,309
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   0.0146%   Actual/360   120   114   360   354   03/18/2016   05/06/2016   04/06/2026   No   04/06/2026   151,729   1,820,747
Loan   12   Westfield San Francisco Centre (33)   0.0110%   Actual/360   120   118   0   0   07/11/2016   09/01/2016   08/01/2026   No   08/01/2026   67,472   809,666
Loan   13   Brea Portfolio   0.0146%   Actual/360   120   118   0   0   08/05/2016   09/06/2016   08/06/2026   No   08/06/2026   79,742   956,908
Loan   14   Mt Diablo Terrace   0.0146%   Actual/360   120   119   336   336   08/29/2016   10/06/2016   09/06/2026   No   09/06/2026   107,962   1,295,543
Loan   15   ACME Hotel   0.0146%   Actual/360   120   120   360   360   09/15/2016   11/06/2016   10/06/2026   No   10/06/2026   96,825   1,161,905
Loan   16   Adobe Springs   0.0146%   Actual/360   120   117   360   360   06/09/2016   08/06/2016   07/06/2026   No   07/06/2026   100,886   1,210,632
Loan   17   Crosslake Industrial Portfolio   0.0146%   Actual/360   120   120   360   360   09/16/2016   11/06/2016   10/06/2026   No   10/06/2026   109,837   1,318,049
Property   17.01   3056 Walker                                                    
Property   17.02   1100 Hynes Avenue                                                    
Property   17.03   2966 Wilson                                                    
Property   17.04   1269 East Mount                                                    
Property   17.05   3111 Wilson                                                    
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   0.0146%   Actual/360   120   113   360   353   02/25/2016   04/06/2016   03/06/2026   No   03/06/2026   105,909   1,270,913
Loan   19   GM Office Building   0.0146%   Actual/360   120   119   270   269   08/31/2016   10/06/2016   09/06/2026   No   09/06/2026   111,453   1,337,431
Loan   20   Grant and Geary Center   0.0146%   Actual/360   120   114   120   114   04/06/2016   05/06/2016   04/06/2026   No   04/06/2026   186,549   2,238,590
Loan   21   Hagerstown Premium Outlets (33)   0.0122%   Actual/360   120   112   360   360   01/07/2016   03/06/2016   02/06/2026   No   02/06/2026   78,795   945,537
Loan   22   Birch Run Premium Outlets (33)   0.0122%   Actual/360   120   112   0   0   01/07/2016   03/06/2016   02/06/2026   No   02/06/2026   53,343   640,119
Loan   23   Franklin Square   0.0146%   Actual/360   67   60   0   0   02/10/2016   04/06/2016   10/06/2021   No   10/06/2021   56,687   680,243
Loan   24   Greenwich Portfolio (34)   0.0146%   Actual/360   120   120   0   0   09/15/2016   11/06/2016   10/06/2026   No   10/06/2026   57,976   695,710
Loan   25   GSA & KCI Portfolio   0.0146%   Actual/360   120   116   360   360   05/19/2016   07/06/2016   06/06/2026   No   06/06/2026   62,606   751,274
Property   25.01   University Park Tech Center VII                                                    
Property   25.02   ICE Office Building                                                    
Loan   26   Watt Towne Center   0.0446%   Actual/360   120   118   360   360   08/05/2016   09/06/2016   08/06/2026   No   08/06/2026   50,067   600,801
Loan   27   Palms Apartment Portfolio   0.0721%   Actual/360   120   119   330   329   08/18/2016   10/06/2016   09/06/2026   No   09/06/2026   56,337   676,044
Property   27.01   Palm Shadows Apartments                                                    
Property   27.02   Siesta Palms Apartments                                                    
Property   27.03   Twin Palms Apartments                                                    
Loan   28   18200 W. Bluemound Road   0.0146%   Actual/360   120   119   360   360   08/25/2016   10/06/2016   09/06/2026   No   09/06/2026   47,198   566,378
Loan   29   Stone Ridge Apartments   0.0146%   Actual/360   120   119   360   359   08/18/2016   10/06/2016   09/06/2026   No   09/06/2026   48,724   584,683
Loan   30   Broadway Industrial   0.0146%   Actual/360   60   59   0   0   08/09/2016   10/06/2016   09/06/2021   No   09/06/2021   36,817   441,802
Loan   31   Uniek Industrial   0.0146%   Actual/360   120   119   360   359   08/31/2016   10/06/2016   09/06/2026   No   09/06/2026   44,483   533,801
Loan   32   Pottery Barn Green Hills   0.0146%   Actual/360   120   117   360   357   06/24/2016   08/06/2016   07/06/2026   No   07/06/2026   39,355   472,262
Loan   33   Mid-City Storage & Apartments   0.0146%   Actual/360   60   54   360   354   03/10/2016   05/06/2016   04/06/2021   No   04/06/2021   47,824   573,893
Loan   34   The Brickyard   0.0146%   Actual/360   120   117   0   0   06/10/2016   08/06/2016   07/06/2026   No   07/06/2026   30,607   367,281
Loan   35   USC Student Housing Portfolio   0.0146%   Actual/360   120   105   360   360   07/01/2015   08/06/2015   07/06/2025   No   07/06/2025   36,902   442,819
Property   35.01   Tropicana Student Housing                                                    
Property   35.02   Chateau Sera Student Housing                                                    
Loan   36   Comfort Inn Jamestown   0.0146%   Actual/360   120   111   300   291   12/30/2015   02/06/2016   01/06/2026   No   01/06/2026   42,278   507,340
Loan   37   Shops at Cinco Ranch   0.0146%   Actual/360   120   118   360   360   08/03/2016   09/06/2016   08/06/2026   No   08/06/2026   34,860   418,318
Loan   38   Memphis Industrial   0.0546%   Actual/360   120   118   360   360   08/04/2016   09/06/2016   08/06/2026   No   08/06/2026   31,600   379,198
Loan   39   LA Fitness Austin   0.0146%   Actual/360   120   120   0   0   09/13/2016   11/06/2016   10/06/2026   No   10/06/2026   23,476   281,716
Loan   40   Glenbrook Square   0.0146%   Actual/360   120   119   360   360   08/22/2016   10/06/2016   09/06/2026   No   09/06/2026   29,469   353,625
Loan   41   Creedmoor Commons   0.0146%   Actual/360   120   112   360   360   01/27/2016   03/06/2016   02/06/2026   No   02/06/2026   30,954   371,446
Loan   42   217 & 233 West Huron   0.0146%   Actual/360   120   113   360   353   02/23/2016   04/06/2016   03/06/2026   No   03/06/2026   26,210   314,525

  

A-1-2 

 

 

COMM 2016-COR1

 

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

  

            Pari Passu   Pari Passu                                    
            Companion Loan   Companion Loan   Remaining           Crossed                    
            Monthly Debt   Annual Debt   Interest Only       Cash   With   Related   Underwritten   Underwritten   Grace   Payment
Property Flag   ID   Property Name   Service($)(4)   Service($)(4)   Period(4)    Lockbox(9)    Management(10)     Other Loans   Borrower   NOI DSCR(8)(11)(12)   NCF DSCR(8)(11)(12)   Period(13)   Date
Loan   1   Glendale Fashion Center (34)           116   Hard   Springing   No       1.77x   1.71x   0   6
Loan   2   Champion Station           118   Hard   Springing   No       2.44x   2.26x   0   6
Loan   3   286 Madison Avenue           118   Hard   Springing   No       1.91x   1.85x   0   6
Loan   4   Hilton San Diego Mission Valley               Hard   Springing   No       1.81x   1.59x   0   6
Loan   5   Starbucks Center (33)(35)   297,745   3,572,944   120   Springing Hard   Springing   No       3.44x   3.16x   0   6
Loan   6   Prudential Plaza (33)(35)   1,924,658   23,095,898   34   Hard   In Place   No       1.59x   1.44x   0   6
Loan   7   Comcast Place           21   Hard   Springing   No       1.87x   1.81x   0   6
Loan   8   The Renaissance Retail Condo           120   Hard   Springing   No       1.79x   1.76x   0   6
Loan   9   Spyglass Apartments (34)           60   Soft   Springing   No       1.68x   1.64x   0   6
Loan   10   Redmond Woods (34)           118   Hard   Springing   No       2.35x   2.18x   0   6
Loan   11   Hampton Inn & Suites Boston Crosstown(34)               Hard   Springing   No       2.01x   1.72x   0   6
Loan   12   Westfield San Francisco Centre (33)   1,174,426   14,093,115   118   Hard   Springing   No       3.79x   3.68x   5   1
Loan   13   Brea Portfolio           118   Hard   Springing   No       1.82x   1.76x   0   6
Loan   14   Mt Diablo Terrace           59   Hard   Springing   No       1.45x   1.33x   0   6
Loan   15   ACME Hotel               Hard   Springing   No       1.98x   1.76x   0   6
Loan   16   Adobe Springs           21   Springing Soft   Springing   No       1.56x   1.46x   0   6
Loan   17   Crosslake Industrial Portfolio           48   Hard   Springing   No       1.91x   1.63x   0   6
Property   17.01   3056 Walker                                            
Property   17.02   1100 Hynes Avenue                                            
Property   17.03   2966 Wilson                                            
Property   17.04   1269 East Mount                                            
Property   17.05   3111 Wilson                                            
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront               Hard   Springing   No       1.73x   1.52x   0   6
Loan   19   GM Office Building               Hard   Springing   No   Yes - B   1.89x   1.71x   0   6
Loan   20   Grant and Geary Center               Hard   Springing   No       1.65x   1.45x   0   6
Loan   21   Hagerstown Premium Outlets (33)   300,405   3,604,858   16   Hard   Springing   No   Yes - A   2.50x   2.34x   0   6
Loan   22   Birch Run Premium Outlets (33)   384,071   4,608,855   112   Hard   Springing   No   Yes - A   3.10x   2.90x   0   6
Loan   23   Franklin Square           60   Hard   Springing   No       2.40x   2.25x   0   6
Loan   24   Greenwich Portfolio (34)           120   Soft for Multifamily; Hard for Retail/Office   In-Place   No       1.64x   1.60x   0   6
Loan   25   GSA & KCI Portfolio           8   Hard   Springing   No       1.51x   1.42x   0   6
Property   25.01   University Park Tech Center VII                                            
Property   25.02   ICE Office Building                                            
Loan   26   Watt Towne Center           22   Hard   Springing   No       1.66x   1.54x   0   6
Loan   27   Palms Apartment Portfolio               Soft   In-Place   No       1.75x   1.56x   0   6
Property   27.01   Palm Shadows Apartments                                            
Property   27.02   Siesta Palms Apartments                                            
Property   27.03   Twin Palms Apartments                                            
Loan   28   18200 W. Bluemound Road           59   Hard   In Place   No       1.54x   1.44x   0   6
Loan   29   Stone Ridge Apartments               Soft   Springing   No       1.57x   1.46x   0   6
Loan   30   Broadway Industrial           59   Hard   Springing   No       1.76x   1.70x   0   6
Loan   31   Uniek Industrial               Hard   Springing   No   Yes - B   1.74x   1.58x   0   6
Loan   32   Pottery Barn Green Hills               Hard   Springing   No       1.41x   1.40x   0   6
Loan   33   Mid-City Storage & Apartments               Soft   Springing   No       1.70x   1.58x   0   6
Loan   34   The Brickyard           117   Springing Hard   Springing   No       2.33x   2.19x   0   6
Loan   35   USC Student Housing Portfolio           21   Soft   Springing   No       1.34x   1.30x   0   6
Property   35.01   Tropicana Student Housing                                            
Property   35.02   Chateau Sera Student Housing                                            
Loan   36   Comfort Inn Jamestown               Hard   Springing   No       1.57x   1.42x   0   6
Loan   37   Shops at Cinco Ranch           22   Hard   Springing   No       1.75x   1.64x   0   6
Loan   38   Memphis Industrial           34   Hard   Springing   No       2.62x   2.26x   0   6
Loan   39   LA Fitness Austin           120   Hard   Springing   No       2.12x   2.09x   0   6
Loan   40   Glenbrook Square           23   Hard   Springing   No       1.70x   1.62x   0   6
Loan   41   Creedmoor Commons           4   Soft Springing Hard   Springing   No       1.71x   1.51x   0   6
Loan   42   217 & 233 West Huron               Hard   Springing   No       1.47x   1.41x   0   6

  

A-1-3 

 

 

COMM 2016-COR1

 

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

                                             
                    FIRREA   Cut-Off                    
            Appraised   Appraisal   Compliant   Date LTV   LTV Ratio at                
Property Flag   ID   Property Name   Value ($)(14)   As-of Date   (Yes/No)   Ratio(11)(12)(14)   Maturity or ARD(11)(12)(14)   Address   City   County   State
Loan   1   Glendale Fashion Center (34)   135,600,000   05/01/2016   Yes   60.5%   60.5%   211-249 North Glendale Avenue   Glendale   Los Angeles   CA
Loan   2   Champion Station   126,500,000   07/06/2016   Yes   63.2%   63.2%   190, 210 & 230 West Tasman Drive   San Jose   Santa Clara   CA
Loan   3   286 Madison Avenue   110,000,000   07/01/2016   Yes   54.5%   54.5%   286 Madison Avenue   New York   New York   NY
Loan   4   Hilton San Diego Mission Valley   82,200,000   05/31/2016   Yes   69.8%   57.2%   901 Camino Del Rio South   San Diego   San Diego   CA
Loan   5   Starbucks Center (33)(35)   453,500,000   06/21/2016   Yes   30.9%   30.9%   2401 & 2701 Utah Avenue South   Seattle   King   WA
Loan   6   Prudential Plaza (33)(35)   700,000,000   07/20/2016   Yes   59.3%   53.2%   130 East Randolph Street & 180 North Stetson Avenue   Chicago   Cook   IL
Loan   7   Comcast Place   61,200,000   04/29/2016   Yes   57.8%   45.4%   3011, 3055, 3077 Comcast Place   Livermore   Alameda   CA
Loan   8   The Renaissance Retail Condo   47,000,000   06/29/2016   Yes   67.0%   67.0%   130 Lenox Avenue   New York   New York   NY
Loan   9   Spyglass Apartments (34)   50,300,000   11/19/2015   Yes   59.6%   59.6%   8540 Homeplace Drive   Jacksonville   Duval   FL
Loan   10   Redmond Woods (34)   38,500,000   05/20/2016   Yes   69.5%   69.5%   5000, 5010 and 5020 148th Avenue Northeast   Redmond   King   WA
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   46,300,000   02/18/2016   Yes   55.8%   47.3%   811 Massachusetts Avenue   Boston   Suffolk   MA
Loan   12   Westfield San Francisco Centre (33)   1,220,000,000   04/27/2016   Yes   35.5%   35.5%   865 Market Street   San Francisco   San Francisco   CA
Loan   13   Brea Portfolio   35,500,000   06/28/2016   Yes   62.0%   62.0%   160, 240-260 South Brea Boulevard & 375 West Birch Street   Brea   Orange   CA
Loan   14   Mt Diablo Terrace   31,550,000   06/02/2016   Yes   66.6%   60.0%   3466, 3468, & 3470 Mt. Diablo Boulevard   Lafayette   Contra Costa   CA
Loan   15   ACME Hotel   37,000,000   08/17/2016   Yes   54.1%   43.1%   15 East Ohio Street   Chicago   Cook   IL
Loan   16   Adobe Springs   27,260,000   05/09/2016   Yes   73.4%   62.6%   3700 Watonga   Houston   Harris   TX
Loan   17   Crosslake Industrial Portfolio   34,275,000   08/03/2016   Yes   58.2%   52.8%   Various   Various   Kent   MI
Property   17.01   3056 Walker   10,650,000   08/03/2016   Yes           3056 Walker Ridge Drive Northwest   Walker   Kent   MI
Property   17.02   1100 Hynes Avenue   8,350,000   08/03/2016   Yes           1100 Hynes Avenue Southwest   Grand Rapids   Kent   MI
Property   17.03   2966 Wilson   6,100,000   08/03/2016   Yes           2966 Wilson Drive Northwest   Walker   Kent   MI
Property   17.04   1269 East Mount   5,900,000   08/03/2016   Yes           1269 East Mount Garfield Road   Norton Shores   Kent   MI
Property   17.05   3111 Wilson   3,275,000   08/03/2016   Yes           3111 North Wilson Court Northwest   Walker   Kent   MI
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   28,100,000   02/01/2017   Yes   67.1%   56.2%   1615 South Atlantic Avenue   Daytona Beach   Volusia   FL
Loan   19   GM Office Building   30,400,000   08/01/2016   Yes   59.9%   41.6%   28405 Van Dyke Avenue   Warren   Macomb   MI
Loan   20   Grant and Geary Center   49,360,000   01/19/2016   Yes   35.0%   0.2%   77 Geary Street and 50 Grant Avenue   San Francisco   San Francisco   CA
Loan   21   Hagerstown Premium Outlets (33)   150,000,000   11/30/2015   Yes   51.3%   43.6%   495 Premium Outlets Boulevard   Hagerstown   Washington   MD
Loan   22   Birch Run Premium Outlets (33)   207,200,000   12/03/2015   Yes   59.4%   59.4%   12240 South Beyer Road   Birch Run   Saginaw   MI
Loan   23   Franklin Square   20,500,000   01/13/2016   Yes   69.6%   69.6%   3900 East Franklin Boulevard   Gastonia   Gaston   NC
Loan   24   Greenwich Portfolio (34)   20,500,000   06/30/2016   Yes   67.1%   67.1%   35, 39, 43, 47 Church Street; 32, 36, 42 Sherwood Place; 1-4 Putnam Court   Greenwich   Fairfield   CT
Loan   25   GSA & KCI Portfolio   16,200,000   Various   Yes   71.4%   60.4%   Various   Various   Various   Various
Property   25.01   University Park Tech Center VII   11,200,000   04/01/2016   Yes           5751 Northwest Parkway   San Antonio   Bexar   TX
Property   25.02   ICE Office Building   5,000,000   04/04/2016   Yes           7355 Woodland Drive   Indianapolis   Marion   IN
Loan   26   Watt Towne Center   14,300,000   06/22/2016   Yes   71.9%   60.8%   3601-3675 Elkhorn Boulevard   North Highlands   Sacramento   CA
Loan   27   Palms Apartment Portfolio   14,700,000   05/10/2016   Yes   66.6%   53.1%   Various   Phoenix   Maricopa   AZ
Property   27.01   Palm Shadows Apartments   5,700,000   05/10/2016   Yes           1350 East Thomas Road   Phoenix   Maricopa   AZ
Property   27.02   Siesta Palms Apartments   5,000,000   05/10/2016   Yes           2541 West Georgia Avenue   Phoenix   Maricopa   AZ
Property   27.03   Twin Palms Apartments   4,000,000   05/10/2016   Yes           4323 North 27 Avenue   Phoenix   Maricopa   AZ
Loan   28   18200 W. Bluemound Road   13,900,000   06/12/2016   Yes   69.1%   62.9%   18200 West Bluemound Road   Brookfield   Waukesha   WI
Loan   29   Stone Ridge Apartments   12,890,000   07/15/2016   Yes   74.1%   60.1%   3396 Sunriver Road   Bullhead City   Mohave   AZ
Loan   30   Broadway Industrial   16,200,000   07/25/2016   Yes   54.0%   54.0%   1931 North Broadway   Los Angeles   Los Angeles   CA
Loan   31   Uniek Industrial   13,500,000   04/20/2016   Yes   64.0%   52.0%   805 Uniek Drive   Waunakee   Dane   WI
Loan   32   Pottery Barn Green Hills   12,100,000   06/01/2016   Yes   65.9%   53.0%   4011 Hillsboro Pike   Nashville   Davidson   TN
Loan   33   Mid-City Storage & Apartments   11,200,000   01/27/2016   Yes   69.7%   65.7%   4040 Tulane Avenue   New Orleans   Orleans   LA
Loan   34   The Brickyard   12,750,000   04/19/2016   Yes   58.8%   58.8%   4006, 4010, 4012, & 4014 Foothills Boulevard   Roseville   Placer   CA
Loan   35   USC Student Housing Portfolio   10,580,000   04/06/2015   Yes   67.3%   59.2%   Various   Los Angeles   Los Angeles   CA
Property   35.01   Tropicana Student Housing   5,500,000   04/06/2015   Yes           1256 West 29th Street   Los Angeles   Los Angeles   CA
Property   35.02   Chateau Sera Student Housing   5,080,000   04/06/2015   Yes           2343 Scarff Street   Los Angeles   Los Angeles   CA
Loan   36   Comfort Inn Jamestown   10,600,000   11/18/2015   Yes   65.1%   50.0%   2800 North Main Street Extension   Jamestown   Chautauqua   NY
Loan   37   Shops at Cinco Ranch   10,700,000   07/07/2016   Yes   63.6%   54.4%   5215 FM 1463   Katy   Fort Bend   TX
Loan   38   Memphis Industrial   11,000,000   06/23/2016   Yes   61.7%   53.1%   3131 Appling Road   Memphis   Shelby   TN
Loan   39   LA Fitness Austin   11,200,000   07/29/2016   Yes   56.5%   56.5%   1824 West Slaughter Lane   Austin   Travis   TX
Loan   40   Glenbrook Square   8,400,000   07/27/2016   Yes   73.7%   62.0%   6310-6842 Telephone Road   Houston   Harris   TX
Loan   41   Creedmoor Commons   7,750,000   12/21/2015   Yes   73.9%   62.5%   2151 East Wilton Avenue   Creedmoor   Granville   NC
Loan   42   217 & 233 West Huron   7,350,000   12/23/2015   Yes   63.7%   53.3%   217 and 233 West Huron Street   Chicago   Cook   IL

  

A-1-4 

 

 

COMM 2016-COR1

 

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

 

                        Net       Loan per Net                        
                        Rentable Area   Units   Rentable Area                        
                Year   Year   (SF/Units   of   (SF/Units/       Prepayment Provisions   Most Recent Operating   Most Recent   Most Recent   Most Recent
Property Flag   ID   Property Name   Zip Code   Built   Renovated   Rooms)(5)   Measure   Rooms)($)(11)(12)       (# of payments)(4)(15)(16)(17)   Statements Date   EGI($)   Expenses($)   NOI($)
Loan   1   Glendale Fashion Center (34)   91206   2000   NAP   263,882   Sq. Ft.   311       L(28), D(85), O(7)   T-12 8/31/2016   9,453,060   2,204,963   7,248,097
Loan   2   Champion Station   95134   1994-1995   2015   287,371   Sq. Ft.   278       L(26), D(90), O(4)                
Loan   3   286 Madison Avenue   10017   1918   2008-2016   128,244   Sq. Ft.   468       L(26), D(90), O(4)   T-12 5/31/2016   6,681,310   3,051,505   3,629,805
Loan   4   Hilton San Diego Mission Valley   92108   1987   2013-2015   350   Rooms   163,826       L(27), D(89), O(4)   T-12 7/31/2016   19,839,771   13,153,630   6,686,141
Loan   5   Starbucks Center (33)(35)   98134   1912, 1915, 1993   2001   1,506,716   Sq. Ft.   93       L(24), D(91), O(5)   T-12 6/30/2016   22,573,473   7,094,458   15,479,016
Loan   6   Prudential Plaza (33)(35)   60601   1955   1990, 2014-2015   2,269,632   Sq. Ft.   183       L(35), D(79), O(6)   T-12 7/31/2016   56,787,814   31,372,924   25,414,890
Loan   7   Comcast Place   94551   1989   2008   219,631   Sq. Ft.   161       L(27), D(88), O(5)                
Loan   8   The Renaissance Retail Condo   10026   2000   NAP   121,492   Sq. Ft.   259       L(24), D(93), O(3)   T-12 6/30/2016   2,585,573   449,713   2,135,860
Loan   9   Spyglass Apartments (34)   32256   2015   NAP   252   Units   119,048       L(32), D(33), O(3)   T-6 8/31/2016 Ann.   4,206,295   1,735,214   2,471,081
Loan   10   Redmond Woods (34)   98052   1982   2003-2005, 2015   145,221   Sq. Ft.   184       L(26), D(90), O(4)   T-12 4/30/2016   2,712,578   998,986   1,713,592
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   02118   2004   2012-2014   175   Rooms   147,701       L(30), D(86), O(4)   T-12 6/30/2016   13,182,578   9,428,464   3,754,114
Loan   12   Westfield San Francisco Centre (33)   94103   1908, 1988   2006   794,521   Sq. Ft.   545       L(26), DorYM1(90), O(4)   T-12 3/31/2016   90,654,772   38,690,784   51,963,988
Loan   13   Brea Portfolio   92821   1997, 1999, 2000   2009   47,608   Sq. Ft.   462       L(26), D(90), O(4)   T-12 5/31/2016   2,091,617   524,097   1,567,519
Loan   14   Mt Diablo Terrace   94549   1982   2014-2015   81,554   Sq. Ft.   257       L(25), D(90), O(5)   T-12 5/31/2016   2,540,204   975,806   1,564,398
Loan   15   ACME Hotel   60611   1925-1926   2002   130   Rooms   153,846       L(24), D(92), O(4)   T-12 6/30/2016   6,553,397   4,224,245   2,329,152
Loan   16   Adobe Springs   77092   1978   2013-2015   408   Units   49,020       L(27), D(89), O(4)   T-12 6/30/2016   3,637,771   1,742,798   1,894,973
Loan   17   Crosslake Industrial Portfolio   Various   Various   NAP   1,132,363   Sq. Ft.   18       L(24), D(93), O(3)   T-12 5/31/2016   3,494,946   1,054,497   2,440,450
Property   17.01   3056 Walker   49544   2003   NAP   335,125   Sq. Ft.   19           T-12 5/31/2016   1,174,424   310,510   863,914
Property   17.02   1100 Hynes Avenue   49507   2000   2013   215,050   Sq. Ft.   23           T-12 5/31/2016   675,399   244,320   431,079
Property   17.03   2966 Wilson   49534   1999   1998   200,188   Sq. Ft.   18           T-12 5/31/2016   782,549   195,684   586,864
Property   17.04   1269 East Mount   49441   1999   NAP   275,000   Sq. Ft.   12           T-12 5/31/2016   633,639   174,845   458,794
Property   17.05   3111 Wilson   49534   2004   NAP   107,000   Sq. Ft.   18           T-12 5/31/2016   228,935   129,138   99,797
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   32118   1973   2010-2011   188   Rooms   100,315       L(31), D(85), O(4)   12/31/2015   6,640,971   4,300,896   2,340,075
Loan   19   GM Office Building   48092   2004   NAP   200,000   Sq. Ft.   91       L(25), D(91), O(4)   T-12 7/31/2016   4,165,329   1,160,213   3,005,116
Loan   20   Grant and Geary Center   94108   1909   1980   121,120   Sq. Ft.   143       L(30), D(87), O(3)   12/31/2015   6,058,118   2,467,620   3,590,498
Loan   21   Hagerstown Premium Outlets (33)   21740   1988-2000   NAP   484,994   Sq. Ft.   159       L(32), D(81), O(7)   T-12 5/31/2016   15,662,335   4,625,296   11,037,039
Loan   22   Birch Run Premium Outlets (33)   48415   1985, 1986-1995   2005, 2013   680,003   Sq. Ft.   181       L(32), D(81), O(7)   T-12 5/31/2016   21,289,560   4,748,954   16,540,606
Loan   23   Franklin Square   28054   2005   NAP   134,239   Sq. Ft.   106       L(31), D(33), O(3)   T-12 6/30/2016   1,978,186   463,684   1,514,502
Loan   24   Greenwich Portfolio (34)   06830   1884-1972   2005-2007, 2011   37,192   Sq. Ft.   370       L(24), D(92), O(4)   12/31/2015   1,516,212   183,133   1,333,079
Loan   25   GSA & KCI Portfolio   Various   Various   Various   73,893   Sq. Ft.   157       L(28), D(89), O(3)   T-12 2/29/2016   1,243,938   322,517   921,421
Property   25.01   University Park Tech Center VII   78249   2008   NAP   58,700   Sq. Ft.   136           T-12 2/29/2016   1,243,938   322,517   921,421
Property   25.02   ICE Office Building   46278   1983   2015   15,193   Sq. Ft.   237                        
Loan   26   Watt Towne Center   95660   1972-1985   NAP   137,213   Sq. Ft.   75       L(24), YM1(91), O(5)   T-12 6/30/2016   1,261,267   363,716   897,551
Loan   27   Palms Apartment Portfolio   Various   Various   2015   372   Units   26,308       L(25), D(91), O(4)   T-12 6/30/2016   4,108,188   2,856,111   1,252,077
Property   27.01   Palm Shadows Apartments   85014   1972   2015   130   Units   31,342           T-12 6/30/2016   1,478,680   965,867   512,812
Property   27.02   Siesta Palms Apartments   85017   1974   2015   123   Units   25,437           T-12 6/30/2016   1,334,046   920,006   414,041
Property   27.03   Twin Palms Apartments   85017   1974   2015   119   Units   21,710           T-12 6/30/2016   1,295,463   970,238   325,224
Loan   28   18200 W. Bluemound Road   53045   1992   2015   109,325   Sq. Ft.   88       L(25), D(91), O(4)                
Loan   29   Stone Ridge Apartments   86429   1990   NAP   204   Units   46,802       L(25), D(91), O(4)   T-12 6/30/2016   1,602,893   683,941   918,953
Loan   30   Broadway Industrial   91406   1953-1987   NAP   103,981   Sq. Ft.   84       L(25), D(32), O(3)   T-12 6/30/2016   978,301   174,272   804,029
Loan   31   Uniek Industrial   53597   1988, 1990-2001   2009-2012   249,950   Sq. Ft.   35       L(25), D(92), O(3)   T-12 7/31/2016   1,090,043   22,500   1,067,543
Loan   32   Pottery Barn Green Hills   37215   2016   NAP   21,685   Sq. Ft.   367       L(27), D(90), O(3)                
Loan   33   Mid-City Storage & Apartments   70119   1953   2006   197,690   Sq. Ft.   40       L(30), D(26), O(4)   12/31/2015   2,002,632   899,721   1,102,912
Loan   34   The Brickyard   95747   1989   2012-2015   36,350   Sq. Ft.   206       L(27), D(89), O(4)   T-12 6/30/2016   1,286,411   461,783   824,628
Loan   35   USC Student Housing Portfolio   90007   Various   Various   60   Units   118,750       L(39), D(78), O(3)   T-12 7/31/2016   978,936   311,736   667,200
Property   35.01   Tropicana Student Housing   90007   1927   2010   30   Units   123,464           T-12 7/31/2016   503,965   160,494   343,471
Property   35.02   Chateau Sera Student Housing   90007   1910   2009   30   Units   114,036           T-12 7/31/2016   474,970   151,242   323,729
Loan   36   Comfort Inn Jamestown   14701   1986   2013   99   Rooms   69,714       L(33), D(83), O(4)   T-12 6/30/2016   1,789,280   1,089,976   699,304
Loan   37   Shops at Cinco Ranch   77494   2015   NAP   26,721   Sq. Ft.   254       L(26), D(91), O(3)                
Loan   38   Memphis Industrial   38133   1988   1994   262,700   Sq. Ft.   26       L(26), D(89), O(5)   T-12 5/31/2016   1,627,191   472,522   1,154,669
Loan   39   LA Fitness Austin   78748   2016   NAP   36,977   Sq. Ft.   171       L(24), D(93), O(3)                
Loan   40   Glenbrook Square   77087   1970   2011   77,890   Sq. Ft.   79       L(25), D(91), O(4)   T-12 6/30/2016   1,132,785   485,580   647,205
Loan   41   Creedmoor Commons   27522   2005   NAP   62,674   Sq. Ft.   91       L(32), D(85), O(3)   T-12 6/30/2016   773,842   170,795   603,047
Loan   42   217 & 233 West Huron   60654   1894   2006   13,720   Sq. Ft.   341       L(31), D(85), O(4)   T-12 7/31/2016   614,973   223,317   391,656

 

A-1-5 

 

 

COMM 2016-COR1

 

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

                                                         
            Second Most   Second   Second   Second   Third Most   Third   Third   Third                
            Recent Operating   Most Recent   Most Recent   Most Recent   Recent Operating   Most Recent   Most Recent   Most Recent   Underwritten NOI   Underwritten NCF    Underwritten    Underwritten
Property Flag   ID   Property Name   Statements Date   EGI($)   Expenses($)   NOI($)   Statements Date   EGI($)   Expenses($)   NOI($)   Debt Yield(11)(12)   Debt Yield(11)(12)    Revenue($)    EGI($)
Loan   1   Glendale Fashion Center (34)   12/31/2015   9,213,548   2,172,903   7,040,645   12/31/2014   8,890,330   2,102,999   6,787,331   8.0%   7.8%   7,330,821   8,988,937
Loan   2   Champion Station                                   9.5%   8.8%   8,460,618   10,235,418
Loan   3   286 Madison Avenue   12/31/2015   6,720,561   2,976,388   3,744,173   12/31/2014   6,636,080   2,933,473   3,702,607   7.4%   7.1%   7,379,529   7,553,517
Loan   4   Hilton San Diego Mission Valley   12/31/2015   19,490,787   13,124,007   6,366,780                   11.4%   10.0%   14,946,750   19,770,073
Loan   5   Starbucks Center (33)(35)   12/31/2015   23,257,602   7,084,361   16,173,241   12/31/2014   23,444,437   6,920,178   16,524,259   12.3%   11.3%   17,080,784   24,472,536
Loan   6   Prudential Plaza (33)(35)   12/31/2015   53,321,676   32,167,828   21,153,848   12/31/2014   50,276,294   28,845,540   21,430,754   9.8%   8.9%   58,098,491   72,445,707
Loan   7   Comcast Place                                   11.9%   11.5%   5,746,776   6,265,847
Loan   8   The Renaissance Retail Condo   12/31/2015   2,485,476   382,852   2,102,624   12/31/2014   2,483,107   309,940   2,173,167   7.6%   7.4%   2,698,404   3,241,688
Loan   9   Spyglass Apartments (34)   T-12 8/31/2016   4,086,940   1,731,866   2,355,074   T-12 7/31/2016   3,917,216   1,716,112   2,201,104   8.3%   8.1%   4,201,464   4,241,531
Loan   10   Redmond Woods (34)   12/31/2015   2,784,429   911,077   1,873,352   12/31/2014   2,831,941   861,719   1,970,222   10.1%   9.4%   3,084,048   3,770,588
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   12/31/2015   13,128,686   9,251,748   3,876,938   12/31/2014   11,166,631   8,243,564   2,923,067   14.1%   12.1%   9,827,214   13,245,559
Loan   12   Westfield San Francisco Centre (33)   12/31/2015   88,603,550   37,649,371   50,954,179   12/31/2014   84,621,362   36,493,338   48,128,023   13.1%   12.7%   58,964,187   95,016,729
Loan   13   Brea Portfolio   12/31/2015   2,072,949   520,615   1,552,334   12/31/2014   2,124,025   530,417   1,593,608   7.9%   7.7%   2,070,468   2,300,791
Loan   14   Mt Diablo Terrace   12/31/2015   2,543,785   968,709   1,575,076   12/31/2014   2,411,972   1,145,404   1,266,568   8.9%   8.2%   2,942,791   2,867,688
Loan   15   ACME Hotel   12/31/2015   6,788,223   4,139,304   2,648,919   12/31/2014   6,342,716   3,794,519   2,548,197   11.5%   10.2%   6,027,099   6,519,586
Loan   16   Adobe Springs   12/31/2015   3,493,895   1,727,896   1,765,999   12/31/2014   3,063,948   1,592,307   1,471,641   9.5%   8.9%   3,461,415   3,646,569
Loan   17   Crosslake Industrial Portfolio   12/31/2015   3,052,578   1,076,868   1,975,710   12/31/2014   3,443,320   1,201,241   2,242,079   12.6%   10.7%   3,365,371   3,687,904
Property   17.01   3056 Walker   12/31/2015   1,096,926   305,245   791,680   12/31/2014   1,176,460   321,230   855,230           1,009,079   1,180,880
Property   17.02   1100 Hynes Avenue   12/31/2015   494,059   258,838   235,221   12/31/2014   569,327   285,664   283,663           799,706   862,773
Property   17.03   2966 Wilson   12/31/2015   666,351   191,063   475,288   12/31/2014   762,973   252,791   510,182           604,365   731,759
Property   17.04   1269 East Mount   12/31/2015   571,234   185,482   385,752   12/31/2014   699,798   196,467   503,332           615,541   697,030
Property   17.05   3111 Wilson   12/31/2015   224,008   136,239   87,770   12/31/2014   234,762   145,089   89,672           336,681   215,463
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   12/31/2014   6,315,678   4,004,249   2,311,429   12/31/2013   5,835,126   3,604,898   2,230,228   11.7%   10.3%   5,576,747   6,713,541
Loan   19   GM Office Building   12/31/2015   4,017,393   732,329   3,285,064   12/31/2014   3,840,402   653,266   3,187,135   13.9%   12.5%   3,839,426   3,683,832
Loan   20   Grant and Geary Center   12/31/2014   4,854,892   2,300,564   2,554,328   12/31/2013   4,289,062   2,364,155   1,924,907   21.4%   18.7%   6,309,884   6,293,952
Loan   21   Hagerstown Premium Outlets (33)   12/31/2015   15,740,295   4,539,055   11,201,240   12/31/2014   15,977,634   4,932,414   11,045,220   14.8%   13.8%   11,086,119   16,370,416
Loan   22   Birch Run Premium Outlets (33)   12/31/2015   21,147,973   4,671,555   16,476,418   12/31/2014   20,299,152   4,748,944   15,550,208   13.2%   12.4%   16,959,668   21,540,481
Loan   23   Franklin Square   12/31/2015   2,105,083   462,064   1,643,018   12/31/2014   2,166,193   443,231   1,722,962   11.4%   10.7%   1,887,064   2,143,843
Loan   24   Greenwich Portfolio (34)   12/31/2014   1,376,020   261,968   1,114,052                   8.3%   8.1%   1,430,494   1,567,747
Loan   25   GSA & KCI Portfolio   12/31/2015   1,223,870   320,508   903,362   12/31/2014   1,214,964   309,853   905,112   9.8%   9.2%   1,397,603   1,624,108
Property   25.01   University Park Tech Center VII   12/31/2015   1,223,870   320,508   903,362   12/31/2014   1,214,964   309,853   905,112           906,915   1,133,420
Property   25.02   ICE Office Building                                           490,688   490,688
Loan   26   Watt Towne Center   12/31/2015   1,333,733   399,340   934,393   12/31/2014   1,206,965   405,923   801,042   9.7%   9.0%   1,129,994   1,436,659
Loan   27   Palms Apartment Portfolio   12/31/2015   3,954,877   2,760,475   1,194,403   12/31/2014   3,497,555   2,586,937   910,618   12.1%   10.8%   4,634,460   4,108,188
Property   27.01   Palm Shadows Apartments   12/31/2015   1,446,315   976,260   470,055   12/31/2014   1,324,230   891,390   432,839           1,712,175   1,478,679
Property   27.02   Siesta Palms Apartments   12/31/2015   1,289,684   868,754   420,930   12/31/2014   1,147,180   849,481   297,699           1,519,443   1,334,046
Property   27.03   Twin Palms Apartments   12/31/2015   1,218,878   915,460   303,418   12/31/2014   1,026,145   846,065   180,080           1,402,842   1,295,462
Loan   28   18200 W. Bluemound Road                                   9.1%   8.5%   958,665   1,263,410
Loan   29   Stone Ridge Apartments   12/31/2015   1,591,545   684,807   906,738   12/31/2014   1,499,588   675,976   823,612   9.6%   8.9%   1,566,156   1,595,397
Loan   30   Broadway Industrial   12/31/2015   965,861   170,954   794,907   12/31/2014   928,808   169,053   759,755   8.9%   8.6%   879,846   968,390
Loan   31   Uniek Industrial   12/31/2015   1,147,151   12,000   1,135,151   12/31/2014   1,121,522   12,000   1,109,522   10.8%   9.7%   1,070,156   963,140
Loan   32   Pottery Barn Green Hills                                   8.4%   8.3%   709,335   841,136
Loan   33   Mid-City Storage & Apartments   12/31/2014   1,990,002   985,098   1,004,904   12/31/2013   1,984,193   1,056,212   927,981   12.5%   11.6%   2,028,532   2,097,345
Loan   34   The Brickyard   12/31/2015   1,257,648   405,764   851,884   12/31/2014   1,170,197   422,317   747,881   11.4%   10.7%   964,681   1,295,585
Loan   35   USC Student Housing Portfolio   12/31/2015   929,129   307,144   621,985   12/31/2014   899,303   313,404   585,899   8.3%   8.1%   1,005,912   984,853
Property   35.01   Tropicana Student Housing   12/31/2015   471,653   160,321   311,331   12/31/2014   445,103   148,733   296,370           520,956   513,031
Property   35.02   Chateau Sera Student Housing   12/31/2015   457,477   146,822   310,654   12/31/2014   454,200   164,671   289,529           484,956   471,822
Loan   36   Comfort Inn Jamestown   12/31/2015   1,903,688   1,184,062   719,626   12/31/2014   2,206,177   1,247,872   958,305   11.6%   10.5%   1,853,369   1,900,767
Loan   37   Shops at Cinco Ranch                                   10.8%   10.1%   787,359   1,070,316
Loan   38   Memphis Industrial   12/31/2015   1,607,553   442,603   1,164,950   12/31/2014   1,548,498   476,741   1,071,757   14.6%   12.6%   1,287,810   1,436,056
Loan   39   LA Fitness Austin                                   9.5%   9.3%   661,930   842,667
Loan   40   Glenbrook Square   12/31/2015   1,167,895   482,335   685,560   12/31/2014   1,058,384   416,621   641,763   9.7%   9.3%   812,722   1,020,628
Loan   41   Creedmoor Commons   12/31/2015   730,424   179,451   550,973   12/31/2014   721,333   169,167   552,166   11.1%   9.8%   733,323   796,960
Loan   42   217 & 233 West Huron   12/31/2015   474,837   196,324   278,513   12/31/2014   572,248   142,148   430,100   9.9%   9.5%   502,701   668,983

  

A-1-6 

 

 

COMM 2016-COR1

 

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

                                             
             Underwritten    Underwritten    Underwritten   Underwritten   Underwritten   Ownership   Ground Lease   Ground Lease    
Property Flag   ID   Property Name    Expenses($)    NOI($)    Reserves($)   TI/LC($)   NCF ($)   Interest    Expiration(18)    Extension Terms(18)   Largest Tenant(19)(21)(22)(23)(24)
Loan   1   Glendale Fashion Center (34)   2,388,748   6,600,189   65,971   131,941   6,402,277   Fee Simple/Leasehold   04/28/2031   Six, 10-year options and one, Nine-year option   Ralph’s Supermarket
Loan   2   Champion Station   2,654,698   7,580,720   71,843   502,899   7,005,978   Fee Simple           Silver Spring Networks
Loan   3   286 Madison Avenue   3,133,989   4,419,529   25,649   128,244   4,265,636   Fee Simple           Real Foundation, Inc
Loan   4   Hilton San Diego Mission Valley   13,220,783   6,549,291   790,803       5,758,488   Fee Simple           NAP
Loan   5   Starbucks Center (33)(35)   7,275,564   17,196,971   301,343   1,105,746   15,789,882   Fee Simple           Starbucks
Loan   6   Prudential Plaza (33)(35)   31,880,029   40,565,678   572,052   3,178,168   36,815,458   Fee Simple           Wilson Sporting Goods Co.
Loan   7   Comcast Place   2,064,948   4,200,900   54,908   85,050   4,060,942   Fee Simple           Comcast Corporation
Loan   8   The Renaissance Retail Condo   853,338   2,388,350   24,298   18,224   2,345,828   Fee Simple           Imperial Parking
Loan   9   Spyglass Apartments (34)   1,736,750   2,504,781   63,000       2,441,781   Fee Simple           NAP
Loan   10   Redmond Woods (34)   1,067,667   2,702,921   29,044   167,004   2,506,873   Fee Simple           Microsoft Corporation
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   9,591,017   3,654,543   531,170       3,123,372   Leasehold   10/31/2067   None   NAP
Loan   12   Westfield San Francisco Centre (33)   38,462,539   56,554,190   157,864   1,578,636   54,817,690   Fee Simple/Leasehold   06/30/2043   One, 15-year option   San Francisco State University
Loan   13   Brea Portfolio   555,978   1,744,813   9,998   47,608   1,687,207   Fee Simple           Yard House
Loan   14   Mt Diablo Terrace   994,049   1,873,639   16,311   135,733   1,721,595   Fee Simple           NFP CA Insurance Company
Loan   15   ACME Hotel   4,214,977   2,304,609   260,783       2,043,825   Fee Simple           NAP
Loan   16   Adobe Springs   1,753,481   1,893,088   122,400       1,770,688   Fee Simple           NAP
Loan   17   Crosslake Industrial Portfolio   1,173,136   2,514,767   113,236   258,278   2,143,253   Fee Simple            
Property   17.01   3056 Walker   350,691   830,189   33,513   87,716   708,960   Fee Simple           Tubelite, Inc.
Property   17.02   1100 Hynes Avenue   272,158   590,614   21,505   47,913   521,196   Fee Simple           Eagle Film Extruders Inc.
Property   17.03   2966 Wilson   215,515   516,244   20,019   56,734   439,491   Fee Simple           Pipp Mobile Storage Systems, Inc.
Property   17.04   1269 East Mount   200,065   496,964   27,500   48,892   420,572   Fee Simple           Wacker Neuson
Property   17.05   3111 Wilson   134,707   80,756   10,700   17,023   53,033   Fee Simple           Premier Protective Packaging, Inc.
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   4,509,733   2,203,809   268,542       1,935,267   Fee Simple           NAP
Loan   19   GM Office Building   1,159,010   2,524,822   40,000   200,000   2,284,822   Fee Simple           General Motors LLC
Loan   20   Grant and Geary Center   2,593,899   3,700,053   30,280   431,187   3,238,586   Leasehold   01/01/2043   None   Mulesoft Inc.
Loan   21   Hagerstown Premium Outlets (33)   4,999,235   11,371,181   121,249   609,006   10,640,926   Fee Simple           Wolf Furniture and Outlet
Loan   22   Birch Run Premium Outlets (33)   5,266,315   16,274,165   204,001   860,362   15,209,802   Fee Simple           Pottery Barn
Loan   23   Franklin Square   510,170   1,633,673   33,560   67,119   1,532,994   Fee Simple           Ashley Furniture
Loan   24   Greenwich Portfolio (34)   428,548   1,139,199   20,828   5,951   1,112,421   Fee Simple           Gabriele’s Italian Steakhouse
Loan   25   GSA & KCI Portfolio   491,259   1,132,848   18,473   44,336   1,070,039   Fee Simple            
Property   25.01   University Park Tech Center VII   352,440   780,980   14,675   35,220   731,085   Fee Simple           KCI USA, Inc.
Property   25.02   ICE Office Building   138,820   351,868   3,798   9,116   338,954   Fee Simple           US Immigration and Customs Enforcement (GSA)
Loan   26   Watt Towne Center   437,893   998,766   34,304   39,679   924,783   Fee Simple           Big Lots LXD
Loan   27   Palms Apartment Portfolio   2,923,634   1,184,554   130,550       1,054,004   Fee Simple            
Property   27.01   Palm Shadows Apartments   994,365   484,314   45,500       438,814   Fee Simple           NAP
Property   27.02   Siesta Palms Apartments   941,421   392,625   43,400       349,225   Fee Simple           NAP
Property   27.03   Twin Palms Apartments   987,848   307,614   41,650       265,964   Fee Simple           NAP
Loan   28   18200 W. Bluemound Road   390,405   873,005   21,865   36,077   815,062   Fee Simple           Hobby Lobby
Loan   29   Stone Ridge Apartments   676,114   919,283   66,129       853,154   Fee Simple           NAP
Loan   30   Broadway Industrial   188,958   779,432   28,075       751,358   Fee Simple           Standard Tool and Dye Company
Loan   31   Uniek Industrial   33,710   929,430   24,995   62,488   841,948   Fee Simple           Uniek, Inc.
Loan   32   Pottery Barn Green Hills   175,628   665,508   4,337       661,171   Fee Simple           Pottery Barn
Loan   33   Mid-City Storage & Apartments   1,119,951   977,395   68,619       908,776   Fee Simple           NAP
Loan   34   The Brickyard   438,150   857,435   9,088   43,620   804,727   Fee Simple           Round Table Pizza
Loan   35   USC Student Housing Portfolio   390,504   594,349   20,460       573,889   Fee Simple            
Property   35.01   Tropicana Student Housing   198,219   314,812   8,430       306,382   Fee Simple           NAP
Property   35.02   Chateau Sera Student Housing   192,284   279,537   12,030       267,507   Fee Simple           NAP
Loan   36   Comfort Inn Jamestown   1,102,206   798,561   76,031       722,531   Fee Simple           NAP
Loan   37   Shops at Cinco Ranch   339,290   731,026   6,680   40,082   684,264   Fee Simple           Pet Supplies Plus
Loan   38   Memphis Industrial   442,511   993,545   52,540   83,830   857,174   Fee Simple           Varsity Brands, Inc.
Loan   39   LA Fitness Austin   244,821   597,846   9,244       588,602   Fee Simple           LA Fitness
Loan   40   Glenbrook Square   419,186   601,442   14,688   13,470   573,283   Fee Simple           Kroger
Loan   41   Creedmoor Commons   161,748   635,212   12,535   62,674   560,003   Fee Simple           Food Lion
Loan   42   217 & 233 West Huron   205,476   463,506   2,744   16,627   444,136   Fee Simple           Chicago Children’s House Child Care

  

A-1-7 

 

 

COMM 2016-COR1

 

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

                                                 
                Lease           Lease           Lease        
Property Flag   ID   Property Name   SF     Expiration   2nd Largest Tenant(21)(22)(23)(24)   SF   Expiration   3rd Largest Tenant(21)(23)(24)   SF   Expiration   4th Largest Tenant(20)(22)(23)   SF
Loan   1   Glendale Fashion Center (34)   50,000   3/31/2025   Nordstrom Rack   37,140   6/30/2025   Ross Dress for Less   32,100   1/31/2021   TJ Maxx   25,000
Loan   2   Champion Station   191,423   9/30/2026   ForeScout Technologies, Inc.   95,948   10/31/2026   NAP   NAP   NAP   NAP   NAP
Loan   3   286 Madison Avenue   5,646   03/31/2021   JA Mitsui Leasing Capital   5,646   03/31/2025   eClerx LLC   5,646   01/31/2018   Certified Moving & Storage Co.   5,222
Loan   4   Hilton San Diego Mission Valley   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   5   Starbucks Center (33)(35)   1,151,196   09/30/2025   Home Depot   108,000   01/31/2019   Confidential IG Tenant   45,567   04/01/2026   Screamer   7,520
Loan   6   Prudential Plaza (33)(35)   87,386   12/31/2029   Optiver US LLC   73,779   04/30/2023   Clark Hill   71,813   12/31/2032   Leydig, Voit & Mayer, Ltd.   66,783
Loan   7   Comcast Place   219,631   12/31/2023   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   8   The Renaissance Retail Condo   60,000   10/31/2021   Fine Fare Supermarket   23,053   09/30/2031   CVS   12,331   01/31/2022   Harlem Children’s Zone   4,954
Loan   9   Spyglass Apartments (34)   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   10   Redmond Woods (34)   39,832   04/30/2022   WarGaming   26,113   09/30/2019   Mindtree   20,907   06/30/2020   Infosys Limited   20,458
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   12   Westfield San Francisco Centre (33)   125,483   12/31/2021   Crunchyroll, Inc.   71,614   01/31/2020   Century Theatres   52,636   09/30/2021   Bespoke   36,977
Loan   13   Brea Portfolio   12,585   3/31/2027   Buffalo Wild Wings   6,804   9/1/2033   Armed Services Career Center   5,866   2/17/2019   Lillie’s BBQ   4,780
Loan   14   Mt Diablo Terrace   12,291   02/29/2020   John Muir Mt. Diablo   8,220   12/31/2024   Robert Marino   8,116   12/31/2019   Comyns Smith McCleary & Deaver   6,487
Loan   15   ACME Hotel   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   16   Adobe Springs   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   17   Crosslake Industrial Portfolio                                        
Property   17.01   3056 Walker   156,250   9/30/2018   NBHX Trim USA Corp   72,875   5/31/2020   Advanced Fabricating Technology, LLC   59,625   10/31/2017   Distribution International Southwest, Inc.   26,500
Property   17.02   1100 Hynes Avenue   140,000   12/31/2023   Brenntag Great Lakes, LLC   40,050   6/30/2021   E-Agile   35,000   8/31/2019   NAP   NAP
Property   17.03   2966 Wilson   130,188   12/31/2021   Classic Transportation Services, Inc.   70,000   12/31/2016   NAP   NAP   NAP   NAP   NAP
Property   17.04   1269 East Mount   93,750   12/31/2016   Intelligent Machine Solutions   56,250   8/31/2024   Lakeshore Technologies, LLC   48,750   1/31/2022   Essentra Plastics LLC   31,875
Property   17.05   3111 Wilson   56,250   5/31/2019   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   19   GM Office Building   200,000   12/31/2021   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   20   Grant and Geary Center   43,344   08/31/2021   American Conservatory Theater   25,963   08/31/2023   TechSpace   25,616   08/31/2025   Nespresso USA   14,802
Loan   21   Hagerstown Premium Outlets (33)   66,829   05/31/2019   Nike Factory Store   13,425   07/31/2019   Reebok / Rockport Outlet   9,911   07/31/2018   Under Armour   9,532
Loan   22   Birch Run Premium Outlets (33)   30,000   01/31/2023   V.F. Factory Outlet   23,975   12/31/2018   Old Navy   19,589   07/31/2017   Nike Factory Store   12,500
Loan   23   Franklin Square   34,682   5/12/2022   HH Gregg   30,000   1/31/2022   Monkey Joe’s/TMA Play   12,632   8/31/2025   Gold’s Gym   8,979
Loan   24   Greenwich Portfolio (34)   12,415   09/08/2046   Dance Adventure, Inc.   4,500   02/28/2017   The Children’s Medical Group of Greenwich, P.C   3,000   12/31/2018   Christopher M. Edelmann, MD   1,866
Loan   25   GSA & KCI Portfolio                                        
Property   25.01   University Park Tech Center VII   58,700   3/31/2023   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Property   25.02   ICE Office Building   15,193   2/8/2031   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   26   Watt Towne Center   29,685   01/31/2023   DD Discounts   27,176   01/31/2020   Dollar Tree   22,772   01/31/2019   Fitness Evolution   20,000
Loan   27   Palms Apartment Portfolio                                        
Property   27.01   Palm Shadows Apartments   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Property   27.02   Siesta Palms Apartments   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Property   27.03   Twin Palms Apartments   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   28   18200 W. Bluemound Road   55,985   09/30/2025   Dunham’s Sports   53,340   01/31/2030   NAP   NAP   NAP   NAP   NAP
Loan   29   Stone Ridge Apartments   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   30   Broadway Industrial   103,981   06/30/2030   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   31   Uniek Industrial   249,950   12/31/2027   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   32   Pottery Barn Green Hills   21,685   1/31/2032   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   33   Mid-City Storage & Apartments   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   34   The Brickyard   4,500   12/31/2019   Bank Of America   4,000   3/31/2019   El Azteca Tacqueria   3,769   5/31/2018   Panda Restaurant   2,450
Loan   35   USC Student Housing Portfolio                                        
Property   35.01   Tropicana Student Housing   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Property   35.02   Chateau Sera Student Housing   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   36   Comfort Inn Jamestown   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   37   Shops at Cinco Ranch   8,000   11/30/2025   Bingle Vet   2,891   11/30/2021   Cross Creek Smiles   2,670   12/31/2025   Blackburn Orthodontics   2,500
Loan   38   Memphis Industrial   205,277   10/31/2020   SCP Distributors LLC   25,641   04/30/2017   Brimhall Foods Co., Inc.   16,800   MTM   Jokama Wholesale Flooring LLC   14,982
Loan   39   LA Fitness Austin   36,977   08/30/2031   NAP   NAP   NAP   NAP   NAP   NAP   NAP   NAP
Loan   40   Glenbrook Square   47,135   01/31/2020   Jamboree Denistry   4,000   10/31/2021   City Gear   3,933   09/30/2019   EZ Pawn   2,823
Loan   41   Creedmoor Commons   38,274   9/30/2025   Family Dollar   8,800   6/30/2020   USPS   4,500   7/31/2020   Computer Plus   3,600
Loan   42   217 & 233 West Huron   8,000   03/31/2022   Bar Lupo Italian Pub   5,720   10/31/2024   NAP   NAP   NAP   NAP   NAP

  

A-1-8 

 

 

COMM 2016-COR1

 

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

                                     
                                    Upfront
            Lease           Lease       Occupancy   Replacement
Property Flag   ID   Property Name   Expiration   5th Largest Tenant(21)   SF   Expiration   Occupancy(5)(24)   As-of Date   Reserves($)(26)
Loan   1   Glendale Fashion Center (34)   2/28/2019   Staples   24,000   4/30/2020   100.0%   06/01/2016    
Loan   2   Champion Station   NAP   NAP   NAP   NAP   100.0%   08/01/2016   45,000
Loan   3   286 Madison Avenue   09/30/2020   Local Thyme   5,124   06/30/2024   86.6%   08/01/2016    
Loan   4   Hilton San Diego Mission Valley   NAP   NAP   NAP   NAP   81.0%   07/31/2016    
Loan   5   Starbucks Center (33)(35)   01/31/2018   Intiman   5,000   MTM   93.0%   08/01/2016    
Loan   6   Prudential Plaza (33)(35)   09/30/2025   CBS Radio Holdings Corp.   63,453   04/30/2028   79.7%   07/31/2016   2,525,657
Loan   7   Comcast Place   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   8   The Renaissance Retail Condo   08/31/2021   Flynn & O’Hara   3,270   03/31/2019   100.0%   08/01/2016    
Loan   9   Spyglass Apartments (34)   NAP   NAP   NAP   NAP   94.0%   08/31/2016    
Loan   10   Redmond Woods (34)   04/30/2020   Nokia   13,563   11/30/2019   100.0%   09/01/2016    
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   NAP   NAP   NAP   NAP   85.6%   06/30/2016   108,502
Loan   12   Westfield San Francisco Centre (33)   12/31/2021   True Ultimate Standards Every   28,217   02/29/2020   95.6%   04/30/2016    
Loan   13   Brea Portfolio   8/8/2024   Massage Envy   3,723   1/31/2018   89.8%   08/01/2016    
Loan   14   Mt Diablo Terrace   10/31/2018   Lafayette Physical Therapists   6,251   02/28/2022   98.5%   09/01/2016    
Loan   15   ACME Hotel   NAP   NAP   NAP   NAP   78.2%   06/30/2016    
Loan   16   Adobe Springs   NAP   NAP   NAP   NAP   95.3%   06/24/2016   1,000,000
Loan   17   Crosslake Industrial Portfolio                   93.4%   08/01/2016    
Property   17.01   3056 Walker   6/23/2021   Hardwoods Specialty Products US LP   19,875   6/30/2018   100.0%   08/01/2016    
Property   17.02   1100 Hynes Avenue   NAP   NAP   NAP   NAP   100.0%   08/01/2016    
Property   17.03   2966 Wilson   NAP   NAP   NAP   NAP   100.0%   08/01/2016    
Property   17.04   1269 East Mount   12/31/2022   SR Industries LLC   20,000   12/31/2020   91.1%   08/01/2016    
Property   17.05   3111 Wilson   NAP   NAP   NAP   NAP   52.6%   08/01/2016    
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   NAP   NAP   NAP   NAP   63.4%   12/31/2015    
Loan   19   GM Office Building   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   20   Grant and Geary Center   06/30/2027   Ted Baker   4,000   05/31/2019   98.0%   04/01/2016    
Loan   21   Hagerstown Premium Outlets (33)   07/31/2023   Dress Barn   8,978   12/31/2018   90.4%   05/10/2016    
Loan   22   Birch Run Premium Outlets (33)   01/31/2020   Levi’s Outlet   12,398   01/31/2020   87.0%   05/31/2016    
Loan   23   Franklin Square   10/2/2016   Burn Boot Camp   5,295   4/15/2026   94.1%   05/19/2016    
Loan   24   Greenwich Portfolio (34)   12/31/2020   Serene Journey Day Spa   1,305   12/31/2018   93.8%   09/01/2016    
Loan   25   GSA & KCI Portfolio                   100.0%   10/06/2016    
Property   25.01   University Park Tech Center VII   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Property   25.02   ICE Office Building   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   26   Watt Towne Center   01/31/2020   Citi Trends   11,760   12/31/2016   97.8%   08/02/2016    
Loan   27   Palms Apartment Portfolio                   92.2%   05/10/2016    
Property   27.01   Palm Shadows Apartments   NAP   NAP   NAP   NAP   92.3%   05/10/2016    
Property   27.02   Siesta Palms Apartments   NAP   NAP   NAP   NAP   92.7%   05/10/2016    
Property   27.03   Twin Palms Apartments   NAP   NAP   NAP   NAP   91.6%   05/10/2016    
Loan   28   18200 W. Bluemound Road   NAP   NAP   NAP   NAP   100.0%   08/01/2016    
Loan   29   Stone Ridge Apartments   NAP   NAP   NAP   NAP   92.1%   08/15/2016    
Loan   30   Broadway Industrial   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   31   Uniek Industrial   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   32   Pottery Barn Green Hills   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   33   Mid-City Storage & Apartments   NAP   NAP   NAP   NAP   89.6%   08/18/2016    
Loan   34   The Brickyard   12/31/2020   Vimal Dulabh, DDS (dba Family Dental)   1,734   8/6/2024   96.1%   06/30/2016    
Loan   35   USC Student Housing Portfolio                   100.0%   06/30/2016   27,500
Property   35.01   Tropicana Student Housing   NAP   NAP   NAP   NAP   100.0%   06/30/2016    
Property   35.02   Chateau Sera Student Housing   NAP   NAP   NAP   NAP   100.0%   06/30/2016    
Loan   36   Comfort Inn Jamestown   NAP   NAP   NAP   NAP   52.8%   06/30/2016    
Loan   37   Shops at Cinco Ranch   03/31/2026   RE/MAX Grand   2,100   01/30/2021   100.0%   08/01/2016    
Loan   38   Memphis Industrial   09/30/2018   NAP   NAP   NAP   100.0%   07/31/2016    
Loan   39   LA Fitness Austin   NAP   NAP   NAP   NAP   100.0%   10/06/2016    
Loan   40   Glenbrook Square   10/31/2017   Dr. Marc Gold (TSO)   1,788   06/30/2021   90.1%   08/01/2016    
Loan   41   Creedmoor Commons   MTM   Subway   1,500   12/31/2021   97.6%   07/01/2016    
Loan   42   217 & 233 West Huron   NAP   NAP   NAP   NAP   100.0%   08/01/2016    

  

A-1-9 

 

 

COMM 2016-COR1

 

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

                         
            Monthly   Upfront   Monthly   Upfront
            Replacement   TI/LC   TI/LC   Tax
Property Flag   ID   Property Name   Reserves ($)(27)(30)   Reserves ($)(26)   Reserves ($)(27)(29)(30)   Reserves ($)(26)
Loan   1   Glendale Fashion Center (34)   5,498       10,995   196,735
Loan   2   Champion Station   5,987   4,134,415       745,000
Loan   3   286 Madison Avenue   2,137   2,600,000   Springing   300,000
Loan   4   Hilton San Diego Mission Valley   $65,540 for the Payment Dates occurring in August 2016 through July 2017; thereafter, the greater of (a) the monthly amount required to be reserved pursuant to the Franchise Agreement for Approved Capital/FF&E Expenses or (b) 1/12 of 4% of the Rents for the previous twelve month period as determined on the anniversary of the last day of the calendar month in which the closing occurs.           202,000
Loan   5   Starbucks Center (33)(35)   25,112   455,670   Springing   13,389
Loan   6   Prudential Plaza (33)(35)   47,671   21,489,422       1,134,682
Loan   7   Comcast Place   4,576       Springing   101,422
Loan   8   The Renaissance Retail Condo   2,025       7,600   80,000
Loan   9   Spyglass Apartments (34)   5,250           186,518
Loan   10   Redmond Woods (34)   1,936       13,917    
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   4% of total monthly gross revenue and $2,708           75,000
Loan   12   Westfield San Francisco Centre (33)   Springing       Springing    
Loan   13   Brea Portfolio   870       4,055   120,000
Loan   14   Mt Diablo Terrace   1,359   385,835   Springing   120,000
Loan   15   ACME Hotel   1/12 of 4% of annual operating income           95,661
Loan   16   Adobe Springs   10,098           150,000
Loan   17   Crosslake Industrial Portfolio   9,436   1,000,000   23,591   125,190
Property   17.01   3056 Walker                
Property   17.02   1100 Hynes Avenue                
Property   17.03   2966 Wilson                
Property   17.04   1269 East Mount                
Property   17.05   3111 Wilson                
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   1/12 of 4% of annual operating income           39,428
Loan   19   GM Office Building   3,333   2,556,105   16,667   21,000
Loan   20   Grant and Geary Center   2,503           90,000
Loan   21   Hagerstown Premium Outlets (33)   Springing       Springing    
Loan   22   Birch Run Premium Outlets (33)   Springing       Springing    
Loan   23   Franklin Square   2,797   169,400   5,593   51,014
Loan   24   Greenwich Portfolio (34)   1,736       496    
Loan   25   GSA & KCI Portfolio   1,539   36,877   3,695   103,000
Property   25.01   University Park Tech Center VII                
Property   25.02   ICE Office Building                
Loan   26   Watt Towne Center   2,859   425,000   13,722   91,607
Loan   27   Palms Apartment Portfolio               61,499
Property   27.01   Palm Shadows Apartments                
Property   27.02   Siesta Palms Apartments                
Property   27.03   Twin Palms Apartments                
Loan   28   18200 W. Bluemound Road   1,822       4,555   52,530
Loan   29   Stone Ridge Apartments   5,508           21,728
Loan   30   Broadway Industrial   2,340       1,733   84,000
Loan   31   Uniek Industrial   2,083   450,000   5,207    
Loan   32   Pottery Barn Green Hills   361           40,169
Loan   33   Mid-City Storage & Apartments   5,247           60,000
Loan   34   The Brickyard   757       3,635   27,000
Loan   35   USC Student Housing Portfolio   1,705           33,000
Property   35.01   Tropicana Student Housing                
Property   35.02   Chateau Sera Student Housing                
Loan   36   Comfort Inn Jamestown   1/12 of 4% of annual operating income           75,000
Loan   37   Shops at Cinco Ranch   445       3,340   58,300
Loan   38   Memphis Industrial   4,378   200,000   4,378    
Loan   39   LA Fitness Austin   771           132,200
Loan   40   Glenbrook Square   1,224   350,000   7,038   154,201
Loan   41   Creedmoor Commons   1,045       5,223   14,037
Loan   42   217 & 233 West Huron   229       1,143   87,000

  

A-1-10 

 

 

COMM 2016-COR1

 

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

 

                                 
            Monthly   Upfront   Monthly   Upfront   Upfront   Monthly
            Tax   Insurance   Insurance   Engineering   Other   Other
Property Flag   ID   Property Name   Reserves ($)(27)(30)   Reserves($)(26)   Reserves ($)(27)(30)   Reserve($)(26)   Reserve(26)   Reserves ($)(27)(28)(29)(30)
Loan   1   Glendale Fashion Center (34)   65,579   102,497   8,600   21,875       Special Rollover Reserve: Springing; Ground Rent Reserve: $12,500
Loan   2   Champion Station   129,500   10,000   10,500       671,495   Springing
Loan   3   286 Madison Avenue   132,000       Springing   25,300   13,424,752    
Loan   4   Hilton San Diego Mission Valley   50,494   11,800   Springing            
Loan   5   Starbucks Center (33)(35)   74,381   165,278   Springing       481,280   Springing
Loan   6   Prudential Plaza (33)(35)   1,134,682   248,278   82,759       47,911,435   Springing
Loan   7   Comcast Place   Springing       Springing   56,450       Springing
Loan   8   The Renaissance Retail Condo   18,000   12,000   2,400           Springing
Loan   9   Spyglass Apartments (34)   46,629   78,463   7,133            
Loan   10   Redmond Woods (34)   19,698   41,220   3,300   20,000   1,595,127   Special Rollover Reserve: Springing; Roof Replacement Reserve: $29,167
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   103,600   46,000   5,100       625,738   PIP Reserve: Springing; Ground Lease Reserve: 26,000
Loan   12   Westfield San Francisco Centre (33)   Springing       Springing           Springing
Loan   13   Brea Portfolio   20,500   7,000   1,900       2,325,000   Springing
Loan   14   Mt Diablo Terrace   27,451   1,674   837       115,472    
Loan   15   ACME Hotel   23,920   30,500   5,080            
Loan   16   Adobe Springs   21,000   45,000   11,800            
Loan   17   Crosslake Industrial Portfolio   41,730   30,600   10,200   40,625   100,000    
Property   17.01   3056 Walker                        
Property   17.02   1100 Hynes Avenue                        
Property   17.03   2966 Wilson                        
Property   17.04   1269 East Mount                        
Property   17.05   3111 Wilson                        
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   9,857   25,960   12,980       1,084,600   Springing
Loan   19   GM Office Building   20,600   28,000   2,900       480,886   Springing
Loan   20   Grant and Geary Center   26,000   50,000   4,583            
Loan   21   Hagerstown Premium Outlets (33)   Springing       Springing            
Loan   22   Birch Run Premium Outlets (33)   Springing       Springing            
Loan   23   Franklin Square   17,005   12,562   1,795   24,300   200,000   Springing
Loan   24   Greenwich Portfolio (34)   27,555 first three payment dates; 14,191 thereafter       32,000 first three payment dates; 10,492 thereafter   86,550       Springing
Loan   25   GSA & KCI Portfolio   3,000   4,200   2,100       58,843   Springing
Property   25.01   University Park Tech Center VII                        
Property   25.02   ICE Office Building                        
Loan   26   Watt Towne Center   13,087       Springing       90,000    
Loan   27   Palms Apartment Portfolio   7,688   6,516   3,400   244,961   750,000   Springing
Property   27.01   Palm Shadows Apartments                        
Property   27.02   Siesta Palms Apartments                        
Property   27.03   Twin Palms Apartments                        
Loan   28   18200 W. Bluemound Road   17,510   15,833   1,583           Springing
Loan   29   Stone Ridge Apartments   3,621   3,008   3,008            
Loan   30   Broadway Industrial   11,970   7,500   1,300   43,750       Springing
Loan   31   Uniek Industrial   Springing       Springing           Springing
Loan   32   Pottery Barn Green Hills   6,695       Springing           Springing
Loan   33   Mid-City Storage & Apartments   15,100   30,000   16,100   1,971,905   200,000   Springing
Loan   34   The Brickyard   7,000   8,000   1,100   10,938        
Loan   35   USC Student Housing Portfolio   10,897   1,260   1,400   47,500        
Property   35.01   Tropicana Student Housing                        
Property   35.02   Chateau Sera Student Housing                        
Loan   36   Comfort Inn Jamestown   13,000   39,000   3,500   14,063   207,600   Springing
Loan   37   Shops at Cinco Ranch   7,600   2,000   1,700       1,000,000   Springing
Loan   38   Memphis Industrial   17,268       Springing   17,000       Springing
Loan   39   LA Fitness Austin   12,013   3,870   700           Springing
Loan   40   Glenbrook Square   17,133       Springing   7,750       Springing
Loan   41   Creedmoor Commons   7,018   1,482   494   6,000       Springing
Loan   42   217 & 233 West Huron   14,200       300       75,401   Springing

  

A-1-11 

 

 

COMM 2016-COR1

 

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

                         
            Other   Environmental        
            Reserves   Report   Engineering   Loan
Property Flag   ID   Property Name   Description   Date(31)   Report Date   Purpose
Loan   1   Glendale Fashion Center (34)   Special Rollover Reserve (Springing Monthly: Excess Cash Flow); Ground Rent (Monthly: 12,500)   04/11/2016   04/13/2016   Refinance
Loan   2   Champion Station   Free Rent Reserve (Upfront: 671,495); Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   07/11/2016   07/11/2016   Acquisition
Loan   3   286 Madison Avenue   Earn-Out Reserve (Upfront: 13,250,000); Free Rent Reserve (Upfront: 132,471); Outstanding TI/LC Reserve (Upfront: 42,011)   07/06/2016   07/06/2016   Refinance
Loan   4   Hilton San Diego Mission Valley       06/10/2016   06/09/2016   Refinance
Loan   5   Starbucks Center (33)(35)   Rent Concession Funds (Upfront: 303,780); Environmental Reserve (Upfront: 177,500, Monthly: Springing); Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)   06/24/2016   06/24/2016   Refinance
Loan   6   Prudential Plaza (33)(35)   Future Leasing Funds (Upfront: 35,000,000; Monthly: Springing); Rent Abatement Funds (Upfront: 12,911,435)   06/30/2015   06/26/2015   Refinance
Loan   7   Comcast Place   Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)   05/05/2016   05/05/2016   Acquisition
Loan   8   The Renaissance Retail Condo   Special Rollover Reserve (Monthly Springing: Excess Cash Flow); Common Charges Reserve (Monthly: Springing)   07/15/2016   07/15/2016   Refinance
Loan   9   Spyglass Apartments (34)       12/16/2015   12/16/2015   Refinance
Loan   10   Redmond Woods (34)   Outstanding TI/LC Reserve (Upfront: 1,280,265); Rent Abatement Reserve (Upfront: 314,862); Special Rollover Reserve (Springing Monthly: Excess Cash Flow); Roof Replacement Reserve (Monthly: 29,167)   05/25/2016   05/25/2016   Acquisition
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   Garage Reserve (Upfront: 555,100); Free Rent Reserve (Upfront: 44,900); Ground Lease Reserve (Upfront: 25,738; Monthly: 26,000); PIP Reserve (Monthly: Springing)   10/12/2015   10/12/2015   Refinance
Loan   12   Westfield San Francisco Centre (33)   Ground Rent Reserve (Springing Monthly: Ground Rent Funds)   05/05/2016   05/05/2016   Refinance
Loan   13   Brea Portfolio   Stabilization Reserve (Upfront: 2,325,000); Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   07/06/2016   07/06/2016   Refinance
Loan   14   Mt Diablo Terrace   Free Rent (Upfront: 115,472)   06/13/2016   06/13/2016   Acquisition
Loan   15   ACME Hotel       09/06/2016   08/30/2016   Refinance
Loan   16   Adobe Springs       05/10/2016   05/10/2016   Refinance
Loan   17   Crosslake Industrial Portfolio   Upfront Working Capital Reserve (100,000)           Acquisition
Property   17.01   3056 Walker       08/08/2016   08/08/2016    
Property   17.02   1100 Hynes Avenue       08/08/2016   08/08/2016    
Property   17.03   2966 Wilson       08/05/2016   08/05/2016    
Property   17.04   1269 East Mount       08/08/2016   08/08/2016    
Property   17.05   3111 Wilson       08/05/2016   08/05/2016    
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   PIP Reserve (Upfront: 1,000,000); Seasonality Reserve (Upfront: 84,600, Monthly: Springing)   02/22/2016   02/04/2016   Acquisition
Loan   19   GM Office Building   Free Rent Reserve (Upfront: 480,886); Carry Reserve (Monthly: Springing); Cafeteria Renovation Reserve (One Time: Springing); Special Rollover Reserve (Monthly Springing: Excess Cash Flow)   08/30/2016   07/05/2016   Refinance
Loan   20   Grant and Geary Center       02/17/2016   02/17/2016   Refinance
Loan   21   Hagerstown Premium Outlets (33)       12/11/2015   12/11/2015   Refinance
Loan   22   Birch Run Premium Outlets (33)       12/11/2015   12/11/2015   Refinance
Loan   23   Franklin Square   Stabilization Reserve (Upfront: 200,000); Special Rollover Reserve (Monthly Springing: Excess Cash Flow)   02/02/2016   01/15/2016   Refinance
Loan   24   Greenwich Portfolio (34)   Special Rollover Reserve (Monthly Springing: Excess Cash Flow)   07/13/2016   07/13/2016   Recapitalization
Loan   25   GSA & KCI Portfolio   Rent Abatement Reserve (Upfront: 58,843); Special Rollover Reserve (Springing Monthly: Excess Cash Flow)           Acquisition
Property   25.01   University Park Tech Center VII       05/16/2016   05/13/2016    
Property   25.02   ICE Office Building       04/25/2016   05/13/2016    
Loan   26   Watt Towne Center   Free Rent Reserve (Upfront: 90,000)   05/02/2016   04/29/2016   Acquisition
Loan   27   Palms Apartment Portfolio   Working Capital Reserve (Upfront: 750,000, Monthly: Springing)           Acquisition
Property   27.01   Palm Shadows Apartments       02/26/2016   02/26/2016    
Property   27.02   Siesta Palms Apartments       02/26/2016   02/26/2016    
Property   27.03   Twin Palms Apartments       02/26/2016   02/26/2016    
Loan   28   18200 W. Bluemound Road   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   07/05/2016   07/01/2016   Acquisition
Loan   29   Stone Ridge Apartments       08/08/2016   08/03/2016   Acquisition
Loan   30   Broadway Industrial   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   05/23/2016   05/20/2016   Refinance
Loan   31   Uniek Industrial   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   07/22/2016   04/29/2016   Refinance
Loan   32   Pottery Barn Green Hills   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   06/06/2016   06/06/2016   Refinance
Loan   33   Mid-City Storage & Apartments   Self-Storage Conversion Reserve (Upfront: 200,000); Burger King Reserve (Monthly: Springing); Burger King Real Estate Tax Reserve (Monthly: Springing)   02/19/2016   12/01/2015   Acquisition
Loan   34   The Brickyard       04/20/2016   04/21/2016   Refinance
Loan   35   USC Student Housing Portfolio               Acquisition
Property   35.01   Tropicana Student Housing       04/13/2015   04/13/2015    
Property   35.02   Chateau Sera Student Housing       04/13/2015   04/13/2015    
Loan   36   Comfort Inn Jamestown   PIP Reserve (Upfront: 127,600, Monthly: Springing); Seasonality Reserve (Upfront: 80,000, Monthly: Springing)   11/20/2015   11/23/2015   Refinance
Loan   37   Shops at Cinco Ranch   Fuji Sushi Reserve (Upfront: 500,000); Royale Retreat Nail Spa Reserve (Upfront: 500,000); Special Rollover Reserve (Monthly Springing: Excess Cash Flow)   07/07/2016   07/08/2016   Refinance
Loan   38   Memphis Industrial   Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)   05/10/2016   05/11/2016   Acquisition
Loan   39   LA Fitness Austin   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   08/04/2016   08/04/2016   Acquisition
Loan   40   Glenbrook Square   Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)   07/28/2016   07/28/2016   Acquisition
Loan   41   Creedmoor Commons   Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   12/30/2015   12/30/2015   Refinance
Loan   42   217 & 233 West Huron   Free Rent Reserve (Upfront: 75,401); Special Rollover Reserve (Springing Monthly: Excess Cash Flow)   01/26/2016   01/07/2016   Refinance

  

A-1-12 

 

 

COMM 2016-COR1

 

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

                                 
                        Existing       Future Debt
                        Additional Debt       Permitted
Property Flag   ID   Property Name   Sponsor(25)   Guarantor(32)   Previous Securitization   Amount   Existing Additional Debt Description   Type
Loan   1   Glendale Fashion Center (34)   Marianne J. Moy   Marianne J. Moy   BACM 2006-4   4,000,000   Mezzanine   NAP
Loan   2   Champion Station   KU Education, Inc.   KU Education, Inc.           None   NAP
Loan   3   286 Madison Avenue   Kenneth Aschendorf; Robert Faktor; Berndt Perl   Kenneth Aschendorf; Robert Faktor; Berndt Perl   BACM 2006-4       None   NAP
Loan   4   Hilton San Diego Mission Valley   Mayur B. Patel   Mayur B. Patel           None   NAP
Loan   5   Starbucks Center (33)(35)   Kevin Daniels; Peter Nitze   NAP       100,000,000   Pari Passu Debt   Mezzanine
Loan   6   Prudential Plaza (33)(35)   Michael Silberberg; Mark Karasick   Michael Silberberg; Mark Karasick   JPMCC 2006-LDP7; JPMCC 2006-CB16   375,000,000   Pari Passu Debt   Mezzanine
Loan   7   Comcast Place   Jason D. Chadorchi   Jason D. Chadorchi           None   NAP
Loan   8   The Renaissance Retail Condo   Jeffrey E. Levine; Stuart Match Suna   Jeffrey E. Levine; Stuart Match Suna   JPMCC 2006-LDP8       None   NAP
Loan   9   Spyglass Apartments (34)   Donald C. Fort   Donald C. Fort       6,000,000   Mezzanine   NAP
Loan   10   Redmond Woods (34)   Robert Hayman   Robert Hayman       1,000,000   Mezzanine   NAP
Loan   11   Hampton Inn & Suites Boston Crosstown(34)   Corcoran Jennison Company, Inc.   Corcoran Jennison Company, Inc.           None   NAP
Loan   12   Westfield San Francisco Centre (33)   Westfield America, Inc.   Westfield America, Inc.   LBUBS 2007-C1   534,471,000   $409,548,000 Pari Passu Debt; $124,923,000 Subordinate Secured Debt   NAP
Loan   13   Brea Portfolio   Dwight Manley   Dwight Manley   MLCFC 2006-C3       None   NAP
Loan   14   Mt Diablo Terrace   Mark A. Hutchinson; Thomas H. Persons; Douglas B. Twillman   Mark A. Hutchinson; Thomas H. Persons; Douglas B. Twillman           None   NAP
Loan   15   ACME Hotel   Eugene Kornota; Anthony Klok   Eugene Kornota; Anthony Klok   CSMC 2006-C5       None   NAP
Loan   16   Adobe Springs   Michael G. Tombari; Kenneth L. Hatfield   Michael G. Tombari; Kenneth L. Hatfield   LBUBS 2006-C7       None   NAP
Loan   17   Crosslake Industrial Portfolio   John Saunders   John Saunders           None   NAP
Property   17.01   3056 Walker                        
Property   17.02   1100 Hynes Avenue                        
Property   17.03   2966 Wilson                        
Property   17.04   1269 East Mount                        
Property   17.05   3111 Wilson                        
Loan   18   Holiday Inn Resort Daytona Beach Oceanfront   Eugene Curcio   Eugene Curcio           None   NAP
Loan   19   GM Office Building   Charles Neiss; Charles Neiss Family Trust   Charles Neiss; Charles Neiss Family Trust   JPMCC 2006-LDP8       None   NAP
Loan   20   Grant and Geary Center   Robert Mashaal   Robert Mashaal   GCCFC 2006-GG7       None   NAP
Loan   21   Hagerstown Premium Outlets (33)   Simon Property Group, L.P.   Simon Property Group, L.P.   WBCMT 2006-C26; WBCMT 2006-C27; RREF 2007-1A   61,000,000   Pari Passu Debt   NAP
Loan   22   Birch Run Premium Outlets (33)   Simon Property Group, L.P.   Simon Property Group, L.P.   WBCMT 2006-C26; WBCMT 2006-C27; RREF 2007-1A   108,000,000   Pari Passu Debt   NAP
Loan   23   Franklin Square   Thomas Edward Messier; William Richard Elliott   Thomas Edward Messier; William Richard Elliott           None   NAP
Loan   24   Greenwich Portfolio (34)   James P. Cabrera   James P. Cabrera       2,750,000   Mezzanine   NAP
Loan   25   GSA & KCI Portfolio   Michael L. Anderson   Michael L. Anderson           None   NAP
Property   25.01   University Park Tech Center VII                        
Property   25.02   ICE Office Building                        
Loan   26   Watt Towne Center   Jay Kerner; The Walsh Trust Dated August 6, 1998   Jay Kerner; The Walsh Trust Dated August 6, 1998           None   NAP
Loan   27   Palms Apartment Portfolio   John C. Loeffler II; Calibercos Inc.   John C. Loeffler II; Calibercos Inc.           None   NAP
Property   27.01   Palm Shadows Apartments                        
Property   27.02   Siesta Palms Apartments                        
Property   27.03   Twin Palms Apartments                        
Loan   28   18200 W. Bluemound Road   John E. Young   John E. Young           None   NAP
Loan   29   Stone Ridge Apartments   Mark Stevens   Mark Stevens   BACM 2007-4       None   NAP
Loan   30   Broadway Industrial   Benjamin Nazarian; Neil Kadisha   Benjamin Nazarian; Neil Kadisha   GSMS 2012-GCJ7       None   NAP
Loan   31   Uniek Industrial   Charles Neiss; Charles Neiss Family Trust   Charles Neiss; Charles Neiss Family Trust   JPMCC 2006-LDP8       None   NAP
Loan   32   Pottery Barn Green Hills   H.G. Hill Company   H.G. Hill Company           None   NAP
Loan   33   Mid-City Storage & Apartments   Michael J. Haugh; Matthew S. Bailey; Scott Beatty   Michael J. Haugh; Matthew S. Bailey; Scott Beatty           None   NAP
Loan   34   The Brickyard   Marcia Goldenfeld Maiten   Marcia Goldenfeld Maiten           None   NAP
Loan   35   USC Student Housing Portfolio   Patrick Nelson; Nelson Brian   Patrick Nelson; Nelson Brian   GMACC 2006-C1       None   NAP
Property   35.01   Tropicana Student Housing           GMACC 2006-C1            
Property   35.02   Chateau Sera Student Housing           GMACC 2006-C1            
Loan   36   Comfort Inn Jamestown   Tarrunumn Murad   Tarrunumn Murad   LBUBS 2006-C3       None   NAP
Loan   37   Shops at Cinco Ranch   Michael H. Clinard   Michael H. Clinard           None   NAP
Loan   38   Memphis Industrial   Kenneth Levy   Kenneth Levy           None   NAP
Loan   39   LA Fitness Austin   Arturo Sneider; Richard Sneider   Arturo Sneider; Richard Sneider           None   NAP
Loan   40   Glenbrook Square   Henry Van-Tri Wu; Ai Hoa Wu   Henry Van-Tri Wu; Ai Hoa Wu           None   NAP
Loan   41   Creedmoor Commons   Hall F. Barnett   Hall F. Barnett   CSMC 2006-C2       None   NAP
Loan   42   217 & 233 West Huron   Keith E. Lord; Scott A. Fithian   Keith E. Lord; Scott A. Fithian           None   NAP

  

A-1-13 

 

  

COMM 2016-COR1

 

FOOTNOTES TO ANNEX A-1 

 

(1)GACC—German American Capital Corporation or one of its affiliates; JLC—Jefferies LoanCore or one of its affiliates.

  

(2)Loan No. 5 – Starbucks Center – The Original Balance ($) and Cut-off Date Balance ($) of $40.0 million represent the non-controlling Note A-1 of a $140.0 million whole loan evidenced by three pari passu notes. The controlling Note A-2 and non-controlling Note A-3 with an aggregate original principal balance of $100.0 million are currently held by DBNY or an affiliate and expected to be contributed to one or more future securitizations.

 

Loan No. 6 – Prudential Plaza – The Original Balance ($) and Cut-off Date Balance ($) of $40.0 million represent the non-controlling Note A-3-1 of a $415.0 million whole loan evidenced by seven pari passu notes. The controlling Note A-1 with an original principal balance of $115.0 million was contributed to the COMM 2015-CCRE26 mortgage trust. The non-controlling Note A-2-1 with an original principal balance of $50.0 million was contributed to the CD 2016-CD1 mortgage trust. The remaining four pari passu notes with an aggregate original principal balance of $210.0 million are currently held by GACC or an affiliate and expected to be contributed to one or more future securitizations.

 

Loan No. 12 – Westfield San Francisco Centre – The Original Balance ($) and Cut-off Date Balance ($) of $23.529 million represent the senior non-controlling Notes A-1-EMP-C4 and A-1-SFC-C4 of a $558.0 million whole loan evidenced by 28 promissory notes: 24 pari passu senior notes with an aggregate original principal balance of $433.077 million and four subordinate notes with an aggregate original principal balance of $124.923 million. Eight of the senior notes with an aggregate original principal balance of $182.019 million and all of the junior notes were contributed to the DBJPM 2016-SFC mortgage trust. Four senior notes with an aggregate original principal balance of $84.0 million were contributed to the DBJPM 2016-C3 mortgage trust. Four senior notes with an aggregate original principal balance of $60.0 million were contributed to the CD 2016-CD1 mortgage trust. Four senior notes with an aggregate original principal balance of $60.0 million were contributed to the JPMCC 2016-JP3 mortgage trust. The remaining two senior notes with an aggregate original principal blance of $23.529 million are expected to be held by JPMorgan Chase Bank, National Association (“JPMCB”) or an affiliate and contributed to one or more future securitizations.

  

Loan No. 21 – Hagerstown Premium Outlets – The Original Balance ($) and Cut-off Date Balance ($) of $16.0 million represent the non-controlling Notes A-3-B and A-4 of a $77.0 million whole loan evidenced by five pari passu notes. The controlling Note A-2 and non-controlling Note A-3-A with an aggregate original principal balance of $31.0 million were contributed to the JPMCC 2016-JP2 mortgage trust. The non-controlling Note A-1 with an original principal balance of $30.0 million was contributed to the DBJPM 2016-C1 mortgage trust.

  

Loan No. 22 – Birch Run Premium Outlets – The Original Balance ($) and Cut-off Date Balance ($) of $15.0 million represent the non-controlling Note A-1-B1 of a $123.0 million whole loan evidenced by seven pari passu notes. The non-controlling Note A-1-A in the original principal amount of $20.0 million was contributed to the COMM 2016-DC2 mortgage trust. The non-controlling Notes A-2-A and A-4 with an aggregate original principal balance of $43.0 million were contributed to the CD 2016-CD1 mortgage trust. The remaining Notes A-1-B2, A-2-B and A-3 with an aggregate original principal balance of $45.0 million are currently held by GACC or an affiliate and expected to be contributed to one or more future securitizations.

  

(3)With respect to any Mortgaged Property securing a multi property Mortgage Loan, the amounts listed under the headings “Original Balance ($)” and “Cut off Date Balance ($)” reflect the Allocated Loan Amount related to such Mortgaged Property.

  

(4)Loan No. 6 – Prudential Plaza – The Prudential Plaza Mortgage Loan was originated on July 30, 2015 and modified on (i) September 11, 2015 to permit the holder or holders of 100% of the direct ownership interests in borrower to enter into a mezzanine loan in the future, (ii) July 22, 2016 to modify the future leasing reserve account and (iii) September 6, 2016 to provide for the TI/LC reserve in connection with entering into the lease with the Largest Tenant, Wilson Sporting Goods Co.

  

Loan No. 9 – Spyglass Apartments – The Spyglass Apartments Loan was originated on January 14, 2016 and modified on September 6, 2016 to extend the original loan term from 60 months to 68 months. The Original Balance, Original Term to Maturity or ARD, Remaining Term to Maturity or ARD, Remaining Interest Only Periods,

 

A-1-14 

 

 

Monthly Debt Service Payment, Maturity or ARD Date and Prepayment Provision reflect the changed terms following the September 6, 2016 modification.

 

Loan No. 23 – Franklin Square – The Franklin Square Loan was originated on February 10, 2016 and modified on September 14, 2016 to extend the original loan term from 60 months to 67 months. The Original Balance, Original Term to Maturity or ARD, Remaining Term to Maturity or ARD, Remaining Interest Only Periods, Monthly Debt Service Payment, Maturity or ARD Date and Prepayment Provision reflect the changed terms following the September 14, 2016 modification. Additionally, the aforementioned modification also permits the one time transfer of the mortgaged property to a newly formed REIT in connection with the guarantor’s sale of equity in the mortgaged property, provided, among other things, that the guarantor is required to continue to control the borrower and remain the non-recourse carveout guarantor under the loan documents.

 

(5)Loan No. 5 – Starbucks Center – The Mortgaged Property consists of approximately 1,328,519 sq. ft. of office space and approximately 178,197 sq. ft. of retail space, which includes approximately 108,000 sq. ft. stand alone retail box occupied by Home Depot.

 

Loan No. 12 – Westfield San Francisco Centre – The Mortgaged Property consists of approximately 553,366 sq. ft. of retail space and approximately 241,155 sq. ft. of office space.

 

Loan No. 20 – Grant and Geary Center– The Grant and Geary Center Net Rentable Area consists of 97,370 sq. ft. of office (80.4% of total NRA) and 23,750 sq. ft. of retail (19.6% of total NRA). The Third Most Recent Occupancy, Second Most Recent Occupancy, and Most Recent Physical Occupancy are based on the weighted average of both components. 

 

Loan No. 24 – Greenwich Portfolio – The Greenwich Portfolio consists of the following components: (i) 12,806 sq. ft. of multifamily space which is 82.0% leased, (ii) 12,415 sq. ft. of retail space which is 100.0% leased and (iii) 11,971 sq. ft. of office space, which is 100.0% leased. 

 

Loan No. 33 – Mid-City Storage & Apartments – The Mid-City Storage & Apartments Net Rentable Area consists of 144,678 sq. ft. of storage units (73.2% of total NRA) and 53,012 sq. ft. of multifamily units (26.8% of total NRA). The Third Most Recent Occupancy, Second Most Recent Occupancy, and Most Recent Physical Occupancy are based on the weighted average of both components. 

 

(6)Loan No. 2 - Champion Station - The borrower may not lease, license or permit the sublease or occupancy of all or any portion of the Mortgaged Property to Huawei Technologies Co. Ltd. or ZTE Corporation without the prior consent of Cisco Technology, Inc., a prior owner of the Mortgaged Property, pursuant to a recorded agreement.

  

Loan No. 11 - Hampton Inn & Suites Boston Crosstown - The Mortgaged Property is subject to recorded land use restrictions related to elevated contaminant levels in the soil as described in the accompanying preliminary prospectus under “Description of the Mortgage Pool—Environmental Considerations”.

  

Loan No. 19 - GM Office Building - The Mortgaged Property is subject to recorded deed restrictions related to elevated contaminant levels in the soil as described in the accompanying preliminary prospectus under “Description of the Mortgage Pool—Environmental Considerations”.

  

Loan No. 37 - Shops at Cinco Ranch - The Mortgaged Property is subject to a recorded deed restriction which requires that the Mortgaged Property be used solely for neighborhood retail use, including automotive services or repairs (excluding fuel stations), restaurants and professional or medical office (excluding psychiatric or psychological treatment or counseling, drug or alcohol treatment or rehabilitation or any similar mental health treatments or facilities).

 

(7)The Administrative Fee Rate includes the respective per annum rates applicable to the calculation of the servicing fee, any sub-servicing fee, trustee/certificate administrator fee, operating advisor fee and CREFC® license fee with respect to each Mortgage Loan. For purposes of this Annex A-1, the definition of Administrative Fee Rate as it relates to any Non-Serviced Mortgage Loan includes the related Pari Passu Loan Primary Servicing Fee Rate which includes the “primary servicing fee rate” (as defined or set forth in the applicable pooling and servicing agreement) and any other related servicing or any sub-servicing fee rate (other than those payable to the applicable special servicer) applicable to such Non-Serviced Mortgage Loan that constitutes a portion of the “servicing fee rate” applicable to the other master servicer under the applicable other pooling and servicing agreement. The Pari Passu Loan Primary Servicing Fee Rate for the Prudential Plaza Loan will be 0.00250%. The Pari Passu Loan Primary Servicing Fee Rate for the Westfield San Francisco Centre Loan will be 0.00125%. The

 

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Pari Passu Loan Primary Servicing Fee Rate for the Hagerstown Premium Outlets Loan will be 0.00250%. The Pari Passu Loan Primary Servicing Fee Rate for the Birch Run Premium Outlets Loan will be 0.00250%. 

 

(8)Annual Debt Service ($), Monthly Debt Service ($), Underwritten NOI DSCR and Underwritten NCF DSCR for Mortgage Loans (i) with partial interest only periods are shown based on the monthly debt service payment immediately following the expiration of the interest only period and (ii) that are interest only until the related maturity date is shown based on the interest only payments during the 12 month period following the Cut off Date (or, in the case of Monthly Debt Service ($), the average of such interest only payments) without regard to leap year adjustments.

  

(9)“Hard” generally means each tenant is required to transfer its rent directly to the lender controlled lockbox account. However, with respect to hospitality properties, “Hard” means all credit card receipts are deposited directly into the lockbox by the card processing company and all over the-counter cash and equivalents are required to be deposited by the property manager or borrower into the lockbox. “Soft” means the borrower has established a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. “Springing Soft” means that upon the occurrence of a trigger event (as specified in the related Mortgage Loan Documents), the borrower is required to establish a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. “Springing Hard” means that upon a trigger event (as specified in the related Mortgage Loan Documents), each tenant will be required to transfer its rent directly to a lender controlled lockbox. “Soft Springing Hard” means that the borrower has established a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. Upon a trigger event (as specified in the related Mortgage Loan documents), each tenant will be required to transfer its rent directly into a lender-controlled lockbox.

  

(10)“In Place” means that related property cash flows go through a waterfall of required reserve or other payment amounts due before the lender either (i) disburses excess cash to the related borrower or (ii) retains excess cash as additional collateral for the Mortgage Loan. “Springing” means that upon the occurrence of a trigger event, as defined in the related Mortgage Loan Documents, In Place cash management (as described above) will take effect, and will generally continue until all trigger events are cured (to the extent a cure is permitted under the related Mortgage Loan Documents).

 

(11)Loan No. 5 – Starbucks Center – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate.

 

Loan No. 6 – Prudential Plaza – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate. 

 

Loan No. 12 – Westfield San Francisco Centre – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate and exclude the related subordinate companion loans.

  

Loan No. 21 – Hagerstown Premium Outlets – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate.

  

Loan No. 22 – Birch Run Premium Outlets – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate.

  

(12)Loan No. 12 – Westfield San Francisco Centre – The Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per

 

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Net Rentable Area (SF/Units/Rooms) ($) calculations exclude the Westfield San Francisco Centre subordinate companion loans. 

 

(13)The grace periods noted under “Grace Period” reflect the number of days of grace before a payment default is an event of default. Certain jurisdictions impose a statutorily longer grace period. Certain of the Mortgage Loans may additionally be subject to grace periods with respect to the occurrence of an event of default (other than a payment default) and/or commencement of late charges which are not addressed in Annex A-1 to this preliminary prospectus.

  

Loan No. 12 – Westfield San Francisco Centre – The late payment fee will be waived if any principal, interest or any other sum due under the loan documents (other than the outstanding principal balance due and payable on the maturity date) is paid within five business days following the date on which it is due. 

 

Loan No. 21 – Hagerstown Premium Outlets – The late payment fee will be waived if any principal, interest or any other sum due under the loan documents (other than the outstanding principal balance due and payable on the maturity date) is paid within five business days following the date on which it is due. 

 

Loan No. 22 – Birch Run Premium Outlets – The late payment fee will be waived if any principal, interest or any other sum due under the loan documents (other than the outstanding principal balance due and payable on the maturity date) is paid within five business days following the date on which it is due.

 

(14)Loan No. 18 – Holiday Inn Resort Daytona Beach Oceanfront – The appraised value of $28,100,000 is based on the “As Complete” value dated February 1, 2017, which assumes completion of a franchisor required property improvement plan estimated to cost approximately $1,000,000. At origination the borrower reserved $1,000,000 in connection with the property improvement plan. The current “as-is” value dated February 1, 2016 is $26,500,000. The calculations of Cut-off Date LTV Ratio and LTV Ratio at Maturity are based on the $28,100,000 value. Based on the “as-is” value, the Cut-off Date LTV Ratio and LTV Ratio at Maturity are 71.2%, and 59.6%, respectively.
   
 (15)Prepayment Provisions are shown from the respective Mortgage Loan First Payment Date.

 

“L(x)” means lock-out for x payments. 

 

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

 

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

 

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

 

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

 

Certain of the Mortgage Loans permit the release of a portion of a Mortgaged Property (or an individual Mortgaged Property, in connection with a portfolio mortgage loan) under various circumstances, as described in this preliminary prospectus. See “Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Property Releases” in this preliminary prospectus. In addition, certain of the Mortgage Loans permit the borrower to prepay a portion of the Mortgage Loan to avoid or cure a cash sweep period due to a low debt yield or debt service coverage ratio trigger. See “Description of the Mortgage Pool—Certain Terms and Conditions of the Mortgage Loans—Voluntary Prepayments” in this preliminary prospectus.

 

(16)Loan No. 5 – Starbucks Center – The lockout period will be at least 24 payment dates beginning with and including the first payment date of November 6, 2016. Defeasance of the full $140.0 million Starbucks Center Whole Loan is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) September 14, 2019. The assumed lockout period of 24 payments is based on the expected COMM 2016-COR1 securitization closing date in October 2016. The actual lockout period may be longer.

  

Loan No. 6 – Prudential Plaza - On July 26, 2016, the holder of the non-controlling Note A-2-1, together with the other non-controlling pari passu companion notes (the “REMIC Election Notes”) made a REMIC election with respect to the REMIC Election Notes. As such, the defeasance lockout period for the Prudential Plaza Whole Loan will be through the first business day following July 26, 2018. For additional information regarding the REMIC Election Notes, see “Material Federal Income Tax Considerations” in the Preliminary Prospectus.

 

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Loan No. 12 – Westfield San Francisco Centre – The lockout period will be at least 26 payment dates beginning with and including the first payment date of September 1, 2016. Defeasance of the full $558.0 million Westfield San Francisco Centre Whole Loan is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) August 1, 2019. The assumed lockout period of 26 payments is based on the expected COMM 2016-COR1 securitization closing date in October 2016. The actual lockout period may be longer. 

 

Loan No. 22 – Birch Run Premium Outlets – The lockout period will be at least 32 payment dates beginning with and including the first payment date of March 6, 2016. Defeasance of the full $123.0 million Birch Run Premium Outlets Whole Loan is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last pari passu note to be securitized and (ii) March 6, 2019. The assumed lockout period of 32 payments is based on the expected COMM 2016-COR1 securitization closing date in October 2016. The actual lockout period may be longer. 

 

(17)Loan No. 5 – Starbucks Center – In connection with a conveyance of the Home Depot parcel, the borrower may obtain the release of the Home Depot parcel after the expiration of the lockout period, provided, among other things, (i) that the borrower defeases the loan in an amount equal to the release price of $10,960,00 plus any accrued and unpaid interest on the portion of the Outstanding Principal Balance being defeased; (ii) the conveyance of such parcel does not adversely affect the use or operation of, or access to or from, the Mortgaged Property, (iii) after the release, taking into account the Mortgage Loan and any existing mezzanine debt, (A) the DSCR is at least equal to the greater of (x) 2.02x, the DSCR at closing and (y) the DSCR immediately prior to such release and (B) the LTV Ratio is not greater than the lesser of (x) 45.0% and (y) the LTV Ratio immediately prior to such release, (iv) the release parcel is a legally subdivided parcel from the Mortgaged Property and (v) the borrower continues to be a special purpose entity.

 

Loan No. 26 – Watt Towne Center – The borrower may obtain the release of an unimproved release parcel, provided, among other things, (i) the borrower has obtained a lot line adjustment in accordance with the conditions set forth in the Mortgage Loan documents, (ii) the release parcel is a legally subdivided parcel from the Mortgaged Property and is a separate tax lot from the Mortgaged Property; (iii) the conveyance of the release parcel does not adversely affect the use or operation of, or access to or from, the portion of the Mortgaged Property and (iv) the LTV Ratio of the Mortgage Loan, after release of the release parcel, is less than 125%. The release parcel was not given any value in underwriting the Mortgage Loan.

 

Loan No. 27 – Palms Apartment Portfolio – The Palms Apartment Portfolio Loan allows the borrowers to obtain, on any date after the expiration of the lockout period, the release of an individual property upon a bona fide third-party sale provided, among other things, (i) no default or event of default has occurred, (ii) the borrowers deliver defeasance collateral equal to the greater of (a) 100% of the Net Sales Proceeds and (b) 135% of the Allocated Loan Amount for the individual property to be released and (iii) after the release the Debt Yield of the remaining properties is no less than the greater of (a) the Debt Yield immediately prior to the release and (b) 11.43%.

 

Loan No. 39 – LA Fitness Austin – The LA Fitness Austin Loan permits the borrower to obtain the release of a non-income producing 3.32 acre parcel that contains a detention pond, provided that, amongst other things: (i) the borrower continues to satisfy all SPE provisions in the mortgage loan documents; (ii) the borrower pays all lender costs and expenses (including release fees to the servicer, not to exceed $10,000); (iii) the borrower obtains title/survey/zoning updates; and (iv) the LTV ratio for the remaining property does not exceed 56.5% (which is the LTV at origination).

 

(18)The following Mortgaged Properties consist, in whole or in part, of the respective borrower’s interest in one or more ground leases, space leases, air rights leases or other similar leasehold interests:

 

Loan No. 1 – Glendale Fashion Center – A portion of the Glendale Fashion Center Mortgaged Property is subject to a ground lease with the City of Glendale. The ground lease expiration date is April 28, 2031 with six, ten-year renewal options and one, nine-year renewal option extending the terms through April 28, 2100. Annual ground rent is currently $150,000, subject to periodic adjustments equal to 5% of the fair market value of the Glendale Fashion Center Mortgaged Property.

 

Loan No. 11 – Hampton Inn & Suites Boston Crosstown – The Hampton Inn & Suites Boston Crosstown Mortgage Loan is secured by the borrower’s leasehold interest which consists of (i) the hotel improvements and (ii) 650 spaces in a 1,250 space parking garage. The related ground lease, with the Boston Redevelopment Authority (the “BRA”), has an expiration date of October 31, 2067. Annual base ground rent is approximately $107,761, subject to an increase every ten years equal to one half of the aggregate percentage increase in the CPI over the prior

 

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ten-year period, with the next increase scheduled to occur on December 31, 2024 (the “Base Rent”). In addition, pursuant to the ground lease, the borrower has an option to purchase either the entire Mortgaged Property, or the portions improved by the hotel or garage individually, at fair market value (to be determined according to criteria set forth in the ground lease) in 2017, 2022 or 2032, with no less than 12 months’ prior written notice and written consent of the lender. In the event the borrower exercises the purchase option in 2017 or 2022, the borrower will also be required to make additional payment of (i) $623,676 or $476,833, respectively, for the portion of the Mortgaged Property improved by the hotel or (ii) $1,176,405 or $899,423, respectively, for the portion of the Mortgaged Property improved by the parking garage.

 

Loan No. 12 – Westfield San Francisco Centre – The San Francisco Centre portion of the Mortgaged Property is subject to a ground lease with an initial expiration of June 30, 2043 and includes one renewal option for a 15-year term.

 

Loan No. 20 – Grant and Geary Center – The Grant and Geary Mortgage Loan is secured by the borrower’s leasehold interest in the Mortgaged Property. The related ground lease has an expiration date of January 1, 2043. Annual ground rent is currently $833,704, subject to adjustment upward or downward every five years (with the next adjustment scheduled to occur on January 1, 2020) based on changes to the CPI for Urban Wage and Clerical Workers. Any increase in the ground rent is limited to the greater of (a) 5.5% of the minimum rent for each full year after the commencement of the lease term or (b) the average annual net cash flow from the premises during the preceding five calendar years of the lease term. The ground lease provides that in no event will the ground rent be adjusted below $280,000 per annum.

 

(19)Loan No. 24 – Greenwich Portfolio – The Largest Tenant, Gabriele’s Italian Steakhouse, is owned by an affiliate of the borrower and occupies approximately 33.4% of the net rentable area.

 

(20)Loan No. 21 – Hagerstown Premium Outlets – The 4th Largest Tenant, Under Armour, occupies two spaces representing 2.0% of the NRA with various lease expirations. One space of 8,107 sq. ft. expires in July 2023 and the other space of 1,425 sq. ft. expires in October 2019.

 

(21)The lease expiration dates shown are based on full lease terms. However, in certain cases, a tenant may have the option to terminate its lease or abate rent prior to the stated lease expiration date for no reason after a specified period of time and/or upon notice to the landlord or upon the occurrence of certain contingencies including, without limitation, if landlord violates the lease or fails to provide utilities or certain essential services for a specified period or allows certain restricted uses, upon interference with tenant’s use of access or parking, upon casualty or condemnation, for zoning violations, if certain anchor or key tenants (including at an adjacent property) or a certain number of tenants go dark or cease operations, if a certain percentage of the net rentable area at the property is not occupied, if the tenant fails to meet sales targets or business objectives, or, in the case of a government tenant, for lack of appropriations or other reasons. In addition, in some instances, a tenant may have the right to assign its lease and be released from its obligations under the subject lease. Furthermore, some tenants may have the option to downsize their rented space without terminating the lease completely. In addition to the foregoing, the following are non contingent early termination options for those tenants listed in Annex A 1:

 

Loan No. 3 – 286 Madison Avenue – The 2nd Largest Tenant, JA Mitsui Leasing Capital, has a one-time right to terminate its lease effective February 28, 2022, provided the tenant has given landlord 12 months prior notice in addition to paying a termination fee equal to $281,309.

 

Loan No. 6 – Prudential Plaza – The Largest Tenant, Wilson Sporting Goods Co., has a one-time right to terminate its lease on December 31, 2026, by providing at least 15 months prior written notice and the payment of a termination fee. The 3rd Largest Tenant, Clark Hill, has a right to terminate its lease beginning on the last day of the 10th year of the lease term, upon at least 15 months prior written notice, subject to a termination fee equal to then unamortized leasing costs associated with the Clark Hill lease amortized at a rate of 8% per year.

 

Loan No. 10 – Redmond Woods – The 5th Largest Tenant, Nokia, has a one-time right to terminate its lease effective March 31, 2018, provided the tenant has given landlord 12 months prior notice in addition to paying a termination fee equal to (i) twelve months’ base and additional rent (at the rate applicable to the twelve month period immediately after the Termination Date) and (ii) any unamortized tenant allowances and brokerage commissions.

 

Loan No. 12 – Westfield San Francisco Centre – The Largest Tenant, San Francisco State University, has a termination option for the entirety of its space effective December 31, 2018 and requires notice by September 30, 2017, and payment of a termination fee equal to the sum of the three months of base rent and the then unamortized

 

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sum of (A) the total tenant improvement allowance granted to the tenant and (B) the total amount of brokerage commissions paid by the landlord. 

 

Loan No. 32 - Pottery Barn Green Hills – The Sole Tenant, Pottery Barn, has the right to terminate its lease upon 90 days’ written notice to the borrower if, in the shopping center adjoining the Mortgaged Property (which is owned by an affiliate of the borrower), (i) the anchor tenant, (ii) any five of eight “Named Tenants,” or (iii) at least 80% of small shop space are not open and operating for any consecutive 12-month period. 

 

Loan No. 38 – Memphis Industrial – The Largest Tenant, Varsity Brands, Inc., has two options to terminate its lease. The first termination option is effective November 1, 2018, provided the tenant has given the landlord written notice no later than October 31, 2017. The second termination option is effective November 1, 2019, provided the tenant has given the landlord written notice no later than October 31, 2018.

 

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

  

Loan No. 6 – Prudential Plaza – McGraw Hill Financial, Inc. is currently a tenant under various leases that represent in the aggregate 175,888 square feet, which will expire on November 30, 2016. McGraw Hill Financial, Inc. currently subleases 23,199 sq. ft. to The University of Chicago and 49,998 sq. ft. to McDermott Will & Emery LLP, with both subleases expiring on November 30, 2016. McDermott Will & Emery LLP has signed a direct lease to take over the space that it is currently subleasing from McGraw Hill Financial, Inc. when McGraw Hill Financial, Inc.’s lease expires on November 30, 2016. McGraw Hill Financial Inc. has executed a new lease for 24,226 sq. ft. that expires on November 30, 2026. Other than this space, the McGraw Hill Financial, Inc. leased space was not given any value in underwriting the Prudential Plaza Whole Loan. 

 

Loan No. 7 – Comcast Place – The Largest Tenant, Comcast Corporation, leases approximately 30,000 to 35,000 sq. ft., which equals approximately 13.7% to 15.9% of NRA, at the 3011 building which is currently dark and listed on the market for sublease. 

 

Loan No. 10 – Redmond Woods – The 4th Largest Tenant, Noetix, which leases 14.1% of the NRA, subleases its entire space to Infosys Limited. The sublease is coterminous with the related prime lease, which expires on April 30, 2020. Noetix remains fully liable for all rent due under the prime lease.

 

Loan No. 12 – Westfield San Francisco Centre – The Largest Tenant, San Francisco State University, is subleasing approximately 18,354 sq. ft. to San Francisco Examiner and approximately 18,712 sq. ft. to Westfield Labs (an affiliate of the borrower). The sub-leased premises will be subject to the San Francisco State University lease that expires December 31, 2021. In addition, the Second Largest Tenant, Crunchyroll, Inc., is subleasing approximately 30,000 sq. ft. to GoPro, Inc. The sublease expires in June, 2017 (which is prior to the expiration of the related prime lease). During the sublease period, Crunchyroll, Inc. is required to pay the borrower, as additional rent, 50% of all rent, additional rent or other consideration paid by GoPro, Inc. to Crunchyroll, Inc. in excess of the rent and additional rent already payable for such space under the prime lease. The lender did not include any related sublease income in its underwriting.

(23)The following major tenants shown on Annex A-1 have abated, free or prepaid rent:

Loan No. 2 – Champion Station – At origination, the borrower deposited $671,495 into a free rent reserve to account for the fact that Silver Spring Networks, the Largest Tenant, will not commence rental payments on 51,423 sq. ft. of its space until January 1, 2017.

 

Loan No. 5 – Starbucks Center – At origination, the borrower deposited $303,780 into a free rent reserve account related to the 3rd Largest Tenant, Confidential IG Tenant, for four months through December 2016.

 

Loan No. 6 – Prudential Plaza – At origination, the borrower deposited $12,911,435 into a free rent reserve for existing rent abatement amounts for monthly payments starting August 2015 through June 2017 for free rents. In addition, the Largest Tenant, Wilson Sporting Goods Co., will be entitled to a rent abatement on the first month of each year during the lease term. The 2nd Largest Tenant, Optiver US LLC, has a rent abatement period from December 2016 to May 2017 and a rent abatement period from May 2018 to September 2018. The 3rd Largest Tenant, Clark Hill, has a rent abatement period from January 2017 to July 2017. The 5th Largest Tenant, CBS Radio Holdings Corp., has a rent abatement period from May 2018 to December 2019. 

 

Loan No. 10– Redmond Woods– At closing, the borrower deposited $314,862 into a free rent reserve account for rent abatement periods for the Largest Tenant, Microsoft Corporation, and Wipro Ltd., both of which tenants are in full occupancy but do not commence rental payments until February 28, 2017.

 

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Loan No. 19 – GM Office Building – The Sole Tenant, General Motors, LLC, executed a lease on 100.0% of the NRA at the GM Office Building Mortgaged Property, and is currently completing a build-out of a portion of its space representing approximately 44.4% of the NRA. General Motor, LLC is anticipated to take occupancy of and is required to commence paying rent on this portion of its space by January 1, 2017. At origination, the borrower deposited $480,886 into a reserve account for such free rent period.

 

Loan No. 25 – GSA & KCI Portfolio– At origination, the borrower deposited $58,843 into a free rent reserve to account for three months of partial rent abatements associated with the US Immigration and Customs Enforcement (GSA) lease. 

 

Loan No. 26 – Watt Towne Center – At origination, the borrower deposited $90,000 into a free rent reserve account related to a free rent period for the 4th Largest Tenant, Fitness Evolution, for monthly rent payments occurring from September 2016 to May 2017. 

 

Loan No. 39 – LA Fitness Austin - The Sole Tenant, LA Fitness, has taken occupancy but is in a free rent period until October 5, 2016.

  

Loan No. 42 – 217 & 233 West Huron - The Second Largest Tenant, Bar Lupo Italian Pub, is in occupancy but is permitted under its lease to defer rent in full until October 2016, and in part in November and December 2016. Thereafter, the tenant is required to repay to the borrower the deferred rent pursuant to a schedule set forth in its lease. The borrower reserved $75,401 in connection with the deferral periods.

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

 

Loan No. 2 – Champion Station – The Largest Tenant, Silver Spring Networks, executed a lease on 66.6% of the NRA at the Champion Station Mortgaged Property, and is currently completing a build-out of a portion of its space representing approximately 17.9% of NRA. Silver Spring Networks is anticipated to take occupancy of and is required to commence paying rent on this portion of its space by January 1, 2017.

  

Loan No. 5 – Starbucks Center – The Largest Tenant, Starbucks, leases approximately 1,151,196 sq. ft. or 76.4% of the net rentable area at the Mortgaged Property, including new lease amendments to occupy approximately 64,472 sq. ft. for which the tenant is in occupancy and rent payments are required to commence in October 2016, approximately 17,640 sq. ft. for which rent payments are required to commence in February 2017 and approximately 62,851 sq. ft. for which rent payments are required to commence in October 2017. The 3rd Largest Tenant, Confidential IG Tenant, entered into its lease June 1, 2016 and is expected to open and begin paying full rent in October 2016. At loan origination, $303,780 was deposited into a rent concession reserve to cover rental payments for four months through December 2016.

  

Loan No. 6 – Prudential Plaza – The Largest Tenant, Wilson Sporting Goods Co., has entered into a lease to occupy 87,386 sq. ft., which will commence in January 2018. The 2nd Largest Tenant, Optiver US LLC, currently occupies approximately 73,779 sq. ft. at the Mortgaged Property, has entered into a lease to occupy an additional approximately 25,450 sq. ft., which is expected to commence in May 2017. In addition, the 3rd Largest Tenant, Clark Hill, has entered into a lease to occupy approximately 71,813 sq. ft. which is expected to commence in January 2017.

  

Loan No. 19 – GM Office Building – The Sole Tenant, General Motors, LLC, executed a lease on 100.0% of the NRA at the GM Office Building Mortgaged Property, and is currently completing a build-out of a portion of its space representing approximately 44.4% of NRA. General Motor, LLC is anticipated to take occupancy of and is required to commence paying rent on this portion of its space by January 1, 2017.

(25)Loan No. 1 – Glendale Fashion Center – The borrowers, Glendale Fashion Associates LLC and Rancho Palisades Holdings, LLC, are structured as tenants-in-common, each of which is a Delaware limited liability company structured to be bankruptcy-remote, with two independent directors in its organizational structure. The non-recourse carveout guarantor is Marianne J. Moy.

 

Loan No. 3 – 286 Madison Avenue – The borrowers, APF 286 MAD LLC, GAN 286 Madison LLC and 286 Madison Associates LLC, are structured as tenants-in-common, each of which is a Delaware limited liability company structured to be bankruptcy-remote, with two independent directors in its organizational structure. The sponsors of the borrowers and the non-recourse carveout guarantors are Kenneth Aschendorf, Robert Faktor and Berndt Perl.

 

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Loan No. 14 – Mt Diablo Terrace – The borrowers, DPW Diablo LP, PPG Diablo LP, DE Diablo LP and BFC Diablo LLC are structured as tenants-in-common and are each a single-purpose Delaware limited liability company structured to be bankruptcy-remote, each with one independent director in its organizational structure. The sponsors of the borrowers and non-recourse carve-out guarantors are Mark A. Hutchinson, Thomas H. Persons and Douglas B. Twillman, jointly and severally. 

 

Loan No. 39 – LA Fitness Austin – The borrowers, Kaimana Investments, LLC and Makalido, LLC, are structured as tenants-in-common and are each a Delaware limited liability company. The sponsors of the borrowers and the non-recourse carveout guarantors are Arturo Sneider and Richard Sneider on a joint and several basis.

(26)All upfront reserve balances reflect the upfront reserve amount at loan origination. The current balance may be less than the amount shown.
(27)All ongoing reserve balances reflect the ongoing reserve amount at loan origination. The current balance may be greater than or less than the amount shown. Monthly reserves required to be deposited in such accounts may be capped pursuant to the related mortgage loan documents.
(28)Loan No. 6 – Prudential Plaza – Commencing on the payment date in August 2016, on a monthly basis, the borrower will deposit $236,236 in a future leasing reserve account until August 2018, on which date the amount will increase to $377,978. Such payments will continue until either (i) 85% of the Mortgaged Property’s net rentable area is leased or (ii) a transfer or assumption of the Mortgaged Property with a third party in an arm’s length transaction occurs; provided that in either case monthly deposits of $190,686 will be required if the future leasing reserve balance drops below $5,000,000 for so long as it is less than $8,000,000.
(29)Loan No. 18 – Holiday Inn Resort Daytona Beach Oceanfront – The borrower deposited $84,600 at origination into a seasonality reserve. The borrower will be required to deposit the amount scheduled per the Loan Documents (or an amount as determined by lender in its reasonable discretion) on each monthly payment date that occurs in the seven month period commencing in January and ending (and including) July during the term of the loan.

  

Loan No. 28 – 18200 W. Bluemound Road – The monthly TI/LC reserve of $4,555 can be suspended commencing on the 13th payment date so long as each Major Tenant is in occupancy, open for business and paying full unabated rent under its respective Major Lease.

 

Loan No. 36 – Comfort Inn Jamestown - The borrower reserved $80,000 at origination into a seasonality reserve account, which funds may be used for debt service payments during the months of March, April or May to the extent necessary to cover any debt service shortfalls. On each payment date occurring in August and September, the borrower is required to deposit $40,000 into the seasonality reserve account (the “Ongoing Seasonality Reserve Deposit”), subject to a cap of $80,000. In the event the lender determines, in its reasonable discretion, that (i) the Ongoing Seasonality Reserve Deposit is insufficient (or in excess of) the amount necessary to cover any shortfall during the subject months or (ii) that the schedule of seasonality months or Ongoing Seasonality Reserve Deposit payment dates require modification, the lender may, upon thirty days’ prior notice to the borrower, (x) increase (or decrease) the Ongoing Seasonality Reserve Deposit and/or the related cap and/or (y) modify such schedule.

 

Loan No. 37 – Shops at Cinco Ranch – The monthly TI/LC reserve of $3,340 can be suspended during any period that (i) funds in the TI/LC Reserve subaccount are greater than $500,000 and (ii) the Shops at Cinco Ranch Mortgaged Property is no less than 90% leased. 

 

Loan No. 42 – 217 & 233 West Huron – The monthly TI/LC reserve of $1,143 can be suspended during any period that (i) funds in the TI/LC Reserve subaccount are greater than $68,600 and (ii) the 217 & 233 West Huron Mortgaged Property is no less than 90% leased. 

(30)Loan No. 12 – Westfield San Francisco Centre – In lieu of making payments to any of the reserve accounts, the borrowers may deliver to lender a letter of credit or guaranty with respect to any reserve. Additionally, the borrowers may deliver to the lender a letter of credit in lieu of deposits previously made to any of the reserve accounts. Other than with respect to the Zara letter of credit, upon delivery of a letter of credit, the lender will disburse an amount equal to the face value of the letter of credit from the applicable reserve account to the borrowers. At loan origination, the borrowers delivered to lender two letters of credit in the aggregate amount of $4,300,000 from UBS AG Bank in lieu of depositing a cash reserve to lender to cover the gap rent and the tenant improvement obligations associated with the Zara lease.

 

Loan No. 15 – ACME Hotel – Eugene Kornota and Anthony Klok, the guarantors, provided a $290,476 full recourse guaranty (equal to approximately three months of debt service) in lieu of a seasonality reserve 

Loan No. 37 - Shops at Cinco Ranch - In lieu of the borrower funding an upfront rollover reserve, Michael Clinard, the non-recourse carveout guarantor, provided a $267,210 full recourse guaranty of the borrower’s obligation to timely pay any tenant improvement funds and/or leasing commissions at the Mortgaged Property, enforceable by the lender until such time as at least $267,210 has accumulated in the rollover reserve.

 

A-1-22 

 

 

                           
(31) Loan No.   Mortgage Loan   Mortgage
Loan Cut-off
Date Balance
  % of Initial
Outstanding
Pool Balance
  Maximum
Policy Amount
  Premium Paid
in Full
  Expiration
Date
  33   Mid-City Storage & Apartments   $7,807,915   0.9%   $5,000,000
per incident
  $63,866   3/9/2026

 

(32)Loan No. 5 – Starbucks Center – There is no separate carve-out guarantor and the loan is fully recourse to the borrower. In addition, Nitze-Stagen & Co., Inc., a sponsor affiliate, agreed to indemnify lender for any loss, up to $1.0 million, related to the borrower’s failure to comply with environmental laws and/or remediation of the property.
(33)Summary of Existing Pari Passu Debt

                           
  Loan
No.
Mortgage Loan   Mortgage
Loan Cut-off
Date Balance
  Pari Passu
Companion
Loan Cut-off
Date Balance
 

Whole Loan
Cut-off Date
Balance

  Whole Loan U/W
NCF DSCR
  Whole Loan
Cut-off Date
LTV Ratio
  Whole Loan Cut-
off Date U/W NOI Debt Yield
  5 Starbucks Center   $40,000,000   $100,000,000   $140,000,000   3.16x   30.9%   12.3%
  5 Prudential Plaza   $40,000,000   $375,000,000   $415,000,000   1.44x   59.3%   9.8%
  12 WestfieId San Francisco Centre(1)   $23,529,000   $409,548,000   $433,077,000   3.68x   35.5%   13.1%
  21 Hagerstown Premium Outlets   $16,000,000   $61,000,000   $77,000,000   2.34x   51.3%   14.8%
  22 Birch Run Premium Outlets   $15,000,000   $108,000,000   $123,000,000   2.90x   59.4%   13.2%
  (1)

The Whole Loan Cut-off Date Balance excludes four subordinate companion notes in the original principal amount of approximately $124.923 million.  

  

(34)Summary of Existing Mezzanine Debt

 

  Loan
No.
  Mortgage Loan   Mortgage Loan
Cut-off
Date
Balance
  % of Initial
Outstanding
Pool
Balance
  Mezzanine
Debt Cut-off
Date Balance
  Annual
Interest Rate
on Mezzanine
Loan
  Mezzanine
Loan
Maturity Date
  Intercreditor
Agreement
Total
Debt Cut-
off Date
LTV
Ratio
  Total
Debt
U/W
NCF
DSCR
  Total
Debt U/W
NOI Debt
Yield
  1   Glendale Fashion Center   $82,000,000   9.2%   $4,000,000   10.984%   6/6/2026   Yes   63.4%   1.53x   7.7%
  9   Spyglass Apartments   $30,000,000   3.4%   $6,000,000   10.000%   10/6/2021   Yes   71.6%   1.16x   7.0%
  10   Redmond Woods   $26,750,000   3.0%   $1,000,000   11.016%   8/6/2026   Yes   72.1% 1.98x   9.7%
  24   Greenwich Portfolio $13,750,000   1.5%   $2,750,000     8.000%   10/6/2026   Yes   80.5%   1.21x   6.9%

 

Loan No. 11 – Hampton Inn and Suites Boston Crosstown - In connection with the origination of the Mortgage Loan, the prior holders of certain junior loans secured by the Mortgaged Property restructured such loans and are holders of restructured junior loans secured by the Mortgaged Property, evidenced by promissory notes in the aggregate outstanding principal balance of $7,500,000 (the “Junior Loans”). Pursuant to a subordination and standstill agreement, (i) the holders of the Junior Loans may not foreclose or declare a default under the Junior Loans during the term of the Mortgage Loan and (ii) payments under the Junior Loans may be payable only from available excess cash flow at the Mortgaged Property.

(35)Summary of Future Mezzanine Debt

 

  Loan
No.
  Mortgage Loan   Mortgage Loan
Cut-off Date
Balance
  % of Initial
Outstanding
Pool Balance
  Intercreditor Agreement
Required
Combined Minimum
DSCR
  Combined Maximum
LTV
  Combined Minimum Debt Yield
  5   Starbucks Center   $40,000,000   4.5%   Yes   1.65%   48.5%   10.5%
  6   Prudential Plaza   $40,000,000   4.5%   Yes   1.40%   64.6%   9.0%

 

A-1-23