FWP 1 n1228_anxa1-x3.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206705-13
     

 

     
 

 

COMM 2018-COR3

 

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.

This free writing prospectus does not contain all information that is required to be included in the prospectus.

 

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., J.P. Morgan Securities LLC, Academy Securities, Inc. or any other underwriter, (collectively, 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 2018-COR3 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2018-COR3 (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.

  

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

 

 Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded.  Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

 

 
     

 

 

 

COMM 2018-COR3

 

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

                                             
      % of   Mortgage   Cut-off       General Detailed     Interest Original Remaining Original Remaining   First  
      Initial Pool # of Loan Original Date   Maturity   Property Property Interest Administrative Accrual Term to Term to Amortization Amortization Origination Payment Maturity
Property Flag ID Property Name Balance Properties Seller(1) Balance($)(3) Balance($)(3)   or ARD Balance($)   Type(5) Type Rate Fee Rate(6) Basis Maturity or ARD Maturity or ARD Term Term Date Date or ARD Date
Loan 1.00 930 Flushing 9.9% 1 LCM/GACC 100,000,000 100,000,000   100,000,000   Industrial Warehouse/Distribution 4.16600% 0.0144% Actual/360 120 120 0 0 04/13/2018 06/06/2018 05/06/2028
Loan 2.00 Hyatt @ Olive 8 7.8% 1 LCM 78,000,000 78,000,000   78,000,000   Hospitality Full Service 4.84000% 0.0144% Actual/360 131 119 0 0 05/05/2017 06/06/2017 04/06/2028
Loan 3.00 Kingswood Center 6.5% 1 LCM 65,500,000 65,500,000   65,500,000   Mixed Use Office/Retail/Parking 5.06600% 0.0144% Actual/360 120 117 0 0 01/18/2018 03/06/2018 02/06/2028
Loan 4.00 1001 North Shoreline Boulevard(29) 6.4% 1 GACC 64,450,000 64,450,000   64,450,000   Office Suburban 3.46488% 0.01441% Actual/360 120 119 0 0 03/15/2018 05/06/2018 04/06/2028
Loan 5.00 Beekman Tower 6.3% 1 LCM 63,000,000 63,000,000   63,000,000   Multifamily High-Rise 4.63350% 0.0144% Actual/360 129 119 0 0 06/16/2017 08/06/2017 04/06/2028
Loan 6.00 Grand Hyatt Seattle(2) 5.0% 1 LCM 50,000,000 50,000,000   50,000,000   Hospitality Full Service 4.74000% 0.0144% Actual/360 121 109 0 0 05/05/2017 06/06/2017 06/06/2027
Loan 7.00 315 West 36th Street(2) 4.7% 1 GACC 47,000,000 47,000,000   47,000,000   Office CBD 4.50500% 0.0187% Actual/360 120 118 0 0 02/09/2018 04/06/2018 03/06/2028
Loan 8.00 240 East 54th Street 4.2% 1 LCM/GACC 42,000,000 42,000,000   42,000,000   Retail Anchored 4.11200% 0.0144% Actual/360 120 113 0 0 09/25/2017 11/06/2017 10/06/2027
Loan 9.00 Atlantic Times Square(2) 4.0% 1 JPMCB 40,000,000 40,000,000   40,000,000   Mixed Use Retail/Multifamily 4.84500% 0.0144% Actual/360 120 119 0 0 03/20/2018 05/01/2018 04/01/2028
Loan 10.00 Shoreline Center 3.8% 1 LCM 38,300,000 38,300,000   38,300,000   Office Suburban 4.28800% 0.0144% Actual/360 120 117 0 0 01/10/2018 03/06/2018 02/06/2028
Loan 11.00 San Antonio Business Park 3.4% 1 LCM 34,000,000 34,000,000   29,215,118   Industrial Flex 4.73000% 0.0144% Actual/360 120 114 360 360 10/11/2017 12/06/2017 11/06/2027
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 3.1% 1 LCM 31,500,000 31,500,000   31,500,000   Hospitality Full Service 5.10000% 0.0144% Actual/360 120 119 0 0 03/08/2018 05/06/2018 04/06/2028
Loan 13.00 Lehigh Valley Mall(2) 3.0% 1 GACC 30,000,000 29,744,472   23,876,018   Retail Super Regional Mall 4.05600% 0.0144% Actual/360 120 114 360 354 10/13/2017 12/01/2017 11/01/2027
Loan 14.00 Sherman Oaks Collection 2.2% 1 LCM 22,400,000 22,400,000   22,400,000   Retail Shadow Anchored 4.63900% 0.0144% Actual/360 120 116 0 0 12/28/2017 02/06/2018 01/06/2028
Loan 15.00 NYC Parking Portfolio(30) 2.2% 3 LCM 21,675,000 21,675,000   21,675,000   Other Parking Garage 4.43822% 0.0144% Actual/360 120 113 0 0 09/20/2017 11/06/2017 10/06/2027
Property 15.01 The Corinthian Parking Garage 1.5% 1 LCM 14,948,276 14,948,276       Other Parking Garage                    
Property 15.02 Rector Place Parking Garage 0.4% 1 LCM 3,737,069 3,737,069       Other Parking Garage                    
Property 15.03 Riverside Drive Parking Garage 0.3% 1 LCM 2,989,655 2,989,655       Other Parking Garage                    
Loan 16.00 644 Broadway 2.1% 1 LCM 21,200,000 21,200,000   21,200,000   Mixed Use Office/Retail/Multifamily 4.99700% 0.0144% Actual/360 120 119 0 0 03/30/2018 05/06/2018 04/06/2028
Loan 17.00 Mariano’s Palatine 2.0% 1 LCM 20,317,500 20,317,500   20,317,500   Retail Single Tenant 4.83600% 0.0144% Actual/360 120 115 0 0 11/28/2017 01/06/2018 12/06/2027
Loan 18.00 Miramar Town Center 1.7% 1 LCM 17,250,000 17,250,000   15,784,329   Mixed Use Office/Retail/Multifamily 4.49700% 0.0144% Actual/360 120 115 360 360 11/21/2017 01/06/2018 12/06/2027
Loan 19.00 North West Square 1.6% 1 CREFI 16,388,000 16,388,000   13,445,267   Retail Anchored 4.93000% 0.0344% Actual/360 120 120 360 360 04/11/2018 06/06/2018 05/06/2028
Loan 20.00 2857 West 8th Street 1.4% 1 CREFI 14,300,000 14,300,000   14,300,000   Mixed Use Office/Retail 4.80000% 0.0144% Actual/360 120 119 0 0 03/29/2018 05/06/2018 04/06/2028
Loan 21.00 Gaviidae Common 1.4% 1 LCM 14,200,000 14,200,000   14,200,000   Mixed Use Office/Retail 4.29000% 0.0144% Actual/360 120 119 0 0 03/12/2018 05/06/2018 04/06/2028
Loan 22.00 266 Broadway 1.3% 1 CREFI 13,120,000 13,120,000   13,120,000   Office CBD 4.93000% 0.0144% Actual/360 120 119 0 0 03/21/2018 05/06/2018 04/06/2028
Loan 23.00 Hawthorn Commons 1.3% 1 GACC 13,000,000 13,000,000   13,000,000   Mixed Use Medical Office/Retail 4.72000% 0.0144% Actual/360 120 119 0 0 03/09/2018 05/06/2018 04/06/2028
Loan 24.00 The Plazas at Summerlin 1.3% 1 LCM 12,800,000 12,800,000   11,786,539   Office Suburban 4.90100% 0.0144% Actual/360 120 116 360 360 12/28/2017 02/06/2018 01/06/2028
Loan 25.00 Fairfield Inn Charleston Airport 1.2% 1 CREFI 12,500,000 12,485,848   10,384,777   Hospitality Limited Service 5.32000% 0.0144% Actual/360 120 119 360 359 03/16/2018 05/06/2018 04/06/2028
Loan 26.00 Perimeter Place 1.1% 1 LCM 10,750,000 10,750,000   9,156,545   Office Suburban 5.31800% 0.0144% Actual/360 120 117 360 360 01/18/2018 03/06/2018 02/06/2028
Loan 27.00 Kohl's Westland 1.0% 1 CREFI 10,100,000 10,100,000   8,965,133   Retail Single Tenant 5.12000% 0.0144% Actual/360 120 118 360 360 02/20/2018 04/06/2018 03/06/2028
Loan 28.00 Four Points by Sheraton Miami Beach 1.0% 1 LCM 10,000,000 10,000,000   10,000,000   Hospitality Full Service 4.58600% 0.0144% Actual/360 120 120 0 0 04/16/2018 06/06/2018 05/06/2028
Loan 29.00 Best Western Plus Atlantic Beach Resort 1.0% 1 LCM 10,000,000 10,000,000   10,000,000   Hospitality Full Service 4.61600% 0.0144% Actual/360 120 116 0 0 12/28/2017 02/06/2018 01/06/2028
Loan 30.00 Walgreens & Fresenius Portfolio 0.9% 2 LCM 9,450,000 9,450,000   9,450,000   Various Various 4.55400% 0.0144% Actual/360 120 112 0 0 08/18/2017 10/06/2017 09/06/2027
Property 30.01 Walgreens 0.6% 1 LCM 6,150,000 6,150,000       Retail Single Tenant                    
Property 30.02 Fresenius 0.3% 1 LCM 3,300,000 3,300,000       Office Medical                    
Loan 31.00 LA Fitness Apple Valley 0.9% 1 LCM 9,100,000 9,006,068   7,368,942   Retail Single Tenant 4.55000% 0.0144% Actual/360 120 112 360 352 08/31/2017 10/06/2017 09/06/2027
Loan 32.00 Maple Ridge Plaza 0.8% 1 LCM 8,500,000 8,500,000   7,297,564   Retail Anchored 4.69700% 0.0144% Actual/360 120 112 360 360 08/29/2017 10/06/2017 09/06/2027
Loan 33.00 Preston Place 0.8% 1 LCM 8,200,000 8,200,000   7,316,697   Retail Anchored 5.36800% 0.0144% Actual/360 120 119 360 360 03/14/2018 05/06/2018 04/06/2028
Loan 34.00 Waterfront Village 0.8% 1 JPMCB 8,200,000 8,189,912   6,714,265   Office CBD 4.87200% 0.0619% Actual/360 120 119 360 359 03/09/2018 05/01/2018 04/01/2028
Loan 35.00 CVS Gainesville 0.7% 1 LCM 7,475,000 7,475,000   7,475,000   Retail Single Tenant 4.41400% 0.0144% Actual/360 120 116 0 0 12/07/2017 02/06/2018 01/06/2028
Loan 36.00 Safeway 0.7% 1 JPMCB 7,170,000 7,170,000   7,170,000   Retail Single Tenant 4.57700% 0.0144% Actual/360 120 119 0 0 03/27/2018 05/01/2018 04/01/2028
Loan 37.00 Gateway Airport Crossing 0.6% 1 CREFI 6,000,000 5,992,710   4,923,923   Retail Anchored 4.94000% 0.0144% Actual/360 120 119 360 359 03/16/2018 05/06/2018 04/06/2028
Loan 38.00 White Lake Commons 0.5% 1 CREFI 5,400,000 5,393,536   4,443,166   Retail Anchored 5.02000% 0.0144% Actual/360 120 119 360 359 03/14/2018 05/06/2018 04/06/2028
Loan 39.00 Xcelience-Lonza Tampa HQ Building 0.5% 1 LCM 4,800,000 4,800,000   4,101,753   Industrial Warehouse/Flex 4.52100% 0.0144% Actual/360 120 116 360 360 12/19/2017 02/06/2018 01/06/2028
Loan 40.00 Mall Plaza Apartments 0.4% 1 LCM 4,400,000 4,394,766   3,624,371   Multifamily Mid-Rise 5.05400% 0.0144% Actual/360 120 119 360 359 03/15/2018 05/06/2018 04/06/2028
Loan 41.00 Arkema 0.4% 1 CREFI 4,030,000 4,030,000   4,030,000   Mixed Use Industrial/Office 4.68000% 0.0144% Actual/360 120 119 0 0 03/16/2018 05/06/2018 04/06/2028

 

A-1-1

 

 

COMM 2018-COR3

 

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

 

              Pari Passu Pari Passu                        
          Monthly Annual Companion Loan Companion Loan Remaining     Crossed               FIRREA
      ARD Loan Final Debt Debt Monthly Debt Annual Debt Interest Only   Cash With Related Underwritten Underwritten Grace Payment Appraised Appraisal Compliant
Property Flag ID Property Name (Yes/No) Maturity Date Service($)(7) Service($)(7) Service($)(7) Service($)(7) Period  Lockbox(8)  Management(9) Other Loans Borrower NOI DSCR(7)(10) NCF DSCR(7)(10) Period(12) Date Value ($)(13) As-of Date (Yes/No)
Loan 1.00 930 Flushing No 05/06/2028 351,988 4,223,861     120 Hard In Place No   2.92x 2.83x 0 6 195,000,000 03/28/2018 Yes
Loan 2.00 Hyatt @ Olive 8 No 04/06/2028 318,969 3,827,633     119 Hard Springing No Yes - A 2.72x 2.25x 0 6 148,700,000 03/08/2017 Yes
Loan 3.00 Kingswood Center No 02/06/2028 280,360 3,364,317     117 Hard In Place No   1.34x 1.29x 0 6 95,000,000 10/12/2017 Yes
Loan 4.00 1001 North Shoreline Boulevard(29) Yes 04/06/2030 188,678 2,264,131     119 Hard Springing No   3.52x 3.52x 0 6 171,000,000 04/01/2018 Yes
Loan 5.00 Beekman Tower No 04/06/2028 246,637 2,959,648     119 Soft Springing No   1.62x 1.60x 0 6 146,000,000 03/20/2018 Yes
Loan 6.00 Grand Hyatt Seattle(2) No 06/06/2027 200,243 2,402,917 332,403 3,988,842 109 Hard Springing No Yes - A 2.45x 2.12x 0 6 242,300,000 03/08/2017 Yes
Loan 7.00 315 West 36th Street(2) No 03/06/2028 178,896 2,146,758 114,189 1,370,271 118 Hard Springing No   1.49x 1.39x 0 6 127,000,000 01/22/2018 Yes
Loan 8.00 240 East 54th Street No 10/06/2027 145,919 1,751,027     113 Hard Springing No   1.64x 1.63x 0 6 73,000,000 08/24/2017 Yes
Loan 9.00 Atlantic Times Square(2) No 04/01/2028 163,743 1,964,917 237,427 2,849,129 119 Springing Hard Springing No   1.94x 1.86x 0 1 163,800,000 02/01/2018 Yes
Loan 10.00 Shoreline Center No 02/06/2028 138,759 1,665,114     117 Hard In Place No   2.44x 2.32x 0 6 60,000,000 03/01/2018 Yes
Loan 11.00 San Antonio Business Park No 11/06/2027 176,950 2,123,405     18 Soft Springing Hard Springing No   1.59x 1.44x 0 6 45,600,000 09/14/2017 Yes
Loan 12.00 Best Western Plus Hacienda Hotel Old Town No 04/06/2028 135,734 1,628,813     119 Hard Springing No   2.15x 1.92x 0 6 58,100,000 09/13/2017 Yes
Loan 13.00 Lehigh Valley Mall(2) No 11/01/2027 144,195 1,730,338 817,104 9,805,248   Hard Springing No   2.16x 2.07x 0 1 445,000,000 09/04/2017 Yes
Loan 14.00 Sherman Oaks Collection No 01/06/2028 87,797 1,053,568     116 Hard Springing No   1.59x 1.53x 0 6 35,200,000 11/20/2017 Yes
Loan 15.00 NYC Parking Portfolio(30) No 10/06/2027 81,279 975,345     113 Hard Springing No   1.66x 1.65x 0 6 34,100,000 Various Yes
Property 15.01 The Corinthian Parking Garage                               23,500,000 08/10/2017 Yes
Property 15.02 Rector Place Parking Garage                               5,900,000 08/10/2017 Yes
Property 15.03 Riverside Drive Parking Garage                               4,700,000 08/09/2017 Yes
Loan 16.00 644 Broadway No 04/06/2028 89,506 1,074,077     119 Hard Springing No   1.66x 1.58x 0 6 33,800,000 03/08/2018 Yes
Loan 17.00 Mariano’s Palatine No 12/06/2027 83,017 996,201     115 Hard Springing No   1.70x 1.69x 0 6 29,850,000 10/08/2017 Yes
Loan 18.00 Miramar Town Center No 12/06/2027 87,372 1,048,470     55 Hard Springing No   2.06x 1.85x 0 6 25,100,000 08/21/2017 Yes
Loan 19.00 North West Square No 05/06/2028 87,275 1,047,295       Springing Hard Springing No   1.57x 1.44x 0 6 23,400,000 03/26/2018 Yes
Loan 20.00 2857 West 8th Street No 04/06/2028 57,994 695,933     119 Springing Hard Springing No Yes - D 1.74x 1.64x 0 6 24,500,000 02/06/2018 Yes
Loan 21.00 Gaviidae Common No 04/06/2028 51,470 617,641     119 Hard Springing No Yes - B 2.26x 2.25x 0 6 26,350,000 01/29/2018 Yes
Loan 22.00 266 Broadway No 04/06/2028 54,650 655,800     119 Soft Springing Hard Springing No   1.81x 1.69x 0 6 20,500,000 02/16/2018 Yes
Loan 23.00 Hawthorn Commons No 04/06/2028 51,844 622,122     119 Hard Springing No   2.00x 2.00x 0 6 20,600,000 02/05/2018 Yes
Loan 24.00 The Plazas at Summerlin No 01/06/2028 67,941 815,290     56 Hard Springing No Yes - B 1.93x 1.83x 0 6 21,770,000 10/25/2017 Yes
Loan 25.00 Fairfield Inn Charleston Airport No 04/06/2028 69,568 834,821       Hard Springing No   1.78x 1.61x 0 6 18,800,000 02/01/2019 Yes
Loan 26.00 Perimeter Place No 02/06/2028 59,815 717,786     9 Hard Springing No   1.38x 1.25x 0 6 14,650,000 12/05/2017 Yes
Loan 27.00 Kohl's Westland No 03/06/2028 54,962 659,545     34 Hard Springing No   1.64x 1.59x 0 6 14,700,000 01/26/2018 Yes
Loan 28.00 Four Points by Sheraton Miami Beach No 05/06/2028 38,747 464,969     120 Springing Hard Springing No Yes - C 7.50x 6.07x 0 6 60,000,000 03/01/2018 Yes
Loan 29.00 Best Western Plus Atlantic Beach Resort No 01/06/2028 39,001 468,011     116 Springing Hard Springing No Yes - C 5.44x 4.51x 0 6 44,000,000 11/01/2017 Yes
Loan 30.00 Walgreens & Fresenius Portfolio No 09/06/2027 36,361 436,330     112 Hard Springing No Yes - B/E 2.17x 2.16x 0 6 17,050,000 Various Yes
Property 30.01 Walgreens                               11,000,000 07/19/2017 Yes
Property 30.02 Fresenius                               6,050,000 07/24/2017 Yes
Loan 31.00 LA Fitness Apple Valley No 09/06/2027 46,379 556,549       Hard In Place No   1.47x 1.45x 0 6 13,200,000 07/27/2017 Yes
Loan 32.00 Maple Ridge Plaza No 09/06/2027 44,069 528,827     16 Hard Springing No Yes - C 1.59x 1.41x 0 6 12,150,000 02/01/2018 Yes
Loan 33.00 Preston Place No 04/06/2028 45,882 550,582     35 Hard In Place No   1.53x 1.41x 0 6 12,000,000 10/23/2017 Yes
Loan 34.00 Waterfront Village No 04/01/2028 43,380 520,562       Hard Springing No   2.30x 2.01x 0 1 13,000,000 02/15/2018 Yes
Loan 35.00 CVS Gainesville No 01/06/2028 27,877 334,529     116 Hard Springing No   1.94x 1.92x 0 6 10,900,000 09/13/2017 Yes
Loan 36.00 Safeway No 04/01/2028 27,727 332,729     119 Hard Springing No   2.06x 2.03x 0 1 13,500,000 03/02/2018 Yes
Loan 37.00 Gateway Airport Crossing No 04/06/2028 31,990 383,876       Hard Springing No   1.51x 1.42x 0 6 8,340,000 01/25/2018 Yes
Loan 38.00 White Lake Commons No 04/06/2028 29,054 348,653       Springing Hard Springing No   1.38x 1.29x 0 6 7,610,000 02/14/2018 Yes
Loan 39.00 Xcelience-Lonza Tampa HQ Building No 01/06/2028 24,381 292,570     20 Hard Springing No Yes - E 1.72x 1.62x 0 6 7,500,000 11/07/2017 Yes
Loan 40.00 Mall Plaza Apartments No 04/06/2028 23,766 285,187       Soft Springing No   1.44x 1.40x 0 6 6,350,000 02/21/2018 Yes
Loan 41.00 Arkema No 04/06/2028 15,935 191,223     119 Springing Hard Springing No Yes - D 2.78x 2.53x 0 6 7,900,000 02/06/2018 Yes

 

A-1-2

 

 

COMM 2018-COR3

 

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

                                 
      Cut-Off                 Net Units Loan per Net    
      Date LTV LTV Ratio at           Year Year Rentable Area of Rentable Area   Prepayment Provisions
Property Flag ID Property Name Ratio(10)(13) Maturity or ARD(10)(13) Address City County State Zip Code Built Renovated (SF/Units/Rooms/Spaces)(4) Measure(4) (SF/Unit/Room/Space)($)(4)(10)   (# of payments)(14)(15)(16)
Loan 1.00 930 Flushing 51.3% 51.3% 930 Flushing Avenue Brooklyn Kings NY 11206 1988 2009 315,644 Sq. Ft. 317   L(24), D(92), O(4)
Loan 2.00 Hyatt @ Olive 8 52.5% 52.5% 1635 8th Avenue Seattle King WA 98101 2009 NAP 346 Rooms 225,434   L(36), D(91), O(4)
Loan 3.00 Kingswood Center 68.9% 68.9% 1630 East 15th Street Brooklyn Kings NY 11229 2007 NAP 130,218 Sq. Ft. 503   L(27), D(89), O(4)
Loan 4.00 1001 North Shoreline Boulevard(29) 37.7% 37.7% 1001 North Shoreline Boulevard Mountain View Santa Clara CA 95051 2017 NAP 123,374 Sq. Ft. 522   L(25), D(88), O(7)
Loan 5.00 Beekman Tower 43.2% 43.2% 3 Mitchell Place New York New York NY 10017 1928 2014 178 Units 353,933   L(34), D(92), O(3)
Loan 6.00 Grand Hyatt Seattle(2) 54.9% 54.9% 721 Pine Street Seattle King WA 98101 2001 2014 457 Rooms 291,028   L(36), D(81), O(4)
Loan 7.00 315 West 36th Street(2) 60.6% 60.6% 315 West 36th Street New York New York NY 10018 1926 2015 143,479 Sq. Ft. 537   L(26), D(90), O(4)
Loan 8.00 240 East 54th Street 57.5% 57.5% 240 East 54th Street New York New York NY 10022 1925 2015 29,950 Sq. Ft. 1,402   L(31), D(85), O(4)
Loan 9.00 Atlantic Times Square(2) 59.8% 59.8% 500 North Atlantic Boulevard Monterey Park Los Angeles CA 91754 2010 NAP 379,376 Sq. Ft. 258   L(25), D(91), O(4)
Loan 10.00 Shoreline Center 63.8% 63.8% 130 - 150 Shoreline Drive Redwood City San Mateo CA 94065 1985 2017 81,569 Sq. Ft. 470   L(27), D(88), O(5)
Loan 11.00 San Antonio Business Park 74.6% 64.1% 1006/1046 Central Parkway South & 121 Interpark Boulevard San Antonio Bexar TX 78232 1982, 1983, 1984, 1996 NAP 411,631 Sq. Ft. 83   L(30), D(87), O(3)
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 54.2% 54.2% 4041 Harney Street San Diego San Diego CA 92110 1988 1997 200 Rooms 157,500   L(25), D(91), O(4)
Loan 13.00 Lehigh Valley Mall(2) 44.6% 35.8% 250 Lehigh Valley Mall Whitehall Lehigh PA 18052 1976 2006 545,233 Sq. Ft. 364   L(30), D(83), O(7)
Loan 14.00 Sherman Oaks Collection 63.6% 63.6% 4550-4578 Van Nuys Boulevard Sherman Oaks Los Angeles CA 91403 1960 2017 31,285 Sq. Ft. 716   L(28), D(88), O(4)
Loan 15.00 NYC Parking Portfolio(30) 63.6% 63.6% Various New York New York NY Various Various NAP 268 Spaces 80,877   L(31), D(86), O(3)
Property 15.01 The Corinthian Parking Garage     345 East 37th Street New York New York NY 10016 1989 NAP 186 Spaces 80,877    
Property 15.02 Rector Place Parking Garage     333 Rector Place New York New York NY 10280 1985 NAP 46 Spaces 80,877    
Property 15.03 Riverside Drive Parking Garage     222 Riverside Drive New York New York NY 10025 1989 NAP 36 Spaces 80,877    
Loan 16.00 644 Broadway 62.7% 62.7% 644-660 Broadway San Francisco San Francisco CA 94133 1963 2017 50,718 Sq. Ft. 418   L(25), D(91), O(4)
Loan 17.00 Mariano’s Palatine 68.1% 68.1% 545 North Hicks Road Palatine Cook IL 60067 2012 NAP 71,324 Sq. Ft. 285   L(29), D(88), O(3)
Loan 18.00 Miramar Town Center 68.7% 62.9% 2401/2403 Main Street; 11606/11611 City Hall Promenade Miramar Broward FL 33025 2008, 2014 NAP 153,569 Sq. Ft. 112   L(29), D(88), O(3)
Loan 19.00 North West Square 70.0% 57.5% 6600-6700 Sawmill Road Columbus Franklin OH 43235 1984 1996, 2014 112,862 Sq. Ft. 145   L(24), D(93), O(3)
Loan 20.00 2857 West 8th Street 58.4% 58.4% 2857 West 8th Street Brooklyn Kings NY 11224 1931 2016 52,302 Sq. Ft. 273   L(25), D(91), O(4)
Loan 21.00 Gaviidae Common 53.9% 53.9% 655 Nicolet Mall Minneapolis Hennepin MN 55402 1988-1992 2015 48,256 Sq. Ft. 294   L(25), D(92), O(3)
Loan 22.00 266 Broadway 64.0% 64.0% 266 Broadway Brooklyn Kings NY 11211 1910 2006 30,086 Sq. Ft. 436   L(25), D(92), O(3)
Loan 23.00 Hawthorn Commons 63.1% 63.1% 850-870 North Milwaukee Avenue Vernon Hills Lake IL 60061 1988 2016 47,381 Sq. Ft. 274   L(25), D(90), O(5)
Loan 24.00 The Plazas at Summerlin 58.8% 54.1% 1635-1645 Village Center Circle Las Vegas Clark NV 89134 1995 2014/2017 88,019 Sq. Ft. 145   L(28), D(89), O(3)
Loan 25.00 Fairfield Inn Charleston Airport 66.4% 55.2% 4841 Tanger Outlet Blvd North Charleston Charleston SC 29418 2000 2010 102 Rooms 122,410   L(25), D(91), O(4)
Loan 26.00 Perimeter Place 73.4% 62.5% 800 Mount Vernon Highway Atlanta Fulton GA 30328 1996 NAP 81,654 Sq. Ft. 132   L(27), D(90), O(3)
Loan 27.00 Kohl's Westland 68.7% 61.0% 35000 Warren Road Westland Wayne MI 48185 1987 1996 90,860 Sq. Ft. 111   L(26), D(91), O(3)
Loan 28.00 Four Points by Sheraton Miami Beach 16.7% 16.7% 4343 Collins Avenue Miami Beach Miami-Dade FL 33140 1938 2011/2014 216 Rooms 46,296   L(24), D(92), O(4)
Loan 29.00 Best Western Plus Atlantic Beach Resort 22.7% 22.7% 4101 Collins Avenue Miami Beach Miami-Dade FL 33140 1955 2017 186 Rooms 53,763   L(28), D(88), O(4)
Loan 30.00 Walgreens & Fresenius Portfolio 55.4% 55.4% Various Various Various Various Various Various NAP 25,032 Sq. Ft. 378   L(32), D(85), O(3)
Property 30.01 Walgreens     350 Preakness Avenue Paterson Passaic NJ 07502 2011 NAP 14,820 Sq. Ft. 378    
Property 30.02 Fresenius     1208 Scottsville Road Chili Monroe NY 14624 2017 NAP 10,212 Sq. Ft. 378    
Loan 31.00 LA Fitness Apple Valley 68.2% 55.8% 15135 Galaxie Avenue Apple Valley Dakota MN 55124 2007 NAP 45,050 Sq. Ft. 200   L(32), YM1(84), O(4)
Loan 32.00 Maple Ridge Plaza 70.0% 60.1% 4220-4224 Maple Road Amherst Erie NY 14226 1986, 1995 1998 103,356 Sq. Ft. 82   L(32), D(84), O(4)
Loan 33.00 Preston Place 68.3% 61.0% 3430 Preston Highway Louisville Jefferson KY 40213 1968 2011 134,019 Sq. Ft. 61   L(25), D(88), O(7)
Loan 34.00 Waterfront Village 63.0% 51.6% 50-60 Lakefront Boulevard Buffalo Erie NY 14202 1981 2014 132,098 Sq. Ft. 62   L(25), D(91), O(4)
Loan 35.00 CVS Gainesville 68.6% 68.6% 1621 SW 13th Street Gainesville Alachua FL 32608 2011 NAP 27,958 Sq. Ft. 267   L(28), D(88), O(4)
Loan 36.00 Safeway 53.1% 53.1% 10105 224th Street E Graham Pierce WA 98338 1987 2007 46,779 Sq. Ft. 153   L(25), D(91), O(4)
Loan 37.00 Gateway Airport Crossing 71.9% 59.0% 5221-5229 South Power Road Mesa Maricopa AZ 85212 2007 NAP 29,650 Sq. Ft. 202   L(25), D(91), O(4)
Loan 38.00 White Lake Commons 70.9% 58.4% 10805 & 10815 Highland Road White Lake Oakland MI 48386 1993 2017 64,291 Sq. Ft. 84   L(25), D(92), O(3)
Loan 39.00 Xcelience-Lonza Tampa HQ Building 64.0% 54.7% 4910 Savarese Circle Tampa Hillsborough FL 33634 1982 2015 71,150 Sq. Ft. 67   L(28), D(89), O(3)
Loan 40.00 Mall Plaza Apartments 69.2% 57.1% 157 South Kalamazoo Mall Kalamazoo Kalamazoo MI 49007 1980 2015 21 Units 209,275   L(25), D(91), O(4)
Loan 41.00 Arkema 51.0% 51.0% 410 Gregson Drive Cary Wake NC 27511 1984 2017 39,223 Sq. Ft. 103   L(25), D(91), O(4)

 

A-1-3

 

 

COMM 2018-COR3

 

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

                                       
              Second Most Second Second Second Third Most Third Third Third          
      Most Recent Operating Most Recent Most Recent Most Recent Recent Operating Most Recent Most Recent Most Recent Recent Operating Most Recent Most Recent Most Recent Underwritten NOI Underwritten NCF  Underwritten  Underwritten  Underwritten
Property Flag ID Property Name Statements Date EGI ($) Expenses($) NOI($)(11) Statements Date EGI($) Expenses($) NOI($) Statements Date EGI($) Expenses($) NOI($) Debt Yield(10) Debt Yield(10)  Revenue($)  EGI($)  Expenses($)
Loan 1.00 930 Flushing                         12.3% 12.0% 14,504,957 13,779,709 1,446,643
Loan 2.00 Hyatt @ Olive 8 12/31/2017 35,982,428 25,509,870 10,472,558 12/31/2016 33,659,712 24,351,711 9,308,001 12/31/2015 33,363,650 23,601,471 9,762,179 13.3% 11.0% 35,851,376 35,851,376 25,450,025
Loan 3.00 Kingswood Center 11/30/2017 5,802,624 1,047,768 4,754,856 12/31/2016 5,401,538 978,691 4,422,847 12/31/2015 5,212,223 952,483 4,259,740 6.9% 6.6% 4,692,578 6,323,651 1,801,293
Loan 4.00 1001 North Shoreline Boulevard(29)                         12.4% 12.4% 8,740,650 10,644,159 2,677,053
Loan 5.00 Beekman Tower 12/31/2017 9,972,378 5,091,284 4,881,094 12/31/2017 9,130,225 5,075,616 4,054,610 12/31/2016 8,169,573 5,353,773 2,815,801 7.6% 7.5% 11,517,095 10,105,712 5,309,972
Loan 6.00 Grand Hyatt Seattle(2) 12/31/2017 43,235,832 27,217,686 16,018,146 12/31/2016 42,069,129 26,736,437 15,332,692 12/31/2015 40,411,207 25,893,073 14,518,134 11.8% 10.2% 42,797,616 42,797,616 27,106,761
Loan 7.00 315 West 36th Street(2) 12/31/2017 6,266,317 2,067,234 4,199,083 12/31/2016 4,297,186 1,848,221 2,448,965         6.8% 6.4% 7,494,945 7,347,271 2,090,863
Loan 8.00 240 East 54th Street 08/31/2017 2,836,144 632,070 2,204,074                 6.8% 6.8% 3,101,422 3,551,939 688,715
Loan 9.00 Atlantic Times Square(2) 02/28/2018 14,504,628 4,526,658 9,977,969 12/31/2017 14,417,337 4,498,174 9,919,162 12/31/2016 13,515,561 4,235,008 9,280,553 9.5% 9.2% 13,998,264 14,250,505 4,913,494
Loan 10.00 Shoreline Center                         10.6% 10.1% 4,638,823 5,256,973 1,202,258
Loan 11.00 San Antonio Business Park 08/31/2017 5,482,613 1,959,946 3,522,668 12/31/2016 5,210,811 1,972,656 3,238,155 12/31/2015 5,032,086 1,747,656 3,284,431 9.9% 9.0% 5,985,107 5,379,700 2,004,299
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 12/31/2017 9,264,197 5,519,897 3,744,300 12/31/2016 9,388,068 5,298,083 4,089,985 12/31/2015 9,168,360 5,003,690 4,164,670 11.1% 9.9% 9,176,070 9,176,070 5,676,951
Loan 13.00 Lehigh Valley Mall(2) 08/31/2017 35,447,338 9,071,090 26,376,248 12/31/2016 36,598,789 9,104,230 27,494,559 12/31/2015 36,151,146 9,508,909 26,642,237 12.6% 12.1% 22,940,810 33,855,087 8,922,902
Loan 14.00 Sherman Oaks Collection                         7.5% 7.2% 1,886,034 2,213,985 543,668
Loan 15.00 NYC Parking Portfolio(30) 07/31/2017 2,515,172 496,610 2,018,562 12/31/2016 2,252,297 475,856 1,776,441         7.5% 7.4% 1,740,000 2,225,978 603,135
Property 15.01 The Corinthian Parking Garage 07/31/2017 1,476,977 286,283 1,190,694 12/31/2016 1,399,720 264,354 1,135,366             1,200,000 1,479,743 357,624
Property 15.02 Rector Place Parking Garage 07/31/2017 647,197 141,066 506,131 12/31/2016 565,878 143,597 422,281             300,000 437,753 160,792
Property 15.03 Riverside Drive Parking Garage 07/31/2017 390,998 69,261 321,737 12/31/2016 286,699 67,905 218,794             240,000 308,482 84,718
Loan 16.00 644 Broadway 12/31/2017 2,436,451 925,215 1,511,236 12/31/2016 1,608,563 696,461 912,102 12/31/2015 936,933 566,421 370,511 8.4% 8.0% 2,085,059 2,706,942 927,377
Loan 17.00 Mariano’s Palatine 06/30/2017 1,645,800   1,645,800 12/31/2016 1,519,201   1,519,201 12/31/2015 1,519,201   1,519,201 8.3% 8.3% 1,786,737 1,747,195 52,416
Loan 18.00 Miramar Town Center 12/31/2016 3,278,514 1,499,744 1,778,770 12/31/2015 3,079,242 1,414,410 1,664,832         12.5% 11.2% 3,109,302 3,844,979 1,690,114
Loan 19.00 North West Square 02/28/2018 2,394,916 538,891 1,856,025 12/31/2017 2,407,820 562,887 1,844,933 12/31/2015 1,988,062 572,955 1,415,107 10.1% 9.2% 2,787,799 2,665,338 1,016,902
Loan 20.00 2857 West 8th Street 12/31/2017 1,713,513 498,179 1,215,334                 8.5% 8.0% 1,877,508 1,823,667 610,327
Loan 21.00 Gaviidae Common 12/31/2017 2,515,627 1,083,044 1,432,583 12/31/2016 2,035,716 803,414 1,232,303         9.8% 9.8% 1,482,983 2,557,575 1,161,722
Loan 22.00 266 Broadway 12/31/2017 1,194,408 94,976 1,099,432 12/31/2016 1,101,686 89,879 1,011,808 12/31/2015 1,030,455 85,864 944,591 9.0% 8.5% 1,427,774 1,359,660 172,663
Loan 23.00 Hawthorn Commons 12/31/2017 1,529,959 474,583 1,055,376                 9.6% 9.6% 1,542,348 1,718,067 472,276
Loan 24.00 The Plazas at Summerlin 10/31/2017 1,602,002 750,629 851,373 12/31/2016 1,898,616 715,351 1,183,265 12/31/2015 1,696,838 731,731 965,107 12.3% 11.6% 2,656,029 2,396,327 825,116
Loan 25.00 Fairfield Inn Charleston Airport 01/31/2018 3,713,022 2,168,195 1,544,827 12/31/2017 3,773,874 2,203,213 1,570,661 12/31/2016 4,086,557 2,334,426 1,752,131 11.9% 10.7% 3,713,022 3,713,022 2,223,491
Loan 26.00 Perimeter Place 11/30/2017 1,529,541 689,511 840,030 12/31/2016 1,370,093 672,805 697,288 12/31/2015 1,235,742 611,361 624,381 9.2% 8.4% 1,844,294 1,721,427 727,432
Loan 27.00 Kohl's Westland                         10.7% 10.4% 1,144,405 1,122,948 42,774
Loan 28.00 Four Points by Sheraton Miami Beach 02/01/2018 13,365,007 9,853,079 3,511,928 12/31/2017 13,074,645 9,794,847 3,279,798 12/31/2016 14,122,217 10,175,059 3,947,158 34.9% 28.2% 13,365,007 8,174,367 9,875,812
Loan 29.00 Best Western Plus Atlantic Beach Resort 02/28/2018 8,665,066 6,054,548 2,610,518 12/31/2017 8,261,956 5,817,096 2,444,860 12/31/2016 8,080,330 5,943,967 2,136,363 25.5% 21.1% 8,665,066 8,665,066 6,118,934
Loan 30.00 Walgreens & Fresenius Portfolio                         10.0% 10.0% 948,537 977,874 29,336
Property 30.01 Walgreens                             576,000 593,814 17,814
Property 30.02 Fresenius                             372,537 384,059 11,522
Loan 31.00 LA Fitness Apple Valley 12/31/2017 963,349   963,349 12/31/2016 963,349   963,349 12/31/2015 963,349   963,349 9.1% 9.0% 864,000 844,879 25,346
Loan 32.00 Maple Ridge Plaza 06/30/2017 987,366 428,203 559,163 12/31/2016 972,068 436,125 535,943 12/31/2015 1,312,467 426,778 885,689 9.9% 8.8% 974,306 1,299,057 458,924
Loan 33.00 Preston Place 11/30/2017 700,253 265,770 434,483 12/31/2016 918,431 215,593 702,838 12/31/2015 904,027 218,879 685,148 10.3% 9.4% 955,034 1,188,825 344,141
Loan 34.00 Waterfront Village 01/31/2018 2,192,001 49,500 2,142,501 12/31/2017 2,318,625 1,118,946 1,199,679 12/31/2016 2,242,981 1,244,377 998,604 14.6% 12.8% 2,464,894 2,341,649 1,142,893
Loan 35.00 CVS Gainesville 09/30/2017 647,746   647,746 12/31/2016 647,746   647,746 12/31/2015 647,746   647,746 8.7% 8.6% 647,746 667,779 20,033
Loan 36.00 Safeway                         9.6% 9.4% 709,246 923,035 237,457
Loan 37.00 Gateway Airport Crossing 12/31/2017 723,519 176,488 547,031 12/31/2016 599,850 158,304 441,546 12/31/2015 568,942 147,557 421,385 9.7% 9.1% 830,124 753,505 172,427
Loan 38.00 White Lake Commons                         9.0% 8.4% 815,397 774,628 291,790
Loan 39.00 Xcelience-Lonza Tampa HQ Building 03/28/2018 630,669 94,324 536,345 12/31/2016 296,926 17,095 279,831 12/31/2015 170,148 88,496 81,651 10.5% 9.9% 536,345 595,619 93,273
Loan 40.00 Mall Plaza Apartments 12/31/2017 497,077 187,290 309,787 T-6 Ann. 12/31/2017 490,444 187,290 303,154 T-9 Ann. 12/31/2017 470,610 187,290 283,320 9.3% 9.1% 476,640 618,565 208,167
Loan 41.00 Arkema 12/31/2017 528,532 15,856 512,676 12/31/2016 443,299 13,299 430,000 12/31/2015 443,299 13,299 430,000 13.2% 12.0% 588,503 559,078 28,346

 

A-1-4

 

 

COMM 2018-COR3

 

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

                               
                               
       Underwritten  Underwritten Underwritten Underwritten Ownership Ground Lease Ground Lease     Lease     Lease
Property Flag ID Property Name  NOI ($)(11)  Reserves($) TI/LC($) NCF ($) Interest(17)  Expiration(18)  Extension Terms(18) Largest Tenant(19)(20)(21)(22) SF   Expiration(20) 2nd Largest Tenant(19)(20)(22) SF Expiration(20)
Loan 1.00 930 Flushing 12,333,066 37,877 321,957 11,973,231 Fee Simple     New York City Emergency Management 315,644 10/31/2036 NAP NAP NAP
Loan 2.00 Hyatt @ Olive 8 10,401,352 1,792,569   8,608,783 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 3.00 Kingswood Center 4,522,357 26,044 171,888 4,324,426 Fee Simple     Visiting Nurse Service of NY 58,387 06/30/2022 TJ Maxx 26,644 10/31/2030
Loan 4.00 1001 North Shoreline Boulevard(29) 7,967,106     7,967,106 Fee Simple     Google LLC 123,374 03/31/2030 NAP NAP NAP
Loan 5.00 Beekman Tower 4,795,740 71,200   4,724,540 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 6.00 Grand Hyatt Seattle(2) 15,690,855 2,139,881   13,550,974 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 7.00 315 West 36th Street(2) 5,256,409 28,696 332,028 4,895,685 Fee Simple     WeWork 133,208 06/30/2031 CrossFit LLC 3,446 11/30/2018
Loan 8.00 240 East 54th Street 2,863,224 5,990 10,483 2,846,752 Fee Simple     Blink Fitness 20,500 01/31/2035 Clean Market 3,800 01/31/2035
Loan 9.00 Atlantic Times Square(2) 9,337,011 56,926 312,849 8,967,236 Fee Simple     AMC Theater 75,000 08/31/2030 24 Hour Fitness 30,842 08/31/2025
Loan 10.00 Shoreline Center 4,054,715 17,129 171,295 3,866,290 Fee Simple     Auris Surgical Robotics, Inc. 81,569 04/30/2025 NAP NAP NAP
Loan 11.00 San Antonio Business Park 3,375,401 127,606 181,118 3,066,678 Fee Simple     Clear Visions 48,560 05/31/2023 Xenex Healthcare Services, LLC 29,720 05/31/2021
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 3,499,120 367,043   3,132,077 Fee Simple / Leasehold 02/20/2061 2, 20-year options NAP NAP NAP NAP NAP NAP
Loan 13.00 Lehigh Valley Mall(2) 24,932,185 81,785 923,571 23,926,829 Fee Simple     Bob's Discount Furniture 30,204 03/31/2028 Barnes & Noble 29,874 01/31/2023
Loan 14.00 Sherman Oaks Collection 1,670,317 6,257 48,179 1,615,881 Fee Simple     Ulta 10,660 04/30/2027 FedEx 3,375 03/31/2027
Loan 15.00 NYC Parking Portfolio(30) 1,622,843 13,400   1,609,443 Various                
Property 15.01 The Corinthian Parking Garage 1,122,119 9,300   1,112,819 Fee Simple     Park-It Management Corinthian 186 09/30/2029 NAP NAP NAP
Property 15.02 Rector Place Parking Garage 276,960 2,300   274,660 Leasehold 06/17/2069 None Park-It Management Rector 46 09/30/2029 NAP NAP NAP
Property 15.03 Riverside Drive Parking Garage 223,764 1,800   221,964 Fee Simple     Park-It Management Riverside 36 09/30/2029 NAP NAP NAP
Loan 16.00 644 Broadway 1,779,566 10,143 75,567 1,693,856 Fee Simple     China Live 29,478 10/31/2029 Boxcar Theatre 9,050 06/30/2026
Loan 17.00 Mariano’s Palatine 1,694,779 14,265   1,680,515 Fee Simple     Mariano's Fresh Market 71,324 01/31/2032 NAP NAP NAP
Loan 18.00 Miramar Town Center 2,154,865 38,392 176,604 1,939,869 Fee Simple     24 Hour Fitness 36,025 12/31/2023 GSA 15,319 05/31/2021
Loan 19.00 North West Square 1,648,437 16,929 121,812 1,509,696 Fee Simple     Fresh Thyme Farmer's 27,500 08/31/2029 Pier 1 Imports 12,015 02/28/2024
Loan 20.00 2857 West 8th Street 1,213,341 19,875 51,659 1,141,808 Fee Simple     NYC Human Resources Administration 21,651 12/05/2028 Blink Fitness 14,733 05/01/2030
Loan 21.00 Gaviidae Common 1,395,853 4,853   1,391,000 Fee Simple     Walgreens 37,220 08/31/2035 North Memorial Health 8,086 11/30/2025
Loan 22.00 266 Broadway 1,186,996 6,318 70,402 1,110,277 Fee Simple     Bank of America 4,537 07/31/2021 Jeffrey Zwick 4,467 12/31/2022
Loan 23.00 Hawthorn Commons 1,245,791     1,245,791 Fee Simple     Northwestern Memorial Hospital 20,258 05/31/2031 Uncle Julio's 8,303 04/30/2026
Loan 24.00 The Plazas at Summerlin 1,571,211 17,604 62,493 1,491,114 Fee Simple     Akerman, LLP 15,055 10/31/2028 Kingsbarn Realty Capital 10,884 12/31/2025
Loan 25.00 Fairfield Inn Charleston Airport 1,489,531 148,521   1,341,010 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 26.00 Perimeter Place 993,995 17,964 75,938 900,093 Fee Simple     Vulcan Construction Materials 23,344 04/30/2026 Woofson 19,150 12/31/2027
Loan 27.00 Kohl's Westland 1,080,173 13,629 19,747 1,046,796 Fee Simple     Kohl's 90,860 02/28/2033 NAP NAP NAP
Loan 28.00 Four Points by Sheraton Miami Beach 3,489,195 668,250   2,820,944 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 29.00 Best Western Plus Atlantic Beach Resort 2,546,132 433,253   2,112,879 Fee Simple / Leasehold 10/31/2050 None NAP NAP NAP NAP NAP NAP
Loan 30.00 Walgreens & Fresenius Portfolio 948,537 5,006   943,531 Fee Simple                
Property 30.01 Walgreens 576,000 2,964   573,036 Fee Simple     Walgreens 14,820 04/30/2036 NAP NAP NAP
Property 30.02 Fresenius 372,537 2,042   370,495 Fee Simple     Fresenius 10,212 05/31/2032 NAP NAP NAP
Loan 31.00 LA Fitness Apple Valley 819,533 11,263   808,270 Fee Simple     LA Fitness 45,050 10/31/2032 NAP NAP NAP
Loan 32.00 Maple Ridge Plaza 840,133 24,805 70,281 745,047 Fee Simple     American Signature (Value City Furniture) 50,858 03/31/2026 Wakefern Food Corp (PriceRite) 27,185 12/31/2027
Loan 33.00 Preston Place 844,684 33,505 37,525 773,654 Fee Simple     Floor & Décor 96,184 09/30/2027 Value City Furniture 37,835 04/30/2030
Loan 34.00 Waterfront Village 1,198,756 6,420 144,370 1,047,966 Fee Simple     Travelers Insurance 70,012 03/31/2023 M/E Engineering 19,017 08/31/2020
Loan 35.00 CVS Gainesville 647,746 5,592   642,154 Fee Simple     CVS 27,958 01/31/2037 NAP NAP NAP
Loan 36.00 Safeway 685,578 9,356   676,223 Fee Simple     Safeway 46,779 03/01/2038 NAP NAP NAP
Loan 37.00 Gateway Airport Crossing 581,077 5,634 29,853 545,590 Fee Simple     Fit Body Boot Camp 5,917 08/31/2021 Comerica Bank 5,270 09/30/2022
Loan 38.00 White Lake Commons 482,838 7,072 24,861 450,905 Fee Simple     Hobby Lobby Stores, Inc. 53,798 08/31/2027 Ulta Salon, Cosmetics 10,493 11/30/2027
Loan 39.00 Xcelience-Lonza Tampa HQ Building 502,346 3,845 24,903 473,599 Fee Simple     Xcelience 71,150 10/31/2027 NAP NAP NAP
Loan 40.00 Mall Plaza Apartments 410,398 9,870   400,528 Fee Simple     NAP NAP NAP NAP NAP NAP
Loan 41.00 Arkema 530,732 7,845 39,817 483,071 Fee Simple     Arkema 39,223 05/31/2032 NAP NAP NAP

 

A-1-5

 

 

COMM 2018-COR3

 

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

                               
                            Upfront Monthly
          Lease     Lease     Lease   Occupancy Replacement Replacement
Property Flag ID Property Name 3rd Largest Tenant(20) SF Expiration(20) 4th Largest Tenant SF Expiration 5th Largest Tenant(22) SF Expiration Occupancy(4) As-of Date Reserves($)(24) Reserves ($)(25)(27)
Loan 1.00 930 Flushing NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018 45,612 2,996
Loan 2.00 Hyatt @ Olive 8 NAP NAP NAP NAP NAP NAP NAP NAP NAP 86.8% 12/31/2017   Springing
Loan 3.00 Kingswood Center New York Sports Club 20,244 07/31/2032 ElderServe Health, Inc. 14,551 11/30/2024 GuildNet - Lighthouse Guild 6,440 6/12/2026 100.0% 03/01/2018   2,170
Loan 4.00 1001 North Shoreline Boulevard(29) NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018   Springing
Loan 5.00 Beekman Tower NAP NAP NAP NAP NAP NAP NAP NAP NAP 84.8% 12/31/2017   5,933
Loan 6.00 Grand Hyatt Seattle(2) NAP NAP NAP NAP NAP NAP NAP NAP NAP 87.4% 12/31/2017   Springing
Loan 7.00 315 West 36th Street(2) Staghorn Steakhouse 2,450 04/30/2020 NAP NAP NAP NAP NAP NAP 97.0% 12/31/2017   Springing
Loan 8.00 240 East 54th Street Soul Cycle 3,800 01/31/2035 Skin Laundry 1,500 12/1/2027 Brooklyn Diamond Coffee 350 11/1/2035 100.0% 11/01/2017   499
Loan 9.00 Atlantic Times Square(2) Atlantic Seafood and Dim Sum Restaurant 12,000 03/20/2022 Teletron 6,205 01/31/2026 Tokyo Wako 5,977 06/30/2020 96.9% 03/01/2018 4,744 4,744
Loan 10.00 Shoreline Center NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018    
Loan 11.00 San Antonio Business Park Knight Office 24,301 Various Pabst Brewing Co. 21,025 3/31/2019 Stone Oak Therapy 13,289 8/31/2021 91.5% 02/01/2018   10,561
Loan 12.00 Best Western Plus Hacienda Hotel Old Town NAP NAP NAP NAP NAP NAP NAP NAP NAP 83.7% 12/31/2017   1/12th of 4.0% of gross annual operating income
Loan 13.00 Lehigh Valley Mall(2) Modell's Sporting Goods 13,882 01/31/2022 Pottery Barn 13,011 01/31/2020 New York & Company 11,306 03/31/2018 83.9% 10/12/2017   Springing
Loan 14.00 Sherman Oaks Collection Luna Grill 2,567 05/31/2027 Starbucks 2,000 3/31/2027 Wild & Free 1,995 8/31/2027 91.9% 04/01/2018   521
Loan 15.00 NYC Parking Portfolio(30)                   100.0% 10/01/2017   1,117
Property 15.01 The Corinthian Parking Garage NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 10/01/2017    
Property 15.02 Rector Place Parking Garage NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 10/01/2017    
Property 15.03 Riverside Drive Parking Garage NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 10/01/2017    
Loan 16.00 644 Broadway San Francisco Film Society 3,702 07/31/2021 Disher Music & Sound, Inc. 2,504 4/30/2025 Telling Pictures, Inc. 670 12/31/2024 100.0% 03/01/2018   1,057
Loan 17.00 Mariano’s Palatine NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018 35,000 594
Loan 18.00 Miramar Town Center Comcast 14,218 02/28/2022 Salonz Beauty 6,380 10/31/2028 Juana's Latin Rest 5,827 2/29/2024 86.0% 12/01/2017   2,393
Loan 19.00 North West Square Patel Brothers Indian Grocery 11,060 09/30/2019 Performance Bicycle 9,269 05/31/2022 Salon Lofts 7,995 02/29/2024 94.8% 04/04/2018   1,975
Loan 20.00 2857 West 8th Street Dollar Tree 9,418 01/31/2025 NYU Langone 6,500 03/31/2027 NAP NAP NAP 100.0% 01/01/2018   1,656
Loan 21.00 Gaviidae Common Orthology 2,950 09/30/2025 NAP NAP NAP NAP NAP NAP 100.0% 02/01/2018 48,256  
Loan 22.00 266 Broadway Nydia M. Velazquez 2,200 01/02/2019 Hager Management 1,883 03/31/2019 B & H Healthcare Services Inc. 1,833 02/28/2023 88.4% 03/01/2018   769
Loan 23.00 Hawthorn Commons The Barre Code 2,300 12/31/2021 Illinois Dental Specialists 2,283 07/31/2027 T-Mobile 2,221 04/30/2026 87.3% 03/09/2018   Springing
Loan 24.00 The Plazas at Summerlin Morgan Stanley 10,785 06/30/2019 Oshins & Associates 6,823 12/31/2027 Hines Master Lease 6,522 12/31/2020 95.9% 03/01/2018 88,019 Springing
Loan 25.00 Fairfield Inn Charleston Airport NAP NAP NAP NAP NAP NAP NAP NAP NAP 78.1% 01/31/2018   12,377
Loan 26.00 Perimeter Place Skyline Seven Real Estate 7,504 12/31/2022 Genesis Real Estate Advisors 6,023 3/21/2023 Atlanta Allergy & Athsma 5,040 12/31/2028 96.8% 11/30/2017   1,361
Loan 27.00 Kohl's Westland NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/01/2018   Springing
Loan 28.00 Four Points by Sheraton Miami Beach NAP NAP NAP NAP NAP NAP NAP NAP NAP 82.1% 02/01/2018   43,582
Loan 29.00 Best Western Plus Atlantic Beach Resort NAP NAP NAP NAP NAP NAP NAP NAP NAP 80.5% 02/28/2018   Springing
Loan 30.00 Walgreens & Fresenius Portfolio                   100.0% 05/06/2018 25,032 Springing
Property 30.01 Walgreens NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018    
Property 30.02 Fresenius NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018    
Loan 31.00 LA Fitness Apple Valley NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018   939
Loan 32.00 Maple Ridge Plaza Lenscrafters 6,601 06/30/2022 Toni Pepperoni 4,930 12/31/2021 T Leaf Café 2,432 5/31/2022 93.7% 04/01/2018   1,723
Loan 33.00 Preston Place NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 03/01/2018   2,792
Loan 34.00 Waterfront Village WSP 6,847 08/31/2019 Emminger, Newton, Pigeon, Magyar 5,904 03/31/2019 Pomco, Inc 4,902 07/31/2021 95.0% 03/01/2018 2,202 2,202
Loan 35.00 CVS Gainesville NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018   Springing
Loan 36.00 Safeway NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/01/2018   Springing
Loan 37.00 Gateway Airport Crossing Cogburn's 4,425 10/31/2019 Red Japanese/Sadec Bistro 2,900 09/30/2022 Elements Massage 2,482 06/30/2022 91.0% 01/22/2018   762
Loan 38.00 White Lake Commons NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 01/31/2018   804
Loan 39.00 Xcelience-Lonza Tampa HQ Building NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/06/2018 175,000 Springing
Loan 40.00 Mall Plaza Apartments NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 03/06/2018   658
Loan 41.00 Arkema NAP NAP NAP NAP NAP NAP NAP NAP NAP 100.0% 05/01/2018   654

 

A-1-6

 

 

COMM 2018-COR3

 

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

                     
      Upfront Monthly Upfront Monthly Upfront Monthly Upfront Upfront
      TI/LC TI/LC Tax Tax Insurance Insurance Engineering Other
Property Flag ID Property Name Reserves ($)(24) Reserves ($)(25)(26) Reserves ($)(24) Reserves ($)(25) Reserves ($)(24) Reserves ($)(25) Reserve($)(24) Reserves ($)(24)
Loan 1.00 930 Flushing 84,166 Springing 246,950 42,955 20,100 19,145 28,125 3,942,410
Loan 2.00 Hyatt @ Olive 8       Springing   Springing    
Loan 3.00 Kingswood Center 300,000 Springing 125,000 50,000 3,000 3,700   1,800,000
Loan 4.00 1001 North Shoreline Boulevard(29) 5,726,059 Springing   Springing   Springing    
Loan 5.00 Beekman Tower     345,200 172,600 74,400 18,600    
Loan 6.00 Grand Hyatt Seattle(2)       Springing   Springing    
Loan 7.00 315 West 36th Street(2) 852,848 Springing 220,266 73,422   Springing    
Loan 8.00 240 East 54th Street     175,464 50,133   5,113    
Loan 9.00 Atlantic Times Square(2) 11,487 11,487 483,974 161,325 140,595 15,622    
Loan 10.00 Shoreline Center 1,376,021   87,000 57,000   Springing 540,000 89,317
Loan 11.00 San Antonio Business Park 500,000 17,034   69,027 25,443 8,481 500,000 2,000,000
Loan 12.00 Best Western Plus Hacienda Hotel Old Town       16,500 78,000 6,500   3,174
Loan 13.00 Lehigh Valley Mall(2)   81,785   Springing   Springing   651,533
Loan 14.00 Sherman Oaks Collection 740,601 4,167 170,000 27,620   Springing   400,000
Loan 15.00 NYC Parking Portfolio(30)     110,149 27,232     20,875 18,974
Property 15.01 The Corinthian Parking Garage                
Property 15.02 Rector Place Parking Garage                
Property 15.03 Riverside Drive Parking Garage                
Loan 16.00 644 Broadway   4,226 49,471 26,000 24,000 6,000 5,281  
Loan 17.00 Mariano’s Palatine       Springing   Springing    
Loan 18.00 Miramar Town Center 280,000 3,988 91,688 45,844 86,763 12,369   581,993
Loan 19.00 North West Square   10,151   62,359   Springing 32,500 96,842
Loan 20.00 2857 West 8th Street     118,500 33,500 15,552 7,776 42,625  
Loan 21.00 Gaviidae Common 250,000   35,000 50,500 2,300 930   388,515
Loan 22.00 266 Broadway   5,014 5,548 1,387 10,871 988 30,000  
Loan 23.00 Hawthorn Commons 20,000 Springing 159,747 19,968   Springing 625  
Loan 24.00 The Plazas at Summerlin 500,000 9,169   9,000       2,838,797
Loan 25.00 Fairfield Inn Charleston Airport     44,780 11,195 13,534 6,767   1,641,009
Loan 26.00 Perimeter Place 300,000 6,805 42,000 13,000 12,000 1,200 90,000 79,138
Loan 27.00 Kohl's Westland       Springing   Springing    
Loan 28.00 Four Points by Sheraton Miami Beach     320,000 48,000     84,600 1,021,791
Loan 29.00 Best Western Plus Atlantic Beach Resort     95,000 30,200     9,900  
Loan 30.00 Walgreens & Fresenius Portfolio       Fresenius Property: 4,300; Walgreens Property: Springing 2,300 350   230,400
Property 30.01 Walgreens                
Property 30.02 Fresenius                
Loan 31.00 LA Fitness Apple Valley 550,000 Springing   Springing   Springing    
Loan 32.00 Maple Ridge Plaza 142,679 (i)$2,584 during Year 1,2,3 (ii)$4,306 during Year 4,5,6 (iii)$5,598 during Year 7,8,9,10 13,000 20,000   Springing 280,388 722,964
Loan 33.00 Preston Place 1,000,000   37,000 13,000   8,200 75,056  
Loan 34.00 Waterfront Village 200,000 16,512 48,363 16,121   Springing    
Loan 35.00 CVS Gainesville       Springing   Springing    
Loan 36.00 Safeway       Springing   Springing    
Loan 37.00 Gateway Airport Crossing   2,488 10,942 5,471 1,326 663    
Loan 38.00 White Lake Commons   Springing 43,240 5,405 22,750 1,750   213,919
Loan 39.00 Xcelience-Lonza Tampa HQ Building 31,500 Springing 17,000 5,850   Springing    
Loan 40.00 Mall Plaza Apartments   265 25,000 7,900 11,331 1,425 85,800  
Loan 41.00 Arkema 253,728 338   Springing 2,725 1,363 2,000  

 

A-1-7

 

 

COMM 2018-COR3

 

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

         
      Monthly Other
      Other Reserves
Property Flag ID Property Name Reserves ($)(25)(26) Description(28)
Loan 1.00 930 Flushing Supplemental Replacement Reserve (Monthly: 22,917); Special Rollover Reserve (Springing) NYCEM Reserve (Upfront: 3,250,000); Supplemental Replacement Reserve (Upfront: 300,917); Free Rent Reserve (Upfront: 391,492); Special Rollover Reserve (Springing: Monthly)
Loan 2.00 Hyatt @ Olive 8    
Loan 3.00 Kingswood Center Springing Letter of Credit. Only released upon renewal of the VNS Lease and the achievement of an UW 7.0% NCF DY; Special Rollover Reserve (Springing: Monthly)
Loan 4.00 1001 North Shoreline Boulevard(29) Springing Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)
Loan 5.00 Beekman Tower    
Loan 6.00 Grand Hyatt Seattle(2)    
Loan 7.00 315 West 36th Street(2) Springing Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)
Loan 8.00 240 East 54th Street Springing Special Rollover Reserve (Springing: Monthly)
Loan 9.00 Atlantic Times Square(2) Springing AMC Reserve Fund
Loan 10.00 Shoreline Center Springing Free Rent Reserve (Upfront: 89,317.20); Special Rollover Reserve (Springing: Monthly)
Loan 11.00 San Antonio Business Park Springing Earn-Out Reserve (Upfront: 2,000,000); Special Rollover Reserve (Springing: Monthly)
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 3,174 Ground Rent Reserve (Upfront: 3,174; Monthly: 3,174)
Loan 13.00 Lehigh Valley Mall(2) Springing Outstanding TI/LC Reserve (Upfront: 443,000); Tenant Rent Holdback Reserve (Upfront: 208,533); Release Parcel Reserve (Monthly: Springing)
Loan 14.00 Sherman Oaks Collection Springing Earnout Holdback Reserve (Upfront: 400,000); Special Rollover Reserve (Springing: Monthly)
Loan 15.00 NYC Parking Portfolio(30)   Common Charges Reserve (Upfront: 18,973.83)
Property 15.01 The Corinthian Parking Garage    
Property 15.02 Rector Place Parking Garage    
Property 15.03 Riverside Drive Parking Garage    
Loan 16.00 644 Broadway Springing Special Rollover Reserve (Springing: Monthly)
Loan 17.00 Mariano’s Palatine Springing Special Rollover Reserve (Springing: Monthly)
Loan 18.00 Miramar Town Center   Rent Abatement Reserve (Upfront: 54,151.68); Lease Escrow Reserve (Upfront: 527,841.43)
Loan 19.00 North West Square Springing Unfunded Obligations Reserve (Upfront: $68,238); Free Rent Reserve (Upfront: $28,604) (Springing Monthly: Excess Cash Flow)
Loan 20.00 2857 West 8th Street Springing Excess Cash Flow Funds
Loan 21.00 Gaviidae Common Springing Orthology Leasing Funds (Upfront: 244,350); KB Storage Space Reserve (Upfront: 114,165); Special Rollover Reserve (Springing: Monthly)
Loan 22.00 266 Broadway Springing Excess Cash Flow Funds
Loan 23.00 Hawthorn Commons Springing Lease Sweep Reserve (Springing Monthly: Excess Cash Flow)
Loan 24.00 The Plazas at Summerlin Springing Outstanding TI/LC (Upfront: 915,000); Free Rent Reserve (Upfront: 238,147.71); Near-Term Rollover Reserve (Upfront: 100,000); Kingbarn Upfront Rent Reserve (Upfront: 1,585,649.66); Special Rollover Reserve (Springing: Monthly)
Loan 25.00 Fairfield Inn Charleston Airport Springing PIP Reserve (Springing Monthly: Excess Cash Flow)
Loan 26.00 Perimeter Place Springing Benson Dental Reserve (Upfront: 36,350); Free Rent Reserve (Upfront: 42,788); Special Rollover Reserve (Springing: Monthly)
Loan 27.00 Kohl's Westland Springing Excess Cash Flow Funds
Loan 28.00 Four Points by Sheraton Miami Beach 21,791 Earnout Holdback Reserve (Upfront: 1,000,000); Ongoing Additional Hotel Upgrade Reserves (Monthly: 21,791)
Loan 29.00 Best Western Plus Atlantic Beach Resort    
Loan 30.00 Walgreens & Fresenius Portfolio   Management Fee Reserve (Upfront: 230,400)
Property 30.01 Walgreens    
Property 30.02 Fresenius    
Loan 31.00 LA Fitness Apple Valley Springing Special Rollover Reserve (Springing: Monthly)
Loan 32.00 Maple Ridge Plaza Springing Price Rite Rent Commencement Reserve (560,501.46); Free Rent Reserve (162,462.47); Special Rollover Reserve: (Springing: Monthly)
Loan 33.00 Preston Place Springing Special Rollover Reserve (Springing: Monthly)
Loan 34.00 Waterfront Village    
Loan 35.00 CVS Gainesville Springing Special Rollover Reserve (Springing: Monthly)
Loan 36.00 Safeway    
Loan 37.00 Gateway Airport Crossing Springing Excess Cash Flow Funds
Loan 38.00 White Lake Commons Springing Unfunded Obligations Reserve (Springing Monthly: Excess Cash Flow)
Loan 39.00 Xcelience-Lonza Tampa HQ Building    
Loan 40.00 Mall Plaza Apartments    
Loan 41.00 Arkema Springing Excess Cash Flow Funds

 

A-1-8

 

 

COMM 2018-COR3

 

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

                 
      Environmental   Franchise      
      Report Engineering Agreement Loan    
Property Flag ID Property Name Date Report Date Expiration Date Purpose Sponsor(23) Guarantor
Loan 1.00 930 Flushing 03/30/2018 04/02/2018 NAP Refinance Joseph Tabak; Robert Wolf Joseph Tabak; Robert Wolf
Loan 2.00 Hyatt @ Olive 8 03/19/2017 03/16/2017 01/31/2044 Refinance Hedreen Holdings LLC Hedreen Holdings LLC
Loan 3.00 Kingswood Center 10/06/2017 10/06/2017 NAP Refinance Elchonon Schwartz; Simon Singer; Steven J. Kassin; Isaac S. Franco Elchonon Schwartz; Simon Singer; Steven J. Kassin; Isaac S. Franco
Loan 4.00 1001 North Shoreline Boulevard(29) 12/15/2017 01/12/2018 NAP Acquisition Lighthouse Real Estate Holdings LLC NAP
Loan 5.00 Beekman Tower 06/16/2017 06/15/2017 NAP Refinance Yakov Yakubov; Yakubov US Trust 2013; Thomas Yakubaros Yakov Yakubov; Yakubov US Trust 2013; Thomas Yakubaros
Loan 6.00 Grand Hyatt Seattle(2) 03/15/2017 03/15/2017 01/31/2044 Refinance Hedreen Holdings LLC Hedreen Holdings LLC
Loan 7.00 315 West 36th Street(2) 01/11/2018 01/10/2018 NAP Refinance David Berley David Berley
Loan 8.00 240 East 54th Street 09/27/2017 08/30/2017 NAP Refinance Jack Terzi Jack Terzi
Loan 9.00 Atlantic Times Square(2) 02/07/2018 02/07/2018 NAP Refinance Ronnie Lam Ronnie Lam
Loan 10.00 Shoreline Center 12/22/2017 12/22/2017 NAP Acquisition Joseph J. Sitt Joseph J. Sitt
Loan 11.00 San Antonio Business Park 09/28/2017 09/22/2017 NAP Acquisition John R. Saunders John R. Saunders
Loan 12.00 Best Western Plus Hacienda Hotel Old Town 10/02/2017 09/26/2017 11/30/2018 Refinance William H. McWethy, Jr. William H. McWethy, Jr.
Loan 13.00 Lehigh Valley Mall(2) 09/13/2017 09/12/2017 NAP Refinance Simon Property Group, L.P.; Pennsylvania Real Estate Investment Trust Simon Property Group, L.P.
Loan 14.00 Sherman Oaks Collection 05/05/2017 05/05/2017 NAP Refinance Mark A. Schurgin Mark A. Schurgin
Loan 15.00 NYC Parking Portfolio(30)       Recapitalization Aaron Katz Aaron Katz
Property 15.01 The Corinthian Parking Garage 09/11/2017 08/29/2017 NAP      
Property 15.02 Rector Place Parking Garage 08/31/2017 08/29/2017 NAP      
Property 15.03 Riverside Drive Parking Garage 08/29/2017 08/29/2017 NAP      
Loan 16.00 644 Broadway 03/07/2018 03/07/2018 NAP Refinance Jeffery M. Lee; Christopher D. Wight Jeffery M. Lee; Christopher D. Wight
Loan 17.00 Mariano’s Palatine 10/12/2017 10/11/2017 NAP Acquisition Mandel, Franklin Franklin Mandel
Loan 18.00 Miramar Town Center 08/24/2017 10/05/2017 NAP Acquisition Yoram Izhak Yoram Izhak
Loan 19.00 North West Square 04/05/2018 04/06/2018 NAP Refinance Sankar Mangapuram; Srikanth Gaddam; Kiran Beeravelli; Kesava Murukuti Sankar Mangapuram; Srikanth Gaddam; Kiran Beeravelli; Kesava Murukuti
Loan 20.00 2857 West 8th Street 01/05/2018 01/08/2018 NAP Acquisition Dimitri Volkov Dmitrii Volkov
Loan 21.00 Gaviidae Common 01/30/2018 01/30/2018 NAP Acquisition Jeff Pori Jeff Pori
Loan 22.00 266 Broadway 02/23/2018 02/23/2018 NAP Refinance Meir Stern Meir Stern
Loan 23.00 Hawthorn Commons 02/15/2018 02/15/2018 NAP Refinance Michael Slaven; McLinden Holdings, L.L.C. Michael Slaven; McLinden Holdings, L.L.C.
Loan 24.00 The Plazas at Summerlin 10/27/2017 10/27/2017 NAP Acquisition Jeff Pori; Amjad Akel; Roula Amoura; Rodolfo P. Estolano; Carmen C. Estolano Jeff Pori; Amjad Akel; Roula Amoura; Rodolfo P. Estolano; Carmen C. Estolano
Loan 25.00 Fairfield Inn Charleston Airport 02/09/2018 02/09/2018 11/06/2032 Acquisition Richard C. Pietrafesa, Jr.; Peter Murphy; Cambridge Capital Family Partnership, LP; Sailaja Malireddy; Sharvani Mididaddi Richard C. Pietrafesa, Jr.; Peter Murphy; Cambridge Capital Family Partnership, LP; Sailaja Malireddy; Sharvani Mididaddi
Loan 26.00 Perimeter Place 12/05/2017 12/06/2017 NAP Refinance Craig J. Bernstein Craig J. Bernstein
Loan 27.00 Kohl's Westland 01/29/2018 01/29/2018 NAP Acquisition Marc Jacobowitz; Yerachmeal Jacobson Marc Jacobowitz; Yerachmeal Jacobson
Loan 28.00 Four Points by Sheraton Miami Beach 02/28/2018 02/28/2018 03/01/2031 Refinance Charles Neiss Charles Neiss
Loan 29.00 Best Western Plus Atlantic Beach Resort 11/10/2017 11/10/2017 11/30/2018 Refinance Charles Neiss Charles Neiss
Loan 30.00 Walgreens & Fresenius Portfolio       Acquisition Louis J. Rogers; Jeff Pori Louis J. Rogers; Jeff Pori
Property 30.01 Walgreens 08/15/2017 07/24/2017 NAP      
Property 30.02 Fresenius 08/15/2017 07/24/2017 NAP      
Loan 31.00 LA Fitness Apple Valley 07/31/2017 07/28/2017 NAP Refinance John Leondis John Leondis
Loan 32.00 Maple Ridge Plaza 06/30/2017 06/30/2017 NAP Refinance Sara S. Gelles; Chana M. Greenstein; Charles Neiss Family Trust; The Neiss Family Limited Partnership Sara S. Gelles; Chana M. Greenstein; Charles Neiss Family Trust; The Neiss Family Limited Partnership
Loan 33.00 Preston Place 12/11/2017 12/11/2017 NAP Acquisition D. Talmage Hocker; Stephen Jones D. Talmage Hocker; Stephen Jones
Loan 34.00 Waterfront Village 02/20/2018 02/19/2018 NAP Refinance Fadi Dagher Fadi Dagher
Loan 35.00 CVS Gainesville 10/27/2017 09/21/2017 NAP Acquisition William L. Huntley William L. Huntley
Loan 36.00 Safeway 03/19/2018 03/16/2018 NAP Acquisition Jeffrey W. Johnson; Jeri Lynn Johnson Jeffrey W. Johnson; Jeri Lynn Johnson
Loan 37.00 Gateway Airport Crossing 02/01/2018 01/31/2018 NAP Acquisition Rajan Rakeheja and Natasha Walia Rajan Rakeheja and Natasha Walia
Loan 38.00 White Lake Commons 02/22/2018 03/15/2018 NAP Refinance Ira Mondry Ira Mondry
Loan 39.00 Xcelience-Lonza Tampa HQ Building 10/04/2017 11/28/2017 NAP Acquisition Louis J. Rogers Louis J. Rogers
Loan 40.00 Mall Plaza Apartments 02/26/2018 02/26/2018 NAP Refinance Matthew Vernon Matthew Vernon
Loan 41.00 Arkema 02/05/2018 02/05/2018 NAP Acquisition Dmitrii Volkov Dmitrii Volkov

 

A-1-9

 

 

COMM 2018-COR3

 

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

                   
              Existing   Future Debt
              Additional Sub Debt   Permitted
Property Flag ID Property Name Previous Securitization Non-Trust Pari Passu Original Balance Non-Trust Pari Passu Cut-off Date Balance Non-Trust Pari Passu Balloon Balance Amount Existing Additional Sub Debt Description Type
Loan 1.00 930 Flushing NAP         None NAP
Loan 2.00 Hyatt @ Olive 8 NAP         None NAP
Loan 3.00 Kingswood Center NAP         None NAP
Loan 4.00 1001 North Shoreline Boulevard(29) NAP       46,050,000 B-Note NAP
Loan 5.00 Beekman Tower NAP         None NAP
Loan 6.00 Grand Hyatt Seattle(2) NAP 83,000,000 83,000,000 83,000,000   None NAP
Loan 7.00 315 West 36th Street(2) NAP 30,000,000 30,000,000 30,000,000   None NAP
Loan 8.00 240 East 54th Street NAP         None NAP
Loan 9.00 Atlantic Times Square(2) JPMCC 2013-C13 58,000,000 58,000,000 58,000,000   None NAP
Loan 10.00 Shoreline Center NAP         None NAP
Loan 11.00 San Antonio Business Park NAP         None NAP
Loan 12.00 Best Western Plus Hacienda Hotel Old Town NAP         None NAP
Loan 13.00 Lehigh Valley Mall(2) NAP 170,000,000 168,552,005 135,297,433   None NAP
Loan 14.00 Sherman Oaks Collection NAP         None NAP
Loan 15.00 NYC Parking Portfolio(30) NAP       1,825,000 Mezzanine Debt NAP
Property 15.01 The Corinthian Parking Garage NAP            
Property 15.02 Rector Place Parking Garage NAP            
Property 15.03 Riverside Drive Parking Garage NAP            
Loan 16.00 644 Broadway NAP         None NAP
Loan 17.00 Mariano’s Palatine COMM 2013-CR7         None NAP
Loan 18.00 Miramar Town Center NAP         None NAP
Loan 19.00 North West Square NAP         None NAP
Loan 20.00 2857 West 8th Street NAP         None NAP
Loan 21.00 Gaviidae Common NAP         None NAP
Loan 22.00 266 Broadway GSMS 2013-GC12         None NAP
Loan 23.00 Hawthorn Commons NAP         None NAP
Loan 24.00 The Plazas at Summerlin NAP         None NAP
Loan 25.00 Fairfield Inn Charleston Airport MSBAM 2013-C11         None NAP
Loan 26.00 Perimeter Place NAP         None NAP
Loan 27.00 Kohl's Westland NAP         None NAP
Loan 28.00 Four Points by Sheraton Miami Beach NAP         None NAP
Loan 29.00 Best Western Plus Atlantic Beach Resort BACM 2008/1         None NAP
Loan 30.00 Walgreens & Fresenius Portfolio NAP         None NAP
Property 30.01 Walgreens NAP            
Property 30.02 Fresenius NAP            
Loan 31.00 LA Fitness Apple Valley NAP         None NAP
Loan 32.00 Maple Ridge Plaza MLCFC 2006/2         None NAP
Loan 33.00 Preston Place NAP         None NAP
Loan 34.00 Waterfront Village NAP         None NAP
Loan 35.00 CVS Gainesville NAP         None NAP
Loan 36.00 Safeway NAP         None NAP
Loan 37.00 Gateway Airport Crossing NAP         None NAP
Loan 38.00 White Lake Commons BANC 2017-CRE2         None NAP
Loan 39.00 Xcelience-Lonza Tampa HQ Building NAP         None NAP
Loan 40.00 Mall Plaza Apartments NAP         None NAP
Loan 41.00 Arkema NAP         None NAP

 

A-1-10

 

 

COMM 2018-COR3
FOOTNOTES TO ANNEX A-1
   
(1) LCM—LoanCore Capital Markets LLC or one of its affiliates; GACC—German American Capital Corporation or one of its affiliates; CREFI— Citi Real Estate Funding Inc. or one of its affiliates; JPMCB—JPMorgan Chase Bank, National Association or one of its affiliates.
   
(2) With respect to the pari passu loans referenced below, the Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Spaces) ($) are calculated based on the Mortgage Loan included in the issuing entity and the related pari passu companion loans in the aggregate and exclude any subordinate or mezzanine debt. For additional information see the table entitled “Whole Loan Control Notes and Non-Control Notes” in “Description of the Mortgage Pool – The Whole Loans — General” in this preliminary prospectus.
  ●         Loan No. 6 – Grand Hyatt Seattle
  ●         Loan No. 7 – 315 West 36th Street  
  ●         Loan No. 9 – Atlantic Times Square
  ●         Loan No. 13 – Lehigh Valley Mall
   
(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)       Office Retail Multifamily Parking
  Loan No. Mortgage Loan NRA
(sq. ft.)
NRA Occ. % of UW Rent NRA (sq. ft.) Occ. % of UW Rent Units Occ. % of UW Rent Spaces Occ. % of UW Rent
  3 Kingswood Center 130,218 83,330 100.0% 54.9% 46,888 100.0% 36.0% NAP NAP NAP 257 NAV 9.2%
  9 Atlantic Times Square NAP NAP NAP NAP 212,838 97.6% 64.9% 100 95.9% 35.1% NAP NAP NAP
  16 644 Broadway 50,718 8,608 100.0% 14.5% 38,528 100.0% 83.3% 9 100.0% 22% NAP NAP NAP
  18 Miramar Town Center 153,569 41,405 100.0% 29.1% 85,276 86.0% 62.1% 17 70.6% 8.8% NAP NAP NAP
  20 2857 West 8th Street 52,302 21,651 21,651 41.4% 30,651 30,651 58.6% NAP NAP NAP NAP NAP NAP
  21 Gaviidae Commons 48,258 11,056 100.0% 24.0% 37,220 100.0% 76.0% NAP NAP NAP NAP NAP NAP
  23 Hawthom Commons 47,381 26,585 100.0% 59.4% 20,796 71.0% 40.6% NAP NAP NAP NAP NAP NAP
  30 Walgreens & Fresenius Portfolio 25,032 10,212 100.0% 39.3% 14,820 100.0% 60.7% NAP NAP NAP NAP NAP NAP

 

 

Loan No. 9 – Atlantic Times Square – The Mortgaged Property includes a total of 379,376 square feet of rentable area, which consists of 212,838 sq. ft. of retail space and 166,538 sq. ft. of multifamily space (100 units). The square footage includes only the retail space and excludes the multifamily space.

 

Loan No. 41 – Arkema – The Mortgaged Property includes a total of 39,223 square feet of rentable area, which consists of 20,394 sq. ft. of industrial laboratory and research and development space and 18,829 sq. ft. of office space.

 

(5)

Loan No. 7 –315 West 36th Street—The Mortgaged Property is located in a historic district, and is subject to a conservation easement that requires that the appearance of the building not be materially altered or changed.

 

Loan No. 34 – Waterfront Village – The Mortgaged Property is subject to a Declaration of General Covenants and Restrictions which restricts the Mortgaged Property from being used for residential purposes with the exception of use for a hotel or motel. In addition, the declaration restricts (i) new construction on the Mortgaged Property, (ii) changes to the existing structure in any way that changes the exterior appearance and (iii) changes in the permitted use of the Mortgaged Property, in each case unless approved by a majority vote of the Architectural Committee under the declaration. The Architectural Committee consists of three or more members designated by the City of Buffalo Urban Renewal Agency (the “Declarant”). The declaration also states that any time after December 31, 2025, the then-record owners (other than the Declarant) of 75% of the parcels may terminate the declaration.

   
(6) 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. See the table entitled “Non-Serviced Whole Loans” in “Summary of Terms — Offered Certificates — Servicing and Administration Fees” in this preliminary prospectus.

 

A-1-11

 

 

(7) 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.
   
(8) “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.
   
  Loan No. 9 – Atlantic Times Square – the Mortgage Loan is characterized as having a Springing Hard lockbox since the borrower is required to deliver tenant direction letters to all commercial tenants at the Mortgaged Property instructing such tenants to pay rents directly into the lockbox account upon the occurrence of any of the related trigger events. Upon the occurrence and during the continuance of a lockbox trigger period, the borrower will also be required to collect rents from the multifamily tenants and deposit such rents into the lockbox account one business day following receipt of funds.
   
(9) “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).
   
(10)

With respect to the loans referenced below structured with A/B Notes, the Underwritten NOI DSCR, Underwritten NCF DSCR, Cut-off Date LTV Ratio, LTV Ratio at Maturity or ARD, Underwritten NOI Debt Yield, Underwritten NCF Debt Yield and Loan per Net Rentable Area (SF/Units/Rooms/Spaces) ($) calculations exclude the subordinate secured debt.

● Loan No. 4 – 1001 North Shoreline Boulevard

   
(11)

Loan No. 7 – 315 West 36th Street – The Underwritten NOI is over 10% higher than Most Recent NOI. The increase in Underwritten NOI over historical periods is primarily driven by the signing of the WeWork leases on 92.8% of the vacant net rentable area in 2015 and 2017.

 

Loan No. 8 – 240 East 54th Street– The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by the 3,800 sq. ft. lease executed by Clean Market, LLC. Rental payments commenced on October 1, 2017.

 

Loan No. 16 – 644 Broadway – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by contractual rent steps taken through May 2019.

 

Loan No. 18 – Miramar Town Center – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by contractual rent steps taken through December 2018.

 

 

Loan No. 23 – Hawthorn Commons – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by (i) the underwritten rent steps through August 2018 for non credit tenants, which accounts for $11,260 of the increase, (ii) straight line average credit tenant rent steps for Northwestern Memorial Hospital, which accounts for $43,940 of the increase and (iii) the two new leases that began in April 2017, which account for $130,254 of the total base rent.

 

Loan No. 24 – The Plazas at Summerlin – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by leases signed in December 2017 representing 23,595 sq. ft. (26.8% of NRA) and contractual rent steps taken through May 2019.

 

Loan No. 26 – Perimeter Place – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by contractual rent steps taken through March 2019 and the straight line rent of Vulcan Construction Materials.

 

Loan No. 32 – Maple Ridge Plaza – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by the Wakefern Food Corp (PriceRite) lease representing 27,185 sq. ft. (26.3% of NRA) that commenced on January 1, 2018.

 

A-1-12

 

 

 

Loan No. 33 – Preston Place – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by the fact that the Most Recent NOI only represents 11 months of operation. In addition, the increase is also driven by Value City Furniture’s contractual rent bump in May 2018.

 

Loan No. 40 – Mall Plaza Apartments – The Underwritten NOI is over 10% higher than Most Recent NOI ($). The increase in Underwritten NOI over historical period is primarily driven by the significant capital improvements that were implemented at the Mortgaged Property after the borrower sponsor’s acquisition. The borrower sponsor began the conversion of the office suites into multifamily units in the fourth quarter of 2016 and completed construction and leasing in the fourth quarter of 2017. The Mortgaged Property is now 100% occupied and currently has a waiting list.

   
(12) 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.
   
(13) In certain cases, in addition to an “as-is” value, the appraisal states an “as complete” or “as-stabilized” value for the related Mortgaged Property that assumes that certain events will occur with respect to retenanting, construction, renovation or repairs at such Mortgaged Property. The Appraised Value set forth on Annex A-1 is the “as-is” value unless otherwise specified in the preliminary prospectus. With respect to the Mortgaged Properties that secure the Mortgage Loans listed in the following table, the respective Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD was calculated using the related “as complete” or “as-stabilized” Appraised Value, as opposed to the “as-is” Appraised Values, each as set forth in the following table:

 

  Loan No.   Mortgage Loan Name   % of Initial Pool Balance   Appraised Value (Other Than As-ls)   Cut-off Date LTV Ratio (Other Than As-ls)   Maturity or ARD LTV Ratio (Other Than As-ls)   Appraised Value (“As-ls”)   Cut-off Date LTV Ratio (“As-ls”)   Maturity or ARD LTV Ratio (“As-ls”)
  4   1001 North Shoreline Boulevard(1)   6.4%   $171,000,000   37.7%   37.7%   $165,000,000   39.1%   39.1%
  10   Shoreline Center(2)   3.8%   $60,000,000   63.8%   63.8%   $58,000,000   66.0%   66.0%
  25   Fairfield Inn Charleston Airport(3)   1.2%   $13,800,000   66 4%   55.2%   $16,700,000   74.8%   62.2%
  32   Maple Ridge Plaza(4)   0.8%   $12,150,000   70.0%   60.1%   $11,600,000   73.9%   63.5%

 

 

(1) The 1001 North Shore Boulevard Appraised Value reflects the “as-stabilized” appraised value, which assumes that all improvements have been physically constructed. At origination, the borrower was required to reserve $5,726,059 for outstanding tenant improvement and leasing commissions. Based on the “as stabilized” appraised value, the Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD for the 1001 North Shoreline Boulevard Whole Loan is 64.6%. Based on the “as-is” appraised value, the Cut-off Date LTV Ratio and LTV Ratio at Maturity or ARD for the 1001 North Shoreline Boulevard Whole Loan is 67.0%.

(2) The Shoreline Center Appraised Value reflects an appraisal on a “prospective stabilized” basis, which assumes the tenant improvement construction for Auris Surgical Robotics, Inc. which has since been completed.

(3) The Fairfield Inn Charleston Airport Appraised Value represents the “as-complete” value of $18,800,000 for the Mortgaged Property, effective February 1, 2019, which assumes the completion of the planned property improvement plan (“PIP”) at the Mortgaged Property, among other extraordinary assumptions. At loan origination, the borrower reserved $1,641,009, the estimated aggregate cost of the PIP at the time of valuation.

(4) The Maple Ridge Plaza Appraised Value reflects an appraisal on a “prospective stabilized” basis, which assumes that the Wakefern Food Corp (PriceRite) lease has been executed and the tenant is in occupancy on or before February 1, 2018. The lease has been executed, the tenant took occupancy and commenced paying rent and opened for business on April 15, 2018.

   
  See “Description of the Mortgage Pool—Appraised Value” in this preliminary prospectus.
   
(14)

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.

 

“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—Partial 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.

   
(15)

Loan No. 6 – Grand Hyatt Seattle – The lockout period will be at least 36 payment dates beginning with and including the first payment date of June 6, 2017. Defeasance of the full Grand Hyatt Seattle 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) November 6, 2020. The assumed lockout period of 36 payments is based on the expected COMM 2018-COR3 securitization closing date in May 2018. The actual lockout period may be longer.

 

Loan No. 9 – Atlantic Times Square – The lockout period will be at least 25 payment dates beginning with and including the first payment date of May 1, 2018. Defeasance of the $98.0 million Atlantic Times Square Whole Loan is permitted prior to the open period and after the date that is two years after the closing date of the securitization that includes the last note to be securitized

 

A-1-13

 

 

  (the “Permitted Defeasance Date”). The borrower is also permitted to prepay the Atlantic Times Square Whole Loan with the payment of a yield maintenance premium if the Permitted Defeasance Date has not occurred prior to May 1, 2021 (such earlier date, the “Permitted Release Date”). The assumed lockout period of 25 payments is based on the expected COMM 2018-COR3 securitization closing date in May 2018. The actual lockout period may be longer.
   
  Loan No. 13 – Lehigh Valley Mall – The lockout period will be at least 30 payment dates beginning with and including the first payment date of December 1, 2017. The actual lockout period may be longer. Defeasance of the full $200.0 million Lehigh Valley Mall Whole Loan is permitted after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized (the “REMIC Prohibition Period”) and (ii) December 1, 2020 (such earlier date, the “Permitted Release Date”). The borrower is also permitted to prepay the Lehigh Valley Mall Whole Loan with the payment of a yield maintenance premium after the occurrence of the Permitted Release Date if the REMIC Prohibition Period has not occurred prior to December 1, 2020.
   
(16)

Partial release upon partial prepayment or partial defeasance is permitted for the following loans. See “Description of the Mortgage Pool – Certain Terms of the Mortgage Loans – Partial Releases” in this preliminary prospectus for the terms of the releases.

● Loan No. 1 – 930 Flushing

● Loan No. 4 – 1001 North Shoreline Boulevard

● Loan No. 13 – Lehigh Valley Mall

● Loan No. 15 – NYC Parking Portfolio

 

(17)

Loan No. 13 – Lehigh Valley Mall – The Mortgage Loan is secured by both the borrower’s leasehold interest under a ground lease and a borrower affiliate’s fee simple interest.

 

Certain of the Mortgaged Properties have property ownership structures in the form of condominium and other shared interests. See “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests”.

   
(18)

The following Mortgaged Property consists, in whole or in part, of the borrower’s interest in one or more ground leases, space leases, air rights leases or other similar leasehold interests:

 

Loan No. 12 – Best Western Plus Hacienda Hotel Old Town – The Mortgage Loan is secured by the borrower’s leasehold interest in approximately 17% of the total land square footage of the Best Western Plus Hacienda Old Town Mortgaged Property and the remaining Mortgaged Property in fee.

 

Loan No. 15 – NYC Parking Portfolio – The Rector Place Parking Garage is subject to a sub-ground lease from Battery Park City Authority (“BPCA”) to the condominium association and the condominium unit owners (including the related borrower) have an undivided leasehold interest in the underlying land. BPCA is the ground lessor and the ground lessee under the underlying ground lease.

 

Loan No. 29 – Best Western Plus Atlantic Beach Resort – The Mortgage Loan is secured by the borrower’s fee and leasehold interests in the Mortgaged Property.

   
(19)

Loan No. 9 – Atlantic Times Square – An affiliate of the borrower is the largest tenant at the Mortgaged Property. The leased space is operated as a movie theater under a separate management agreement with an affiliate of AMC Theaters (the “AMC Management Agreement”).

 

Loan No. 24 – The Plazas at Summerlin – An affiliate of the borrower is the second largest tenant at the Mortgaged Property.

   
(20)

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 the 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 such 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 Mortgaged 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.

 

Loan No. 1 – 930 Flushing – The Sole Tenant, New York City Department of Emergency Management (“NYCEM”), leasing 100% of NRA, has a one-time right to terminate its lease on July 17, 2028 with 36 months’ minimum notice, which termination date may be extended in connection with certain renovations to the Mortgaged Property, as specified in the NYCEM lease.

 

  Loan No. 11 – San Antonio Business Park – The 2nd Largest Tenant, Xenex Healthcare Services, LLC (“Xenex”), leasing approximately 7.2% of NRA pursuant to two leases, has the right to terminate either lease, commencing on June 1, 2019, upon 90 days written notice if Xenex requires more square footage than the borrower can accommodate. Each Xenex lease expiration date is May 31, 2021.

 

A-1-14

 

 

 

Loan No. 16 – 644 Broadway – The 3rd Largest Tenant, San Francisco Film Society, leasing approximately 7.3% of NRA, has the right to terminate its lease in the event the Kennith Rainin Foundation, a long term benefactor of the tenant, ceases to provide further funding, provided that Tenant gives written notice at least 2 years in advance of cancellation of the lease and notifies the borrower that it has not found an alternate source of funding as of the date that is six months following the date the tenant provided notice to the borrower. The San Francisco Film Society lease expiration is July 31, 2021.

 

Loan No. 18 – Miramar Town Center – The 2nd Largest Tenant, GSA, leasing approximately 10.0% of NRA, has the right to terminate its lease at any time on or after the fifth year upon 60 days written notice.

 

 

Loan No. 21 – Gaviidae Common– The Largest Tenant, Walgreens, leasing approximately 77.1% of NRA, has the right to terminate its lease effective August 31, 2035. The Walgreens lease expiration date is August 31, 2065.

 

Loan No. 20 – 2857 West 8th Street – The Largest Tenant, NYC Human Resources Administration, leasing approximately 41.4% of the NRA, has the right to terminate its lease any time after August 8, 2022, upon 180 days prior notice.

 

Loan No. 22 – 266 Broadway – The 3rd Largest Tenant, Congresswoman Nydia M. Velazquez, leasing approximately 7.3% of the NRA, and the landlord, each have the right to terminate the lease by giving 60 days’ prior written notice to the other party.

 

Loan No. 30 – Walgreens & Fresenius Portfolio – The Largest Tenant, Walgreens, leasing 100.0% of NRA at the Walgreens Mortgaged Property, has the right to terminate its lease effective March 31, 2036. The Walgreens lease expiration date is March 31, 2086.

 

Loan No. 41 – Arkema – The Sole Tenant, Arkema, has the right to terminate its lease effective May 31, 2026 with notice given on or before September 1, 2025 and payment of a termination fee equal to $743,827.

 

(21)

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

 

Loan No. 34 – Waterfront Village – The borrower has agreed that the Largest Tenant, Travelers Insurance, has the right to sublease a portion of its space to Xerox or another third party vendor in order to provide mail room service.

 

Loan No. 35 – CVS Gainesville – The Sole Tenant, CVS, is subleasing a portion of its space to University of Florida for use as a physical therapy clinic.

   
(22)

Tenants under certain leases included in the Underwritten Net Cash Flow, Underwritten NOI and/or Occupancy may not be in physical occupancy, may not have begun paying rent or may be in negotiation. With respect to the largest 20 Mortgage Loans and certain tenants representing more than 25% of the net rentable area of a Mortgaged Property, see “Description of the Mortgage Pool—Tenant Issues—Other” in this preliminary prospectus.

 

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. 4 – 1001 North Shoreline Boulevard – The Sole Tenant, Google LLC, is not yet in occupancy, and is expected to take occupancy in June 2018. The tenant has taken possession of its space and is currently building its tenant improvements. Rent under the Google LLC lease commenced March 30, 2018.

 

 

Loan No. 8 – 240 East 54th Street – The 2nd Largest Tenant, Clean Market, LLC, executed a lease for 3,800 sq. ft. but is not yet in occupancy. Clean Market’s rent commenced on October 1, 2017 and the tenant is anticipated to take occupancy of its space on or around May 1, 2018.

 

Loan No. 13 – Lehigh Valley Mall – Babies R Us, the Largest Tenant at the Mortgaged Property, which leases approximately 7.0% of the NRA, is subject to the bankruptcy of its parent company, is conducting a liquidation sale, and is expected to vacate its space and reject its lease. The tenant has been excluded from underwritten occupancy and rent. In addition, underwritten occupancy is 83.9%, due to the exclusion of such tenant, and other tenants that are expected to vacate, from underwritten occupancy.

 

Loan No. 24 - The Plazas at Summerlin – The 5th Largest Tenant, Summerlin Properties, LLC (“Summerlin”), an affiliate of the prior owner of the Mortgaged Property, (i) entered into two leases (the “Leases”) with the borrower (which Leases together represent approximately 7.4% of the NRA at the Mortgaged Property) and (ii) deposited 100% of the rent due under the Leases for their full term (three years) in escrow with First American Title Insurance Company (the “Title Company”). Summerlin is not in (and does not intend to take) physical occupancy of the leased premises but is responsible for all obligations under the Leases until such time as borrower leases the related space to a new tenant or tenants under one or more replacement leases. Pursuant to a holdback agreement by and among the prior owner of the Mortgaged Property, Summerlin, the borrower and the Title Company, pursuant to which the lender is a third party beneficiary, the Title Company is required, on a monthly basis, to transfer the rent due under the Leases into the lender controlled clearing account related to the Mortgage Loan, provided that each month the amount required to be transferred to the lender will be reduced by any amount of rent received by the borrower during such month from a replacement tenant. The borrower has not yet delivered to lender a subordination, non-disturbance and attornment agreement related to the Leases.

 

A-1-15

 

 

(23)

Loan No. 1 – 930 Flushing – The borrowers own the Mortgaged Property as tenants-in-common.

 

Loan No. 3 – Kingswood Center – The borrowers own the Mortgaged Property as tenants-in-common.

 

Loan No. 24 – The Plazas at Summerlin – The borrowers own the Mortgaged Property as tenants-in-common.

   
(24)

All upfront reserve balances reflect the upfront reserve amount at loan origination. The current balance may be less than the amount shown.

 

(25) 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.
   
(26)

Loan No. 9 – Atlantic Times Square – If AMC has failed to renew the AMC Management Agreement (during the initial term or any subsequent renewal term thereof) on or before the date that is one year prior to the then-current expiration of the AMC Management Agreement and no cure has occurred, then all excess cash flow is required to be deposited in the AMC Reserve Fund for tenant improvement and leasing commission obligations incurred by the borrower with respect to the space, subject to a cap of $2,000,000.

 

Loan No. 38 – White Lake Commons - The borrower is required to deposit $5,358 in the TI/LC Reserve account beginning on the April 2023 payment date.

   
(27) Loan No. 25 – Fairfield Inn Charleston Airport – The borrower is required to deposit an amount equal to the greater of (i) the amount of the deposit required by Franchisor on account of FF&E under the Franchise agreement or (ii) an amount equal to 1/12th of 4% of the gross income for the Property during the preceding calendar year, which amount shall be (a) $12,377 per month and (b) adjusted annually by the lender based on the foregoing on the Monthly Payment Date occurring in January of each calendar year commencing with January 2019.
   
(28)

Loan No. 11 – San Antonio Business Park – At loan origination, $2,000,000 was funded into an earnout reserve, which amount will be released to the borrower, in no more than three payments, as such time that, after giving effect to the release of funds to the borrower (and the reduction in outstanding principal balance), the NCF Debt Yield is at least 8.5%.

 

Loan No. 14 – Sherman Oaks Collection – At loan origination, $400,000 was funded into a reserve and will be released to the borrower upon Maestro's, the 13th largest tenant, taking possession of its space and the Mortgaged Property achieving an NCF Debt Yield of 7.0%.

 

Loan No. 28 – Four Points by Sheraton Miami Beach – At loan origination, the borrower did not provide lender with a comfort letter from the franchisor. The borrower funded $1,000,000 into a reserve, which amount will be released to the borrower if, by July 15, 2018 (90 days from the date of origination), the borrower provides lender with an acceptable comfort letter and, at that time, there is no ongoing Cash Management Period.

   
(29) With respect to the Mortgage Loans identified below, the lender is insured under an environmental insurance policy obtained (i) in lieu of obtaining a Phase II Environmental Site Assessment, (ii) in lieu of providing an indemnity or guaranty from a sponsor or (iii) to address environmental conditions or concerns. For additional information, see “Risk Factors—Risks Related to the Mortgage Loans—Adverse Environmental Conditions at or Near Mortgaged Properties May Result in Losses” and “Description of the Mortgage Pool – Mortgage Pool Characteristics – Environmental Considerations” in this preliminary prospectus.

 

  Loan No.   Mortgage Loan   Mortgage Loan Cut-off Date Balance   % of Initial Outstanding Pool Balance   Maximum Policy Amount   Premium Paid in Full   Expiration Date
  4   1001 North Shoreline Boulevard   $64,450,000   6.4%   $1,000,000   Yes   3/15/2032

 

(30) 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
                                           
  15   NYC Parking Portfolio   $21,675,000   2.2%   $1,825,000   7.5000%   10/8/2027   Yes   68.9%   1.44x   6.9%

 

A-1-16