FWP 1 n2450-x7_anxa1.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226123-11
     

  

Free Writing Prospectus dated February [28], 2021

 

The depositor has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-226123) for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (800) 408-1016 or by emailing the ABS Syndicate Desk at abs_synd@jpmorgan.com.

 

The information in this file (the “File”) is an electronic copy of the information set forth in the Annex titled "Certain Characteristics of the Mortgage Loans and Mortgaged Properties" to the prospectus. This File does not contain all information that is required to be included in the prospectus. This File should be reviewed only in conjunction with the entire prospectus. Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision.

 

The information in this File may be amended and/or supplemented prior to the time of sale. The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.

 

Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.

 

Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which this material may have been attached are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another email system.

 

 

 

  

 

 

ANNEX A-1

 

                       
                Number of Property   Property  
Loan # Seller(1) Property Name Street Address City State Zip Code County Properties Type(2) Subtype Year Built
1 JPMCB 410 Tenth Avenue 410 Tenth Avenue New York NY 10001 New York 1 Office CBD 1927
2 CREFI/GACC MGM Grand & Mandalay Bay Various Las Vegas NV Various Clark 2 Hotel Full Service Various
2.01 CREFI/GACC MGM Grand 3799 South Las Vegas Boulevard Las Vegas NV 89109 Clark 1 Hotel Full Service 1993
2.02 CREFI/GACC Mandalay Bay 3950 South Las Vegas Boulevard Las Vegas NV 89119 Clark 1 Hotel Full Service 1999
3 GSMC Phillips Point 777 South Flagler Drive West Palm Beach FL 33401 Palm Beach 1 Office CBD 1985, 1988
4 CREFI 141 Livingston 141 Livingston Street Brooklyn NY 11201 Kings 1 Office CBD 1959
5 JPMCB Pittock Block 921 Southwest Washington Street Portland OR 97205 Multnomah 1 Mixed Use Office/Retail/Data Center 1913
6 CREFI/JPMCB The Galleria Office Towers Various Houston TX 77056 Harris 3 Office CBD Various
6.01 CREFI/JPMCB Galleria Tower I 2700 Post Oak Boulevard Houston TX 77056 Harris 1 Office CBD 1974
6.02 CREFI/JPMCB Galleria Tower II 5051 Westheimer Road Houston TX 77056 Harris 1 Office CBD 1970
6.03 CREFI/JPMCB Galleria Financial Center 5065-5075 Westheimer Road Houston TX 77056 Harris 1 Office CBD 1977
7 GSMC U.S. Industrial Portfolio VI Various Various Various Various Various 10 Industrial Various Various
7.01 GSMC True Value 308 South Division Street Harvard IL 60033 McHenry 1 Industrial Warehouse/Distribution 1942
7.02 GSMC Belnick 4350 Ball Ground Highway Canton GA 30114 Cherokee 1 Industrial Warehouse/Distribution 1999
7.03 GSMC Tufco - 3161 South Ridge Road 3161 South Ridge Road Ashwaubenon WI 54304 Brown 1 Industrial Manufacturing 1978
7.04 GSMC Pro Con - 109 Maplewood Drive 109 Maplewood Drive Hazle Township PA 18202 Luzerne 1 Industrial Manufacturing 1987, 1997, 2001
7.05 GSMC Total Logistics 2900 Granada Lane North Oakdale MN 55128 Washington 1 Industrial Warehouse 1994
7.06 GSMC Pro Con - 2441 East Glendale Avenue 2441 East Glendale Avenue Appleton WI 54911 Outagamie 1 Industrial Manufacturing 1978
7.07 GSMC Amaray 1300 West Park Road Elizabethtown KY 42701 Hardin 1 Industrial Manufacturing 1975
7.08 GSMC Pro Con - 2430 East Glendale Avenue 2430 East Glendale Avenue Appleton WI 54911 Outagamie 1 Industrial Manufacturing 1968, 1974, 1995, 1997
7.09 GSMC Tufco - 1205 Burris Road 1205 Burris Road Newton NC 28658 Catawba 1 Industrial Warehouse 1971
7.10 GSMC Tufco - 1055 Parkview Road 1055 Parkview Road Ashwaubenon WI 54304 Brown 1 Industrial Manufacturing 1983
8 CREFI Boca Office Portfolio Various Boca Raton FL 33433 Palm Beach 4 Mixed Use Office/Retail Various
8.01 CREFI Boardwalk @ 18th 6909 Southwest 18th Street Boca Raton FL 33433 Palm Beach 1 Mixed Use Office/Retail 1986
8.02 CREFI Fountains Center 7000-7700 West Camino Real Boca Raton FL 33433 Palm Beach 1 Mixed Use Office/Retail 1983
8.03 CREFI City National Park 7000 Palmetto Park Road and 22125 Powerline Road Boca Raton FL 33433 Palm Beach 1 Mixed Use Office/Retail 1986, 1991, 1998
8.04 CREFI Grove Centre 21301 Powerline Road Boca Raton FL 33433 Palm Beach 1 Mixed Use Office/Retail 1983
9 CREFI Gestamp Automocion SLB 3063 Hickory Valley Road Chattanooga TN 37421 Hamilton 1 Industrial Manufacturing 2014
10 JPMCB 30 Hudson Yards 67 500 West 33rd Street New York NY 10001 New York 1 Office CBD 2019
11 GSMC Dawson Marketplace GA-400 & Dawson Forest Road East Dawsonville GA 30534 Dawson 1 Retail Anchored 2017-2020
12 GACC 8670 Wilshire 8670 Wilshire Boulevard Beverly Hills CA 90211 Los Angeles 1 Office Medical 1986
13 GSMC JW Marriott Nashville 201 8th Avenue South Nashville TN 37203 Davidson 1 Hotel Full Service 2018
14 CREFI Morgan Stanley Tower 150 2nd Avenue North Saint Petersburg FL 33701 Pinellas 1 Office CBD 1985
15 JPMCB The Village at Meridian 1600-2300 North Eagle Road Meridian ID 83642 Ada 1 Retail Anchored 2012
16 GSMC Millennium Corporate Park 18200-18700 Northeast Union Hill Road Redmond WA 98052 King 1 Office Suburban 1999-2000, 2014
17 GSMC 711 Fifth Avenue 711 5th Avenue New York NY 10022 New York 1 Mixed Use Office/Retail 1927
18 JPMCB Oakland Commons I&II 20700 & 20750 Civic Center Drive Southfield MI 48076 Oakland 1 Office Suburban 1999
19 GACC Orlando Technology Park 100, 200, 250, 255 & 525 Technology Parkway Lake Mary FL 32746 Seminole 1 Office Flex 1986, 1998, 1999
20 GACC Woodbury Crossing Phase II 530 Greenwood Drive Southwest Olympia WA 98502 Thurston 1 Multifamily Garden 2019-2020
21 CREFI Advanced Energy 2424 Midpoint Drive and 1625 Sharp Point Drive Fort Collins CO 80525 Larimer 1 Industrial R&D/Flex 1987, 2000
22 CREFI Value Store It Miami 5900 Northwest 102nd Avenue Doral FL 33178 Miami-Dade 1 Self Storage Self Storage 2010
23 GSMC Willoughby Commons 36363 Euclid Avenue Willoughby OH 44094 Lake 1 Retail Power Center 1997-2000
24 JPMCB Camellia Trace 100 Trace Drive Jackson TN 38305 Madison 1 Multifamily Garden 2002
25 GACC Dollar General Portfolio Various Various Various Various Various 15 Retail Freestanding Various
25.01 GACC Robinsonville 13060 Highway 61 North Robinsonville MS 38664 Tunica 1 Retail Freestanding 2020
25.02 GACC Saint Mary’s 5056 South Pleasants Highway Belmont WV 26170 Pleasants 1 Retail Freestanding 2020
25.03 GACC Alexandria (Carlos) 4480 County Road 13 Northeast Carlos MN 56319 Douglas 1 Retail Freestanding 2020
25.04 GACC St. Martinville 4009 Catahoula Highway Saint Martinville LA 70582 Saint Martin 1 Retail Freestanding 2020
25.05 GACC Fife Lake 6950 U.S. 131 Fife Lake MI 49633 Grand Traverse 1 Retail Freestanding 2020
25.06 GACC Waubun 3185 U.S. 59 Waubun MN 56589 Mahnomen 1 Retail Freestanding 2020
25.07 GACC Lake Village 612 U.S. 65 Lake Village AR 71653 Chicot 1 Retail Freestanding 2020
25.08 GACC New Era 4121 South Oceana Drive New Era MI 49446 Oceana 1 Retail Freestanding 2020
25.09 GACC Mooers 2593 U.S. 11 Mooers NY 12958 Clinton 1 Retail Freestanding 2020
25.10 GACC Hinckley 304 Fire Monument Road Hinckley MN 55037 Pine 1 Retail Freestanding 2020
25.11 GACC Center 308 Lignite Avenue Center ND 58530 Oliver 1 Retail Freestanding 2020
25.12 GACC Lepanto 330 West Broad Street Lepanto AR 72354 Poinsett 1 Retail Freestanding 2020
25.13 GACC Edgemont 11116 U.S. 18 Edgemont SD 57735 Fall River 1 Retail Freestanding 2019
25.14 GACC Louisa 31 Spankem Branch Road Louisa KY 41230 Lawrence 1 Retail Freestanding 2019
25.15 GACC Prue 11152 New Prue Road Prue OK 74054 Osage 1 Retail Freestanding 2020
26 CREFI 9633 Westheimer Road 9633 Westheimer Road Houston TX 77063 Harris 1 Mixed Use Self Storage/Retail 1973
27 CREFI 46-50 East 167th Street 46-50 East 167th Street Bronx NY 10452 Bronx 1 Retail Anchored 1931
28 CREFI Bridgeport Distribution Center 5425 Dixie Highway Bridgeport MI 48601 Saginaw 1 Industrial Warehouse/Distribution 1974
29 CREFI 303 3rd Street 303 3rd Street Huntington Beach CA 92648 Orange 1 Mixed Use Office/Retail 1996
30 CREFI 5501 New Utrecht Avenue 5501 New Utrecht Avenue Brooklyn NY 11219 Kings 1 Office CBD 2020
31 CREFI Hamden Self Storage 1315 Dixwell Avenue Hamden CT 06514 New Haven 1 Mixed Use Self Storage/Retail 2002
 A-1-1 

 

ANNEX A-1

 

                       
                Number of Property   Property  
Loan # Seller(1) Property Name Street Address City State Zip Code County Properties Type(2) Subtype Year Built
32 JPMCB Bristol Park 1141 Glen Iris Drive Fayetteville NC 28314 Cumberland 1 Multifamily Garden 2009
33 GACC 6450 Industrial 6450 Technology Drive Salem VA 24153 Roanoke 1 Industrial Warehouse/Distribution 1997
34 CREFI 651 Bushwick Avenue 651 Bushwick Avenue Brooklyn NY 11221 Kings 1 Mixed Use Multifamily/Office/Retail 2019
35 GSMC Grocery Outlet Truckee 11213 Donner Pass Road Truckee CA 96161 Nevada 1 Mixed Use Retail/Multifamily 2020
36 JPMCB Holiday Inn Philadelphia South 1 Pureland Drive Swedesboro NJ 08085 Gloucester 1 Hotel Full Service 1987
37 CREFI CVS Valley Stream 44 North Central Avenue Valley Stream NY 11580 Nassau 1 Retail Single Tenant 1990
38 CREFI Deschutes Business Center 20370 Empire Avenue Bend OR 97703 Deschutes 1 Industrial Flex 1981
39 CREFI The Cove Storage Portfolio Various Various AL Various Madison 3 Self Storage Self Storage Various
39.01 CREFI James Road 485 James Road Owens Cross Roads AL 35763 Madison 1 Self Storage Self Storage 2006
39.02 CREFI Green Cove Road 1610 Green Cove Road Southeast Huntsville AL 35803 Madison 1 Self Storage Self Storage 1997
39.03 CREFI Taylor Lane 111 Taylor Lane Owens Cross Roads AL 35763 Madison 1 Self Storage Self Storage 2006
40 CREFI Scotsman Self Storage 1956 Quality Boulevard Huntsville TX 77320 Walker 1 Self Storage Self Storage 2001, 2003
                       
 A-1-2 

 

ANNEX A-1

 

                        Original  
      Year    Unit of      Occupancy Appraised Appraisal Current Original Balance Current  
Loan # Seller(1) Property Name Renovated Units(3)  Measure Occupancy %(4) Date Value ($)(5) Date LTV %(5) Balance ($)(6)(7) per Unit ($) Balance ($)(6)(7)
1 JPMCB 410 Tenth Avenue 2020 631,944 Square Feet 99.2% 12/16/20 955,000,000 12/01/20 39.8% 80,000,000 601 80,000,000
2 CREFI/GACC MGM Grand & Mandalay Bay   9,748 Rooms 71.4% 09/30/20 4,600,000,000 01/10/20 35.5% 79,985,667 167,645 79,985,667
2.01 CREFI/GACC MGM Grand   4,998 Rooms 68.5% 09/30/20 2,505,000,000 01/10/20   43,592,189   43,592,189
2.02 CREFI/GACC Mandalay Bay   4,750 Rooms 74.8% 09/30/20 2,095,000,000 01/10/20   36,393,478   36,393,478
3 GSMC Phillips Point 2018-2020 448,885 Square Feet 90.5% 12/01/20 289,000,000 12/15/20 68.7% 75,000,000 442 75,000,000
4 CREFI 141 Livingston 2015 213,745 Square Feet 100.0% 02/01/21 182,300,000 02/01/21 54.9% 75,000,000 468 75,000,000
5 JPMCB Pittock Block 2001 297,698 Square Feet 71.4% 12/21/20 329,000,000 12/07/20 42.9% 66,000,000 474 66,000,000
6 CREFI/JPMCB The Galleria Office Towers Various 1,067,672 Square Feet 68.1% 01/20/21 185,000,000 01/06/21 48.6% 65,000,000 84 65,000,000
6.01 CREFI/JPMCB Galleria Tower I 2002, 2020 493,695 Square Feet 78.1% 01/20/21 85,544,600 01/06/21   30,056,211   30,056,211
6.02 CREFI/JPMCB Galleria Tower II 1992, 2005, 2020 320,687 Square Feet 68.1% 01/20/21 55,566,781 01/06/21   19,523,464   19,523,464
6.03 CREFI/JPMCB Galleria Financial Center 2020 253,290 Square Feet 48.7% 01/20/21 43,888,619 01/06/21   15,420,326   15,420,326
7 GSMC U.S. Industrial Portfolio VI Various 2,981,955 Square Feet 95.9% 02/01/21 136,500,000 Various 59.3% 60,000,000 27 60,000,000
7.01 GSMC True Value 1982 1,331,727 Square Feet 100.0% 02/01/21 36,100,000 01/06/21   16,044,444   16,044,444
7.02 GSMC Belnick 2011 477,152 Square Feet 100.0% 02/01/21 28,900,000 01/05/21   12,844,444   12,844,444
7.03 GSMC Tufco - 3161 South Ridge Road   226,900 Square Feet 100.0% 02/01/21 14,900,000 12/28/20   6,622,222   6,622,222
7.04 GSMC Pro Con - 109 Maplewood Drive   205,320 Square Feet 100.0% 02/01/21 12,920,000 12/29/20   5,742,222   5,742,222
7.05 GSMC Total Logistics 2008 86,460 Square Feet 100.0% 02/01/21 10,800,000 12/21/20   4,747,407   4,747,407
7.06 GSMC Pro Con - 2441 East Glendale Avenue 2002 172,261 Square Feet 100.0% 02/01/21 9,440,000 12/28/20   4,149,630   4,149,630
7.07 GSMC Amaray   194,519 Square Feet 100.0% 02/01/21 9,200,000 12/30/20   4,043,704   4,043,704
7.08 GSMC Pro Con - 2430 East Glendale Avenue   122,500 Square Feet 100.0% 02/01/21 6,720,000 12/28/20   2,954,074   2,954,074
7.09 GSMC Tufco - 1205 Burris Road   121,096 Square Feet 0.0% 02/01/21 4,650,000 12/23/20   1,576,296   1,576,296
7.10 GSMC Tufco - 1055 Parkview Road   44,020 Square Feet 100.0% 02/01/21 2,870,000 12/28/20   1,275,556   1,275,556
8 CREFI Boca Office Portfolio Various 514,527 Square Feet 90.4% 01/23/21 155,900,000 11/13/20 63.5% 50,000,000 192 50,000,000
8.01 CREFI Boardwalk @ 18th 2017 132,132 Square Feet 91.8% 01/23/21 49,500,000 10/22/20   15,151,515   15,151,515
8.02 CREFI Fountains Center   188,666 Square Feet 84.5% 01/23/21 44,500,000 11/13/20   14,393,939   14,393,939
8.03 CREFI City National Park   132,207 Square Feet 97.4% 01/23/21 39,200,000 11/13/20   14,393,939   14,393,939
8.04 CREFI Grove Centre 2017 61,522 Square Feet 90.8% 01/23/21 17,500,000 10/22/20   6,060,606   6,060,606
9 CREFI Gestamp Automocion SLB   637,750 Square Feet 100.0% 03/06/21 78,900,000 02/01/21 62.7% 49,500,000 78 49,500,000
10 JPMCB 30 Hudson Yards 67   44,954 Square Feet 100.0% 03/07/21 110,000,000 02/01/21 64.5% 45,000,000 1,579 45,000,000
11 GSMC Dawson Marketplace   352,418 Square Feet 97.3% 12/31/20 68,000,000 11/17/19 55.4% 43,800,000 124 43,800,000
12 GACC 8670 Wilshire 2002 50,520 Square Feet 100.0% 02/21/21 70,400,000 01/04/21 60.4% 42,500,000 841 42,500,000
13 GSMC JW Marriott Nashville   533 Rooms 44.1% 09/30/20 301,000,000 11/10/20 61.5% 35,000,000 347,092 35,000,000
14 CREFI Morgan Stanley Tower 2015 187,694 Square Feet 94.7% 12/15/20 54,100,000 12/16/20 62.8% 34,000,000 181 34,000,000
15 JPMCB The Village at Meridian   841,927 Square Feet 79.3% 10/01/20 197,000,000 10/06/20 33.5% 30,995,000 78 30,995,000
16 GSMC Millennium Corporate Park   537,046 Square Feet 100.0% 10/01/20 216,700,000 11/18/20 60.9% 27,000,000 246 27,000,000
17 GSMC 711 Fifth Avenue 2013-2019 340,024 Square Feet 76.5% 01/31/20 1,000,000,000 01/23/20 54.5% 26,500,000 1,603 26,500,000
18 JPMCB Oakland Commons I&II   315,839 Square Feet 77.7% 01/18/21 34,900,000 02/01/21 69.6% 24,300,000 77 24,300,000
19 GACC Orlando Technology Park 2015-2020 297,386 Square Feet 86.9% 11/30/20 35,000,000 01/19/21 69.0% 24,150,000 81 24,150,000
20 GACC Woodbury Crossing Phase II   90 Units 95.6% 01/31/21 32,800,000 12/18/20 62.1% 20,380,000 226,444 20,380,000
21 CREFI Advanced Energy 1994, 2015 115,627 Square Feet 100.0% 03/06/21 30,650,000 12/10/20 60.0% 18,390,000 159 18,390,000
22 CREFI Value Store It Miami 2017 119,850 Square Feet 93.1% 01/11/21 27,200,000 01/08/21 62.5% 17,000,000 142 17,000,000
23 GSMC Willoughby Commons   351,581 Square Feet 98.9% 09/30/20 51,700,000 11/22/19 71.5% 16,950,000 105 16,950,000
24 JPMCB Camellia Trace   212 Units 99.1% 02/02/21 24,700,000 01/06/21 63.4% 15,655,000 73,844 15,655,000
25 GACC Dollar General Portfolio   139,012 Square Feet 100.0% 03/06/21 21,320,000 01/19/21 65.0% 13,850,000 100 13,850,000
25.01 GACC Robinsonville   9,100 Square Feet 100.0% 03/06/21 1,720,000 01/12/21   1,126,069   1,126,069
25.02 GACC Saint Mary’s   9,100 Square Feet 100.0% 03/06/21 1,540,000 01/13/21   1,008,225   1,008,225
25.03 GACC Alexandria (Carlos)   9,002 Square Feet 100.0% 03/06/21 1,520,000 01/03/21   995,131   995,131
25.04 GACC St. Martinville   9,100 Square Feet 100.0% 03/06/21 1,440,000 01/13/21   942,756   942,756
25.05 GACC Fife Lake   9,100 Square Feet 100.0% 03/06/21 1,430,000 01/13/21   936,209   936,209
25.06 GACC Waubun   9,100 Square Feet 100.0% 03/06/21 1,420,000 01/12/21   929,662   929,662
25.07 GACC Lake Village   10,566 Square Feet 100.0% 03/06/21 1,410,000 01/13/21   923,115   923,115
25.08 GACC New Era   9,026 Square Feet 100.0% 03/06/21 1,400,000 01/13/21   916,568   916,568
25.09 GACC Mooers   9,026 Square Feet 100.0% 03/06/21 1,380,000 01/12/21   903,474   903,474
25.10 GACC Hinckley   9,100 Square Feet 100.0% 03/06/21 1,370,000 01/12/21   896,927   896,927
25.11 GACC Center   9,026 Square Feet 100.0% 03/06/21 1,370,000 01/12/21   896,927   896,927
25.12 GACC Lepanto   10,640 Square Feet 100.0% 03/06/21 1,350,000 01/11/21   883,834   883,834
25.13 GACC Edgemont   9,000 Square Feet 100.0% 03/06/21 1,320,000 01/13/21   867,466   867,466
25.14 GACC Louisa   9,100 Square Feet 100.0% 03/06/21 1,290,000 01/12/21   844,552   844,552
25.15 GACC Prue   9,026 Square Feet 100.0% 03/06/21 1,190,000 01/03/21   779,083   779,083
26 CREFI 9633 Westheimer Road 2021 82,000 Square Feet 100.0% 02/01/21 21,890,000 01/21/21 62.5% 13,681,250 167 13,681,250
27 CREFI 46-50 East 167th Street   26,500 Square Feet 100.0% 11/01/20 20,900,000 12/21/20 65.0% 13,585,000 513 13,585,000
28 CREFI Bridgeport Distribution Center 1994 610,808 Square Feet 100.0% 09/30/20 16,800,000 01/25/21 69.6% 11,700,000 19 11,700,000
29 CREFI 303 3rd Street 2018-2019 15,095 Square Feet 100.0% 02/01/21 18,050,000 12/31/20 52.6% 9,500,000 629 9,500,000
30 CREFI 5501 New Utrecht Avenue   21,152 Square Feet 100.0% 11/01/20 16,600,000 11/04/20 57.2% 9,500,000 449 9,500,000
31 CREFI Hamden Self Storage   113,115 Square Feet 95.3% 02/04/21 15,300,000 12/07/20 57.2% 9,500,000 84 9,500,000
 A-1-3 

 

ANNEX A-1

 

                        Original  
      Year    Unit of      Occupancy Appraised Appraisal Current Original Balance Current  
Loan # Seller(1) Property Name Renovated Units(3)  Measure Occupancy %(4) Date Value ($)(5) Date LTV %(5) Balance ($)(6)(7) per Unit ($) Balance ($)(6)(7)
32 JPMCB Bristol Park   112 Units 94.6% 02/02/21 13,000,000 12/29/20 65.5% 8,515,000 76,027 8,515,000
33 GACC 6450 Industrial 2018 283,000 Square Feet 100.0% 03/06/21 12,850,000 12/21/20 59.5% 7,650,000 27 7,650,000
34 CREFI 651 Bushwick Avenue   20 Rooms 100.0% 02/01/21 12,400,000 01/04/21 56.5% 7,000,000 350,000 7,000,000
35 GSMC Grocery Outlet Truckee   18,021 Square Feet 100.0% 02/18/21 13,200,000 01/23/21 50.0% 6,600,000 366 6,600,000
36 JPMCB Holiday Inn Philadelphia South 2019 161 Rooms 44.8% 01/31/21 10,000,000 09/01/18 62.9% 6,500,000 40,373 6,287,797
37 CREFI CVS Valley Stream   11,352 Square Feet 100.0% 03/06/21 10,200,000 12/29/20 60.6% 6,180,000 544 6,180,000
38 CREFI Deschutes Business Center   53,874 Square Feet 88.7% 01/25/21 9,500,000 12/08/20 57.9% 5,500,000 102 5,500,000
39 CREFI The Cove Storage Portfolio   110,850 Square Feet 98.2% 11/30/20 7,800,000 12/09/20 65.3% 5,090,000 46 5,090,000
39.01 CREFI James Road   50,450 Square Feet 97.5% 11/30/20 2,900,000 12/09/20   2,165,000   2,165,000
39.02 CREFI Green Cove Road   37,000 Square Feet 98.6% 11/30/20 3,000,000 12/09/20   1,920,000   1,920,000
39.03 CREFI Taylor Lane   23,400 Square Feet 99.1% 11/30/20 1,900,000 12/09/20   1,005,000   1,005,000
40 CREFI Scotsman Self Storage   44,500 Square Feet 90.6% 11/30/20 4,400,000 12/03/20 70.1% 3,085,200 69 3,085,200
                           
 A-1-4 

 

ANNEX A-1

 

      Current           Net          
      Balance % of Initial Crossed Related   Interest   Admin. Mortgage   Monthly Debt Annual Debt   First  
Loan # Seller(1) Property Name per Unit ($) Pool Balance Loan Borrower(8) Rate %(9) Fee %(9) Rate %(9) Accrual Type Service ($)(10)(11) Service ($)(11) Note Date Payment Date
1 JPMCB 410 Tenth Avenue 601 6.9% No No 2.59159 0.01230 2.57929 Actual/360 175,172.29 2,102,067.48 12/18/20 02/01/21
2 CREFI/GACC MGM Grand & Mandalay Bay 167,645 6.9% No No 3.55800 0.01043 3.54758 Actual/360 240,451.36 2,885,416.32 02/14/20 04/05/20
2.01 CREFI/GACC MGM Grand   3.8%                    
2.02 CREFI/GACC Mandalay Bay   3.1%                    
3 GSMC Phillips Point 442 6.5% No No 3.34003 0.01105 3.32898 Actual/360 211,650.89 2,539,810.68 01/15/21 03/06/21
4 CREFI 141 Livingston 468 6.5% No No 3.21000 0.01105 3.19895 Actual/360 203,411.46 2,440,937.52 02/18/21 04/06/21
5 JPMCB Pittock Block 474 5.7% No No 3.29940 0.02105 3.27835 Actual/360 183,987.60 2,207,851.20 12/30/20 02/01/21
6 CREFI/JPMCB The Galleria Office Towers 84 5.6% No No 4.46000 0.01105 4.44895 Actual/360 327,802.40 3,933,628.75 02/17/21 04/06/21
6.01 CREFI/JPMCB Galleria Tower I   2.6%                    
6.02 CREFI/JPMCB Galleria Tower II   1.7%                    
6.03 CREFI/JPMCB Galleria Financial Center   1.3%                    
7 GSMC U.S. Industrial Portfolio VI 27 5.2% No No 3.71600 0.01105 3.70495 Actual/360 188,380.56 2,260,566.72 02/08/21 04/06/21
7.01 GSMC True Value   1.4%                    
7.02 GSMC Belnick   1.1%                    
7.03 GSMC Tufco - 3161 South Ridge Road   0.6%                    
7.04 GSMC Pro Con - 109 Maplewood Drive   0.5%                    
7.05 GSMC Total Logistics   0.4%                    
7.06 GSMC Pro Con - 2441 East Glendale Avenue   0.4%                    
7.07 GSMC Amaray   0.3%                    
7.08 GSMC Pro Con - 2430 East Glendale Avenue   0.3%                    
7.09 GSMC Tufco - 1205 Burris Road   0.1%                    
7.10 GSMC Tufco - 1055 Parkview Road   0.1%                    
8 CREFI Boca Office Portfolio 192 4.3% No No 4.02000 0.01105 4.00895 Actual/360 169,826.39 2,037,916.68 02/17/21 04/06/21
8.01 CREFI Boardwalk @ 18th   1.3%                    
8.02 CREFI Fountains Center   1.2%                    
8.03 CREFI City National Park   1.2%                    
8.04 CREFI Grove Centre   0.5%                    
9 CREFI Gestamp Automocion SLB 78 4.3% No No 3.61000 0.01105 3.59895 Actual/360 225,327.69 2,703,932.28 02/19/21 04/06/21
10 JPMCB 30 Hudson Yards 67 1,579 3.9% No No 3.37100 0.01105 3.35995 Actual/360 128,168.23 1,538,018.76 02/19/21 04/07/21
11 GSMC Dawson Marketplace 124 3.8% No No 3.55000 0.01105 3.53895 Actual/360 131,374.65 1,576,495.80 02/03/20 03/06/20
12 GACC 8670 Wilshire 841 3.7% No No 3.78400 0.01105 3.77295 Actual/360 135,878.01 1,630,536.12 02/19/21 04/06/21
13 GSMC JW Marriott Nashville 347,092 3.0% No No 3.13900 0.01105 3.12795 Actual/360 92,825.75 1,113,909.00 03/06/20 04/06/20
14 CREFI Morgan Stanley Tower 181 2.9% No No 3.50000 0.01105 3.48895 Actual/360 152,675.19 1,832,102.28 02/12/21 04/06/21
15 JPMCB The Village at Meridian 78 2.7% No No 3.49900 0.02105 3.47795 Actual/360 91,631.48 1,099,577.76 01/14/21 03/05/21
16 GSMC Millennium Corporate Park 246 2.3% No No 3.03200 0.01105 3.02095 Actual/360 69,167.50 830,010.00 12/17/20 02/06/21
17 GSMC 711 Fifth Avenue 1,603 2.3% No No 3.16000 0.01230 3.14770 Actual/360 70,752.55 849,030.60 03/06/20 04/06/20
18 JPMCB Oakland Commons I&II 77 2.1% No No 4.21500 0.05980 4.15520 Actual/360 119,044.01 1,428,528.12 02/19/21 04/01/21
19 GACC Orlando Technology Park 81 2.1% No No 3.50100 0.01105 3.48995 Actual/360 108,457.77 1,301,493.24 02/24/21 04/06/21
20 GACC Woodbury Crossing Phase II 226,444 1.8% No No 4.26737 0.01105 4.25632 Actual/360 73,480.75 881,769.00 02/11/21 04/06/21
21 CREFI Advanced Energy 159 1.6% No No 3.87000 0.01105 3.85895 Actual/360 86,424.01 1,037,088.12 02/12/21 04/06/21
22 CREFI Value Store It Miami 142 1.5% No No 3.61000 0.04105 3.56895 Actual/360 51,851.97 622,223.64 02/11/21 04/06/21
23 GSMC Willoughby Commons 105 1.5% No No 4.03800 0.02105 4.01695 Actual/360 81,293.66 975,523.92 12/20/19 02/06/20
24 JPMCB Camellia Trace 73,844 1.4% No Yes - Group 1 3.45700 0.04105 3.41595 Actual/360 45,725.83 548,709.96 02/12/21 04/01/21
25 GACC Dollar General Portfolio 100 1.2% No No 3.15100 0.01105 3.13995 Actual/360 36,872.90 442,474.80 02/02/21 03/06/21
25.01 GACC Robinsonville   0.1%                    
25.02 GACC Saint Mary’s   0.1%                    
25.03 GACC Alexandria (Carlos)   0.1%                    
25.04 GACC St. Martinville   0.1%                    
25.05 GACC Fife Lake   0.1%                    
25.06 GACC Waubun   0.1%                    
25.07 GACC Lake Village   0.1%                    
25.08 GACC New Era   0.1%                    
25.09 GACC Mooers   0.1%                    
25.10 GACC Hinckley   0.1%                    
25.11 GACC Center   0.1%                    
25.12 GACC Lepanto   0.1%                    
25.13 GACC Edgemont   0.1%                    
25.14 GACC Louisa   0.1%                    
25.15 GACC Prue   0.1%                    
26 CREFI 9633 Westheimer Road 167 1.2% No No 3.89000 0.01105 3.87895 Actual/360 44,966.03 539,592.36 02/17/21 04/06/21
27 CREFI 46-50 East 167th Street 513 1.2% No No 3.84000 0.01105 3.82895 Actual/360 44,075.78 528,909.36 02/08/21 04/06/21
28 CREFI Bridgeport Distribution Center 19 1.0% No No 3.82000 0.01105 3.80895 Actual/360 54,650.30 655,803.60 02/17/21 04/06/21
29 CREFI 303 3rd Street 629 0.8% No No 3.67000 0.01105 3.65895 Actual/360 29,457.70 353,492.40 02/11/21 04/06/21
30 CREFI 5501 New Utrecht Avenue 449 0.8% No No 3.78000 0.01105 3.76895 Actual/360 30,340.63 364,087.56 12/18/20 02/06/21
31 CREFI Hamden Self Storage 84 0.8% No No 3.87000 0.01105 3.85895 Actual/360 44,645.36 535,744.32 02/12/21 04/06/21
 A-1-5 

 

ANNEX A-1

 

      Current           Net          
      Balance % of Initial Crossed Related   Interest   Admin. Mortgage   Monthly Debt Annual Debt   First  
Loan # Seller(1) Property Name per Unit ($) Pool Balance Loan Borrower(8) Rate %(9) Fee %(9) Rate %(9) Accrual Type Service ($)(10)(11) Service ($)(11) Note Date Payment Date
32 JPMCB Bristol Park 76,027 0.7% No Yes - Group 1 3.50700 0.05105 3.45595 Actual/360 25,230.71 302,768.52 02/16/21 04/01/21
33 GACC 6450 Industrial 27 0.7% No No 4.09400 0.01105 4.08295 Actual/360 36,938.05 443,256.60 02/19/21 04/06/21
34 CREFI 651 Bushwick Avenue 350,000 0.6% No No 3.92000 0.01105 3.90895 Actual/360 23,184.26 278,211.12 02/12/21 04/06/21
35 GSMC Grocery Outlet Truckee 366 0.6% No No 3.84100 0.01105 3.82995 Actual/360 21,418.91 257,026.92 02/19/21 04/06/21
36 JPMCB Holiday Inn Philadelphia South 39,055 0.5% No No 5.21200 0.01105 5.20095 Actual/360 35,740.41 428,884.92 10/15/18 12/01/18
37 CREFI CVS Valley Stream 544 0.5% No No 4.00000 0.01105 3.98895 Actual/360 20,886.11 250,633.32 02/16/21 04/06/21
38 CREFI Deschutes Business Center 102 0.5% No No 3.78000 0.01105 3.76895 Actual/360 17,565.63 210,787.56 02/17/21 04/06/21
39 CREFI The Cove Storage Portfolio 46 0.4% No Yes - Group 2 3.83000 0.01105 3.81895 Actual/360 23,804.24 285,650.88 02/12/21 04/06/21
39.01 CREFI James Road   0.2%                    
39.02 CREFI Green Cove Road   0.2%                    
39.03 CREFI Taylor Lane   0.1%                    
40 CREFI Scotsman Self Storage 69 0.3% No Yes - Group 2 3.68000 0.01105 3.66895 Actual/360 14,165.77 169,989.24 01/29/21 03/06/21
                             
 A-1-6 

 

ANNEX A-1

 

ANNEX A-1

 

                     
      Partial IO Partial IO Loan Rem. Rem.     Payment Grace Period
Loan # Seller(1) Property Name Last IO Payment First P&I Payment Term  Amort I/O Period Seasoning Due Date  (Late Payment)(12)
1 JPMCB 410 Tenth Avenue     82 0 84 2 1 0
2 CREFI/GACC MGM Grand & Mandalay Bay     108 0 120 12 5 0
2.01 CREFI/GACC MGM Grand                
2.02 CREFI/GACC Mandalay Bay                
3 GSMC Phillips Point     119 0 120 1 6 5 days grace, once per 12-month period, other than the payment due on the Maturity Date
4 CREFI 141 Livingston     120 0 120 0 6 0
5 JPMCB Pittock Block     118 0 120 2 1 0
6 CREFI/JPMCB The Galleria Office Towers     120 360 0 0 6 0
6.01 CREFI/JPMCB Galleria Tower I                
6.02 CREFI/JPMCB Galleria Tower II                
6.03 CREFI/JPMCB Galleria Financial Center                
7 GSMC U.S. Industrial Portfolio VI     120 0 120 0 6 0
7.01 GSMC True Value                
7.02 GSMC Belnick                
7.03 GSMC Tufco - 3161 South Ridge Road                
7.04 GSMC Pro Con - 109 Maplewood Drive                
7.05 GSMC Total Logistics                
7.06 GSMC Pro Con - 2441 East Glendale Avenue                
7.07 GSMC Amaray                
7.08 GSMC Pro Con - 2430 East Glendale Avenue                
7.09 GSMC Tufco - 1205 Burris Road                
7.10 GSMC Tufco - 1055 Parkview Road                
8 CREFI Boca Office Portfolio     60 0 60 0 6 0
8.01 CREFI Boardwalk @ 18th                
8.02 CREFI Fountains Center                
8.03 CREFI City National Park                
8.04 CREFI Grove Centre                
9 CREFI Gestamp Automocion SLB 03/06/26 04/06/26 120 360 60 0 6 0
10 JPMCB 30 Hudson Yards 67     120 0 120 0 7 0
11 GSMC Dawson Marketplace     107 0 120 13 6 0
12 GACC 8670 Wilshire     120 0 120 0 6 0
13 GSMC JW Marriott Nashville     108 0 120 12 6 0
14 CREFI Morgan Stanley Tower 03/06/24 04/06/24 120 360 36 0 6 5 (One time only)
15 JPMCB The Village at Meridian     119 0 120 1 5 0
16 GSMC Millennium Corporate Park     58 0 60 2 6 5
17 GSMC 711 Fifth Avenue     108 0 120 12 6 0
18 JPMCB Oakland Commons I&II 03/01/23 04/01/23 120 360 24 0 1 0
19 GACC Orlando Technology Park 03/06/24 04/06/24 120 360 36 0 6 5 (Once per every 366 day period)
20 GACC Woodbury Crossing Phase II     120 0 120 0 6 0
21 CREFI Advanced Energy 03/06/24 04/06/24 120 360 36 0 6 0
22 CREFI Value Store It Miami     120 0 120 0 6 0
23 GSMC Willoughby Commons 01/06/24 02/06/24 106 360 48 14 6 0
24 JPMCB Camellia Trace     120 0 120 0 1 0
25 GACC Dollar General Portfolio     119 0 120 1 6 0
25.01 GACC Robinsonville                
25.02 GACC Saint Mary’s                
25.03 GACC Alexandria (Carlos)                
25.04 GACC St. Martinville                
25.05 GACC Fife Lake                
25.06 GACC Waubun                
25.07 GACC Lake Village                
25.08 GACC New Era                
25.09 GACC Mooers                
25.10 GACC Hinckley                
25.11 GACC Center                
25.12 GACC Lepanto                
25.13 GACC Edgemont                
25.14 GACC Louisa                
25.15 GACC Prue                
26 CREFI 9633 Westheimer Road     120 0 120 0 6 0
27 CREFI 46-50 East 167th Street     120 0 120 0 6 0
28 CREFI Bridgeport Distribution Center 03/06/24 04/06/24 120 360 36 0 6 0
29 CREFI 303 3rd Street     120 0 120 0 6 0
30 CREFI 5501 New Utrecht Avenue     118 0 120 2 6 0
31 CREFI Hamden Self Storage     120 360 0 0 6 0
 A-1-7 

 

ANNEX A-1

 

                     
      Partial IO Partial IO Loan Rem. Rem.     Payment Grace Period
Loan # Seller(1) Property Name Last IO Payment First P&I Payment Term  Amort I/O Period Seasoning Due Date  (Late Payment)(12)
32 JPMCB Bristol Park     120 0 120 0 1 0
33 GACC 6450 Industrial 03/06/26 04/06/26 120 360 60 0 6 0
34 CREFI 651 Bushwick Avenue     120 0 120 0 6 0
35 GSMC Grocery Outlet Truckee     120 0 120 0 6 0
36 JPMCB Holiday Inn Philadelphia South     92 332 0 28 1 0
37 CREFI CVS Valley Stream     120 0 120 0 6 0
38 CREFI Deschutes Business Center     120 0 120 0 6 0
39 CREFI The Cove Storage Portfolio 03/06/24 04/06/24 120 360 36 0 6 0
39.01 CREFI James Road                
39.02 CREFI Green Cove Road                
39.03 CREFI Taylor Lane                
40 CREFI Scotsman Self Storage 02/06/24 03/06/24 119 360 36 1 6 0
 A-1-8 

 

ANNEX A-1

 

                     
      Grace Period     Final   Maturity/ARD   Maturity Prepayment
Loan # Seller(1) Property Name  (Default)(12) Maturity Date ARD Loan Mat Date Balance ($)(6)   LTV %(5) Provision (Payments)(13)
1 JPMCB 410 Tenth Avenue 0 01/01/28 Yes 03/01/32 80,000,000   39.8% L(26),Def(54),O(4)
2 CREFI/GACC MGM Grand & Mandalay Bay 0 03/05/30 Yes 03/05/32 79,985,667   35.5% Grtr0.5%orYM(35),DeforGrtr0.5%orYM(78),O(7)
2.01 CREFI/GACC MGM Grand         43,592,189      
2.02 CREFI/GACC Mandalay Bay         36,393,478      
3 GSMC Phillips Point 0 02/06/31 No 02/06/31 75,000,000   68.7% L(25),Def(90),O(5)
4 CREFI 141 Livingston 0 03/06/31 No 03/06/31 75,000,000   54.9% L(24),Def(92),O(4)
5 JPMCB Pittock Block 0 01/01/31 No 01/01/31 66,000,000   42.9% L(4),Grtr1%orYM(112),O(4)
6 CREFI/JPMCB The Galleria Office Towers 0 03/06/31 No 03/06/31 52,481,454   39.3% L(24),Def(91),O(5)
6.01 CREFI/JPMCB Galleria Tower I         24,267,594      
6.02 CREFI/JPMCB Galleria Tower II         15,763,381      
6.03 CREFI/JPMCB Galleria Financial Center         12,450,478      
7 GSMC U.S. Industrial Portfolio VI 0 03/06/31 No 03/06/31 60,000,000   59.3% L(24),Def(92),O(4)
7.01 GSMC True Value         16,044,444      
7.02 GSMC Belnick         12,844,444      
7.03 GSMC Tufco - 3161 South Ridge Road         6,622,222      
7.04 GSMC Pro Con - 109 Maplewood Drive         5,742,222      
7.05 GSMC Total Logistics         4,747,407      
7.06 GSMC Pro Con - 2441 East Glendale Avenue         4,149,630      
7.07 GSMC Amaray         4,043,704      
7.08 GSMC Pro Con - 2430 East Glendale Avenue         2,954,074      
7.09 GSMC Tufco - 1205 Burris Road         1,576,296      
7.10 GSMC Tufco - 1055 Parkview Road         1,275,556      
8 CREFI Boca Office Portfolio 0 03/06/26 No 03/06/26 50,000,000   63.5% L(24),Def(33),O(3)
8.01 CREFI Boardwalk @ 18th         15,151,515      
8.02 CREFI Fountains Center         14,393,939      
8.03 CREFI City National Park         14,393,939      
8.04 CREFI Grove Centre         6,060,606      
9 CREFI Gestamp Automocion SLB 0 03/06/31 No 03/06/31 44,619,939   56.6% Grtr4%orYM(24),DeforGrtr1%orYM(89),O(7)
10 JPMCB 30 Hudson Yards 67 0 03/07/31 No 03/07/31 45,000,000   64.5% L(24),Def(93),O(3)
11 GSMC Dawson Marketplace 0 02/06/30 No 02/06/30 43,800,000   64.4% L(37),Def(79),O(4)
12 GACC 8670 Wilshire 0 03/06/31 No 03/06/31 42,500,000   60.4% L(24),Def(91),O(5)
13 GSMC JW Marriott Nashville 0 03/06/30 No 03/06/30 35,000,000   61.5% L(36),Def(77),O(7)
14 CREFI Morgan Stanley Tower 0 03/06/31 No 03/06/31 29,042,251   53.7% L(24),Def(90),O(6)
15 JPMCB The Village at Meridian 0 02/05/31 No 02/05/31 30,995,000   33.5% L(24),Grtr1%orYM(1),DeforGrtr1%orYM(91),O(4)
16 GSMC Millennium Corporate Park 0 01/06/26 No 01/06/26 27,000,000   60.9% L(26),Def(29),O(5)
17 GSMC 711 Fifth Avenue 0 03/06/30 No 03/06/30 26,500,000   54.5% L(36),Def(77),O(7)
18 JPMCB Oakland Commons I&II 5 (Once per year) 03/01/31 No 03/01/31 20,595,926   59.0% L(24),Def(92),O(4)
19 GACC Orlando Technology Park 0 03/06/31 No 03/06/31 20,629,072   58.9% L(24),Def(92),O(4)
20 GACC Woodbury Crossing Phase II 0 03/06/31 No 03/06/31 20,380,000   62.1% L(24),Def(92),O(4)
21 CREFI Advanced Energy 0 03/06/31 No 03/06/31 15,856,059   51.7% L(24),Def(93),O(3)
22 CREFI Value Store It Miami 0 03/06/31 No 03/06/31 17,000,000   62.5% L(24),Def(92),O(4)
23 GSMC Willoughby Commons 0 01/06/30 No 01/06/30 15,042,338   63.4% L(38),Def(77),O(5)
24 JPMCB Camellia Trace 0 03/01/31 No 03/01/31 15,655,000   63.4% L(25),Grtr1%orYM(91),O(4)
25 GACC Dollar General Portfolio 0 02/06/31 No 02/06/31 13,850,000   65.0% L(25),Def(90),O(5)
25.01 GACC Robinsonville         1,126,069      
25.02 GACC Saint Mary’s         1,008,225      
25.03 GACC Alexandria (Carlos)         995,131      
25.04 GACC St. Martinville         942,756      
25.05 GACC Fife Lake         936,209      
25.06 GACC Waubun         929,662      
25.07 GACC Lake Village         923,115      
25.08 GACC New Era         916,568      
25.09 GACC Mooers         903,474      
25.10 GACC Hinckley         896,927      
25.11 GACC Center         896,927      
25.12 GACC Lepanto         883,834      
25.13 GACC Edgemont         867,466      
25.14 GACC Louisa         844,552      
25.15 GACC Prue         779,083      
26 CREFI 9633 Westheimer Road 0 03/06/31 No 03/06/31 13,681,250   62.5% L(24),Def(92),O(4)
27 CREFI 46-50 East 167th Street 0 03/06/31 No 03/06/31 13,585,000   65.0% L(2),Grtr1%orYM(115),O(3)
28 CREFI Bridgeport Distribution Center 0 03/06/31 No 03/06/31 10,075,345   60.0% L(24),Def(92),O(4)
29 CREFI 303 3rd Street 0 03/06/31 No 03/06/31 9,500,000   52.6% L(24),Def(91),O(5)
30 CREFI 5501 New Utrecht Avenue 0 01/06/31 No 01/06/31 9,500,000   57.2% L(26),Def(91),O(3)
31 CREFI Hamden Self Storage 0 03/06/31 No 03/06/31 7,511,012   49.1% L(24),Def(92),O(4)
 A-1-9 

 

ANNEX A-1

 

                     
      Grace Period     Final   Maturity/ARD   Maturity Prepayment
Loan # Seller(1) Property Name  (Default)(12) Maturity Date ARD Loan Mat Date Balance ($)(6)   LTV %(5) Provision (Payments)(13)
32 JPMCB Bristol Park 0 03/01/31 No 03/01/31 8,515,000   65.5% L(25),Grtr1%orYM(91),O(4)
33 GACC 6450 Industrial 0 03/06/31 No 03/06/31 6,954,011   54.1% L(24),Def(91),O(5)
34 CREFI 651 Bushwick Avenue 0 03/06/31 No 03/06/31 7,000,000   56.5% L(24),Def(93),O(3)
35 GSMC Grocery Outlet Truckee 0 03/06/31 No 03/06/31 6,600,000   50.0% L(24),Def(89),O(7)
36 JPMCB Holiday Inn Philadelphia South 0 11/01/28 No 11/01/28 5,380,813   53.8% L(25),Grtr1%orYM(92),O(3)
37 CREFI CVS Valley Stream 0 03/06/31 No 03/06/31 6,180,000   60.6% L(24),Def(92),O(4)
38 CREFI Deschutes Business Center 0 03/06/31 No 03/06/31 5,500,000   57.9% L(24),Def(92),O(4)
39 CREFI The Cove Storage Portfolio 0 03/06/31 No 03/06/31 4,384,297   56.2% L(24),Def(92),O(4)
39.01 CREFI James Road         1,864,834      
39.02 CREFI Green Cove Road         1,653,802      
39.03 CREFI Taylor Lane         865,662      
40 CREFI Scotsman Self Storage 0 02/06/31 No 02/06/31 2,647,543   60.2% L(25),Def(91),O(4)
                     
 A-1-10 

 

ANNEX A-1

 

    HISTORICAL FINANCIALS(14)
                               
      2017 2017 2017 2018 2018 2018 2019 2019 2019 Most Recent Most Recent Most Recent  
Loan # Seller(1) Property Name Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($)  Revenues ($)  Total Expenses ($) NOI ($)(15) As of
1 JPMCB 410 Tenth Avenue                          
2 CREFI/GACC MGM Grand & Mandalay Bay 2,161,960,165 1,556,922,957 605,037,208 2,191,540,530 1,574,171,264 617,369,266 2,106,295,488 1,586,215,135 520,080,353 1,157,516,861 935,475,514 222,041,347 09/30/20
2.01 CREFI/GACC MGM Grand 1,179,680,639 834,995,842 344,684,797 1,226,105,346 854,539,115 371,566,231 1,161,850,748 879,242,083 282,608,665 662,869,240 533,910,560 128,958,680 09/30/20
2.02 CREFI/GACC Mandalay Bay 982,279,526 721,927,115 260,352,411 965,435,184 719,632,149 245,803,035 944,444,740 706,973,052 237,471,688 494,647,621 401,564,954 93,082,667 09/30/20
3 GSMC Phillips Point 23,410,018 8,783,998 14,626,020 25,191,774 9,017,791 16,173,983 25,024,486 9,421,017 15,603,469 26,444,348 9,026,741 17,417,607 11/30/20
4 CREFI 141 Livingston 11,740,471 3,188,719 8,551,752 11,375,314 3,307,738 8,067,576 11,956,405 3,852,419 8,103,986 12,497,970 4,283,397 8,214,573 09/30/20
5 JPMCB Pittock Block 13,166,469 3,537,767 9,628,702 14,107,319 5,034,876 9,072,443 15,357,144 5,337,329 10,019,815 16,674,600 5,627,162 11,047,438 11/30/20
6 CREFI/JPMCB The Galleria Office Towers 26,749,292 13,278,242 13,471,050 28,701,343 13,539,624 15,161,719 26,285,767 13,909,984 12,375,783 25,710,718 13,251,714 12,459,004 12/31/20
6.01 CREFI/JPMCB Galleria Tower I 11,076,241 6,085,514 4,990,728 13,159,814 6,172,968 6,986,846 13,355,546 6,322,096 7,033,450 14,475,006 6,136,741 8,338,265 12/31/20
6.02 CREFI/JPMCB Galleria Tower II 8,621,729 3,923,686 4,698,043 8,239,631 4,058,660 4,180,971 7,540,539 4,118,572 3,421,967 7,275,570 3,976,206 3,299,364 12/31/20
6.03 CREFI/JPMCB Galleria Financial Center 7,051,321 3,269,042 3,782,279 7,301,898 3,307,996 3,993,902 5,389,682 3,469,316 1,920,366 3,960,142 3,138,768 821,374 12/31/20
7 GSMC U.S. Industrial Portfolio VI                          
7.01 GSMC True Value                          
7.02 GSMC Belnick                          
7.03 GSMC Tufco - 3161 South Ridge Road                          
7.04 GSMC Pro Con - 109 Maplewood Drive                          
7.05 GSMC Total Logistics                          
7.06 GSMC Pro Con - 2441 East Glendale Avenue                          
7.07 GSMC Amaray                          
7.08 GSMC Pro Con - 2430 East Glendale Avenue                          
7.09 GSMC Tufco - 1205 Burris Road                          
7.10 GSMC Tufco - 1055 Parkview Road                          
8 CREFI Boca Office Portfolio 11,976,379 5,035,273 6,941,106 13,568,307 5,056,153 8,512,154 14,625,310 5,697,675 8,927,635 13,895,191 5,846,969 8,048,222 12/31/20
8.01 CREFI Boardwalk @ 18th 2,129,818 1,303,210 826,608 3,984,565 1,248,816 2,735,749 4,494,033 1,328,656 3,165,377 3,992,387 1,521,784 2,470,603 12/31/20
8.02 CREFI Fountains Center 4,717,108 1,845,297 2,871,811 4,595,137 1,911,729 2,683,408 4,608,760 2,215,470 2,393,290 4,444,768 2,140,294 2,304,474 12/31/20
8.03 CREFI City National Park 3,821,635 1,309,085 2,512,550 3,526,454 1,319,363 2,207,091 3,987,812 1,490,022 2,497,790 3,692,576 1,598,181 2,094,395 12/31/20
8.04 CREFI Grove Centre 1,307,818 577,682 730,136 1,462,151 576,246 885,905 1,534,705 663,527 871,178 1,765,460 586,711 1,178,749 12/31/20
9 CREFI Gestamp Automocion SLB                          
10 JPMCB 30 Hudson Yards 67                          
11 GSMC Dawson Marketplace       4,313,060 839,535 3,473,525 4,922,998 957,637 3,965,361 4,587,733 916,721 3,671,012 12/31/20
12 GACC 8670 Wilshire 3,530,532 885,907 2,644,625 3,708,299 1,074,298 2,634,001 3,954,464 1,103,805 2,850,658 3,925,244 1,099,581 2,825,663 12/31/20
13 GSMC JW Marriott Nashville             93,677,197 65,123,527 28,553,670 48,245,221 40,461,820 7,783,401 09/30/20
14 CREFI Morgan Stanley Tower 4,812,797 1,947,477 2,865,319 5,062,067 2,045,733 3,016,334 5,267,953 2,071,198 3,196,755 5,565,158 2,192,104 3,373,053 12/31/20
15 JPMCB The Village at Meridian 19,006,696 8,151,813 10,854,883 18,970,139 8,128,280 10,841,859 20,491,196 7,886,173 12,605,023 21,395,616 7,579,294 13,816,322 10/31/20
16 GSMC Millennium Corporate Park 12,492,137 2,779,147 9,712,990 13,171,355 3,120,392 10,050,963 14,163,501 3,148,266 11,015,235 14,590,482 3,260,799 11,329,683 10/31/20
17 GSMC 711 Fifth Avenue 62,723,555 17,358,037 45,365,518 63,038,695 18,950,129 44,088,566 69,563,590 20,967,241 48,596,349 69,551,475 22,478,883 47,072,592 09/30/20
18 JPMCB Oakland Commons I&II       4,537,061 2,250,639 2,286,422 4,486,044 1,999,743 2,486,301 4,577,523 1,992,178 2,585,345 12/31/20
19 GACC Orlando Technology Park 2,407,985 911,099 1,496,887 2,834,283 1,058,179 1,776,104 3,641,046 1,058,108 2,582,938 3,717,608 1,120,111 2,597,497 11/30/20
20 GACC Woodbury Crossing Phase II                   1,104,528 281,915 822,613 12/31/20
21 CREFI Advanced Energy       1,749,114 524,520 1,224,594 1,795,172 587,304 1,207,867 1,860,489 617,703 1,242,785 11/30/20
22 CREFI Value Store It Miami             1,789,933 646,250 1,143,683 1,948,939 645,367 1,303,572 01/31/21
23 GSMC Willoughby Commons 4,700,619 1,259,309 3,441,310 4,806,432 1,218,102 3,588,330       4,230,476 1,041,512 3,188,964 09/30/20
24 JPMCB Camellia Trace                   2,364,409 941,158 1,423,251 12/31/20
25 GACC Dollar General Portfolio                          
25.01 GACC Robinsonville                          
25.02 GACC Saint Mary’s                          
25.03 GACC Alexandria (Carlos)                          
25.04 GACC St. Martinville                          
25.05 GACC Fife Lake                          
25.06 GACC Waubun                          
25.07 GACC Lake Village                          
25.08 GACC New Era                          
25.09 GACC Mooers                          
25.10 GACC Hinckley                          
25.11 GACC Center                          
25.12 GACC Lepanto                          
25.13 GACC Edgemont                          
25.14 GACC Louisa                          
25.15 GACC Prue                          
26 CREFI 9633 Westheimer Road                          
27 CREFI 46-50 East 167th Street       1,325,543 247,801 1,077,742 1,380,859 301,206 1,079,653 1,408,614 334,184 1,074,430 12/31/20
28 CREFI Bridgeport Distribution Center                   2,227,759 717,351 1,510,408 12/31/20
29 CREFI 303 3rd Street             459,965 120,962 339,003 597,433 137,716 459,717 12/31/20
30 CREFI 5501 New Utrecht Avenue                          
31 CREFI Hamden Self Storage 1,312,388 511,011 801,378 1,445,300 614,060 831,240 1,394,820 557,091 837,728 1,430,631 520,463 910,168 12/31/20
 A-1-11 

 

ANNEX A-1

 

      HISTORICAL FINANCIALS(14)
      2017 2017 2017 2018 2018 2018 2019 2019 2019 Most Recent Most Recent Most Recent  
Loan # Seller(1) Property Name Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($)  Revenues ($)  Total Expenses ($) NOI ($)(15) As of
32 JPMCB Bristol Park                   1,362,204 598,956 763,248 12/31/20
33 GACC 6450 Industrial             807,913   807,913 1,089,692 17,739 1,071,952 12/31/20
34 CREFI 651 Bushwick Avenue                          
35 GSMC Grocery Outlet Truckee                          
36 JPMCB Holiday Inn Philadelphia South 4,495,273 3,920,032 575,241 4,653,603 3,828,948 824,655 3,958,155 3,634,530 323,625 2,830,115 2,524,561 305,554 01/31/21
37 CREFI CVS Valley Stream 767,687 196,986 570,701 810,210 196,990 613,220 833,750 187,230 646,520 879,778 186,221 693,557 11/30/20
38 CREFI Deschutes Business Center             797,054 367,671 429,383 902,955 313,178 589,777 12/31/20
39 CREFI The Cove Storage Portfolio       677,961 206,874 471,087 681,821 203,312 478,509 688,891 221,936 466,955 10/31/20
39.01 CREFI James Road       277,563 86,497 191,066 281,089 83,834 197,255 280,954 83,342 197,612 10/31/20
39.02 CREFI Green Cove Road       249,882 62,010 187,872 250,196 62,190 188,006 253,254 74,486 178,768 10/31/20
39.03 CREFI Taylor Lane       150,516 58,367 92,149 150,536 57,287 93,249 154,683 64,108 90,575 10/31/20
40 CREFI Scotsman Self Storage             424,591 113,488 311,102 415,327 118,466 296,861 10/31/20
 A-1-12 

 

ANNEX A-1

 

                             
      UW                        
      Economic UW UW Total UW UW Capital UW UW UW NCF UW NOI UW NCF   Ground Lease Ground Lease
Loan # Seller(1) Property Name Occupancy % Revenues ($)(4) Expenses ($) NOI ($)(4)(15)(16)  Items ($) NCF ($)(4)(16)  NOI DSCR(17) DSCR(17) Debt Yield %  Debt Yield % Title Type(3)(18)  Expiration  Extension Terms
1 JPMCB 410 Tenth Avenue 98.0% 63,431,013 14,141,037 49,289,976 284,375 49,005,601 4.94 4.91 13.0% 12.9% Fee    
2 CREFI/GACC MGM Grand & Mandalay Bay 92.1% 2,106,295,488 1,586,215,135 520,080,353 32,774,592 487,305,761 4.95 4.95 17.9% 17.9% Fee    
2.01 CREFI/GACC MGM Grand 91.4% 1,161,850,748 879,242,083 282,608,665 16,011,953 266,596,712         Fee    
2.02 CREFI/GACC Mandalay Bay 92.8% 944,444,740 706,973,052 237,471,688 16,762,639 220,709,049         Fee    
3 GSMC Phillips Point 92.5% 28,497,504 9,339,815 19,157,689 491,785 18,665,904 2.85 2.78 9.7% 9.4% Fee    
4 CREFI 141 Livingston 95.0% 14,702,075 5,797,645 8,904,430 701,551 8,202,879 2.74 2.52 8.9% 8.2% Fee    
5 JPMCB Pittock Block 72.5% 18,158,626 5,574,346 12,584,281 803,788 11,780,493 2.67 2.50 8.9% 8.4% Fee    
6 CREFI/JPMCB The Galleria Office Towers 68.7% 25,273,331 13,960,632 11,312,699 1,979,410 9,333,289 2.08 1.71 12.6% 10.4% Fee    
6.01 CREFI/JPMCB Galleria Tower I 78.4% 14,068,746 6,512,290 7,556,456 1,000,125 6,556,331         Fee    
6.02 CREFI/JPMCB Galleria Tower II 65.3% 6,843,731 4,135,679 2,708,052 708,817 1,999,236         Fee    
6.03 CREFI/JPMCB Galleria Financial Center 51.9% 4,360,855 3,312,664 1,048,191 270,468 777,722         Fee    
7 GSMC U.S. Industrial Portfolio VI 91.9% 8,943,989 268,320 8,675,669 857,895 7,817,775 2.84 2.56 10.7% 9.7% Fee    
7.01 GSMC True Value 92.9% 2,406,946 72,208 2,334,737 396,519 1,938,218         Fee    
7.02 GSMC Belnick 95.6% 1,779,184 53,376 1,725,809 141,428 1,584,381         Fee    
7.03 GSMC Tufco - 3161 South Ridge Road 95.0% 1,130,867 33,926 1,096,941 76,692 1,020,249         Fee    
7.04 GSMC Pro Con - 109 Maplewood Drive 97.0% 824,584 24,738 799,847 60,818 739,029         Fee    
7.05 GSMC Total Logistics 96.3% 754,061 22,622 731,439 25,454 705,985         Fee    
7.06 GSMC Pro Con - 2441 East Glendale Avenue 97.0% 691,816 20,754 671,062 51,072 619,990         Fee    
7.07 GSMC Amaray 95.0% 645,164 19,355 625,809 56,520 569,289         Fee    
7.08 GSMC Pro Con - 2430 East Glendale Avenue 97.0% 491,972 14,759 477,212 36,626 440,586         Fee    
7.09 GSMC Tufco - 1205 Burris Road 0.0% 0 0 0 0 0         Fee    
7.10 GSMC Tufco - 1055 Parkview Road 95.0% 219,395 6,582 212,813 12,766 200,047         Fee    
8 CREFI Boca Office Portfolio 92.6% 16,623,446 6,161,981 10,461,465 538,846 9,922,619 2.59 2.46 10.6% 10.0% Fee    
8.01 CREFI Boardwalk @ 18th 95.0% 4,793,055 1,573,741 3,219,314 165,667 3,053,647         Fee    
8.02 CREFI Fountains Center 86.9% 5,288,444 2,332,314 2,956,130 167,704 2,788,425         Fee    
8.03 CREFI City National Park 97.6% 4,752,927 1,662,836 3,090,091 149,483 2,940,608         Fee    
8.04 CREFI Grove Centre 91.6% 1,789,020 593,091 1,195,930 55,992 1,139,938         Fee    
9 CREFI Gestamp Automocion SLB 95.0% 5,177,982 823,112 4,354,870 248,182 4,106,687 1.61 1.52 8.8% 8.3% Fee/Leasehold    
10 JPMCB 30 Hudson Yards 67 95.0% 6,405,945 1,700,425 4,705,520 53,945 4,651,575 1.94 1.92 6.6% 6.6% Fee    
11 GSMC Dawson Marketplace 94.5% 5,493,094 1,083,965 4,409,129 347,632 4,061,498 2.80 2.58 10.1% 9.3% Fee    
12 GACC 8670 Wilshire 95.0% 4,407,286 1,104,428 3,302,858 60,624 3,242,234 2.03 1.99 7.8% 7.6% Fee    
13 GSMC JW Marriott Nashville 85.8% 94,449,843 66,104,698 28,345,145 3,777,994 24,567,151 4.81 4.17 15.3% 13.3% Fee/Leasehold 03/06/2030 Four, 10-year options
14 CREFI Morgan Stanley Tower 93.0% 5,714,307 2,078,501 3,635,806 278,813 3,356,993 1.98 1.83 10.7% 9.9% Fee/Leasehold 07/30/2059 None
15 JPMCB The Village at Meridian 81.4% 20,128,093 7,548,855 12,579,238 547,253 12,031,985 5.37 5.14 19.1% 18.2% Fee    
16 GSMC Millennium Corporate Park 96.0% 16,787,509 3,539,016 13,248,492 528,010 12,720,483 3.26 3.13 10.0% 9.6% Fee    
17 GSMC 711 Fifth Avenue 90.6% 74,193,553 22,888,769 51,304,783 629,356 50,675,427 2.94 2.90 9.4% 9.3% Fee    
18 JPMCB Oakland Commons I&II 77.2% 4,486,232 2,020,520 2,465,712 132,271 2,333,441 1.73 1.63 10.1% 9.6% Fee    
19 GACC Orlando Technology Park 90.7% 4,071,833 1,281,177 2,790,656 152,778 2,637,878 2.14 2.03 11.6% 10.9% Fee    
20 GACC Woodbury Crossing Phase II 95.0% 2,279,577 526,184 1,753,392 22,500 1,730,892 1.99 1.96 8.6% 8.5% Fee    
21 CREFI Advanced Energy 95.0% 2,312,818 627,151 1,685,667 48,829 1,636,838 1.63 1.58 9.2% 8.9% Fee    
22 CREFI Value Store It Miami 88.6% 2,105,866 663,548 1,442,318 11,985 1,430,333 2.32 2.30 8.5% 8.4% Fee    
23 GSMC Willoughby Commons 95.0% 5,143,774 1,681,913 3,461,862 168,202 3,293,659 1.63 1.55 9.4% 8.9% Fee    
24 JPMCB Camellia Trace 95.0% 2,423,878 949,429 1,474,448 53,000 1,421,448 2.69 2.59 9.4% 9.1% Fee    
25 GACC Dollar General Portfolio 95.0% 1,302,023 39,061 1,262,962 20,852 1,242,110 2.85 2.81 9.1% 9.0% Fee    
25.01 GACC Robinsonville                     Fee    
25.02 GACC Saint Mary’s                     Fee    
25.03 GACC Alexandria (Carlos)                     Fee    
25.04 GACC St. Martinville                     Fee    
25.05 GACC Fife Lake                     Fee    
25.06 GACC Waubun                     Fee    
25.07 GACC Lake Village                     Fee    
25.08 GACC New Era                     Fee    
25.09 GACC Mooers                     Fee    
25.10 GACC Hinckley                     Fee    
25.11 GACC Center                     Fee    
25.12 GACC Lepanto                     Fee    
25.13 GACC Edgemont                     Fee    
25.14 GACC Louisa                     Fee    
25.15 GACC Prue                     Fee    
26 CREFI 9633 Westheimer Road 95.0% 1,725,297 520,020 1,205,277 65,590 1,139,687 2.23 2.11 8.8% 8.3% Fee    
27 CREFI 46-50 East 167th Street 97.4% 1,475,871 359,400 1,116,471 24,536 1,091,935 2.11 2.06 8.2% 8.0% Fee    
28 CREFI Bridgeport Distribution Center 95.0% 2,211,721 760,672 1,451,049 148,613 1,302,437 2.21 1.99 12.4% 11.1% Fee    
29 CREFI 303 3rd Street 95.0% 1,134,345 295,003 839,342 46,975 792,367 2.37 2.24 8.8% 8.3% Fee    
30 CREFI 5501 New Utrecht Avenue 95.0% 923,884 126,423 797,461 36,055 761,406 2.19 2.09 8.4% 8.0% Fee    
31 CREFI Hamden Self Storage 81.7% 1,430,631 566,999 863,632 41,184 822,448 1.61 1.54 9.9% 9.4% Fee    
 A-1-13 

 

ANNEX A-1

 

      UW                        
      Economic UW UW Total UW UW Capital UW UW UW NCF UW NOI UW NCF   Ground Lease Ground Lease
Loan # Seller(1) Property Name Occupancy % Revenues ($)(4) Expenses ($) NOI ($)(4)(15)(16)  Items ($) NCF ($)(4)(16)  NOI DSCR(17) DSCR(17) Debt Yield %  Debt Yield % Title Type(3)(18)  Expiration  Extension Terms
32 JPMCB Bristol Park 94.5% 1,397,074 587,820 809,254 28,000 781,254 2.67 2.58 9.5% 9.2% Fee    
33 GACC 6450 Industrial 95.0% 1,243,812 215,063 1,028,749 57,049 971,699 2.32 2.19 13.4% 12.7% Fee    
34 CREFI 651 Bushwick Avenue 95.0% 679,531 135,327 544,204 15,567 528,638 1.96 1.90 7.8% 7.6% Fee    
35 GSMC Grocery Outlet Truckee 95.0% 848,803 192,797 656,006 10,535 645,471 2.55 2.51 9.9% 9.8% Fee    
36 JPMCB Holiday Inn Philadelphia South 59.8% 4,653,603 3,874,359 779,244 0 779,244 1.82 1.82 12.4% 12.4% Fee    
37 CREFI CVS Valley Stream 97.5% 675,544 175,710 499,835 7,868 491,966 1.99 1.96 8.1% 8.0% Fee    
38 CREFI Deschutes Business Center 88.1% 877,062 323,053 554,009 36,702 517,307 2.63 2.45 10.1% 9.4% Fee    
39 CREFI The Cove Storage Portfolio 81.9% 688,891 238,375 450,516 11,085 439,431 1.58 1.54 8.9% 8.6% Fee    
39.01 CREFI James Road 82.6% 280,954 90,436 190,518 5,045 185,473         Fee    
39.02 CREFI Green Cove Road 79.9% 253,254 81,214 172,041 3,700 168,341         Fee    
39.03 CREFI Taylor Lane 84.3% 154,683 66,726 87,957 2,340 85,617         Fee    
40 CREFI Scotsman Self Storage 90.0% 404,447 122,888 281,559 4,450 277,109 1.66 1.63 9.1% 9.0% Fee    
                               
 A-1-14 

 

ANNEX A-1

 

                           
      Franchise     Upfront Capex Upfront Engin. Upfront Envir. Upfront TI/LC Upfront RE Tax Upfront Ins. Upfront Debt Service Upfront Other
Loan # Seller(1) Property Name Expiration Date(19) PML %   Reserve ($) Reserve ($)  Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($)
1 JPMCB 410 Tenth Avenue       10,647 0 0 53,233 379,548 78,467 0 92,879,875
2 CREFI/GACC MGM Grand & Mandalay Bay       0 0 0 0 0 0 0 0
2.01 CREFI/GACC MGM Grand                      
2.02 CREFI/GACC Mandalay Bay                      
3 GSMC Phillips Point       0 768,881 0 6,650,000 0 0 0 1,556,161
4 CREFI 141 Livingston       0 0 0 0 70,582 0 0 0
5 JPMCB Pittock Block   16%   0 0 0 0 0 0 1,512,030 7,500,000
6 CREFI/JPMCB The Galleria Office Towers       0 0 0 6,000,000 1,133,321 0 0 2,290,985
6.01 CREFI/JPMCB Galleria Tower I                      
6.02 CREFI/JPMCB Galleria Tower II                      
6.03 CREFI/JPMCB Galleria Financial Center                      
7 GSMC U.S. Industrial Portfolio VI       0 0 0 0 0 0 0 701,088
7.01 GSMC True Value                      
7.02 GSMC Belnick                      
7.03 GSMC Tufco - 3161 South Ridge Road                      
7.04 GSMC Pro Con - 109 Maplewood Drive                      
7.05 GSMC Total Logistics                      
7.06 GSMC Pro Con - 2441 East Glendale Avenue                      
7.07 GSMC Amaray                      
7.08 GSMC Pro Con - 2430 East Glendale Avenue                      
7.09 GSMC Tufco - 1205 Burris Road                      
7.10 GSMC Tufco - 1055 Parkview Road                      
8 CREFI Boca Office Portfolio       0 18,755 6,750 1,500,000 609,758 1,008,948 1,000,000 211,000
8.01 CREFI Boardwalk @ 18th                      
8.02 CREFI Fountains Center                      
8.03 CREFI City National Park                      
8.04 CREFI Grove Centre                      
9 CREFI Gestamp Automocion SLB       0 0 0 0 0 0 0 0
10 JPMCB 30 Hudson Yards 67       0 0 0 0 143,650 97,653 0 4,868,592
11 GSMC Dawson Marketplace       0 0 0 0 139,820 0 0 6,475,815
12 GACC 8670 Wilshire   17%   0 0 0 0 0 39,366 0 617,517
13 GSMC JW Marriott Nashville 07/01/2048     1,875,692 0 0 0 0 0 8,831,707 0
14 CREFI Morgan Stanley Tower       0 0 0 643,632 185,636 122,133 0 489,553
15 JPMCB The Village at Meridian       0 0 0 0 0 0 0 3,742,823
16 GSMC Millennium Corporate Park   9%   0 0 0 0 0 0 0 9,568,123
17 GSMC 711 Fifth Avenue       0 0 0 0 0 0 0 3,048,024
18 JPMCB Oakland Commons I&II       5,264 30,360 0 1,400,000 331,670 0 0 92,202
19 GACC Orlando Technology Park       0 0 0 1,000,000 135,902 0 325,373 456,925
20 GACC Woodbury Crossing Phase II   7%   0 0 0 0 78,669 0 0 0
21 CREFI Advanced Energy       100,000 0 0 800,000 29,339 0 0 5,203,215
22 CREFI Value Store It Miami       0 0 0 0 17,539 0 0 0
23 GSMC Willoughby Commons       0 110,000 0 825,000 152,941 0 0 566,188
24 JPMCB Camellia Trace       4,417 719 0 0 122,711 52,319 0 0
25 GACC Dollar General Portfolio   Various   0 11,063 0 0 50,000 945 0 0
25.01 GACC Robinsonville                      
25.02 GACC Saint Mary’s                      
25.03 GACC Alexandria (Carlos)                      
25.04 GACC St. Martinville                      
25.05 GACC Fife Lake                      
25.06 GACC Waubun                      
25.07 GACC Lake Village                      
25.08 GACC New Era                      
25.09 GACC Mooers                      
25.10 GACC Hinckley                      
25.11 GACC Center                      
25.12 GACC Lepanto   6%                  
25.13 GACC Edgemont                      
25.14 GACC Louisa                      
25.15 GACC Prue                      
26 CREFI 9633 Westheimer Road       0 1,250 0 0 103,036 40,777 0 0
27 CREFI 46-50 East 167th Street       0 0 0 0 73,159 4,754 260,832 172,000
28 CREFI Bridgeport Distribution Center       0 0 0 650,000 64,898 8,601 0 0
29 CREFI 303 3rd Street   8%   0 0 0 0 19,581 0 174,325 467,562
30 CREFI 5501 New Utrecht Avenue       0 0 0 0 16,939 4,180 179,550 200,259
31 CREFI Hamden Self Storage       0 168,500 22,500 100,000 45,126 14,706 0 1,275,000
 A-1-15 

 

ANNEX A-1

 

                           
      Franchise     Upfront Capex Upfront Engin. Upfront Envir. Upfront TI/LC Upfront RE Tax Upfront Ins. Upfront Debt Service Upfront Other
Loan # Seller(1) Property Name Expiration Date(19) PML %   Reserve ($) Reserve ($)  Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($)
32 JPMCB Bristol Park       2,333 0 0 0 76,062 33,944 0 0
33 GACC 6450 Industrial       0 6,617 0 0 0 5,280 0 589,825
34 CREFI 651 Bushwick Avenue       0 6,375 0 0 19,318 11,399 0 409,023
35 GSMC Grocery Outlet Truckee   8%   0 0 0 0 0 3,953 0 0
36 JPMCB Holiday Inn Philadelphia South 10/15/2033     0 0 0 0 11,800 0 427,000 2,427,500
37 CREFI CVS Valley Stream       0 0 0 0 10,030 0 0 0
38 CREFI Deschutes Business Center   4%   0 26,679 0 300,000 31,829 0 0 0
39 CREFI The Cove Storage Portfolio       71,346 165,444 0 0 9,756 0 0 0
39.01 CREFI James Road                      
39.02 CREFI Green Cove Road                      
39.03 CREFI Taylor Lane                      
40 CREFI Scotsman Self Storage       96,675 10,594 0 0 4,613 0 0 0
 A-1-16 

 

ANNEX A-1

 

     UPFRONT ESCROW(20)
       
      Other Upfront
Loan # Seller(1) Property Name Description ($)
1 JPMCB 410 Tenth Avenue Free Rent Reserve: 57,700,000; Outstanding TI/LC Reserve: 35,179,874.66
2 CREFI/GACC MGM Grand & Mandalay Bay  
2.01 CREFI/GACC MGM Grand  
2.02 CREFI/GACC Mandalay Bay  
3 GSMC Phillips Point Unfunded Obligations Reserve
4 CREFI 141 Livingston  
5 JPMCB Pittock Block Holdback Reserve
6 CREFI/JPMCB The Galleria Office Towers Unfunded Obligations Reserve: 2,192,842; Condo Reserve: 98,143.16
6.01 CREFI/JPMCB Galleria Tower I  
6.02 CREFI/JPMCB Galleria Tower II  
6.03 CREFI/JPMCB Galleria Financial Center  
7 GSMC U.S. Industrial Portfolio VI Unfunded Obligations Reserve
7.01 GSMC True Value  
7.02 GSMC Belnick  
7.03 GSMC Tufco - 3161 South Ridge Road  
7.04 GSMC Pro Con - 109 Maplewood Drive  
7.05 GSMC Total Logistics  
7.06 GSMC Pro Con - 2441 East Glendale Avenue  
7.07 GSMC Amaray  
7.08 GSMC Pro Con - 2430 East Glendale Avenue  
7.09 GSMC Tufco - 1205 Burris Road  
7.10 GSMC Tufco - 1055 Parkview Road  
8 CREFI Boca Office Portfolio Unfunded Obligations Reserve
8.01 CREFI Boardwalk @ 18th  
8.02 CREFI Fountains Center  
8.03 CREFI City National Park  
8.04 CREFI Grove Centre  
9 CREFI Gestamp Automocion SLB  
10 JPMCB 30 Hudson Yards 67 Outstanding TI/LC Reserve: 4,799,293; Condominium Reserve: 69,299
11 GSMC Dawson Marketplace Unfunded Obligations Reserve
12 GACC 8670 Wilshire Rent Holdback Reserve: 373,770.96; Rent Replication Reserve: 243,746
13 GSMC JW Marriott Nashville  
14 CREFI Morgan Stanley Tower Unfunded Obligations Reserve: 356,368; Rent Concessions Reserve: 133,185
15 JPMCB The Village at Meridian Gap Rent
16 GSMC Millennium Corporate Park Unfunded Obligations Reserve
17 GSMC 711 Fifth Avenue TCO Renewal Reserve: 2,000,000; Unfunded Obligations Reserve: 1,048,024.18
18 JPMCB Oakland Commons I&II Outstanding TI Reserve: 74,622; Free Rent Reserve: 17,580
19 GACC Orlando Technology Park Outstanding TI/LC Reserve: 396,441.50; Free Rent Reserve: 60,483
20 GACC Woodbury Crossing Phase II  
21 CREFI Advanced Energy Unfunded Obligations Reserve
22 CREFI Value Store It Miami  
23 GSMC Willoughby Commons Critical Tenant Reserve: 496,188; Unfunded Obligations Reserve: 70,000
24 JPMCB Camellia Trace  
25 GACC Dollar General Portfolio  
25.01 GACC Robinsonville  
25.02 GACC Saint Mary’s  
25.03 GACC Alexandria (Carlos)  
25.04 GACC St. Martinville  
25.05 GACC Fife Lake  
25.06 GACC Waubun  
25.07 GACC Lake Village  
25.08 GACC New Era  
25.09 GACC Mooers  
25.10 GACC Hinckley  
25.11 GACC Center  
25.12 GACC Lepanto  
25.13 GACC Edgemont  
25.14 GACC Louisa  
25.15 GACC Prue  
26 CREFI 9633 Westheimer Road  
27 CREFI 46-50 East 167th Street Designated Tenant Reserve: 100,000; Unfunded Obligations Reserve: 72,000
28 CREFI Bridgeport Distribution Center  
29 CREFI 303 3rd Street Unfunded Obligations Reserve: 395,580; Gap Rent Reserve: 71,982
30 CREFI 5501 New Utrecht Avenue ICAP Tax Reserve
31 CREFI Hamden Self Storage Economic Holdback Reserve: 750,000; Roof Replacement Reserve: 500,000; Subway HVAC Replacement Reserve: 25,000
 A-1-17 

 

ANNEX A-1

 

      UPFRONT ESCROW(20)
      Other Upfront
Loan # Seller(1) Property Name Description ($)
32 JPMCB Bristol Park  
33 GACC 6450 Industrial HVAC Work Reserve: 479,820; Roof Work Reserve: 110,005
34 CREFI 651 Bushwick Avenue Section 421(a) Reserve: 226,823; Rent Concession Reserve: 182,200
35 GSMC Grocery Outlet Truckee  
36 JPMCB Holiday Inn Philadelphia South PIP Reserve
37 CREFI CVS Valley Stream  
38 CREFI Deschutes Business Center  
39 CREFI The Cove Storage Portfolio  
39.01 CREFI James Road  
39.02 CREFI Green Cove Road  
39.03 CREFI Taylor Lane  
40 CREFI Scotsman Self Storage  
       
 A-1-18 

 

ANNEX A-1

 

      MONTHLY ESCROW(21)  
                       
        Monthly Capex Monthly Envir. Monthly TI/LC Monthly RE Tax Monthly Ins. Monthly Other Other Monthly  
Loan # Seller(1) Property Name   Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Description ($)  
1 JPMCB 410 Tenth Avenue   10,647 0 Springing 378,496 78,467 Springing Base Building Capital Expenditure Reserve  
2 CREFI/GACC MGM Grand & Mandalay Bay   Springing 0 0 Springing Springing 0    
2.01 CREFI/GACC MGM Grand                  
2.02 CREFI/GACC Mandalay Bay                  
3 GSMC Phillips Point   0 0 Springing Springing Springing 0    
4 CREFI 141 Livingston   Springing 0 0 17,646 Springing Springing Renewal Tenant Reserve  
5 JPMCB Pittock Block   Springing 0 Springing Springing Springing 0    
6 CREFI/JPMCB The Galleria Office Towers   21,990 0 88,973 283,330 Springing Springing Condo Reserve  
6.01 CREFI/JPMCB Galleria Tower I                  
6.02 CREFI/JPMCB Galleria Tower II                  
6.03 CREFI/JPMCB Galleria Financial Center                  
7 GSMC U.S. Industrial Portfolio VI   Springing 0 Springing Springing Springing 0    
7.01 GSMC True Value                  
7.02 GSMC Belnick                  
7.03 GSMC Tufco - 3161 South Ridge Road                  
7.04 GSMC Pro Con - 109 Maplewood Drive                  
7.05 GSMC Total Logistics                  
7.06 GSMC Pro Con - 2441 East Glendale Avenue                  
7.07 GSMC Amaray                  
7.08 GSMC Pro Con - 2430 East Glendale Avenue                  
7.09 GSMC Tufco - 1205 Burris Road                  
7.10 GSMC Tufco - 1055 Parkview Road                  
8 CREFI Boca Office Portfolio   10,614 0 42,877 152,439 84,079 0    
8.01 CREFI Boardwalk @ 18th                  
8.02 CREFI Fountains Center                  
8.03 CREFI City National Park                  
8.04 CREFI Grove Centre                  
9 CREFI Gestamp Automocion SLB   Springing 0 0 Springing Springing 0    
10 JPMCB 30 Hudson Yards 67   Springing 0 0 47,883 7,512 0    
11 GSMC Dawson Marketplace   2,944 0 11,776 34,955 Springing 0    
12 GACC 8670 Wilshire   842 0 Springing 17,561 4,374 0    
13 GSMC JW Marriott Nashville   Springing 0 0 Springing Springing 0    
14 CREFI Morgan Stanley Tower   3,128 0 23,462 37,127 9,395 Springing Parking Lease Reserve: Springing; Morgan Stanley Rent Concession Reserve: Springing  
15 JPMCB The Village at Meridian   Springing 0 Springing Springing Springing 0    
16 GSMC Millennium Corporate Park   Springing 0 Springing Springing Springing Springing Microsoft Rollover Reserve  
17 GSMC 711 Fifth Avenue   Springing 0 Springing Springing Springing Springing Downgraded Tenant Reserve  
18 JPMCB Oakland Commons I&II   5,264 0 35,532 64,835 Springing 0    
19 GACC Orlando Technology Park   2,974 0 Springing 27,180 Springing 0    
20 GACC Woodbury Crossing Phase II   1,875 0 0 15,734 2,558 0    
21 CREFI Advanced Energy   Springing 0 Springing 29,339 Springing 0    
22 CREFI Value Store It Miami   999 0 0 17,539 Springing 0    
23 GSMC Willoughby Commons   5,274 0 Springing 21,849 Springing 0    
24 JPMCB Camellia Trace   4,417 0 0 20,452 5,813 0    
25 GACC Dollar General Portfolio   Springing 0 Springing 20,000 945 Springing Lease Sweep Reserve  
25.01 GACC Robinsonville                  
25.02 GACC Saint Mary’s                  
25.03 GACC Alexandria (Carlos)                  
25.04 GACC St. Martinville                  
25.05 GACC Fife Lake                  
25.06 GACC Waubun                  
25.07 GACC Lake Village                  
25.08 GACC New Era                  
25.09 GACC Mooers                  
25.10 GACC Hinckley                  
25.11 GACC Center                  
25.12 GACC Lepanto                  
25.13 GACC Edgemont                  
25.14 GACC Louisa                  
25.15 GACC Prue                  
26 CREFI 9633 Westheimer Road   1,025 0 Springing 20,607 5,825 Springing Roof Replacement Reserve  
27 CREFI 46-50 East 167th Street   331 0 2,760 24,386 2,377 0    
28 CREFI Bridgeport Distribution Center   5,090 0 12,725 21,633 4,301 0    
29 CREFI 303 3rd Street   377 0 1,887 6,527 Springing 0    
30 CREFI 5501 New Utrecht Avenue   353 0 2,652 8,469 1,393 Springing Condominium Assessment Reserve  
31 CREFI Hamden Self Storage   1,414 0 2,820 11,281 4,902 0    
 A-1-19 

 

ANNEX A-1

 

        MONTHLY ESCROW(21)  
        Monthly Capex Monthly Envir. Monthly TI/LC Monthly RE Tax Monthly Ins. Monthly Other Other Monthly  
Loan # Seller(1) Property Name   Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Description ($)  
32 JPMCB Bristol Park   2,333 0 0 10,866 3,772 0    
33 GACC 6450 Industrial   5,424 0 7,075 11,990 2,640 0    
34 CREFI 651 Bushwick Avenue   497 0 801 4,829 1,425 Springing Section 421(a) Reserve  
35 GSMC Grocery Outlet Truckee   264 0 0 Springing 1,976 0    
36 JPMCB Holiday Inn Philadelphia South   7,492 0 0 12,253 Springing 0    
37 CREFI CVS Valley Stream   Springing 0 Springing 10,030 Springing 0    
38 CREFI Deschutes Business Center   1,347 0 2,776 6,366 Springing 0    
39 CREFI The Cove Storage Portfolio   924 0 0 1,951 Springing 0    
39.01 CREFI James Road                  
39.02 CREFI Green Cove Road                  
39.03 CREFI Taylor Lane                  
40 CREFI Scotsman Self Storage   371 0 0 2,307 Springing 0    
                       
 A-1-20 

 

ANNEX A-1

 

      RESERVE CAPS(22)    
                         
        CapEx Envir. TI/LC RE Tax Insur. Debt Service Other   Single
Loan # Seller(1) Property Name    Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)   Tenant
1 JPMCB 410 Tenth Avenue                   No
2 CREFI/GACC MGM Grand & Mandalay Bay                   No
2.01 CREFI/GACC MGM Grand                   No
2.02 CREFI/GACC Mandalay Bay                   No
3 GSMC Phillips Point       6,650,000           No
4 CREFI 141 Livingston                   No
5 JPMCB Pittock Block                   No
6 CREFI/JPMCB The Galleria Office Towers       8,000,000           No
6.01 CREFI/JPMCB Galleria Tower I                   No
6.02 CREFI/JPMCB Galleria Tower II                   No
6.03 CREFI/JPMCB Galleria Financial Center                   No
7 GSMC U.S. Industrial Portfolio VI   894,587   1,789,173           Yes
7.01 GSMC True Value                   Yes
7.02 GSMC Belnick                   Yes
7.03 GSMC Tufco - 3161 South Ridge Road                   Yes
7.04 GSMC Pro Con - 109 Maplewood Drive                   Yes
7.05 GSMC Total Logistics                   Yes
7.06 GSMC Pro Con - 2441 East Glendale Avenue                   Yes
7.07 GSMC Amaray                   Yes
7.08 GSMC Pro Con - 2430 East Glendale Avenue                   Yes
7.09 GSMC Tufco - 1205 Burris Road                   Yes
7.10 GSMC Tufco - 1055 Parkview Road                   Yes
8 CREFI Boca Office Portfolio       3,000,000           No
8.01 CREFI Boardwalk @ 18th                   No
8.02 CREFI Fountains Center                   No
8.03 CREFI City National Park                   No
8.04 CREFI Grove Centre                   No
9 CREFI Gestamp Automocion SLB                   Yes
10 JPMCB 30 Hudson Yards 67                   Yes
11 GSMC Dawson Marketplace       706,540           No
12 GACC 8670 Wilshire   200,000               No
13 GSMC JW Marriott Nashville                   No
14 CREFI Morgan Stanley Tower       2,000,000           No
15 JPMCB The Village at Meridian   126,288   1,683,864           No
16 GSMC Millennium Corporate Park                   No
17 GSMC 711 Fifth Avenue   170,012   1,020,072           No
18 JPMCB Oakland Commons I&II       1,750,000           No
19 GACC Orlando Technology Park       1,000,000 unless the DSCR falls below 1.50x           No
20 GACC Woodbury Crossing Phase II   67,500               No
21 CREFI Advanced Energy   100,000   800,000           Yes
22 CREFI Value Store It Miami   35,955               No
23 GSMC Willoughby Commons   350,000   825,000           No
24 JPMCB Camellia Trace                   No
25 GACC Dollar General Portfolio                   Yes
25.01 GACC Robinsonville                   Yes
25.02 GACC Saint Mary’s                   Yes
25.03 GACC Alexandria (Carlos)                   Yes
25.04 GACC St. Martinville                   Yes
25.05 GACC Fife Lake                   Yes
25.06 GACC Waubun                   Yes
25.07 GACC Lake Village                   Yes
25.08 GACC New Era                   Yes
25.09 GACC Mooers                   Yes
25.10 GACC Hinckley                   Yes
25.11 GACC Center                   Yes
25.12 GACC Lepanto                   Yes
25.13 GACC Edgemont                   Yes
25.14 GACC Louisa                   Yes
25.15 GACC Prue                   Yes
26 CREFI 9633 Westheimer Road   24,600               No
27 CREFI 46-50 East 167th Street       165,600           No
28 CREFI Bridgeport Distribution Center       800,000           No
29 CREFI 303 3rd Street                   No
30 CREFI 5501 New Utrecht Avenue       159,120           No
31 CREFI Hamden Self Storage       338,000           No
 A-1-21 

 

ANNEX A-1

 

        RESERVE CAPS(22)    
        CapEx Envir. TI/LC RE Tax Insur. Debt Service Other   Single
Loan # Seller(1) Property Name    Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)   Tenant
32 JPMCB Bristol Park                   No
33 GACC 6450 Industrial                   Yes
34 CREFI 651 Bushwick Avenue                   No
35 GSMC Grocery Outlet Truckee   9,516               No
36 JPMCB Holiday Inn Philadelphia South                   No
37 CREFI CVS Valley Stream                   Yes
38 CREFI Deschutes Business Center   60,450               No
39 CREFI The Cove Storage Portfolio                   No
39.01 CREFI James Road                   No
39.02 CREFI Green Cove Road                   No
39.03 CREFI Taylor Lane                   No
40 CREFI Scotsman Self Storage                   No
                         
 A-1-22 

 

ANNEX A-1

 

    LARGEST TENANT(4)(23)(24)(25)   2nd LARGEST TENANT(4)(23)(24)(25)
                   
          Lease       Lease
Loan # Seller(1) Property Name Largest Tenant Unit Size Expiration   2nd Largest Tenant Unit Size Expiration
1 JPMCB 410 Tenth Avenue Amazon 335,408 05/31/37   First Republic 211,521 08/31/36
2 CREFI/GACC MGM Grand & Mandalay Bay              
2.01 CREFI/GACC MGM Grand              
2.02 CREFI/GACC Mandalay Bay              
3 GSMC Phillips Point Gunster, Yoakley, Valdes-Fauli 50,800 08/31/24   Akerman, Senterfitt & Eidson 48,678 09/30/28
4 CREFI 141 Livingston City of New York Department of Citywide Administrative Services 206,084 12/26/25   Smith & Livingston Parking 7,568 06/30/27
5 JPMCB Pittock Block LS Networks 15,238 07/31/21   Hennebery Eddy Architects 13,696 07/31/27
6 CREFI/JPMCB The Galleria Office Towers              
6.01 CREFI/JPMCB Galleria Tower I WeWork Companies, Inc. 100,141 11/30/33   Citigroup Technology 49,740 12/31/28
6.02 CREFI/JPMCB Galleria Tower II Quanta Services 56,345 03/31/22   Hoover, Slovacek 49,076 03/31/32
6.03 CREFI/JPMCB Galleria Financial Center Situs Holdings, LLC 18,240 07/31/22   Southwest Risk, LP 12,169 05/31/26
7 GSMC U.S. Industrial Portfolio VI              
7.01 GSMC True Value True Value 1,331,727 02/28/29        
7.02 GSMC Belnick Belnick 477,152 06/01/29        
7.03 GSMC Tufco - 3161 South Ridge Road Tufco 226,900 07/21/37        
7.04 GSMC Pro Con - 109 Maplewood Drive Pro Con 205,320 12/30/30        
7.05 GSMC Total Logistics Total Logistics 86,460 08/31/32        
7.06 GSMC Pro Con - 2441 East Glendale Avenue Pro Con 172,261 12/30/30        
7.07 GSMC Amaray Amaray 194,519 10/31/33        
7.08 GSMC Pro Con - 2430 East Glendale Avenue Pro Con 122,500 12/30/30        
7.09 GSMC Tufco - 1205 Burris Road              
7.10 GSMC Tufco - 1055 Parkview Road Tufco 44,020 07/21/37        
8 CREFI Boca Office Portfolio              
8.01 CREFI Boardwalk @ 18th Women’s Health Partners, LLC 16,662 12/31/27   Carraba’s Tropical Coast 5,921 04/30/23
8.02 CREFI Fountains Center University of Miami 12,987 10/31/25   Madsen, Kneepers & Associates 6,350 12/31/24
8.03 CREFI City National Park Belux LLC (Aka Opus) 17,902 12/31/30   TDL Centers Inc 14,067 07/14/30
8.04 CREFI Grove Centre Soberinves Sober Investments, LLC 10,885 06/30/24   Kabbalah Center 4,500 02/28/26
9 CREFI Gestamp Automocion SLB Gestamp Automocion 637,750 12/31/40        
10 JPMCB 30 Hudson Yards 67 Related Companies L.P. 44,954 02/28/39        
11 GSMC Dawson Marketplace Hobby Lobby 55,000 02/29/32   Burlington 40,232 02/29/28
12 GACC 8670 Wilshire Cedars-Sinai Medical Center 28,831 11/30/26   Specialty Surgical Center of Beverly Hills, L.P. 16,879 07/31/30
13 GSMC JW Marriott Nashville              
14 CREFI Morgan Stanley Tower Morgan Stanley Smith Barney 21,854 04/30/29   Enstar (US) Inc 21,044 03/31/26
15 JPMCB The Village at Meridian Big Al’s 65,913 08/31/27   Village Cinema 55,309 10/31/33
16 GSMC Millennium Corporate Park Microsoft Corp. 479,193 04/30/28   Golder Associates, Inc. 36,965 03/31/24
17 GSMC 711 Fifth Avenue SunTrust Banks 84,516 04/30/24   Allen & Company 70,972 09/30/33
18 JPMCB Oakland Commons I&II Livingston International Tech 35,343 03/31/27   State Farm Mutual Automobile Insurance Company 26,193 12/31/22
19 GACC Orlando Technology Park Priority Healthcare 54,590 08/01/22   FARO Tech 46,481 03/01/25
20 GACC Woodbury Crossing Phase II              
21 CREFI Advanced Energy Advanced Energy Industries, Inc. 115,627 12/31/35        
22 CREFI Value Store It Miami              
23 GSMC Willoughby Commons BJ’s Wholesale Club 109,751 03/28/30   Giant Eagle 77,500 07/31/28
24 JPMCB Camellia Trace              
25 GACC Dollar General Portfolio              
25.01 GACC Robinsonville Dollar General 9,100 05/31/35        
25.02 GACC Saint Mary’s Dollar General 9,100 12/13/35        
25.03 GACC Alexandria (Carlos) Dollar General 9,002 10/31/35        
25.04 GACC St. Martinville Dollar General 9,100 04/30/35        
25.05 GACC Fife Lake Dollar General 9,100 10/31/35        
25.06 GACC Waubun Dollar General 9,100 11/30/35        
25.07 GACC Lake Village Dollar General 10,566 10/31/35        
25.08 GACC New Era Dollar General 9,026 11/30/35        
25.09 GACC Mooers Dollar General 9,026 04/30/35        
25.10 GACC Hinckley Dollar General 9,100 12/31/35        
25.11 GACC Center Dollar General 9,026 11/30/35        
25.12 GACC Lepanto Dollar General 10,640 11/30/35        
25.13 GACC Edgemont Dollar General 9,000 10/31/34        
25.14 GACC Louisa Dollar General 9,100 11/30/34        
25.15 GACC Prue Dollar General 9,026 01/31/35        
26 CREFI 9633 Westheimer Road Swiss International 42,000 01/31/31   Tesla Motors TX, Inc. 40,000 01/31/31
27 CREFI 46-50 East 167th Street CVS Pharmacy 15,770 01/31/34   Rainbow Apparel Companies 8,230 01/31/27
28 CREFI Bridgeport Distribution Center L & B Cartage, Inc. 416,038 11/30/30   Central Warehouse Operations, Inc. 194,770 05/31/22
29 CREFI 303 3rd Street Compass California 8,325 02/28/29   The House Salon 1,968 07/31/26
30 CREFI 5501 New Utrecht Avenue Joseph Oberlander 3,325 02/28/31   H Friedman & Associates CPA 3,325 12/31/30
31 CREFI Hamden Self Storage Creative Kids 25,000 11/30/27   Rent-A-Center 4,800 02/28/22
 A-1-23 

 

ANNEX A-1

 

      LARGEST TENANT(4)(23)(24)(25)   2nd LARGEST TENANT(4)(23)(24)(25)
          Lease       Lease
Loan # Seller(1) Property Name Largest Tenant Unit Size Expiration   2nd Largest Tenant Unit Size Expiration
32 JPMCB Bristol Park              
33 GACC 6450 Industrial Mack Trucks 283,000 08/31/24        
34 CREFI 651 Bushwick Avenue Adrian Fanus Grooming, Inc. 3,024 11/30/29   Ferebe Supplies, LLC 1,900 01/31/26
35 GSMC Grocery Outlet Truckee Grocery Outlet 16,147 06/30/35   Residential Master Lease 1,874 06/24/25
36 JPMCB Holiday Inn Philadelphia South              
37 CREFI CVS Valley Stream CVS Pharmacy 11,352 01/31/31        
38 CREFI Deschutes Business Center Evoke At Cascades, Inc. 4,995 12/31/22   Bob Chaney Service Physics, Inc. 3,181 06/30/21
39 CREFI The Cove Storage Portfolio              
39.01 CREFI James Road              
39.02 CREFI Green Cove Road              
39.03 CREFI Taylor Lane              
40 CREFI Scotsman Self Storage              
                   
 A-1-24 

 

ANNEX A-1

 

      3rd LARGEST TENANT(4)(23)(24)(25)   4th LARGEST TENANT(4)(23)(24)(25)   5th LARGEST TENANT(4)(23)(24)(25)
                             
            Lease       Lease       Lease
Loan # Seller(1) Property Name   3rd Largest Tenant Unit Size Expiration   4th Largest Tenant Unit Size Expiration   5th Largest Tenant Unit Size Expiration
1 JPMCB 410 Tenth Avenue   Related 70,852 10/31/45   Rocky’s Bar & Grill 2,834 12/31/26   Café Maman 1,955 12/31/30
2 CREFI/GACC MGM Grand & Mandalay Bay                        
2.01 CREFI/GACC MGM Grand                        
2.02 CREFI/GACC Mandalay Bay                        
3 GSMC Phillips Point   Affiliated Managers Group (AMG) 38,499 03/31/26   Greenberg Traurig 30,254 11/30/27   Morgan Stanley 26,463 10/31/24
4 CREFI 141 Livingston   AT&T Mobility 0 12/31/23                
5 JPMCB Pittock Block   Sagacity Media Inc. 11,936 03/31/23   Oregon Symphony 10,701 10/31/23   DCI - D’Amato, Conversano, Inc. 7,981 08/31/26
6 CREFI/JPMCB The Galleria Office Towers                        
6.01 CREFI/JPMCB Galleria Tower I   Westlake Management 40,588 08/31/25   BKD, LLP 29,690 06/30/29   Ascende, Inc. 27,511 04/30/22
6.02 CREFI/JPMCB Galleria Tower II   Kane Russell Coleman & Logan PC 25,390 03/31/22   Capgemini U.S. LLC 21,651 01/31/27   Infrastructure Network 15,879 03/31/22
6.03 CREFI/JPMCB Galleria Financial Center   GSA 11,544 02/28/31   Banorte -IXE Securities 10,063 02/29/28   Fusion Learning, Inc 9,536 03/31/25
7 GSMC U.S. Industrial Portfolio VI                        
7.01 GSMC True Value                        
7.02 GSMC Belnick                        
7.03 GSMC Tufco - 3161 South Ridge Road                        
7.04 GSMC Pro Con - 109 Maplewood Drive                        
7.05 GSMC Total Logistics                        
7.06 GSMC Pro Con - 2441 East Glendale Avenue                        
7.07 GSMC Amaray                        
7.08 GSMC Pro Con - 2430 East Glendale Avenue                        
7.09 GSMC Tufco - 1205 Burris Road                        
7.10 GSMC Tufco - 1055 Parkview Road                        
8 CREFI Boca Office Portfolio                        
8.01 CREFI Boardwalk @ 18th   Wild Hair Salon 5,889 11/30/21   Boca Pointe Community Assoc. 5,551 11/30/25   Rooms For Prince & Princess 4,920 08/31/24
8.02 CREFI Fountains Center   Gil Lichtshein 5,987 07/31/26   Salt Academy 5,950 08/31/28   Cohen & Sheinker, MD, PA 5,066 02/28/23
8.03 CREFI City National Park   Hellenic Petroleum LLC 8,381 02/28/25   Harbinger Capital Group 8,281 06/30/21   Revamp Healthcare Partners 7,622 08/31/27
8.04 CREFI Grove Centre   Big Boca Smiles 4,495 11/30/26   Sequoia Insurance 4,371 10/31/24   Skin Apeel, Inc. 3,162 01/31/24
9 CREFI Gestamp Automocion SLB                        
10 JPMCB 30 Hudson Yards 67                        
11 GSMC Dawson Marketplace   One Life Fitness 35,000 12/31/37   Restoration Hardware Outlet 30,000 01/31/28   Marshalls 23,500 03/31/27
12 GACC 8670 Wilshire   Screening Services Group, LLC 3,910 03/31/26   Alexander Café LLC 900 09/30/23        
13 GSMC JW Marriott Nashville                        
14 CREFI Morgan Stanley Tower   DCR Loan Servicing, LLC 13,460 07/31/28   UBS Financial Services, Inc 13,310 09/30/23   Manning & Napier Advisors 10,438 12/31/22
15 JPMCB The Village at Meridian   OpSec Online LLC 40,805 02/28/25   Axiom Fitness 37,699 03/31/24   Boise Co-Op 25,036 11/30/35
16 GSMC Millennium Corporate Park   Quantrarium, LLC 11,798 07/31/24   People Tech Group 7,992 08/31/24   CBRE Management Office 1,098 12/31/39
17 GSMC 711 Fifth Avenue   Ralph Lauren 38,638 06/30/29   Loro Piana USA 24,388 08/31/25   Sandler Capital 17,200 06/30/27
18 JPMCB Oakland Commons I&II   Moncur Design, Inc. 13,833 03/31/26   Aerotek, Inc. 13,611 10/31/21   Grede Holdings LLC 13,312 12/31/25
19 GACC Orlando Technology Park   Metric Engineering 26,096 04/01/26   AOE 21,174 11/01/27   Carestream 19,450 02/01/26
20 GACC Woodbury Crossing Phase II                        
21 CREFI Advanced Energy                        
22 CREFI Value Store It Miami                        
23 GSMC Willoughby Commons   Regal Cinemas 66,963 10/31/32   PetSmart 26,259 06/30/23   Office Max 23,806 07/31/28
24 JPMCB Camellia Trace                        
25 GACC Dollar General Portfolio                        
25.01 GACC Robinsonville                        
25.02 GACC Saint Mary’s                        
25.03 GACC Alexandria (Carlos)                        
25.04 GACC St. Martinville                        
25.05 GACC Fife Lake                        
25.06 GACC Waubun                        
25.07 GACC Lake Village                        
25.08 GACC New Era                        
25.09 GACC Mooers                        
25.10 GACC Hinckley                        
25.11 GACC Center                        
25.12 GACC Lepanto                        
25.13 GACC Edgemont                        
25.14 GACC Louisa                        
25.15 GACC Prue                        
26 CREFI 9633 Westheimer Road                        
27 CREFI 46-50 East 167th Street   Crab Du Jour 2,500 01/31/33                
28 CREFI Bridgeport Distribution Center                        
29 CREFI 303 3rd Street   Jay Birds LBX 1,678 07/31/30   Mahkin Thai & Sushi 1,666 12/31/25   Hummus Bean 1,458 06/30/26
30 CREFI 5501 New Utrecht Avenue   Royal Bag 3,325 12/31/30   E&D Childrens Center 3,325 12/31/30   Care Design NY 3,325 11/30/30
31 CREFI Hamden Self Storage   Subway 3,000 05/31/25   Hull’s Art Supply 1,000 04/22/21        
 A-1-25 

 

ANNEX A-1

 

        3rd LARGEST TENANT(4)(23)(24)(25)   4th LARGEST TENANT(4)(23)(24)(25)   5th LARGEST TENANT(4)(23)(24)(25)
            Lease       Lease       Lease
Loan # Seller(1) Property Name   3rd Largest Tenant Unit Size Expiration   4th Largest Tenant Unit Size Expiration   5th Largest Tenant Unit Size Expiration
32 JPMCB Bristol Park                        
33 GACC 6450 Industrial                        
34 CREFI 651 Bushwick Avenue   Arline Almonte 760 01/31/23   Charlene New York LLC 470 01/31/22   Briana Rolan 250 01/31/22
35 GSMC Grocery Outlet Truckee                        
36 JPMCB Holiday Inn Philadelphia South                        
37 CREFI CVS Valley Stream                        
38 CREFI Deschutes Business Center   Matt deMontegre / High Desert 3,140 01/24/24   Jazzercise Bend OR Fitness Center 2,675 02/28/22   Nashelle Jewelry dba Nashelle, LLC 2,252 04/30/24
39 CREFI The Cove Storage Portfolio                        
39.01 CREFI James Road                        
39.02 CREFI Green Cove Road                        
39.03 CREFI Taylor Lane                        
40 CREFI Scotsman Self Storage                        
                             
 A-1-26 

 

ANNEX A-1

 

           
        Loan  
Loan # Seller(1) Property Name   Purpose Principal / Carveout Guarantor(26)
1 JPMCB 410 Tenth Avenue   Acquisition Mark Karasick, Michael Silberberg
2 CREFI/GACC MGM Grand & Mandalay Bay   Acquisition BREIT Operating Partnership L.P., MGM Growth Properties Operating Partnership LP
2.01 CREFI/GACC MGM Grand      
2.02 CREFI/GACC Mandalay Bay      
3 GSMC Phillips Point   Acquisition The Related Companies, Inc.
4 CREFI 141 Livingston   Refinance Clipper Realty Inc., Clipper Realty L.P.
5 JPMCB Pittock Block   Acquisition 1547 Data Center Real Estate Fund II, L.P.
6 CREFI/JPMCB The Galleria Office Towers   Refinance Azrieli Group Ltd.
6.01 CREFI/JPMCB Galleria Tower I      
6.02 CREFI/JPMCB Galleria Tower II      
6.03 CREFI/JPMCB Galleria Financial Center      
7 GSMC U.S. Industrial Portfolio VI   Refinance BIG STNL II LLC
7.01 GSMC True Value      
7.02 GSMC Belnick      
7.03 GSMC Tufco - 3161 South Ridge Road      
7.04 GSMC Pro Con - 109 Maplewood Drive      
7.05 GSMC Total Logistics      
7.06 GSMC Pro Con - 2441 East Glendale Avenue      
7.07 GSMC Amaray      
7.08 GSMC Pro Con - 2430 East Glendale Avenue      
7.09 GSMC Tufco - 1205 Burris Road      
7.10 GSMC Tufco - 1055 Parkview Road      
8 CREFI Boca Office Portfolio   Recapitalization; Acquisition Carlos Ulloa, Debra Corchia, Daniel Statlander, James Caprio
8.01 CREFI Boardwalk @ 18th      
8.02 CREFI Fountains Center      
8.03 CREFI City National Park      
8.04 CREFI Grove Centre      
9 CREFI Gestamp Automocion SLB   Acquisition AG Net Lease IV Corp., AG Net Lease IV (Q) Corp., AG Net Lease Realty Fund IV Investments (H-1), L.P.
10 JPMCB 30 Hudson Yards 67   Refinance Massa Nova GmbH
11 GSMC Dawson Marketplace   Recapitalization J. Kenneth Dunn
12 GACC 8670 Wilshire   Refinance Andrew Brooks, Randhir Tuli
13 GSMC JW Marriott Nashville   Refinance Jacquelyn Soffer
14 CREFI Morgan Stanley Tower   Refinance Lawrence Feldman
15 JPMCB The Village at Meridian   Recapitalization None
16 GSMC Millennium Corporate Park   Acquisition Vanbarton Group LLC
17 GSMC 711 Fifth Avenue   Refinance Bayerische Versorgungskammer, Deutsche Finance America LLC, DF Deutsche Finance Holding AG, Hessen Lawyers Pension Fund
18 JPMCB Oakland Commons I&II   Refinance The Farbman Family #3, LLC
19 GACC Orlando Technology Park   Acquisition TCM Technology Park LLC, Somerset Real Estate Opportunity Fund II, L.P., Benjamin M. Adams
20 GACC Woodbury Crossing Phase II   Refinance Ronald D. Newman, Leonard Brandon Smith
21 CREFI Advanced Energy   Acquisition Louis J. Rogers
22 CREFI Value Store It Miami   Refinance Todd A. Ruderman
23 GSMC Willoughby Commons   Refinance Mitchell C. Schneider
24 JPMCB Camellia Trace   Refinance Anthony Kassis, Gary Shahid, Blevins Family Properties, LLC
25 GACC Dollar General Portfolio   Acquisition William O. Fuller, Martin A. Pinilla II
25.01 GACC Robinsonville      
25.02 GACC Saint Mary’s      
25.03 GACC Alexandria (Carlos)      
25.04 GACC St. Martinville      
25.05 GACC Fife Lake      
25.06 GACC Waubun      
25.07 GACC Lake Village      
25.08 GACC New Era      
25.09 GACC Mooers      
25.10 GACC Hinckley      
25.11 GACC Center      
25.12 GACC Lepanto      
25.13 GACC Edgemont      
25.14 GACC Louisa      
25.15 GACC Prue      
26 CREFI 9633 Westheimer Road   Refinance Aria Mehrabi
27 CREFI 46-50 East 167th Street   Refinance Shmuel Kairy
28 CREFI Bridgeport Distribution Center   Acquisition Bob Yari
29 CREFI 303 3rd Street   Refinance Jayne M. Flinn, Michael A. Saltman
30 CREFI 5501 New Utrecht Avenue   Refinance Binyamin Beitel
31 CREFI Hamden Self Storage   Refinance Ira Schwartz
 A-1-27 

 

ANNEX A-1

 

           
        Loan  
Loan # Seller(1) Property Name   Purpose Principal / Carveout Guarantor(26)
32 JPMCB Bristol Park   Refinance Anthony Kassis, Gary Shahid, Blevins Family Properties, LLC
33 GACC 6450 Industrial   Acquisition Mariano Weil, Federico Weil, Federico Wilensky
34 CREFI 651 Bushwick Avenue   Refinance Albert Farhi, David Farhi, Leon Farhi
35 GSMC Grocery Outlet Truckee   Acquisition Mordecai (“Max”) Schireson
36 JPMCB Holiday Inn Philadelphia South   Refinance William B. McNamara
37 CREFI CVS Valley Stream   Recapitalization Geoffrey S. Serota, Eric Oppenheimer Credit Shelter Trust, Karen Serota
38 CREFI Deschutes Business Center   Refinance Kenneth Levy, Kenneth Levy, As Trustee of the Levy Family Trust Dated February 18, 1983, as Amended
39 CREFI The Cove Storage Portfolio   Acquisition George Thacker, Lawrence Charles Kaplan, Richard Schontz
39.01 CREFI James Road      
39.02 CREFI Green Cove Road      
39.03 CREFI Taylor Lane      
40 CREFI Scotsman Self Storage   Acquisition George Thacker, Lawrence Charles Kaplan, Richard Schontz
           
 A-1-28 

 

ANNEX A-1

 

          Pari Passu Debt
              Pari Passu Pari Passu Pari Passu Total Cut-off
      Lockbox Lockbox Cash Pari Passu Note Control Piece  In Trust Piece Non Trust Date Pari
Loan # Seller(1) Property Name  (Y/N)  Type(27) Management(27) (Y/N)  (Y/N) Cut-Off Balance Cut-Off Balance Passu Debt
1 JPMCB 410 Tenth Avenue Yes Hard In Place Yes No 80,000,000 300,000,000 380,000,000
2 CREFI/GACC MGM Grand & Mandalay Bay Yes Hard Springing Yes No 79,985,667 1,554,214,333 1,634,200,000
2.01 CREFI/GACC MGM Grand                
2.02 CREFI/GACC Mandalay Bay                
3 GSMC Phillips Point Yes Hard Springing Yes No 75,000,000 123,520,000 198,520,000
4 CREFI 141 Livingston Yes Springing Springing Yes Yes 75,000,000 25,000,000 100,000,000
5 JPMCB Pittock Block Yes Hard Springing Yes No 66,000,000 75,000,000 141,000,000
6 CREFI/JPMCB The Galleria Office Towers Yes Hard Springing Yes Yes 65,000,000 25,000,000 90,000,000
6.01 CREFI/JPMCB Galleria Tower I                
6.02 CREFI/JPMCB Galleria Tower II                
6.03 CREFI/JPMCB Galleria Financial Center                
7 GSMC U.S. Industrial Portfolio VI Yes Hard Springing Yes Yes 60,000,000 21,000,000 81,000,000
7.01 GSMC True Value                
7.02 GSMC Belnick                
7.03 GSMC Tufco - 3161 South Ridge Road                
7.04 GSMC Pro Con - 109 Maplewood Drive                
7.05 GSMC Total Logistics                
7.06 GSMC Pro Con - 2441 East Glendale Avenue                
7.07 GSMC Amaray                
7.08 GSMC Pro Con - 2430 East Glendale Avenue                
7.09 GSMC Tufco - 1205 Burris Road                
7.10 GSMC Tufco - 1055 Parkview Road                
8 CREFI Boca Office Portfolio Yes Hard Springing Yes Yes 50,000,000 49,000,000 99,000,000
8.01 CREFI Boardwalk @ 18th                
8.02 CREFI Fountains Center                
8.03 CREFI City National Park                
8.04 CREFI Grove Centre                
9 CREFI Gestamp Automocion SLB Yes Hard Springing No NAP NAP NAP NAP
10 JPMCB 30 Hudson Yards 67 Yes Hard Springing Yes Yes 45,000,000 26,000,000 71,000,000
11 GSMC Dawson Marketplace Yes Springing Springing No NAP NAP NAP NAP
12 GACC 8670 Wilshire Yes Hard Springing No NAP NAP NAP NAP
13 GSMC JW Marriott Nashville Yes Hard Springing Yes No 35,000,000 150,000,000 185,000,000
14 CREFI Morgan Stanley Tower Yes Hard Springing No NAP NAP NAP NAP
15 JPMCB The Village at Meridian Yes Hard Springing Yes No 30,995,000 35,000,000 65,995,000
16 GSMC Millennium Corporate Park Yes Hard Springing Yes No 27,000,000 105,000,000 132,000,000
17 GSMC 711 Fifth Avenue Yes Hard Springing Yes No 26,500,000 518,500,000 545,000,000
18 JPMCB Oakland Commons I&II Yes Hard Springing No NAP NAP NAP NAP
19 GACC Orlando Technology Park Yes Hard Springing No NAP NAP NAP NAP
20 GACC Woodbury Crossing Phase II Yes Hard In Place No NAP NAP NAP NAP
21 CREFI Advanced Energy Yes Hard Springing No NAP NAP NAP NAP
22 CREFI Value Store It Miami Yes Springing Springing No NAP NAP NAP NAP
23 GSMC Willoughby Commons Yes Springing Springing Yes No 16,950,000 20,000,000 36,950,000
24 JPMCB Camellia Trace Yes Soft Springing No NAP NAP NAP NAP
25 GACC Dollar General Portfolio Yes Springing Springing No NAP NAP NAP NAP
25.01 GACC Robinsonville                
25.02 GACC Saint Mary’s                
25.03 GACC Alexandria (Carlos)                
25.04 GACC St. Martinville                
25.05 GACC Fife Lake                
25.06 GACC Waubun                
25.07 GACC Lake Village                
25.08 GACC New Era                
25.09 GACC Mooers                
25.10 GACC Hinckley                
25.11 GACC Center                
25.12 GACC Lepanto                
25.13 GACC Edgemont                
25.14 GACC Louisa                
25.15 GACC Prue                
26 CREFI 9633 Westheimer Road Yes Springing Springing No NAP NAP NAP NAP
27 CREFI 46-50 East 167th Street Yes Springing Springing No NAP NAP NAP NAP
28 CREFI Bridgeport Distribution Center Yes Hard Springing No NAP NAP NAP NAP
29 CREFI 303 3rd Street Yes Hard Springing No NAP NAP NAP NAP
30 CREFI 5501 New Utrecht Avenue Yes Springing Springing No NAP NAP NAP NAP
31 CREFI Hamden Self Storage Yes Springing Springing No NAP NAP NAP NAP
 A-1-29 

 

ANNEX A-1

 

            Pari Passu Debt
              Pari Passu Pari Passu Pari Passu Total Cut-off
      Lockbox Lockbox Cash Pari Passu Note Control Piece  In Trust Piece Non Trust Date Pari
Loan # Seller(1) Property Name  (Y/N)  Type(27) Management(27) (Y/N)  (Y/N) Cut-Off Balance Cut-Off Balance Passu Debt
32 JPMCB Bristol Park Yes Soft Springing No NAP NAP NAP NAP
33 GACC 6450 Industrial Yes Hard Springing No NAP NAP NAP NAP
34 CREFI 651 Bushwick Avenue Yes Soft Springing No NAP NAP NAP NAP
35 GSMC Grocery Outlet Truckee Yes Hard (Commercial) / Soft (Residential) Springing No NAP NAP NAP NAP
36 JPMCB Holiday Inn Philadelphia South Yes Springing Springing No NAP NAP NAP NAP
37 CREFI CVS Valley Stream Yes Springing Springing No NAP NAP NAP NAP
38 CREFI Deschutes Business Center Yes Springing Springing No NAP NAP NAP NAP
39 CREFI The Cove Storage Portfolio Yes Springing Springing No NAP NAP NAP NAP
39.01 CREFI James Road                
39.02 CREFI Green Cove Road                
39.03 CREFI Taylor Lane                
40 CREFI Scotsman Self Storage Yes Springing Springing No NAP NAP NAP NAP
                     
 A-1-30 

 

ANNEX A-1

 

      Additional Debt   Total Debt
              Additional       Total Debt   Total Debt
        Addit Debt Addit Debt Additional Debt Cut off Additional Debt   Total Debt  UW NCF Total Debt  UW NOI
Loan # Seller(1) Property Name   Permitted (Y/N)(28)  Exist (Y/N)(28) Debt Type(s) Date Balance Interest Rate    Cut-off Balance  DSCR Current LTV %  Debt Yield %
1 JPMCB 410 Tenth Avenue   No Yes B-Note/Mezzanine Loans 325,000,000 3.58598   705,000,000 2.25 73.8% 7.0%
2 CREFI/GACC MGM Grand & Mandalay Bay   Yes Yes B-Notes (804,400,000)/C-Notes (561,400,000)/Permitted Mezzanine 1,365,800,000 3.55800   3,000,000,000 2.70 65.2% 9.7%
2.01 CREFI/GACC MGM Grand                 2.70 65.2% 9.7%
2.02 CREFI/GACC Mandalay Bay                 2.70 65.2% 9.7%
3 GSMC Phillips Point   No Yes Mezzanine Loan 30,540,000 7.00000   229,060,000 2.10 79.3% 8.4%
4 CREFI 141 Livingston   No No NAP NAP NAP   100,000,000 2.52 54.9% 8.9%
5 JPMCB Pittock Block   Yes Yes B-Note/Permitted Mezzanine 22,470,000 5.85000   163,470,000 1.95 49.7% 7.7%
6 CREFI/JPMCB The Galleria Office Towers   No No NAP NAP NAP   90,000,000 1.71 48.6% 12.6%
6.01 CREFI/JPMCB Galleria Tower I                 1.71 48.6% 12.6%
6.02 CREFI/JPMCB Galleria Tower II                 1.71 48.6% 12.6%
6.03 CREFI/JPMCB Galleria Financial Center                 1.71 48.6% 12.6%
7 GSMC U.S. Industrial Portfolio VI   Yes No Permitted Mezzanine NAP NAP   81,000,000 2.56 59.3% 10.7%
7.01 GSMC True Value                 2.56 59.3% 10.7%
7.02 GSMC Belnick                 2.56 59.3% 10.7%
7.03 GSMC Tufco - 3161 South Ridge Road                 2.56 59.3% 10.7%
7.04 GSMC Pro Con - 109 Maplewood Drive                 2.56 59.3% 10.7%
7.05 GSMC Total Logistics                 2.56 59.3% 10.7%
7.06 GSMC Pro Con - 2441 East Glendale Avenue                 2.56 59.3% 10.7%
7.07 GSMC Amaray                 2.56 59.3% 10.7%
7.08 GSMC Pro Con - 2430 East Glendale Avenue                 2.56 59.3% 10.7%
7.09 GSMC Tufco - 1205 Burris Road                 2.56 59.3% 10.7%
7.10 GSMC Tufco - 1055 Parkview Road                 2.56 59.3% 10.7%
8 CREFI Boca Office Portfolio   No No NAP NAP NAP   99,000,000 2.46 63.5% 10.6%
8.01 CREFI Boardwalk @ 18th                 2.46 63.5% 10.6%
8.02 CREFI Fountains Center                 2.46 63.5% 10.6%
8.03 CREFI City National Park                 2.46 63.5% 10.6%
8.04 CREFI Grove Centre                 2.46 63.5% 10.6%
9 CREFI Gestamp Automocion SLB   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
10 JPMCB 30 Hudson Yards 67   No No NAP NAP NAP   71,000,000 1.92 64.5% 6.6%
11 GSMC Dawson Marketplace   No No NAP NAP NAP   NAP NAP NAP NAP
12 GACC 8670 Wilshire   No No NAP NAP NAP   NAP NAP NAP NAP
13 GSMC JW Marriott Nashville   No No NAP NAP NAP   185,000,000 4.17 61.5% 15.3%
14 CREFI Morgan Stanley Tower   Yes No Permitted Mezzanine/Preferred Equity NAP NAP   NAP NAP NAP NAP
15 JPMCB The Village at Meridian   No No NAP NAP NAP   65,995,000 5.14 33.5% 19.1%
16 GSMC Millennium Corporate Park   No No NAP NAP NAP   132,000,000 3.13 60.9% 10.0%
17 GSMC 711 Fifth Avenue   Yes No Permitted Mezzanine NAP NAP   545,000,000 2.90 54.5% 9.4%
18 JPMCB Oakland Commons I&II   No No NAP NAP NAP   NAP NAP NAP NAP
19 GACC Orlando Technology Park   No No NAP NAP NAP   NAP NAP NAP NAP
20 GACC Woodbury Crossing Phase II   No Yes Mezzanine Loan 3,120,000 12.00000   23,500,000 1.37 71.6% 7.5%
21 CREFI Advanced Energy   No No NAP NAP NAP   NAP NAP NAP NAP
22 CREFI Value Store It Miami   No No NAP NAP NAP   NAP NAP NAP NAP
23 GSMC Willoughby Commons   No No NAP NAP NAP   36,950,000 1.55 71.5% 9.4%
24 JPMCB Camellia Trace   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
25 GACC Dollar General Portfolio   No No NAP NAP NAP   NAP NAP NAP NAP
25.01 GACC Robinsonville                 NAP NAP NAP
25.02 GACC Saint Mary’s                 NAP NAP NAP
25.03 GACC Alexandria (Carlos)                 NAP NAP NAP
25.04 GACC St. Martinville                 NAP NAP NAP
25.05 GACC Fife Lake                 NAP NAP NAP
25.06 GACC Waubun                 NAP NAP NAP
25.07 GACC Lake Village                 NAP NAP NAP
25.08 GACC New Era                 NAP NAP NAP
25.09 GACC Mooers                 NAP NAP NAP
25.10 GACC Hinckley                 NAP NAP NAP
25.11 GACC Center                 NAP NAP NAP
25.12 GACC Lepanto                 NAP NAP NAP
25.13 GACC Edgemont                 NAP NAP NAP
25.14 GACC Louisa                 NAP NAP NAP
25.15 GACC Prue                 NAP NAP NAP
26 CREFI 9633 Westheimer Road   No No NAP NAP NAP   NAP NAP NAP NAP
27 CREFI 46-50 East 167th Street   No No NAP NAP NAP   NAP NAP NAP NAP
28 CREFI Bridgeport Distribution Center   No No NAP NAP NAP   NAP NAP NAP NAP
29 CREFI 303 3rd Street   No No NAP NAP NAP   NAP NAP NAP NAP
30 CREFI 5501 New Utrecht Avenue   No No NAP NAP NAP   NAP NAP NAP NAP
31 CREFI Hamden Self Storage   No No NAP NAP NAP   NAP NAP NAP NAP
 A-1-31 

 

ANNEX A-1

 

        Additional Debt   Total Debt
              Additional       Total Debt   Total Debt
        Addit Debt Addit Debt Additional Debt Cut off Additional Debt   Total Debt  UW NCF Total Debt  UW NOI
Loan # Seller(1) Property Name   Permitted (Y/N)(28)  Exist (Y/N)(28) Debt Type(s) Date Balance Interest Rate    Cut-off Balance  DSCR Current LTV %  Debt Yield %
32 JPMCB Bristol Park   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
33 GACC 6450 Industrial   No No NAP NAP NAP   NAP NAP NAP NAP
34 CREFI 651 Bushwick Avenue   No No NAP NAP NAP   NAP NAP NAP NAP
35 GSMC Grocery Outlet Truckee   No No NAP NAP NAP   NAP NAP NAP NAP
36 JPMCB Holiday Inn Philadelphia South   No No NAP NAP NAP   NAP NAP NAP NAP
37 CREFI CVS Valley Stream   No No NAP NAP NAP   NAP NAP NAP NAP
38 CREFI Deschutes Business Center   No No NAP NAP NAP   NAP NAP NAP NAP
39 CREFI The Cove Storage Portfolio   No No NAP NAP NAP   NAP NAP NAP NAP
39.01 CREFI James Road                 NAP NAP NAP
39.02 CREFI Green Cove Road                 NAP NAP NAP
39.03 CREFI Taylor Lane                 NAP NAP NAP
40 CREFI Scotsman Self Storage   No No NAP NAP NAP   NAP NAP NAP NAP
                           
 A-1-32 

 

ANNEX A-1

 

        HOTEL OPERATING STATISTICS  
                                         
          2017 2017 2017 2018 2018 2018 2019 2019 2019 Most Recent Most Recent Most Recent UW UW UW  
Loan # Seller(1) Property Name      Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($) Occupancy %  ADR ($)  RevPAR ($) Loan #
1 JPMCB 410 Tenth Avenue                                   1
2 CREFI/GACC MGM Grand & Mandalay Bay     91.0% 193.58 176.24 91.5% 192.62 176.18 92.1% 196.52 180.94 71.4% 187.46 133.76 92.1% 196.52 180.94 2
2.01 CREFI/GACC MGM Grand     92.1% 181.76 167.36 92.7% 182.10 168.76 91.4% 190.29 173.85 68.5% 184.50 126.33 91.4% 190.29 173.85 2.01
2.02 CREFI/GACC Mandalay Bay     90.0% 206.28 185.57 90.2% 203.96 183.96 92.8% 202.98 188.40 74.8% 190.71 142.69 92.8% 202.98 188.40 2.02
3 GSMC Phillips Point                                   3
4 CREFI 141 Livingston                                   4
5 JPMCB Pittock Block                                   5
6 CREFI/JPMCB The Galleria Office Towers                                   6
6.01 CREFI/JPMCB Galleria Tower I                                   6.01
6.02 CREFI/JPMCB Galleria Tower II                                   6.02
6.03 CREFI/JPMCB Galleria Financial Center                                   6.03
7 GSMC U.S. Industrial Portfolio VI                                   7
7.01 GSMC True Value                                   7.01
7.02 GSMC Belnick                                   7.02
7.03 GSMC Tufco - 3161 South Ridge Road                                   7.03
7.04 GSMC Pro Con - 109 Maplewood Drive                                   7.04
7.05 GSMC Total Logistics                                   7.05
7.06 GSMC Pro Con - 2441 East Glendale Avenue                                   7.06
7.07 GSMC Amaray                                   7.07
7.08 GSMC Pro Con - 2430 East Glendale Avenue                                   7.08
7.09 GSMC Tufco - 1205 Burris Road                                   7.09
7.10 GSMC Tufco - 1055 Parkview Road                                   7.10
8 CREFI Boca Office Portfolio                                   8
8.01 CREFI Boardwalk @ 18th                                   8.01
8.02 CREFI Fountains Center                                   8.02
8.03 CREFI City National Park                                   8.03
8.04 CREFI Grove Centre                                   8.04
9 CREFI Gestamp Automocion SLB                                   9
10 JPMCB 30 Hudson Yards 67                                   10
11 GSMC Dawson Marketplace                                   11
12 GACC 8670 Wilshire                                   12
13 GSMC JW Marriott Nashville                 85.5% 294.74 251.86 44.1% 277.42 122.29 85.8% 295.53 253.69 13
14 CREFI Morgan Stanley Tower                                   14
15 JPMCB The Village at Meridian                                   15
16 GSMC Millennium Corporate Park                                   16
17 GSMC 711 Fifth Avenue                                   17
18 JPMCB Oakland Commons I&II                                   18
19 GACC Orlando Technology Park                                   19
20 GACC Woodbury Crossing Phase II                                   20
21 CREFI Advanced Energy                                   21
22 CREFI Value Store It Miami                                   22
23 GSMC Willoughby Commons                                   23
24 JPMCB Camellia Trace                                   24
25 GACC Dollar General Portfolio                                   25
25.01 GACC Robinsonville                                   25.01
25.02 GACC Saint Mary’s                                   25.02
25.03 GACC Alexandria (Carlos)                                   25.03
25.04 GACC St. Martinville                                   25.04
25.05 GACC Fife Lake                                   25.05
25.06 GACC Waubun                                   25.06
25.07 GACC Lake Village                                   25.07
25.08 GACC New Era                                   25.08
25.09 GACC Mooers                                   25.09
25.10 GACC Hinckley                                   25.10
25.11 GACC Center                                   25.11
25.12 GACC Lepanto                                   25.12
25.13 GACC Edgemont                                   25.13
25.14 GACC Louisa                                   25.14
25.15 GACC Prue                                   25.15
26 CREFI 9633 Westheimer Road                                   26
27 CREFI 46-50 East 167th Street                                   27
28 CREFI Bridgeport Distribution Center                                   28
29 CREFI 303 3rd Street                                   29
30 CREFI 5501 New Utrecht Avenue                                   30
31 CREFI Hamden Self Storage                                   31
 A-1-33 

 

ANNEX A-1

 

          HOTEL OPERATING STATISTICS  
          2017 2017 2017 2018 2018 2018 2019 2019 2019 Most Recent Most Recent Most Recent UW UW UW  
Loan # Seller(1) Property Name      Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($) Occupancy %  ADR ($)  RevPAR ($) Loan #
32 JPMCB Bristol Park                                   32
33 GACC 6450 Industrial                                   33
34 CREFI 651 Bushwick Avenue                                   34
35 GSMC Grocery Outlet Truckee                                   35
36 JPMCB Holiday Inn Philadelphia South     57.6% 108.25 62.35 59.8% 106.47 63.69 57.2% 94.42 54.05 44.8% 89.72 40.21 59.8% 106.47 63.69 36
37 CREFI CVS Valley Stream                                   37
38 CREFI Deschutes Business Center                                   38
39 CREFI The Cove Storage Portfolio                                   39
39.01 CREFI James Road                                   39.01
39.02 CREFI Green Cove Road                                   39.02
39.03 CREFI Taylor Lane                                   39.03
40 CREFI Scotsman Self Storage                                   40
 A-1-34 

 

Footnotes to Annex A-1
   
(1) “JPMCB” denotes JPMorgan Chase Bank, National Association, as Mortgage Loan Seller; “GACC” denotes German American Capital Corporation or one of its affiliates, as Mortgage Loan Seller; “CREFI” denotes Citi Real Estate Funding Inc. or one of its affiliates, as Mortgage Loan Seller; and “GSMC” denotes Goldman Sachs Mortgage Company, or one of its affiliates, as Mortgage Loan Seller.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the mortgage loan is part of a whole loan that was co–originated by Citi Real Estate Funding Inc., Barclays Capital Real Estate Inc., Deutsche Bank AG, acting through its New York Branch and Société Générale Financial Corporation.

With respect to Loan No. 6, The Galleria Office Towers, the mortgage loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and JPMorgan Chase Bank, National Association.

With respect to Loan No. 8, the Boca Office Portfolio, the mortgage loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and Bank of America, N.A.

With respect to Loan No. 17, 711 Fifth Avenue, the mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA and Bank of America, N.A.
   
(2) With respect to Loan No. 1, 410 Tenth Avenue, the mortgaged property includes five retail tenants that together consist of 4.4% of the net rentable area.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, each of the related mortgaged properties consist of a resort and casino and, as of the trailing twelve months ending September 30, 2020 (i) with respect to the MGM Grand Mortgaged Property, approximately 27.0% of the revenues were from hotel rooms, approximately 23.1% of the revenues were from food and beverage sales, approximately 26.9% of the revenues were from gaming, and approximately 23.1% of the revenues were from other sources and (ii) with respect to the Mandalay Bay Mortgaged Property, approximately 34.0% of the revenues were from hotel rooms, approximately 26.5% of the revenues were from food and beverage sales, approximately 17.5% of the revenues were from gaming, and approximately 22.0% of the revenues were from other sources.

With respect to Loan No. 5, Pittock Block, the mortgaged property consists of 191,284 square feet of office space (approximately 64.3% of net rentable area), 81,906 square feet of colocation, data center and Meet-Me-Room space (27.5% of net rentable area), 19,981 square feet of retail space (6.7% of net rentable area), 3,831 square feet of storage space (1.3% of net rentable area), and 696 square feet of roof space (0.2% of net rentable area).

With respect to Loan No. 12, 8670 Wilshire, the mortgaged property consists of 45,710 square feet of medical office space (90.5% of net rentable area), and 4,810 square feet of retail space (9.5% of net rentable area).

With respect to Loan No. 17, 711 Fifth Avenue, the mortgaged property includes 286,226 square feet of office space, representing approximately 84.2% of the net rentable area, and 53,798 square feet of retail space, representing approximately 15.8% of the net rentable area.

With respect to Loan No. 19, Orlando Technology Park, the mortgaged property consists of 121,974 square feet of flex industrial space (41.0% of net rentable area) and 175,412 square feet of office space (59.0% of net rentable area).

With respect to Loan No. 35, Grocery Outlet Truckee, the mortgaged property includes 16,147 square feet of retail space, representing approximately 89.6% of the net rentable area, and three residential units (1,874 total square feet), representing approximately 10.4% of the net rentable area.
   
(3) Certain of the mortgage loans include parcels ground leased to tenants in the calculation of the total square footage and the occupancy of the mortgaged property.

With respect to Loan No. 14, Morgan Stanley Tower, the borrower, Second Avenue Tower Limited Partnership, is the ground lessee of 174 of the 370 parking spaces required for zoning compliance at the mortgaged property. The leasehold interest is owned by the City of St. Petersburg. The term of the ground lease expires on July 30, 2059.
   
(4) In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but have not yet commenced paying rent and/or are not in occupancy. UW Revenues ($), UW NOI ($) and UW NCF ($) are generally calculated by the Mortgage Loan Seller in accordance with its underwriting guidelines. UW NOI ($) and UW NCF ($) may include contractual or market rent escalations and, in the case of certain tenants, may be
 A-1-35 

 

  based on the average rent paid by the tenant through either the term of the related lease or the mortgage loan. Please see “Description of the Mortgage Pool—Certain Calculations and Definitions” for additional information.

With respect to Loan No. 1, 410 Tenth Avenue, each of the Largest Tenant and the 2nd Largest Tenant, Amazon and First Republic, has executed its lease but has not yet taken occupancy of its leased premises or commenced paying rent. Amazon is expected to (a) with respect to the floors 9 through 14 and 16 through 20, take possession of such space by March 25, 2021, and commence paying rent in June 2022; and (b) with respect to the 15th floor, upon completion of pre-commencement work with respect to the related space, take possession by May 1, 2021 and commence paying rent in August 2022. First Republic is expected to (a) take possession of the entirety of its space by April 2021, at which point all pre-commencement and turnkey work is projected to have been completed and (b) commence paying rent in (i) August 2021 with respect to floors 4 through 6, (ii) October 2021 with respect to floors 2 and 3, (iii) September 2021 with respect to the ground floor retail space and (iv) May 2022 with respect to the below grade space. At origination, approximately $57.7 million was reserved for outstanding gap rent and free rent, in excess of projected amounts based on the estimated lease commencement dates.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, each of the related mortgaged properties consist of a resort and casino and, as of the trailing twelve months ending September 30, 2020 (i) with respect to the MGM Grand Mortgaged Property, approximately 27.0% of the  revenues were from hotel rooms, approximately 23.1% of the revenues were from food and beverage sales, approximately 26.9% of the revenues were from gaming, and approximately 23.1% of the revenues were from other sources and (ii) with respect to the Mandalay Bay Mortgaged Property, approximately 34.0% of the revenues were from hotel rooms, approximately 26.5% of the revenues were from food and beverage sales, approximately 17.5% of the revenues were from gaming, and approximately 22.0% of the revenues were from other sources.

With respect to Loan No. 3, Phillips Point, the 3rd Largest Tenant, Affiliated Managers Group (AMG), representing approximately 8.6% of the net rentable area, is dark but paying rent with respect to 15,176 square feet of its space. We cannot assure you that Affiliated Managers Group (AMG) will take occupancy as expected or at all.

With respect to Loan No. 7.09, U.S. Industrial Portfolio VI – Tufco - 1205 Burris Road, the sole tenant, Tufco, is currently dark. Tufco is expected to continue paying full rent until the end of its lease term in July 2037. We cannot assure you that Tufco will continue paying rent as expected or at all.
 
With respect to Loan No. 11, Dawson Marketplace, the 3rd Largest Tenant, One Life Fitness, representing approximately 9.9% of the net rentable area, has executed a lease but has not yet taken occupancy or begun paying rent. One Life Fitness is anticipated to take occupancy of its space by the first quarter of 2022 and to commence paying its pro rata share of operating expenses by July 2021, 50% of its base rent by January 2022 and its entire base rent by August 2022. We cannot assure you that One Life Fitness will take occupancy or begin paying rent as expected or at all.

With respect to Loan No. 12, 8670 Wilshire, the Largest Tenant, Cedars-Sinai Medical Center, representing approximately 57.1% of the net rentable area, has been temporarily closed since March 2020 in order to convert its space into a full-time home of the California Heart Center. As of February 17, 2020, Cedars-Sinai Medical Center has finished the major construction and has started moving equipment into the patient rooms and getting employees onsite. Cedars-Sinai Medical Center is anticipated to open to the public in March 2021. The 2nd Largest Tenant, Specialty Surgical Center of Beverly Hills, L.P, representing approximately 33.4% of the net rentable area, executed a ten-year extension of its lease in April 2020, and received (i) abated rent for August and September 2020, and (ii) two months of free rent exercisable at any time during the term of its lease with 30 days’ prior written notice. At origination, $243,746 was deposited into a rent replication reserve related to Specialty Surgical Center of Beverly Hills, L.P.’s two months’ of free rent according to its lease.

With respect to Loan No. 17, 711 Fifth Avenue, the 3rd Largest Tenant, Ralph Lauren, representing approximately 11.4% of the net rentable area and approximately 41.1% of the underwritten base rent, has the right to go dark at any time. If the borrower believes Ralph Lauren has ceased retail operations in all of the premises under the related lease, the borrower may give notice thereof to Ralph Lauren. Within 30 days after the borrower gives such notice, Ralph Lauren must notify the borrower whether it intends to cease retail operations at the premises. If Ralph Lauren notifies the borrower of its intent to cease such retail operations, the borrower has the right to terminate the lease. Ralph Lauren’s space (excluding the Polo Bar), is currently dark. Ralph Lauren has requested to sublease its entire space to Mango, a Spanish retail chain, for a rent that is expected to be significantly lower than Ralph Lauren’s prime rent. The borrower initially denied the request, asserting that Mango (i) is not a first class retailer, (ii) does not conform to the mix of retail tenants that exists at the mortgaged property, and (iii) has a reputation for unfair labor practices. The dispute went to arbitration, where the arbitrator found that it was unreasonable for the borrower to withhold consent. The sublease has not yet been executed and we cannot assure you it will be executed as expected or at all.

 A-1-36 

 

  With respect to Loan No. 23, Willoughby Commons, the 3rd Largest Tenant, Regal Cinemas, representing approximately 19.0% of the net rentable area, is dark with respect to its space but is paying partial rent.
   
(5) With respect to all mortgage loans, with the exceptions of the mortgage loans listed below, the Current LTV % and the Maturity LTV % are based on the “as-is” Appraisal Value ($) even though, for certain mortgage loans, the appraiser provided “as-stabilized” values based on certain criteria being met.

With respect to Loan No. 1, 410 Tenth Avenue, the Appraised Value ($), Current LTV %, and Maturity LTV % are based on the “Hypothetical Market Value Assuming Reserves” of $955,000,000 effective December 1, 2020, which assumes that the borrowers escrow all contractually obligated free rent, tenant improvements, leasing costs and all of the remaining capital expenditures. At origination, the borrowers reserved $57,700,000 for outstanding gap rent and free rent and approximately $35,179,875 for all outstanding tenant improvements and leasing commissions. Based on the “As-Is” appraised value of $825,000,000 effective December 1, 2020, the Current LTV % and Maturity LTV % are 46.1%.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the Appraised Value ($) of $4,600,000,000 as of January 10, 2020, set forth above is the appraised value solely with respect to real property at the MGM Grand & Mandalay Bay Mortgaged Properties, excluding personal property and intangible property attributable to the MGM Grand & Mandalay Bay Properties (the “Aggregate Real Property Appraised Value”). The appraisal also includes an “As Leased–Sale–Leaseback Appraised Value,” which is equal to the Aggregate Real Property Appraised Value. The Appraised Value of $7,352,600,000 (“Aggregate As Is Appraised Value”) as of January 10, 2020, includes personal property and intangible property attributable to the MGM Grand & Mandalay Bay Mortgaged Properties. The personal property and intangible property relating to the MGM Grand & Mandalay Bay Mortgaged Properties is owned by the MGM tenant or certain sublessees at the MGM Grand & Mandalay Bay Mortgaged Properties that are wholly owned subsidiaries of MGM (the “MGM/Mandalay Operating Subtenants”) (as more particularly provided in the master lease), which granted a security interest in certain property of the MGM tenant and the MGM/Mandalay Operating Subtenants (with certain exclusions, including an exclusion for the intellectual property of MGM tenant (as more particularly described in the master lease); and provided that the FF&E is only transferred to the MGM Grand & Mandalay Bay Borrowers at no cost in the event of a termination of the master lease due to an event of default by the MGM tenant thereunder, in favor of the MGM Grand & Mandalay Bay Borrowers, and such security interest was collaterally assigned by the MGM Grand & Mandalay Bay Borrowers to the lender. The Current LTV % and the Maturity % are based on the “Aggregate As Is Appraised Value” are 22.2% and 22.2%, respectively, based on the MGM Grand & Mandalay Bay Senior Loan. The Current LTV % and the Maturity % are based on the Aggregate Real Property Appraised Value are 35.5% and 35.5%, respectively, based on the MGM Grand & Mandalay Bay Senior Loan.

With respect to Loan No. 3, Phillips Point, the Current LTV % and Maturity LTV % are calculated utilizing the “Hypothetical As Is” appraised value of $289,000,000 as of December 15, 2020, which assumes that an additional $6.65 million would be reserved by the borrower sponsor at origination for future tenant improvement allowances and leasing commissions. The Current LTV % and Maturity LTV % calculated based on the “as-is” appraised value of $282,000,000, as of December 15, 2020, are both 70.4%.
 
With respect to Loan No. 8, Boca Office Portfolio, the Appraised Value represents the “portfolio appraised value”, which attributes a premium to the aggregate value of the mortgaged properties as a whole. Based on the sum of the individual appraised values of the mortgaged properties, the Appraised Value would be $150,700,000, which results in a Current LTV % of 65.7% and a Maturity LTV% of 65.7%.

With respect to Loan No. 10, 30 Hudson Yards 67, the Appraised Value ($), Current LTV %, and Maturity LTV % are based on the “Hypothetical Value: Escrow Tenant Improvements” of $110,000,000 effective February 1, 2021, which assumes that the outstanding tenant improvement costs of $4,799,293 associated with the existing lease will be placed into an escrow account. At loan origination, the borrower reserved $4,799,293 for outstanding tenant improvements and leasing commissions. Based on the “As-Is” appraised value of $105,000,000 effective February 1, 2021, the Current LTV % and Maturity LTV % are 67.6%.

With respect to Loan No. 11, Dawson Marketplace, the Current LTV % is calculated utilizing the “as-is” appraised value of $68,000,000 as of November 17, 2019, and the Current Balance ($) net of the earn-out reserve of approximately $6,095,133. The Current LTV % calculated based on the “as-is” appraised value and Current Balance ($), without netting the earn-out reserve, is 64.4%.

With respect to Loan No. 17, 711 Fifth Avenue, the “as-is” appraised value of $1,000,000,000 as of January 23, 2020 includes the extraordinary assumption that the timely and workmanlike completion of certain scheduled renovations and improvements will be commensurate to similar Class A and Class B office buildings in the competitive marketplace.
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  With respect to Loan No. 18, Oakland Commons I&II, the Appraised Value ($), Current LTV %, and Maturity LTV % are based on the “Hypothetical Market Value including Capital Reserve Account” of $34,900,000 effective February 1, 2021, which assumes that a reserve in the amount of $1,400,000 (to be used toward tenant improvements and leasing commissions) is funded as of the as is date of value. At loan origination, the borrower reserved $1,400,000 for tenant improvements and leasing commissions. Based on the “As-Is” appraised value of $33,500,000 effective February 1, 2021, the Current LTV % and Maturity LTV % are 72.5% and 61.5%, respectively.

With respect to Loan No. 25, Dollar General Portfolio, the Appraised Value ($), Current LTV % and Maturity LTV % are based on the “As-Portfolio” appraised value of $21,320,000. The “As-Portfolio” is a consolidated roll-up value, which reflects the benefit from divergent locations, long remaining lease terms, and value added from consolidating a portfolio of 15 separate Dollar General stores. The appraisal concluded a combined “As-Is” appraised value of $21,150,000, which results in a Current LTV % and Maturity LTV % of 65.5%.
   
(6) For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Current Balance ($), and Maturity/ARD Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation.

With respect to Loan No. 1, 410 Tenth Avenue, the whole loan is structured with an anticipated repayment date (“ARD”) of January 1, 2028 and a final maturity date of March 1, 2032. After the ARD, the interest rate will be revised to the greater of (i) 4.59159%, (ii) the 7-year swap yield as of the ARD plus 3.94159%, subject to a cap of 7.59159% and (iii) the default rate, when applicable pursuant to the 410 Tenth Avenue Whole Loan documents.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, The MGM Grand & Mandalay Bay Whole Loan is structured with an Anticipated Repayment Date (“ARD”) of March 5, 2030 and a final maturity date of March 5, 2032. After the ARD, the following structure would apply: (i) the interest rate will increase by 200 basis points over the greater of (x) 3.55800%, and (y)(1) the ARD Treasury Note Rate in effect on the ARD (such new rate, the “Adjusted Interest Rate”) plus (2) 1.77000%, (ii) amounts in the Excess Cash Flow Reserve (as defined in the related loan agreement) will be applied first to pay monthly additional interest amounts which, to the extent not paid, will be deferred (together with interest accrued thereon at the Adjusted Interest Rate) and added to the principal balance of the applicable note(s) comprising a portion of the MGM Grand & Mandalay Bay Whole Loan in the manner set forth in the MGM Grand & Mandalay Bay Whole Loan documents, and (iii) a full cash flow sweep to the extent of remaining amounts in the Excess Cash Flow Reserve will be applied to principal of the MGM Grand & Mandalay Bay Whole Loan in the manner set forth in the MGM Grand & Mandalay Bay Whole Loan documents. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—ARD Loans” in this Preliminary Prospectus.
   
(7) With respect to Loan Nos. 1, 2, 3, 4, 5, 6, 7, 8, 10, 13, 15, 16, 17 and 23, 410 Tenth Avenue, MGM Grand & Mandalay Bay, Phillips Point, 141 Livingston, Pittock Block, The Galleria Office Towers, U.S. Industrial Portfolio VI, Boca Office Portfolio, 30 Hudson Yards 67, JW Marriott Nashville, The Village at Meridian, Millennium Corporate Park, 711 Fifth Avenue and Willoughby Commons, in each case, the mortgage loan is part of a larger split whole loan, which consists of the mortgage loan and one or more pari passu and/or subordinate components. Please see “Description of the Mortgage Pool—The Whole Loans” for additional information.
   
(8) Each number identifies a group of related borrowers.

With respect to Loan Nos. 1, 24 and 32, 410 Tenth Avenue, Camellia Trace and Bristol Park, in each case, the borrowers own the mortgaged properties as tenants-in-common.

With respect to Loan No. 1, 410 Tenth Avenue, one of the co-borrowers of the whole loan, Tenth Ave 4 Lessee LLC, is not a tenant-in-common and is expected to be a borrower only until completion of the “reverse exchange” under Section 1031 of the Internal Revenue Code required under the related whole loan documents. See “Description of the Mortgage Pool—Tenant Issues—Affiliated Leases” for additional information related to the reverse 1031 exchange.

With respect to Loan Nos. 24 and 32, Camellia Trace and Bristol Park, the mortgaged properties are owned by related borrowers.

With respect to Loan Nos. 39 and 40, The Cove Storage Portfolio and Scotsman Self Storage, the mortgaged properties are owned by separate borrowers, but are related through the sponsors, George Thacker, Lawrence Charles Kaplan, and Richard Schontz.
   
(9) For each mortgage loan, the Net Mortgage Rate % is equal to the excess of the related Interest Rate % over the related Servicing Fee Rate, the Trustee Fee Rate (including the Certificate Administrator Fee Rate), the Operating Advisor Fee
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  Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate (collectively, the “Admin Fee %”).
   
(10) For the mortgage loans that are interest-only for the entire term and accrue interest on an Actual/360 basis, the Monthly Debt Service ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360.
   
(11) With respect to all mortgage loans, Annual Debt Service ($) is calculated by multiplying the Monthly Debt Service ($) by 12.
   
(12) In some instances in which the loan documents provide grace periods with respect to payments, such grace periods may be permitted a limited number of times per any 12-month periods.

With respect to Loan No. 3, Phillips Point, the mortgage loan documents provide the borrower with one five-day grace period in any 12-month period for any payments due on a payment date (other than the maturity date).

With respect to Loan No. 19, Orlando Technology Park, the mortgage loan documents provide the borrower with a five day grace period, one time per every 366-day period during the term of the mortgage loan prior to the imposition of the late payment charge for any payments due on a payment date.
   
(13)

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

 

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

 

The “YM” component of the prepayment provision represents yield maintenance payments.

 

The “O” Component of the prepayment provision represents the free payments including the Maturity Date.

In the case of certain mortgage loans, the loan documents permit the related borrower to prepay a portion of the mortgage loan in connection with partial releases of collateral, to cure a cash management period triggered by certain events or circumstances or to meet certain financial metrics contained in the related loan documents.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the defeasance lockout period will be 35 payment dates beginning with and including the first payment date of April 5, 2020. The MGM Grand & Mandalay Bay Borrowers have the option to defease the MGM Grand & Mandalay Bay Whole Loan, in whole or in part commencing on February 15, 2023. The MGM Grand & Mandalay Bay Whole Loan may be prepaid in whole or in part at any time, subject to payment of the applicable yield maintenance premium if such prepayment occurs prior to September 5, 2029 (provided no yield maintenance will be due in connection with mandatory prepayments arising out of any casualty, condemnation or in connection with a Special Release or a Default Release (as defined in the Preliminary Prospectus)).

With respect to Loan No. 3, Phillips Point, the lockout period will be at least 25 payment dates beginning with and including the first payment date in March 2021. Defeasance of the Phillips Point Whole Loan in full is permitted on or after the first payment date following the date that is the earlier to occur of (i) January 15, 2024 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.

With respect to Loan No. 4, 141 Livingston, the lockout period will be at least 24 payment dates beginning with and including the first payment date in April 2021. Defeasance of the 141 Livingston Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) February 18, 2025. The assumed defeasance lockout period of 24 payment dates is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.

With respect to Loan No. 5, Pittock Block, the whole loan may be voluntarily prepaid in whole (but not in part) at any time during the term of the whole loan, other than within 60 days prior to or after a securitization of any portion of the whole loan, with the payment of a yield maintenance premium.

 
  With respect to Loan No. 6, The Galleria Office Towers, the defeasance lockout period will be at least 24 payment dates beginning with and including the first payment date in April 2021. The borrower has the right to defease the Galleria Office Towers Whole Loan in whole (and not in part) after the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized and (ii) February 17, 2025. The assumed defeasance
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  lockout period of 24 months is based on the expected closing date of the Benchmark 2021-B24 securitization in March 2021. The actual lockout period may be longer.

With respect to Loan No. 7, U.S. Industrial Portfolio VI, the lockout period will be at least 24 payment dates beginning with and including the first payment date in April 2021. Defeasance of the U.S. Industrial Portfolio VI Whole Loan in full is permitted on or after the first payment date following the date that is the earlier to occur of (i) February 8, 2024 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 24 payments is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.

With respect to Loan No. 8, Boca Office Portfolio, the lockout period will be at least 24 payment dates beginning with and including the first payment date in April 2021. Defeasance of the Boca Office Portfolio Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) February 17, 2025. The assumed defeasance lockout period of 24 payment dates is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.

With respect to Loan No. 10, 30 Hudson Yards 67, the lockout period will be at least 24 payment dates beginning with and including the first payment date of April 7, 2021. The borrower is permitted to (a) defease all, but not part, of the whole loan after two years after the closing date of the securitization that includes the last note to be securitized (the “Permitted Defeasance Date”) or (b) prepay all, but not part, of the whole loan on or after April 7, 2025, with the payment of yield maintenance premium if the Permitted Defeasance Date has not yet occurred. The assumed lockout period of 24 payment dates is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.

With respect to Loan No. 13, JW Marriott Nashville, the lockout period will be at least 36 payment dates beginning with and including the first payment date in April 2020. Defeasance of the JW Marriott Nashville Whole Loan in full is permitted on or after the first payment date following the date that is the earlier to occur of (i) March 6, 2023 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 36 payments is based on the expected Benchmark 2021-B24 securitization closing date in March 2021. The actual lockout period may be longer.
   
(14) With respect to some mortgage loans, historical financial information may not be available due to the when the properties were constructed, renovated and/or acquired.

With respect to Loan No. 1, 410 Tenth Avenue, historical financial information was not available because the mortgaged property was newly redeveloped with approximately 96% of the work complete as of January 2021.

With respect to Loan No. 7, U.S. Industrial Portfolio VI, historical cash flow information is not available because each of the related mortgaged properties is subject to a triple-net lease with the related sole tenant.

With respect to Loan No. 9, Gestamp Automocion SLB, historical financial information was not available because the mortgage loan is being used to facilitate the acquisition of the mortgaged property.

With respect to Loan No. 10, 30 Hudson Yards 67, historical financial information was not available because the mortgaged property is leased to a single tenant under a triple net lease.

With respect to Loan No. 20, Woodbury Crossing Phase II, historical cash flow information is not available because the first units were delivered in the summer of 2019 and have been leased as phases of the construction were completed. All units were assumed to be delivered as of the Cut-off Date.

With respect to Loan No. 24, Camellia Trace, historical financial information was not available because the borrower sponsors acquired the mortgaged property in 2019.

With respect to Loan No. 25, Dollar General Portfolio, historical cash flow information is not available because all 15 mortgage properties were recently built in 2019 and 2020.

With respect to Loan No. 26, 9633 Westheimer Road, historical financial information was not available because the mortgaged property was recently renovated.
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  With respect to Loan No. 28, Bridgeport Distribution Center, historical financial information was not available because the mortgage loan is being used to facilitate the acquisition of the mortgaged property.

With respect to Loan No. 30, 5501 New Utrecht Avenue, historical financial information was not available because the mortgaged property was recently constructed.
 
With respect to Loan No. 32, Bristol Park, historical financial information was not available because the borrower sponsors acquired the mortgaged property in 2019.

With respect to Loan No. 33, 6450 Industrial, historical cash flow information is not available because the mortgaged property was renovated in 2018 in conjunction with the sole tenant, Mack Trucks, taking occupancy in September 2018 and then expanding from 200,000 square feet into the entire building in 2019.

With respect to Loan No. 34, 651 Bushwick Avenue, historical financial information was not available because the mortgaged property was recently constructed.

With respect to Loan No. 35, Grocery Outlet Truckee, historical cash flow information is not available because the related mortgaged property is newly constructed.
   
(15) In the case of certain mortgage loans, the UW NOI ($) exceeds Most Recent NOI ($) by 10%.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the increase by 10% or more from Most Recent NOI to UW NOI is a result of the temporary closure of the MGM Grand & Mandalay Bay Properties due to COVID-19. On May 1, 2020, MGM Resorts International reported that, as a result of the temporary closure of its domestic properties (which includes the MGM Grand & Mandalay Bay Properties) following the outbreak of COVID-19, its domestic properties (which includes the MGM Grand & Mandalay Bay Properties) were effectively generating no revenue, there were high levels of room and convention cancellation through the third quarter of 2020, and that, following the re-opening of its domestic properties (which includes the MGM Grand & Mandalay Bay Properties), it expected weakened demand in light of consumer fears and general economic uncertainty, among other things.

With respect to Loan No. 6.03, The Galleria Office Towers – Galleria Financial Center, the increase from Most Recent NOI to UW NOI at the mortgaged property is primarily attributable to the inclusion of potential income from vacant space, which was underwritten per the appraiser’s concluded market rent for each vacant space.

With respect to Loan No. 8, Boca Office Portfolio, the increase from Most Recent NOI to UW NOI at the mortgage property is primarily attributable to unrealized rent accounting for new tenants occupying space, rent abatement expiration, contractual rent steps, and potential income from vacant space.

With respect to Loan No. 11, Dawson Marketplace, the increase from the Most Recent NOI ($) to UW NOI ($) is primarily attributable to the inclusion of One Life Fitness ($630,000 in underwritten base rent) along with two recently executed inline leases, AYK Jewelry and Sakura Teriyaki ($83,520 in underwritten base rent).

With respect to Loan No. 12, 8670 Wilshire, the increase in Most Recent NOI ($) to UW NOI ($) is primarily attributed to (i) $202,047 of rent steps through January 2022 and straight line rent for investment grade tenants and (ii) the 2nd largest tenant, Specialty Surgical Center of Beverly Hills, L.P., executing a 10-year lease renewal in April 2020 which included two months of free rent in August and September 2020 and increased its rental rate 20.7% from a weighted average $71.78 PSF to $86.64 PSF.
 
With respect to Loan No. 13, JW Marriott Nashville, the increase from the Most Recent NOI ($) to UW NOI ($) is primarily attributable to underwriting stabilized hotel operations pre-COVID-19 as of the trailing 12-month period ending on January 31, 2020. The latest trailing 12-month period ending on September 30, 2020 reflects the months heavily impacted by COVID-19. Additionally, the borrower sponsor has posted an 18-month debt service reserve equal to $8,831,707, which will be applied to monthly debt service payments through March 2022.

With respect to Loan No. 16, Millennium Corporate Park, the increase from the Most Recent NOI ($) to UW NOI ($) is primarily attributable to contractual rent steps through March 31, 2022 and the present value of contractual rent step increments over the remainder of the investment-grade tenant’s lease term, with staggered lease expirations running through April 30, 2028.

With respect to Loan No. 20, Woodbury Crossing Phase II, the increase in Most Recent NOI ($) to UW NOI ($) is primarily attributed to recent completion and leasing up of the mortgaged property. The first units were delivered in the summer of 2019 and have been leased as phases of the construction are completed. All units were assumed to be delivered as
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  of the Cut-off Date. The lender is underwriting to annualized in-place income and expenses that are supported by current occupancy of 95.6%, the appraisal, and the first phase of the project, Woodbury Commons Phase I, which is not part of the collateral and has been 98% leased since 2018.

With respect to Loan No. 21, Advanced Energy, the increase from Most Recent NOI to UW NOI at the mortgage property is primarily attributable to a contractual increased in base rent for Advanced Energy Industries, Inc.

With respect to Loan No. 22, Value Store It Miami, the increase from Most Recent NOI to UW NOI at the mortgage property is primarily attributable to potential income from vacant space.

With respect to Loan No. 29, 303 3rd Street, the increase from Most Recent NOI to UW NOI at the mortgage property is primarily attributable to the mortgaged property being redeveloped from 2018-2019 and being leased up in 2020.
   
(16) With respect to all hotel properties, except for the mortgage loan(s) listed below, the UW NOI ($) is shown after taking a deduction for an FF&E reserve, and as such, the UW NOI ($) and UW NCF ($) for these properties are the same.

With respect to Loan No. 1, 410 Tenth Avenue, the seller of the mortgaged property has submitted an application to the New York City Department of Finance for the Industrial & Commercial Abatement Program (the “ICAP”). The ICAP abatement for the mortgaged property is expected to commence in the tax year of 2024/25 and expire in 2033/34. However, the taxes for the mortgaged property were not underwritten based on the abated tax amounts. See “Description of the Mortgage Pool – Real Estate and Other Tax Considerations” in the preliminary prospectus for additional information.

With respect to Loan No. 5, Pittock Block, the UW NOI ($) and the UW NCF ($) include underwriting for a new license agreement that was recently signed with a Fortune 10 technology company totaling $837,000 in underwritten rent.

With respect to Loan No. 9, Gestamp Automocion SLB, the mortgaged property is subject to two separate ground leases entered into in connection with two payment in lieu of taxes (“PILOT”) agreements, which operate as a tax incentive. Taxes are underwritten at $495,580 per the appraiser’s conclusion of actual required tax payments under the PILOT agreements.

With respect to Loan No. 10, 30 Hudson Yards 67, the borrower owns the fee interest in the Mortgaged Property. However, to obtain the New York City real estate tax exemption and the payment-in-lieu of taxes (“PILOT”) benefits, the borrower has leased the Mortgaged Property to the New York City Industrial Development Agency, which has subleased the Mortgaged Property back to the borrower under an agency lease, which obligates borrower to make PILOT payments. The PILOT commenced in the 2019/20 tax year and is scheduled to expire after the tax year 2038/39. The real estate taxes were underwritten based on the abated tax amount. See “Description of the Mortgage Pool – Real Estate and Other Tax Considerations” in the preliminary prospectus for additional information.

With respect to Loan No. 30, 5501 New Utrecht Avenue, the related mortgaged property is in the process of qualifying for a 15 year Industrial & Commercial Abatement Program (“ICAP”) tax abatement which would run through the 2035/2036 tax year. The abatement amount would be 100% for the first 11 years, with the abatement percentage declining by 20% every year thereafter.
 
With respect to Loan No. 34, 651 Bushwick Avenue, the borrower has applied for 35-year 421-a Affordable Housing NY Program tax abatement that would benefit the residential portion of the mortgaged property, and a 25-year ICAP that would benefit the commercial portion of the property. Six of the residential units at the mortgaged property must be designated for affordable housing and leased at 130% of area median income. The remaining 14 units must remain free market rent stabilized for the duration of the 421-a tax abatement. The mortgaged property will receive a 100% exemption on any assessment increase above the base year assessment for the first 25 years, and a 30% exemption for the final 10 years until fully phased out. Taxes were underwritten to the abated tax amount for the residential portion equal to approximately $7,737, and the unabated tax amount for the commercial portion, excluding any ICAP benefits, equal to approximately $47,457, for a total of $55,194.
   
(17) Except for the mortgage loan(s) listed below, the UW NOI DSCR and UW NCF DSCR for all partial interest-only mortgage loans were calculated based on the first principal and interest payment after the Note Date during the term of the mortgage loan.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the UW NOI DSCR and UW NCF DSCR was calculated based on initial MGM/Mandalay Lease annual rent of $292,000,000. The UW NOI DSCR and UW NCF DSCR based on UW NOI and UW NCF are 8.82x and 8.27x, respectively
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(18) In the case of certain mortgage loans, all or a portion of the Title Type consists of a leasehold interest.

With respect to Loan No. 6, The Galleria Office Towers, the mortgaged properties are subject to a condominium regime with six total condominium units (for all purposes under the condominium documents), three of which constitute the entirety of the collateral, and three of which are not part of the collateral. There are six board seats, and the borrower is allocated three of the board seats. Please see “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests” for additional information.

With respect to Loan No. 9, Gestamp Automocion SLB, the mortgage loan is encumbered by the fee and leasehold interests of the mortgaged property, which includes a long-term ground lease to the Industrial Development Board of the County of Hamilton, Tennessee in the form of a PILOT, which operates as a tax incentive.

With respect to Loan No. 10, 30 Hudson Yard 67, the related mortgaged property is subject to a condominium declaration that governs eight condominium units. The borrower is entitled to approximately 1.6% of voting rights, and does not have control of the condominium board or any blocking rights with respect to for certain major decisions, such as unit removals and use of proceeds in connection with casualty or condemnation proceedings. However, the condominium policy prohibits implementation of any policies that would have disproportionately negative impacts any unit owners. In addition, the borrower has provided a non-recourse carveout for any losses associated with, among other things, the withdrawal of the unit comprising the mortgaged property from the condominium regime or termination of the condominium regime. Please see “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests” in this Preliminary Prospectus for additional information.

With respect to Loan No. 14, Morgan Stanley Tower, the borrower, Second Avenue Tower Limited Partnership, is the ground lessee of 174 of the 370 parking spaces required for zoning compliance at the mortgaged property. The leasehold interest is owned by the City of St. Petersburg. The term of the ground lease expires on July 30, 2059.

With respect to Loan No. 34, 651 Bushwick Avenue, in connection with the borrower’s application for a 421-a Affordable Housing NY Program tax abatement and an ICAP tax abatement, the mortgaged property will be divided into two condominium units. Please see “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests” for additional information.
   
(19) With respect to each hotel property, shows the expiration date of the related license agreement, franchise agreement, operating agreement or management agreement. See “Description of the Mortgage Pool—Property Types—Hotel Properties” in the preliminary prospectus for information related to mortgage loans secured by hotel properties.
   
(20) Represents the amount deposited by the borrower at origination. All or a portion of this amount may have been released pursuant to the terms of the related loan documents.

With respect to Loan No. 5, Pittock Block, at loan origination, the borrower reserved a $7,500,000 holdback (the “Holdback”) to be released upon either of the following events: (a) the borrower enters into a data license agreement with the largest tenant of the Portland NAP, a Fortune 10 technology company, which demises no fewer than 31 cabinets at the Mortgaged Property and provides for annual rent/license fees in an amount not less than $837,000 (the “Data License”), and any payment concessions in favor of the tenant/licensee and/or obligations of the borrower to perform and/or pay for any work in connection with the applicable Data License have either been completed and satisfied in full or the reserve funds have been established with the lender for the purpose of covering the same; or (b) the Mortgaged Property achieves a debt service coverage ratio of 1.95x and a loan to value ratio of 51%. The Fortune 10 technology company recently signed a license agreement for 31 additional cabinets. Accordingly, the Holdback is expected to be released to the borrower.

With respect to Loan No. 17, 711 Fifth Avenue, the borrower funded $2,000,000 at origination for estimated costs in connection with obtaining a new temporary or permanent certificate of occupancy to replace the temporary certificate of occupancy that expired in November 2019. The borrower obtained a temporary certificate of occupancy that was effective as of March 24, 2020, and the $2,000,000 has been disbursed to the borrower.

With respect to Loan No. 31, Hamden Self Storage, the borrower will have the right to make a release request (as defined in the loan agreement) no more than one time per calendar quarter, and in all cases, no release request can be made after the 24th monthly payment date upon the following conditions: (i) no trigger period has occurred and is continuing; and (ii) lender has determined that the debt yield equals or exceeds 9% (based on the proposed net loan amount after giving effect to the release of the proposed economic holdback reserve release amount).
   
(21) Represents the monthly amounts required to be deposited by the borrower. The monthly collected amounts may be increased or decreased pursuant to the terms of the related loan documents. In certain cases, reserves with $0 balances
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  are springing and are collected in the event of certain conditions being triggered in the respective mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being trigger in the respective mortgage loan documents.

With respect to Loan No. 3, Phillips Point, on each payment date, if and to the extent the amount contained in the TI/LC reserve account is less than $6,650,000, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to approximately $18,704.

With respect to Loan No. 12, 8670 Wilshire, the borrower was required to deposit approximately $373,771 into a rent holdback reserve at origination, which is equivalent to one year of base rent for the 3rd Largest Tenant, Screening Services Group, LLC, and the 4th Largest Tenant, Alexander Café LLC. At origination, $243,746 was deposited into a rent replication reserve related to Specialty Surgical Center of Beverly Hills, L.P.’s two months’ of free rent according to its lease.

With respect to Loan No. 13, JW Marriott Nashville, beginning on the payment date in April 2021, the Monthly Capex Reserve ($) is an FF&E reserve in an amount equal to (i) for the payment dates through and including July 2023, 3% of the gross revenues of the mortgaged property for the prior calendar month and (ii) thereafter, 4% of the gross revenues of the mortgaged property for the prior calendar month.

With respect to Loan No. 19, Orlando Technology Park, the borrower was required to deposit approximately $396,442 into an approved leasing expense reserve at origination, with $60,340 allocated to Praxis Specialty Pharmacy, approximately $236,102 allocated to D-BAT Lake Mary, and $100,000 allocated to FARO Tech. At origination, $60,483 was deposited into a free rent reserve related to D-BAT Lake Mary’s six months’ of free rent according to its lease. At origination, three months of amortizing debt service payments in an amount of approximately $325,373 was deposited into a Debt Service Reserve and held as additional collateral for the mortgage loan. Moreover, if no trigger event occurs and provided certain additional conditions are satisfied, the Debt Service Reserve will be transferred into the CapEx Reserve and/or the TI/LC Reserve six months after the Closing Date.
 
With respect to Loan No. 20, Woodbury Crossing Phase II, at origination, the guarantor gave a limited payment guaranty in the amount of up to $1,244,090 under the loan (the “Senior Debt Service Guaranty”), which is the amount of debt service due under the loan and the mezzanine loan for the first 12 months. The Senior Debt Service Guaranty will be released upon the satisfaction of certain conditions set forth in the related loan documents (but in no event earlier than 12 months), including (1) no trigger period exists, (2) the absence of any shutdown, “shelter-in-place” or  “socially distance” requirements and any other limitations on business operations relating to the COVID-19 pandemic for at least 90 days, (3) for the immediately preceding 3 month period, the mortgaged property has: (x) maintained an average occupancy rate of 92.5% and (y) maintained an average non-delinquent collection rate of 92.5% from tenants in occupancy, (4) the DSCR under the loan is no less than 1.88x and (5) the combined DSCR (for both the loan and the mezzanine loan) is no less than 1.31x. Additionally, the guarantor gave a limited payment guaranty in the amount of up to approximately $374,400 under the mezzanine loan for debt service due under the mezzanine loan during the first 12 months.

With respect to Loan No. 23, Willoughby Commons, on each payment date, if and to the extent the amount contained in the TI/LC reserve account is less than $825,000, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to approximately $22,917.

With respect to Loan No. 36, Holiday Inn Philadelphia South, the mortgage loan documents were modified in April 2020 to, among other things, defer the requirement to fund the FF&E reserve from April 2020 to and including July 2020. In addition, the mortgage loan documents are expected to be further modified to require the borrower to, from and after the Payment Date occurring in August 2020, in addition to the FF&E monthly deposit, deposit into the Monthly Capex Reserve ($) an amount equal to the excess cash flow remaining after satisfaction of the waterfall items as set forth in the mortgage loan documents (a “FF&E Reserve True Up Deposit”) until such time as the aggregate amount of FF&E Reserve True Up Deposits deposited with the lender equals the aggregate amount of the FF&E monthly deposits deferred pursuant to the mortgage loan documents.

With respect to Loan No. 38, Deschutes Business Center, the borrower is required to make monthly deposits into the Leasing Reserve Account (i) commencing with the first monthly payment date and on each monthly payment date occurring thereafter up to and including the 36th monthly payment date, in an amount equal to $2,775.75, and (ii) commencing with the 37th monthly payment date and on each monthly payment date occurring thereafter up to but not including the stated maturity date, during which a Trigger Period has occurred and is continuing, in an amount equal to $1,997.69 for tenant improvements and leasing commissions.
   
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  With respect to Loan No. 38, Deschutes Business Center, the borrower is required to make monthly deposits into the Replacement Reserve Account (i) commencing with the first monthly payment date and on each monthly payment date occurring thereafter up to and including the 48th monthly payment date, in an amount equal to $1,346.83, and (ii) commencing with the 49th monthly payment date and on each monthly payment date occurring thereafter up to and including the 96th monthly payment date, in an amount equal to $451.08.
   
(22) Represents a cap on the amount required to be deposited by the borrower pursuant to the related mortgage loan documents. In certain cases, during the term of the mortgage loan, the caps may be altered or terminated subject to conditions of the respective mortgage loan documents.

With respect to Loan No. 7, U.S. Industrial Portfolio VI, the CapEx Reserve Cap ($) is equal to the product of (x) $0.10 multiplied by (y) the aggregate number of rentable square feet then contained in the mortgaged properties multiplied by (z) three. The TI/LC Reserve Cap ($) is equal to the product of (x) $0.20 multiplied by (y) the aggregate number of rentable square feet then contained in the mortgaged properties multiplied by (z) three. As of the Cut-off Date, the aggregate number of rentable square feet is 2,981,955.

With respect to Loan No. 19, Orlando Technology Park, at origination, $1,000,000 was escrowed into the TI/LC Reserve. The borrower’s obligation to escrow funds into the TI/LC Reserve will be suspended so long as the DSCR is equal to or greater than 1.50x and at least $500,000 is in the TI/LC Reserve. If at any point during the loan term the funds in the TI/LC Reserve fall below $500,000, or the DSCR drops below 1.50x, $16,108 per month ($0.65 per square foot per annum) will be escrowed into the TI/LC Reserve until it reaches $1,000,000. The $1,000,000 cap is only applicable so long as the DSCR is equal to or greater than 1.50x.

With respect to Loan No. 23, Willoughby Commons, the TI/LC Reserve Cap ($) will increase to $1,250,000 if any amounts attributable to termination proceeds deposited in the TI/LC reserve account are included in the calculation.
   
(23) With respect to the footnotes hereto, no footnotes have been provided with respect to tenants that are not among the five largest tenants by square footage for any mortgaged property. In some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the subject lease.

With respect to Loan No. 3, Phillips Point, the 4th Largest Tenant, Greenberg Traurig, representing approximately 6.7% of the net rentable area, subleases 2,796 square feet to Frankel Loughran Starr & Vallone on a 24-month term through May 2021 at $34.00 per square foot.

With respect to Loan No. 6.02, The Galleria Office Towers – Galleria Tower II, the Largest Tenant, Quanta Services, subleases 56,345 square feet from Panhandle Eastern Pipe Line Company, L.P.

With respect to Loan No. 6.02, The Galleria Office Towers – Galleria Tower II, the 3rd Largest Tenant, Kane Russell Coleman & Logan PC, subleases 18,687 square feet from Panhandle Eastern Pipe Line Company, L.P.

With respect to Loan No. 6.03, The Galleria Office Towers – Galleria Financial Center, the 2nd Largest Tenant, Southwest Risk, LP, subleases 7,775 square feet to Big Data Energy Services, Inc.

With respect to Loan No. 10, 30 Hudson Yards 67, Related Companies L.P., the sole tenant at the mortgaged property with a lease expiration date of February 28, 2039, is subleasing its entire premises to Facebook, Inc. whose sublease expires in June 30, 2024.

With respect to Loan No. 15, The Village at Meridian, the Third Largest Tenant, OpSec Online LLC, has subleased 13,500 square feet of its total lease area of 40,805 square feet to Engage Technologies Group, Inc. for 52 months. The term of the sublease commenced on November 1, 2020, and expires on February 27, 2025, one day before the expiration date of the prime lease.
   
(24) In certain cases, the data for tenants occupying multiple spaces includes square footage only from the primary spaces sharing the same expiration date, and may not include smaller spaces with different expiration dates.

With respect to Loan No. 1, 410 Tenth Avenue, the Largest Tenant, Amazon, leases (i) floors 9-14 and 16-20 totaling 300,206 square feet with an expected lease commencement date in March 2021 and lease expiration in May 2037 and (ii) floor 15 totaling 35,202 square feet with an expected lease commencement date in May 2021 and lease expiration in July 2037.
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  With respect to Loan No. 1, 410 Tenth Avenue, the 2nd Largest Tenant, First Republic, leases (i) floors 2-6 totaling 189,260 square feet and (ii) ground floor and below grade retail space totaling 22,261 square feet with a lease commencement date in April 2021 and an expiration date in August 2036.

With respect to Loan No. 5, Pittock Block, the Largest Tenant, LS Networks, leases 15,238 square feet of which (i) 14,821 square feet is office space leased for $22.73 per square foot and is set to expire in July 2021 and (ii) 417 square feet is storage space leased for approximately $8.49 per square foot on a month to month basis. The Second Largest Tenant, Hennebery Eddy Architects, leases 13,696 square feet of which (i) 13,522 square feet is office space leased for $28.84 per square foot and is set to expire in July 2027 and (ii) 174 square feet is storage space leased for approximately $7.59 per square foot on a month to month basis. The Third Largest Tenant, Sagacity Media Inc., leases 11,936 square feet of which (i) 11,850 square feet is office space leased for $24.13 per square foot and is set to expire in March 2023 and (ii) 86 square feet is storage space leased for approximately $6.28 per square foot on a month to month basis. The Fourth Largest Tenant, Oregon Symphony, leases 10,701 square feet of which (i) 10,229 square feet is office space leased for $25.34 per square foot and is set to expire in October 2023 and (ii) 472 square feet is storage space leased for approximately $6.23 per square foot on a month to month basis.

With respect to Loan. 12, 8670 Wilshire, the Largest Tenant, Cedars-Sinai Medical Center, leases 23,329 square feet that expires on November 30, 2026 and 5,502 square feet that expires on January 31, 2023.

With respect to Loan No. 16, Millennium Corporate Park, the Largest Tenant, Microsoft Corp., representing approximately 89.2% of the net rentable area, leases 199,843 square feet expiring on April 30, 2028, 148,545 square feet expiring on May 31, 2024 and 130,805 square feet expiring on May 31, 2022.
(25) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease with respect to all or a portion of its leased space prior to the expiration date shown. Certain tenants may have the right to reduce or abate rent or terminate all or a portion of their leased spaces for a breach or violation of co-tenancy provisions in the related leases.

With respect to Loan No. 1, 410 Tenth Avenue, (a) the Largest Tenant, Amazon, has the right to terminate its lease with respect to all or, if the floors are contiguous, less than all of its premises (the “Terminated Premises”) effective as of May 29, 2032 (based on assumed first tranche commencement date of March 25, 2021 and first tranche rent commencement date of May 29, 2022) with a 600 days’ prior written notice and the payment of a termination fee equal to the an amount equal to the then unamortized portion (determined on a straight-line basis over the 10 year period commencing on the last rent commencement date) of certain costs associated with the Terminated Premises in accordance with the lease; and (b) the 2nd Largest Tenant, Related, has the right to terminate its lease effective October 31, 2030, October 31, 2035 or October 31, 2040, in each case with 18 months’ prior notice.

With respect to Loan No. 3, Phillips Point, the 2nd Largest Tenant, Akerman, Senterfitt & Eidson, representing approximately 10.8% of the net rentable area, has two, one-time rights to reduce its premises and/or terminate its lease with respect to the entire premises effective October 31, 2023 or April 30, 2026, with nine months’ prior notice and payment of a reduction or termination fee.

With respect to Loan No. 5, Pittock Block, approximately 55.6% of the underwritten rent at the Mortgaged Property is currently leased on month-to-month leases that comprise a large portion of data centers, colocations and “meet-me-rooms” spaces collectively referred to as the Pittock Internet Exchange (“Portland NAP”). The Portland NAP represents approximately 73.0% of the underwritten rent at the Mortgaged Property (excluding rent associated with the new license agreement expected to be signed with a Fortune 10 technology company). The Second Largest Tenant of the Portland NAP by the underwritten colocation and cross connect rent, Facebook, has three separate license agreements for colocation space of which (i) two license agreements collectively representing $1,458,000 in underwritten rent are set to expire in January 2025 and (ii) one license agreement representing $525,600 in underwritten rent is on a month to month basis. The Fourth Largest Tenant of the Portland NAP by the underwritten colocation and cross connect rent, Zayo, has seven separate license agreements for the colocation space of which (i) one license agreement representing $364,152 in underwritten rent is set to expire in December 2022, (ii) two license agreements collectively representing $174,840 in underwritten rent are on a month to month basis, (iii) two license agreements collectively representing $127,296 in underwritten rent are set to expire in March 2021, (iv) one license agreement representing $122,400 in underwritten rent is set to expire in July 2021 and (v) one license agreement representing $112,800 in underwritten rent is set to expire in April 2021. Please see “Annex A-3 – Description of Top Fifteen Mortgage Loans – Pittock Block” for additional information related to the Portland NAP.
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  With respect to Loan No. 6.01, The Galleria Office Towers – Galleria Tower I, the 2nd Largest Tenant, Citigroup Technology, provided no event of default, has a one-time right to terminate either 100.0% or up to 50.0% of its space on June 30, 2025 upon 12 months’ written notice to the landlord. Citigroup Technology will pay an early termination fee.
 
With respect to Loan No. 6.01, The Galleria Office Towers – Galleria Tower I, the 4th Largest Tenant, BKD, LLP, has a one-time right to contract up to the entirety of the 14th floor (9,440 square feet) effective as of April 30, 2024.

With respect to Loan No. 8.01, Boca Office Portfolio – Boardwalk @ 18th, the 2nd Largest Tenant, Carraba’s Tropical Coast, commencing May 1, 2021, if sales from the mortgaged property fall below $2,500,000 for the prior trailing twelve-month period, the tenant will have the option of terminating its lease by written notice to landlord. The lease will terminate 30 days after tenant’s exercise of the early termination option.

With respect to Loan No. 8.03, Boca Office Portfolio – City National Park, the 4th Largest Tenant, Harbinger Capital Group, will have the right to terminate its lease on 60 days prior notice to the landlord.

With respect to Loan No, 8.04, Boca Office Portfolio – Grove Centre, the 2nd Largest Tenant, Kabbalah Center, landlord agrees that no part of the center and no part of the mortgaged property will be used for a spiritual center, or religious institution or any other similar type of business service and landlord will not execute any lease in the center or within any part of the mortgaged property permitting the same. A violation of this provision will constitute material default of landlord entitling the tenant to all rights and remedies at law and in equity including injunctive relief, and the unilateral right of the tenant to terminate its lease, upon 10 days written notice to landlord.

With respect to Loan No, 8.04, Boca Office Portfolio – Grove Centre, the 4th Largest Tenant, Sequoia Insurance, the tenant may return Suite 313 (1,393 square feet) by giving landlord at least 6 months’ prior written notice and by paying the cost of closing the doorway between the adjoining suites. The tenant will also forfeit $3,500 of their security deposit.

With respect to Loan No. 14, Morgan Stanley Tower, The Largest Tenant, Morgan Stanley Smith Barney, has the option to terminate its lease on May 1, 2022 upon 12 months’ notice and payment of a termination fee of $1,087,310 or on May 1, 2025 upon 12 months’ notice and payment of a termination fee of $786,024.

With respect to Loan No. 14, Morgan Stanley Tower, The 3rd Largest Tenant, DCR Loan Servicing, LLC has the right to terminate its lease on July 31, 2025 on nine months’ notice and payment of a $375,000 termination fee.

With respect to Loan No. 19, Orlando Technology Park, the 2nd Largest Tenant, FARO Tech, has a one-time termination option effective on January 1, 2023 with twelve months’ prior notice and a termination payment of approximately $406,408. The 4th Largest Tenant, AOE, has a one-time termination option effective on November 30, 2025 with nine months’ prior written notice and a termination payment that will be amortized based on the straight line method of amortization at an interest rate of 8.0% over a period equal to the length of the term of the lease.

With respect to Loan No. 26, 9633 Westheimer Road, the 2nd Largest Tenant, Tesla Motors TX, Inc., if the tenant does not obtain all approvals - improvement approvals, zoning approvals, licensing approvals - within the initial approvals period of 120 days after commencement date as well as two additional periods of 30 days known as extended approval periods, the tenant, within 10 business days after the expiration of the approvals period, has the right to terminate the lease. If the tenant fails to deliver the termination notice to landlord prior to the expiration of such 10 business day period, tenant will be deemed to have waived its right to terminate the lease.
   
(26) In certain cases, the Principal / Carveout Guarantor name was shortened for spacing purposes or due to the number of parties serving as the Principal / Carveout Guarantor. In the case of certain mortgage loans, the loan documents permit the borrower to replace the Principal / Carveout Guarantor upon satisfaction of certain terms and conditions in the related loan documents.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the guarantors’ liability for full recourse events is several and not joint, and is capped at an amount equal to 10% of the aggregate outstanding principal balance of the MGM Grand & Mandalay Bay Loan Combination as of the date of the event. In addition, only the MGM Grand & Mandalay Bay Borrowers are liable for breaches of environmental covenants; provided, however, that if the MGM Grand & Mandalay Bay Borrowers fail to maintain an environmental insurance policy required under the MGM Grand & Mandalay Bay Loan Combination documents, the guarantors are liable for losses other than (x) for any amounts in excess of the applicable coverage amounts under the environmental policy had the same been renewed, replaced or extended as required under the loan agreement and (y) for any amounts recovered under the environmental policy. In addition, recourse for transfers of the MGM Grand & Mandalay Bay Properties or controlling equity interests in the MGM Grand & Mandalay Bay Borrowers is loss recourse, rather than full recourse.
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  With respect to Loan No. 5, Pittock Block, the carveout guarantor, pursuant to the related non-recourse carveout guaranty agreement, and HSRE Social Infrastructure REIT Holding I, LLC, a Delaware limited liability company, pursuant to a separate guaranty agreement provided solely in connection with the Oregon Enforcement Moratorium (the “Oregon Moratorium Guaranty Agreement”), have each provided (i) a recourse for losses if the lender is actually unable to exercise any remedies set forth in the Mortgage Loan documents (other than a Foreclosure Remedy, as defined below), and (ii) full recourse in the event that, after the occurrence of an event of default, the lender is actually unable to (including, without limitation, if the lender is forced to forbear from) foreclose, appoint a receiver, accept a deed-in-lieu or take any other similar action to dispossess the borrower of the Mortgaged Property in connection with an exercise of remedies under the Mortgage Loan documents (a “Foreclosure Remedy”) as a direct result of the Oregon Enforcement Moratorium.

With respect to Loan No. 15, The Village at Meridian, there is no separate non-recourse carveout guarantor or environmental indemnitor, and the borrower is the sole party responsible for breaches or violations of the nonrecourse carve-out provisions in the related Mortgage Loan documents. At origination of the Mortgage Loan, the borrower obtained an environmental insurance policy issued from Ironshore Specialty Insurance Company in the name of the borrower, with the lender as additional named insured with its successors, assigns and/or affiliates, with per incident and aggregate limits of $10,000,000, a $50,000 per incident self-insured retention and a term expiring on October 5, 2022. The Mortgage Loan documents require that the borrower obtain and maintain a pollution legal liability insurance policy, which, among other conditions, is required to be maintained for a period continuing through 36 months beyond the maturity date of the mortgage loan of February 5, 2031.
  With respect to Loan Nos. 16 and 17, Millennium Corporate Park and 711 Fifth Avenue, in each case, there is no separate non-recourse carveout guarantor and each of the related borrowers is the only indemnitor under the related environmental indemnity agreement. Please see “Description of the Mortgage Pool—Non-Recourse Carveout Limitations” for additional information.
   
(27) The classification of the lockbox and cash management types is described in the Prospectus. See “Description of the Mortgage Pool – Lockbox Accounts” for further details.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, the borrower sent a notice to the lender on February 8, 2021, which provides the borrower expects that, when the lender determines the EBITDAR-to-debt service coverage ratio as of December 31, 2020, a MGM Grand & Mandalay Bay trigger period will occur under the terms of the MGM Grand & Mandalay Bay whole loan documents. Accordingly, the borrower has provided notice to the lender of its desire to elect to deliver an excess cash flow guaranty for the benefit of the lender in lieu of depositing all excess cash flow into a reserve account in accordance with the terms and conditions of the MGM Grand & Mandalay Bay whole loan documents. The borrower proposed (i) BREIT Prime Lease Holdings LLC and (ii) MGM Growth Properties Operating Partnership LP to be the guarantors under the excess cash flow guaranty.

With respect to Loan No. 36, Holiday Inn Philadelphia South, the mortgaged property has experienced reduced revenue in large part from the COVID-19 pandemic, and the debt service coverage ratio has fallen below the threshold below which a cash sweep period is triggered (the “DSCR Trigger”) and the borrower is required to establish a lockbox and a cash management agreement. The lender and the borrower are anticipated to enter into amendments to the mortgage loan documents pursuant to which the lender is expected to temporarily waive the commencement of a cash sweep period triggered by the DSCR Trigger, and the borrower is expected to be required to establish (a) the lockbox account by no later than March 31, 2021, and (b) the cash management account by no later than January 1, 2022.
   
(28) Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Debt—Mezzanine Indebtedness” and “—Other Indebtedness” and “Certain Legal Aspects of the Mortgage Loans” in the Prospectus for information related to mortgage loans with subordinate, mezzanine or other additional debt or preferred equity that permit subordinate, mezzanine or other additional debt in the future.

With respect to Loan No. 2, MGM Grand & Mandalay Bay, The MGM Grand & Mandalay Bay Borrowers have a one-time right to borrow a mezzanine loan subordinate to the MGM Grand & Mandalay Bay Whole Loan, subject to credit and legal criteria specified in the MGM Grand & Mandalay Bay Whole Loan documents, including, without limitation: (i) a combined maximum loan to value ratio (based on appraisals ordered by the lender in connection with the closing of the mezzanine loan and calculated based on the outstanding principal balance of the MGM Grand & Mandalay Bay Whole Loan and the initial principal amount of the mezzanine loan) of 67.0%, (ii) a debt service coverage ratio at the closing of the mezzanine loan at least equal to 4.81x, in each case, inclusive of the additional mezzanine debt and (iii) an intercreditor agreement reasonably satisfactory to the lender. The lender’s receipt of a rating agency confirmation will not be required in connection with the mezzanine loan.
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  With respect to Loan No. 20, Woodbury Crossing Phase II, the mortgaged property has subordinate debt in the form of a $3,120,000 interest-only mezzanine loan from Greystone Servicing Company LLC, and the mezzanine loan is coterminous with the senior loan. See “Description of the Mortgage Loans – Additional Debt” in the Prospectus.
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