8-K 1 n379_x14.htm FORM 8-K Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report:  November 24, 2014
(Date of earliest event reported)
 

 
 
JPMBB Commercial Mortgage Securities Trust 2014-C24
 
 
(Exact name of issuing entity)
 
     
 
JPMorgan Chase Bank, National Association
 
 
Barclays Bank PLC
 
 
KeyBank National Association
 
 
Column Financial, Inc.
 
 
RAIT Funding, LLC
 
 
General Electric Capital Corporation
 
 
(Exact name of sponsor as specified in its charter)
 
     
 
J.P. Morgan Chase Commercial Mortgage Securities Corp.
 
 
(Exact name of registrant as specified in its charter)
 

New York
333-190246-09
13-3789046
(State or other jurisdiction of incorporation)
(Commission File No.)
(IRS Employer Identification No.)


383 Madison Avenue
 
New York, New York
10179
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code    (212) 272-6858
 

 
Not Applicable
 
 
(Former name or former address, if changed since last report.)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 

o
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
o
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
o
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 
 

 

 

Item 1.01.                      Entry into a Material Definitive Agreement.
 
On October 22, 2014, J.P. Morgan Chase Commercial Mortgage Securities Corp. (the “Depositor”) caused the issuance of the JPMBB Commercial Mortgage Securities Trust 2014-C24, Commercial Mortgage Pass-Through Certificates, Series 2014-C24 (the “Certificates”), pursuant to a Pooling and Servicing Agreement, dated as of October 1, 2014 (the “Pooling and Servicing Agreement”), among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor (the “Registrant”), Wells Fargo Bank, National Association, as master servicer and as certificate administrator, LNR Partners, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor.
 
The Certificates represent, in the aggregate, the entire beneficial ownership in JPMBB Commercial Mortgage Securities Trust 2014-C24 (the “Issuing Entity”), a common law trust fund formed under the laws of the State of New York pursuant to the Pooling and Servicing Agreement.  The assets of the Issuing Entity consist primarily of 54 fixed-rate mortgage loans (the “Mortgage Loans”) and one trust subordinate companion loan (the “ESK Companion Loan”) secured by first liens on 64 commercial, multifamily and manufactured housing properties.
 
The Mortgage Loan identified as “Hilton Houston Post Oak” on Exhibit B to the Pooling and Servicing Agreement (the “Hilton Houston Post Oak Mortgage Loan”), which is an asset of the Issuing Entity, is part of a loan combination (the “Hilton Houston Post Oak Loan Combination”) that includes the Hilton Houston Post Oak Mortgage Loan and one other pari passu loan which is not an asset of the Issuing Entity (the “Hilton Houston Post Oak Companion Loan”).  The Hilton Houston Post Oak Loan Combination, including the Hilton Houston Post Oak Mortgage Loan, is being serviced and administered under a pooling and servicing agreement, dated as of November 1, 2014 (the “JPMBB 2014-C25 Pooling and Servicing Agreement”), among the Depositor, as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor, relating to the JPMBB Commercial Mortgage Securities Trust 2014-C25 securitization transaction into which the Hilton Houston Post Oak Companion Loan was deposited.  An execution copy of the JPMBB 2014-C25 Pooling and Servicing Agreement is attached hereto as Exhibit 1.1.
 
As disclosed in the Prospectus Supplement filed by the Issuing Entity pursuant to Rule 424(b)(5) with respect to the Certificates on October 22, 2014 (the “Prospectus Supplement”), the terms and conditions of the JPMBB 2014-C25 Pooling and Servicing Agreement applicable to the servicing of the Hilton Houston Post Oak Mortgage Loan are substantially similar to the terms and conditions of the Pooling and Servicing Agreement, as described under “Servicing of the Mortgage Loans” in the Prospectus Supplement, applicable to the servicing of the other Mortgage Loans.
 


 
 

 

 
Item 9.01.   Financial Statements, Pro Forma Financial Information and Exhibits.
 
(c)           Exhibits
 
Exhibit 1.1
Pooling and Servicing Agreement, dated as of November 1, 2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor.
 


 
 

 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Date:  November 24, 2014
 
J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
       
   
By:    
/s/  Bianca A. Russo
       
   
Name: Bianca A. Russo
       
   
Title: Managing Director and Secretary


 
 

 

 
INDEX TO EXHIBITS
Item 601(a) of
Regulation S-K
Exhibit No.
 
Description
Paper (P) or
Electronic (E)
       
1.1
 
Pooling and Servicing Agreement, dated as of November 1, 2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer and as certificate administrator, Rialto Capital Advisors, LLC, as special servicer, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as senior trust advisor.
(E)