FWP 1 n1496_anxa-x3.htm FREE WRITING PROSPECTUS

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    REGISTRATION FILE NO.: 333-226082-01
     

 

 

 

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The securities offered by these materials are being offered when, as and if issued. In particular, you are advised that the offered securities, and the asset pool backing them, are subject to modification or revision (including, among other things, the possibility that one or more classes of securities may be split, combined or eliminated) at any time prior to issuance or availability of a final prospectus.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-226082) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., Academy Securities, Inc., Drexel Hamilton, LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-471-2526 or if you email a request to prospectus-ny@gs.com.

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GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Originator Mortgage Loan Seller Related Group Crossed Group Address City State Zip Code General
Property Type		 Detailed
Property Type		 Year Built
1 Loan 8, 9, 10, 11, 12, 13 365 Bond GSBI GSMC NAP NAP 365 Bond Street Brooklyn New York 11231 Multifamily High-Rise 2016
2 Loan 14, 15, 16 Torrance Towne Center GSMC GSMC NAP NAP 25343-25385 Crenshaw Boulevard and 2731-2795 Pacific Coast Highway Torrance California 90505 Retail Anchored 1958, 1986, 2003
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ CREFI CREFI NAP NAP 540 West 25th Street New York New York 10001 Mixed Use Office/Gallery 2018
4 Loan   Heitman Life Storage Portfolio GSMC GSMC NAP NAP              
4.01 Property   East Elliot Road         375 East Elliot Road Gilbert Arizona 85234 Self Storage Self Storage 1995
4.02 Property   FM 1431         3997 FM 1431 Round Rock Texas 78681 Self Storage Self Storage 2006
4.03 Property   Rayford Road         3411 Rayford Road Spring Texas 77386 Self Storage Self Storage 2007
4.04 Property   East Cornwallis Road         1200 East Cornwallis Road Durham North Carolina 27713 Self Storage Self Storage 1992
4.05 Property   McNeil Drive         5547 McNeil Drive Austin Texas 78729 Self Storage Self Storage 1994
4.06 Property   FM 2222         10307 FM 2222 Austin Texas 78730 Self Storage Self Storage 1996
4.07 Property   South Congress Avenue         1099 South Congress Avenue Delray Beach Florida 33445 Self Storage Self Storage 1969
4.08 Property   Westheimer Road         12711 Westheimer Road Houston Texas 77077 Self Storage Self Storage 1996
4.09 Property   Shell Road         4929 Shell Road Virginia Beach Virginia 23455 Self Storage Self Storage 1991
4.10 Property   Southwest Military Drive         3343 Southwest Military Drive San Antonio Texas 78211 Self Storage Self Storage 1980
4.11 Property   Old Denton Road         2300 Old Denton Road Carrollton Texas 75006 Self Storage Self Storage 1996
4.12 Property   West Camelback Road         3641 West Camelback Road Phoenix Arizona 85019 Self Storage Self Storage 1984
5 Loan 21, 22 Albertsons Industrial - IL GSMC GSMC Group 1 NAP 1955 West North Avenue Melrose Park Illinois 60160 Industrial Warehouse/Distribution 1955
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 GSMC GSMC NAP NAP 400-600 20th Street San Francisco California 94107 Mixed Use Office/Industrial 1885-1941
7 Loan   Perimeter Square GSMC GSMC NAP NAP 130 Perimeter Center West Atlanta Georgia 30346 Retail Anchored 1994
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue CREFI CREFI NAP NAP 3 Park Avenue New York New York 10016 Office CBD 1977
9 Loan 36 Residence Inn Chula Vista GSMC GSMC NAP NAP 2005 Centerpark Road Chula Vista California 91915 Hospitality Extended Stay 2017
10 Loan 9, 37, 38 145 Clinton GSMC GSMC Group 2 NAP 145 Clinton Street New York New York 10002 Retail Anchored 2018
11 Loan 39, 40 Vee Pak Industrial Portfolio CREFI CREFI NAP NAP              
11.01 Property   6710 River Road         6710 River Road Hodgkins Illinois 60525 Industrial Warehouse 2006
11.02 Property   5300-5320 Dansher Road         5300-5320 Dansher Road Countryside Illinois 60525 Industrial Warehouse 1970
11.03 Property   5321-5331 Dansher Road         5321-5331 Dansher Road Countryside Illinois 60525 Industrial Manufacturing 1965
12 Loan 41, 42 Moxy Denver Cherry Creek GSMC GSMC NAP NAP 240 Josephine Street Denver Colorado 80206 Hospitality Select Service 2017
13 Loan 43, 44 North Miami Business Park CREFI CREFI NAP NAP 1922 Northeast 149th Street North Miami Florida 33181 Mixed Use Industrial/Office/Self Storage 1972-1978
14 Loan   Dublin Office Portfolio GSMC GSMC NAP NAP              
14.01 Property   Parkwood II         5900 Parkwood Place Dublin Ohio 43016 Office General Suburban 1999
14.02 Property 45 Emerald III         6500 Emerald Parkway Dublin Ohio 43016 Office General Suburban 1995
15 Loan 9, 46, 47 5444 & 5430 Westheimer GSMC GSMC NAP NAP 5444 & 5430 Westheimer Road Houston Texas 77056 Office General Suburban 1979, 1981
16 Loan 48, 49 PPC Flexible Packaging Portfolio GSMC GSMC NAP NAP              
16.01 Property   PPC Payson         213 Temkin Way Payson Utah 84651 Industrial Manufacturing 1997, 2000
16.02 Property   PPC Rome         2 Superior Drive Southeast Rome Georgia 30161 Industrial Manufacturing 1991
17 Loan   Life Time - Fort Worth GSMC GSMC NAP NAP 10761 Founders Way Fort Worth Texas 76177 Retail Single Tenant Retail 2017
18 Loan 50 Mercury Drive GSMC GSMC NAP NAP 6000, 6100 & 6200 Mercury Drive Dearborn Michigan 48126 Office Suburban Flex 1998
19 Loan 9 Albertsons Industrial - PA GSMC GSMC Group 1 NAP 500 South Muddy Creek Road Denver Pennsylvania 17517 Industrial Warehouse/Distribution 1999
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio CREFI CREFI NAP NAP              
20.01 Property   Oak Brook Gateway         1111 West 22nd Street Oak Brook Illinois 60523 Office General Suburban 1984
20.02 Property   Cornerstone I at Cantera         4320 Winfield Road Warrenville Illinois 60555 Office General Suburban 1998
21 Loan   Jefferson Grove GSBI GSMC NAP NAP 1101 Pin Oak Lane Blacklick Ohio 43004 Multifamily Garden 2018
22 Loan 53 WoodSpring Orlando Portfolio GSMC GSMC NAP NAP              
22.01 Property   WoodSpring Suites Clermont         16311 SR 50 Clermont Florida 34711 Hospitality Extended Stay 2007
22.02 Property   WoodSpring Suites Clarcona         4125 Clarcona Ocoee Road Orlando Florida 32810 Hospitality Extended Stay 2007
23 Loan   Bennington Square Apartments GSBI GSMC NAP NAP 6300 West Bellfort Avenue Houston Texas 77035 Multifamily Garden 1977
24 Loan 54 Mission Point Office GSMC GSMC NAP NAP 2601 Mission Point Boulevard Beavercreek Ohio 45431 Office General Suburban 2008
25 Loan   Franklin Commons GSMC GSMC NAP NAP 1010-1080 North Morton Street Franklin Indiana 46131 Retail Shadow Anchored 2017
26 Loan 55 1933 North Meacham GSMC GSMC NAP NAP 1933 North Meacham Road Schaumburg Illinois 60173 Office General Suburban 1985
27 Loan   Craig Promenade GSMC GSMC NAP NAP 655-775 West Craig Road North Las Vegas Nevada 89032 Retail Anchored 2005
28 Loan 56 Essex Crossing Site 6 GSMC GSMC Group 2 NAP 175 Delancey Street New York New York 10002 Office CBD 2017
29 Loan   Church Ranch II GSMC GSMC NAP NAP 10249 Church Ranch Way Westminster Colorado 80021 Office General Suburban 2000
30 Loan   All Storage Fort Worth GSMC GSMC Group 3 NAP 201 South Jim Wright Freeway White Settlement Texas 76108 Self Storage Self Storage 2002
31 Loan   All Storage Mayfield GSMC GSMC Group 3 NAP 3000 South Watson Road Arlington Texas 76014 Self Storage Self Storage 2016
32 Loan   New Albany Market GSMC GSMC NAP NAP 5477-5535 New Albany Road West New Albany Ohio 43054 Retail Shadow Anchored 2007
33 Loan   Airport Plaza GSMC GSMC NAP NAP 2800 Gillespie Street Fayetteville North Carolina 28306 Retail Shadow Anchored 2016
34 Loan   All Storage McCart GSMC GSMC Group 3 NAP 3500 McCart Avenue Fort Worth Texas 76110 Self Storage Self Storage 1924
35 Loan   Weis Plaza GSMC GSMC NAP NAP 15260 Kutztown Road Kutztown Pennsylvania 19530 Retail Anchored 1972
36 Loan   Storage Sense Colorado Springs CREFI CREFI NAP NAP 2702 East Yampa Street and 1012 Hathaway Drive Colorado Springs Colorado 80909 Self Storage Self Storage 1996

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Year Renovated Units, Rooms, Sq Ft Unit Description Loan Per Unit ($) Ownership Interest Original Balance ($) Cut-off Date Balance ($) Allocated Cut-off Date Loan Amount ($) % of Initial Pool Balance Balloon Balance ($) Mortgage Loan Rate (%) Administrative Cost Rate (%) (1) Net Mortgage
Loan Rate (%)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond NAP 430 Units 255,813.95 Fee Simple 65,000,000 65,000,000 65,000,000 8.6% 65,000,000 4.02277182% 0.01701% 4.00576182%
2 Loan 14, 15, 16 Torrance Towne Center NAP 265,538 SF 195.83 Leasehold 52,000,000 52,000,000 52,000,000 6.9% 52,000,000 4.77800% 0.04451% 4.73349%
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ NAP 74,563 SF 1,207.03 Fee Simple 50,000,000 50,000,000 50,000,000 6.6% 50,000,000 5.15000% 0.01701% 5.13299%
4 Loan   Heitman Life Storage Portfolio   772,483 SF 58.71   45,350,000 45,350,000 45,350,000 6.0% 45,350,000 4.40800% 0.01701% 4.39099%
4.01 Property   East Elliot Road 2006 71,823 SF   Fee Simple     5,220,000          
4.02 Property   FM 1431 NAP 99,292 SF   Fee Simple     4,942,000          
4.03 Property   Rayford Road NAP 65,540 SF   Fee Simple     4,893,000          
4.04 Property   East Cornwallis Road NAP 78,185 SF   Fee Simple     4,790,000          
4.05 Property   McNeil Drive NAP 93,212 SF   Fee Simple     4,557,000          
4.06 Property   FM 2222 NAP 58,953 SF   Fee Simple     3,653,000          
4.07 Property   South Congress Avenue 1978 51,637 SF   Fee Simple     3,553,000          
4.08 Property   Westheimer Road NAP 57,531 SF   Fee Simple     2,930,000          
4.09 Property   Shell Road 1998 52,722 SF   Fee Simple     2,901,000          
4.10 Property   Southwest Military Drive NAP 48,657 SF   Fee Simple     2,883,000          
4.11 Property   Old Denton Road NAP 51,431 SF   Fee Simple     2,616,000          
4.12 Property   West Camelback Road NAP 43,500 SF   Fee Simple     2,412,000          
5 Loan 21, 22 Albertsons Industrial - IL 2000 1,561,613 SF 26.51 Fee Simple 41,400,000 41,400,000 41,400,000 5.5% 41,400,000 3.86000% 0.01701% 3.84299%
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 2019 322,814 SF 356.24 Leasehold 35,000,000 35,000,000 35,000,000 4.6% 35,000,000 4.87800% 0.02701% 4.85099%
7 Loan   Perimeter Square NAP 186,059 SF 188.11 Fee Simple 35,000,000 35,000,000 35,000,000 4.6% 35,000,000 5.54550% 0.01701% 5.52849%
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 2001 667,446 SF 272.68 Fee Simple 34,000,000 34,000,000 34,000,000 4.5% 34,000,000 4.75000% 0.01576% 4.73424%
9 Loan 36 Residence Inn Chula Vista NAP 148 Rooms 195,562.11 Fee Simple 29,000,000 28,943,192 28,943,192 3.8% 24,113,753 5.35000% 0.01701% 5.33299%
10 Loan 9, 37, 38 145 Clinton NAP 67,217 SF 1,014.62 Fee Simple 28,200,000 28,200,000 28,200,000 3.7% 28,200,000 4.96500% 0.01701% 4.94799%
11 Loan 39, 40 Vee Pak Industrial Portfolio   546,591 SF 49.11   26,845,000 26,845,000 26,845,000 3.5% 26,845,000 4.89000% 0.01701% 4.87299%
11.01 Property   6710 River Road NAP 300,000 SF   Fee Simple     16,000,000          
11.02 Property   5300-5320 Dansher Road 2018 161,591 SF   Fee Simple     6,400,000          
11.03 Property   5321-5331 Dansher Road 2013 85,000 SF   Fee Simple     4,445,000          
12 Loan 41, 42 Moxy Denver Cherry Creek NAP 170 Rooms 147,058.82 Leasehold 25,000,000 25,000,000 25,000,000 3.3% 25,000,000 5.06000% 0.01701% 5.04299%
13 Loan 43, 44 North Miami Business Park NAP 214,568 SF 102.53 Fee Simple 22,000,000 22,000,000 22,000,000 2.9% 22,000,000 4.97000% 0.01701% 4.95299%
14 Loan   Dublin Office Portfolio   293,180 SF 74.88   22,000,000 21,953,985 21,953,985 2.9% 18,134,178 5.07700% 0.01701% 5.05999%
14.01 Property   Parkwood II NAP 164,900 SF   Fee Simple                
14.02 Property 45 Emerald III NAP 128,280 SF   Fee Simple                
15 Loan 9, 46, 47 5444 & 5430 Westheimer 2013 404,762 SF 126.00 Fee Simple 21,000,000 21,000,000 21,000,000 2.8% 21,000,000 4.72000% 0.02701% 4.69299%
16 Loan 48, 49 PPC Flexible Packaging Portfolio   474,299 SF 40.69   19,300,000 19,300,000 19,300,000 2.6% 17,774,392 4.90000% 0.01701% 4.88299%
16.01 Property   PPC Payson NAP 379,627 SF   Fee Simple     16,496,284          
16.02 Property   PPC Rome NAP 94,672 SF   Fee Simple     2,803,716          
17 Loan   Life Time - Fort Worth NAP 123,359 SF 155.64 Fee Simple 19,200,000 19,200,000 19,200,000 2.5% 19,200,000 4.92150% 0.01701% 4.90449%
18 Loan 50 Mercury Drive 2017 193,463 SF 98.11 Fee Simple 19,000,000 18,980,140 18,980,140 2.5% 15,656,512 5.07000% 0.01701% 5.05299%
19 Loan 9 Albertsons Industrial - PA 2018 1,539,407 SF 49.85 Fee Simple 15,000,000 15,000,000 15,000,000 2.0% 15,000,000 5.04000% 0.01701% 5.02299%
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio   385,525 SF 123.86   15,000,000 15,000,000 15,000,000 2.0% 12,925,446 4.84000% 0.01576% 4.82424%
20.01 Property   Oak Brook Gateway NAP 233,050 SF   Fee Simple     10,130,890          
20.02 Property   Cornerstone I at Cantera NAP 152,475 SF   Fee Simple     4,869,110          
21 Loan   Jefferson Grove NAP 116 Units 125,000.00 Fee Simple 14,500,000 14,500,000 14,500,000 1.9% 13,363,627 4.95000% 0.01701% 4.93299%
22 Loan 53 WoodSpring Orlando Portfolio   226 Rooms 57,309.42   13,000,000 12,951,929 12,951,929 1.7% 12,124,894 5.78100% 0.01701% 5.76399%
22.01 Property   WoodSpring Suites Clermont 2017 121 Rooms   Fee Simple     7,173,376          
22.02 Property   WoodSpring Suites Clarcona 2017 105 Rooms   Fee Simple     5,778,553          
23 Loan   Bennington Square Apartments 2012-2014 313 Units 39,616.61 Fee Simple 12,400,000 12,400,000 12,400,000 1.6% 11,454,098 5.10000% 0.05701% 5.04299%
24 Loan 54 Mission Point Office NAP 91,232 SF 122.94 Fee Simple 11,250,000 11,215,872 11,215,872 1.5% 9,380,262 5.44000% 0.06451% 5.37549%
25 Loan   Franklin Commons NAP 85,980 SF 116.89 Fee Simple 10,050,000 10,050,000 10,050,000 1.3% 9,298,385 5.20450% 0.01701% 5.18749%
26 Loan 55 1933 North Meacham 2016, 2018 142,164 SF 68.23 Fee Simple 9,700,000 9,700,000 9,700,000 1.3% 8,946,053 4.99400% 0.01701% 4.97699%
27 Loan   Craig Promenade NAP 81,057 SF 119.24 Fee Simple 9,675,000 9,665,430 9,665,430 1.3% 8,031,439 5.30000% 0.01701% 5.28299%
28 Loan 56 Essex Crossing Site 6 NAP 28,630 SF 305.62 Fee Simple 8,750,000 8,750,000 8,750,000 1.2% 8,750,000 5.50000% 0.01701% 5.48299%
29 Loan   Church Ranch II 2017 63,057 SF 128.60 Fee Simple 8,125,000 8,109,316 8,109,316 1.1% 6,768,762 5.41000% 0.01701% 5.39299%
30 Loan   All Storage Fort Worth 2015 141,405 SF 53.04 Fee Simple 7,500,000 7,500,000 7,500,000 1.0% 7,500,000 4.71700% 0.01701% 4.69999%
31 Loan   All Storage Mayfield NAP 138,970 SF 50.37 Fee Simple 7,000,000 7,000,000 7,000,000 0.9% 7,000,000 4.71700% 0.01701% 4.69999%
32 Loan   New Albany Market NAP 34,708 SF 183.59 Fee Simple 6,372,000 6,372,000 6,372,000 0.8% 5,555,634 5.30800% 0.05701% 5.25099%
33 Loan   Airport Plaza NAP 41,000 SF 147.26 Fee Simple 6,037,500 6,037,500 6,037,500 0.8% 5,233,026 5.07000% 0.02701% 5.04299%
34 Loan   All Storage McCart 2014 154,514 SF 35.60 Fee Simple 5,500,000 5,500,000 5,500,000 0.7% 5,500,000 4.83700% 0.01701% 4.81999%
35 Loan   Weis Plaza 2006 115,340 SF 47.69 Fee Simple 5,500,000 5,500,000 5,500,000 0.7% 4,585,395 5.44000% 0.01701% 5.42299%
36 Loan   Storage Sense Colorado Springs NAP 32,945 SF 61.31 Fee Simple 2,020,000 2,020,000 2,020,000 0.3% 1,805,203 5.45000% 0.01701% 5.43299%

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Monthly Debt Service ($) (2) Annual Debt Service ($) Pari Passu Companion Loan Monthly Debt Service ($) Pari Passu Companion Loan Annual Debt Service ($) Amortization Type Interest Accrual Method Seasoning Original
Interest-Only
Period (Mos.)		 Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity /
ARD (Mos.)		 Original Amortization Term (Mos.) Remaining Amortization Term (Mos.)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 220,926.53 2,651,118.36 152,949.14 1,835,389.68 Interest Only Actual/360 2 60 58 60 58 0 0
2 Loan 14, 15, 16 Torrance Towne Center 209,922.31 2,519,067.72     Interest Only Actual/360 2 120 118 120 118 0 0
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 217,563.66 2,610,763.92 174,050.92 2,088,611.04 Interest Only Actual/360 0 120 120 120 120 0 0
4 Loan   Heitman Life Storage Portfolio 168,899.36 2,026,792.32     Interest Only Actual/360 1 120 119 120 119 0 0
4.01 Property   East Elliot Road                          
4.02 Property   FM 1431                          
4.03 Property   Rayford Road                          
4.04 Property   East Cornwallis Road                          
4.05 Property   McNeil Drive                          
4.06 Property   FM 2222                          
4.07 Property   South Congress Avenue                          
4.08 Property   Westheimer Road                          
4.09 Property   Shell Road                          
4.10 Property   Southwest Military Drive                          
4.11 Property   Old Denton Road                          
4.12 Property   West Camelback Road                          
5 Loan 21, 22 Albertsons Industrial - IL 135,019.58 1,620,234.96     Interest Only - ARD Actual/360 1 120 119 120 119 0 0
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 144,251.04 1,731,012.48 329,716.67 3,956,600.04 Interest Only Actual/360 4 120 116 120 116 0 0
7 Loan   Perimeter Square 163,990.19 1,967,882.28     Interest Only Actual/360 3 120 117 120 117 0 0
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 136,452.55 1,637,430.60 593,969.90 7,127,638.80 Interest Only Actual/360 2 120 118 120 118 0 0
9 Loan 36 Residence Inn Chula Vista 161,939.97 1,943,279.64     Amortizing Actual/360 2 0 0 120 118 360 358
10 Loan 9, 37, 38 145 Clinton 118,298.02 1,419,576.24 167,798.61 2,013,583.32 Interest Only Actual/360 2 120 118 120 118 0 0
11 Loan 39, 40 Vee Pak Industrial Portfolio 110,912.73 1,330,952.76     Interest Only Actual/360 0 120 120 120 120 0 0
11.01 Property   6710 River Road                          
11.02 Property   5300-5320 Dansher Road                          
11.03 Property   5321-5331 Dansher Road                          
12 Loan 41, 42 Moxy Denver Cherry Creek 106,880.79 1,282,569.48     Interest Only Actual/360 1 120 119 120 119 0 0
13 Loan 43, 44 North Miami Business Park 92,382.18 1,108,586.16     Interest Only Actual/360 0 120 120 120 120 0 0
14 Loan   Dublin Office Portfolio 119,138.22 1,429,658.64     Amortizing Actual/360 2 0 0 120 118 360 358
14.01 Property   Parkwood II                          
14.02 Property 45 Emerald III                          
15 Loan 9, 46, 47 5444 & 5430 Westheimer 83,747.22 1,004,966.64 119,638.89 1,435,666.68 Interest Only Actual/360 3 120 117 120 117 0 0
16 Loan 48, 49 PPC Flexible Packaging Portfolio 102,430.26 1,229,163.12     Interest Only, Then Amortizing Actual/360 1 60 59 120 119 360 360
16.01 Property   PPC Payson                          
16.02 Property   PPC Rome                          
17 Loan   Life Time - Fort Worth 79,837.67 958,052.04     Interest Only Actual/360 0 120 120 120 120 0 0
18 Loan 50 Mercury Drive 102,810.49 1,233,725.88     Amortizing - ARD Actual/360 1 0 0 120 119 360 359
19 Loan 9 Albertsons Industrial - PA 63,875.00 766,500.00 262,877.56 3,154,530.72 Interest Only Actual/360 1 120 119 120 119 0 0
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 79,062.88 948,754.56 172,620.62 2,071,447.44 Interest Only, Then Amortizing Actual/360 2 24 22 120 118 360 360
20.01 Property   Oak Brook Gateway                          
20.02 Property   Cornerstone I at Cantera                          
21 Loan   Jefferson Grove 77,396.65 928,759.80     Interest Only, Then Amortizing Actual/360 0 60 60 120 120 360 360
22 Loan 53 WoodSpring Orlando Portfolio 76,120.68 913,448.16     Amortizing Actual/360 4 0 0 60 56 360 356
22.01 Property   WoodSpring Suites Clermont                          
22.02 Property   WoodSpring Suites Clarcona                          
23 Loan   Bennington Square Apartments 67,325.77 807,909.24     Interest Only, Then Amortizing Actual/360 0 60 60 120 120 360 360
24 Loan 54 Mission Point Office 63,453.40 761,440.80     Amortizing Actual/360 3 0 0 120 117 360 357
25 Loan   Franklin Commons 55,213.58 662,562.96     Interest Only, Then Amortizing Actual/360 2 60 58 120 118 360 360
26 Loan 55 1933 North Meacham 52,036.13 624,433.56     Interest Only, Then Amortizing Actual/360 1 60 59 120 119 360 360
27 Loan   Craig Promenade 53,725.73 644,708.76     Amortizing Actual/360 1 0 0 120 119 360 359
28 Loan 56 Essex Crossing Site 6 40,661.17 487,934.04     Interest Only Actual/360 1 120 119 120 119 0 0
29 Loan   Church Ranch II 45,675.11 548,101.32     Amortizing Actual/360 2 0 0 120 118 360 358
30 Loan   All Storage Fort Worth 29,890.71 358,688.52     Interest Only Actual/360 2 120 118 120 118 0 0
31 Loan   All Storage Mayfield 27,898.00 334,776.00     Interest Only Actual/360 2 120 118 120 118 0 0
32 Loan   New Albany Market 35,415.68 424,988.16     Interest Only, Then Amortizing Actual/360 2 24 22 120 118 360 360
33 Loan   Airport Plaza 32,669.39 392,032.68     Interest Only, Then Amortizing Actual/360 2 24 22 120 118 360 360
34 Loan   All Storage McCart 22,477.49 269,729.88     Interest Only Actual/360 2 120 118 120 118 0 0
35 Loan   Weis Plaza 31,021.66 372,259.92     Amortizing Actual/360 0 0 0 120 120 360 360
36 Loan   Storage Sense Colorado Springs 11,406.05 136,872.60     Interest Only, Then Amortizing Actual/360 0 36 36 120 120 360 360

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Origination Date Due Date First Due Date Last IO Due Date First P&I Due Date Maturity
Date / ARD		 ARD
(Yes / No)		 Final Maturity Date Grace Period- Late Fee Grace Period- Default Prepayment Provision (3)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 11/28/2018 6 1/6/2019 12/6/2023   12/6/2023 No   0 0 Lockout/26_Defeasance/30_0%/4
2 Loan 14, 15, 16 Torrance Towne Center 11/29/2018 6 1/6/2019 12/6/2028   12/6/2028 No   0 0 Lockout/26_>YM or 1%/90_0%/4
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 1/23/2019 6 3/6/2019 2/6/2029   2/6/2029 No   0 0 Lockout/24_Defeasance or >YM or 1%/93_0%/3
4 Loan   Heitman Life Storage Portfolio 12/19/2018 6 2/6/2019 1/6/2029   1/6/2029 No   0 0 Lockout/25_Defeasance/91_0%/4
4.01 Property   East Elliot Road                      
4.02 Property   FM 1431                      
4.03 Property   Rayford Road                      
4.04 Property   East Cornwallis Road                      
4.05 Property   McNeil Drive                      
4.06 Property   FM 2222                      
4.07 Property   South Congress Avenue                      
4.08 Property   Westheimer Road                      
4.09 Property   Shell Road                      
4.10 Property   Southwest Military Drive                      
4.11 Property   Old Denton Road                      
4.12 Property   West Camelback Road                      
5 Loan 21, 22 Albertsons Industrial - IL 1/2/2019 6 2/6/2019 1/6/2029   1/6/2029 Yes 1/6/2034 0 0 Lockout/11_>YM or 1%/105_0%/4
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 9/26/2018 6 11/6/2018 10/6/2028   10/6/2028 No   5 0 Lockout/28_Defeasance/88_0%/4
7 Loan   Perimeter Square 10/10/2018 6 12/6/2018 11/6/2028   11/6/2028 No   0 0 Lockout/27_>YM or 1%/89_0%/4
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 11/30/2018 6 1/6/2019 12/6/2028   12/6/2028 No   0 0 Lockout/26_Defeasance/87_0%/7
9 Loan 36 Residence Inn Chula Vista 12/6/2018 6 1/6/2019   1/6/2019 12/6/2028 No   0 0 Lockout/26_Defeasance/89_0%/5
10 Loan 9, 37, 38 145 Clinton 11/19/2018 6 1/6/2019 12/6/2028   12/6/2028 No   2 0 Lockout/26_Defeasance/90_0%/4
11 Loan 39, 40 Vee Pak Industrial Portfolio 1/17/2019 6 3/6/2019 2/6/2029   2/6/2029 No   0 0 Lockout/24_Defeasance or >YM or 1%/90_0%/6
11.01 Property   6710 River Road                      
11.02 Property   5300-5320 Dansher Road                      
11.03 Property   5321-5331 Dansher Road                      
12 Loan 41, 42 Moxy Denver Cherry Creek 12/21/2018 6 2/6/2019 1/6/2029   1/6/2029 No   0 3 days grace, once per trailing 12-month period, monthly payments of debt service only Lockout/25_Defeasance/91_0%/4
13 Loan 43, 44 North Miami Business Park 1/17/2019 6 3/6/2019 2/6/2029   2/6/2029 No   0 0 Lockout/24_Defeasance/92_0%/4
14 Loan   Dublin Office Portfolio 12/6/2018 6 1/6/2019   1/6/2019 12/6/2028 No   0 0 Lockout/26_Defeasance/87_0%/7
14.01 Property   Parkwood II                      
14.02 Property 45 Emerald III                      
15 Loan 9, 46, 47 5444 & 5430 Westheimer 10/23/2018 6 12/6/2018 11/6/2028   11/6/2028 No   0 0 Lockout/27_>YM or 1%/88_0%/5
16 Loan 48, 49 PPC Flexible Packaging Portfolio 12/7/2018 6 2/6/2019 1/6/2024 2/6/2024 1/6/2029 No   0 0 Lockout/25_Defeasance/91_0%/4
16.01 Property   PPC Payson                      
16.02 Property   PPC Rome                      
17 Loan   Life Time - Fort Worth 1/29/2019 6 3/6/2019 2/6/2029   2/6/2029 No   0 0 Lockout/24_Defeasance/92_0%/4
18 Loan 50 Mercury Drive 12/31/2018 6 2/6/2019   2/6/2019 1/6/2029 Yes 1/6/2032 0 0 Lockout/25_Defeasance/91_0%/4
19 Loan 9 Albertsons Industrial - PA 1/2/2019 6 2/6/2019 1/6/2029   1/6/2029 No   0 0 Lockout/11_>YM or 1%/105_0%/4
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 11/30/2018 6 1/6/2019 12/6/2020 1/6/2021 12/6/2028 No   0 0 Lockout/26_Defeasance/90_0%/4
20.01 Property   Oak Brook Gateway                      
20.02 Property   Cornerstone I at Cantera                      
21 Loan   Jefferson Grove 1/18/2019 6 3/6/2019 2/6/2024 3/6/2024 2/6/2029 No   0 0 Lockout/24_Defeasance/92_0%/4
22 Loan 53 WoodSpring Orlando Portfolio 9/14/2018 6 11/6/2018   11/6/2018 10/6/2023 No   0 0 Lockout/28_>YM or 3%/29_0%/3
22.01 Property   WoodSpring Suites Clermont                      
22.02 Property   WoodSpring Suites Clarcona                      
23 Loan   Bennington Square Apartments 1/29/2019 6 3/6/2019 2/6/2024 3/6/2024 2/6/2029 No   0 0 Lockout/24_>YM or 1%/92_0%/4
24 Loan 54 Mission Point Office 10/24/2018 6 12/6/2018   12/6/2018 11/6/2028 No   0 0 Lockout/27_Defeasance/89_0%/4
25 Loan   Franklin Commons 11/7/2018 6 1/6/2019 12/6/2023 1/6/2024 12/6/2028 No   0 0 Lockout/26_Defeasance/90_0%/4
26 Loan 55 1933 North Meacham 12/7/2018 6 2/6/2019 1/6/2024 2/6/2024 1/6/2029 No   0 0 Lockout/25_Defeasance/90_0%/5
27 Loan   Craig Promenade 12/14/2018 6 2/6/2019   2/6/2019 1/6/2029 No   0 0 Lockout/25_Defeasance/91_0%/4
28 Loan 56 Essex Crossing Site 6 12/17/2018 6 2/6/2019 1/6/2029   1/6/2029 No   0 0 Lockout/25_Defeasance/91_0%/4
29 Loan   Church Ranch II 11/13/2018 6 1/6/2019   1/6/2019 12/6/2028 No   0 0 Lockout/26_Defeasance/90_0%/4
30 Loan   All Storage Fort Worth 11/29/2018 6 1/6/2019 12/6/2028   12/6/2028 No   0 0 Lockout/26_Defeasance/89_0%/5
31 Loan   All Storage Mayfield 11/29/2018 6 1/6/2019 12/6/2028   12/6/2028 No   0 0 Lockout/26_Defeasance/89_0%/5
32 Loan   New Albany Market 11/19/2018 6 1/6/2019 12/6/2020 1/6/2021 12/6/2028 No   0 0 Lockout/26_Defeasance/89_0%/5
33 Loan   Airport Plaza 11/20/2018 6 1/6/2019 12/6/2020 1/6/2021 12/6/2028 No   15 0 Lockout/26_Defeasance/89_0%/5
34 Loan   All Storage McCart 11/29/2018 6 1/6/2019 12/6/2028   12/6/2028 No   0 0 Lockout/26_Defeasance/89_0%/5
35 Loan   Weis Plaza 1/22/2019 6 3/6/2019   3/6/2019 2/6/2029 No   0 0 Lockout/24_Defeasance/92_0%/4
36 Loan   Storage Sense Colorado Springs 1/10/2019 6 3/6/2019 2/6/2022 3/6/2022 2/6/2029 No   0 0 Lockout/24_Defeasance/92_0%/4

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name 2015 EGI ($) 2015 Expenses ($) 2015 NOI ($) 2016 EGI ($) 2016 Expenses ($) 2016 NOI ($) 2017 EGI ($) 2017 Expenses ($) 2017 NOI ($) Most Recent EGI (if past 2017) ($) Most Recent Expenses (if past 2017) ($) Most Recent NOI (if past 2017) ($) Most Recent NOI Date (if past 2017)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond N/A N/A N/A N/A N/A N/A 12,842,928 4,009,422 8,833,506 16,659,015 4,275,233 12,383,782 10/31/2018
2 Loan 14, 15, 16 Torrance Towne Center 7,098,586 2,310,589 4,787,997 7,329,993 2,372,839 4,957,153 7,657,687 2,466,331 5,191,356 7,908,786 2,481,800 5,426,986 7/31/2018
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
4 Loan   Heitman Life Storage Portfolio 9,035,737 3,468,613 5,567,124 9,276,807 3,518,914 5,757,893 9,178,449 3,799,799 5,378,650 9,122,602 3,968,505 5,154,097 10/31/2018
4.01 Property   East Elliot Road 825,496 256,783 568,713 854,099 273,540 580,559 863,224 295,308 567,916 882,965 309,357 573,608 10/31/2018
4.02 Property   FM 1431 1,157,205 569,668 587,537 1,191,892 558,667 633,225 1,191,466 561,978 629,488 1,144,254 592,469 551,785 10/31/2018
4.03 Property   Rayford Road 1,018,478 406,915 611,563 1,006,684 377,455 629,229 1,011,809 396,777 615,032 953,043 407,520 545,523 10/31/2018
4.04 Property   East Cornwallis Road 876,479 225,075 651,404 866,798 242,273 624,525 826,872 251,145 575,727 845,448 267,497 577,951 10/31/2018
4.05 Property   McNeil Drive 931,759 322,945 608,814 932,669 334,449 598,220 949,210 350,994 598,217 950,723 375,444 575,279 10/31/2018
4.06 Property   FM 2222 735,940 292,871 443,069 769,754 303,167 466,587 754,835 344,795 410,040 748,869 349,801 399,068 10/31/2018
4.07 Property   South Congress Avenue 654,521 244,787 409,734 687,897 274,663 413,234 697,394 270,070 427,324 715,647 288,824 426,823 10/31/2018
4.08 Property   Westheimer Road 705,060 318,116 386,944 707,888 267,982 439,906 678,854 402,824 276,030 671,879 407,986 263,893 10/31/2018
4.09 Property   Shell Road 534,600 208,440 326,160 543,907 206,548 337,359 535,817 211,064 324,753 537,494 216,474 321,020 10/31/2018
4.10 Property   Southwest Military Drive 552,858 209,194 343,664 598,865 251,476 347,389 577,299 275,200 302,099 575,507 281,876 293,631 10/31/2018
4.11 Property   Old Denton Road 633,747 250,407 383,340 657,004 247,496 409,508 636,708 253,651 383,057 625,235 277,760 347,475 10/31/2018
4.12 Property   West Camelback Road 409,594 163,412 246,182 459,350 181,198 278,153 454,961 185,994 268,967 471,538 193,495 278,043 10/31/2018
5 Loan 21, 22 Albertsons Industrial - IL N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
7 Loan   Perimeter Square N/A N/A N/A 3,857,423 918,474 2,938,949 4,072,661 957,793 3,114,868 4,312,079 967,667 3,344,412 11/30/2018
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue N/A N/A N/A 33,730,904 15,156,539 18,574,365 34,088,864 16,566,079 17,522,785 32,390,743 16,631,958 15,758,785 9/30/2018
9 Loan 36 Residence Inn Chula Vista N/A N/A N/A N/A N/A N/A N/A N/A N/A 8,852,708 4,742,570 4,110,138 11/30/2018
10 Loan 9, 37, 38 145 Clinton N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
11 Loan 39, 40 Vee Pak Industrial Portfolio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
11.01 Property   6710 River Road N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
11.02 Property   5300-5320 Dansher Road N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
11.03 Property   5321-5331 Dansher Road N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
12 Loan 41, 42 Moxy Denver Cherry Creek N/A N/A N/A N/A N/A N/A N/A N/A N/A 7,188,663 4,844,245 2,344,418 12/31/2018
13 Loan 43, 44 North Miami Business Park N/A N/A N/A 2,428,395 826,963 1,601,432 2,542,479 802,518 1,739,960 2,731,832 830,611 1,901,221 11/30/2018
14 Loan   Dublin Office Portfolio N/A N/A N/A N/A N/A N/A N/A N/A N/A 5,678,753 2,622,183 3,056,570 11/30/2018
14.01 Property   Parkwood II N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
14.02 Property 45 Emerald III N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
15 Loan 9, 46, 47 5444 & 5430 Westheimer 7,215,466 3,591,667 3,623,799 9,574,864 4,038,870 5,535,994 10,435,677 3,763,713 6,671,964 9,748,838 3,608,048 6,140,790 7/31/2018
16 Loan 48, 49 PPC Flexible Packaging Portfolio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
16.01 Property   PPC Payson N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
16.02 Property   PPC Rome N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
17 Loan   Life Time - Fort Worth N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
18 Loan 50 Mercury Drive N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
19 Loan 9 Albertsons Industrial - PA N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 7,115,575 3,502,863 3,612,712 7,053,036 3,507,119 3,545,917 7,096,444 3,531,456 3,564,988 7,832,105 3,723,910 4,108,195 9/30/2018
20.01 Property   Oak Brook Gateway 4,185,953 2,101,481 2,084,472 4,760,964 2,183,336 2,577,628 4,675,046 2,244,200 2,430,846 5,385,459 2,372,759 3,012,700 9/30/2018
20.02 Property   Cornerstone I at Cantera 2,929,622 1,401,381 1,528,240 2,292,072 1,323,783 968,289 2,421,398 1,287,256 1,134,142 2,446,646 1,351,151 1,095,495 9/30/2018
21 Loan   Jefferson Grove N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
22 Loan 53 WoodSpring Orlando Portfolio 2,778,630 1,518,936 1,259,693 3,241,107 1,809,542 1,431,564 3,718,638 1,918,153 1,800,486 4,045,878 1,951,345 2,094,532 6/30/2018
22.01 Property   WoodSpring Suites Clermont 1,512,662 784,955 727,707 1,755,109 941,006 814,103 1,997,000 991,418 1,005,583 2,157,813 999,395 1,158,418 6/30/2018
22.02 Property   WoodSpring Suites Clarcona 1,265,967 733,981 531,986 1,485,998 868,536 617,462 1,721,638 926,735 794,903 1,888,064 951,950 936,115 6/30/2018
23 Loan   Bennington Square Apartments 2,237,824 1,171,875 1,065,949 2,354,096 1,317,966 1,036,130 2,437,526 1,210,226 1,227,300 2,624,241 1,242,265 1,381,976 11/30/2018
24 Loan 54 Mission Point Office 1,700,737 711,987 988,750 1,560,405 689,857 870,548 1,714,145 678,266 1,035,879 1,682,871 698,932 983,939 9/30/2018
25 Loan   Franklin Commons N/A N/A N/A N/A N/A N/A N/A N/A N/A 1,216,255 141,041 1,075,214 9/30/2018
26 Loan 55 1933 North Meacham N/A N/A N/A N/A N/A N/A N/A N/A N/A 2,219,620 1,264,640 954,980 8/31/2018
27 Loan   Craig Promenade 1,084,842 401,408 683,434 1,010,554 411,154 599,400 1,063,252 390,094 673,158 1,153,657 401,437 752,220 10/31/2018
28 Loan 56 Essex Crossing Site 6 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
29 Loan   Church Ranch II N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
30 Loan   All Storage Fort Worth 101,433 146,055 (44,622) 817,712 396,710 421,003 1,068,634 427,397 641,237 1,156,391 281,407 874,984 10/31/2018
31 Loan   All Storage Mayfield N/A N/A N/A 200,055 150,010 50,045 825,534 476,345 349,189 1,113,246 335,275 777,971 10/31/2018
32 Loan   New Albany Market N/A N/A N/A 989,552 324,215 665,337 992,335 340,947 651,388 N/A N/A N/A N/A
33 Loan   Airport Plaza N/A N/A N/A N/A N/A N/A 577,953 117,691 460,262 644,783 177,018 467,764 9/30/2018
34 Loan   All Storage McCart 240,328 210,452 29,876 577,296 395,256 182,040 805,207 445,982 359,225 917,743 448,168 469,575 10/31/2018
35 Loan   Weis Plaza N/A N/A N/A 605,114 305,390 299,724 673,369 305,268 368,101 698,385 295,111 403,274 12/31/2018
36 Loan   Storage Sense Colorado Springs N/A N/A N/A 249,287 117,443 131,845 294,394 133,847 160,547 328,357 142,667 185,690 11/30/2018

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Most Recent
# of months		 Most Recent Description Underwritten
EGI ($)		 Underwritten Expenses ($) Underwritten Net Operating Income ($) Debt Yield on Underwritten Net Operating Income (%) Underwritten Replacement / FF&E Reserve ($) Underwritten
TI / LC ($)		 Underwritten
Net Cash Flow ($)		 Underwritten
NCF DSCR (x) (4)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 12 Trailing 12 16,888,077 4,281,457 12,606,620 11.5% 107,500 0 12,499,120 2.79
2 Loan 14, 15, 16 Torrance Towne Center 12 Trailing 12 8,116,077 2,794,808 5,321,269 10.2% 28,388 0 5,292,880 2.10
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ N/A Not Available 10,365,183 2,258,718 8,106,464 9.0% 14,913 455,343 7,636,208 1.62
4 Loan   Heitman Life Storage Portfolio 12 Trailing 12 9,409,584 4,067,826 5,341,758 11.8% 77,248 0 5,264,509 2.60
4.01 Property   East Elliot Road 12 Trailing 12 933,545 333,126 600,419   7,182 N/A 593,237  
4.02 Property   FM 1431 12 Trailing 12 1,192,143 614,925 577,219   9,929 N/A 567,290  
4.03 Property   Rayford Road 12 Trailing 12 984,805 393,267 591,538   6,554 N/A 584,984  
4.04 Property   East Cornwallis Road 12 Trailing 12 848,472 285,122 563,349   7,819 N/A 555,531  
4.05 Property   McNeil Drive 12 Trailing 12 949,992 417,646 532,346   9,321 N/A 523,025  
4.06 Property   FM 2222 12 Trailing 12 771,020 347,726 423,294   5,895 N/A 417,399  
4.07 Property   South Congress Avenue 12 Trailing 12 732,659 314,489 418,170   5,164 N/A 413,006  
4.08 Property   Westheimer Road 12 Trailing 12 692,851 328,502 364,349   5,753 N/A 358,596  
4.09 Property   Shell Road 12 Trailing 12 562,678 216,206 346,472   5,272 N/A 341,200  
4.10 Property   Southwest Military Drive 12 Trailing 12 635,024 295,222 339,802   4,866 N/A 334,937  
4.11 Property   Old Denton Road 12 Trailing 12 620,134 316,737 303,397   5,143 N/A 298,254  
4.12 Property   West Camelback Road 12 Trailing 12 486,261 204,858 281,402   4,350 N/A 277,052  
5 Loan 21, 22 Albertsons Industrial - IL N/A Not Available 7,635,267 229,058 7,406,209 17.9% 156,161 222,530 7,027,518 4.34
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 N/A Not Available 16,362,203 3,732,653 12,629,550 11.0% 64,563 106,673 12,458,314 2.19
7 Loan   Perimeter Square 12 Trailing 12 4,474,960 1,438,066 3,036,893 8.7% 27,909 94,054 2,914,930 1.48
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 12 Trailing 12 34,812,941 16,549,901 18,263,040 10.0% 222,521 1,950,188 16,090,332 1.84
9 Loan 36 Residence Inn Chula Vista 12 Trailing 12 8,994,271 4,950,726 4,043,545 14.0% 359,771 0 3,683,774 1.90
10 Loan 9, 37, 38 145 Clinton N/A Not Available 5,641,247 1,091,948 4,549,299 6.7% 1,344 93,096 4,454,859 1.30
11 Loan 39, 40 Vee Pak Industrial Portfolio N/A Not Available 3,764,853 1,311,012 2,453,842 9.1% 81,989 79,683 2,292,170 1.72
11.01 Property   6710 River Road N/A Not Available 2,118,855 678,566 1,440,289   45,000 46,244 1,349,045  
11.02 Property   5300-5320 Dansher Road N/A Not Available 1,030,314 423,575 606,739   24,239 20,337 562,163  
11.03 Property   5321-5331 Dansher Road N/A Not Available 615,685 208,871 406,814   12,750 13,102 380,962  
12 Loan 41, 42 Moxy Denver Cherry Creek 12 Trailing 12 8,652,266 5,454,771 3,197,495 12.8% 346,091 0 2,851,404 2.22
13 Loan 43, 44 North Miami Business Park 12 Trailing 12 2,942,218 810,183 2,132,035 9.7% 42,914 85,839 2,003,283 1.81
14 Loan   Dublin Office Portfolio 12 Trailing 12 5,352,892 2,721,806 2,631,085 12.0% 61,752 242,508 2,326,826 1.63
14.01 Property   Parkwood II N/A Not Available N/A N/A N/A   N/A N/A N/A  
14.02 Property 45 Emerald III N/A Not Available N/A N/A N/A   N/A N/A N/A  
15 Loan 9, 46, 47 5444 & 5430 Westheimer 12 Trailing 12 10,129,896 3,879,663 6,250,233 12.3% 80,952 308,099 5,861,181 2.40
16 Loan 48, 49 PPC Flexible Packaging Portfolio N/A Not Available 2,096,084 62,883 2,033,202 10.5% 71,145 90,117 1,871,940 1.52
16.01 Property   PPC Payson N/A Not Available 1,817,520 54,526 1,762,995   56,944 72,129 1,633,922  
16.02 Property   PPC Rome N/A Not Available 278,564 8,357 270,207   14,201 17,988 238,018  
17 Loan   Life Time - Fort Worth N/A Not Available 2,098,208 N/A 2,098,208 10.9% 6,168 117,191 1,974,849 2.06
18 Loan 50 Mercury Drive N/A Not Available 2,971,063 572,789 2,398,274 12.6% 29,019 58,568 2,310,686 1.87
19 Loan 9 Albertsons Industrial - PA N/A Not Available 7,150,359 214,511 6,935,848 9.0% 153,941 219,366 6,562,542 1.67
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 12 Trailing 12 9,497,243 3,836,166 5,661,077 11.9% 146,239 500,557 5,014,281 1.66
20.01 Property   Oak Brook Gateway 12 Trailing 12 6,249,142 2,420,454 3,828,687   74,576 312,720 3,441,392  
20.02 Property   Cornerstone I at Cantera 12 Trailing 12 3,248,101 1,415,712 1,832,389   71,663 187,837 1,572,889  
21 Loan   Jefferson Grove N/A Not Available 1,985,063 705,637 1,279,426 8.8% 23,200 0 1,256,226 1.35
22 Loan 53 WoodSpring Orlando Portfolio 12 Trailing 12 4,045,878 1,965,092 2,080,786 16.1% 161,835 0 1,918,951 2.10
22.01 Property   WoodSpring Suites Clermont 12 Trailing 12 2,157,813 1,016,074 1,141,739   86,313 N/A 1,055,427  
22.02 Property   WoodSpring Suites Clarcona 12 Trailing 12 1,888,064 949,018 939,047   75,523 N/A 863,524  
23 Loan   Bennington Square Apartments 12 Trailing 12 2,631,307 1,351,742 1,279,565 10.3% 93,900 0 1,185,665 1.47
24 Loan 54 Mission Point Office 12 Trailing 12 2,042,755 754,586 1,288,168 11.5% 18,246 31,090 1,238,832 1.63
25 Loan   Franklin Commons 12 Trailing 12 1,315,699 332,322 983,377 9.8% 17,196 65,912 900,268 1.36
26 Loan 55 1933 North Meacham 12 Trailing 12 2,726,705 1,543,492 1,183,213 12.2% 28,433 101,091 1,053,690 1.69
27 Loan   Craig Promenade 12 Trailing 12 1,480,687 468,800 1,011,887 10.5% 16,211 47,392 948,283 1.47
28 Loan 56 Essex Crossing Site 6 N/A Not Available 1,112,627 206,693 905,934 10.4% 4,295 27,199 874,441 1.79
29 Loan   Church Ranch II N/A Not Available 1,251,881 466,934 784,947 9.7% 11,350 59,904 713,693 1.30
30 Loan   All Storage Fort Worth 12 Trailing 12 1,296,551 447,827 848,724 11.3% 24,039 0 824,686 2.30
31 Loan   All Storage Mayfield 12 Trailing 12 1,295,584 526,413 769,171 11.0% 19,456 0 749,715 2.24
32 Loan   New Albany Market N/A Not Available 957,530 346,368 611,162 9.6% 5,206 32,510 573,447 1.35
33 Loan   Airport Plaza 12 Trailing 12 759,428 146,489 612,939 10.2% 6,150 17,302 589,487 1.50
34 Loan   All Storage McCart 12 Trailing 12 1,060,299 469,791 590,508 10.7% 21,632 0 568,876 2.11
35 Loan   Weis Plaza 12 Trailing 12 859,212 320,525 538,686 9.8% 23,068 51,314 464,304 1.25
36 Loan   Storage Sense Colorado Springs 12 Trailing 12 328,357 142,949 185,409 9.2% 3,655 0 181,754 1.33

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Debt Yield on Underwritten
Net Cash Flow (%)		 Appraised
Value ($)		 Appraisal Date As Stabilized Appraised Value ($) As Stabilized Appraisal Date Cut-off Date LTV Ratio (%) LTV Ratio at Maturity / ARD (%) Occupancy (%) (5) Occupancy Date ADR ($) RevPAR ($) Largest Tenant
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 11.4% 290,100,000 9/19/2018 290,500,000 3/1/2019 37.9% 37.9% 92.6% 12/16/2018 NAP NAP NAP
2 Loan 14, 15, 16 Torrance Towne Center 10.2% 86,500,000 9/11/2018 NAP NAP 60.1% 60.1% 97.2% 10/17/2018 NAP NAP Kohl’s Department Store (GL)
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 8.5% 170,000,000 12/3/2018 180,000,000 5/1/2019 50.0% 50.0% 100.0% 1/1/2019 NAP NAP The Pace Gallery LLC
4 Loan   Heitman Life Storage Portfolio 11.6% 92,340,000 Various 92,900,000 12/1/2019 49.1% 49.1% 90.8%   NAP NAP  
4.01 Property   East Elliot Road   10,860,000 11/20/2018 NAP NAP     95.2% 11/16/2018 NAP NAP NAP
4.02 Property   FM 1431   11,060,000 11/17/2018 NAP NAP     90.7% 11/16/2018 NAP NAP NAP
4.03 Property   Rayford Road   8,610,000 11/19/2018 NAP NAP     93.1% 11/16/2018 NAP NAP NAP
4.04 Property   East Cornwallis Road   10,040,000 11/19/2018 10,600,000 12/1/2019     86.5% 11/16/2018 NAP NAP NAP
4.05 Property   McNeil Drive   9,560,000 11/17/2018 NAP NAP     90.3% 11/16/2018 NAP NAP NAP
4.06 Property   FM 2222   6,560,000 11/17/2018 NAP NAP     94.0% 11/16/2018 NAP NAP NAP
4.07 Property   South Congress Avenue   7,350,000 11/20/2018 NAP NAP     87.9% 11/16/2018 NAP NAP NAP
4.08 Property   Westheimer Road   5,720,000 11/19/2018 NAP NAP     88.5% 11/16/2018 NAP NAP NAP
4.09 Property   Shell Road   5,310,000 11/19/2018 NAP NAP     92.5% 11/16/2018 NAP NAP NAP
4.10 Property   Southwest Military Drive   5,440,000 11/17/2018 NAP NAP     90.1% 11/16/2018 NAP NAP NAP
4.11 Property   Old Denton Road   6,240,000 11/19/2018 NAP NAP     90.5% 11/16/2018 NAP NAP NAP
4.12 Property   West Camelback Road   5,590,000 11/20/2018 NAP NAP     89.9% 11/16/2018 NAP NAP NAP
5 Loan 21, 22 Albertsons Industrial - IL 17.0% 126,000,000 11/28/2018 NAP NAP 32.9% 32.9% 100.0% 1/2/2019 NAP NAP Albertsons
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 10.8% 217,300,000 7/12/2018 252,300,000 10/1/2019 52.9% 45.6% 99.8% 9/1/2018 NAP NAP Uber
7 Loan   Perimeter Square 8.3% 54,650,000 9/12/2018 NAP NAP 64.0% 64.0% 100.0% 1/1/2019 NAP NAP Bed Bath & Beyond
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 8.8% 505,000,000 10/25/2018 595,000,000 11/1/2021 36.0% 36.0% 85.5% 10/23/2018 NAP NAP Houghton Mifflin Harcourt
9 Loan 36 Residence Inn Chula Vista 12.7% 43,000,000 10/19/2018 46,500,000 11/1/2021 67.3% 56.1% 93.8% 11/30/2018 185.99 163.67 NAP
10 Loan 9, 37, 38 145 Clinton 6.5% 105,000,000 9/20/2018 110,000,000 10/1/2019 65.0% 65.0% 85.0% 9/15/2018 NAP NAP Trader Joe’s
11 Loan 39, 40 Vee Pak Industrial Portfolio 8.5% 42,100,000 Various NAP NAP 63.8% 63.8% 100.0%   NAP NAP  
11.01 Property   6710 River Road   25,300,000 9/18/2018 NAP NAP     100.0% 1/1/2019 NAP NAP Vee Pak
11.02 Property   5300-5320 Dansher Road   10,000,000 12/17/2018 NAP NAP     100.0% 1/1/2019 NAP NAP Vee Pak
11.03 Property   5321-5331 Dansher Road   6,800,000 9/18/2018 NAP NAP     100.0% 1/1/2019 NAP NAP Vee Pak
12 Loan 41, 42 Moxy Denver Cherry Creek 11.4% 50,000,000 11/19/2018 55,300,000 11/19/2020 50.0% 50.0% 60.4% 12/31/2018 161.84 114.86 NAP
13 Loan 43, 44 North Miami Business Park 9.1% 35,300,000 12/20/2018 NAP NAP 62.3% 62.3% 91.0% 1/16/2019 NAP NAP Bosem Corporation
14 Loan   Dublin Office Portfolio 10.6% 42,900,000 9/26/2018 NAP NAP 51.2% 42.3% 86.6%   NAP NAP  
14.01 Property   Parkwood II   25,400,000 9/26/2018 NAP NAP     100.0% 1/1/2019 NAP NAP United Healthcare Services
14.02 Property 45 Emerald III   17,500,000 9/26/2018 NAP NAP     69.3% 11/1/2018 NAP NAP Quest Software, Inc.
15 Loan 9, 46, 47 5444 & 5430 Westheimer 11.5% 80,500,000 9/13/2018 83,900,000 9/13/2019 63.4% 63.4% 80.6% 6/1/2018 NAP NAP Capital One
16 Loan 48, 49 PPC Flexible Packaging Portfolio 9.7% 29,600,000 Various NAP NAP 65.2% 60.0% 100.0%   NAP NAP  
16.01 Property   PPC Payson   25,300,000 12/3/2018 NAP NAP     100.0% 1/1/2019 NAP NAP PPC Payson
16.02 Property   PPC Rome   4,300,000 11/2/2018 NAP NAP     100.0% 1/1/2019 NAP NAP PPC Rome
17 Loan   Life Time - Fort Worth 10.3% 32,200,000 12/12/2018 NAP NAP 59.6% 59.6% 100.0% 1/29/2019 NAP NAP Healthy Way of Life VIII, LLC
18 Loan 50 Mercury Drive 12.2% 26,300,000 12/12/2018 NAP NAP 72.2% 59.5% 100.0% 1/1/2019 NAP NAP Ford
19 Loan 9 Albertsons Industrial - PA 8.6% 117,000,000 11/28/2018 NAP NAP 65.6% 65.6% 100.0% 1/2/2019 NAP NAP Albertsons
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 10.5% 64,700,000 10/22/2018 NAP NAP 73.8% 63.6% 84.7%   NAP NAP  
20.01 Property   Oak Brook Gateway   43,400,000 10/22/2018 NAP NAP     88.1% 10/24/2018 NAP NAP Lewis University
20.02 Property   Cornerstone I at Cantera   21,300,000 10/22/2018 NAP NAP     79.6% 9/30/2018 NAP NAP Sargent & Lundy, LLC
21 Loan   Jefferson Grove 8.7% 21,700,000 12/17/2018 NAP NAP 66.8% 61.6% 95.7% 1/14/2019 NAP NAP NAP
22 Loan 53 WoodSpring Orlando Portfolio 14.8% 20,300,000 8/15/2018 21,300,000 9/1/2020 63.8% 59.7% 85.4%   56.12 47.94  
22.01 Property   WoodSpring Suites Clermont   11,300,000 8/15/2018 11,800,000 9/1/2020     83.1% 6/30/2018 57.50 47.77 NAP
22.02 Property   WoodSpring Suites Clarcona   9,000,000 8/15/2018 9,500,000 9/1/2020     88.1% 6/30/2018 54.61 48.13 NAP
23 Loan   Bennington Square Apartments 9.6% 19,730,000 12/12/2018 NAP NAP 62.8% 58.1% 93.0% 1/10/2019 NAP NAP NAP
24 Loan 54 Mission Point Office 11.0% 16,275,000 9/7/2018 16,650,000 3/1/2019 68.9% 57.6% 88.9% 10/19/2018 NAP NAP DRS Intelligence & Avionic Solutions, Inc.
25 Loan   Franklin Commons 9.0% 15,620,000 9/14/2018 NAP NAP 64.3% 59.5% 100.0% 10/1/2018 NAP NAP Ross Dress For Less
26 Loan 55 1933 North Meacham 10.9% 14,500,000 10/2/2018 NAP NAP 66.9% 61.7% 92.8% 12/1/2018 NAP NAP KeyPath Education
27 Loan   Craig Promenade 9.8% 13,000,000 11/16/2018 13,650,000 12/1/2019 74.3% 61.8% 84.8% 10/19/2018 NAP NAP Big Lots
28 Loan 56 Essex Crossing Site 6 10.0% 17,300,000 11/15/2018 NAP NAP 50.6% 50.6% 100.0% 8/19/2018 NAP NAP Henry Street Settlement Workforce
29 Loan   Church Ranch II 8.8% 12,650,000 10/3/2018 NAP NAP 64.1% 53.5% 100.0% 1/1/2019 NAP NAP Staples
30 Loan   All Storage Fort Worth 11.0% 14,000,000 9/25/2018 14,900,000 9/25/2019 53.6% 53.6% 78.0% 10/31/2018 NAP NAP NAP
31 Loan   All Storage Mayfield 10.7% 14,900,000 9/25/2018 NAP NAP 47.0% 47.0% 89.3% 10/31/2018 NAP NAP NAP
32 Loan   New Albany Market 9.0% 8,850,000 10/23/2018 NAP NAP 72.0% 62.8% 91.4% 11/16/2018 NAP NAP Roosters Wings
33 Loan   Airport Plaza 9.8% 8,140,000 10/19/2018 NAP NAP 74.2% 64.3% 92.7% 8/22/2018 NAP NAP Dollar Tree
34 Loan   All Storage McCart 10.3% 10,100,000 9/25/2018 NAP NAP 54.5% 54.5% 70.0% 10/31/2018 NAP NAP NAP
35 Loan   Weis Plaza 8.4% 8,100,000 12/11/2018 NAP NAP 67.9% 56.6% 93.9% 1/1/2019 NAP NAP Weis Markets
36 Loan   Storage Sense Colorado Springs 9.0% 3,050,000 12/11/2018 NAP NAP 66.2% 59.2% 90.0% 12/31/2018 NAP NAP NAP

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Largest Tenant Sq Ft Largest Tenant Lease Expiration (6) Second Largest Tenant Second Largest Tenant Sq Ft Second Largest Tenant Lease Expiration (6) Third Largest Tenant Third Largest Tenant Sq Ft Third Largest Tenant Lease Expiration (6) Fourth Largest Tenant Fourth Largest Tenant Sq Ft
1 Loan 8, 9, 10, 11, 12, 13 365 Bond     NAP     NAP     NAP  
2 Loan 14, 15, 16 Torrance Towne Center 95,697 1/31/2024 Smart & Final 21,015 7/31/2032 Howard’s Appliances 18,679 9/30/2019 Burke Williams Day Spa 15,672
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 74,563 12/14/2038 NAP     NAP     NAP  
4 Loan   Heitman Life Storage Portfolio                    
4.01 Property   East Elliot Road     NAP     NAP     NAP  
4.02 Property   FM 1431     NAP     NAP     NAP  
4.03 Property   Rayford Road     NAP     NAP     NAP  
4.04 Property   East Cornwallis Road     NAP     NAP     NAP  
4.05 Property   McNeil Drive     NAP     NAP     NAP  
4.06 Property   FM 2222     NAP     NAP     NAP  
4.07 Property   South Congress Avenue     NAP     NAP     NAP  
4.08 Property   Westheimer Road     NAP     NAP     NAP  
4.09 Property   Shell Road     NAP     NAP     NAP  
4.10 Property   Southwest Military Drive     NAP     NAP     NAP  
4.11 Property   Old Denton Road     NAP     NAP     NAP  
4.12 Property   West Camelback Road     NAP     NAP     NAP  
5 Loan 21, 22 Albertsons Industrial - IL 1,561,613 1/31/2039 NAP     NAP     NAP  
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 131,070 4/30/2028 JUUL 61,385 3/30/2029 Restoration Hardware 55,950 1/31/2059 Gusto 50,757
7 Loan   Perimeter Square 50,000 1/31/2020 Havertys Furniture 44,000 7/31/2022 T.J. Maxx 32,500 8/31/2029 PetSmart 25,858
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 101,821 12/31/2027 TransPerfect Translations 91,220 9/30/2019 P. Kaufmann Contract 57,000 12/31/2022 Return Path, Inc. 46,002
9 Loan 36 Residence Inn Chula Vista     NAP     NAP     NAP  
10 Loan 9, 37, 38 145 Clinton 30,621 9/30/2033 Target 22,480 1/31/2034 Time Warner Cable 4,000 4/30/2029 NAP  
11 Loan 39, 40 Vee Pak Industrial Portfolio                    
11.01 Property   6710 River Road 300,000 1/31/2039 NAP     NAP     NAP  
11.02 Property   5300-5320 Dansher Road 161,591 1/31/2039 NAP     NAP     NAP  
11.03 Property   5321-5331 Dansher Road 85,000 1/31/2039 NAP     NAP     NAP  
12 Loan 41, 42 Moxy Denver Cherry Creek     NAP     NAP     NAP  
13 Loan 43, 44 North Miami Business Park 8,000 12/31/2020 Tele Radio America 7,900 3/31/2020 Michael Giordano I 5,600 12/31/2021 Bato Productions I 4,300
14 Loan   Dublin Office Portfolio                    
14.01 Property   Parkwood II 164,900 8/31/2024 NAP     NAP     NAP  
14.02 Property 45 Emerald III 33,007 5/31/2024 West Notifications, Inc. 16,691 5/31/2021 Aerotek, Inc. 15,104 11/30/2022 Allstate Insurance Company 6,829
15 Loan 9, 46, 47 5444 & 5430 Westheimer 58,061 7/31/2025 AECOM Technology Corp 58,011 2/28/2023 Alliant Insurance Services 38,704 10/31/2023 HESS 21,466
16 Loan 48, 49 PPC Flexible Packaging Portfolio                    
16.01 Property   PPC Payson 379,627 11/30/2038 NAP     NAP     NAP  
16.02 Property   PPC Rome 94,672 11/30/2038 NAP     NAP     NAP  
17 Loan   Life Time - Fort Worth 123,359 1/31/2044 NAP     NAP     NAP  
18 Loan 50 Mercury Drive 193,463 12/31/2028 NAP     NAP     NAP  
19 Loan 9 Albertsons Industrial - PA 1,539,407 1/31/2039 NAP     NAP     NAP  
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio                    
20.01 Property   Oak Brook Gateway 32,634 12/31/2023 U.S. Census Bureau 29,171 11/15/2023 Thomson Reuters (Markets) LLC 22,699 12/31/2019 Oxford Bank & Trust 16,974
20.02 Property   Cornerstone I at Cantera 29,239 6/30/2027 AECOM 26,749 10/31/2020 RGN National Business Centers 15,290 1/31/2020 Dugan & Lopatka 10,895
21 Loan   Jefferson Grove     NAP     NAP     NAP  
22 Loan 53 WoodSpring Orlando Portfolio                    
22.01 Property   WoodSpring Suites Clermont     NAP     NAP     NAP  
22.02 Property   WoodSpring Suites Clarcona     NAP     NAP     NAP  
23 Loan   Bennington Square Apartments     NAP     NAP     NAP  
24 Loan 54 Mission Point Office 46,637 11/30/2020 Wyle Laboratories, Inc. 21,792 9/30/2023 General Atomics Aeronautical Systems, Inc. 6,844 11/30/2024 Segue Technologies, Inc. 5,817
25 Loan   Franklin Commons 21,959 1/31/2028 Marshalls 21,000 8/31/2027 PetSmart 18,019 6/30/2027 Ulta Beauty 10,002
26 Loan 55 1933 North Meacham 20,573 4/9/2023 Genex Services 16,466 3/31/2022 Fiserv Solutions 15,452 4/30/2026 North Fork Holding 15,387
27 Loan   Craig Promenade 30,223 1/31/2021 Salvation Army 14,454 2/29/2024 Dotty’s 4,158 7/31/2027 Metro PCS 2,888
28 Loan 56 Essex Crossing Site 6 9,040 7/31/2029 Chinese American Planning 8,520 6/30/2039 LES BID 3,449 7/31/2039 Grand Street Settlement 1,974
29 Loan   Church Ranch II 63,057 7/31/2028 NAP     NAP     NAP  
30 Loan   All Storage Fort Worth     NAP     NAP     NAP  
31 Loan   All Storage Mayfield     NAP     NAP     NAP  
32 Loan   New Albany Market 5,801 9/30/2028 Captivity World 5,610 12/31/2023 Firefly Café 4,149 9/30/2020 Panera 4,072
33 Loan   Airport Plaza 10,000 8/31/2021 Rue 21 6,500 1/31/2022 El Cazador Mexican Restaurant 4,000 10/31/2021 Shoe Show 3,500
34 Loan   All Storage McCart     NAP     NAP     NAP  
35 Loan   Weis Plaza 56,614 1/31/2022 Planet Fitness 17,600 5/31/2029 Once Again Thrift 9,104 12/31/2019 Dollar General 8,698
36 Loan   Storage Sense Colorado Springs     NAP     NAP     NAP  

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Fourth Largest Tenant Lease Expiration (6) Fifth Largest Tenant Fifth Largest Tenant Sq Ft Fifth Largest Tenant Lease Expiration (6) Environmental Phase I Report Date Environmental Phase II Environmental Phase II Report Date Engineering Report Date Seismic Report Date PML or SEL (%) Earthquake Insurance Required Upfront RE Tax Reserve ($) Ongoing RE Tax Reserve ($)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond   NAP     9/28/2018 No NAP 10/1/2018 NAP NAP No 24,180 24,180
2 Loan 14, 15, 16 Torrance Towne Center 12/31/2020 Goodwill Industries 14,038 12/31/2019 9/21/2018 No NAP 9/21/2018 9/21/2018 15% No 70,646 38,705
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ   NAP     12/18/2018 No NAP 12/18/2018 NAP NAP No 0 0
4 Loan   Heitman Life Storage Portfolio                     No 0 0
4.01 Property   East Elliot Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
4.02 Property   FM 1431   NAP     12/18/2018 No NAP 11/29/2018 NAP NAP No    
4.03 Property   Rayford Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
4.04 Property   East Cornwallis Road   NAP     11/29/2018 No NAP 11/20/2018 NAP NAP No    
4.05 Property   McNeil Drive   NAP     11/29/2018 No NAP 12/19/2018 NAP NAP No    
4.06 Property   FM 2222   NAP     12/18/2018 No NAP 11/29/2018 NAP NAP No    
4.07 Property   South Congress Avenue   NAP     12/18/2018 No NAP 12/19/2018 NAP NAP No    
4.08 Property   Westheimer Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
4.09 Property   Shell Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
4.10 Property   Southwest Military Drive   NAP     12/18/2018 No NAP 11/29/2018 NAP NAP No    
4.11 Property   Old Denton Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
4.12 Property   West Camelback Road   NAP     11/29/2018 No NAP 11/29/2018 NAP NAP No    
5 Loan 21, 22 Albertsons Industrial - IL   NAP     12/13/2018 No NAP 12/21/2018 NAP NAP No 0 0
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 10/31/2028 Obscura Digital 23,017 1/31/2025 8/14/2018 No NAP 7/31/2018 8/20/2018 17% No 2,267,641 128,884
7 Loan   Perimeter Square 1/31/2020 Total Wine & More 21,000 2/28/2024 9/17/2018 No NAP 9/18/2018 NAP NAP No 0 0
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 7/31/2025 Pira Energy Group 27,577 2/29/2020 10/18/2018 No NAP 10/17/2018 NAP NAP No 3,668,201 641,935
9 Loan 36 Residence Inn Chula Vista   NAP     11/1/2018 No NAP 11/2/2018 11/1/2018 6% No 71,621 24,601
10 Loan 9, 37, 38 145 Clinton   NAP     9/28/2018 No NAP 9/28/2018 NAP NAP No 0 0
11 Loan 39, 40 Vee Pak Industrial Portfolio                     No 0 0
11.01 Property   6710 River Road   NAP     10/2/2018 No NAP 10/1/2018 NAP NAP No    
11.02 Property   5300-5320 Dansher Road   NAP     11/13/2018 No NAP 11/13/2018 NAP NAP No    
11.03 Property   5321-5331 Dansher Road   NAP     10/2/2018 No NAP 10/1/2018 NAP NAP No    
12 Loan 41, 42 Moxy Denver Cherry Creek   NAP     12/3/2018 No NAP 12/3/2018 NAP NAP No 0 0
13 Loan 43, 44 North Miami Business Park 9/30/2019 City Electric Supply Company 4,200 6/30/2022 12/19/2018 No NAP 12/19/2018 NAP NAP No 156,079 31,216
14 Loan   Dublin Office Portfolio                     No 593,326 84,761
14.01 Property   Parkwood II   NAP     9/28/2018 No NAP 10/1/2018 NAP NAP No    
14.02 Property 45 Emerald III 9/30/2022 ClearChoice Management Services, LLC 6,769 12/31/2029 9/28/2018 No NAP 9/26/2018 NAP NAP No    
15 Loan 9, 46, 47 5444 & 5430 Westheimer 12/31/2023 Verizon Wireless 19,695 3/31/2024 9/17/2018 No NAP 9/19/2018 NAP NAP No 938,541 96,267
16 Loan 48, 49 PPC Flexible Packaging Portfolio                     No 0 0
16.01 Property   PPC Payson   NAP     10/16/2018 No NAP 12/6/2018 10/24/2018 5% No    
16.02 Property   PPC Rome   NAP     10/16/2018 No NAP 12/6/2018 NAP NAP No    
17 Loan   Life Time - Fort Worth   NAP     12/10/2018 No NAP 12/19/2018 NAP NAP No 0 0
18 Loan 50 Mercury Drive   NAP     12/21/2018 No NAP 12/28/2018 NAP NAP No 0 0
19 Loan 9 Albertsons Industrial - PA   NAP     12/13/2018 No NAP 12/21/2018 NAP NAP No 0 0
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio                     No 225,883 56,471
20.01 Property   Oak Brook Gateway 4/30/2025 Aerotek, Inc. 14,596 5/31/2023 6/12/2018 No NAP 11/19/2018 NAP NAP No    
20.02 Property   Cornerstone I at Cantera 8/31/2026 Docusign, Inc. 9,352 7/31/2021 8/16/2018 No NAP 8/17/2018 NAP NAP No    
21 Loan   Jefferson Grove   NAP     1/3/2019 No NAP 1/3/2019 NAP NAP No 62,339 31,170
22 Loan 53 WoodSpring Orlando Portfolio                     No 95,180 11,898
22.01 Property   WoodSpring Suites Clermont   NAP     8/22/2018 No NAP 8/22/2018 NAP NAP No    
22.02 Property   WoodSpring Suites Clarcona   NAP     8/22/2018 No NAP 8/22/2018 NAP NAP No    
23 Loan   Bennington Square Apartments   NAP     12/28/2018 No NAP 12/27/2018 NAP NAP No 33,165 16,583
24 Loan 54 Mission Point Office 10/31/2023 NAP     9/13/2018 No NAP 9/12/2018 NAP NAP No 124,499 24,900
25 Loan   Franklin Commons 2/29/2028 Shoe Dept Encore 10,000 6/30/2027 10/5/2018 No NAP 10/8/2018 NAP NAP No 29,956 14,978
26 Loan 55 1933 North Meacham 7/31/2022 Lavelle Law 12,620 3/31/2028 10/17/2018 No NAP 10/17/2018 NAP NAP No 254,167 50,833
27 Loan   Craig Promenade 4/30/2023 Polo Cleaners 2,600 12/31/2023 12/13/2018 Yes 12/13/2018 11/21/2018 NAP NAP No 0 5,916
28 Loan 56 Essex Crossing Site 6 7/31/2029 NAP     11/15/2018 No NAP 11/15/2018 NAP NAP No 0 0
29 Loan   Church Ranch II   NAP     10/10/2018 No NAP 10/10/2018 NAP NAP No 69,997 10,000
30 Loan   All Storage Fort Worth   NAP     10/3/2018 No NAP 10/4/2018 NAP NAP No 0 15,240
31 Loan   All Storage Mayfield   NAP     10/2/2018 No NAP 10/3/2018 NAP NAP No 0 17,393
32 Loan   New Albany Market 3/31/2024 Square One 3,121 9/30/2025 10/24/2018 No NAP 10/24/2018 NAP NAP No 107,259 15,323
33 Loan   Airport Plaza 8/31/2021 Hwy 55 Burgers 2,000 10/31/2026 10/26/2018 No NAP 10/26/2018 NAP NAP No 0 5,462
34 Loan   All Storage McCart   NAP     10/4/2018 No NAP 10/4/2018 NAP NAP No 0 17,393
35 Loan   Weis Plaza 5/31/2022 Good Shepherd 8,050 4/30/2027 12/19/2018 No NAP 12/13/2018 NAP NAP No 45,411 11,353
36 Loan   Storage Sense Colorado Springs   NAP     12/11/2018 No NAP 12/11/2018 NAP NAP No 4,779 2,390

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Upfront Insurance Reserve ($) Ongoing Insurance Reserve ($) Upfront Replacement Reserve ($) Ongoing Replacement Reserve ($) Replacement Reserve Caps ($) Upfront TI/LC Reserve ($) Ongoing TI/LC Reserve ($) TI/LC Caps ($) Upfront Debt Service Reserve ($) Ongoing Debt Service Reserve ($) Upfront Deferred Maintenance Reserve ($) Ongoing Deferred Maintenance Reserve ($) Upfront Environmental Reserve ($) Ongoing Environmental Reserve ($)
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 0 0 0 0 537,500 0 0 0 0 0 0 0 0 0
2 Loan 14, 15, 16 Torrance Towne Center 0 5,790 100,000 0 100,000 1,550,000 0 550,000 0 0 0 0 0 0
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 Loan   Heitman Life Storage Portfolio 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4.01 Property   East Elliot Road                            
4.02 Property   FM 1431                            
4.03 Property   Rayford Road                            
4.04 Property   East Cornwallis Road                            
4.05 Property   McNeil Drive                            
4.06 Property   FM 2222                            
4.07 Property   South Congress Avenue                            
4.08 Property   Westheimer Road                            
4.09 Property   Shell Road                            
4.10 Property   Southwest Military Drive                            
4.11 Property   Old Denton Road                            
4.12 Property   West Camelback Road                            
5 Loan 21, 22 Albertsons Industrial - IL 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 0 0 0 5,380 175,000 2,000,000 0 2,000,000 0 0 0 0 0 0
7 Loan   Perimeter Square 0 0 0 0 0 0 0 500,000 0 0 0 0 0 0
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 0 0 0 18,543 1,112,604 0 100,000 3,000,000 0 0 0 0 0 0
9 Loan 36 Residence Inn Chula Vista 20,419 2,917 0 21,370 0 0 0 0 0 0 0 0 0 0
10 Loan 9, 37, 38 145 Clinton 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Loan 39, 40 Vee Pak Industrial Portfolio 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11.01 Property   6710 River Road                            
11.02 Property   5300-5320 Dansher Road                            
11.03 Property   5321-5331 Dansher Road                            
12 Loan 41, 42 Moxy Denver Cherry Creek 0 0 0 See Annex Footnote 0 0 0 0 0 0 0 0 0 0
13 Loan 43, 44 North Miami Business Park 2,181 1,090 0 0 0 0 0 0 0 0 16,738 0 0 0
14 Loan   Dublin Office Portfolio 0 0 0 5,131 0 2,000,000 24,432 3,000,000 0 0 0 0 0 0
14.01 Property   Parkwood II                            
14.02 Property 45 Emerald III                            
15 Loan 9, 46, 47 5444 & 5430 Westheimer 0 0 0 6,746 323,810 0 29,167 1,200,000 0 0 0 0 0 0
16 Loan 48, 49 PPC Flexible Packaging Portfolio 0 0 0 0 142,290 0 0 711,449 0 0 0 0 0 0
16.01 Property   PPC Payson                            
16.02 Property   PPC Rome                            
17 Loan   Life Time - Fort Worth 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Loan 50 Mercury Drive 11,202 0 0 0 0 0 12,898 0 0 0 0 0 0 0
19 Loan 9 Albertsons Industrial - PA 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 0 0 0 12,187 0 150,000 70,680 1,700,000 0 0 155,431 0 0 0
20.01 Property   Oak Brook Gateway                            
20.02 Property   Cornerstone I at Cantera                            
21 Loan   Jefferson Grove 0 0 0 0 0 0 0 0 0 0 0 0 0 0
22 Loan 53 WoodSpring Orlando Portfolio 0 0 0 13,486 0 0 0 0 0 0 4,950 0 0 0
22.01 Property   WoodSpring Suites Clermont                            
22.02 Property   WoodSpring Suites Clarcona                            
23 Loan   Bennington Square Apartments 0 0 0 7,825 0 0 0 0 0 0 404,730 0 0 0
24 Loan 54 Mission Point Office 0 0 0 1,901 0 500,000 16,667 1,000,000 0 0 0 0 0 0
25 Loan   Franklin Commons 4,721 2,361 0 0 0 0 7,165 429,900 0 0 0 0 0 0
26 Loan 55 1933 North Meacham 0 0 0 2,369 100,000 450,000 0 350,000 0 0 0 0 0 0
27 Loan   Craig Promenade 29,316 0 0 1,351 0 0 6,755 250,000 0 0 0 0 0 0
28 Loan 56 Essex Crossing Site 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0
29 Loan   Church Ranch II 1,486 743 0 1,050 63,000 0 0 0 0 0 0 0 0 0
30 Loan   All Storage Fort Worth 0 0 0 2,008 72,300 0 0 0 0 0 0 0 0 0
31 Loan   All Storage Mayfield 0 0 0 1,638 58,980 0 0 0 0 0 0 0 0 0
32 Loan   New Albany Market 0 0 0 578 34,708 0 2,083 100,000 0 0 0 0 0 0
33 Loan   Airport Plaza 2,888 1,444 0 410 25,000 100,000 2,083 150,000 0 0 0 0 0 0
34 Loan   All Storage McCart 0 0 0 1,970 70,920 0 0 0 0 0 0 0 0 0
35 Loan   Weis Plaza 0 0 0 1,923 0 0 4,807 250,000 0 0 39,369 0 0 0
36 Loan   Storage Sense Colorado Springs 8,269 919 0 305 0 0 0 0 0 0 0 0 0 0

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Upfront Other Reserve ($) Ongoing Other Reserve ($) Other Reserve Description Borrower Name Delaware Statutory Trust?
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 0 0   LSG 365 Bond Street LLC No
2 Loan 14, 15, 16 Torrance Towne Center 87,733 0 Ground Rent Reserve Torrance Towne Center Associates, LLC No
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 6,792,677 0 Core and Shell Work Reserve Wenat Realty Associates L.P. No
4 Loan   Heitman Life Storage Portfolio 0 0   SH 7100-7111 LLC No
4.01 Property   East Elliot Road          
4.02 Property   FM 1431          
4.03 Property   Rayford Road          
4.04 Property   East Cornwallis Road          
4.05 Property   McNeil Drive          
4.06 Property   FM 2222          
4.07 Property   South Congress Avenue          
4.08 Property   Westheimer Road          
4.09 Property   Shell Road          
4.10 Property   Southwest Military Drive          
4.11 Property   Old Denton Road          
4.12 Property   West Camelback Road          
5 Loan 21, 22 Albertsons Industrial - IL 0 0   Chicago Grocery Property LLC No
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 20,946,954 0 Unfunded Obligations Reserve ($14,800,299.50), Restoration Hardware Reserve ($4,093,962.40), Buildings 102 and 113 Capital Expenditure Reserve ($2,000,000), Port Loan Reserve ($52,692.24) Historic Pier 70, LLC No
7 Loan   Perimeter Square 0 0   TKG Perimeter Square, LLC No
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 0 0   Three Park Building LLC No
9 Loan 36 Residence Inn Chula Vista 0 0   Centerpark Promenade Hotel, LLC No
10 Loan 9, 37, 38 145 Clinton 1,016,150 0 Unfunded Obligations Reserve Site 5 Commercial Owner DE LLC No
11 Loan 39, 40 Vee Pak Industrial Portfolio 0 0   AGNL Sunscreen, L.L.C. No
11.01 Property   6710 River Road          
11.02 Property   5300-5320 Dansher Road          
11.03 Property   5321-5331 Dansher Road          
12 Loan 41, 42 Moxy Denver Cherry Creek 0 0   Josephine Development Owner LLC No
13 Loan 43, 44 North Miami Business Park 0 0   NMB Partners LLC No
14 Loan   Dublin Office Portfolio 1,772,020 0 Unfunded Obligations Reserve DPC4 LP No
14.01 Property   Parkwood II          
14.02 Property 45 Emerald III          
15 Loan 9, 46, 47 5444 & 5430 Westheimer 1,483,320 0 Free Rent Reserve ($825,329), Unfunded Obligations Reserve ($657,991) Franklin Post Oak, Ltd. No
16 Loan 48, 49 PPC Flexible Packaging Portfolio 0 0   NM PPC, L.L.C. No
16.01 Property   PPC Payson          
16.02 Property   PPC Rome          
17 Loan   Life Time - Fort Worth 0 0   FWPAL LLC No
18 Loan 50 Mercury Drive 0 0   North Ford Holdings LLC No
19 Loan 9 Albertsons Industrial - PA 0 0   Lancaster Grocery Property LLC No
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 2,908,094 0 Unfunded Obligations Reserve ($2,321,973.61), Gap Rent Reserve ($586,120.83) Oak Brook Gateway, LLC and Cornerstone Cantera, LLC No
20.01 Property   Oak Brook Gateway          
20.02 Property   Cornerstone I at Cantera          
21 Loan   Jefferson Grove 0 0   Jefferson Grove One LLC No
22 Loan 53 WoodSpring Orlando Portfolio 0 0   Orlando VP, LLC No
22.01 Property   WoodSpring Suites Clermont          
22.02 Property   WoodSpring Suites Clarcona          
23 Loan   Bennington Square Apartments 35,000 0 Excess Flood Insurance Premium Reserve Bennington Square, Inc. No
24 Loan 54 Mission Point Office 362,918 0 Unfunded Obligations Reserve 2601 Mission Point Blvd LLC No
25 Loan   Franklin Commons 0 0   Franklin Commons Associates, LLC No
26 Loan 55 1933 North Meacham 838,654 0 Unfunded Obligations Reserve 1933 Meacham Road Acquisition LLC and 5420, LLC No
27 Loan   Craig Promenade 0 0   Craig Promenade, LLC No
28 Loan 56 Essex Crossing Site 6 2,750,968 0 Unfunded Obligations Reserve Site 6 CF2 Commercial LLC No
29 Loan   Church Ranch II 327,300 0 Staples Expansion Improvement Contribution Reserve C Ranch I, LLC, C Ranch II, LLC, C Ranch III, LLC and C Ranch IV, LLC No
30 Loan   All Storage Fort Worth 0 0   All Storage White Settlement, Ltd. No
31 Loan   All Storage Mayfield 0 0   All Storage Mayfield, Ltd. No
32 Loan   New Albany Market 0 0   New Albany Market Partners LLC No
33 Loan   Airport Plaza 21,000 0 Unfunded Obligations Reserve Airport Plaza NC, LLC and VTMS, LLC No
34 Loan   All Storage McCart 0 0   All Storage McCart, Ltd. No
35 Loan   Weis Plaza 280,721 0 Unfunded Obligations Reserve Weis Plaza, LP No
36 Loan   Storage Sense Colorado Springs 0 0   CSGBSH CO Springs I, LLC No

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Carve-out Guarantor Loan Purpose
1 Loan 8, 9, 10, 11, 12, 13 365 Bond LSG Enterprises LLC Refinance
2 Loan 14, 15, 16 Torrance Towne Center Norman R. La Caze and Carole La Caze Refinance
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ Samuel G. Weinberg Refinance
4 Loan   Heitman Life Storage Portfolio None Acquisition
4.01 Property   East Elliot Road    
4.02 Property   FM 1431    
4.03 Property   Rayford Road    
4.04 Property   East Cornwallis Road    
4.05 Property   McNeil Drive    
4.06 Property   FM 2222    
4.07 Property   South Congress Avenue    
4.08 Property   Westheimer Road    
4.09 Property   Shell Road    
4.10 Property   Southwest Military Drive    
4.11 Property   Old Denton Road    
4.12 Property   West Camelback Road    
5 Loan 21, 22 Albertsons Industrial - IL USRA Net Lease III Capital Corp. Acquisition
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 Julian Robert Orton, III Refinance
7 Loan   Perimeter Square E. Stanley Kroenke Refinance
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue Charles Steven Cohen Refinance
9 Loan 36 Residence Inn Chula Vista Alfred E. Baldwin and Alfred E. Baldwin, as Trustee of the A&D Baldwin Family Trust dated July 11, 1985 Refinance
10 Loan 9, 37, 38 145 Clinton DSA Phase I Holdings LLC Refinance
11 Loan 39, 40 Vee Pak Industrial Portfolio AG Net Lease III Corp. and AG Net Lease III (SO) Corp. Acquisition
11.01 Property   6710 River Road    
11.02 Property   5300-5320 Dansher Road    
11.03 Property   5321-5331 Dansher Road    
12 Loan 41, 42 Moxy Denver Cherry Creek Matthew Joblon and Jarrett Posner Refinance
13 Loan 43, 44 North Miami Business Park Kenneth Israel Acquisition
14 Loan   Dublin Office Portfolio Raymond Massa Refinance
14.01 Property   Parkwood II    
14.02 Property 45 Emerald III    
15 Loan 9, 46, 47 5444 & 5430 Westheimer Gulf United Investments Corporation Refinance
16 Loan 48, 49 PPC Flexible Packaging Portfolio New Mountain Net Lease Corporation and New Mountain Net Lease Partners Corporation Acquisition
16.01 Property   PPC Payson    
16.02 Property   PPC Rome    
17 Loan   Life Time - Fort Worth Bahram Akradi and Stuart Gary Lasher Acquisition
18 Loan 50 Mercury Drive Meshulam Martin Acquisition
19 Loan 9 Albertsons Industrial - PA USRA Net Lease III Capital Corp. Acquisition
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio Dmitry Gordeev and Fairbridge Partners, LLC Acquisition
20.01 Property   Oak Brook Gateway    
20.02 Property   Cornerstone I at Cantera    
21 Loan   Jefferson Grove David M. Conwill, Steven B. Kimmelman and Leslie S.R. Leohr Refinance
22 Loan 53 WoodSpring Orlando Portfolio Philip A. Cox and Tracy Fleenor Refinance
22.01 Property   WoodSpring Suites Clermont    
22.02 Property   WoodSpring Suites Clarcona    
23 Loan   Bennington Square Apartments Syed Razzaqi Refinance
24 Loan 54 Mission Point Office Miller-Valentine Partners Ltd. II Refinance
25 Loan   Franklin Commons Robert Ridino Acquisition
26 Loan 55 1933 North Meacham Jason Fine, Richard Fine, David Tomlinson, Jason Litwack and Stephen L. Weaver Refinance
27 Loan   Craig Promenade Leon Victor Whitmore III, Joel Ryan Thompson, Rebecca M. Thompson and Lori M. Whitmore Acquisition
28 Loan 56 Essex Crossing Site 6 DSA Phase 1 Holdings LLC Refinance
29 Loan   Church Ranch II Jerry J. Tepper, Nan Thorne Fogel, Jonathan O. Thorne and Betty J. Gale Acquisition
30 Loan   All Storage Fort Worth Jay Schuminsky Refinance
31 Loan   All Storage Mayfield Jay Schuminsky Refinance
32 Loan   New Albany Market Thomas N. Brigdon II, Tyler M. Lucks, Whitney E. Lucks and Karl Schneider Refinance
33 Loan   Airport Plaza Munroe L. Spivock, William J. Spivock, Visit Taveethamcharoen, Munroe L. Spivock and William J. Spivock, as Co-Trustees of the Lewis Investment Trust dated December 21, 2016, William J. Spivock, as Trustee of the WJS Revocable Trust dated September 14, 2018, Munroe L. Spivock, as Trustee of the Munroe L. Spivock Revocable Trust dated July 19, 2013 and Visit Taveethamcharoen, as Trustee of the Visit Taveethamcharoen Trust dated April 28, 2017 Acquisition
34 Loan   All Storage McCart Jay Schuminsky Refinance
35 Loan   Weis Plaza Mike M. Nassimi Refinance
36 Loan   Storage Sense Colorado Springs George Thacker, Lawrence Charles Kaplan, and Richard Schontz Acquisition

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Loan Amount (sources) Principal’s New Cash Contribution (7) Subordinate Debt Other Sources Total Sources Loan Payoff Purchase Price Closing Costs Reserves Principal Equity Distribution Other Uses Total Uses Lockbox Cash Management
1 Loan 8, 9, 10, 11, 12, 13 365 Bond 110,000,000 0 100,000,000 0 210,000,000 180,635,054 0 2,889,081 24,180 26,451,685 0 210,000,000 Hard (Tenants) / Soft (Parking Garage) Springing
2 Loan 14, 15, 16 Torrance Towne Center 52,000,000 0 0 0 52,000,000 47,766,501 0 1,141,925 1,808,379 1,283,195 0 52,000,000 Springing Springing
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ 90,000,000 0 0 0 90,000,000 58,297,079 0 1,039,942 6,792,677 23,870,301 0 90,000,000 Springing Springing
4 Loan   Heitman Life Storage Portfolio 45,350,000 46,092,048 0 0 91,442,048 0 91,000,000 442,048 0 0 0 91,442,048 Soft Springing
4.01 Property   East Elliot Road                            
4.02 Property   FM 1431                            
4.03 Property   Rayford Road                            
4.04 Property   East Cornwallis Road                            
4.05 Property   McNeil Drive                            
4.06 Property   FM 2222                            
4.07 Property   South Congress Avenue                            
4.08 Property   Westheimer Road                            
4.09 Property   Shell Road                            
4.10 Property   Southwest Military Drive                            
4.11 Property   Old Denton Road                            
4.12 Property   West Camelback Road                            
5 Loan 21, 22 Albertsons Industrial - IL 41,400,000 31,621,944 53,062,500 0 126,084,444 0 124,950,000 1,134,444 0 0 0 126,084,444 Hard In Place
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 115,000,000 0 0 0 115,000,000 65,728,818 0 1,672,536 25,214,595 22,384,051 0 115,000,000 Hard In Place
7 Loan   Perimeter Square 35,000,000 9,924,788 0 0 44,924,788 44,445,389 0 479,399 0 0 0 44,924,788 Springing Springing
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue 182,000,000 0 0 0 182,000,000 124,865,096 0 5,527,780 3,668,201 47,938,924 0 182,000,000 Hard Springing
9 Loan 36 Residence Inn Chula Vista 29,000,000 0 0 0 29,000,000 20,572,243 0 301,118 92,040 8,034,600 0 29,000,000 Springing Springing
10 Loan 9, 37, 38 145 Clinton 68,200,000 0 0 0 68,200,000 28,035,340 0 1,010,837 1,016,150 38,137,673 0 68,200,000 Hard Springing
11 Loan 39, 40 Vee Pak Industrial Portfolio 26,845,000 14,358,470 0 126,820 41,330,290 0 40,823,000 507,290 0 0 0 41,330,290 Hard Springing
11.01 Property   6710 River Road                            
11.02 Property   5300-5320 Dansher Road                            
11.03 Property   5321-5331 Dansher Road                            
12 Loan 41, 42 Moxy Denver Cherry Creek 25,000,000 0 0 0 25,000,000 21,242,296 0 527,727 0 3,229,977 0 25,000,000 Hard Springing
13 Loan 43, 44 North Miami Business Park 22,000,000 12,630,251 0 530,860 35,161,111 0 34,500,000 486,114 174,997 0 0 35,161,111 Springing Springing
14 Loan   Dublin Office Portfolio 22,000,000 0 0 0 22,000,000 10,403,525 0 492,372 4,365,346 6,738,757 0 22,000,000 Springing Springing
14.01 Property   Parkwood II                            
14.02 Property 45 Emerald III                            
15 Loan 9, 46, 47 5444 & 5430 Westheimer 51,000,000 0 0 0 51,000,000 23,415,549 0 561,744 2,421,860 24,600,848 0 51,000,000 Hard Springing
16 Loan 48, 49 PPC Flexible Packaging Portfolio 19,300,000 10,053,718 0 0 29,353,718 0 29,200,000 153,718 0 0 0 29,353,718 Hard Springing
16.01 Property   PPC Payson                            
16.02 Property   PPC Rome                            
17 Loan   Life Time - Fort Worth 19,200,000 12,910,468 0 0 32,110,468 0 32,000,000 110,468 0 0 0 32,110,468 Hard Springing
18 Loan 50 Mercury Drive 19,000,000 7,134,722 0 0 26,134,722 0 26,000,000 123,520 11,202 0 0 26,134,722 Hard Springing
19 Loan 9 Albertsons Industrial - PA 76,732,500 29,954,367 0 11,805,000 118,491,867 0 117,050,000 1,441,867 0 0 0 118,491,867 Hard In Place
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio 47,750,000 16,195,652 0 3,802,088 67,747,740 0 63,750,000 558,331 3,439,409 0 0 67,747,740 Springing Springing
20.01 Property   Oak Brook Gateway                            
20.02 Property   Cornerstone I at Cantera                            
21 Loan   Jefferson Grove 14,500,000 0 0 0 14,500,000 12,160,498 0 404,299 62,339 1,872,863 0 14,500,000 None None
22 Loan 53 WoodSpring Orlando Portfolio 13,000,000 0 0 0 13,000,000 9,031,361 0 346,865 100,130 3,521,643 0 13,000,000 Springing Springing
22.01 Property   WoodSpring Suites Clermont                            
22.02 Property   WoodSpring Suites Clarcona                            
23 Loan   Bennington Square Apartments 12,400,000 0 0 0 12,400,000 7,449,005 0 193,193 472,895 4,284,906 0 12,400,000 Soft Springing
24 Loan 54 Mission Point Office 11,250,000 1,673,232 0 0 12,923,232 11,533,563 0 402,252 987,417 0 0 12,923,232 Springing Springing
25 Loan   Franklin Commons 10,050,000 5,708,109 0 0 15,758,109 0 15,450,000 273,432 34,677 0 0 15,758,109 Springing Springing
26 Loan 55 1933 North Meacham 9,700,000 0 0 0 9,700,000 6,620,312 0 223,102 1,542,820 1,313,765 0 9,700,000 Springing Springing
27 Loan   Craig Promenade 9,675,000 3,604,526 0 0 13,279,526 0 12,900,000 350,210 29,316 0 0 13,279,526 Hard Springing
28 Loan 56 Essex Crossing Site 6 8,750,000 0 0 0 8,750,000 3,278,802 0 633,947 2,750,968 2,086,283 0 8,750,000 Hard Springing
29 Loan   Church Ranch II 8,125,000 4,925,068 0 0 13,050,068 0 12,500,000 151,285 398,783 0 0 13,050,068 Springing Springing
30 Loan   All Storage Fort Worth 7,500,000 0 0 0 7,500,000 5,164,913 0 311,920 0 2,023,167 0 7,500,000 Springing Springing
31 Loan   All Storage Mayfield 7,000,000 0 0 0 7,000,000 5,795,624 0 314,372 0 890,004 0 7,000,000 Springing Springing
32 Loan   New Albany Market 6,372,000 0 0 0 6,372,000 5,594,277 0 153,958 107,259 516,506 0 6,372,000 Springing Springing
33 Loan   Airport Plaza 6,037,500 2,348,847 0 0 8,386,347 0 8,050,000 212,459 123,888 0 0 8,386,347 Springing Springing
34 Loan   All Storage McCart 5,500,000 0 0 0 5,500,000 3,892,705 0 315,850 0 1,291,445 0 5,500,000 Springing Springing
35 Loan   Weis Plaza 5,500,000 0 0 0 5,500,000 2,722,230 0 164,094 365,501 2,248,175 0 5,500,000 Hard Springing
36 Loan   Storage Sense Colorado Springs 2,020,000 913,401 0 15,709 2,949,109 0 2,792,250 143,811 13,048 0 0 2,949,109 Springing Springing

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Cash Management Triggers
1 Loan 8, 9, 10, 11, 12, 13 365 Bond (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.15x, (iii) Bankruptcy action of Borrower or Manager, (iv) the occurrence of a Mezzanine Loan Default
2 Loan 14, 15, 16 Torrance Towne Center (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Rollover Trigger Event
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) the occurrence of a Specified Tenant Trigger Period
4 Loan   Heitman Life Storage Portfolio (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) failure to deliver financial statements as required in the Loan Agreement
4.01 Property   East Elliot Road  
4.02 Property   FM 1431  
4.03 Property   Rayford Road  
4.04 Property   East Cornwallis Road  
4.05 Property   McNeil Drive  
4.06 Property   FM 2222  
4.07 Property   South Congress Avenue  
4.08 Property   Westheimer Road  
4.09 Property   Shell Road  
4.10 Property   Southwest Military Drive  
4.11 Property   Old Denton Road  
4.12 Property   West Camelback Road  
5 Loan 21, 22 Albertsons Industrial - IL (i) the occurrence of an Event of Default, (ii) Net Operating Income is less than 80% of Closing Date NOI, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) Bankruptcy action of either Albertsons Tenant or any guarantor under the Albertsons Lease, (v) the occurrence of a Tenant Vacancy Period, (vi) the occurrence of a Mezzanine Loan Default
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 (i) the occurrence of an Event of Default, (ii) Net Operating Income is less than 85% of Closing Date NOI, (iii) failure to deliver financial statements as required in the Loan Agreement
7 Loan   Perimeter Square (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.15x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Rollover Trigger Event
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x
9 Loan 36 Residence Inn Chula Vista (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.30x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) any period in which the Franchise Agreement or a replacement thereof is not in full force and effect
10 Loan 9, 37, 38 145 Clinton (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 5.75%, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) Target Tenant, Trader Joe’s Tenant or any Tenant that shall replace the Target Tenant or Trader Joe’s Tenant (x) terminates its lease, (y) vacates its space or (z) fails to extend or renew its lease
11 Loan 39, 40 Vee Pak Industrial Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) the occurrence of a Specified Tenant Trigger Period
11.01 Property   6710 River Road  
11.02 Property   5300-5320 Dansher Road  
11.03 Property   5321-5331 Dansher Road  
12 Loan 41, 42 Moxy Denver Cherry Creek (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.35x, (iii) failure to deliver financial statements as required in the Loan Agreement
13 Loan 43, 44 North Miami Business Park (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) the occurrence of a Specified Tenant Trigger Period
14 Loan   Dublin Office Portfolio (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 9.0%, (iii) the occurrence of a Rollover Trigger Event
14.01 Property   Parkwood II  
14.02 Property 45 Emerald III  
15 Loan 9, 46, 47 5444 & 5430 Westheimer (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.15x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) failure of Sponsor to maintain net worth and liquidity above the respective thresholds, (v) the occurrence of a Rollover Trigger Event
16 Loan 48, 49 PPC Flexible Packaging Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) Bankruptcy action of either Master Tenant, (v) the occurrence of a Go-Dark Event
16.01 Property   PPC Payson  
16.02 Property   PPC Rome  
17 Loan   Life Time - Fort Worth (i) the occurrence of an Event of Default, (ii) failure to deliver financial statements as required in the Loan Agreement, (iii) the occurrence of a Critical Tenant Trigger Event and failure to deposit cash or a Letter of Credit with a face amount equal to the Critical Tenant Reserve Deposit Amount
18 Loan 50 Mercury Drive (i) the occurrence of an Event of Default, (ii) Net Operating Income is less than 90% of Closing Date NOI, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Period, (v) the Indebtedness is not paid in full by the Initial Maturity Date
19 Loan 9 Albertsons Industrial - PA (i) the occurrence of an Event of Default, (ii) Net Operating Income is less than 80% of Closing Date NOI, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) Bankruptcy action of either Albertsons Tenant or any guarantor under the Albertsons Lease, (v) the occurrence of a Tenant Vacancy Period
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x
20.01 Property   Oak Brook Gateway  
20.02 Property   Cornerstone I at Cantera  
21 Loan   Jefferson Grove (i) the occurrence of an Event of Default, (ii) commencing in January 2020, DSCR is less than 1.15x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Deferred Maintenance Trigger Event
22 Loan 53 WoodSpring Orlando Portfolio (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.35x, (iii) failure to deliver financial statements as required in the Loan Agreement
22.01 Property   WoodSpring Suites Clermont  
22.02 Property   WoodSpring Suites Clarcona  
23 Loan   Bennington Square Apartments (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.30x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) failure to provide excess flood coverage and insurance for rental loss and/or business interruption due to casualty caused by flood with minimum limits of $1,000,000 within 30 days following the Closing Date
24 Loan 54 Mission Point Office (i) the occurrence of an Event of Default, (ii) commencing in January 2020, Debt Yield is less than 8.62%, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Rollover Trigger Event, (v) the occurrence of a Sponsor Financial Covenant Trigger Event
25 Loan   Franklin Commons (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 8.9%, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event, (v) the occurrence of a Shadow-Anchored Trigger Event
26 Loan 55 1933 North Meacham (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.15x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event
27 Loan   Craig Promenade (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event, (v) the occurrence of an Environmental Trigger Event
28 Loan 56 Essex Crossing Site 6 (i) the occurrence of an Event of Default, (ii) Debt Yield is less than 7.5%, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Rollover Tenant Trigger Event
29 Loan   Church Ranch II (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.25x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Rollover Trigger Event
30 Loan   All Storage Fort Worth (i) the occurrence of an Event of Default, (ii) failure to deliver financial statements as required in the Loan Agreement
31 Loan   All Storage Mayfield (i) the occurrence of an Event of Default, (ii) failure to deliver financial statements as required in the Loan Agreement
32 Loan   New Albany Market (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.10x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event
33 Loan   Airport Plaza (i) the occurrence of an Event of Default, (ii) Net Operating Income is less than 85% of Closing Date NOI, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event
34 Loan   All Storage McCart (i) the occurrence of an Event of Default, (ii) failure to deliver financial statements as required in the Loan Agreement
35 Loan   Weis Plaza (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x, (iii) failure to deliver financial statements as required in the Loan Agreement, (iv) the occurrence of a Critical Tenant Trigger Event
36 Loan   Storage Sense Colorado Springs (i) the occurrence of an Event of Default, (ii) DSCR is less than 1.20x

 

  

 

 

GSMS 2019-GC38 Annex A-1

 

Control Number Loan / Property Flag Footnotes Property Name Ground Lease Y/N Ground Lease Expiration Date Annual Ground Lease
Payment ($)		 Cut-off Date Pari Passu Companion Loan Balance ($) Cut-off Date Subordinate Companion Loan Balance ($) Subordinate Companion Loan Interest Rate Cut-off Date Mezzanine Debt Balance ($) Terrorism Insurance Required Franchise Agreement Expiration Control Number
1 Loan 8, 9, 10, 11, 12, 13 365 Bond No     45,000,000     100,000,000 Yes NAP 1
2 Loan 14, 15, 16 Torrance Towne Center Yes 3/31/2053 $923,967 plus Percentage Rent         Yes NAP 2
3 Loan 9, 17, 18, 19, 20 Pace Gallery HQ No     40,000,000       Yes NAP 3
4 Loan   Heitman Life Storage Portfolio               Yes NAP 4
4.01 Property   East Elliot Road No             Yes NAP 4.01
4.02 Property   FM 1431 No             Yes NAP 4.02
4.03 Property   Rayford Road No             Yes NAP 4.03
4.04 Property   East Cornwallis Road No             Yes NAP 4.04
4.05 Property   McNeil Drive No             Yes NAP 4.05
4.06 Property   FM 2222 No             Yes NAP 4.06
4.07 Property   South Congress Avenue No             Yes NAP 4.07
4.08 Property   Westheimer Road No             Yes NAP 4.08
4.09 Property   Shell Road No             Yes NAP 4.09
4.10 Property   Southwest Military Drive No             Yes NAP 4.10
4.11 Property   Old Denton Road No             Yes NAP 4.11
4.12 Property   West Camelback Road No             Yes NAP 4.12
5 Loan 21, 22 Albertsons Industrial - IL No           53,062,500 Yes NAP 5
6 Loan 9, 23, 24, 25, 26, 27, 28, 29, 30, 31 Pier 70 Yes 7/29/2081 See Annex Footnote 80,000,000       Yes NAP 6
7 Loan   Perimeter Square No             Yes NAP 7
8 Loan 8, 9, 32, 33, 34, 35 3 Park Avenue No     148,000,000       Yes NAP 8
9 Loan 36 Residence Inn Chula Vista No             Yes 10/13/2037 9
10 Loan 9, 37, 38 145 Clinton No     40,000,000       Yes NAP 10
11 Loan 39, 40 Vee Pak Industrial Portfolio               Yes NAP 11
11.01 Property   6710 River Road No             Yes NAP 11.01
11.02 Property   5300-5320 Dansher Road No             Yes NAP 11.02
11.03 Property   5321-5331 Dansher Road No             Yes NAP 11.03
12 Loan 41, 42 Moxy Denver Cherry Creek Yes 3/1/2115 187,614         Yes 11/1/2047 12
13 Loan 43, 44 North Miami Business Park No             Yes NAP 13
14 Loan   Dublin Office Portfolio               Yes NAP 14
14.01 Property   Parkwood II No             Yes NAP 14.01
14.02 Property 45 Emerald III No             Yes NAP 14.02
15 Loan 9, 46, 47 5444 & 5430 Westheimer No     30,000,000       Yes NAP 15
16 Loan 48, 49 PPC Flexible Packaging Portfolio               Yes NAP 16
16.01 Property   PPC Payson No             Yes NAP 16.01
16.02 Property   PPC Rome No             Yes NAP 16.02
17 Loan   Life Time - Fort Worth No             Yes NAP 17
18 Loan 50 Mercury Drive No             Yes NAP 18
19 Loan 9 Albertsons Industrial - PA No     61,732,500       Yes NAP 19
20 Loan 8, 9, 51, 52 Fairbridge Office Portfolio       32,750,000       Yes NAP 20
20.01 Property   Oak Brook Gateway No             Yes NAP 20.01
20.02 Property   Cornerstone I at Cantera No             Yes NAP 20.02
21 Loan   Jefferson Grove No             Yes NAP 21
22 Loan 53 WoodSpring Orlando Portfolio               Yes 5/16/2035 22
22.01 Property   WoodSpring Suites Clermont No             Yes 5/16/2035 22.01
22.02 Property   WoodSpring Suites Clarcona No             Yes 5/16/2035 22.02
23 Loan   Bennington Square Apartments No             Yes NAP 23
24 Loan 54 Mission Point Office No             Yes NAP 24
25 Loan   Franklin Commons No             Yes NAP 25
26 Loan 55 1933 North Meacham No             Yes NAP 26
27 Loan   Craig Promenade No             Yes NAP 27
28 Loan 56 Essex Crossing Site 6 No             Yes NAP 28
29 Loan   Church Ranch II No             Yes NAP 29
30 Loan   All Storage Fort Worth No             Yes NAP 30
31 Loan   All Storage Mayfield No             Yes NAP 31
32 Loan   New Albany Market No             Yes NAP 32
33 Loan   Airport Plaza No             Yes NAP 33
34 Loan   All Storage McCart No             Yes NAP 34
35 Loan   Weis Plaza No             Yes NAP 35
36 Loan   Storage Sense Colorado Springs No             Yes NAP 36

 

  

 

 

Footnotes to Annex A-1

 

(1) The Administrative Cost Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.
   
(2) The monthly debt service shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period.
   
(3) The open period is inclusive of the Maturity Date or Anticipated Repayment Date.
   
(4) Underwritten NCF DSCR is calculated based on amortizing debt service payments (except for interest-only loans).
   
(5) Occupancy reflects tenants that have signed leases, but are not yet in occupancy or may not be paying rent.
   
(6) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease.
   
(7) If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field “Principal’s New Cash Contribution” reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field “Principal’s New Cash Contribution” reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated.
   
(8) The lockout period will be at least 26 payment dates beginning with and including the first payment date of January 2019. For the purpose of this prospectus, the assumed lockout period of 26 payment dates is based on the expected GSMS 2019-GC38 securitization closing date in February 2019. The actual lockout period may be longer.
   
(9) The Mortgage Loan is part of a whole loan structure. Cut-off Date LTV Ratio, LTV Ratio at Maturity / ARD, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the Mortgage Loan and any related Pari Passu Companion Loans, but excluding any related Subordinate Companion Loans.
   
(10) On each Due Date during the continuance of a DSCR Trigger Period or during the continuance of an event of default under the Whole Loan, the borrower is required to fund a replacement reserve in an amount equal to approximately $8,958. A DSCR Trigger Period has been continuing since origination. As of the origination of the Whole Loan, the debt service coverage ratio (as calculated under the loan documents) of the Whole Loan and the Mezzanine Loans was approximately 1.14x. A “DSCR Trigger Period” means each period commencing when the DSCR (as calculated under the loan documents) of the Whole Loan and the Mezzanine Loans, based on the trailing three-month period as of any date of determination, is less than 1.15x, and ending when the DSCR (as calculated under the loan documents) of the Whole Loan and the Mezzanine Loans, for the two consecutive calendar quarters immediately preceding the date of determination based upon the trailing three-month period immediately preceding such date of determination, is at least 1.15x (provided there is no continuing event of default under the Whole Loan or any Mezzanine Loan).
   
(11) On each business day during the continuance of a Trigger Period, all amounts in the lockbox account are required to be remitted to a lender-controlled cash management account. A DSCR Trigger Period has been continuing since origination. As of the origination of the Whole Loan, the debt service coverage ratio (as calculated under the loan documents) of the Whole Loan and the Mezzanine Loans was approximately 1.14x. A “Trigger Period” means each period (i) during the continuation of an event of default under the Whole Loan or a Mezzanine Loan, (ii) commencing upon any bankruptcy or similar insolvency proceeding with respect to the property manager, and ending when the borrower replaces the property manager (if such replacement occurs within 60 days of such bankruptcy action), (iii) from and after any bankruptcy or similar insolvency proceeding with respect to the borrower, and (iv) during the continuance of a DSCR Trigger Period.
   
(12) Concurrently with the origination of the Whole Loan, (i) Goldman Sachs Bank USA made a mezzanine loan with an Original and Cut-off Date Balance of $70,000,000 (the “Mezzanine A Loan”), and (ii) 365 Mezz Funding LLC made a mezzanine loan with an Original and Cut-off Date Balance of $30,000,000 (the “Mezzanine B Loan”,

 

  

 

 

  and together with the Mezzanine A Loan, the “Mezzanine Loans”). The Mezzanine A Loan has an interest rate of 5.7000% per annum and the Mezzanine B Loan has an interest rate of 8.0000% per annum and are coterminous with the Whole Loan.
   
(13) The Mortgaged Property includes two small retail spaces, which are occupied by Gowanus Dredger’s Canoe Club and D’Amico Coffee, and account for approximately 0.5% of in-place rents.
   
(14) On each Due Date, the borrower is required to deposit into the (i) tax reserve account an Ongoing RE Tax Reserve amount equal to one-twelfth of the property taxes that the lender reasonably estimates will be payable during the next ensuing 12 months, except for any portion of property taxes that the Kohl’s Department Store (GL) tenant is paying, (ii) insurance reserve account an Ongoing Insurance Reserve amount equal to one-twelfth (one-eleventh for the first year) of the insurance premiums that the lender reasonably estimates will be payable during the next ensuing 12 months (or the next ensuing 11 months for the first year), (iii) ground rent reserve account an Ongoing Other Reserve amount equal to one-twelfth of the ground rents that the lender reasonably estimates will be payable during the next ensuing 12 months, unless the borrower is paying the ground rent (in which case, the borrower will be required to maintain on reserve an amount equal to one month of ground rent), (iv) TI/LC reserve account an Ongoing TI/LC Reserve amount equal to $16,580, unless the amount contained in such reserve is equal to at least $550,000 (excluding termination proceeds), (v) replacement reserve account an Ongoing Replacement Reserve amount of approximately $4,421 (or $2,826 for so long as the Rollover Tenant is required to pay for all capital expenditures relating to its premises and there is no continuing event of default under the Loan or any lease with a Rollover Tenant), unless the amount contained in such reserve is equal to at least $100,000. A “Rollover Tenant” means (i) Kohl’s Department Stores, Inc. and (ii) any successor tenant to the Kohl’s Department Stores, Inc. leased premises.
   
(15) The Largest Tenant, Kohl’s Department Store (GL), is a sub-ground lease tenant. The City of Torrance owns the land and the tenant owns the improvements.
   
(16) The Phase I environmental report recommended a limited Phase II environmental report at the Mortgaged Property. In lieu of a Phase II environmental report, the lender required the borrower to obtain environmental insurance at origination with per occurrence and aggregate limits of $3,000,000 and an initial term of 13 years.
   
(17) The lockout period will be at least 24 payment dates beginning with and including the first payment date of March 2019. For the purpose of this prospectus, the assumed lockout period of 24 payment dates is based on the expected GSMS 2019-GC38 securitization closing date in February 2019. The actual lockout period may be longer.
   
(18) The Mortgaged Property was built in 2018, therefore no historical information is available.
   
(19) The Appraised Value represents the prospective market value upon stabilization as of May 1, 2019 which assumes that the interior build-out of the space is completed for The Pace Gallery HQ Property. At origination, the lender reserved $6,792,677.38 for the estimated outstanding costs related to the interior build out. The borrower sponsor posted a $19,000,000 letter of credit, which is released upon the lender’s receipt of evidence that Pace Gallery LLC has completed its interior build out and a TCO has been issued for the entire Property. The Cut-off Date LTV Ratio and Maturity Date LTV Ratio are calculated based upon the Appraised Value of $180,000,000. The Cut-off Date LTV Ratio and Maturity Date LTV Ratio based on the “as-is” appraised value of $170,000,000, are both 52.9%.
   
(20) The sole tenant at the Mortgaged Property, The Pace Gallery LLC, began paying rent on December 15, 2018, but is not yet in occupancy of its space. The Pace Gallery LLC is expected to take occupancy of its space in May 2019 after the interior build out is completed.
   
(21) Commencing on the Anticipated Repayment Date, the interest rate increases to greater of (i) the interest rate that was otherwise applicable to such note or note component prior to the Anticipated Repayment Date plus 300 basis points, (ii) 6.8600%, and (iii) the 5-year swap rate as of two business days prior to the Anticipated Repayment Date plus 414 basis points.
   
(22) Concurrently with the origination of the Albertsons Industrial - IL Loan, (i) Goldman Sachs Mortgage Company made a mezzanine loan with an Original and Cut-off Date Balance of $40,467,500 (the “Albertsons Industrial - IL Mezzanine A Loan”), and (ii) CF Albertsons Chicago, LLC made a mezzanine loan with an Original and Cut-off Date Balance of $12,595,000 (the “Albertsons Industrial - IL Mezzanine B Loan”, and together with the Albertsons Industrial - IL Mezzanine A Loan, the “Albertsons Industrial - IL Mezzanine Loans”). The Albertsons Industrial - IL Mezzanine A Loan carries an interest rate of (i) prior to the ARD, 6.2500% per annum and (ii) from and after the ARD, the greater of (a) 9.2500% and (b) the rate for U.S. dollar swaps with a five-year maturity,

 

  

 

 

  as of two business days prior to the ARD, plus 6.3300% per annum. The Albertsons Industrial - IL Mezzanine B Loan carries an interest rate of (i) prior to the ARD, 7.7500% per annum and (ii) from and after the ARD, the greater of (a) 11.7400% and (b) the rate for U.S. dollar swaps with a five-year maturity, as of two business days prior to the ARD, plus 8.8200% per annum.
   
(23) The Appraised Value represents the “as-is” Appraised Value of the Mortgaged Property. The Cut-off Date LTV Ratio is calculated on the basis of such “as-is” Appraised Value. The LTV Ratio at Maturity / ARD is calculated on the basis of the “as stabilized” Appraised Value, which assumes the stabilized operation of the Mortgaged Property including completion of unfunded obligations less the net present value of the minimum rent ground lease payments.
   
(24) The Whole Loan is structured with a hard lockbox. The borrower is required to direct the tenants (other than the tenants leasing space that is subject to the master lease) to pay rent directly to a lender-controlled lockbox account and the borrower is required to cause all cash revenues relating to the Mortgaged Property (including rents received from the master tenant under the master lease) and all other money received by the borrower or the property manager with respect to the Mortgaged Property (other than (i) tenant security deposits required to be held in escrow accounts and (ii) amounts due to the master tenant under the leases relating to space that is subject to the master lease) to be deposited into such lockbox account or a lender-controlled cash management account within one business day of receipt.
   
(25) The Mortgaged Property is subject to a ground lease that commenced on July 29, 2015, expires on July 29, 2081, and has no extension options. The borrower is required to pay the following amounts under the ground lease, among other things: (i) on each payment date beginning on the Developer Equity Repayment Date, an amount equal to 50% of any remaining revenues and payments received by the borrower from the Mortgaged Property (provided that while the master lease is in place, rents from the master tenant are disregarded and the revenues and payments received by the master tenant less operating expenses are included instead) after subtracting out operating expenses, debt service payments due under the Whole Loan and the Port Loan and any parking tax payable to the City of San Francisco (the “Participation Rent”) and (ii) on each payment date beginning on the 10th anniversary of the Developer Equity Repayment Date, an amount equal to $16,667, adjusted based on the consumer price index every five years (the “Minimum Rent”). Minimum Rent will not be due under the ground lease for any month in which Participation Rent due for such month is greater than the amount of Minimum Rent that would be due for such month.
   
(26) For tenants with multiple lease expirations, the expiration date associated with the largest square footage is shown.
   
(27) The Second Largest Tenant, JUUL, subleases 46,002 SF from Tea Collection. The sublease expires in September 2022. JUUL has executed a direct lease with respect to such space, which will commence in October 2022, following the expiration of the Tea Collection lease.
   
(28) The Second Largest Tenant, JUUL, which leases approximately 19.0% of NRA (including the below expansion space), has executed a lease for a 14,323 SF (approximately 4.4% of NRA) expansion space, with respect to which JUUL is not anticipated to take occupancy and begin paying rent until April 2019. The Third Largest Tenant, Restoration Hardware, which leases approximately 17.3% of NRA, has executed a lease and is paying rent, but is not anticipated to take occupancy of its 55,950 SF space until January 2020. Restoration Hardware’s space is under construction and anticipated to be completed in December 2019. The Fourth Largest Tenant, Gusto, which leases approximately 15.7% of NRA, has executed a lease for 1,089 SF (approximately 0.3% of NRA), with respect to which Gusto has executed a lease and is paying rent, but is not anticipated to take occupancy until June 2019.
   
(29) On each Due Date, if and to the extent the amount contained in the TI/LC reserve account is less than $2,000,000, the borrower is required to deposit into the TI/LC reserve account an Ongoing TI/LC Reserve amount equal to $40,352.
   
(30) The borrower will be required to fund (i) with respect to the Participation Rent, on each payment date beginning on the date at which the developer recoups their equity and achieves an initial return on investment (the “Developer Equity Repayment Date”) and (ii) with respect to the Minimum Rent, on each payment date beginning on the 10th anniversary of the Developer Equity Repayment Date, the ground rent reserve in a monthly amount equal to 1/12 of the applicable amount of ground rent that the lender reasonably estimates will be payable during the next ensuing 12 months.

 

  

 

 

(31) On or prior to the date that is the earlier to occur of (i) June 1, 2024 or (ii) 90 days prior to the fifth anniversary of the date on which the last historic building is placed in service for purposes of Section 47(b) of the Internal Revenue Code, either (i) the borrower will be required to either escrow, or provide a letter of credit equal to, an amount equal to $1,018,323 (or such larger amount as the lender determines in good faith is the estimated price of the Put Option) or (ii) all amounts in the cash management account in excess of debt service, operating expenses and required reserves (other than the major tenant and excess cash flow reserves) will be reserved in the Put Option reserve (subject to a cap of $1,018,323 or such larger amount as the lender determines in good faith is the estimated price of the Put Option).
   
(32) The Largest Tenant, Houghton Mifflin Harcourt, leases 101,421 SF of space that expires on December 31, 2027 and 400 SF of space that expires on May 31, 2019. The Fourth Largest Tenant, Return Path, Inc., leases 23,280 SF of space that expires on July 31, 2025 and 22,722 SF of space that expires on February 29, 2020.
   
(33) (i) On each Due Date on which the balance in the TI/LC reserve is below $2,000,000, the borrower is required to deposit an amount equal to $100,000; (ii) on each Due Date on which the balance in the TI/LC reserve is equal to or greater than $2,000,000 and below $3,000,000, the borrower is required to deposit a monthly amount equal to $50,000 and (iii) if the balance in the TI/LC reserve account is equal to or greater than $3,000,000, the borrower is not required to make monthly deposits in to the TI/LC reserve account.
   
(34) The borrower is required under the related loan documents to pay for and perform 100% of the unfunded landlord obligations ($1,523,458) and deferred maintenance ($28,500, which is the estimated cost according to the engineering report) at the Mortgaged Property. If an event of default has occurred and is continuing, or if the borrower has breached any requirements under the loan documents, the borrower is required to deliver cash or a letter of credit to the lender in the amount that the lender determines is necessary to complete all unfunded landlord obligations, deferred maintenance and any remaining unfunded free rent obligations.
   
(35) The borrower is both the ground lessee and ground lessor under a ground lease encumbering the Mortgaged Property.
   
(36) The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) for the Due Dates occurring in January 2019 through December 2019, approximately $21,370, (ii) for the Due Dates occurring in January 2020 through December 2020, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) 1/12th of 3% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in December and (iii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) 1/12th of 4% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in December.
   
(37) The property is a mixed use building containing multifamily units on the upper floors and multi-level retail space on the lower floors. The retail portion secures the 145 Clinton Whole Loan and the multifamily portion is not collateral for the 145 Clinton Whole Loan.
   
(38) The Third Largest Tenant, Time Warner Cable, has executed a lease but has not yet taken occupancy for 4,000 SF (approximately 6.0% of the net rentable area) of its leased premises or commenced paying rent. Time Warner Cable is anticipated to take occupancy at the end of February 2019 and begin paying rent in June 2019. We cannot assure you that this tenant will take occupancy or pay rent as anticipated or at all.
   
(39) Vee Pak currently leases 100.0% of the space at the 6710 River Road and 5321-5331 Dansher Road mortgaged properties and 43,591 SF of the 161,591 SF available at the 5300-5320 Dansher Road mortgaged property. Vee Pak currently subleases the remaining 118,000 SF of space to MakeSpace Labs Inc. through December 2022 with one, three-year renewal option at the 5300-5320 Dansher Road Property. Prior to the acquisition of the 5300-5320 Dansher Road Property by the borrower sponsor, the Property was owned by a third party landlord who leased 43,591 SF of space to Vee Pak and 118,000 SF of space to MakeSpace Labs Inc. In order to complete the sale lease-back acquisition with respect to the 5300-5320 Dansher Road Property, Vee Pak entered into a master lease with the borrower that covers the Vee Pak Industrial Portfolio Properties. Vee Pak pays rent on the total 546,591 SF of GLA under the master lease and, in turn, directly receives rental payments from MakeSpace Labs Inc.
   
(40) Due to the timing and nature of the sale lease-back transactions that occurred in connection with the origination of the Vee Pak Industrial Portfolio Loan, no historical information is available.

 

  

 

 

(41) The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) for the Due Dates occurring in February 2019 through January 2020, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement or the management agreement for the replacement of FF&E or (b) 1/12th of 2.0% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in December; (ii) for the Due Dates which occur in February 2020 through January 2021, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement and the management agreement for the replacement of FF&E or (b) 1/12th of 3.0% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in December; and (iii) thereafter, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) 1/12th of 4.0% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in December.
   
(42) With respect to the Most Recent financials, the Mortgaged Property had offline rooms due to water damage between December 2017 and September 2018, for which the borrower received business interruption insurance proceeds.
   
(43) The Mortgaged Property is comprised of 191,840 SF of small bay industrial space, which accounts for 89.4% of NRA and 90.3% of underwritten base rent, and 22,728 SF of self storage space, which accounts for 10.6% of NRA and 9.7% of underwritten base rent.
   
(44) 20.3% of total SF is leased to MTM tenants at the Mortgaged Property, accounting for 22.5% of adjusted base rent.
   
(45) The Fifth Largest Tenant, ClearChoice Management Services, LLC, has not executed a lease and has not yet taken occupancy or begun paying rent. ClearChoice Management Services, LLC is anticipated to execute its lease in February 2019, take occupancy and begin paying rent in August 2019. We cannot assure you that this tenant will take occupancy or pay rent as anticipated or at all.
   
(46) If on July 1, 2022, the balance of funds on deposit in the TI/LC reserve account (such amount, the “2022 TI/LC Balance”) is less than $1,200,000, beginning on the payment date occurring in July 2022, and on each subsequent payment date occurring during the remainder of calendar year 2022 (through and including the payment date occurring in December 2022), in lieu of depositing $29,167, the borrower is required to deposit into the TI/LC reserve account, in equal monthly installments, an amount equal to 1/6th of the difference between the 2022 TI/LC Balance and $1,200,000. For the avoidance of doubt, beginning with the payment date occurring in January 2023, and on each payment date thereafter, the borrower will recommence deposits of $29,167.
   
(47) The Second Largest Tenant, AECOM Technology Corp, subleases 28,621 SF to Fiesta Mart and 19,615 SF to Swagger Media and Versa Creative Group.
   
(48) The Replacement Reserve Cap is calculated as the product of (x) $0.30 times (y) the aggregate number of rentable square feet then contained in the Mortgaged Properties. As of the Cut-off Date, the aggregate number of rentable square feet is 474,299.
   
(49) The TI/LC Cap is calculated as the product of (x) $1.50 times (y) the aggregate number of rentable square feet then contained in the Mortgaged Properties. As of the Cut-off Date, the aggregate number of rentable square feet is 474,299.
   
(50) Commencing on the Due Date that occurs on the initial Maturity Date, the interest rate increases to the greater of (i) the interest rate plus 300 basis points or (ii) the swap rate as of the initial Maturity Date plus 513 basis points.
   
(51) The TI/LC Caps ($) will be $1,700,000 commencing on the Due Date in January 2021.
   
(52) On each Due Date, the borrower is required to deposit $70,680 into the Ongoing TI/LC Reserve ($) account commencing on the First Due Date in January 2019 through the Due Date occurring in December 2020. On the Due Date occurring in January 2021 and thereafter, the borrower is required to deposit $38,553 into the Ongoing TI/LC Reserve ($) account.

 

  

 

 

(53) The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $13,486 for the Due Dates which occur in November 2018 through October 2019 and (ii) thereafter, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) 1/12th of 4.0% of the operating income of the Mortgaged Property for the previous 12-month period as determined on the anniversary of the last day of the calendar month in September.
   
(54) The borrower is required to deposit into the TI/LC reserve account an Ongoing TI/LC Reserve amount equal to (i) on the Due Date in December 2018 and on each Due Date thereafter through and including the Due Date in November 2019, $16,667, (ii) on the Due Date in December 2019 and on each Due Date thereafter through and including the Due Date in November 2020, $12,500, and (iii) on the Due Date in December 2020 and on each Due Date thereafter, $8,333.
   
(55) On each Due Date, if and to the extent the amount contained in the TI/LC reserve account is less than $350,000, the borrower is required to deposit into the TI/LC reserve account an Ongoing TI/LC Reserve amount equal to $12,500.
   
(56) The total SF at the Mortgaged Property includes a 5,647 SF management office, for which no rent is attributable, and is not listed as a tenant.