FWP 1 n2231-x3_anxa1.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
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This material was prepared by sales, trading, banking or other non-research personnel of one of the following (or an affiliate thereof): BofA Securities, Inc. (together with its affiliates, “BofA Securities"), Wells Fargo Securities, LLC (together with its affiliates, “Wells Fargo” ), Morgan Stanley & Co. LLC, Morgan Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter “Morgan Stanley”), Academy Securities, Inc. (together with its affiliates, "Academy") or Drexel Hamilton, LLC (together with its affiliates, “Drexel” and, collectively with BofA Securities, Wells Fargo, Morgan Stanley and Academy the “Underwriters”). This material was not produced by an Underwriter’s research analyst, although it may refer to an Underwriter’s research analyst or research report. Unless otherwise indicated, these views (if any) are the author’s and may differ from those of the fixed income or equity research departments of the Underwriters or others in those firms.

 

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Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name % of Initial
Pool Balance
Mortgage
Loan
Originator(1)
Mortgage
Loan Seller(1)
Original
Balance
Cut-off Date
Balance
Maturity/ARD
Balance
Cut-off Date
Balance per SF/
Units/Rooms/Pads
Loan Purpose Sponsor Non-Recourse Carveout Guarantor  
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino 9.9% MSBNA MSMCH $61,000,000 $61,000,000 $61,000,000 $426,188.66 Acquisition BREIT Operating Partnership L.P. BREIT Operating Partnership L.P.  
Loan 5 2 55 Hudson Yards 8.7% WFB WFB $54,000,000 $54,000,000 $54,000,000 $660.28 Recapitalization Mitsui Fudosan America, Inc.; The Related Companies, L.P.; OP Olympic Capital Corp (US), Inc. N/A  
Loan 5, 8 3 525 Market 8.1% WFB WFB $50,000,000 $50,000,000 $50,000,000 $454.47 Recapitalization New York State Teachers’ Retirement System; RREEF America REIT II, Inc. N/A  
Loan 5 4 200 West 57th Street 7.3% MSBNA MSMCH $45,000,000 $45,000,000 $45,000,000 $670.96 Recapitalization Feil Organization Jeffrey J. Feil  
Loan 5 5 Ralph Lauren HQ New Jersey 7.1% MSBNA MSMCH $44,000,000 $44,000,000 $44,000,000 $223.51 Acquisition Laulima Capital Investors, LLC N/A  
Loan 5, 8, 9, 12 6 711 Fifth Avenue 7.0% BANA BANA $43,000,000 $43,000,000 $43,000,000 $1,602.83 Refinance Bayerische Versorgungskammer; Deutsche Finance America LLC; DF Deutsche Finance Holding AG; Hessen Lawyers Pension Fund 711 Fifth Ave Principal Owner LLC  
Loan 5, 8 7 1633 Broadway 6.5% WFB WFB $40,000,000 $40,000,000 $40,000,000 $390.78 Refinance Paramount Group Operating Partnership LP N/A  
Loan 5, 8 8 560 Mission Street 4.9% BANA BANA $30,000,000 $30,000,000 $30,000,000 $449.00 Recapitalization National Office Partners LLC NOP 560 Mission, LLC  
Loan   9 3300 West Sahara 3.8% BANA BANA $23,175,000 $23,175,000 $23,175,000 $102.63 Refinance Omninet Capital, LLC Neil Kadisha; Benjamin Nazarian  
Loan   10 Laidley Tower 2.8% WFB WFB $17,000,000 $17,000,000 $17,000,000 $79.90 Refinance Jahan Moslehi; Andy Chien Bridge33 Real Estate Partners LP  
Loan 6 11 Rosewood Self Storage Portfolio 2.7% WFB WFB $16,939,000 $16,939,000 $16,939,000 $70.99 Acquisition Broderick Perdue; Greg Bates RPC Reliance, LLC  
Property   11.01 Northwest Highway Overview 1.0% WFB WFB $6,024,283 $6,024,283 $6,024,283          
Property   11.02 Forest Lane Overview 0.9% WFB WFB $5,519,374 $5,519,374 $5,519,374          
Property   11.03 Walnut Hill 0.5% WFB WFB $3,364,429 $3,364,429 $3,364,429          
Property   11.04 Cooper Overview 0.3% WFB WFB $2,030,915 $2,030,915 $2,030,915          
Loan   12 StorQuest Self Storage - Indio 2.1% BANA BANA $13,125,000 $13,125,000 $13,125,000 $92.21 Refinance William Warren Group William W. Hobin; Clark W. Porter; Timothy B. Hobin.  
Loan 6, 9 13 Central Self Storage Portfolio Idaho 2.1% BANA BANA $13,000,000 $13,000,000 $13,000,000 $24.80 Refinance William Schmicker; Dwight Davis Dwight William Davis; Dwight W. Davis and Glee Ann Davis Trust; William D. Schmicker; The Schmicker Revocable Trust
Property   13.01 Central Self Storage Idaho - Meridian 0.7% BANA BANA $4,062,500 $4,062,500 $4,062,500          
Property   13.02 Central Self Storage Idaho - Star 0.5% BANA BANA $3,348,128 $3,348,128 $3,348,128          
Property   13.03 Central Self Storage Idaho - Boise 0.5% BANA BANA $3,195,048 $3,195,048 $3,195,048          
Property   13.04 Central Self Storage Idaho - Caldwell 0.4% BANA BANA $2,394,324 $2,394,324 $2,394,324          
Loan   14 GoodFriend Self Storage - East Hampton 2.0% BANA BANA $12,650,000 $12,650,000 $12,650,000 $330.29 Refinance Marc Slayton Gerald Cohen; Marc Slayton  
Loan   15 Lowe’s - Fairlawn, OH 2.0% MSBNA MSMCH $12,487,500 $12,487,500 $12,487,500 $96.77 Acquisition John A. Franklin John A. Franklin  
Loan   16 Agoura Meadows Shopping Center 1.8% WFB WFB $11,000,000 $11,000,000 $11,000,000 $110.93 Refinance Bradley Snyder; Pat Wilkison N/A  
Loan   17 StorQuest Self Storage - La Quinta 1.5% BANA BANA $9,125,000 $9,125,000 $9,125,000 $120.65 Refinance William Warren Group William W. Hobin; Clark W. Porter; Timothy B. Hobin.  
Loan   18 Central Self Storage - Broadway 1.4% BANA BANA $8,500,000 $8,500,000 $8,500,000 $114.75 Refinance William Schmicker; Dwight Davis Dwight William Davis; Dwight W. Davis and Glee Ann Davis Trust; William D. Schmicker; The Schmicker Revocable Trust
Loan   19 River Oaks Shopping Center 1.4% MSBNA MSMCH $8,418,000 $8,418,000 $7,113,996 $61.63 Acquisition James J. Morrison, Jr. James J. Morrison, Jr.  
Loan   20 The Playa Merced Shopping Center 1.4% WFB WFB $8,364,000 $8,364,000 $7,554,894 $122.63 Acquisition Ronen Armony Ronen Armony  
Loan   21 Four Corners Self Storage 1.3% BANA BANA $8,200,000 $8,200,000 $8,200,000 $155.75 Refinance Chris G. Pallis Chris G. Pallis  
Loan   22 Gillmor - Reno 1.3% WFB WFB $8,000,000 $8,000,000 $8,000,000 $126.92 Refinance Gary G. Gillmor; Gary G. Gillmor 1995 Revocable Trust Gary G. Gillmor; Gary G. Gillmor 1995 Revocable Trust  
Loan   23 Central Self Storage - Antioch 1.3% BANA BANA $8,000,000 $8,000,000 $8,000,000 $107.74 Refinance William Schmicker; Dwight Davis Dwight William Davis; Dwight W. Davis and Glee Ann Davis Trust; William D. Schmicker; The Schmicker Revocable Trust
Loan   24 First Choice Self Storage - Grapevine 1.3% BANA BANA $8,000,000 $8,000,000 $6,471,480 $80.18 Refinance Mark Boswell Mark Boswell  
Loan 6, 7 25 Aspen Self Storage Portfolio 1.3% MSBNA MSMCH $7,999,000 $7,999,000 $7,999,000 $30.85 Refinance Charles G. Palmer Charles Palmer; The Charles G. Palmer Inter Vivos Trust U/A Dated March 12, 1993  
Property   25.01 1900-1912 West New Orleans Street 0.7% MSBNA MSMCH $4,084,000 $4,084,000 $4,084,000          
Property   25.02 12919-12989 East 31st Street 0.4% MSBNA MSMCH $2,565,000 $2,565,000 $2,565,000          
Property   25.03 1301 South York Street 0.2% MSBNA MSMCH $1,350,000 $1,350,000 $1,350,000          
Loan   26 Preserve at Quail Pass Phase III 1.2% MSBNA MSMCH $7,600,000 $7,600,000 $7,600,000 $124,590.16 Refinance Steven B. Kimmelman; David M. Conwill; Leslie Leohr Steven B. Kimmelman; David M. Conwill; Leslie Leohr  
Loan   27 Central Self Storage - Concord 1.2% BANA BANA $7,500,000 $7,500,000 $7,500,000 $81.68 Refinance William Schmicker; Dwight Davis Dwight William Davis; Dwight W. Davis and Glee Ann Davis Trust; William D. Schmicker; The Schmicker Revocable Trust
Loan 6 28 Stor-All Portfolio KS 1.0% BANA BANA $6,131,250 $6,131,250 $5,130,696 $50.21 Acquisition GYS Development, LLC Charles Lee Fredrick; Brandon Grebe; Michael Perry  
Property   28.01 Stor-All Pawnee 0.5% BANA BANA $3,022,749 $3,022,749 $2,529,469          
Property   28.02 Stor-All Amidon 0.4% BANA BANA $2,572,552 $2,572,552 $2,152,740          
Property   28.03 Stor-All Hydraulic 0.1% BANA BANA $535,948 $535,948 $448,487          
Loan   29 Cabela’s Outpost Saginaw 1.0% BANA BANA $6,000,000 $5,982,622 $4,740,247 $122.47 Acquisition Etkin Family Harold J. Etkin; Johanne Etkin-Finley  
Loan   30 Airpark Drive 0.9% WFB WFB $5,800,000 $5,800,000 $5,800,000 $159.78 Acquisition Damien Mavis; Damien and Kathryne Mavis Revocable Trust Damien Mavis; Damien and Kathryne Mavis Revocable Trust  
Loan   31 Frisco Lakes III Shopping Center 0.9% WFB WFB $5,650,000 $5,650,000 $5,119,195 $248.64 Acquisition Mark Fickett; Mary Fickett; Fickett Family Trust; Frank Williams; Judith Williams; Williams Family Trust Mark Fickett; Mary Fickett; Fickett Family Trust; Frank Williams; Judith Williams; Williams Family Trust
Loan   32 EL Monte Plaza 0.8% WFB WFB $5,175,000 $5,175,000 $5,175,000 $115.57 Refinance Salim Yamini; Salim and Yasaman Yamini 2006 Trust Salim Yamini; Salim and Yasaman Yamini 2006 Trust  
Loan   33 Aldi - Bellflower 0.8% MSBNA MSMCH $4,750,000 $4,736,296 $3,755,440 $135.32 Recapitalization Auburndale Properties, LLC Shadrall Associates  
Loan   34 Skyway Self Storage 0.7% BANA BANA $4,100,000 $4,100,000 $4,100,000 $148.27 Refinance Chris G. Pallis Chris G. Pallis  
Loan   35 Statham Oaks Self Storage 0.4% WFB WFB $2,600,000 $2,600,000 $2,600,000 $62.76 Acquisition James Alston Berry; Highline Real Estate Partners, LLC James Alston Berry; Highline Real Estate Partners, LLC  
Loan   36 Central Self Storage - Dunlap 0.3% BANA BANA $1,600,000 $1,600,000 $1,600,000 $16.22 Refinance William Schmicker; Dwight Davis Dwight William Davis; Dwight W. Davis and Glee Ann Davis Trust; William D. Schmicker; The Schmicker Revocable Trust
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name No. of
Properties
General Property Type Detailed Property Type Title Type Ground Lease
Initial Lease
Expiration Date
Hotel Franchise Agreement Expiration Date Address City
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino 1 Hospitality Full Service Fee/Leasehold 4/27/2033 N/A 3600 South Las Vegas Boulevard Las Vegas
Loan 5 2 55 Hudson Yards 1 Office CBD Fee N/A N/A 550 West 34th Street New York
Loan 5, 8 3 525 Market 1 Office CBD Fee/Leasehold/Subleasehold N/A N/A 525 Market Street San Francisco
Loan 5 4 200 West 57th Street 1 Office CBD Fee N/A N/A 200 West 57th Street New York
Loan 5 5 Ralph Lauren HQ New Jersey 1 Office Single Tenant Fee N/A N/A 100 Metro Boulevard Nutley
Loan 5, 8, 9, 12 6 711 Fifth Avenue 1 Mixed Use Office/Retail Fee N/A N/A 711 Fifth Avenue New York
Loan 5, 8 7 1633 Broadway 1 Office CBD Fee N/A N/A 1633 Broadway New York
Loan 5, 8 8 560 Mission Street 1 Office CBD Fee N/A N/A 560 Mission Street San Francisco
Loan   9 3300 West Sahara 1 Office CBD Fee N/A N/A 3300 West Sahara Avenue Las Vegas
Loan   10 Laidley Tower 1 Office CBD Fee N/A N/A 500 Lee Street East & 517 Washington Street East Charleston
Loan 6 11 Rosewood Self Storage Portfolio 4              
Property   11.01 Northwest Highway Overview   Self Storage Self Storage Fee N/A N/A 3335 Northwest Highway Dallas
Property   11.02 Forest Lane Overview   Self Storage Self Storage Fee N/A N/A 3334 Forest Lane Dallas
Property   11.03 Walnut Hill   Self Storage Self Storage Fee N/A N/A 10664 Walnut Hill Lane Dallas
Property   11.04 Cooper Overview   Self Storage Self Storage Fee N/A N/A 3057 South Cooper Street Arlington
Loan   12 StorQuest Self Storage - Indio 1 Self Storage Self Storage Fee N/A N/A 83614 Dr Carreon Boulevard & 83655 Date Avenue Indio
Loan 6, 9 13 Central Self Storage Portfolio Idaho 4              
Property   13.01 Central Self Storage Idaho - Meridian   Self Storage Self Storage Fee N/A N/A 925 West Overland Road Meridian
Property   13.02 Central Self Storage Idaho - Star   Self Storage Self Storage Fee N/A N/A 9870 West State Street Star
Property   13.03 Central Self Storage Idaho - Boise   Self Storage Self Storage Fee N/A N/A 8303 West Vincent Street Boise
Property   13.04 Central Self Storage Idaho - Caldwell   Self Storage Self Storage Fee N/A N/A 809 South KCID Road Caldwell
Loan   14 GoodFriend Self Storage - East Hampton 1 Self Storage Self Storage Fee N/A N/A 17 GoodFriend Drive East Hampton
Loan   15 Lowe’s - Fairlawn, OH 1 Retail Single Tenant Fee N/A N/A 186 North Cleveland Massillon Road Akron
Loan   16 Agoura Meadows Shopping Center 1 Retail Anchored Fee N/A N/A 5601, 5639, 5667, 5675 and 5691 Kanan Road Agoura Hills
Loan   17 StorQuest Self Storage - La Quinta 1 Self Storage Self Storage Fee N/A N/A 47350 Dune Palms Road La Quinta
Loan   18 Central Self Storage - Broadway 1 Self Storage Self Storage Fee N/A N/A 2033 Broadway Street Vallejo
Loan   19 River Oaks Shopping Center 1 Retail Anchored Fee N/A N/A 2209-2235 West Dekalb Street Camden
Loan   20 The Playa Merced Shopping Center 1 Retail Anchored Fee N/A N/A 1930 and 1950 Yosemite Parkway Merced
Loan   21 Four Corners Self Storage 1 Self Storage Self Storage Fee N/A N/A 24215 SE 271st Place Maple Valley
Loan   22 Gillmor - Reno 1 Office Suburban Fee N/A N/A 5441 Kietzke Lane Reno
Loan   23 Central Self Storage - Antioch 1 Self Storage Self Storage Fee N/A N/A 2199 Mokelumne Drive Antioch
Loan   24 First Choice Self Storage - Grapevine 1 Self Storage Self Storage Fee N/A N/A 2713 Ira E Woods Avenue Grapevine
Loan 6, 7 25 Aspen Self Storage Portfolio 3              
Property   25.01 1900-1912 West New Orleans Street   Mixed Use Self Storage/Retail Fee N/A N/A 1900-1912 West New Orleans Street Broken Arrow
Property   25.02 12919-12989 East 31st Street   Mixed Use Self Storage/Retail Fee N/A N/A 12919-12989 East 31st Street Tulsa
Property   25.03 1301 South York Street   Self Storage Self Storage Fee N/A N/A 1301 South York Street Muskogee
Loan   26 Preserve at Quail Pass Phase III 1 Multifamily Garden Fee N/A N/A 60-66 Snowberry Drive, 61-67 Snowberry Drive, 68-78 Snowberry Drive, 71-81 Snowberry Drive, 82-90 Snowberry Drive, 83-93 Snowberry Drive, 96-102 Snowberry Drive, 98-106 Bur Reed Road, 99-107 Bur Reed Road, 108-118 Bur Reed Road, 109-115 Bur Reed Road, 117-127 Bur Reed Road Delaware
Loan   27 Central Self Storage - Concord 1 Self Storage Self Storage Fee N/A N/A 5733 Pacheco Boulevard Pacheco
Loan 6 28 Stor-All Portfolio KS 3              
Property   28.01 Stor-All Pawnee   Self Storage Self Storage Fee N/A N/A 4545 East Pawnee Street Wichita
Property   28.02 Stor-All Amidon   Self Storage Self Storage Fee N/A N/A 2359 North Amidon Street Wichita
Property   28.03 Stor-All Hydraulic   Self Storage Self Storage Fee N/A N/A 122 South Hydraulic Street Wichita
Loan   29 Cabela’s Outpost Saginaw 1 Retail Single tenant Fee N/A N/A 5202 Bay Road Saginaw
Loan   30 Airpark Drive 1 Office Suburban Fee N/A N/A 2815 Airpark Drive Santa Maria
Loan   31 Frisco Lakes III Shopping Center 1 Retail Shadow Anchored Fee N/A N/A 252 West Stonebrook Parkway Frisco
Loan   32 EL Monte Plaza 1 Retail Anchored Fee N/A N/A 4802 Peck Road EL Monte
Loan   33 Aldi - Bellflower 1 Retail Single Tenant Fee N/A N/A 16121 and 16123 Bellflower Boulevard Bellflower
Loan   34 Skyway Self Storage 1 Self Storage Self Storage Fee N/A N/A 11840 Renton Avenue South Seattle
Loan   35 Statham Oaks Self Storage 1 Self Storage Self Storage Fee N/A N/A 370 Sunset Drive Statham
Loan   36 Central Self Storage - Dunlap 1 Self Storage Self Storage Fee N/A N/A 9025 & 9029 North 43rd Avenue & 4210 West Dunlap Road Phoenix
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name County State Zip Code Year Built Year Renovated Size Units of
Measure
Occupancy Rate(2) Occupancy Rate
As-of Date
Appraised
Value
Appraised Value
As-of Date
  Mortgage
Rate
Administrative
Fee Rate(3)
Master Servicing
Fee Rate
Primary Servicing
Fee Rate
Pari Passu
Loan Primary Servicing
Fee Rate
Trustee
Fee Rate
Trust Advisor
Fee Rate
Asset Representations Reviewer Fee Rate CREFC
Fee Rate
Interest
Accrual  
Basis
Seasoning
(mos.)
ARD
(Yes/No)
Original Term
to Maturity (mos.)
Remaining Term
to Maturity (mos.)
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino Clark NV 89109 1997 2019 3,933 Rooms 94.8% 9/30/2019 $4,260,000,000 10/16/2019   3.1702% 0.01911% 0.00250% 0.00000% 0.00125% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 6 No 120 114
Loan 5 2 55 Hudson Yards New York NY 10001 2018 N/A 1,431,212 SF 97.3% 11/19/2019 $2,400,000,000 10/15/2019   2.9500% 0.01911% 0.00250% 0.00000% 0.00125% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 6 No 120 114
Loan 5, 8 3 525 Market San Francisco CA 94105 1973 2018 1,034,170 SF 97.3% 12/4/2019 $1,271,000,000 11/12/2019   2.9495% 0.01911% 0.00250% 0.00000% 0.00125% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Loan 5 4 200 West 57th Street New York NY 10019 1917 2007-2008 171,395 SF 95.1% 11/27/2019 $185,000,000 12/4/2019   3.5200% 0.02036% 0.00250% 0.00000% 0.00250% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 5 No 120 115
Loan 5 5 Ralph Lauren HQ New Jersey Essex NJ 07110 1996 2019 255,018 SF 100.0% 6/1/2020 $96,000,000 11/1/2019   3.1300% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan 5, 8, 9, 12 6 711 Fifth Avenue New York NY 10022 1927 2013-2019 340,024 SF 76.5% 1/31/2020 $1,000,000,000 1/23/2020   3.1600% 0.02036% 0.00250% 0.00000% 0.00250% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan 5, 8 7 1633 Broadway New York NY 10019 1972 2013 2,561,512 SF 98.4% 10/31/2019 $2,400,000,000 10/24/2019   2.9900% 0.01911% 0.00250% 0.00000% 0.00125% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 6 No 120 114
Loan 5, 8 8 560 Mission Street San Francisco CA 94105 2002 N/A 668,149 SF 98.4% 10/31/2019 $842,000,000 10/31/2019   2.5890% 0.01911% 0.00250% 0.00000% 0.00125% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 6 No 120 114
Loan   9 3300 West Sahara Clark NV 89102 1986 1994 225,811 SF 81.2% 12/31/2019 $34,300,000 1/22/2020   3.6000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   10 Laidley Tower Kanawha WV 25301 1984 2019 212,768 SF 89.6% 6/1/2020 $26,400,000 10/23/2019   3.4860% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 6 No 120 114
Loan 6 11 Rosewood Self Storage Portfolio           238,602 SF 90.9%   $26,050,000     3.1000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Property   11.01 Northwest Highway Overview Dallas TX 75220 1972 1997 89,600 SF 91.0% 5/25/2020 $8,800,000 1/20/2020                              
Property   11.02 Forest Lane Overview Dallas TX 75234 1997 N/A 57,852 SF 93.6% 5/25/2020 $8,400,000 1/20/2020                              
Property   11.03 Walnut Hill Dallas TX 75238 1995 N/A 44,860 SF 87.1% 5/25/2020 $5,400,000 1/20/2020                              
Property   11.04 Cooper Overview Tarrant TX 76015 1997 N/A 46,290 SF 90.9% 5/25/2020 $3,000,000 1/20/2020                              
Loan   12 StorQuest Self Storage - Indio Riverside CA 92201 2007 N/A 142,338 SF 0.915 1/26/2020 $20,400,000 12/21/2019   3.2500% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan 6, 9 13 Central Self Storage Portfolio Idaho           524,261 SF 90.2%   $35,900,000     3.4200% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Property   13.01 Central Self Storage Idaho - Meridian Ada ID 83642 2006 2014 134,740 SF 87.8% 4/24/2020 $10,350,000 12/13/2019                              
Property   13.02 Central Self Storage Idaho - Star Ada ID 83669 2005 N/A 150,520 SF 90.5% 4/24/2020 $8,530,000 12/11/2019                              
Property   13.03 Central Self Storage Idaho - Boise Ada ID 83709 2002 N/A 91,126 SF 89.5% 4/24/2020 $8,140,000 12/13/2019                              
Property   13.04 Central Self Storage Idaho - Caldwell Canyon ID 83605 2007 2017 147,875 SF 92.6% 4/24/2020 $6,100,000 12/11/2019                              
Loan   14 GoodFriend Self Storage - East Hampton Suffolk NY 11937 2000; 2003 N/A 38,300 SF 93.7% 4/30/2020 $19,750,000 2/15/2020   3.5000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   15 Lowe’s - Fairlawn, OH Summit OH 44333 1998 N/A 129,044 SF 100.0% 6/1/2020 $18,500,000 12/23/2019   3.9800% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Loan   16 Agoura Meadows Shopping Center Los Angeles CA 91301 1978-1980 N/A 99,159 SF 94.6% 1/31/2020 $37,500,000 11/25/2019   3.1600% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   17 StorQuest Self Storage - La Quinta Riverside CA 92253 2000 N/A 75,633 SF 89.8% 1/26/2020 $14,400,000 12/21/2019   3.2500% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   18 Central Self Storage - Broadway Solano CA 94589 2000 N/A 74,075 SF 85.5% 4/24/2020 $17,630,000 12/17/2019   3.1700% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   19 River Oaks Shopping Center Kershaw SC 29020 1992 2019 136,591 SF 98.9% 1/21/2020 $11,500,000 12/30/2019   4.0200% 0.07786% 0.00250% 0.06000% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   20 The Playa Merced Shopping Center Merced CA 95341 2007 N/A 68,207 SF 100.0% 5/12/2020 $12,300,000 1/2/2020   3.6000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   21 Four Corners Self Storage King WA 98038 2002 N/A 52,650 SF 90.2% 4/30/2020 $12,750,000 2/5/2020   3.6600% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   22 Gillmor - Reno Washoe NV 89511 2004 N/A 63,030 SF 100.0% 5/14/2020 $19,000,000 1/13/2020   3.1000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   23 Central Self Storage - Antioch Contra Costa CA 94531 2005 N/A 74,250 SF 80.9% 4/24/2020 $15,440,000 12/17/2019   3.2000% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   24 First Choice Self Storage - Grapevine Tarrant TX 76051 2007 N/A 99,770 SF 85.5% 4/30/2020 $12,670,000 12/16/2019   3.5560% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Loan 6, 7 25 Aspen Self Storage Portfolio           259,254 SF 94.3%   $11,850,000     3.8100% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Property   25.01 1900-1912 West New Orleans Street Tulsa OK 74011 1995;1996;2013 N/A 112,775 SF 91.6% 4/30/2020 $6,050,000 8/27/2019                              
Property   25.02 12919-12989 East 31st Street Tulsa OK 74134 1992;1997 N/A 84,179 SF 96.7% 4/30/2020 $3,800,000 8/27/2019                              
Property   25.03 1301 South York Street Muskogee OK 74403 2008; 2013; 2014-2017 N/A 62,300 SF 96.0% 4/30/2020 $2,000,000 8/27/2019                              
Loan   26 Preserve at Quail Pass Phase III Delaware OH 43015 2018 N/A 61 Units 96.7% 5/1/2020 $11,000,000 10/18/2019   3.8500% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   27 Central Self Storage - Concord Contra Costa CA 94553 1999 N/A 91,820 SF 81.5% 4/24/2020 $18,730,000 12/17/2019   3.2000% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan 6 28 Stor-All Portfolio KS           122,120 SF 90.1%   $8,580,000     3.6900% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Property   28.01 Stor-All Pawnee Sedgwick KS 67218 2002 2016 66,740 SF 87.3% 4/24/2020 $4,230,000 1/6/2020                              
Property   28.02 Stor-All Amidon Sedgwick KS 67204 1988 1998 43,930 SF 93.7% 4/24/2020 $3,600,000 1/6/2020                              
Property   28.03 Stor-All Hydraulic Sedgwick KS 67211 1999 N/A 11,450 SF 92.6% 4/24/2020 $750,000 1/6/2020                              
Loan   29 Cabela’s Outpost Saginaw Saginaw MI 48604 1985 2018 48,849 SF 100.0% 6/1/2020 $12,000,000 2/20/2020   3.7800% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   30 Airpark Drive Santa Barbara CA 93455 1985 2019 36,300 SF 100.0% 6/1/2020 $10,600,000 12/30/2019   3.7000% 0.06036% 0.00250% 0.04250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Loan   31 Frisco Lakes III Shopping Center Denton TX 75036 2016 N/A 22,724 SF 100.0% 4/30/2020 $9,900,000 1/10/2020   3.8000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 4 No 120 116
Loan   32 EL Monte Plaza Los Angeles CA 91732 1963 2012 44,779 SF 96.6% 4/1/2020 $12,500,000 12/5/2019   3.3400% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   33 Aldi - Bellflower Los Angeles CA 90706 1977 2019 35,000 SF 100.0% 6/1/2020 $9,600,000 1/10/2020   3.8000% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   34 Skyway Self Storage King WA 98178 1958 N/A 27,653 SF 87.9% 4/30/2020 $6,300,000 1/31/2020   3.3500% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 2 No 120 118
Loan   35 Statham Oaks Self Storage Barrow GA 30666 2005 2017 41,425 SF 81.3% 2/27/2020 $4,000,000 2/4/2020   3.9700% 0.02036% 0.00250% 0.00250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
Loan   36 Central Self Storage - Dunlap Maricopa AZ 85051 1983 N/A 98,659 SF 81.9% 4/24/2020 $11,050,000 12/16/2019   3.5400% 0.05036% 0.00250% 0.03250% 0.00000% 0.01246% 0.00200% 0.00040% 0.00050% Actual/360 3 No 120 117
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name Original
Interest-Only
Period (mos.)
Remaining
Interest-Only
Period (mos.)
Original
Amortization
Term (mos.)
Remaining
Amortization
Term (mos.)
Note Date First
Payment
Date
First P&I Payment
Date (Partial
IO Loans)
Maturity
 Date
ARD Loan
Final Maturity
Date
Monthly
Debt Service
(P&I)
Monthly
Debt Service
(IO)
Annual Debt
Service
(P&I)
Annual Debt
Service
(IO)
Lockbox Type Cash Management Status Crossed With
Other Loans
Related-Borrower Loans UW NOI
DSCR (P&I)
UW NOI
DSCR (IO)
UW NCF
DSCR (P&I)
UW NCF
DSCR (IO)
Cut-Off Date
LTV Ratio
Maturity Date LTV Ratio Grace Period to
Late Charge
(Days)
Grace Period to Default
(Days)
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino 120 114 0 0 11/15/2019 1/5/2020 N/A 12/5/2029 N/A $0.00 $163,387.63 $0.00 $1,960,651.56 Hard Springing No N/A N/A 8.80x N/A 8.42x 39.3% 39.3% 0 0
Loan 5 2 55 Hudson Yards 120 114 0 0 11/21/2019 1/6/2020 N/A 12/6/2029 N/A $0.00 $134,593.75 $0.00 $1,615,125.00 Hard Springing No N/A N/A 3.68x N/A 3.54x 39.4% 39.4% 0 0
Loan 5, 8 3 525 Market 120 116 0 0 1/29/2020 3/6/2020 N/A 2/6/2030 N/A $0.00 $124,602.72 $0.00 $1,495,232.64 Hard Springing No N/A N/A 4.38x N/A 4.29x 37.0% 37.0% 10 days once per calendar year 0
Loan 5 4 200 West 57th Street 120 115 0 0 12/30/2019 2/1/2020 N/A 1/1/2030 N/A $0.00 $133,833.33 $0.00 $1,605,999.96 Hard Springing No N/A N/A 2.11x N/A 1.93x 62.2% 62.2% 5 5
Loan 5 5 Ralph Lauren HQ New Jersey 120 117 0 0 2/7/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $116,360.65 $0.00 $1,396,327.80 Hard In Place No N/A N/A 3.03x N/A 3.00x 59.4% 59.4% 0 5
Loan 5, 8, 9, 12 6 711 Fifth Avenue 120 117 0 0 3/6/2020 4/6/2020 N/A 3/6/2030 N/A $0.00 $114,806.02 $0.00 $1,377,672.24 Hard Springing No N/A N/A 2.94x N/A 2.90x 54.5% 54.5% 0 0
Loan 5, 8 7 1633 Broadway 120 114 0 0 11/25/2019 1/6/2020 N/A 12/6/2029 N/A $0.00 $101,050.93 $0.00 $1,212,611.16 Hard Springing No N/A N/A 3.93x N/A 3.84x 41.7% 41.7% 0 0
Loan 5, 8 8 560 Mission Street 120 114 0 0 12/5/2019 1/6/2020 N/A 12/6/2029 N/A $0.00 $65,623.96 $0.00 $787,487.52 Hard Springing No N/A N/A 5.42x N/A 5.23x 35.6% 35.6% 5 0
Loan   9 3300 West Sahara 120 118 0 0 3/13/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $70,490.63 $0.00 $845,887.56 Hard Springing No N/A N/A 3.20x N/A 2.86x 67.6% 67.6% 3 3
Loan   10 Laidley Tower 120 114 0 0 11/22/2019 1/11/2020 N/A 12/11/2029 N/A $0.00 $50,070.90 $0.00 $600,850.80 Springing Springing No N/A N/A 4.08x N/A 3.55x 64.4% 64.4% 5 0
Loan 6 11 Rosewood Self Storage Portfolio 120 117 0 0 2/26/2020 4/11/2020 N/A 3/11/2030 N/A $0.00 $44,366.85 $0.00 $532,402.20 Springing Springing No N/A N/A 3.28x N/A 3.22x 65.0% 65.0% 5 0
Property   11.01 Northwest Highway Overview                                                  
Property   11.02 Forest Lane Overview                                                  
Property   11.03 Walnut Hill                                                  
Property   11.04 Cooper Overview                                                  
Loan   12 StorQuest Self Storage - Indio 120 117 0 0 2/28/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $36,040.58 $0.00 $432,486.96 Springing Springing No Group 2 N/A 2.69x N/A 2.64x 64.3% 64.3% 5 4
Loan 6, 9 13 Central Self Storage Portfolio Idaho 120 118 0 0 3/12/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $37,564.58 $0.00 $450,774.96 Springing Springing No Group 1 N/A 5.04x N/A 4.93x 36.2% 36.2% 5 4
Property   13.01 Central Self Storage Idaho - Meridian                                                  
Property   13.02 Central Self Storage Idaho - Star                                                  
Property   13.03 Central Self Storage Idaho - Boise                                                  
Property   13.04 Central Self Storage Idaho - Caldwell                                                  
Loan   14 GoodFriend Self Storage - East Hampton 120 118 0 0 3/13/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $37,408.28 $0.00 $448,899.36 Springing Springing No N/A N/A 2.35x N/A 2.34x 64.1% 64.1% 5 5
Loan   15 Lowe’s - Fairlawn, OH 120 116 0 0 1/31/2020 3/1/2020 N/A 2/1/2030 N/A $0.00 $41,992.11 $0.00 $503,905.32 Springing Springing No N/A N/A 2.22x N/A 2.08x 67.5% 67.5% 5 5
Loan   16 Agoura Meadows Shopping Center 120 117 0 0 2/14/2020 4/11/2020 N/A 3/11/2030 N/A $0.00 $29,368.98 $0.00 $352,427.76 None None No N/A N/A 5.66x N/A 5.43x 29.3% 29.3% 0 0
Loan   17 StorQuest Self Storage - La Quinta 120 117 0 0 2/27/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $25,056.79 $0.00 $300,681.48 Springing Springing No Group 2 N/A 2.69x N/A 2.65x 63.4% 63.4% 5 4
Loan   18 Central Self Storage - Broadway 120 118 0 0 3/2/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $22,766.03 $0.00 $273,192.36 Springing Springing No Group 1 N/A 3.67x N/A 3.63x 48.2% 48.2% 5 4
Loan   19 River Oaks Shopping Center 24 21 360 360 2/11/2020 4/1/2020 4/1/2022 3/1/2030 N/A $40,285.94 $28,591.97 $483,431.28 $343,103.64 Springing Springing No N/A 1.93x 2.72x 1.80x 2.54x 73.2% 61.9% 0 5
Loan   20 The Playa Merced Shopping Center 60 57 360 360 2/14/2020 4/11/2020 4/11/2025 3/11/2030 N/A $38,026.54 $25,440.50 $456,318.48 $305,286.00 Springing Springing No N/A 2.02x 3.02x 1.95x 2.91x 68.0% 61.4% 0 0
Loan   21 Four Corners Self Storage 120 118 0 0 3/5/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $25,357.36 $0.00 $304,288.32 Springing Springing No Group 3 N/A 2.27x N/A 2.24x 64.3% 64.3% 5 4
Loan   22 Gillmor - Reno 120 117 0 0 3/5/2020 4/11/2020 N/A 3/11/2030 N/A $0.00 $20,953.70 $0.00 $251,444.40 Springing Springing No N/A N/A 4.95x N/A 4.65x 42.1% 42.1% 0 0
Loan   23 Central Self Storage - Antioch 120 118 0 0 3/3/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $21,629.63 $0.00 $259,555.56 None None No Group 1 N/A 3.85x N/A 3.81x 51.8% 51.8% 5 4
Loan   24 First Choice Self Storage - Grapevine 12 8 360 360 1/29/2020 3/1/2020 3/1/2021 2/1/2030 N/A $36,174.12 $24,035.93 $434,089.44 $288,431.16 Springing Springing No N/A 1.84x 2.78x 1.81x 2.72x 63.1% 51.1% 5 4
Loan 6, 7 25 Aspen Self Storage Portfolio 120 117 0 0 2/27/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $25,749.56 $0.00 $308,994.72 Springing Springing No N/A N/A 3.06x N/A 2.93x 67.5% 67.5% 0 5
Property   25.01 1900-1912 West New Orleans Street                                                  
Property   25.02 12919-12989 East 31st Street                                                  
Property   25.03 1301 South York Street                                                  
Loan   26 Preserve at Quail Pass Phase III 120 118 0 0 3/11/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $24,721.99 $0.00 $296,663.88 Springing Springing No N/A N/A 2.24x N/A 2.19x 69.1% 69.1% 0 5
Loan   27 Central Self Storage - Concord 120 117 0 0 2/26/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $20,277.78 $0.00 $243,333.36 None None No Group 1 N/A 5.46x N/A 5.40x 40.0% 40.0% 5 4
Loan 6 28 Stor-All Portfolio KS 24 20 360 360 1/27/2020 3/1/2020 3/1/2022 2/1/2030 N/A $28,186.43 $19,115.45 $338,237.16 $229,385.40 Springing Springing No N/A 1.60x 2.36x 1.56x 2.30x 71.5% 59.8% 5 4
Property   28.01 Stor-All Pawnee                                                  
Property   28.02 Stor-All Amidon                                                  
Property   28.03 Stor-All Hydraulic                                                  
Loan   29 Cabela’s Outpost Saginaw 0 0 360 358 3/11/2020 5/1/2020 N/A 4/1/2030 N/A $27,889.17 $0.00 $334,670.04 $0.00 Springing Springing No N/A 1.99x N/A 1.87x N/A 49.9% 39.5% 5 5
Loan   30 Airpark Drive 120 116 0 0 1/30/2020 3/11/2020 N/A 2/11/2030 N/A $0.00 $18,131.71 $0.00 $217,580.52 Soft Springing No N/A N/A 2.91x N/A 2.76x 54.7% 54.7% 0 0
Loan   31 Frisco Lakes III Shopping Center 60 56 360 360 2/5/2020 3/11/2020 3/11/2025 2/11/2030 N/A $26,326.59 $18,140.16 $315,919.08 $217,681.92 Springing Springing No N/A 1.88x 2.73x 1.87x 2.71x 57.1% 51.7% 0 0
Loan   32 EL Monte Plaza 120 117 0 0 2/14/2020 4/11/2020 N/A 3/11/2030 N/A $0.00 $14,603.80 $0.00 $175,245.60 Springing Springing No N/A N/A 4.16x N/A 4.00x 41.4% 41.4% 0 0
Loan   33 Aldi - Bellflower 0 0 360 358 3/2/2020 5/1/2020 N/A 4/1/2030 N/A $22,132.97 $0.00 $265,595.64 $0.00 Springing Springing No N/A 1.83x N/A 1.70x N/A 49.3% 39.1% 5 5
Loan   34 Skyway Self Storage 120 118 0 0 3/5/2020 5/1/2020 N/A 4/1/2030 N/A $0.00 $11,604.80 $0.00 $139,257.60 Springing Springing No Group 3 N/A 2.78x N/A 2.74x 65.1% 65.1% 5 4
Loan   35 Statham Oaks Self Storage 120 117 0 0 3/4/2020 4/11/2020 N/A 3/11/2030 N/A $0.00 $8,721.13 $0.00 $104,653.56 Springing Springing No N/A N/A 2.64x N/A 2.60x 65.0% 65.0% 0 0
Loan   36 Central Self Storage - Dunlap 120 117 0 0 2/26/2020 4/1/2020 N/A 3/1/2030 N/A $0.00 $4,785.56 $0.00 $57,426.72 None None No Group 1 N/A 11.75x N/A 11.47x 14.5% 14.5% 5 4
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name Due Date Prepayment Provisions
(No. of Payments)
YM
Formula
  Third Most
Recent Revenues
Third Most
Recent Expenses
Third Most
Recent NOI
Third
Most Recent
NOI Date
Third Most
Recent NOI
Debt Yield
Second Most
 Recent Revenues
Second Most
 Recent Expenses
Second Most
 Recent NOI
Second
Most Recent
NOI Date
Second Most
Recent NOI
Debt Yield
Most
 Recent Revenues
Most
 Recent Expenses
Most
Recent NOI
Most
Recent
NOI Date
Most
Recent NOI
Debt Yield
Underwritten
Occupancy Rate
Underwritten
Effective Gross Income
Underwritten Total
Expenses
Underwritten NOI Underwritten NOI Debt Yield Underwritten
Replacement
Reserves
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino Fifth YM0.5(30);DEF/YM0.5(83);O(7) A   $1,365,570,769 $859,834,535 $505,736,234 12/31/2017 30.2% $1,367,835,267 $877,969,225 $489,866,042 12/31/2018 29.2% $1,349,062,464 $874,997,149 $474,065,315 9/30/2019 TTM 28.3% 94.8% $1,349,062,464 $874,997,149 $474,065,315 28.3% $20,235,937
Loan 5 2 55 Hudson Yards Sixth LO(30);DEF/YM1(83);O(7) B   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 N/A N/A 96.4% $149,111,008 $45,210,677 $103,900,331 11.0% $286,242
Loan 5, 8 3 525 Market Sixth LO(24);YM1(4);DEF/YM1(85);O(7) C   $40,286,941 $13,897,618 $26,389,323 12/31/2017 5.6% $57,838,260 $14,626,201 $43,212,060 12/31/2018 9.2% $57,053,048 $15,205,637 $41,847,411 11/30/2019 TTM 8.9% 95.0% $79,720,547 $18,212,365 $61,508,183 13.1% $186,151
Loan 5 4 200 West 57th Street First LO(29);DEF(86);O(5)     $13,289,530 $5,430,733 $7,858,797 12/31/2017 6.8% $13,575,282 $5,759,005 $7,816,277 12/31/2018 6.8% $13,330,921 $5,850,837 $7,480,084 9/30/2019 TTM 6.5% 92.4% $15,147,994 $6,494,957 $8,653,037 7.5% $46,388
Loan 5 5 Ralph Lauren HQ New Jersey First LO(27);DEF(89);O(4)     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 N/A N/A 97.0% $9,003,225 $3,527,720 $5,475,505 9.6% $51,016
Loan 5, 8, 9, 12 6 711 Fifth Avenue Sixth LO(27);DEF(86);O(7)     $62,723,555 $17,358,037 $45,365,518 12/31/2017 8.3% $63,038,695 $18,950,129 $44,088,566 12/31/2018 8.1% $69,563,590 $20,967,241 $48,596,349 12/31/2019 8.9% 90.6% $74,193,553 $22,888,769 $51,304,783 9.4% $85,006
Loan 5, 8 7 1633 Broadway Sixth LO(30);DEF(83);O(7)     $159,464,803 $65,274,796 $94,190,007 12/31/2017 9.4% $179,219,236 $70,120,786 $109,098,450 12/31/2018 10.9% $182,760,348 $71,951,033 $110,809,315 9/30/2019 TTM 11.1% 95.4% $190,585,947 $71,435,784 $119,150,163 11.9% $461,072
Loan 5, 8 8 560 Mission Street Sixth LO(30);DEF/YM1(83);O(7) D   $42,356,897 $11,585,462 $30,771,436 12/31/2017 10.3% $49,571,805 $11,702,280 $37,869,525 12/31/2018 12.6% $50,792,721 $12,479,248 $38,313,473 9/30/2019 TTM 12.8% 96.0% $54,738,187 $12,064,089 $42,674,098 14.2% $133,630
Loan   9 3300 West Sahara First LO(26);DEF(89);O(5)     $2,797,233 $1,171,998 $1,625,235 12/31/2018 7.0% $3,020,459 $1,267,054 $1,753,405 12/31/2019 7.6% $3,035,220 $1,282,481 $1,752,739 1/31/2020 TTM 7.6% 80.8% $4,098,954 $1,394,710 $2,704,244 11.7% $56,453
Loan   10 Laidley Tower Eleventh LO(30);DEF(83);O(7)     $3,181,116 $2,109,137 $1,071,979 12/31/2017 6.3% $3,257,175 $1,706,538 $1,550,637 Annualized 5 12/31/2018 9.1% $3,376,171 $1,762,735 $1,613,436 11/30/2019 TTM 9.5% 89.7% $4,215,634 $1,765,910 $2,449,724 14.4% $36,220
Loan 6 11 Rosewood Self Storage Portfolio Eleventh LO(27);DEF(89);O(4)     $2,822,964 $1,066,037 $1,756,928 12/31/2017 10.4% $2,841,366 $1,114,044 $1,727,322 12/31/2018 10.2% $2,764,513 $1,129,541 $1,634,973 1/31/2020 TTM 9.7% 89.7% $2,966,070 $1,221,238 $1,744,832 10.3% $32,021
Property   11.01 Northwest Highway Overview         $920,133 $343,104 $577,029 12/31/2017   $927,180 $347,543 $579,637 12/31/2018   $941,940 $359,673 $582,267 1/31/2020 TTM   91.4% $1,036,653 $416,111 $620,542   $10,380
Property   11.02 Forest Lane Overview         $881,412 $279,533 $601,880 12/31/2017   $882,993 $309,973 $573,020 12/31/2018   $832,059 $294,866 $537,193 1/31/2020 TTM   92.2% $892,134 $323,601 $568,533   $12,566
Property   11.03 Walnut Hill         $564,145 $221,106 $343,039 12/31/2017   $580,583 $236,122 $344,461 12/31/2018   $573,284 $239,497 $333,787 1/31/2020 TTM   87.4% $596,849 $250,290 $346,559   $4,466
Property   11.04 Cooper Overview         $457,274 $222,294 $234,980 12/31/2017   $450,610 $220,406 $230,204 12/31/2018   $417,230 $235,505 $181,726 1/31/2020 TTM   84.0% $440,434 $231,236 $209,198   $4,609
Loan   12 StorQuest Self Storage - Indio First LO(27);DEF(86);O(7)     $1,436,683 $487,301 $949,382 12/31/2017 7.2% $1,544,645 $450,571 $1,094,074 12/31/2018 8.3% $1,596,864 $474,805 $1,122,059 12/31/2019 8.5% 85.3% $1,614,440 $450,188 $1,164,252 8.9% $21,351
Loan 6, 9 13 Central Self Storage Portfolio Idaho First LO(26);DEF(90);O(4)     $2,845,481 $1,044,866 $1,800,615 12/31/2017 13.9% $3,190,955 $1,198,775 $1,992,180 12/31/2018 15.3% $3,400,502 $1,240,198 $2,160,304 12/31/2019 16.6% 91.6% $3,400,502 $1,127,372 $2,273,130 17.5% $51,026
Property   13.01 Central Self Storage Idaho - Meridian         $933,738 $297,333 $636,405 12/31/2017   $950,011 $302,659 $647,352 12/31/2018   $997,789 $330,796 $666,993 12/31/2019   88.3% $997,789 $297,762 $700,028   $13,395
Property   13.02 Central Self Storage Idaho - Star         $660,381 $237,007 $423,374 12/31/2017   $806,233 $281,277 $524,956 12/31/2018   $871,108 $308,084 $563,024 12/31/2019   89.3% $871,108 $277,375 $593,734   $15,585
Property   13.03 Central Self Storage Idaho - Boise         $726,006 $263,270 $462,736 12/31/2017   $765,788 $284,256 $481,532 12/31/2018   $811,040 $292,757 $518,283 12/31/2019   91.2% $811,040 $256,996 $554,045   $10,996
Property   13.04 Central Self Storage Idaho - Caldwell         $525,356 $247,256 $278,100 12/31/2017   $668,923 $330,583 $338,340 12/31/2018   $720,565 $308,561 $412,004 12/31/2019   93.6% $720,565 $295,241 $425,325   $11,051
Loan   14 GoodFriend Self Storage - East Hampton First LO(26);YM1(89);O(5) E   $1,281,648 $351,459 $930,189 12/31/2017 7.4% $1,366,802 $371,782 $995,020 12/31/2018 7.9% $1,410,860 $381,388 $1,029,472 1/31/2020 TTM 8.1% 91.0% $1,408,462 $354,377 $1,054,085 8.3% $5,745
Loan   15 Lowe’s - Fairlawn, OH First LO(28);DEF(85);O(7)     $1,135,587 $0 $1,135,587 12/31/2017 9.1% $1,135,587 $0 $1,135,587 12/31/2018 9.1% $1,181,011 $0 $1,181,011 12/31/2019 9.5% 95.0% $1,154,874 $34,646 $1,120,228 9.0% $12,904
Loan   16 Agoura Meadows Shopping Center Eleventh LO(11);YM1(105);O(4) F   $2,530,918 $621,199 $1,909,719 12/31/2017 17.4% $2,558,845 $643,090 $1,915,755 12/31/2018 17.4% $2,509,467 $678,866 $1,830,601 12/31/2019 16.6% 92.5% $2,704,763 $710,395 $1,994,368 18.1% $29,748
Loan   17 StorQuest Self Storage - La Quinta First LO(27);DEF(86);O(7)     $1,052,913 $371,079 $681,834 12/31/2017 7.5% $1,126,554 $351,756 $774,798 12/31/2018 8.5% $1,166,145 $372,371 $793,774 12/31/2019 8.7% 88.0% $1,166,619 $359,149 $807,470 8.8% $11,345
Loan   18 Central Self Storage - Broadway First LO(26);DEF(89);O(5)     $1,258,046 $356,104 $901,942 12/31/2017 10.6% $1,352,314 $370,724 $981,590 12/31/2018 11.5% $1,380,028 $388,736 $991,292 12/31/2019 11.7% 90.7% $1,380,028 $376,771 $1,003,257 11.8% $10,927
Loan   19 River Oaks Shopping Center First LO(27);DEF(88);O(5)     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 N/A N/A 95.0% $1,396,918 $464,593 $932,325 11.1% $21,195
Loan   20 The Playa Merced Shopping Center Eleventh LO(27);DEF(89);O(4)     $1,624,590 $290,826 $1,333,764 12/31/2017 15.9% $1,730,391 $294,122 $1,436,269 12/31/2018 17.2% $1,533,583 $311,365 $1,222,218 12/31/2019 14.6% 95.0% $1,274,440 $352,790 $921,650 11.0% $11,595
Loan   21 Four Corners Self Storage First LO(26);DEF(90);O(4)     $988,052 $322,486 $665,566 12/31/2017 8.1% $1,026,384 $357,831 $668,553 12/31/2018 8.2% $1,036,066 $362,064 $674,002 1/31/2020 TTM 8.2% 91.0% $1,036,066 $346,424 $689,642 8.4% $7,898
Loan   22 Gillmor - Reno Eleventh LO(27);DEF(89);O(4)     $1,582,859 $460,262 $1,122,597 12/31/2017 14.0% $1,689,962 $481,710 $1,208,252 12/31/2018 15.1% $1,718,090 $527,646 $1,190,444 12/31/2019 14.9% 95.0% $1,752,842 $509,348 $1,243,494 15.5% $11,345
Loan   23 Central Self Storage - Antioch First LO(26);DEF(89);O(5)     $1,344,135 $411,609 $932,526 12/31/2017 11.7% $1,369,210 $417,064 $952,146 12/31/2018 11.9% $1,369,595 $416,132 $953,463 12/31/2019 11.9% 84.7% $1,369,595 $370,665 $998,930 12.5% $11,138
Loan   24 First Choice Self Storage - Grapevine First LO(28);DEF(88);O(4)     $1,155,099 $576,090 $579,009 12/31/2017 7.2% $1,175,572 $451,637 $723,935 12/31/2018 9.0% $1,200,645 $391,849 $808,796 12/31/2019 10.1% 88.1% $1,221,960 $421,138 $800,822 10.0% $14,965
Loan 6, 7 25 Aspen Self Storage Portfolio First LO(27);DEF(89);O(4)     $1,306,365 $434,756 $871,609 12/31/2018 10.9% $1,347,752 $401,590 $946,162 12/31/2019 11.8% $1,360,711 $357,122 $1,003,588 3/31/2020 TTM 12.5% 90.3% $1,378,023 $432,112 $945,911 11.8% $41,431
Property   25.01 1900-1912 West New Orleans Street         $641,293 $172,350 $468,942 12/31/2018   $661,737 $181,036 $480,701 12/31/2019   $657,778 $171,755 $486,023 3/31/2020 TTM   91.0% $664,356 $194,004 $470,351   $14,899
Property   25.02 12919-12989 East 31st Street         $461,119 $193,841 $267,279 12/31/2018   $464,939 $175,321 $289,618 12/31/2019   $473,133 $136,159 $336,974 3/31/2020 TTM   89.0% $481,397 $172,374 $309,024   $19,288
Property   25.03 1301 South York Street         $203,953 $68,565 $135,388 12/31/2018   $221,077 $45,234 $175,843 12/31/2019   $229,799 $49,208 $180,591 3/31/2020 TTM   90.0% $232,270 $65,734 $166,536   $7,245
Loan   26 Preserve at Quail Pass Phase III First LO(26);DEF(89);O(5)     N/A N/A N/A N/A N/A $909,385 $440,869 $468,517 12/31/2019 6.2% $1,068,571 $468,250 $600,320 4/30/2020 TTM 7.9% 95.0% $1,134,752 $470,279 $664,474 8.7% $15,250
Loan   27 Central Self Storage - Concord First LO(27);DEF(88);O(5)     $1,705,811 $434,800 $1,271,011 12/31/2017 16.9% $1,706,591 $417,214 $1,289,377 12/31/2018 17.2% $1,712,351 $427,693 $1,284,658 12/31/2019 17.1% 85.4% $1,712,351 $383,922 $1,328,429 17.7% $13,485
Loan 6 28 Stor-All Portfolio KS First LO(28);DEF(88);O(4)     $840,601 $275,630 $564,971 12/31/2017 9.2% $851,496 $292,010 $559,486 12/31/2018 9.1% $890,786 $254,945 $635,841 10/31/2019 TTM 10.4% 87.0% $890,786 $348,702 $542,084 8.8% $14,292
Property   28.01 Stor-All Pawnee         $381,213 $112,731 $268,482 12/31/2017   $397,264 $123,228 $274,036 12/31/2018   $415,852 $116,827 $299,025 10/31/2019 TTM   83.7% $415,852 $167,007 $248,845   $2,703
Property   28.02 Stor-All Amidon         $358,223 $108,905 $249,318 12/31/2017   $358,108 $115,887 $242,221 12/31/2018   $376,966 $100,390 $276,576 10/31/2019 TTM   92.9% $376,966 $130,934 $246,032   $10,300
Property   28.03 Stor-All Hydraulic         $101,165 $53,994 $47,171 12/31/2017   $96,124 $52,895 $43,229 12/31/2018   $97,968 $37,728 $60,240 10/31/2019 TTM   80.5% $97,968 $50,761 $47,207   $1,289
Loan   29 Cabela’s Outpost Saginaw First LO(26);YM1(87);O(7) G   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 N/A N/A 90.0% $702,593 $37,587 $665,006 11.1% $9,770
Loan   30 Airpark Drive Eleventh LO(28);DEF(85);O(7)     N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $602,603 $150,493 $452,110 11/30/2019 TTM 7.8% 95.0% $871,919 $239,500 $632,420 10.9% $3,630
Loan   31 Frisco Lakes III Shopping Center Eleventh LO(28);DEF(88);O(4)     N/A N/A N/A N/A N/A $411,103 $213,523 $197,580 12/31/2018 3.5% $671,233 $246,438 $424,795 12/31/2019 7.5% 93.1% $824,740 $229,568 $595,172 10.5% $2,272
Loan   32 EL Monte Plaza Eleventh LO(27);DEF(89);O(4)     $910,430 $192,615 $717,815 12/31/2017 13.9% $913,402 $180,649 $732,753 12/31/2018 14.2% $938,489 $191,091 $747,398 12/31/2019 14.4% 93.1% $949,082 $220,325 $728,758 14.1% $10,810
Loan   33 Aldi - Bellflower First LO(26);DEF(89);O(5)     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 N/A N/A 95.0% $585,845 $100,505 $485,341 10.2% $5,250
Loan   34 Skyway Self Storage First LO(26);DEF(90);O(4)     $576,026 $245,853 $330,173 12/31/2017 8.1% $627,116 $260,378 $366,738 12/31/2018 8.9% $641,133 $257,918 $383,215 1/31/2020 TTM 9.3% 89.8% $642,247 $255,518 $386,729 9.4% $5,533
Loan   35 Statham Oaks Self Storage Eleventh LO(27);DEF(89);O(4)     $300,355 $159,806 $140,550 12/31/2017 5.4% $356,147 $165,630 $190,516 12/31/2018 7.3% $415,332 $172,438 $242,894 12/31/2019 9.3% 88.5% $443,708 $167,250 $276,458 10.6% $4,143
Loan   36 Central Self Storage - Dunlap First LO(27);DEF(88);O(5)     $827,166 $293,902 $533,264 12/31/2017 33.3% $879,761 $319,073 $560,688 12/31/2018 35.0% $953,610 $303,998 $649,612 12/31/2019 40.6% 88.4% $950,280 $275,244 $675,036 42.2% $16,619
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name Underwritten
TI/LC
Underwritten NCF Underwritten NCF Debt Yield   Largest Tenant Largest
Tenant Lease
Expiration(4)
Largest
Tenant NSF
Largest
Tenant
% of NSF
  2nd Largest Tenant 2nd Largest
Tenant Lease
Expiration(4)
2nd Largest
Tenant NSF
2nd Largest
Tenant
% of NSF
 
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino $0 $453,829,378 27.1%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan 5 2 55 Hudson Yards $3,578,030 $100,036,059 10.6%   Point72 4/30/2034 332,283 23.2%   Milbank, Tweed, Hadley & McCloy 3/31/2034 287,333 20.1%  
Loan 5, 8 3 525 Market $1,034,170 $60,287,862 12.8%   Amazon.com Services, Inc. 179,278 SF on 1/31/2028; 28,734 SF on 4/30/2029; 114,434 SF on 2/28/2030; 86,115 SF on 1/31/2031 408,561 39.5%   Sephora USA, Inc. 110,830 SF on 10/31/2021; 56,467 SF on 10/31/2023 167,297 16.2%  
Loan 5 4 200 West 57th Street $671,802 $7,934,848 6.9%   The St. Luke’s Roosevelt Hospital 21,549 SF (1/31/2026); 8,743 SF (10/31/2023); 5,258 SF (2/28/2022) 35,550 20.7%   Extended Fertility LLC. 7,074 SF (8/31/2029); 2,945 SF (8/31/2029); 938 SF (8/31/2020) 10,957 6.4%  
Loan 5 5 Ralph Lauren HQ New Jersey $0 $5,424,489 9.5%   Ralph Lauren 12/31/2035 255,018 100.0%   N/A N/A N/A N/A  
Loan 5, 8, 9, 12 6 711 Fifth Avenue $544,350 $50,675,427 9.3%   SunTrust Banks 4/30/2024 84,516 24.9%   Allen & Company 9/30/2033 70,972 20.9%  
Loan 5, 8 7 1633 Broadway $2,011,364 $116,677,727 11.7%   Allianz Asset Mgmt of America 1/31/2031 320,911 12.5%   WMG Acquisition Corp 293,487 SF on 7/31/2029; 401 SF on MTM 293,888 11.5%  
Loan 5, 8 8 560 Mission Street $1,336,298 $41,204,170 13.7%   JP Morgan 9/30/2025 246,384 36.9%   EY 12/31/2028 122,760 18.4%  
Loan   9 3300 West Sahara $226,723 $2,421,068 10.4%   State of NV Dept. Bus. & Industry 4/30/2022 64,653 28.6%   State of NV Dept. of Adm. Health & Human 2/28/2030 39,625 17.5%  
Loan   10 Laidley Tower $279,429 $2,134,074 12.6%   Jackson Kelly PLLC 6/30/2030 61,585 28.9%   Morgan Stanley Smith Barney Financing LLC 6/30/2024 16,837 7.9%  
Loan 6 11 Rosewood Self Storage Portfolio $0 $1,712,812 10.1%                      
Property   11.01 Northwest Highway Overview $0 $610,162     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   11.02 Forest Lane Overview $0 $555,967     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   11.03 Walnut Hill $0 $342,094     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   11.04 Cooper Overview $0 $204,589     N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   12 StorQuest Self Storage - Indio $0 $1,142,901 8.7%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan 6, 9 13 Central Self Storage Portfolio Idaho $0 $2,222,104 17.1%                      
Property   13.01 Central Self Storage Idaho - Meridian $0 $686,633     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   13.02 Central Self Storage Idaho - Star $0 $578,149     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   13.03 Central Self Storage Idaho - Boise $0 $543,049     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   13.04 Central Self Storage Idaho - Caldwell $0 $414,273     N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   14 GoodFriend Self Storage - East Hampton $0 $1,048,340 8.3%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   15 Lowe’s - Fairlawn, OH $57,102 $1,050,221 8.4%   Lowe’s Home Improvement 6/30/2031 129,044 100.0%   N/A N/A N/A N/A  
Loan   16 Agoura Meadows Shopping Center $51,763 $1,912,858 17.4%   Vons Market #29-2001 2/29/2024 41,250 41.6%   Bank of America 7/28/2029 7,953 8.0%  
Loan   17 StorQuest Self Storage - La Quinta $0 $796,125 8.7%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   18 Central Self Storage - Broadway $0 $992,330 11.7%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   19 River Oaks Shopping Center $41,027 $870,103 10.3%   Hobby Lobby 6/30/2029 50,000 36.6%   Big Lots 1/1/2030 39,583 29.0%  
Loan   20 The Playa Merced Shopping Center $20,404 $889,652 10.6%   Rancho San Miguel Market 8/31/2034 53,646 78.7%   Mountain Mike’s Pizza 10/31/2021 4,500 6.6%  
Loan   21 Four Corners Self Storage $0 $681,744 8.3%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   22 Gillmor - Reno $63,030 $1,169,119 14.6%   Holland & Hart, LLP 3/28/2024 30,081 47.7%   Eide Bailly 7/31/2026 19,525 31.0%  
Loan   23 Central Self Storage - Antioch $0 $987,792 12.3%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   24 First Choice Self Storage - Grapevine $0 $785,857 9.8%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan 6, 7 25 Aspen Self Storage Portfolio $0 $904,480 11.3%                      
Property   25.01 1900-1912 West New Orleans Street $0 $455,453     Dollar General Store 5/31/2025 7,500 100.0%   N/A N/A N/A N/A  
Property   25.02 12919-12989 East 31st Street $0 $289,736     Asian Mart International Supermarket, LLC 9/30/2028 22,891 72.1%   Dollar General Store 10/31/2025 8,858 27.9%  
Property   25.03 1301 South York Street $0 $159,291     N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   26 Preserve at Quail Pass Phase III $0 $649,224 8.5%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   27 Central Self Storage - Concord $0 $1,314,944 17.5%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan 6 28 Stor-All Portfolio KS $0 $527,792 8.6%                      
Property   28.01 Stor-All Pawnee $0 $246,142     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   28.02 Stor-All Amidon $0 $235,732     N/A N/A N/A N/A   N/A N/A N/A N/A  
Property   28.03 Stor-All Hydraulic $0 $45,918     N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   29 Cabela’s Outpost Saginaw $29,909 $625,327 10.5%   Cabela’s Outpost 5/31/2044 48,849 100.0%   N/A N/A N/A N/A  
Loan   30 Airpark Drive $27,746 $601,044 10.4%   Curation Foods, Inc. 7/31/2030 36,300 100.0%   N/A N/A N/A N/A  
Loan   31 Frisco Lakes III Shopping Center $2,043 $590,857 10.5%   PPG Architectural Finishes, Inc. 3/31/2028 3,547 15.6%   Hana Martial Arts, LLC 4/30/2029 3,030 13.3%  
Loan   32 EL Monte Plaza $16,890 $701,058 13.5%   Green Farm Market 4/30/2028 23,400 52.3%   SBA Gas Station 12/31/2020 11,000 24.6%  
Loan   33 Aldi - Bellflower $28,350 $451,741 9.5%   ALDI 11/30/2029 35,000 100.0%   N/A N/A N/A N/A  
Loan   34 Skyway Self Storage $0 $381,196 9.3%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   35 Statham Oaks Self Storage $0 $272,315 10.5%   N/A N/A N/A N/A   N/A N/A N/A N/A  
Loan   36 Central Self Storage - Dunlap $0 $658,417 41.2%   N/A N/A N/A N/A   N/A N/A N/A N/A  
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name   3rd Largest Tenant 3rd Largest
Tenant Lease
Expiration(4)
3rd Largest
Tenant NSF
3rd Largest
Tenant
% of NSF
  4th Largest Tenant 4th Largest
Tenant Lease
Expiration(4)
4th Largest
Tenant NSF
4th Largest
Tenant
% of NSF
  5th Largest Tenant 5th Largest
Tenant Lease
Expiration(4)
5th Largest
Tenant NSF
5th Largest
Tenant
% of NSF
  Upfront
Replacement
Reserves
Monthly
Replacement
Reserves
Replacement
Reserve Cap
Upfront TI/LC
 Reserves
Monthly TI/LC
Reserves
TI/LC
Reserve Cap
Upfront Tax
 Reserves
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan 5 2 55 Hudson Yards   Cooley 9/30/2039 146,227 10.2%   Boies, Schiller & Flexner 6/30/2035 110,732 7.7%   Third Point 7/31/2029 89,043 6.2%   $0 $0 $0 $0 $0 $0 $0
Loan 5, 8 3 525 Market   Wells Fargo Bank, N.A. 113,035 SF on 6/30/2025; 28,109 SF on 5/28/2026; 1,785 SF on 6/29/2023 142,929 13.8%   Cloudera, Inc. 5/31/2025 57,272 5.5%   Zurich American Insurance Company 11/30/2022 39,923 3.9%   $0 $0 $413,616 $0 $0 $2,068,082 $0
Loan 5 4 200 West 57th Street   Orthology INC. 12/31/2029 7,030 4.1%   Reproductive Medicine Assoc. 8/31/2025 5,242 3.1%   Cieli Partners L.P. 8/31/2028 4,000 2.3%   $0 $3,866 $92,775 $0 $21,424 $514,185 $143,187
Loan 5 5 Ralph Lauren HQ New Jersey   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $4,251 $51,016 $0 $0 $0 $293,602
Loan 5, 8, 9, 12 6 711 Fifth Avenue   Ralph Lauren Retail Inc. 6/30/2029 38,638 11.4%   Loro Piana USA 8/31/2025 24,388 7.2%   Sandler Capital 6/30/2027 17,200 5.1%   $0 $0 $170,012 $0 $0 $1,020,027 $0
Loan 5, 8 7 1633 Broadway   Showtime Networks Inc 1/31/2026 261,196 10.2%   Morgan Stanley & Co 3/31/2032 260,829 10.2%   Kasowitz Benson Torres 3/31/2037 203,394 7.9%   $0 $0 $1,024,605 $0 $0 $5,123,024 $0
Loan 5, 8 8 560 Mission Street   TIAA-CREF 9/30/2027 64,696 9.7%   ARUP 9/30/2026 49,832 7.5%   Seyfarth Shaw 9/30/2027 49,695 7.4%   $0 $0 $267,260 $2,152,612 $0 $2,004,447 $0
Loan   9 3300 West Sahara   State of NV Dept. Bus. & Industry Division of Industrial Relations 5/31/2023 39,548 17.5%   Windham Professionals, Inc. 4/30/2024 14,560 6.4%   Wells Fargo Bank, N.A. 11/30/2021 11,081 4.9%   $0 $4,704 $0 $2,250,000 $0 $1,000,000 $0
Loan   10 Laidley Tower   Appalachian Power Company 12/31/2025 16,343 7.7%   Huntington National Bank 9/30/2029 14,641 6.9%   Wells Fargo Advisors, LLC 11/30/2021 12,443 5.8%   $0 $3,546 $0 $0 $0 $702,135 $110,996
Loan 6 11 Rosewood Self Storage Portfolio                                 $0 $2,634 $94,812 $0 $0 $0 $53,426
Property   11.01 Northwest Highway Overview   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   11.02 Forest Lane Overview   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   11.03 Walnut Hill   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   11.04 Cooper Overview   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Loan   12 StorQuest Self Storage - Indio   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan 6, 9 13 Central Self Storage Portfolio Idaho                                 $0 $0 $0 $0 $0 $0 $0
Property   13.01 Central Self Storage Idaho - Meridian   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   13.02 Central Self Storage Idaho - Star   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   13.03 Central Self Storage Idaho - Boise   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   13.04 Central Self Storage Idaho - Caldwell   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Loan   14 GoodFriend Self Storage - East Hampton   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $479 $17,235 $0 $0 $0 $10,983
Loan   15 Lowe’s - Fairlawn, OH   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $1,075 $38,713 $0 $0 $0 $0
Loan   16 Agoura Meadows Shopping Center   JPChase Bank #21022 3/31/2024 5,000 5.0%   The Latigo Kid Mexican Restaurant 1/31/2024 4,769 4.8%   Cronies Sports Grill 8/31/2024 4,070 4.1%   $0 $0 $0 $0 $0 $0 $0
Loan   17 StorQuest Self Storage - La Quinta   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan   18 Central Self Storage - Broadway   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan   19 River Oaks Shopping Center   Marshall’s 8/31/2029 22,000 16.1%   Five Below 1/31/2029 8,758 6.4%   Petsense 8/31/2029 6,000 4.4%   $0 $1,821 $0 $300,000 $0 $300,000 $25,182
Loan   20 The Playa Merced Shopping Center   Golden Valley Wash N’ Dry (PAQ, Inc.) 7/31/2027 2,400 3.5%   Fred Loya Insurance 6/30/2023 1,500 2.2%   Oportun, Inc. Store 8/31/2021 1,300 1.9%   $0 $961 $23,064 $137,000 $2,842 $137,000 $12,918
Loan   21 Four Corners Self Storage   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $25,000 $0 $25,000 $0 $0 $0 $0
Loan   22 Gillmor - Reno   Ticor Title of Nevada, Inc. 10/31/2025 13,424 21.3%   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $25,212 $0 $0 $252,120 $21,240
Loan   23 Central Self Storage - Antioch   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan   24 First Choice Self Storage - Grapevine   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $1,247 $44,892 $0 $0 $0 $12,986
Loan 6, 7 25 Aspen Self Storage Portfolio                                 $0 $3,241 $77,775 $0 $0 $0 $40,185
Property   25.01 1900-1912 West New Orleans Street   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   25.02 12919-12989 East 31st Street   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   25.03 1301 South York Street   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Loan   26 Preserve at Quail Pass Phase 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   $0 $1,271 $45,750 $0 $0 $0 $57,124
Loan   27 Central Self Storage - Concord   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan 6 28 Stor-All Portfolio KS                                 $0 $1,191 $0 $0 $0 $0 $18,296
Property   28.01 Stor-All Pawnee   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   28.02 Stor-All Amidon   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Property   28.03 Stor-All Hydraulic   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A                
Loan   29 Cabela’s Outpost Saginaw   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
Loan   30 Airpark 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   $0 $303 $7,272 $0 $0 $0 $5,900
Loan   31 Frisco Lakes III Shopping Center   Meenan Financial LLC 5/31/2024 2,795 12.3%   Maruti - Kansagara Investments LLC 4/30/2023 2,468 10.9%   Sweet Rice, LLC 2/28/2023 2,375 10.5%   $0 $284 $6,818 $150,000 $3,787 $150,000 $25,062
Loan   32 EL Monte Plaza   Dentistry 8/31/2024 1,300 2.9%   Subway 8/31/2021 1,110 2.5%   Happy Nail 11/30/2020 1,026 2.3%   $0 $0 $0 $0 $0 $0 $0
Loan   33 Aldi - Bellflower   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $438 $0 $0 $0 $0 $0
Loan   34 Skyway Self Storage   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $32,000 $0 $32,000 $0 $0 $0 $0
Loan   35 Statham Oaks Self Storage   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $518 $0 $0 $0 $0 $8,600
Loan   36 Central Self Storage - Dunlap   N/A N/A N/A N/A   N/A N/A N/A N/A   N/A N/A N/A N/A   $0 $0 $0 $0 $0 $0 $0
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name   Monthly Tax
 Reserves
Upfront
Insurance Reserves
Monthly
Insurance
Reserves
Upfront
Deferred Maint.
Reserve
Initial Other
Reserves
Ongoing Other
Reserves
Other Reserves Description   Appraisal
Report Date
Environmental
Phase I
Report Date
Environmental
Phase II
Report Date
Engineering
Report Date
Seismic
Report Date
Seismic Zone (Y/N) PML %  
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino   $0 $0 $0 $0 $0 $0 N/A   11/12/2019 11/6/2019 N/A 11/6/2019 N/A No N/A  
Loan 5 2 55 Hudson Yards   $0 $0 $0 $0 $61,217,618 $0 Tenant Specific TILC Reserve; Free Rent Reserve; Milbank Lease Landlord Delay Dispute Reserve; MarketAxess Lease Takeover Reserve   11/6/2019 10/9/2019 N/A 10/4/2019 N/A No N/A  
Loan 5, 8 3 525 Market   $0 $0 $0 $0 $41,391,428 $0 Free Rent Reserve; Outstanding TI/LC Reserve   12/9/2019 12/5/2019 N/A 11/22/2019 12/6/2019 Yes - 4 17.0%  
Loan 5 4 200 West 57th Street   $143,187 $0 $0 $0 $2,069,759 $0 Rent Concession Reserve Funds; Outstanding TI/LC Reserve Funds   12/12/2019 12/11/2019 N/A 12/11/2019 N/A No N/A  
Loan 5 5 Ralph Lauren HQ New Jersey   $97,867 $0 $6,222 $0 $9,180,393 $0 Environmental Escrow; Free Rent; Gap Reserve; Liqduidation Payment/ Rent Credit Reserve   12/4/2019 11/7/2019 N/A 11/6/2019 N/A No N/A  
Loan 5, 8, 9, 12 6 711 Fifth Avenue   $0 $0 $0 $0 $1,048,024 $0 Unfunded Obligations Reserve   2/19/2020 2/3/2020 N/A 1/30/2020 N/A No N/A  
Loan 5, 8 7 1633 Broadway   $0 $0 $0 $0 $36,389,727 $0 Unfunded Obligations Reserve   11/6/2019 10/30/2019 N/A 10/30/2019 N/A No N/A  
Loan 5, 8 8 560 Mission Street   $0 $0 $0 $0 $0 $0 N/A   10/31/2019 11/25/2019 N/A 11/18/2019 11/18/2019 Yes - 4 9.0%  
Loan   9 3300 West Sahara   $11,253 $10,634 $5,317 $0 $2,232,735 $0 Existing Tenant Improvements Funds; Existing Leasing Commissions Funds; Free Rent Reserve Funds   2/26/2020 2/12/2020 N/A 2/11/2020 N/A N/A N/A  
Loan   10 Laidley Tower   $22,199 $0 $0 $0 $226,483 $0 Existing TI/LC Reserve   11/12/2019 11/4/2019 N/A 11/5/2019 N/A No N/A  
Loan 6 11 Rosewood Self Storage Portfolio   $26,714 $0 $0 $34,894 $0 $0 N/A                  
Property   11.01 Northwest Highway Overview                   2/24/2020 1/10/2020 N/A 1/9/2020 N/A No N/A  
Property   11.02 Forest Lane Overview                   2/24/2020 1/10/2020 N/A 1/10/2020 N/A No N/A  
Property   11.03 Walnut Hill                   2/24/2020 1/10/2020 N/A 1/8/2020 N/A No N/A  
Property   11.04 Cooper Overview                   2/11/2020 1/10/2020 N/A 1/10/2020 N/A No N/A  
Loan   12 StorQuest Self Storage - Indio   $12,158 $0 $0 $27,331 $0 $0 N/A   1/13/2020 1/2/2020 N/A 1/2/2020 12/31/2019 Yes - 4 12.0%  
Loan 6, 9 13 Central Self Storage Portfolio Idaho   $24,250 $0 $0 $0 $0 $0 N/A                  
Property   13.01 Central Self Storage Idaho - Meridian                   12/19/2019 12/17/2019 N/A 12/18/2019 N/A No N/A  
Property   13.02 Central Self Storage Idaho - Star                   12/19/2019 12/17/2019 N/A 12/17/2019 N/A No N/A  
Property   13.03 Central Self Storage Idaho - Boise                   12/18/2019 12/17/2019 N/A 12/17/2019 N/A No N/A  
Property   13.04 Central Self Storage Idaho - Caldwell                   12/19/2019 12/17/2019 N/A 12/17/2019 N/A No N/A  
Loan   14 GoodFriend Self Storage - East Hampton   $2,197 $11,860 $1,977 $0 $0 $0 N/A   3/3/2020 2/20/2020 N/A 2/20/2020 N/A No N/A  
Loan   15 Lowe’s - Fairlawn, OH   $0 $0 $0 $0 $0 $0 N/A   1/9/2020 1/2/2020 N/A 1/2/2020 N/A No N/A  
Loan   16 Agoura Meadows Shopping Center   $0 $0 $0 $0 $0 $0 N/A   2/5/2020 11/8/2019 N/A 11/8/2019 11/8/2019 Yes - 4 11.0%  
Loan   17 StorQuest Self Storage - La Quinta   $8,043 $0 $0 $0 $0 $0 N/A   1/13/2020 12/31/2019 N/A 12/31/2019 12/27/2019 Yes - 4 11.0%  
Loan   18 Central Self Storage - Broadway   $6,270 $0 $0 $0 $0 $0 N/A   2/10/2020 12/18/2019 N/A 12/18/2019 2/4/2020 Yes - 4 8.0%  
Loan   19 River Oaks Shopping Center   $8,394 $7,832 $3,916 $0 $518,358 $0 Existing TI/LC; MASA Mexican Funds; Big Lots Expansion Work   1/22/2020 1/7/2020 N/A 1/7/2020 N/A No N/A  
Loan   20 The Playa Merced Shopping Center   $12,918 $5,728 $2,864 $0 $0 $0 N/A   1/23/2020 1/8/2020 N/A 1/9/2020 1/9/2020 Yes - 3 5.0%  
Loan   21 Four Corners Self Storage   $8,834 $0 $0 $0 $0 $0 N/A   2/27/2020 2/10/2020 N/A 2/10/2020 2/10/2020 Yes - 3 7.0%  
Loan   22 Gillmor - Reno   $10,620 $0 $0 $0 $534,347 $0 Tenant Specific TILC Reserve   1/28/2020 1/13/2020 N/A 1/13/2020 1/13/2020 Yes - 4 17.0%  
Loan   23 Central Self Storage - Antioch   $7,634 $0 $0 $0 $0 $0 N/A   2/4/2020 12/18/2019 N/A 12/17/2019 12/26/2019 Yes - 4 9.0%  
Loan   24 First Choice Self Storage - Grapevine   $12,959 $21,297 $5,324 $0 $0 $0 N/A   1/14/2020 12/19/2019 N/A 12/19/2019 N/A No N/A  
Loan 6, 7 25 Aspen Self Storage Portfolio   $10,046 $0 $0 $116,032 $0 $0 N/A                  
Property   25.01 1900-1912 West New Orleans Street                   11/18/2019 9/10/2019 N/A 1/28/2020 N/A No N/A  
Property   25.02 12919-12989 East 31st Street                   11/18/2019 9/12/2019 N/A 1/28/2020 N/A No N/A  
Property   25.03 1301 South York Street                   10/29/2019 9/12/2019 N/A 9/12/2019 N/A No N/A  
Loan   26 Preserve at Quail Pass Phase III   $19,041 $0 $0 $0 $0 $0 N/A   12/17/2019 12/17/2019 N/A 12/17/2019 N/A No N/A  
Loan   27 Central Self Storage - Concord   $7,193 $0 $0 $0 $0 $0 N/A   1/30/2020 12/17/2019 N/A 12/17/2019 12/16/2019 Yes - 4 8.0%  
Loan 6 28 Stor-All Portfolio KS   $6,099 $0 $0 $61,280 $0 $0 N/A                  
Property   28.01 Stor-All Pawnee                   1/16/2020 12/24/2019 N/A 12/24/2019 N/A No N/A  
Property   28.02 Stor-All Amidon                   1/16/2020 12/24/2019 N/A 1/20/2020 N/A No N/A  
Property   28.03 Stor-All Hydraulic                   1/16/2020 12/24/2019 N/A 12/24/2019 N/A No N/A  
Loan   29 Cabela’s Outpost Saginaw   $0 $0 $0 $0 $375,000 $0 N/A   3/2/2020 1/22/2020 N/A 2/7/2020 N/A No N/A  
Loan   30 Airpark Drive   $5,900 $0 $0 $0 $0 $0 N/A   1/21/2020 1/6/2020 N/A 1/10/2020 1/15/2020 Yes - 4 13.0%  
Loan   31 Frisco Lakes III Shopping Center   $12,531 $3,646 $1,823 $0 $0 $0 N/A   1/24/2020 1/7/2020 N/A 1/8/2020 N/A No N/A  
Loan   32 EL Monte Plaza   $0 $0 $0 $79,688 $0 $2,778 Roof Replacement Reserve   12/20/2019 12/12/2019 N/A 12/12/2019 12/12/2019 Yes - 4 25.0%  
Loan   33 Aldi - Bellflower   $0 $0 $0 $0 $0 $0 N/A   1/24/2020 1/17/2020 N/A 1/17/2020 1/17/2020 Yes - 4 17.0%  
Loan   34 Skyway Self Storage   $4,056 $0 $0 $0 $0 $0 N/A   2/26/2020 2/10/2020 N/A 2/10/2020 2/10/2020 Yes - 3 11.0%  
Loan   35 Statham Oaks Self Storage   $1,720 $1,075 $1,075 $0 $0 $0 N/A   2/14/2020 12/11/2019 N/A 12/11/2019 N/A No N/A  
Loan   36 Central Self Storage - Dunlap   $6,644 $0 $0 $0 $0 $0 N/A   2/6/2020 1/15/2020 N/A 1/15/2020 N/A No N/A  
  

 

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

 

Property
Flag
Footnotes Loan ID Property Name   Cut-off Date
Pari Passu Mortgage
Debt Balance
Coop - Committed Secondary Debt Cut-off Date
Subord. Mortgage
Debt Balance
Total Mortgage
Debt Cut-off
Date LTV Ratio
Total Mortgage
Debt UW
NCF DSCR
Total Mortgage
Debt UW NOI
Debt Yield
  Cut-off Date
Mezzanine
Debt Balance
Total Debt
Cut-off Date
LTV Ratio
Total
Debt UW
NCF DSCR
Total Debt
UW NOI
Debt Yield
  Coop - Rental Value Coop - LTV as Rental Coop - Unsold Percent Coop - Sponsor Units Coop - Investor Units Coop - Coop Units Coop - Sponsor/
Investor Carry
Loan 5, 8, 10, 11 1 Bellagio Hotel and Casino   $1,615,200,000   $1,333,800,000 70.7% 4.06x 15.7%                          
Loan 5 2 55 Hudson Yards   $891,000,000   $300,000,000 51.9% 2.69x 8.3%                          
Loan 5, 8 3 525 Market   $420,000,000   $212,000,000 53.7% 2.96x 9.0%                          
Loan 5 4 200 West 57th Street   $70,000,000     62.2% 1.93x 7.5%                          
Loan 5 5 Ralph Lauren HQ New Jersey   $13,000,000     59.4% 3.00x 9.6%                          
Loan 5, 8, 9, 12 6 711 Fifth Avenue   $502,000,000     54.5% 2.90x 9.4%                          
Loan 5, 8 7 1633 Broadway   $961,000,000   $249,000,000 52.1% 3.08x 9.5%                          
Loan 5, 8 8 560 Mission Street   $270,000,000     35.6% 5.23x 14.2%                          
Loan   9 3300 West Sahara                                        
Loan   10 Laidley Tower                                        
Loan 6 11 Rosewood Self Storage Portfolio                                        
Property   11.01 Northwest Highway Overview                                        
Property   11.02 Forest Lane Overview                                        
Property   11.03 Walnut Hill                                        
Property   11.04 Cooper Overview                                        
Loan   12 StorQuest Self Storage - Indio                                        
Loan 6, 9 13 Central Self Storage Portfolio Idaho                                        
Property   13.01 Central Self Storage Idaho - Meridian                                        
Property   13.02 Central Self Storage Idaho - Star                                        
Property   13.03 Central Self Storage Idaho - Boise                                        
Property   13.04 Central Self Storage Idaho - Caldwell                                        
Loan   14 GoodFriend Self Storage - East Hampton                                        
Loan   15 Lowe’s - Fairlawn, OH                                        
Loan   16 Agoura Meadows Shopping Center                                        
Loan   17 StorQuest Self Storage - La Quinta                                        
Loan   18 Central Self Storage - Broadway                                        
Loan   19 River Oaks Shopping Center                                        
Loan   20 The Playa Merced Shopping Center                                        
Loan   21 Four Corners Self Storage                                        
Loan   22 Gillmor - Reno                                        
Loan   23 Central Self Storage - Antioch                                        
Loan   24 First Choice Self Storage - Grapevine                                        
Loan 6, 7 25 Aspen Self Storage Portfolio                                        
Property   25.01 1900-1912 West New Orleans Street                                        
Property   25.02 12919-12989 East 31st Street                                        
Property   25.03 1301 South York Street                                        
Loan   26 Preserve at Quail Pass Phase III                                        
Loan   27 Central Self Storage - Concord                                        
Loan 6 28 Stor-All Portfolio KS                                        
Property   28.01 Stor-All Pawnee                                        
Property   28.02 Stor-All Amidon                                        
Property   28.03 Stor-All Hydraulic                                        
Loan   29 Cabela’s Outpost Saginaw                                        
Loan   30 Airpark Drive                                        
Loan   31 Frisco Lakes III Shopping Center                                        
Loan   32 EL Monte Plaza                                        
Loan   33 Aldi - Bellflower                                        
Loan   34 Skyway Self Storage                                        
Loan   35 Statham Oaks Self Storage                                        
Loan   36 Central Self Storage - Dunlap                                        
  

 

  BANK 2020-BNK27
  Footnotes to Annex A-1
   
(1) MSBNA—Morgan Stanley Bank, N.A.;MSMCH—Morgan Stanley Mortgage Capital Holdings LLC; WFB—Wells Fargo Bank, National Association;  BANA—Bank of America, National Association
   
(2) Certain tenants may not be in occupancy or may be in free rent periods. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in this preliminary prospectus for information regarding single tenant properties or properties with tenants that (i) with respect to the largest 15 Mortgage Loans, are one of the largest 5 tenants at each related mortgaged property or portfolio of mortgaged properties or (ii) occupy 50% or more of the NRA, which, in each case, are not in occupancy or are in free rent periods.
   
(3) The Administrative Fee Rate includes the Master Servicing Fee Rate, the Primary Servicing Fee Rate or, with respect to any non-serviced mortgage loan, the Pari Passu Loan Primary Servicing Fee Rate, the Trustee Fee Rate (which includes the fees payable to both the trustee and certificate administrator), the Operating Advisor Fee Rate ,  the Asset Representations Reviewer Fee Rate,  and the CREFC Fee Rate, in each case applicable to the related mortgage loan.
   
(4) Certain tenants may have lease termination options that are exercisable prior to the originally stated expiration date of the subject lease. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Terminations” for information regarding certain lease termination options affecting (i) the largest 15 Mortgage Loans or groups of cross-collateralized Mortgage Loans and the largest 5 tenants at each related mortgaged property or portfolio of mortgaged properties and (ii) mortgaged properties where any tenant occupies 50% or more of the NRA.
   
(5) With respect to Mortgage Loan No. 1, Bellagio Hotel and Casino,  Mortgage Loan No. 2, 55 Hudson Yards, Mortgage Loan No. 3, 525 Market, Mortgage Loan No. 4, 200 West 57th Street, Mortgage Loan No. 5, Ralph Lauren HQ New Jersey, Mortgage Loan No. 6, 711 Fifth Avenue, Mortgage Loan No. 7, 1633 Broadway and Mortgage Loan No. 8, 560 Mission Street, each such Mortgage Loan is part of a whole loan related to the Issuing Entity. For further information, with respect to each serviced whole loan, see “Description of the Mortgage Pool—The Whole Loans—The Serviced Pari Passu Whole Loans” and “Pooling and Servicing Agreement”, and with respect to each non-serviced whole loan, see “Description of the Mortgage Pool—The Whole Loans—The Non-Serviced Pari Passu Whole Loans”, “—The Bellagio Hotel and Casino Pari Passu-A/B Whole Loan”, “—The 55 Hudson Yards Pari Passu-A/B Whole Loan”,“—The 525 Market Pari Passu-A/B Whole Loan” and “—The 1633 Broadway Pari Passu-A/B Whole Loan”, as applicable, and “Pooling and Servicing Agreement—Servicing of the Non-Serviced Mortgage Loans” in this preliminary prospectus.
   
(6) With respect to Mortgage Loan No. 11, Rosewood Self Storage Portfolio, Mortgage Loan No. 13, Central Self Storage Portfolio Idaho, Mortgage Loan No. 25, Aspen Self Storage Portfolio and Mortgage Loan No. 28, Stor-All Portfolio KS, each such Mortgage Loan is secured by multiple mortgaged properties. For purposes of the statistical information set forth in this preliminary prospectus as to such mortgage loans, all LTV, DSCR, Debt Yield and Cut-off Date Balance per SF/Units/Rooms/Pads calculations are shown on an aggregate basis, and a portion of the Cut-off Date Balance has been allocated to each mortgaged property based on the respective Appraised Values and/or UW NCF, among other methods.
   
(7) With respect to Mortgage Loan No. 25, Aspen Self Storage Portfolio , the related loan documents permit a partial collateral release subject to LTV, DSCR and/or Debt Yield tests, or other release conditions, in connection with a partial defeasance or prepayment of the related mortgage loan. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Defeasance” and “—Releases; Partial Releases; Property Additions” in this preliminary prospectus.
   
(8) With respect to Mortgage Loan No. 1, Bellagio Hotel and Casino, Mortgage Loan No. 3, 525 Market, Mortgage Loan No. 6, 711 Fifth Avenue, Mortgage Loan No. 7, 1633 Broadway and Mortgage Loan No. 8, 560 Mission Street, the related mortgage loan documents permit future subordinate secured financing or mezzanine financing and/or preferred equity generally subject to compliance with certain combined LTV, DSCR and/or Debt Yield tests. See “Description of the Mortgage Pool—Additional Indebtedness—Mezzanine Indebtedness” in this preliminary prospectus.
   
(9) With respect to Mortgage Loan No. 6, 711 Fifth Avenue, the Appraised Value assumes that the Whole Loan sponsors have invested approximately $13.5 million in renovation costs for upgrades to the office lobby entrance, building mechanical systems, elevator cabs and general base building work for the vacant office space within the Mortgaged Property.
   
  With respect to Mortgage Loan No. 13, Central Self Storage Portfolio Idaho, the Appraised Value shown reflects a portfolio value of $35,900,000. The Cut-off Date LTV Ratio and Maturity Date LTV Ratio assuming the aggregate “As-Is” values of the individual properties of $33,120,000 are 39.3% and 39.3%, respectively.
   
(10) With respect to Mortgage Loan No. 1, Bellagio Hotel and Casino, as of trailing 12 months ending September 30, 2019, 29.6% of underwritten revenues were from gaming, 28.4% from hotel, 24.7% from food & beverage, 9.0% from entertainment and 8.3% from other sources.
   
(11) With respect to Mortgage Loan No. 1, Bellagio Hotel and Casino, the Mortgaged Property was acquired by the borrower in a sale-leaseback transaction from Bellagio, LLC, an indirectly wholly owned subsidiary of MGM Resorts International, which
  

  entered into a new 30-year lease, with two 10-year extension options to operate the Mortgaged Property (the “Bellagio Lease”). The Bellagio tenant owns a 5% equity interest in the borrower. Financial and other information in this preliminary prospectus is presented on a “look through” basis, before rent due under the Bellagio Lease. For so long as the Bellagio Lease is in effect, the borrower will be entitled only to the rent due under the Bellagio Lease and not to the underlying rent and other income from the Mortgaged Property. The initial Bellagio Lease annual rent is $245,000,000, and debt service coverage ratio and debt yield for the Bellagio Hotel and Casino Whole Loan based on such initial annual rent are 2.19x and 8.1%, respectively.
   
(12) With respect to Mortgage Loan No. 6, 711 Fifth Avenue, the third largest tenant, Ralph Lauren, representing approximately 11.4% of the net rentable area, has been dark since April 2017 for the majority of its space. Ralph Lauren continues to operate the Polo Bar restaurant (7,436 SF of the total Ralph Lauren 38,638 SF) at this location and continues to be obligated to pay rent for its entire leased space.
   
A. “Yield Maintenance Premium” means an amount equal to the greater of (a) one-half of one percent (0.50%) of the outstanding principal amount of the loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest under the loan assuming that all scheduled payments are made timely and that the remaining outstanding principal and interest on the applicable Note is paid on the Permitted Par Prepayment Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid.
   
B. “Prepayment Fee” means an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) one percent (1%) of the unpaid principal balance of the Note as of the Repayment Date.

“Yield Maintenance Amount” means the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Open Prepayment Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date.

“Repayment Date” means the date of a defeasance or prepayment (as applicable) of the loan pursuant to the provisions of Section 2.4 hereof.

“Discount Rate” means the rate which, when compounded monthly, is equivalent to the lesser of (i) the Treasury Rate and (ii) the Swap Rate, each when compounded semi annually.

“Swap Rate” means the yield calculated by the linear interpolation of mid-market swap yields, as reported on Reuters Capital Markets screen 19901 (SEMI-BOND column), with maturities (one longer and one shorter) most nearly approximating the Stated Maturity Date (in the event Reuters Capital Markets screen 19901 is no longer available, Lender will select a comparable publication to determine such yield).

“Treasury Rate” means the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Repayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Open Prepayment Date. (In the event Release H.15 is no longer published, Lender will select a comparable publication to determine the Treasury Rate.)

Prepayment/Repayment Conditions.
(a) On the date on which a prepayment, voluntary or mandatory, is made under the Note or as required under the loan agreement, which date must be a Business Day, Borrower is required to pay to Lender all unpaid interest on the portion of the Outstanding Principal Balance prepaid plus, if the Repayment Date is not a Monthly Payment Date, all interest accruing for the full Interest Period in which the Repayment Date falls. (b) On the Repayment Date, Borrower is required to pay to Lender (i) the Prepayment Fee (if such payment is made prior to the Open Prepayment Date), (ii) in the event the payment occurs on or prior to the Defeasance Lockout Expiration Date, the Liquidated Damages Amount and (iii) all other sums, then due under the Note, the loan agreement, the Mortgage, and the other loan documents. (c) Borrower is required to pay all reasonable out-of-pocket costs and expenses of Lender incurred in connection with the repayment or prepayment (including without limitation, any costs and expenses associated with a release of the Lien of the Mortgage as set forth in Section 2.5 below and reasonable out-of-pocket attorneys’ fees and expenses).
   
C. “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Treasury Rate, each when compounded semi-annually.

“Lockout Expiration Date” shall mean the Monthly Payment Date in February 2022.
   
  

 
“Prepayment Fee” shall mean an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) one percent (1%) of the unpaid principal balance of the Note as of the Repayment Date calculated as if the Maturity Date were the date on which the Open Period commences.

“Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Repayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Open Prepayment Date. (In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.)

“Yield Maintenance Amount” shall mean the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Open Prepayment Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date.

Prepayment/Repayment Conditions.
(a) On the date on which a prepayment, voluntary or mandatory, is made under the Note or as required under this Agreement, which date must be a Business Day, Borrower shall pay to Lender all unpaid interest on the portion of the Outstanding Principal Balance prepaid plus, if the Repayment Date is not a Monthly Payment Date, all interest accruing for the full Interest Period in which the Repayment Date falls. (b) On the Repayment Date, Borrower shall pay to Lender (i) the Prepayment Fee (if such payment is made prior to the Open Prepayment Date and expressly excluding any prepayment made pursuant to Section 2.4.5 above) and (ii) all other sums, then due under the Note, this Agreement, the Mortgage, and the other Loan Documents. (c) Borrower shall pay all reasonable out-of-pocket costs and expenses of Lender incurred in connection with the repayment or prepayment (including without limitation, any out-of-pocket costs and expenses associated with a release of the Lien of the Mortgage as set forth in Section 2.5 below and reasonable attorneys’ fees and expenses).
   
D. “Prepayment Fee” shall mean an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) one percent (1%) of the unpaid principal balance of the Note as of the Repayment Date.“Yield Maintenance Amount” means the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Open Prepayment Date (including any balloon payment), without duplication of accrued interest collected through or on the Repayment Date, determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date. “Discount Rate” means the rate which, when compounded monthly, is equivalent to the Treasury Rate compounded semi-annually. “Treasury Rate” means the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the date that is five (5) Business Days prior to the Repayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Stated Maturity Date. (In the event Release H.15 is no longer published, Lender will select a comparable publication to determine the Treasury Rate.)
   
E. “Yield Maintenance” shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid, and (ii) the present value as of the Prepayment Calculation Date of a series of monthly payments over the remaining term of the Loan through and including the Maturity Date each equal to the amount of interest which would be due on the principal amount of the Loan being prepaid assuming a per annum interest rate equal to the excess of the Interest Rate over the Reinvestment Yield, and discounted at the Reinvestment Yield. As used herein, “Reinvestment Yield” means the yield calculated by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading “U.S. government securities” and the sub-heading “Treasury constant maturities” for the week ending prior to the date of prepayment, of the U.S. Treasury constant maturities with maturity dates (one longer and one equal to or shorter) most nearly approximating the Maturity Date, and converted to a monthly compounded nominal yield. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Reinvestment Yield. The “Prepayment Calculation Date” shall mean, as applicable, the Payment Date on which Lender applies any prepayment to the reduction of the outstanding principal amount of the Note. Lender’s calculation of Yield Maintenance shall be conclusive and binding absent manifest error.
   
F. “Applicable Percentage” shall mean, as applicable, (i) in connection with any prepayment made pursuant to Section 2.7(d) hereof and provided that no Event of Default then exists, 1%, or (ii) in connection with any other prepayment of the Debt, 3%.

“Yield Maintenance Premium” shall mean an amount equal to the greater of the following two amounts: (a) an amount equal to the Applicable Percentage of the amount prepaid; or (b) an amount equal to (i) the amount, if any, by which the sum of the present values as of the prepayment date of all unpaid principal and interest payments required hereunder, calculated by discounting such payments from the respective dates each such payment was due hereunder (or, with respect to the payment required on the Open Period Start Date (assuming the outstanding principal balance of the Loan is due on the Open Period Start Date), from the Open Period Start Date) back to the prepayment date at a discount rate equal to the Periodic Treasury Yield (defined below) exceeds the outstanding principal balance of the Loan as of the prepayment date, multiplied by (ii) a fraction whose numerator is the amount prepaid and whose denominator is the outstanding principal balance of the Loan as of the prepayment date. For purposes of the foregoing, “Periodic Treasury Yield” shall mean (y) the annual yield to maturity of the actively traded non-callable United States Treasury fixed interest rate security (other than any such security
  

  which can be surrendered at the option of the holder at face value in payment of federal estate tax or which was issued at a substantial discount) that has a maturity closest to (whether before, on or after) the Open Period Start Date (or if two or more such securities have maturity dates equally close to the Open Period Start Date, the average annual yield to maturity of all such securities), as reported in The Wall Street Journal or other authoritative publication or news retrieval service on the fifth Business Day preceding the prepayment date, divided by (z) 12. Lender’s calculation of the Yield Maintenance Premium, and all component calculations, shall be conclusive and binding on Borrower absent manifest error.
   
G. "Yield Maintenance" shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid, and (ii) the present value as of the Prepayment Calculation Date of a series of monthly payments over the remaining term of the Loan through and including the Maturity Date each equal to the amount of interest which would be due on the principal amount of the Loan being prepaid assuming a per annum interest rate equal to the excess of the Interest Rate over the Reinvestment Yield, and discounted at the Reinvestment Yield. As used herein, "Reinvestment Yield" means the yield calculated by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading "U.S. government securities" and the sub-heading "Treasury constant maturities" for the week ending prior to the date of prepayment, of the U.S. Treasury constant maturities with maturity dates (one longer and one equal to or shorter) most nearly approximating the Maturity Date, and converted to a monthly compounded nominal yield. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Reinvestment Yield. The "Prepayment Calculation Date" shall mean, as applicable, the Payment Date on which Lender applies any prepayment to the reduction of the outstanding principal amount of the Note. Lender’s calculation of Yield Maintenance shall be conclusive and binding absent manifest error.