UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-D
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the monthly distribution period from:
February 17, 2024 to March 15, 2024
Commission File Number of issuing entity: 333-207132-02
Central Index Key Number of issuing entity: 0001669393
Citigroup Commercial Mortgage Trust 2016-P3
(Exact name of issuing entity as specified in its charter)
Commission File Number of depositor: 333-207132
Central Index Key Number of depositor: 0001258361
Citigroup Commercial Mortgage Securities Inc.
(Exact name of depositor as specified in its charter)
Citigroup Global Markets Realty Corp.
(Central Index Key Number: 0001541001)
Natixis Real Estate Capital LLC
(Central Index Key Number: 0001542256)
Société Générale
(Central Index Key Number: 0001238163)
Macquarie US Trading LLC d/b/a Principal Commercial Capital
(Central Index Key Number: 0001634437)
The Bank of New York Mellon
(Central Index Key Number: 0001497973)
Walker & Dunlop Commercial Property Funding I WF, LLC
(Central Index Key Number: 0001617874)
(Exact names of sponsors as specified in their respective charters)
Richard Simpson (212) 816-5343
(Name and telephone number, including area code, of the person to contact in connection with this filing)
New York
(State or other jurisdiction of incorporation or organization of the issuing entity)
81-2203430
81-2224334
81-6448261
(I.R.S. Employer Identification No.)
| c/o Citibank, N.A. 388 Greenwich Street, 14th Floor New York, New York |
10013 | |
| (Address of principal executive offices of the issuing entity) | (Zip Code) |
(212) 816-5693
(Telephone number, including area code)
| Title of class |
Registered/reporting pursuant to (check one) |
Name of exchange (If Section 12(b)) | ||||||
| Section 12(b) |
Section 12(g) |
Section 15(d) |
||||||
| A-1 |
☐ | ☐ | ☒ | Not Applicable | ||||
| A-2 |
☐ | ☐ | ☒ | Not Applicable | ||||
| A-3 |
☐ | ☐ | ☒ | Not Applicable | ||||
| A-4 |
☐ | ☐ | ☒ | Not Applicable | ||||
| A-AB |
☐ | ☐ | ☒ | Not Applicable | ||||
| X-A |
☐ | ☐ | ☒ | Not Applicable | ||||
| X-B |
☐ | ☐ | ☒ | Not Applicable | ||||
| A-S |
☐ | ☐ | ☒ | Not Applicable | ||||
| B |
☐ | ☐ | ☒ | Not Applicable | ||||
| EC |
☐ | ☐ | ☒ | Not Applicable | ||||
| C |
☐ | ☐ | ☒ | Not Applicable | ||||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
PART I – DISTRIBUTION INFORMATION
Item 1. Distribution and Pool Performance Information.
On March 15, 2024, a distribution was made to holders of the certificates issued by Citigroup Commercial Mortgage Trust 2016-P3.
The distribution report is attached as Exhibit 99.1 to this Form 10-D.
No assets securitized by Citigroup Commercial Mortgage Securities Inc. (the “Depositor”) and held by Citigroup Commercial Mortgage Trust 2016-P3 were the subject of a demand to repurchase or replace for breach of the representations and warranties contained in the underlying transaction documents during the monthly distribution period covered by this distribution report on Form 10-D.
The Depositor most recently filed a Form ABS-15G under Rule 15Ga-1 under the Securities Exchange Act of 1934 (“Rule 15Ga-1”) on February 9, 2024. The CIK number of the Depositor is 0001258361.
Citigroup Global Markets Realty Corp. (“CGMRC”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on February 9, 2024. The CIK number of CGMRC is 0001541001.
Natixis Real Estate Capital LLC (“Natixis”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on February 14, 2024. The CIK number of Natixis is 0001542256.
Société Générale (“SG”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on February 9, 2024. The CIK number of SG is 0001238163.
Macquarie US Trading LLC d/b/a Principal Commercial Capital (“PCC”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on January 30, 2024. The CIK number of PCC is 0001634437.
The Bank of New York Mellon (“BNYM”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on February 23, 2018. The CIK number of BNYM is 0001497973.
Walker & Dunlop Commercial Property Funding I WF, LLC (“Walker & Dunlop”), one of the sponsors, most recently filed a Form ABS-15G under Rule 15Ga-1 on January 19, 2024. The CIK number of Walker & Dunlop is 0001617874.
Item 1A. Asset-Level Information.
Not applicable
Item 1B. Asset Representations Reviewer and Investor Communication.
Not applicable
PART II – OTHER INFORMATION
Item 2. Legal Proceedings.No information to report for the monthly distribution period covered by this distribution report on Form 10-D.
Item 3. Sales of Securities and Use of Proceeds.
None
Item 4. Defaults Upon Senior Securities.
None
Item 5. Submission of Matters to a Vote of Security Holders.
None
Item 6. Significant Obligors of Pool Assets.
With respect to the pool assets for Citigroup Commercial Mortgage Trust 2016-P3, there are no significant obligors within the meaning of Item 1101(k) of Regulation AB.
Item 7. Change in Sponsor Interest in Securities.
None
Item 8. Significant Enhancement Provider Information.
None
Item 9. Other Information.
Wells Fargo Bank, National Association, in its capacity as Master Servicer for Citigroup Commercial Mortgage Trust 2016-P3, affirms the following amounts in the respective accounts:
| Collection Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| Loan Combination Custodial Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| *REO Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| *As provided by the Special Servicer |
||||
Citibank, N.A., in its capacity as Certificate Administrator for Citigroup Commercial Mortgage Trust 2016-P3, affirms the following amounts in the respective accounts:
| Distribution Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| Interest Reserve Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| Excess Interest Distribution Account Balance |
||||
| Prior Distribution Date: |
N/A |
N/A | ||
| Current Distribution Date: |
N/A |
N/A | ||
| Excess Liquidation Proceeds Reserve Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
| Exchangeable Distribution Account Balance |
||||
| Prior Distribution Date: |
02/16/2024 |
$0.00 | ||
| Current Distribution Date: |
03/15/2024 |
$0.00 | ||
Item 10. Exhibits.
(a) The following is a list of documents filed as part of this Form 10-D:
(99.1): Monthly report distributed to holders of the certificates issued by Citigroup Commercial Mortgage Trust 2016-P3, relating to the March 15, 2024 distribution.
(b) The exhibits required to be filed by the Registrant pursuant to this Form 10-D are listed above and in the Exhibit Index that immediately precedes the signature page hereof.
EXHIBIT INDEX
| Exhibit Number | Description | |
| Exhibit 99.1 | Monthly report distributed to holders of the certificates issued by Citigroup Commercial Mortgage Trust 2016-P3, relating to the March 15, 2024 distribution. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Citigroup Commercial Mortgage Securities Inc. |
| (Depositor) |
| /s/ Richard Simpson |
| Richard Simpson, President |
Date: March 29, 2024