Distribution Date:

06/17/25

JPMBB Commercial Mortgage Securities Trust 2014-C21

Determination Date:

06/11/25

 

Next Distribution Date:

07/17/25

 

Record Date:

05/30/25

Commercial Mortgage Pass-Through Certificates

 

 

Series 2014-C21

 

           

Table of Contents

 

 

Contacts

 

 

Section

Pages

Role

Party and Contact Information

 

 

Certificate Distribution Detail

2

Depositor

J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

 

Certificate Factor Detail

3

 

Brian Baker

(212) 834-3813

 

Certificate Interest Reconciliation Detail

4

 

383 Madison Avenue, 8th Floor | New York, NY 10179 | United States

 

 

 

Master Servicer

Trimont LLC

 

 

Exchangeable Certificate Detail

5

 

 

 

 

 

 

 

Attention: CMBS Servicing

 

trimont.commercial.servicing@cms.trimont.com

Additional Information

6

 

 

 

 

 

 

 

550 S. Tryon Street, Suite 2400 | Charlotte, NC 28202 | United States

 

Bond / Collateral Reconciliation - Cash Flows

7

Special Servicer

Rialto Capital Advisors, LLC

 

 

Bond / Collateral Reconciliation - Balances

8

 

Attention: Liat Heller

 

liat.heller@rialtocapital.com

Current Mortgage Loan and Property Stratification

9-13

 

200 S. Biscayne Blvd, Suite 3550 | Miami, FL 33131 | United States

 

 

Mortgage Loan Detail (Part 1)

14

Senior Trust Advisor

Pentalpha Surveillance LLC

 

 

Mortgage Loan Detail (Part 2)

15

 

Attention: JPMBB 2014-C21 Transaction Manager

 

notices@pentalphasurveillance.com

Principal Prepayment Detail

16

 

501 John James Audubon Parkway, Suite 401 | Amherst, NY 14228 | United States

 

Historical Detail

17

Certificate Administrator

Computershare Trust Company, N.A. as agent for Wells Fargo

 

 

 

 

 

Bank, N.A.

 

 

Delinquency Loan Detail

18

 

Corporate Trust Services (CMBS)

 

cctcmbsbondadmin@computershare.com;

Collateral Stratification and Historical Detail

19

 

 

 

trustadministrationgroup@computershare.com

 

 

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

 

Specially Serviced Loan Detail - Part 1

20

 

 

 

 

 

 

Trustee

Wilmington Trust, National Association

 

 

Specially Serviced Loan Detail - Part 2

21

 

Attention: CMBS Trustee

(302) 636-4140

CMBSTrustee@wilmingtontrust.com

Modified Loan Detail

22

 

1100 North Market Street | Wilmington, DE 19890 | United States

 

 

Historical Liquidated Loan Detail

23

 

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

24

 

 

 

 

Interest Shortfall Detail - Collateral Level

25

 

 

 

 

Supplemental Notes

26

 

 

 

 

 

This report is compiled by Computershare Trust Company, N.A. from information provided by third parties. Computershare Trust Company, N.A. has not independently confirmed the accuracy of the information.

Please visit www.ctslink.com for additional information and if applicable, any special notices. In addition, certificate holders may register online for email notification when special notices are posted. For information or assistance please call 866-846-4526.

   

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Page 1 of 26

 


 
 

 

                         

 

 

 

 

Certificate Distribution Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

Original

 

 

Pass-Through

 

 

Principal

Interest

Prepayment

 

 

 

Credit

Credit

Class

CUSIP

Rate (2)

Original Balance                                     Beginning Balance

Distribution

Distribution

Penalties

Realized Losses               Total Distribution             Ending Balance

Support¹         Support¹

 

A-1

46642EAU0

1.322000%

35,720,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-2

46642EAV8

2.891800%

25,518,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-3

46642EAW6

3.435300%

59,360,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-4

46642EAX4

3.492700%

325,000,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-5

46642EAY2

3.774800%

357,185,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-SB

46642EAZ9

3.428200%

82,529,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-S

46642EBC9

3.996500%

69,560,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

24.50%

B

46642EBD7

4.341300%

90,112,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

17.37%

C

46642EBE5

4.710020%

45,846,000.00

17,278,848.07

275,023.89

67,819.77

0.00

0.00

342,843.66

17,003,824.18

89.37%

13.75%

D

46642EAJ5

4.710020%

74,303,000.00

74,303,000.00

0.00

291,640.54

0.00

0.00

291,640.54

74,303,000.00

42.92%

7.88%

E

46642EAL0

3.900000%

25,295,000.00

25,295,000.00

0.00

82,208.75

0.00

0.00

82,208.75

25,295,000.00

27.10%

5.87%

F

46642EAN6

3.900000%

17,390,000.00

17,390,000.00

0.00

29,586.47

0.00

0.00

29,586.47

17,390,000.00

16.23%

4.50%

NR*

46642EAQ9

3.900000%

56,912,885.00

25,965,482.95

0.00

0.00

0.00

0.00

0.00

25,965,482.95

0.00%

0.00%

R

46642EAS5

0.000000%

1.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

0.00%

Regular SubTotal

 

1,264,730,886.00

160,232,331.02

275,023.89

471,255.53

0.00

0.00

746,279.42

159,957,307.13

 

 

 

 

X-A

46642EBA3

4.710020%

954,872,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

 

X-B

46642EBB1

4.710020%

90,112,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

 

X-C

46642EAE6

0.810020%

25,295,000.00

25,295,000.00

0.00

17,074.55

0.00

0.00

17,074.55

25,295,000.00

 

 

X-D

46642EAG1

0.810020%

74,302,885.00

43,355,482.95

0.00

29,265.69

0.00

0.00

29,265.69

43,355,482.95

 

 

Notional SubTotal

 

1,144,581,885.00

68,650,482.95

0.00

46,340.24

0.00

0.00

46,340.24

68,650,482.95

 

 

 

Deal Distribution Total

 

 

 

275,023.89

517,595.77

0.00

0.00

792,619.66

 

 

 

 

*

Denotes the Controlling Class (if required)

 

 

 

 

 

 

 

 

 

 

(1)

Calculated by taking (A) the sum of the ending certificate balance of all classes in a series less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and

 

dividing the result by (A).

 

 

 

 

 

 

 

 

 

 

 

(2)

Pass-Through Rates with respect to any Class of Certificates on next month’s Payment Date is expected to be the same as the current respective Pass-Through Rate, subject to any modifications on the underlying loans, any change in certificate or pool balance, any change in

 

the underlying index (if and as applicable), and any other matters provided in the governing documents.

 

 

 

 

 

 

 

 

 

 

 

 

© 2021 Computershare. All rights reserved. Confidential.

 

 

 

 

 

 

 

Page 2 of 26

 


 
 

 

                     

 

 

 

 

Certificate Factor Detail

 

 

 

 

 

 

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

Interest Shortfalls

Interest

 

 

 

 

Class

CUSIP

Beginning Balance

Principal Distribution

Interest Distribution

/ (Paybacks)

Shortfalls

Prepayment Penalties

Losses

Total Distribution

Ending Balance

Regular Certificates

 

 

 

 

 

 

 

 

 

A-1

46642EAU0

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-2

46642EAV8

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-3

46642EAW6

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-4

46642EAX4

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-5

46642EAY2

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-SB

46642EAZ9

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-S

46642EBC9

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

B

46642EBD7

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

C

46642EBE5

376.88889042

5.99886337

1.47929525

0.00000000

0.00000000

0.00000000

0.00000000

7.47815862

370.89002705

D

46642EAJ5

1,000.00000000

0.00000000

3.92501702

0.00000000

0.00000000

0.00000000

0.00000000

3.92501702

1,000.00000000

E

46642EAL0

1,000.00000000

0.00000000

3.25000000

0.00000000

0.00000000

0.00000000

0.00000000

3.25000000

1,000.00000000

F

46642EAN6

1,000.00000000

0.00000000

1.70134963

1.54865037

5.53712306

0.00000000

0.00000000

1.70134963

1,000.00000000

NR

46642EAQ9

456.23206327

0.00000000

0.00000000

1.48275421

47.22693499

0.00000000

0.00000000

0.00000000

456.23206327

R

46642EAS5

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

 

Notional Certificates

 

 

 

 

 

 

 

 

 

X-A

46642EBA3

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

X-B

46642EBB1

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

X-C

46642EAE6

1,000.00000000

0.00000000

0.67501680

0.00000000

0.00000000

0.00000000

0.00000000

0.67501680

1,000.00000000

X-D

46642EAG1

583.49662937

0.00000000

0.39387017

0.00000000

0.00000000

0.00000000

0.00000000

0.39387017

583.49662937

 

 

 

 

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Page 3 of 26

 


 
 

 

                         

 

 

 

 

Certificate Interest Reconciliation Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

Accrued

Net Aggregate

Distributable

Interest

 

Interest

 

 

 

 

 

Accrual

Prior Interest

Certificate

Prepayment

Certificate

Shortfalls /

Payback of Prior

Distribution

Interest

Cumulative

 

Class

Accrual Period

Days

Shortfalls

Interest

Interest Shortfall

Interest

(Paybacks)

Realized Losses

Amount

Distribution

Interest Shortfalls

 

A-1

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-2

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-3

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-4

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-5

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-SB

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

X-A

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

X-B

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-S

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

B

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

C

05/01/25 - 05/30/25

30

0.00

67,819.77

0.00

67,819.77

0.00

0.00

0.00

67,819.77

0.00

 

X-C

05/01/25 - 05/30/25

30

0.00

17,074.55

0.00

17,074.55

0.00

0.00

0.00

17,074.55

0.00

 

X-D

05/01/25 - 05/30/25

30

0.00

29,265.69

0.00

29,265.69

0.00

0.00

0.00

29,265.69

0.00

 

D

05/01/25 - 05/30/25

30

0.00

291,640.54

0.00

291,640.54

0.00

0.00

0.00

291,640.54

0.00

 

E

05/01/25 - 05/30/25

30

0.00

82,208.75

0.00

82,208.75

0.00

0.00

0.00

82,208.75

0.00

 

F

05/01/25 - 05/30/25

30

69,359.54

56,517.50

0.00

56,517.50

26,931.03

0.00

0.00

29,586.47

96,290.57

 

NR

05/01/25 - 05/30/25

30

2,603,433.30

84,387.82

0.00

84,387.82

84,387.82

0.00

0.00

0.00

2,687,821.12

 

Totals

 

 

2,672,792.84

628,914.62

0.00

628,914.62

111,318.85

0.00

0.00

517,595.77

2,784,111.69

 

 

 

 

 

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Page 4 of 26

 


 
 

 

                       

 

 

 

 

Exchangeable Certificate Detail

 

 

 

 

 

 

 

Pass-Through

 

 

 

 

Prepayment

 

 

 

 

Class

CUSIP

Rate

Original Balance

Beginning Balance                      Principal Distribution           Interest Distribution

Penalties

 

Realized Losses

Total Distribution

Ending Balance

Regular Interest

 

 

 

 

 

 

 

 

 

 

 

A-S (Cert)

46642EBC9

N/A

69,560,000.00

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

A-S (EC)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

B (Cert)

46642EBD7

N/A

90,112,000.00

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

B (EC)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

C (Cert)

46642EBE5

4.710020%

45,846,000.00

17,278,848.07

275,023.89

67,819.77

0.00

 

0.00

342,843.66

17,003,824.18

C (EC)

NA

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

Regular Interest Total

 

 

205,518,000.03

17,278,848.07

275,023.89

67,819.77

0.00

 

0.00

342,843.66

17,003,824.18

 

Exchangeable Certificate Details

 

 

 

 

 

 

 

 

 

 

EC

46642EBF2

N/A

0.01

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

Exchangeable Certificates Total

 

0.01

0.00

0.00

0.00

0.00

 

0.00

0.00

0.00

 

 

 

 

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Page 5 of 26

 


 
 

 

     

 

Additional Information

 

Total Available Distribution Amount (1)

792,619.66

 

(1) The Available Distribution Amount includes any Prepayment Premiums.

 

 

 

 

 

 

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Page 6 of 26

 


 
 

 

       

Bond / Collateral Reconciliation - Cash Flows

 

 

Total Funds Collected

 

Total Funds Distributed

 

Interest

 

Fees

 

Interest Paid or Advanced

631,415.70

Master Servicing Fee

1,395.29

Interest Reductions due to Nonrecoverability Determination

(90,745.78)

Certificate Administrator Fee

286.72

Interest Adjustments

0.00

Trustee Fee

210.00

Deferred Interest

0.00

CREFC® Intellectual Property Royalty License Fee

68.99

ARD Interest

0.00

Senior Trust Advisor Fee

248.36

Net Prepayment Interest Excess / (Shortfall)

0.00

 

 

Extension Interest

0.00

 

 

Interest Reserve Withdrawal

0.00

Total Fees

2,209.36

Total Interest Collected

540,669.92

 

 

 

Principal

 

Expenses/Reimbursements

 

Scheduled Principal

275,023.89

Reimbursement for Interest on Advances

0.00

Unscheduled Principal Collections

 

ASER Amount

0.00

Principal Prepayments

0.00

Special Servicing Fees (Monthly)

20,864.79

Collection of Principal after Maturity Date

0.00

Special Servicing Fees (Liquidation)

0.00

Recoveries From Liquidations and Insurance Proceeds

0.00

Special Servicing Fees (Work Out)

0.00

Excess of Prior Principal Amounts Paid

0.00

Legal Fees

0.00

Curtailments

0.00

Rating Agency Expenses

0.00

Negative Amortization

0.00

Taxes Imposed on Trust Fund

0.00

Principal Adjustments

0.00

Non-Recoverable Advances

0.00

 

 

Workout Delayed Reimbursement Amounts

0.00

 

 

Other Expenses

0.00

Total Principal Collected

275,023.89

Total Expenses/Reimbursements

20,864.79

 

 

 

Interest Reserve Deposit

0.00

 

Other

 

Payments to Certificateholders and Others

 

Prepayment Penalties / Yield Maintenance

0.00

Interest Distribution

517,595.77

Gain on Sale / Excess Liquidation Proceeds

0.00

Principal Distribution

275,023.89

Borrower Option Extension Fees

0.00

Prepayment Penalties / Yield Maintenance

0.00

 

 

Borrower Option Extension Fees

0.00

Total Other Collected

0.00

Total Payments to Certificateholders and Others

792,619.66

Total Funds Collected

815,693.81

Total Funds Distributed

815,693.81

 

 

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Page 7 of 26

 


 
 

 

           

 

 

Bond / Collateral Reconciliation - Balances

 

 

 

 

Collateral Reconciliation

 

Certificate Reconciliation

 

 

 

 

Total

 

Total

Beginning Scheduled Collateral Balance

160,232,331.02

160,232,331.02

Beginning Certificate Balance

160,232,331.02

(-) Scheduled Principal Collections

275,023.89

275,023.89

(-) Principal Distributions

275,023.89

(-) Unscheduled Principal Collections

0.00

0.00

(-) Realized Losses

0.00

(-) Principal Adjustments (Cash)

0.00

0.00

Realized Loss and Realized Loss Adjustments on Collateral

0.00

(-) Principal Adjustments (Non-Cash)

0.00

0.00

Current Period NRA¹

0.00

(-) Realized Losses from Collateral

0.00

0.00

Current Period WODRA¹

0.00

(-) Other Adjustments²

0.00

0.00

Principal Used to Pay Interest

0.00

 

 

 

 

Non-Cash Principal Adjustments

0.00

Ending Scheduled Collateral Balance

159,957,307.13

159,957,307.13

Certificate Other Adjustments**

0.00

Beginning Actual Collateral Balance

161,449,429.11

161,449,429.11

Ending Certificate Balance

159,957,307.13

Ending Actual Collateral Balance

161,144,907.81

161,144,907.81

 

 

 

 

 

 

 

NRA/WODRA Reconciliation

 

Under / Over Collateralization Reconciliation

 

 

 

Non-Recoverable Advances (NRA) from

Workout Delayed Reimbursement of Advances

 

 

 

 

                 Principal

(WODRA) from Principal

Beginning UC / (OC)

0.00

Beginning Cumulative Advances

921,051.83

0.00

UC / (OC) Change

0.00

Current Period Advances

0.00

0.00

Ending UC / (OC)

0.00

Ending Cumulative Advances

921,051.83

0.00

Net WAC Rate

4.71%

 

 

 

 

UC / (OC) Interest

0.00

(1)

Current Period NRA and WODRA displayed will represent the portion applied as Realized Losses to the bonds.

 

 

 

(2)

Other Adjustments value will represent miscellaneous items that may impact the Scheduled Balance of the collateral.

 

 

 

**

A negative value for Certificate Other Adjustments represents the payback of prior Principal Shortfalls, if any.

 

 

 

 

 

 

 

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Page 8 of 26

 


 
 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Scheduled Balance

 

 

 

 

 

Debt Service Coverage Ratio¹

 

 

 

 

Scheduled

# Of

Scheduled

% Of

 

 

Weighted Avg

Debt Service Coverage

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Balance

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Ratio

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

9,999,999 or less

3

21,282,627.38

13.31%

(12)

4.7105

1.046564

1.35 or less

5

96,659,009.84

60.43%

(12)

4.6557

0.340325

10,000,000 to 19,999,999

0

0.00

0.00%

0

0.0000

0.000000

1.36 to 1.45

0

0.00

0.00%

0

0.0000

0.000000

20,000,000 to 24,999,999

1

22,585,124.63

14.12%

(12)

4.6660

0.210000

1.46 to 1.55

0

0.00

0.00%

0

0.0000

0.000000

25,000,000 to 49,999,999

2

58,758,575.01

36.73%

(13)

4.6451

0.324492

1.56 to 1.65

0

0.00

0.00%

0

0.0000

0.000000

 

50,000,000 or greater

1

57,330,980.11

35.84%

(16)

4.4200

3.680000

1.66 to 1.80

0

0.00

0.00%

0

0.0000

0.000000

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

1.81 to 2.00

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

2.01 to 2.25

1

5,967,317.18

3.73%

(13)

4.7850

2.210000

 

 

 

 

 

 

 

 

2.26 to 3.00

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

3.01 or greater

1

57,330,980.11

35.84%

(16)

4.4200

3.680000

 

 

 

 

 

 

 

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is

 

used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 9 of 26

 


 
 

 

                           

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

 

State³

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type³

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

 

 

State

 

 

 

WAM²

WAC

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

Property Type

 

 

 

WAM²

WAC

 

 

 

 

 

 

 

 

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

 

California

1

29,873,225.39

18.68%

(14)

4.6500

(0.290000)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mixed Use

1

6,508,512.30

4.07%

(12)

4.6050

0.530000

Florida

1

57,330,980.11

35.84%

(16)

4.4200

3.680000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office

4

66,244,589.33

41.41%

(12)

4.6750

0.774357

Illinois

1

22,585,124.63

14.12%

(12)

4.6660

0.210000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

2

87,204,205.50

54.52%

(15)

4.4988

2.320012

Michigan

1

5,967,317.18

3.73%

(13)

4.7850

2.210000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

North Dakota

1

8,806,797.90

5.51%

(11)

4.7380

0.640000

 

 

 

 

 

 

 

 

Texas

2

35,393,861.92

22.13%

(11)

4.6336

0.880928

 

 

 

 

 

 

 

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

 

 

 

 

 

 

 

 

 

Note: Please refer to footnotes on the next page of the report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 10 of 26

 


 
 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Note Rate

 

 

 

 

 

Seasoning

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Note Rate

 

 

 

WAM²

WAC

 

Seasoning

 

 

 

WAM²

WAC

 

 

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

4.40000% or less

0

0.00

0.00%

0

0.0000

0.000000

12 months or less

0

0.00

0.00%

0

0.0000

0.000000

 

4.40001% to 4.60000%

1

57,330,980.11

35.84%

(16)

4.4200

3.680000

13 to 24 months

0

0.00

0.00%

0

0.0000

0.000000

 

4.60001% to 4.80000%

6

102,626,327.02

64.16%

(12)

4.6633

0.449039

25 to 36 months

0

0.00

0.00%

0

0.0000

0.000000

 

4.80001% to 5.00000%

0

0.00

0.00%

0

0.0000

0.000000

37 to 48 months

0

0.00

0.00%

0

0.0000

0.000000

 

5.00001% or greater

0

0.00

0.00%

0

0.0000

0.000000

49 months or greater

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 11 of 26

 


 
 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

Anticipated Remaining Term (ARD and Balloon Loans)

 

 

 

Remaining Amortization Term (ARD and Balloon Loans)

 

 

 

Anticipated

# Of

Scheduled

% Of

 

 

Weighted Avg

Remaining

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Remaining Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Amortization Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

60 months or less

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

Interest Only

1

57,330,980.11

35.84%

(16)

4.4200

3.680000

61 months to 120 months

0

0.00

0.00%

0

0.0000

0.000000

300 months or less

6

102,626,327.02

64.16%

(12)

4.6633

0.449039

 

121 months or greater

0

0.00

0.00%

0

0.0000

0.000000

301 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 12 of 26

 


 
 

 

                         

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

Age of Most Recent NOI

 

 

 

 

Remaining Stated Term (Fully Amortizing Loans)

 

 

Age of Most

# Of

Scheduled

% Of

 

 

Weighted Avg

Age of Most

# Of

Scheduled

% Of

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

WAM²

WAC

 

Recent NOI

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Recent NOI

Loans

Balance

Agg. Bal.

DSCR¹

 

12 months or less

6

137,372,182.50

85.88%

(14)

4.5613

1.836750

 

 

No outstanding loans in this group

 

 

13 to 24 months

1

22,585,124.63

14.12%

(12)

4.6660

0.210000

 

 

 

 

 

 

25 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

Totals

7

159,957,307.13

100.00%

(14)

4.5761

1.607061

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

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Page 13 of 26

 


 
 

 

                               

 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

Original

Adjusted

Beginning

Ending

Paid

 

 

Prop

 

 

Accrual

Gross

Scheduled

Scheduled

Principal

Anticipated                 Maturity

Maturity

Scheduled

Scheduled

Through

Pros ID

Loan ID

Type

  City

State

Type

Rate

Interest

Principal

Adjustments        Repay Date

Date

Date

Balance

Balance

Date

3

302201003

RT

Miami

FL

Actual/360

4.420%

218,208.08

0.00

0.00

N/A

02/06/24

--

57,330,980.11

57,330,980.11

05/06/25

6

302051011

RT

Westminster

CA

Actual/360

4.650%

120,271.37

163,328.87

0.00

N/A

04/01/24

--

30,036,554.26

29,873,225.39

05/01/25

13

883100253

OF

Dallas

TX

Actual/360

4.640%

115,660.85

62,027.13

0.00

N/A

07/06/24

--

28,947,376.75

28,885,349.62

03/06/25

18

302051006

OF

Chicago

IL

Actual/360

4.666%

0.00

0.00

0.00

N/A

06/01/24

--

22,585,124.63

22,585,124.63

12/01/23

28

695100305

OF

Fargo

ND

Actual/360

4.738%

36,020.20

21,802.39

0.00

N/A

07/06/24

--

8,828,600.29

8,806,797.90

03/06/25

42

623100102

MU

San Antonio

TX

Actual/360

4.605%

25,865.05

14,144.52

0.00

N/A

06/06/24

--

6,522,656.82

6,508,512.30

05/06/24

44

695100288

OF

Farmington Hills

MI

Actual/360

4.785%

24,644.37

13,720.98

0.00

05/06/24

05/06/26

--

5,981,038.16

5,967,317.18

06/06/25

Totals

 

 

 

 

 

 

540,669.92

275,023.89

0.00

 

 

 

160,232,331.02

159,957,307.13

 

1 Property Type Codes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HC - Health Care

MU - Mixed Use

WH - Warehouse

MF - Multi-Family

 

 

 

 

 

 

 

 

SS - Self Storage

LO - Lodging

RT - Retail

 

SF - Single Family Rental

 

 

 

 

 

 

 

 

98 - Other

 

IN - Industrial

OF - Office

 

MH - Mobile Home Park

 

 

 

 

 

 

 

 

SE - Securities

CH - Cooperative Housing

ZZ - Missing Information/Undefined

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 14 of 26

 


 
 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

 

 

 

    Most Recent          Most Recent         Appraisal

 

 

 

 

Cumulative

Current

 

 

 

Most Recent

Most Recent

   NOI Start

NOI End

Reduction

Appraisal

Cumulative

Current P&I

Cumulative P&I

Servicer

NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

    Date

Date

Date

Reduction Amount

ASER

Advances

Advances

Advances

from Principal

Defease Status

 

3

16,547,516.00

0.00

--

--

08/12/24

5,912,615.83

0.00

217,961.24

217,961.24

0.00

0.00

 

 

6

(1,290,913.00)

0.00

--

--

08/12/24

0.00

0.00

283,470.92

283,470.92

0.00

0.00

 

 

13

2,431,086.02

1,589,701.60

01/01/24

09/30/24

--

0.00

0.00

176,975.07

531,210.42

0.00

0.00

 

 

18

1,796,367.71

0.00

--

--

--

0.00

0.00

(361.74)

1,030,887.07

0.00

0.00

 

 

28

651,969.86

352,747.66

01/01/24

09/30/24

--

0.00

0.00

57,453.11

172,449.90

0.00

0.00

 

 

42

806,896.63

266,656.00

01/01/24

09/30/24

10/11/24

0.00

0.00

39,961.27

519,760.89

0.00

0.00

 

 

44

1,030,271.06

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

Totals

21,973,194.28

2,209,105.26

 

 

 

5,912,615.83

0.00

775,459.87

2,755,740.44

0.00

0.00

 

 

 

 

 

 

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Page 15 of 26

 


 
 

 

           

 

 

 

Principal Prepayment Detail

 

 

 

 

 

Unscheduled Principal

Prepayment Penalties

Pros ID

Loan Number

Amount

Prepayment / Liquidation Code

Prepayment Premium Amount

Yield Maintenance Amount

 

 

 

No principal prepayments this period

 

 

Note: Principal Prepayment Amount listed here may include Principal Adjustment Amounts on the loan in addition to the Unscheduled Principal Amount.

 

 

 

 

 

 

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Page 16 of 26

 


 
 

 

                                         

 

 

 

 

 

 

 

 

Historical Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delinquencies¹

 

 

 

 

 

Prepayments

 

 

Rate and Maturities

 

 

30-59 Days

 

60-89 Days

 

90 Days or More

 

Foreclosure

 

REO

 

Modifications

 

Curtailments

 

Payoff

 

Next Weighted Avg.

 

Distribution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

       Balance

#

       Balance

#

     Balance

#

      Balance

#

      Balance

#

    Balance

#

Amount

#

Amount

 

Coupon

Remit

WAM¹

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

06/17/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

4.576068%

4.406872%

(14)

05/16/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

778.19

0

0.00

 

4.576211%

4.406866%

(13)

04/17/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

31,278.72

0

0.00

 

4.576357%

4.406859%

(12)

03/17/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

1,331,451.93

0

0.00

 

4.576467%

4.406853%

(11)

02/18/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

4.575366%

4.406863%

(10)

01/17/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

30,720,789.74

2

13,093,459.20

0

0.00

 

4.575536%

4.406851%

(9)

12/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

33,552.32

0

0.00

 

4.581074%

4.405539%

(8)

11/18/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

13,116.45

0

0.00

 

4.581167%

4.405539%

(7)

10/18/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

81,695.67

0

0.00

 

4.581271%

4.405538%

(6)

09/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

45,037.28

0

0.00

 

4.581318%

4.405538%

(5)

08/16/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

28,622.38

0

0.00

 

4.581391%

4.405538%

(4)

07/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

1

45,055.31

0

0.00

 

4.592816%

4.421817%

(3)

Note: Foreclosure and REO Totals are included in the delinquencies aging categories.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 17 of 26

 


 
 

 

                               

 

 

 

 

 

 

Delinquency Loan Detail

 

 

 

 

 

 

 

 

Paid

 

Mortgage

 

 

     Outstanding

 

Servicing

Resolution

 

 

 

 

 

 

Through

Months

Loan

 

Current P&I

Outstanding P&I

    Servicer

Actual Principal

Transfer

Strategy

Bankruptcy

Foreclosure

 

Pros ID

Loan ID

Date

Delinquent

Status¹

Advances

Advances

     Advances

Balance

Date

Code²

 

Date

Date

REO Date

3

302201003

05/06/25

0

5

 

217,961.24

217,961.24

0.00

57,330,980.11

02/01/24

9

 

 

 

 

6

302051011

05/01/25

0

5

 

283,470.92

283,470.92

49,931.23

30,036,554.26

02/27/24

4

 

 

 

 

13

883100253

03/06/25

2

5

 

176,975.07

531,210.42

10,092.09

29,074,401.18

04/19/24

13

 

 

 

 

18

302051006

12/01/23

17

5

 

(361.74)

1,030,887.07

0.00

23,168,741.05

02/02/24

13

 

 

 

 

28

695100305

03/06/25

2

5

 

57,453.11

172,449.90

15,841.97

8,873,095.16

05/17/24

13

 

 

 

 

42

623100102

05/06/24

12

5

 

39,961.27

519,760.89

8,155.50

6,693,818.87

03/15/24

13

 

 

 

 

Totals

 

 

 

 

 

775,459.87

2,755,740.44

84,020.79

155,177,590.63

 

 

 

 

 

 

1 Mortgage Loan Status

 

 

 

 

 

 

2 Resolution Strategy Code

 

 

 

 

 

 

A - Payment Not Received But Still in Grace Period 0 - Current

 

4 - Performing Matured Balloon

 

1 - Modification

6 - DPO

 

 

10 - Deed in Lieu of Foreclosures

B - Late Payment But Less Than 30 days

1 - 30-59 Days Delinquent

5 - Non Performing Matured Balloon

2 - Foreclosure

7 - REO

 

 

11- Full Payoff

 

Delinquent

 

 

 

 

 

 

 

3 - Bankruptcy

8 - Resolved

 

 

12 - Reps and Warranties

 

 

 

2 - 60-89 Days Delinquent

6 - 121+ Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 - Extension

9 - Pending Return to Master Servicer

13 -

TBD

 

 

 

 

3 - 90-120 Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5 - Note Sale

98 - Other

 

 

 

 

 

 

 

 

 

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Page 18 of 26

 


 
 

 

                 

 

 

 

 

Collateral Stratification and Historical Detail

 

Maturity Dates and Loan Status¹

 

 

 

 

 

 

 

 

 

        Total

         Performing

Non-Performing

               REO/Foreclosure

 

 

Past Maturity

 

153,989,990

0

       153,989,990

 

0

 

0 - 6 Months

 

0

0

0

 

 

0

 

7 - 12 Months

 

5,967,317

5,967,317

0

 

 

0

 

13 - 24 Months

 

0

0

0

 

 

0

 

25 - 36 Months

 

0

0

0

 

 

0

 

37 - 48 Months

 

0

0

0

 

 

0

 

49 - 60 Months

 

0

0

0

 

 

0

 

> 60 Months

 

0

0

0

 

 

0

 

 

 

 

 

Historical Delinquency Information

 

 

 

 

 

 

 

 

Total

Current

30-59 Days

60-89 Days

90+ Days

REO/Foreclosure

 

 

Jun-25

159,957,307

93,171,523

0

37,692,148

29,093,637

0

 

May-25

160,232,331

36,017,592

57,330,980

0

66,883,758

0

 

Apr-25

160,517,431

36,198,614

0

57,331,758

66,987,059

0

 

Mar-25

160,821,499

6,009,102

0

0

154,812,397

0

 

Feb-25

162,503,077

36,563,328

0

0

125,939,749

0

 

Jan-25

162,833,455

6,038,528

0

0

156,794,927

0

 

Dec-24

176,182,297

49,880,849

0

0

126,301,448

0

 

Nov-24

176,485,385

79,341,248

0

0

97,144,138

0

 

Oct-24

176,751,785

50,128,884

0

0

126,622,901

0

 

Sep-24

177,100,994

50,255,424

0

0

126,845,570

0

 

Aug-24

177,397,232

50,374,970

0

0

127,022,262

0

 

Jul-24

183,162,043

50,494,038

0

0

132,668,006

0

 

(1) Maturity dates used in this chart are based on the dates provided by the Master Servicer in the Loan Periodic File.

 

 

 

 

 

 

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Page 19 of 26

 


 
 

 

                     

 

 

 

Specially Serviced Loan Detail - Part 1

 

 

 

 

 

 

Ending Scheduled

 

 

 

Net Operating

 

 

 

Remaining

Pros ID

Loan ID

Balance

Actual Balance

Appraisal Value

Appraisal Date

Income

DSCR

DSCR Date

Maturity Date

Amort Term

3

302201003

57,330,980.11

57,330,980.11

159,000,000.00

07/02/24

16,498,341.00

3.68000

12/31/24

02/06/24

I/O

6

302051011

29,873,225.39

30,036,554.26

104,000,000.00

04/27/24

(1,532,292.00)

(0.29000)

12/31/24

04/01/24

225

13

883100253

28,885,349.62

29,074,401.18

27,460,000.00

10/02/24

1,533,750.00

0.96000

09/30/24

07/06/24

228

18

302051006

22,585,124.63

23,168,741.05

101,000,000.00

04/16/14

975,896.71

0.21000

12/31/23

06/01/24

228

28

695100305

8,806,797.90

8,873,095.16

12,220,000.00

07/26/24

334,832.56

0.64000

09/30/24

07/06/24

228

42

623100102

6,508,512.30

6,693,818.87

10,400,000.00

05/15/24

254,660.00

0.53000

09/30/24

06/06/24

228

Totals

 

153,989,989.95

155,177,590.63

414,080,000.00

 

18,065,188.27

 

 

 

 

 

 

 

 

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Page 20 of 26

 


 
 

 

                 

 

 

 

 

 

Specially Serviced Loan Detail - Part 2

 

 

 

 

 

 

Servicing

 

 

 

 

 

 

Property

 

Transfer

Resolution

 

 

 

Pros ID

Loan ID

Type¹

State

Date

Strategy Code²

 

Special Servicing Comments

 

3

302201003

RT

FL

02/01/24

9

 

 

 

 

The loan matured on 2/6/2024. Lender and Borrower have executed a forbearance for 1 year to 2/6/2025 with one 12 month option to 2/6/2026. The Borrower has elected to exercise the 12 month option. The forbearance involves Borrower

 

contributing additional equity to deleverage the loan. Initial $2,000,000 loan pay down and $3,000,000 pay down upon additional 12 month option. The Loan will remain in full cash sweep during the entire forbearance period with excess cash

 

being deposited in a 50/50 split betwe en a newly created Lender held Omnibus Reserve and hyper amortizing the entire outstanding principal balance. In addition, Guarantor and Borrower provided cooperation covenants in which they will

 

cooperate, in the event of a future default, with a deed -in-lieu, stipulated foreclosure and/or receiver. Loan will be subject to reduced default interest of 2.5% for first 12 months of forbearance. Upon exercising 12 month extension option, reduced

 

default interest will increase to 3.5%. Collateral is 307k SF of a 1.09MM SF super regional mall located 12 miles northwest of downtown Miami. Non-collateral anchors include Macy's, JCPenney, Sears (vacant), and Kohl's. Loan will remain in

 

rehab until pay off.

 

 

 

 

 

 

 

6

302051011

RT

CA

02/27/24

4

 

 

 

 

6/2/2025 - The loan transferred to Special Servicing on 2/27/2024 for imminent maturity default. The loan matured on 4/1/2024. The Special Servicer finalized a forbearance agreement with the Borrower forbearing the loan to 1/1/2026 to provide

 

the Borrowe r more time to pay the loan off in full. The Forbearance agreement included a 30% paydown of the UPB. Originally the property was under contract to be sold but as of February of 2025 both the Borrower and Buying party did not

 

renew the PSA extension. The Borrower is still determining the most efficient and effective path to resolution but remains confident that they will fully satisfy the Borrower's obligations under the Loan prior to the expiration of the Forbearance

 

Period. The loan is in a lockbox and the Special Servicer is making P&I payments and paying down advances each month. The Borrower continues to cover any OPEX shortfalls. The Subject Property is a 771,844 square foot enclosed shopping

 

complex located in Westminster, CA within the Los-Angeles MSA.

 

 

 

 

13

883100253

OF

TX

04/19/24

13

 

 

 

 

Collateral is14 floors (280k SF) of an office condominium located in Downtown Dallas, TX. The whole Property totals 30 floors (651k SF), with the additional SF being floors 15-30, made up of 276 luxury multifamily units. Borrower requested a 2-

 

year extens ion from previous Special Servicer (Midland). Loan experienced a $1.7M drop in NOI from YE 2023 to Q1 2024 resulting from Greyhound Lines, Inc (97k SF, LXD 12/2029) having terminated their lease. This resulted in occupancy

 

declining from 100% to 65%. Bor rower indicated it cannot provide new equity and has requested a deed in lieu. The Lender is dual tracking with the foreclosure process and preparing to take title.

 

 

18

302051006

OF

IL

02/02/24

13

 

 

 

 

The subject property is a 29-story multi-tenant office building built in 1973 and located in the Chicago CBD. KeyBank replaced Torchlight as Special Servicer on 6/4/2024. KeyBank has engaged with the Borrower and are working on a mutually

 

agreeable reso lution. A receiver was placed at the property to take over operations in January of 2025.

 

 

 

 

 

28

695100305

OF

ND

05/17/24

13

 

 

 

 

Loan transferred to SS on 1/29/2025 due to maturity default. PNL has been executed. Maturity default notice has been sent to the borrower. Borrower will consent to the appointment of a receiver. SS is evaluating next steps.

 

 

 

42

623100102

MU

TX

03/15/24

13

 

 

 

 

Subject Property is comprised of a 30,907 SF retail center and a two-story, 29,072 SF office building located in the commercial area of San Antonio, TX. Good access location at a major intersection and just south of the Interstate, but with poor

 

visibility due to non-collateral out-parcels. Sponsor/Guarantor: Frank Kudla, Jr & Daniel Jacob Jr. Transferred to SS as a result of imminent monetary default. The default was precipitated by the departure of the single whole-building tenant of

 

the office building. The retail center component is stable. Borrower is actively marketing the property to fill the office vacancy. Borrower is represented by Hart Advisors. Have entered into PNAs with sponsors and a Joinder to Hart Advisors.

 

They have submitted a proposal for a 2-year forbearance modification and we have countered. Borrower also looking at proposing a DPO and has sought a BOV in that context. We countered borrower's DPO proposal and countered. Awaiting

 

sponsors' response.

 

 

 

 

 

 

1 Property Type Codes

 

 

 

 

2 Resolution Strategy Code

 

 

HC - Health Care

 

MU - Mixed Use

WH - Warehouse

1 - Modification

6 - DPO

10 - Deed in Lieu of Foreclosures

MF - Multi-Family

 

SS - Self Storage

LO - Lodging

2 - Foreclosure

7 - REO

11- Full Payoff

RT - Retail

 

SF - Single Family Rental

98 - Other

3 - Bankruptcy

8 - Resolved

12 - Reps and Warranties

IN - Industrial

 

OF - Office

MH - Mobile Home Park

4 - Extension

9 - Pending Return to Master Servicer

13 - TBD

SE - Securities

 

CH - Cooperative Housing

ZZ - Missing Information/Undefined

5 - Note Sale

98 - Other

 

 

 

 

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Page 21 of 26

 


 
 

 

                   

 

 

 

 

Modified Loan Detail

 

 

 

 

 

 

Pre-Modification

Post-Modification

 

 

Modification

Modification

 

 

 

 

 

 

Modification

Modification Booking

Closing

Effective

 

 

      Balance

Rate

      Balance

Rate

 

 

 

 

Pros ID

Loan Number

 

 

 

 

Code¹

Date

Date

Date

6

302051011

49,139,388.35

4.65000%

49,139,388.35                    4.65000%

10

06/09/20

06/01/20

08/11/20

Totals

 

49,139,388.35

 

49,139,388.35

 

 

 

 

1 Modification Codes

 

 

 

 

 

 

 

 

 

1 - Maturity Date Extension

5 - Temporary Rate Reduction

8 - Other

 

 

 

 

 

 

2 - Amortization Change

6 - Capitalization on Interest

9 - Combination

 

 

 

 

 

 

3 - Principal Write-Off

7 - Capitalization on Taxes

10 - Forbearance

 

 

 

 

 

 

 

Note: Please refer to Servicer Reports for modification comments.

 

 

 

 

 

 

 

 

 

 

 

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Page 22 of 26

 


 
 

 

                           

 

 

 

 

 

Historical Liquidated Loan Detail

 

 

 

 

 

 

 

 

Loan

 

Gross Sales

 

 

 

 

Current

 

Loss to Loan

Percent of

 

 

 

Beginning

Most Recent

Proceeds or

Fees,

Net Proceeds

Net Proceeds

 

Period

Cumulative

with

Original

 

Loan

 

Scheduled

Appraised

Other

Advances,

Received on

Available for

Realized Loss

Adjustment to

Adjustment to

Cumulative

Loan

Pros ID¹

Number

Dist.Date

Balance

Value or BPO

Proceeds

and Expenses

Liquidation

Distribution

to Loan

Loan

Loan

Adjustment

Balance

1

302201001

06/17/24

103,500,000.00

146,100,000.00

104,662,868.20

1,055,833.83

104,662,868.20

103,607,034.37

0.00

0.00

0.00

0.00

0.00%

16

302201016

10/17/22

25,377,768.71

7,500,000.00

12,851,488.69

3,195,096.84

12,851,488.69

9,656,391.85

15,721,376.86

0.00

0.00

15,721,376.86

52.40%

35

302201035

11/17/17

6,893,776.59

3,000,000.00

3,130,659.38

69,160.51

3,130,659.38

3,061,498.87

3,832,277.72

0.00

0.00

3,832,277.72

42.22%

40

883100212

04/17/18

7,518,024.01

6,000,000.00

4,092,716.15

486,845.25

4,092,716.15

3,605,870.90

3,912,153.11

0.00

174,415.31

3,737,737.80

46.72%

46

623100113

07/16/21

6,003,368.13

4,550,000.00

4,091,729.46

705,609.92

4,091,729.46

3,386,119.54

2,617,248.59

0.00

191,921.54

2,425,327.05

35.14%

47

623100099

05/17/18

6,512,854.32

5,700,000.00

4,628,907.24

1,111,332.14

4,628,907.24

3,517,575.10

2,995,279.22

0.00

35,185.04

2,960,094.18

42.89%

59

695100297

09/17/21

4,268,327.94

3,700,000.00

3,187,900.01

282,920.68

3,187,900.01

2,904,979.33

1,363,348.61

0.00

15,730.14

1,347,618.47

27.78%

65

623100106

06/17/21

3,763,557.18

5,020,000.00

5,534,710.98

440,239.39

5,534,710.98

5,094,471.59

0.00

0.00

(1,918.50)

1,918.50

0.04%

Current Period Totals

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

Cumulative Totals

163,837,676.88

181,570,000.00

142,180,980.11

7,347,038.56

142,180,980.11

134,833,941.55

30,441,684.11

0.00

415,333.53

30,026,350.58

 

 

Note: Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).

 

 

 

 

 

 

 

 

 

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Page 23 of 26

 


 
 

 

                       

 

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

 

 

 

 

 

 

Certificate

Reimb of Prior

 

 

 

 

 

 

 

 

 

 

Interest Paid

Realized Losses

 

Loss Covered by

 

 

 

 

Total Loss

 

 

 

from Collateral

from Collateral

Aggregate

Credit

Loss Applied to

Loss Applied to

Non-Cash

Realized Losses

Applied to

 

Loan

Distribution

Principal

Interest

Realized Loss to

Support/Deal

Certificate

Certificate

Principal

from

Certificate

Pros ID

Number

Date

Collections

Collections

Loan

Structure

Interest Payment

Balance

Adjustment

NRA/WODRA

Balance

1

302201001

06/17/24

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

16

302201016

10/17/22

0.00

0.00

15,721,376.86

0.00

0.00

15,721,376.86

0.00

0.00

15,721,376.86

35

302201035

11/17/17

0.00

0.00

3,832,277.72

0.00

0.00

3,832,277.72

0.00

0.00

3,832,277.72

40

883100212

11/19/18

0.00

0.00

3,737,737.80

0.00

0.00

(174,415.31)

0.00

0.00

3,737,737.80

 

 

04/17/18

0.00

0.00

3,912,153.11

0.00

0.00

3,912,153.11

0.00

0.00

 

46

623100113

02/17/23

0.00

0.00

2,425,327.05

0.00

0.00

(653.25)

0.00

0.00

2,425,327.05

 

 

10/17/22

0.00

0.00

2,425,980.30

0.00

0.00

3,367.98

0.00

0.00

 

 

 

06/17/22

0.00

0.00

2,422,612.32

0.00

0.00

(194,636.27)

0.00

0.00

 

 

 

07/16/21

0.00

0.00

2,617,248.59

0.00

0.00

2,617,248.59

0.00

0.00

 

47

623100099

10/18/19

0.00

0.00

2,960,094.18

0.00

0.00

5.00

0.00

0.00

2,960,094.18

 

 

06/17/19

0.00

0.00

2,960,089.18

0.00

0.00

83.48

0.00

0.00

 

 

 

04/17/19

0.00

0.00

2,960,005.70

0.00

0.00

76.76

0.00

0.00

 

 

 

07/17/18

0.00

0.00

2,959,928.94

0.00

0.00

(35,350.28)

0.00

0.00

 

 

 

05/17/18

0.00

0.00

2,995,279.22

0.00

0.00

2,995,279.22

0.00

0.00

 

59

695100297

11/18/22

0.00

0.00

1,347,618.47

0.00

0.00

(15,780.11)

0.00

0.00

1,347,618.47

 

 

12/17/21

0.00

0.00

1,363,398.58

0.00

0.00

49.97

0.00

0.00

 

 

 

09/17/21

0.00

0.00

1,363,348.61

0.00

0.00

1,363,348.61

0.00

0.00

 

65

623100106

10/17/22

0.00

0.00

1,918.50

0.00

0.00

425.00

0.00

0.00

1,918.50

 

 

06/25/21

0.00

0.00

0.00

0.00

0.00

1,493.50

0.00

0.00

 

Current Period Totals

 

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Cumulative Totals

 

0.00

0.00

30,026,350.58

0.00

0.00

30,026,350.58

0.00

0.00

30,026,350.58

 

 

 

 

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Page 24 of 26

 


 
 

 

                         

 

 

 

Interest Shortfall Detail - Collateral Level

 

 

 

 

 

 

 

 

Special Servicing Fees

 

 

 

 

 

 

 

Modified

 

 

Deferred

 

 

 

 

 

Non-

 

Reimbursement of

Other

Interest

 

Interest

Interest

 

 

 

 

 

Recoverable

Interest on

Advances from

Shortfalls /

Reduction /

Pros ID

Adjustments

Collected

Monthly

Liquidation

Work Out

ASER

PPIS / (PPIE)

Interest

Advances

Interest

(Refunds)

(Excess)

6

0.00

0.00

6,466.20

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

13

0.00

0.00

6,231.73

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

18

0.00

0.00

4,862.08

0.00

0.00

0.00

0.00

90,745.78

0.00

0.00

0.00

0.00

28

0.00

0.00

1,900.60

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

42

0.00

0.00

1,404.18

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Total

0.00

0.00

20,864.79

0.00

0.00

0.00

0.00

90,745.78

0.00

0.00

0.00

0.00

Note: Interest Adjustments listed for each loan do not include amounts that were used to adjust the Weighted Average Net Rate of the mortgage loans.

 

 

Collateral Shortfall Total

111,610.57

 

 

 

 

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Page 25 of 26

 


 
 

 

     

 

Supplemental Notes

 

 

None

 

 

 

 

 

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Page 26 of 26