Benchmark 2023-B40 Mortgage Trust: loan annex
Page built October 19, 2026
Loan detail for Benchmark 2023-B40 Mortgage Trust.
Data as of loan data through September 2026; ratings as held in the dataset at 2026-10-01
← Benchmark 2023-B40 Mortgage Trust · CMBS market
Detail sections for the 8 loans of this deal that do not have a page of their own. Loans with a surveillance history, loans at or above the section's size threshold of $25.0M, and the largest loans in the deal have their own pages, linked from the loan table on the deal page. Every loan in the deal appears either here or on its own page.
Outlet Shoppes at Atlanta
| Property | Outlet Shoppes at Atlanta |
| Address | 915 Ridgewalk Parkway; Woodstock, GA 30188 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 405,146 |
| Year built | 2012 |
| Year last renovated | not yet reported |
| Original balance | $20.0M |
| Current balance | $20.0M (September 2026) |
| Share of deal balance | 4.2% |
| Interest rate at origination | 7.85% |
| Current interest rate | 7.85% |
| Origination date | 10-03-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-10-06 |
| Prepayment lockout end | 04-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 03-31-2026 |
| Revenue | $4.2M |
| Operating expenses | $1.2M |
| Net operating income | $3.0M |
| Net cash flow | $2.9M |
| DSCR (net cash flow) | 1.81 |
| DSCR (net operating income) | 1.92 |
| Occupancy | 94% |
| Servicer advances outstanding | $0 |
1700 Fostoria Ave (and 1 more properties)
| Property | 1700 Fostoria Ave (and 1 more properties) |
| Address | 1700 Fostoria Avenue; 2000 Industrial Drive; Findlay, OH (and 1 more) 45840 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | 1985 |
| Original balance | $15.4M |
| Current balance | $15.4M (September 2026) |
| Share of deal balance | 3.3% |
| Interest rate at origination | 7.16% |
| Current interest rate | 7.16% |
| Origination date | 11-01-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-11-06 |
| Prepayment lockout end | 07-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $2.4M |
| Operating expenses | $31,826 |
| Net operating income | $2.4M |
| Net cash flow | $2.3M |
| DSCR (net cash flow) | 2.02 |
| DSCR (net operating income) | 2.15 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
1220 Echelon Parkway
| Property | 1220 Echelon Parkway |
| Address | 1220 Echelon Parkway; Jackson, MS 39213 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 109,819 |
| Year built | 2009 |
| Year last renovated | not yet reported |
| Original balance | $14.9M |
| Current balance | $14.9M (September 2026) |
| Share of deal balance | 3.2% |
| Interest rate at origination | 7.72% |
| Current interest rate | 7.72% |
| Origination date | 08-08-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-09-01 |
| Prepayment lockout end | 09-30-2025 |
| Yield maintenance end | 02-28-2033 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | JPMorgan Chase Bank, National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
Connolly's Restaurant Portfolio (and 2 more properties)
| Property | Connolly's Restaurant Portfolio (and 2 more properties) |
| Address | 121 West 45th Street; 123 W 45th Street; 203 East 45th Street; New York, NY (and 2 more) 10036 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2020", "2006", "2012"] |
| Original balance | $13.5M |
| Current balance | $13.5M (September 2026) |
| Share of deal balance | 2.9% |
| Interest rate at origination | 7.08% |
| Current interest rate | 7.08% |
| Origination date | 09-13-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-10-01 |
| Prepayment lockout end | 07-31-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | JPMorgan Chase Bank, National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | ["06-30-2026", "06-30-2026", "06-30-2026"] |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
Best Storage Tudor Road
| Property | Best Storage Tudor Road |
| Address | 3521 East Tudor Road 4303 Florina Street; Anchorage, AK 99507 |
| Property type | Self storage |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 79,917 |
| Year built | 1998 |
| Year last renovated | 2007 |
| Original balance | $12.5M |
| Current balance | $12.5M (September 2026) |
| Share of deal balance | 2.6% |
| Interest rate at origination | 6.91% |
| Current interest rate | 6.91% |
| Origination date | 09-01-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-09-06 |
| Prepayment lockout end | 07-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Change from securitization to the most recent reported valuation: 0.0%.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $2.3M |
| Operating expenses | $616,924 |
| Net operating income | $1.7M |
| Net cash flow | $1.7M |
| DSCR (net cash flow) | 1.91 |
| DSCR (net operating income) | 1.92 |
| Occupancy | 98% |
| Servicer advances outstanding | $0 |
406 15th Street
| Property | 406 15th Street |
| Address | 406 15th Street; Brooklyn, NY 11215 |
| Property type | Mixed use |
| Units, beds or keys | 27 |
| Net rentable square feet | not yet reported |
| Year built | 2009 |
| Year last renovated | not yet reported |
| Original balance | $12.2M |
| Current balance | $11.9M (September 2026) |
| Share of deal balance | 2.5% |
| Interest rate at origination | 7.15% |
| Current interest rate | 7.15% |
| Origination date | 11-22-2023 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2033-12-06 |
| Prepayment lockout end | 01-05-2026 |
| Yield maintenance end | 10-05-2033 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Change from securitization to the most recent reported valuation: 0.0%.
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
Philadelphia Marriott Downtown
| Property | Philadelphia Marriott Downtown |
| Address | 1201 Market Street 1113-1131 Market Street, 12th & Market HH Unit 1; Philadelphia, PA 19107 |
| Property type | Lodging |
| Units, beds or keys | 1408 |
| Net rentable square feet | not yet reported |
| Year built | 1990 |
| Year last renovated | 2023 |
| Original balance | $11.7M |
| Current balance | $11.7M (September 2026) |
| Share of deal balance | 2.5% |
| Interest rate at origination | 8.71% |
| Current interest rate | 8.71% |
| Origination date | 10-25-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-11-06 |
| Prepayment lockout end | 01-05-2026 |
| Yield maintenance end | 05-05-2028 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | JPMorgan Chase Bank, National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Change from securitization to the most recent reported valuation: 0.0%.
Latest financials
| Financial period end (latest) | 03-31-2026 |
| Revenue | $28.5M |
| Operating expenses | $22.6M |
| Net operating income | $5.9M |
| Net cash flow | $4.5M |
| DSCR (net cash flow) | 0.95 |
| DSCR (net operating income) | 1.24 |
| Occupancy | 65% |
| Servicer advances outstanding | $0 |
1101 Hill Rd N (and 2 more properties)
| Property | 1101 Hill Rd N (and 2 more properties) |
| Address | 1101 Hill Rd N; 320 Harrison Street; 395 South Division Street; Pickerington, OH (and 2 more) 43147 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $10.4M |
| Current balance | $10.4M (September 2026) |
| Share of deal balance | 2.2% |
| Interest rate at origination | 7.52% |
| Current interest rate | 7.52% |
| Origination date | 08-14-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-09-06 |
| Prepayment lockout end | 06-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | ["03-31-2026", "03-31-2026", "03-31-2026"] |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |