← 3650R 2022-PF2 Commercial Mortgage Trust · Loan annex · CMBS market
- Deal
- 3650R 2022-PF2 Commercial Mortgage Trust
- Current balance
- $9.9M (September 2026)
- Share of deal
- 1.4%
- Status
- Current
- DSCR (latest)
- 3.22
- Occupancy (latest)
- 92%
- Scheduled maturity
- 2031-12-05
Property and terms
| Property | Prince Hall Apartments |
| Address | 3650 Dixon Avenue 5240 Wulschleger Lane; Dallas, TX 75210 |
| Property type | Multifamily |
| Units, beds or keys | 192 |
| Net rentable square feet | not yet reported |
| Year built | 1969 |
| Year last renovated | not yet reported |
| Original balance | $9.9M |
| Current balance | $9.9M (September 2026) |
| Share of deal balance | 1.4% |
| Interest rate at origination | 3.97% |
| Current interest rate | 3.97% |
| Origination date | 11-24-2021 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2031-12-05 |
| Prepayment lockout end | 09-04-2031 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | 3650 Real Estate Investment Trust 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $15.2M | 08-16-2021 | MAI |
| Most recent reported | $15.2M | 2021-08-16 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2022 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2022 | $9.9M | Current | 3.97% | 2.58 | 2.64 | 98% | $0 | 06-30-2022 | $2.3M | $1.2M | $1.1M | $1.0M |
| January 2023 | $9.9M | Current | 3.97% | 1.12 | 1.16 | 98% | $0 | 09-30-2022 | $2.3M | $1.7M | $616,887 | $593,887 |
| February 2023 | $9.9M | Current | 3.97% | 1.12 | 1.16 | 98% | $0 | 09-30-2022 | $2.3M | $1.7M | $616,887 | $593,887 |
| March 2023 | $9.9M | Current | 3.97% | 2.56 | 2.71 | 97% | $0 | 12-31-2022 | $2.3M | $1.2M | $1.1M | $1.0M |
| April 2023 | $9.9M | Current | 3.97% | 2.56 | 2.71 | 97% | $0 | 12-31-2022 | $2.3M | $1.2M | $1.1M | $1.0M |
| May 2023 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2023 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2023 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2023 | $9.9M | Current | 3.97% | 3.16 | 3.30 | 96% | $0 | 06-30-2023 | $2.5M | $1.2M | $1.3M | $1.3M |
| September 2023 | $9.9M | Current | 3.97% | 3.16 | 3.30 | 96% | $0 | 06-30-2023 | $2.5M | $1.2M | $1.3M | $1.3M |
| October 2023 | $9.9M | Current | 3.97% | 3.16 | 3.30 | 96% | $0 | 06-30-2023 | $2.5M | $1.2M | $1.3M | $1.3M |
| November 2023 | $9.9M | Current | 3.97% | 3.16 | 3.30 | 96% | $0 | 06-30-2023 | $2.5M | $1.2M | $1.3M | $1.3M |
| December 2023 | $9.9M | Current | 3.97% | 3.16 | 3.30 | 96% | $0 | 06-30-2023 | $2.5M | $1.2M | $1.3M | $1.3M |
| January 2024 | $9.9M | Current | 3.97% | 2.92 | 3.06 | 96% | $0 | 09-30-2023 | $2.5M | $1.3M | $1.2M | $1.2M |
| February 2024 | $9.9M | Current | 3.97% | 2.97 | 3.11 | 96% | $0 | 12-31-2023 | $2.5M | $1.3M | $1.2M | $1.2M |
| March 2024 | $9.9M | Current | 3.97% | 2.97 | 3.11 | 96% | $0 | 12-31-2023 | $2.5M | $1.3M | $1.2M | $1.2M |
| April 2024 | $9.9M | Current | 3.97% | 2.97 | 3.11 | 96% | $0 | 12-31-2023 | $2.5M | $1.3M | $1.2M | $1.2M |
| May 2024 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2024 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2024 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2024 | $9.9M | Current | 3.97% | 3.38 | 3.52 | 100% | $0 | 06-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| September 2024 | $9.9M | Current | 3.97% | 3.38 | 3.52 | 100% | $0 | 06-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| October 2024 | $9.9M | Current | 3.97% | 3.38 | 3.52 | 100% | $0 | 06-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| November 2024 | $9.9M | Current | 3.97% | 3.38 | 3.52 | 100% | $0 | 06-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| December 2024 | $9.9M | Current | 3.97% | 3.34 | 3.49 | 96% | $0 | 09-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| January 2025 | $9.9M | Matured balloon, non-performing | 3.97% | 3.34 | 3.49 | 96% | $33,446 | 09-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| February 2025 | $9.9M | 30-59 days delinquent | 3.97% | 3.34 | 3.49 | 96% | $66,891 | 09-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| March 2025 | $9.9M | 60-89 days delinquent | 3.97% | 3.34 | 3.49 | 96% | $97,100 | 09-30-2024 | $2.7M | $1.3M | $1.4M | $1.3M |
| April 2025 | $9.9M | 90+ days delinquent | 3.97% | 3.23 | 3.37 | 94% | $130,546 | 12-31-2024 | $2.7M | $1.4M | $1.3M | $1.3M |
| May 2025 | $9.9M | 90+ days delinquent | 3.97% | not yet reported | not yet reported | not yet reported | $162,913 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2025 | $9.9M | 90+ days delinquent | 3.97% | not yet reported | not yet reported | not yet reported | $196,359 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2025 | $9.9M | 90+ days delinquent | 3.97% | not yet reported | not yet reported | not yet reported | $228,725 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2025 | $9.9M | Matured balloon, non-performing | 3.97% | 3.37 | 3.52 | 98% | $33,446 | 06-30-2025 | $2.8M | $1.4M | $1.4M | $1.3M |
| September 2025 | $9.9M | 30-59 days delinquent | 3.97% | 3.37 | 3.52 | 98% | $66,891 | 06-30-2025 | $2.8M | $1.4M | $1.4M | $1.3M |
| October 2025 | $9.9M | 30-59 days delinquent | 3.97% | 3.37 | 3.52 | 98% | $65,812 | 06-30-2025 | $2.8M | $1.4M | $1.4M | $1.3M |
| November 2025 | $9.9M | 30-59 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $65,812 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| December 2025 | $9.9M | 60-89 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $98,179 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| January 2026 | $9.9M | 30-59 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $65,812 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| February 2026 | $9.9M | 30-59 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $66,891 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| March 2026 | $9.9M | 30-59 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $63,655 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| April 2026 | $9.9M | 30-59 days delinquent | 3.97% | 3.31 | 3.45 | 97% | $63,655 | 09-30-2025 | $2.8M | $1.5M | $1.4M | $1.3M |
| May 2026 | $9.9M | Current | 3.97% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $9.9M | Current | 3.97% | 3.09 | 3.23 | 93% | $0 | 03-31-2026 | $698,359 | $375,670 | $322,689 | $308,289 |
| July 2026 | $9.9M | Current | 3.97% | 3.09 | 3.23 | 93% | $0 | 03-31-2026 | $698,359 | $375,670 | $322,689 | $308,289 |
| August 2026 | $9.9M | Current | 3.97% | 3.22 | 3.36 | 92% | $0 | 06-30-2026 | $2.8M | $1.4M | $1.3M | $1.3M |
| September 2026 | $9.9M | Current | 3.97% | 3.22 | 3.36 | 92% | $0 | 06-30-2026 | $2.8M | $1.4M | $1.3M | $1.3M |
Revenue, expenses, net operating income (NOI) and net cash flow (NCF) are the most recent financials reported as of each month, for the financial period ending on the date shown. DSCR is debt service coverage on the net cash flow and net operating income bases as reported.
Status timeline
| Date | Event |
|---|---|
| 2024-05-01 | Loan modified (rate after modification 0.00%; maturity after modification 2031-12-05; payment after modification $0) |
| February 2025 | First reported 30 or more days delinquent |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.