← BBCMS Mortgage Trust 2023-C19 · Loan annex · CMBS market
- Deal
- BBCMS Mortgage Trust 2023-C19
- Current balance
- $38.0M (April 2023)
- Share of deal
- not yet reported
- Status
- Matured balloon, performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2033-04-06
Property and terms
| Property | 100 Jefferson Road |
| Address | 100 Jefferson Road; Parsippany, NJ 07054 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 558,930 |
| Year built | 1957 |
| Year last renovated | 2023 |
| Original balance | $38.0M |
| Current balance | $38.0M (April 2023) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 7.26% |
| Current interest rate | 7.26% |
| Origination date | 03-10-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-04-06 |
| Prepayment lockout end | 01-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Matured balloon, performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $173.0M | 08-01-2023 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| J&J Farms Creamery | 204,217 | 02-28-2038 |
| Vitaquest International LLC | 198,489 | 02-28-2030 |
| PNY Technologies Inc | 156,224 | 10-04-2028 |
The three largest tenants as reported in the latest asset-level record.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| April 2023 | $38.0M | Matured balloon, performing | 7.26% | 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 |
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.
Also filed in other trusts
Loans are sometimes split across trusts (pari passu), and each trust files the loan at its whole-loan amount. A loan with the same property name and origination date is filed in: MSWF Commercial Mortgage Trust 2023-1.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.