← BBCMS Mortgage Trust 2023-C19 · Loan annex · CMBS market
- Deal
- BBCMS Mortgage Trust 2023-C19
- Current balance
- $54.5M (September 2026)
- Share of deal
- 7.4%
- Status
- 90+ days delinquent
- DSCR (latest)
- 0.00
- Occupancy (latest)
- 93%
- Scheduled maturity
- 2033-04-06
Property and terms
| Property | 2 Executive |
| Address | 2 Executive Drive; Fort Lee, NJ 7024 |
| Property type | Mixed use |
| Units, beds or keys | 0 |
| Net rentable square feet | 290,922 |
| Year built | 1986 |
| Year last renovated | 2022 |
| Original balance | $54.5M |
| Current balance | $54.5M (September 2026) |
| Share of deal balance | 7.4% |
| Interest rate at origination | 6.22% |
| Current interest rate | 6.22% |
| Origination date | 03-08-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-04-06 |
| Prepayment lockout end | 12-05-2032 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | 90+ days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $84.0M | 10-19-2022 | MAI |
| Most recent reported | $84.0M | 2022-10-19 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| U.S. GSA Fac Sport Center | 29,935 | 10-09-2028 |
| Retrofitness Clubs LLC | 23,500 | 06-09-2040 |
| Hudson Motors Partnership | 22,050 | 07-31-2027 |
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 | $54.5M | Matured balloon, performing | 6.22% | 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 |
| May 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| July 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| November 2023 | $54.5M | not yet reported | 6.22% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| December 2023 | $54.5M | not yet reported | 6.22% | 0.70 | 0.75 | 0% | $0 | 09-30-2023 | $1.7M | $1.1M | $649,482 | $609,345 |
| January 2024 | $54.5M | Matured balloon, non-performing | 6.22% | 0.00 | 0.00 | 93% | $291,611 | not yet reported | $0 | $0 | $0 | $0 |
| February 2024 | $54.5M | 30-59 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $583,221 | not yet reported | $0 | $0 | $0 | $0 |
| March 2024 | $54.5M | Matured balloon, non-performing | 6.22% | 0.00 | 0.00 | 93% | $272,797 | not yet reported | $0 | $0 | $0 | $0 |
| April 2024 | $54.5M | 30-59 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $564,407 | not yet reported | $0 | $0 | $0 | $0 |
| May 2024 | $54.5M | 30-59 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $573,814 | not yet reported | $0 | $0 | $0 | $0 |
| June 2024 | $54.5M | 60-89 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $865,425 | not yet reported | $0 | $0 | $0 | $0 |
| July 2024 | $54.5M | 30-59 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $573,814 | not yet reported | $0 | $0 | $0 | $0 |
| August 2024 | $54.5M | 30-59 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $573,814 | not yet reported | $0 | $0 | $0 | $0 |
| September 2024 | $54.5M | 60-89 days delinquent | 6.22% | 0.00 | 0.00 | 93% | $865,425 | not yet reported | $0 | $0 | $0 | $0 |
| October 2024 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $1.1M | not yet reported | $0 | $0 | $0 | $0 |
| November 2024 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $1.4M | not yet reported | $0 | $0 | $0 | $0 |
| December 2024 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $1.7M | not yet reported | $0 | $0 | $0 | $0 |
| January 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $1.9M | not yet reported | $0 | $0 | $0 | $0 |
| February 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $2.1M | not yet reported | $0 | $0 | $0 | $0 |
| March 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $2.3M | not yet reported | $0 | $0 | $0 | $0 |
| April 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $2.5M | not yet reported | $0 | $0 | $0 | $0 |
| May 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $2.7M | not yet reported | $0 | $0 | $0 | $0 |
| June 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $2.9M | not yet reported | $0 | $0 | $0 | $0 |
| July 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $3.1M | not yet reported | $0 | $0 | $0 | $0 |
| August 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $3.4M | not yet reported | $0 | $0 | $0 | $0 |
| September 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $3.6M | not yet reported | $0 | $0 | $0 | $0 |
| October 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $3.8M | not yet reported | $0 | $0 | $0 | $0 |
| November 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $4.0M | not yet reported | $0 | $0 | $0 | $0 |
| December 2025 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $4.2M | not yet reported | $0 | $0 | $0 | $0 |
| January 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $4.4M | not yet reported | $0 | $0 | $0 | $0 |
| February 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $4.7M | not yet reported | $0 | $0 | $0 | $0 |
| March 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $4.9M | not yet reported | $0 | $0 | $0 | $0 |
| April 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $5.1M | not yet reported | $0 | $0 | $0 | $0 |
| May 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $5.3M | not yet reported | $0 | $0 | $0 | $0 |
| June 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $5.5M | not yet reported | $0 | $0 | $0 | $0 |
| July 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $5.7M | not yet reported | $0 | $0 | $0 | $0 |
| August 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $5.9M | not yet reported | $0 | $0 | $0 | $0 |
| September 2026 | $54.5M | 90+ days delinquent | 6.22% | 0.00 | 0.00 | 93% | $6.2M | not yet reported | $0 | $0 | $0 | $0 |
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 |
|---|---|
| 2024-01-18 | Transferred to the special servicer |
| February 2024 | 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.