← BBCMS Mortgage Trust 2023-C19 · Loan annex · CMBS market
- Deal
- BBCMS Mortgage Trust 2023-C19
- Current balance
- $25.0M (September 2026)
- Share of deal
- 3.4%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- 1.35
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2032-12-06
Property and terms
| Property | Rialto Industrial |
| Address | 1110 West Merrill Avenue; Rialto, CA 92376 |
| Property type | Industrial |
| Units, beds or keys | 0 |
| Net rentable square feet | 1,106,124 |
| Year built | 1989 |
| Year last renovated | 2020 |
| Original balance | $25.0M |
| Current balance | $25.0M (September 2026) |
| Share of deal balance | 3.4% |
| Interest rate at origination | 7.61% |
| Current interest rate | 7.61% |
| Origination date | 11-10-2022 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2032-12-06 |
| Prepayment lockout end | 09-05-2032 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | AREF |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $350.0M | 10-12-2022 | MAI |
| Most recent reported | $350.0M | 2022-10-12 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Rialto Distribution LLC | 1,106,124 | 10-31-2042 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| July 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| November 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| December 2023 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| January 2024 | $25.0M | not yet reported | 7.61% | 0.00 | 0.00 | 100% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| February 2024 | $25.0M | not yet reported | 7.61% | 0.69 | 0.74 | 100% | $0 | 09-30-2023 | $8.3M | $4.0M | $4.4M | $4.0M |
| March 2024 | $25.0M | not yet reported | 7.61% | 0.69 | 0.74 | 100% | $0 | 09-30-2023 | $8.3M | $4.0M | $4.4M | $4.0M |
| April 2024 | $25.0M | not yet reported | 7.61% | 0.69 | 0.74 | 100% | $0 | 09-30-2023 | $8.3M | $4.0M | $4.4M | $4.0M |
| May 2024 | $25.0M | not yet reported | 7.61% | 0.69 | 0.74 | 100% | $0 | 09-30-2023 | $8.3M | $4.0M | $4.4M | $4.0M |
| June 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| July 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| August 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| September 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| October 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| November 2024 | $25.0M | not yet reported | 7.61% | 1.61 | 1.67 | 100% | $0 | 12-31-2023 | $13.7M | $875,040 | $12.9M | $12.4M |
| December 2024 | $25.0M | not yet reported | 7.61% | 2.34 | 2.40 | 100% | $0 | 06-30-2024 | $9.7M | $437,520 | $9.2M | $9.0M |
| January 2025 | $25.0M | not yet reported | 7.61% | 2.34 | 2.40 | 100% | $0 | 06-30-2024 | $9.7M | $437,520 | $9.2M | $9.0M |
| February 2025 | $25.0M | not yet reported | 7.61% | 2.34 | 2.40 | 100% | $0 | 06-30-2024 | $9.7M | $437,520 | $9.2M | $9.0M |
| March 2025 | $25.0M | not yet reported | 7.61% | 2.34 | 2.40 | 100% | $0 | 06-30-2024 | $9.7M | $437,520 | $9.2M | $9.0M |
| April 2025 | $25.0M | not yet reported | 7.61% | 2.34 | 2.40 | 100% | $0 | 06-30-2024 | $9.7M | $437,520 | $9.2M | $9.0M |
| May 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| June 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| July 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| August 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| September 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| October 2025 | $25.0M | not yet reported | 7.61% | 2.19 | 2.25 | 100% | $0 | 12-31-2024 | $18.2M | $867,191 | $17.4M | $16.9M |
| November 2025 | $25.0M | not yet reported | 7.61% | 1.34 | 1.37 | 100% | $0 | 06-30-2025 | $10.0M | $433,596 | $9.5M | $9.3M |
| December 2025 | $25.0M | not yet reported | 7.61% | 1.34 | 1.37 | 100% | $0 | 06-30-2025 | $10.0M | $433,596 | $9.5M | $9.3M |
| January 2026 | $25.0M | not yet reported | 7.61% | 1.34 | 1.37 | 100% | $0 | 06-30-2025 | $10.0M | $433,596 | $9.5M | $9.3M |
| February 2026 | $25.0M | not yet reported | 7.61% | 1.33 | 1.37 | 100% | $0 | 09-30-2025 | $15.0M | $650,393 | $14.3M | $14.0M |
| March 2026 | $25.0M | not yet reported | 7.61% | 1.33 | 1.37 | 100% | $0 | 09-30-2025 | $15.0M | $650,393 | $14.3M | $14.0M |
| April 2026 | $25.0M | Matured balloon, non-performing | 7.61% | 1.33 | 1.37 | 100% | $163,773 | 09-30-2025 | $15.0M | $650,393 | $14.3M | $14.0M |
| May 2026 | $25.0M | not yet reported | 7.61% | 1.35 | 1.39 | 100% | $0 | 12-31-2025 | $19.9M | $591,841 | $19.4M | $18.9M |
| June 2026 | $25.0M | Matured balloon, non-performing | 7.61% | 1.35 | 1.39 | 100% | $163,773 | 12-31-2025 | $19.9M | $591,841 | $19.4M | $18.9M |
| July 2026 | $25.0M | not yet reported | 7.61% | 1.35 | 1.39 | 100% | $0 | 12-31-2025 | $19.9M | $591,841 | $19.4M | $18.9M |
| August 2026 | $25.0M | Matured balloon, non-performing | 7.61% | 1.35 | 1.39 | 100% | $163,773 | 12-31-2025 | $19.9M | $591,841 | $19.4M | $18.9M |
| September 2026 | $25.0M | Matured balloon, non-performing | 7.61% | 1.35 | 1.39 | 100% | $163,773 | 12-31-2025 | $19.9M | $591,841 | $19.4M | $18.9M |
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: BBCMS Mortgage Trust 2022-C18; BMO 2023-C4 Mortgage Trust; MSWF Commercial Mortgage Trust 2023-1; 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.