← BENCHMARK 2018-B2 Mortgage Trust · Loan annex · CMBS market
- Deal
- BENCHMARK 2018-B2 Mortgage Trust
- Current balance
- $50.0M (February 2018)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- 98%
- Scheduled maturity
- 2027-11-06
Property and terms
| Property | Worldwide Plaza |
| Address | 825 Eighth Avenue; New York, NY 10019 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 2,049,553 |
| Year built | 1987 |
| Year last renovated | 1996 |
| Original balance | $50.0M |
| Current balance | $50.0M (February 2018) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 3.60% |
| Current interest rate | 3.60% |
| Origination date | 10-18-2017 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2027-11-06 |
| Prepayment lockout end | 07-05-2027 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo Bank, N.A. |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Mortgage Company |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.74B | 10-01-2017 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Nomura Holding America Inc. | 819,906 | 09-30-2033 |
| Cravath, Swaine & Moore LLP Sub-Leased/AMA Consulting Engineers, P.C., McCarter & English LLP | 617,135 | 08-31-2024 |
| Mercury Parking LLC | 131,971 | 11-30-2027 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2018 | $50.0M | Current | 3.60% | not yet reported | not yet reported | 98% | $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: Benchmark 2018-B1 Mortgage Trust; GS Mortgage Securities Trust 2017-GS8; GS Mortgage Securities Trust 2018-GS9.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.