← Benchmark 2018-B3 Commercial Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2018-B3 Commercial Mortgage Trust
- Current balance
- $2.5M (April 2019)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- 1.87
- Occupancy (latest)
- 91%
- Scheduled maturity
- 2023-02-06
Property and terms
| Property | Sherman Plaza |
| Address | 505, 605, and 705 South Sherman Street; Richardson, TX 75081 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 95,616 |
| Year built | 1975 |
| Year last renovated | not yet reported |
| Original balance | $2.5M |
| Current balance | $2.5M (April 2019) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 5.74% |
| Current interest rate | 5.74% |
| Origination date | 02-06-2018 |
| Original term | 60 months |
| Amortization term | 360 months |
| Interest-only period | 24 months |
| Scheduled maturity | 2023-02-06 |
| Prepayment lockout end | 11-05-2022 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $5.5M | 01-08-2018 | MAI |
| Most recent reported | $5.5M | 2018-01-08 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Mahmoud Al-Jazairli | 5,095 | 06-30-2017 |
| Richardson Auto Glass | 4,630 | 10-31-2018 |
| ABDEL MAHDI | 4,553 | 06-30-2023 |
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 2019 | $2.5M | Current | 5.74% | 1.87 | 2.29 | 91% | not yet reported | 09-30-2018 | $580,972 | $247,244 | $333,728 | $272,534 |
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 |
|---|---|
| 2023-02-06 | Scheduled maturity passed; the loan is still reported, with status Current in April 2019 |
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: Citigroup Commercial Mortgage Trust 2018-B2.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.