← Benchmark 2018-B7 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2018-B7 Mortgage Trust
- Current balance
- $58.4M (June 2022)
- Share of deal
- not yet reported
- Status
- 90+ days delinquent
- DSCR (latest)
- 0.00
- Occupancy (latest)
- 93%
- Scheduled maturity
- 2027-11-05
Property and terms
| Property | The Standard Highline NYC |
| Address | 848 Washington Street; New York, NY 10014 |
| Property type | Lodging |
| Units, beds or keys | 338 |
| Net rentable square feet | not yet reported |
| Year built | 2006 |
| Year last renovated | not yet reported |
| Original balance | $58.4M |
| Current balance | $58.4M (June 2022) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 5.28% |
| Current interest rate | 4.30% |
| Origination date | 10-27-2017 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2027-11-05 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | Natixis Real Estate Capital LLC |
| Current status | 90+ days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $340.0M | 09-07-2017 | not yet reported |
| Most recent reported | $245.7M | 2021-08-04 | MAI |
Change from securitization to the most recent reported valuation: -27.7%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2019 | $58.4M | not yet reported | 4.30% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2022 | $58.4M | 90+ days delinquent | 4.30% | 0.00 | 0.00 | 93% | $5.5M | 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 |
|---|---|
| 2020-06-18 | Transferred to the special servicer |
| June 2022 | First reported 30 or more days delinquent |
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: CSAIL 2017-CX10 Commercial Mortgage Trust (segment D01, CIK 1720474); CSAIL 2017-CX10 Commercial Mortgage Trust (segment D01, CIK 1720474); Wells Fargo Commercial Mortgage Trust 2016-C37.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.