Benchmark 2019-B9 Mortgage Trust (segment D02, CIK 1764759)
Current balance
$88.0M (January 2022)
Share of deal
10.0%
Status
Current
DSCR (latest)
0.71
Occupancy (latest)
60%
Scheduled maturity
2028-12-06
Property and terms
Property
Loan 1
Address
New York, NY
Property type
Office
Units, beds or keys
not yet reported
Net rentable square feet
not yet reported
Year built
1977
Year last renovated
2001
Original balance
$88.0M
Current balance
$88.0M (January 2022)
Share of deal balance
10.0%
Interest rate at origination
4.75%
Current interest rate
4.75%
Origination date
11-30-2018
Original term
120 months
Amortization term
not yet reported
Interest-only period
120 months
Scheduled maturity
2028-12-06
Prepayment lockout end
06-05-2028
Yield maintenance end
not yet reported
Servicer
Wells Fargo Bank, NA
Loan servicer
not yet reported
Originator
Citi Real Estate Funding Inc.
Current status
Current
Specially serviced now
No
Defeased
No
Valuation
Basis
Amount
Date
Source (as filed)
At securitization
$505.0M
10-25-2018
MAI
Largest tenants
Tenant
Square feet
Lease expiration
HOUGHTON MIFFLIN HARCOURT
101,821
12-31-2027
TRANSPERFECT TRANSLATIONS
91,220
09-30-2019
P. KAUFMANN CONTRACT
57,000
12-31-2022
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
November 2020
$88.0M
Current
4.75%
1.96
2.34
64%
$0
06-30-2020
$13.6M
$6.8M
$6.8M
$5.8M
December 2020
$88.0M
Current
4.75%
1.96
2.34
64%
$0
06-30-2020
$13.6M
$6.8M
$6.8M
$5.8M
February 2021
$88.0M
Matured balloon, non-performing
4.75%
1.23
1.48
62%
$359,755
09-30-2020
$19.9M
$10.2M
$9.7M
$8.1M
April 2021
$88.0M
30-59 days delinquent
4.75%
1.23
1.48
62%
$684,695
09-30-2020
$19.9M
$10.2M
$9.7M
$8.1M
July 2021
$88.0M
30-59 days delinquent
4.75%
1.23
1.48
62%
$707,905
09-30-2020
$19.9M
$10.2M
$9.7M
$8.1M
August 2021
$88.0M
30-59 days delinquent
4.75%
1.23
1.48
62%
$707,905
09-30-2020
$19.9M
$10.2M
$9.7M
$8.1M
October 2021
$88.0M
30-59 days delinquent
4.75%
1.23
1.48
62%
$719,510
09-30-2020
$19.9M
$10.2M
$9.7M
$8.1M
November 2021
$88.0M
30-59 days delinquent
4.75%
0.71
0.95
60%
$707,905
06-30-2021
$11.2M
$7.1M
$4.2M
$3.1M
January 2022
$88.0M
Current
4.75%
0.71
0.95
60%
$0
06-30-2021
$11.2M
$7.1M
$4.2M
$3.1M
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
April 2021
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.