← Benchmark 2019-B9 Mortgage Trust (segment D02, CIK 1764759) · Loan annex · CMBS market
- Deal
- Benchmark 2019-B9 Mortgage Trust (segment D02, CIK 1764759)
- Current balance
- $47.0M (January 2022)
- Share of deal
- 5.4%
- Status
- Current
- DSCR (latest)
- 2.00
- Occupancy (latest)
- 95%
- Scheduled maturity
- 2029-01-06
Property and terms
| Property | Loan 3 |
| Address | Plymouth, MN |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | 1973 |
| Year last renovated | 2015 |
| Original balance | $47.0M |
| Current balance | $47.0M (January 2022) |
| Share of deal balance | 5.4% |
| Interest rate at origination | 4.99% |
| Current interest rate | 4.99% |
| Origination date | 12-11-2018 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 60 months |
| Scheduled maturity | 2029-01-06 |
| Prepayment lockout end | 10-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | German American Capital Corporation |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $69.1M | 07-13-2018 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| TCF NATIONAL BANK | 437,186 | 12-31-2025 |
| COMM-WORKS | 65,356 | 02-28-2027 |
| MERITAIN HEALTH (AETNA) | 64,095 | 10-31-2023 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2020 | $47.0M | Current | 4.99% | 2.36 | 2.66 | 98% | $0 | 06-30-2020 | $5.8M | $2.6M | $3.2M | $2.8M |
| December 2020 | $47.0M | Current | 4.99% | 2.22 | 2.53 | 98% | $0 | 09-30-2020 | $8.6M | $4.1M | $4.5M | $4.0M |
| February 2021 | $47.0M | Current | 4.99% | 2.22 | 2.53 | 98% | $0 | 09-30-2020 | $8.6M | $4.1M | $4.5M | $4.0M |
| April 2021 | $47.0M | Current | 4.99% | 2.04 | 2.35 | 98% | $0 | 12-31-2020 | $11.0M | $5.4M | $5.6M | $4.9M |
| July 2021 | $47.0M | Current | 4.99% | 2.18 | 2.49 | 95% | $0 | 03-31-2021 | $2.7M | $1.3M | $1.5M | $1.3M |
| August 2021 | $47.0M | Current | 4.99% | 2.18 | 2.49 | 95% | $0 | 03-31-2021 | $2.7M | $1.3M | $1.5M | $1.3M |
| October 2021 | $47.0M | Current | 4.99% | 2.19 | 2.50 | 95% | $0 | 06-30-2021 | $5.4M | $2.5M | $3.0M | $2.6M |
| November 2021 | $47.0M | Current | 4.99% | 2.00 | 2.31 | 95% | $0 | 09-30-2021 | $8.2M | $4.1M | $4.1M | $3.6M |
| January 2022 | $47.0M | Current | 4.99% | 2.00 | 2.31 | 95% | $0 | 09-30-2021 | $8.2M | $4.1M | $4.1M | $3.6M |
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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.