← 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
- $10.1M (January 2022)
- Share of deal
- 1.2%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- 1.29
- Occupancy (latest)
- 68%
- Scheduled maturity
- 2026-02-01
Property and terms
| Property | Loan 33 |
| Address | Berkeley, CA |
| Property type | Lodging |
| Units, beds or keys | 113 |
| Net rentable square feet | not yet reported |
| Year built | 1965 |
| Year last renovated | 2016 |
| Original balance | $10.5M |
| Current balance | $10.1M (January 2022) |
| Share of deal balance | 1.2% |
| Interest rate at origination | 5.20% |
| Current interest rate | 5.20% |
| Origination date | 01-09-2019 |
| Original term | 84 months |
| Amortization term | 360 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2026-02-01 |
| Prepayment lockout end | 03-31-2021 |
| Yield maintenance end | 11-30-2025 |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | JPMorgan Chase Bank, National Association |
| Current status | Matured balloon, non-performing |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $19.8M | 12-11-2018 | MAI |
| Most recent reported | $15.4M | 2021-02-17 | MAI |
Change from securitization to the most recent reported valuation: -22.2%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2020 | $10.3M | 60-89 days delinquent | 5.20% | 1.29 | 1.53 | 68% | $115,270 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| December 2020 | $10.3M | 60-89 days delinquent | 5.20% | 1.29 | 1.53 | 68% | $172,904 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| February 2021 | $10.3M | 90+ days delinquent | 5.20% | 1.29 | 1.53 | 68% | $230,540 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| April 2021 | $10.3M | 90+ days delinquent | 5.20% | 1.29 | 1.53 | 68% | $345,811 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| July 2021 | $10.2M | 60-89 days delinquent | 5.20% | 1.29 | 1.53 | 68% | $0 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| August 2021 | $10.2M | 90+ days delinquent | 5.20% | 1.29 | 1.53 | 68% | $57,635 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| October 2021 | $10.1M | Matured balloon, non-performing | 5.20% | 1.29 | 1.53 | 68% | $172,905 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| November 2021 | $10.1M | Matured balloon, non-performing | 5.20% | 1.29 | 1.53 | 68% | $0 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
| January 2022 | $10.1M | Matured balloon, non-performing | 5.20% | 1.29 | 1.53 | 68% | $0 | 12-31-2019 | $4.2M | $3.1M | $1.1M | $890,948 |
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 |
|---|---|
| November 2020 | First reported 30 or more days delinquent |
| 2020-12-16 | Transferred to the special servicer |
| 2026-02-01 | Scheduled maturity passed; the loan is still reported, with status Matured balloon, non-performing in January 2022 |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.