← 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
- $36.5M (January 2022)
- Share of deal
- 4.2%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- 1.99
- Occupancy (latest)
- 98%
- Scheduled maturity
- 2028-12-06
Property and terms
| Property | Kawa Mixed Use Portfolio |
| Address | not yet reported |
| Property type | not yet reported |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $36.5M |
| Current balance | $36.5M (January 2022) |
| Share of deal balance | 4.2% |
| Interest rate at origination | 5.08% |
| Current interest rate | 5.08% |
| Origination date | 11-20-2018 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2028-12-06 |
| Prepayment lockout end | 03-05-2021 |
| Yield maintenance end | 09-05-2028 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $109.5M | not yet reported | MAI |
| Most recent reported | $113.2M | not yet reported | MAI |
Change from securitization to the most recent reported valuation: 3.4%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2020 | $36.5M | Matured balloon, non-performing | 5.08% | 1.90 | 1.97 | 98% | $0 | 03-31-2020 | $2.5M | $619,061 | $1.9M | $1.8M |
| December 2020 | $36.5M | Matured balloon, non-performing | 5.08% | 1.86 | 1.93 | 98% | $0 | 09-30-2020 | $7.3M | $1.7M | $5.6M | $5.4M |
| February 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.86 | 1.93 | 98% | $0 | 09-30-2020 | $7.3M | $1.7M | $5.6M | $5.4M |
| April 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.85 | 1.92 | 98% | $0 | 12-31-2020 | $9.6M | $2.3M | $7.4M | $7.1M |
| July 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.96 | 2.03 | 98% | $0 | 03-31-2021 | $2.6M | $645,737 | $1.9M | $1.9M |
| August 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.96 | 2.03 | 98% | $0 | 03-31-2021 | $2.6M | $645,737 | $1.9M | $1.9M |
| October 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.99 | 2.06 | 98% | $0 | 06-30-2021 | $10.4M | $2.5M | $7.9M | $7.6M |
| November 2021 | $36.5M | Matured balloon, non-performing | 5.08% | 1.99 | 2.06 | 98% | $0 | 06-30-2021 | $10.4M | $2.5M | $7.9M | $7.6M |
| January 2022 | $36.5M | Matured balloon, non-performing | 5.08% | 1.99 | 2.06 | 98% | $0 | 06-30-2021 | $10.4M | $2.5M | $7.9M | $7.6M |
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.
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: Benchmark 2019-B9 Mortgage Trust (segment D01, CIK 1764759).
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.