← Benchmark 2020-B16 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2020-B16 Mortgage Trust
- Current balance
- $3.9M (December 2023)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- 0.62
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2029-09-06
Property and terms
| Property | 34-260 Monterey Avenue (and 1 more properties) |
| Address | 34-260 Monterey Avenue aka 34620 Monterey Avenue; 18428 Collier Ave; Palm Desert, CA (and 1 more) 92211 |
| Property type | Retail |
| 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 | $3.9M |
| Current balance | $3.9M (December 2023) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 4.35% |
| Current interest rate | 4.35% |
| Origination date | 09-06-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-09-06 |
| Prepayment lockout end | 11-05-2021 |
| Yield maintenance end | 06-05-2029 |
| Servicer | Midland |
| 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) |
|---|---|---|---|
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI"] |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Pho Vu | not yet reported | ["11-30-2023", "02-28-2029"] |
| T-Mobile West, LLC | not yet reported | ["12-31-2023", "12-31-2029"] |
| T-Mobile | 2,457 | 12-31-2023 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2023 | $3.9M | Current | 4.35% | 0.62 | 0.73 | 100% | $0 | 06-30-2023 | $425,817 | $301,673 | $124,144 | $104,877 |
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 |
|---|---|
| 2020-06-25 | Transferred to the special servicer |
| 2020-07-09 | Returned to the master servicer |
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-B13 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.