← Benchmark 2021-B23 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2021-B23 Mortgage Trust
- Current balance
- $75.0M (September 2026)
- Share of deal
- 5.1%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2032-03-05
Property and terms
| Property | MGM Grand (and 1 more properties) |
| Address | 3799 S. Las Vegas Boulevard; 3930 & 3950 S. Las Vegas Boulevard; Las Vegas, NV (and 1 more) 89109 |
| Property type | Lodging |
| Units, beds or keys | ["4998", "4750"] |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $75.0M |
| Current balance | $75.0M (September 2026) |
| Share of deal balance | 5.1% |
| Interest rate at origination | 3.56% |
| Current interest rate | 3.56% |
| Origination date | 02-14-2020 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2032-03-05 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | 09-04-2029 |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc., Barclays Capital Real Estate Inc., Deutsche Bank AG, New York Branch, Société Générale Financial Corporation |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $4.60B | not yet reported | MAI |
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI"] |
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2021 | $75.0M | Current | 3.56% | -1.66 | -1.54 | 72% | $0 | 09-30-2020 | $1.16B | $1.33B | $-172.9M | $-186.8M |
| May 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2021 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2021 | $75.0M | Current | 3.56% | -2.37 | -2.24 | not yet reported | $0 | 06-30-2021 | $907.5M | $1.15B | $-242.5M | $-256.1M |
| October 2021 | $75.0M | Current | 3.56% | -2.37 | -2.24 | 53% | $0 | 06-30-2021 | $907.5M | $1.15B | $-242.5M | $-256.1M |
| November 2021 | $75.0M | Current | 3.56% | -2.37 | -2.24 | 53% | $0 | 06-30-2021 | $907.5M | $1.15B | $-242.5M | $-256.1M |
| December 2021 | $75.0M | Current | 3.56% | -2.37 | -2.24 | 53% | $0 | 06-30-2021 | $907.5M | $1.15B | $-242.5M | $-256.1M |
| January 2022 | $75.0M | Current | 3.56% | -2.37 | -2.24 | 53% | $0 | 06-30-2021 | $907.5M | $1.15B | $-242.5M | $-256.1M |
| February 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2021", "09-30-2021"] | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2021", "09-30-2021"] | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2021", "09-30-2021"] | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "06-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "06-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2022 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "06-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "06-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2023 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2023 | $75.0M | Current | 3.56% | 2.88 | 3.21 | 91% | $0 | 03-31-2023 | $2.37B | $2.02B | $346.9M | $311.4M |
| September 2023 | $75.0M | Current | 3.56% | 2.88 | 3.21 | 91% | $0 | 03-31-2023 | $2.37B | $2.02B | $346.9M | $311.4M |
| October 2023 | $75.0M | Current | 3.56% | 2.93 | 3.26 | 91% | $0 | 06-30-2023 | $1.29B | $1.10B | $192.1M | $172.7M |
| November 2023 | $75.0M | Current | 3.56% | 2.93 | 3.26 | 91% | $0 | 06-30-2023 | $1.29B | $1.10B | $192.1M | $172.7M |
| December 2023 | $75.0M | Current | 3.56% | 2.93 | 3.26 | 91% | $0 | 06-30-2023 | $1.29B | $1.10B | $192.1M | $172.7M |
| January 2024 | $75.0M | Current | 3.56% | 2.93 | 3.26 | 91% | $0 | 06-30-2023 | $1.29B | $1.10B | $192.1M | $172.7M |
| February 2024 | $75.0M | Current | 3.56% | 2.33 | 2.66 | 91% | $0 | 09-30-2023 | $2.36B | $2.07B | $287.5M | $252.0M |
| March 2024 | $75.0M | Current | 3.56% | 2.33 | 2.66 | 92% | $0 | 09-30-2023 | $2.36B | $2.07B | $287.5M | $252.0M |
| April 2024 | $75.0M | Current | 3.56% | 2.33 | 2.66 | 92% | $0 | 09-30-2023 | $2.36B | $2.07B | $287.5M | $252.0M |
| May 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2024 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2024 | $75.0M | Current | 3.56% | 5.83 | 6.18 | not yet reported | $0 | 06-30-2024 | $2.48B | $1.81B | $670.3M | $633.1M |
| January 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2024", "09-30-2024"] | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2024", "09-30-2024"] | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2024", "09-30-2024"] | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2024", "12-31-2024"] | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["03-31-2025", "03-31-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["03-31-2025", "03-31-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["03-31-2025", "03-31-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "06-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "06-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2025 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "06-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "06-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "06-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "09-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | ["06-30-2025", "09-30-2025"] | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2026 | $75.0M | Current | 3.56% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
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: BBCMS Mortgage Trust 2020-C8; BBCMS Mortgage Trust 2021-C9; Benchmark 2020-B18 Mortgage Trust; Benchmark 2020-B19 Mortgage Trust; Benchmark 2020-B20 Mortgage Trust; Benchmark 2020-B21 Mortgage Trust; Benchmark 2020-B22 Mortgage Trust; Benchmark 2021-B24 Mortgage Trust; Benchmark 2021-B26 Mortgage Trust (segment D02, CIK 1858289); CSAIL 2021-C20 Commercial Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.