← Benchmark 2021-B26 Mortgage Trust (segment D02, CIK 1858289) · Loan annex · CMBS market
- Deal
- Benchmark 2021-B26 Mortgage Trust (segment D02, CIK 1858289)
- Current balance
- $30.0M (October 2023)
- Share of deal
- 3.7%
- Status
- Current
- DSCR (latest)
- 2.96
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2030-03-06
Property and terms
| Property | 711 Fifth Avenue |
| Address | 711 5th Avenue; New York, NY 10022 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 340,024 |
| Year built | 1927 |
| Year last renovated | 2019 |
| Original balance | $30.0M |
| Current balance | $30.0M (October 2023) |
| Share of deal balance | 3.7% |
| Interest rate at origination | 3.16% |
| Current interest rate | 3.16% |
| Origination date | 03-06-2020 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2030-03-06 |
| Prepayment lockout end | 09-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.00B | 01-23-2020 | MAI |
| Most recent reported | $1.00B | 2020-01-23 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Truist Financial Corporation | 84,470 | 04-30-2024 |
| Allen & Company | 70,924 | 09-30-2033 |
| Ralph Lauren | 49,164 | 06-30-2029 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 2023 | $30.0M | Current | 3.16% | 2.96 | 3.00 | not yet reported | $0 | 06-30-2023 | $76.8M | $24.6M | $52.2M | $51.6M |
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: Bank 2020-BNK27; Bank 2020-BNK28; Bank 2020-BNK29; Bank 2020-BNK30; BBCMS Mortgage Trust 2020-C8; 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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.