← Benchmark 2021-B31 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2021-B31 Mortgage Trust
- Current balance
- $42.5M (September 2026)
- Share of deal
- 2.9%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2031-12-06
Property and terms
| Property | Somerset I (and 5 more properties) |
| Address | 4127 West 127th Street; 10216 South Pulaski Rd.; 3048 West 119th Street; 6011 N. Kenmore Avenue; 3170 West 115th Street; 12 W. Washington Blvd.; Alsip, IL (and 5 more) 60803 |
| Property type | Multifamily |
| Units, beds or keys | ["574", "81", "72", "56", "48", "47"] |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | 1990 |
| Original balance | $42.5M |
| Current balance | $42.5M (September 2026) |
| Share of deal balance | 2.9% |
| Interest rate at origination | 3.78% |
| Current interest rate | 3.78% |
| Origination date | 11-17-2021 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2031-12-06 |
| Prepayment lockout end | 10-05-2031 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Matured balloon, non-performing |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $63.8M | 10-14-2021 | not yet reported |
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI", "MAI", "MAI", "MAI", "MAI"] |
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2021 | $42.5M | Matured balloon, performing | 3.78% | 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 |
| January 2022 | $42.5M | Current | 3.78% | 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 |
| February 2022 | $42.5M | Current | 3.78% | 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 2022 | $42.5M | Current | 3.78% | 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 2022 | $42.5M | Current | 3.78% | 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 |
| May 2022 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $133,786 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2022 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 2022 | $42.5M | Current | 3.78% | 1.37 | 1.45 | 94% | $0 | 09-30-2022 | $6.2M | $3.8M | $2.4M | $2.2M |
| December 2022 | $42.5M | Current | 3.78% | 1.37 | 1.45 | 94% | $0 | 09-30-2022 | $6.2M | $3.8M | $2.4M | $2.2M |
| January 2023 | $42.5M | Current | 3.78% | 1.37 | 1.45 | 94% | $0 | 09-30-2022 | $6.2M | $3.8M | $2.4M | $2.2M |
| February 2023 | $42.5M | Current | 3.78% | 1.37 | 1.45 | 94% | $0 | 09-30-2022 | $6.2M | $3.8M | $2.4M | $2.2M |
| March 2023 | $42.5M | Current | 3.78% | 1.24 | 1.33 | not yet reported | $0 | 12-31-2022 | $6.1M | $3.9M | $2.2M | $2.0M |
| April 2023 | $42.5M | Current | 3.78% | 1.24 | 1.33 | not yet reported | $0 | 12-31-2022 | $6.1M | $3.9M | $2.2M | $2.0M |
| May 2023 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $138,246 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2023 | $42.5M | Current | 3.78% | 1.62 | 1.71 | 93% | $0 | 03-31-2023 | $1.7M | $978,764 | $694,541 | $658,253 |
| October 2023 | $42.5M | Current | 3.78% | 1.56 | 1.65 | 94% | $0 | 06-30-2023 | $6.8M | $4.2M | $2.7M | $2.5M |
| November 2023 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 95% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| December 2023 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 95% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| January 2024 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 95% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| February 2024 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 95% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| March 2024 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 96% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| April 2024 | $42.5M | Current | 3.78% | 1.51 | 1.60 | 96% | $0 | 09-30-2023 | $6.8M | $4.2M | $2.6M | $2.5M |
| May 2024 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $138,246 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2024 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $133,786 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2025 | $42.5M | Current | 3.78% | 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 |
| February 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 |
| May 2025 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 2025 | $42.5M | Current | 3.78% | 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 |
| January 2026 | $42.5M | Current | 3.78% | 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 |
| February 2026 | $42.5M | Matured balloon, non-performing | 3.78% | 2.50 | 2.58 | 93% | $138,246 | 09-30-2025 | $7.5M | $3.3M | $4.2M | $4.1M |
| March 2026 | $42.5M | Matured balloon, non-performing | 3.78% | 2.50 | 2.58 | 93% | $124,867 | 09-30-2025 | $7.5M | $3.3M | $4.2M | $4.1M |
| April 2026 | $42.5M | Matured balloon, non-performing | 3.78% | 2.50 | 2.58 | 93% | $138,246 | 09-30-2025 | $7.5M | $3.3M | $4.2M | $4.1M |
| May 2026 | $42.5M | Current | 3.78% | 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 | $42.5M | 30-59 days delinquent | 3.78% | not yet reported | not yet reported | not yet reported | $138,246 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $133,786 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2026 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $138,246 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2026 | $42.5M | Matured balloon, non-performing | 3.78% | not yet reported | not yet reported | not yet reported | $138,246 | 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.
Status timeline
| Date | Event |
|---|---|
| 2024-03-15 | Transferred to the special servicer |
| June 2026 | First reported 30 or more days delinquent |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.