← Benchmark 2022-B32 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2022-B32 Mortgage Trust
- Current balance
- $62.3M (September 2026)
- Share of deal
- 3.5%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2032-01-06
Property and terms
| Property | 6543 Las Vegas Boulevard South (and 5 more properties) |
| Address | 6543 Las Vegas Boulevard South; 6226 W. Sahara Avenue; 10190 Covington Cross Drive; 1450 Center Crossing Road; 6551 Las Vegas Boulevard South; 9901-9921 Covington Cross Drive; Las Vegas, NV (and 5 more) 89119 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2018", "2018"] |
| Original balance | $63.0M |
| Current balance | $62.3M (September 2026) |
| Share of deal balance | 3.5% |
| Interest rate at origination | 4.25% |
| Current interest rate | 4.25% |
| Origination date | 12-30-2021 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 48 months |
| Scheduled maturity | 2032-01-06 |
| Prepayment lockout end | 09-05-2031 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $196.3M | 10-07-2021 | not yet reported |
| Most recent reported | $43.9M | 2021-04-05 | MAI |
Change from securitization to the most recent reported valuation: -77.6%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| We Work | not yet reported | ["10-30-2034", "01-31-2029", "12-31-2028", "03-15-2031", "12-31-2026", "07-31-2028"] |
| Arrow International Inc | not yet reported | ["12-31-2030", "09-30-2033", "08-31-2038"] |
| Mountain West Conference | not yet reported | ["05-31-2036", "09-30-2033", "06-30-2030"] |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2022 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 2022 | $63.0M | Current | 4.25% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2023 | $63.0M | Current | 4.25% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2023 | $63.0M | Current | 4.25% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2023 | $63.0M | Current | 4.25% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2023 | $63.0M | Current | 4.25% | not yet reported | not yet reported | not yet reported | $0 | ["09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022", "09-30-2022"] | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2023 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Matured balloon, non-performing | 4.25% | not yet reported | not yet reported | not yet reported | $222,994 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2023 | $63.0M | Current | 4.25% | 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 2023 | $63.0M | Matured balloon, non-performing | 4.25% | not yet reported | not yet reported | not yet reported | $230,427 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2023 | $63.0M | Matured balloon, non-performing | 4.25% | not yet reported | not yet reported | not yet reported | $222,994 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2023 | $63.0M | Matured balloon, non-performing | 4.25% | not yet reported | not yet reported | not yet reported | $230,427 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2023 | $31.3M | Current | 3.40% | 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 2024 | $63.0M | Current | 4.25% | 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 2024 | $63.0M | Current | 4.25% | 1.90 | 1.94 | 100% | $0 | 09-30-2023 | $12.6M | $2.9M | $9.7M | $9.5M |
| March 2024 | $63.0M | Current | 4.25% | 1.90 | 1.94 | 100% | $0 | 09-30-2023 | $12.6M | $2.9M | $9.7M | $9.5M |
| April 2024 | $63.0M | Current | 4.25% | 1.90 | 1.94 | 100% | $0 | 09-30-2023 | $12.6M | $2.9M | $9.7M | $9.5M |
| May 2024 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 2025 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 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 | $63.0M | Current | 4.25% | 1.68 | 1.73 | 52% | $0 | 09-30-2025 | $11.3M | $2.7M | $8.6M | $8.4M |
| February 2026 | $62.9M | Current | 4.25% | 1.54 | 1.59 | 52% | $0 | 09-30-2025 | $11.0M | $3.1M | $7.9M | $7.7M |
| March 2026 | $62.8M | Current | 4.25% | 1.55 | 1.59 | 52% | $0 | 09-30-2025 | $11.0M | $3.1M | $7.9M | $7.7M |
| April 2026 | $62.7M | Current | 4.25% | 1.64 | 1.68 | 73% | $0 | 12-31-2025 | $11.5M | $3.1M | $8.4M | $8.2M |
| May 2026 | $62.7M | Current | 4.25% | 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 | $62.6M | Current | 4.25% | 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 | $62.5M | Current | 4.25% | 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 | $62.4M | Current | 4.25% | 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 | $62.3M | Current | 4.25% | 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 2022-C15; BBCMS Mortgage Trust 2022-C16.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.