← Benchmark 2022-B32 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2022-B32 Mortgage Trust
- Current balance
- $5.8M (December 2023)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- 2.29
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2026-08-06
Property and terms
| Property | 4001 - 4017 Dell Ave |
| Address | 4001 and 4017 Dell Ave; North Bergen, NJ 7047 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 75,600 |
| Year built | 1926 |
| Year last renovated | 2020 |
| Original balance | $5.8M |
| Current balance | $5.8M (December 2023) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 3.85% |
| Current interest rate | 3.85% |
| Origination date | 07-19-2021 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2026-08-06 |
| Prepayment lockout end | 06-05-2026 |
| 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 | $9.5M | 05-11-2021 | MAI |
| Most recent reported | $9.5M | 2021-05-11 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Trophy Trucks | 33,000 | 03-31-2028 |
| Top Gun | 21,800 | 06-30-2028 |
| Camaja Construction | 10,000 | 02-26-2028 |
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 | $5.8M | Current | 3.85% | 2.29 | 2.43 | 100% | $0 | 06-30-2023 | $743,780 | $198,079 | $545,701 | $515,103 |
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 |
|---|---|
| 2026-08-06 | Scheduled maturity passed; the loan is still reported, with status Current in December 2023 |
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 2021-B28 Mortgage Trust; Benchmark 2022-B36 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.