← Benchmark 2022-B35 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2022-B35 Mortgage Trust
- Current balance
- $100.0M (June 2022)
- Share of deal
- not yet reported
- Status
- Matured balloon, performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2032-05-06
Property and terms
| Property | The Reef |
| Address | 1933 South Broadway; Los Angeles, CA 90007 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 806,960 |
| Year built | 1958 |
| Year last renovated | 2019 |
| Original balance | $100.0M |
| Current balance | $100.0M (June 2022) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 5.42% |
| Current interest rate | 5.42% |
| Origination date | 04-13-2022 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2032-05-06 |
| Prepayment lockout end | 01-05-2032 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | DBR Investments Co. Limited |
| Current status | Matured balloon, performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $349.0M | 11-11-2021 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| County of Los Angeles-Dept. of Children & Family Services | 204,484 | 02-28-2030 |
| Maker City LA, LLC | 148,908 | 05-31-2035 |
| Shipfront LLC | 62,124 | 08-31-2035 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2022 | $100.0M | Matured balloon, performing | 5.42% | 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 | $100.0M | Matured balloon, performing | 5.42% | 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: Benchmark 2022-B36 Mortgage Trust; BMO 2022-C2 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.