← Benchmark 2022-B35 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2022-B35 Mortgage Trust
- Current balance
- $60.0M (September 2026)
- Share of deal
- 5.4%
- Status
- 90+ days delinquent
- DSCR (latest)
- 0.40
- Occupancy (latest)
- 50%
- Scheduled maturity
- 2032-04-01
Property and terms
| Property | Industry RiNo Station |
| Address | 3858 Walnut Street and 3827 North Lafayette Street; Denver, CO 80205 |
| Property type | Office |
| Units, beds or keys | 0 |
| Net rentable square feet | 177,697 |
| Year built | 2017 |
| Year last renovated | not yet reported |
| Original balance | $60.0M |
| Current balance | $60.0M (September 2026) |
| Share of deal balance | 5.4% |
| Interest rate at origination | 5.21% |
| Current interest rate | 5.21% |
| Origination date | 03-23-2022 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2032-04-01 |
| Prepayment lockout end | 05-31-2024 |
| Yield maintenance end | 11-30-2031 |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | JPMorgan Chase Bank, National Association |
| Current status | 90+ days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $97.5M | 02-04-2022 | MAI |
| Most recent reported | $28.5M | 2025-08-20 | MAI |
Change from securitization to the most recent reported valuation: -70.7%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Dispatch Health Management | 29,675 | 08-31-2026 |
| Intrinsic LLC | 6,607 | 05-31-2026 |
| UiPath Inc | 5,525 | 06-30-2025 |
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 | $60.0M | Current | 5.21% | 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 | $60.0M | Current | 5.21% | 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 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2022 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2022 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2022 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| November 2022 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| December 2022 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| January 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| February 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| March 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| April 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| May 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| June 2023 | $60.0M | not yet reported | 5.21% | 1.26 | 1.36 | 94% | $0 | 09-30-2022 | $5.6M | $2.4M | $3.2M | $3.0M |
| July 2023 | $60.0M | Matured balloon, non-performing | 5.21% | 0.00 | 0.00 | 89% | $260,026 | not yet reported | $0 | $0 | $0 | $0 |
| August 2023 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 89% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2023 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 89% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2023 | $60.0M | not yet reported | 5.21% | 0.00 | 0.00 | 87% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| November 2023 | $60.0M | not yet reported | 5.21% | 1.39 | 1.49 | 87% | $0 | 06-30-2023 | $3.9M | $1.6M | $2.4M | $2.2M |
| December 2023 | $60.0M | not yet reported | 5.21% | 1.39 | 1.49 | 75% | $0 | 06-30-2023 | $3.9M | $1.6M | $2.4M | $2.2M |
| January 2024 | $60.0M | not yet reported | 5.21% | 1.39 | 1.49 | 75% | $0 | 06-30-2023 | $3.9M | $1.6M | $2.4M | $2.2M |
| February 2024 | $60.0M | not yet reported | 5.21% | 1.32 | 1.41 | 75% | $0 | 09-30-2023 | $5.7M | $2.4M | $3.4M | $3.1M |
| March 2024 | $60.0M | not yet reported | 5.21% | 1.32 | 1.41 | 75% | $0 | 09-30-2023 | $5.7M | $2.4M | $3.4M | $3.1M |
| April 2024 | $60.0M | not yet reported | 5.21% | 1.32 | 1.41 | 75% | $0 | 09-30-2023 | $5.7M | $2.4M | $3.4M | $3.1M |
| May 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| June 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| July 2024 | $60.0M | Matured balloon, non-performing | 5.21% | 1.27 | 1.37 | 78% | $260,026 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| August 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| September 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| October 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| November 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 78% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| December 2024 | $60.0M | not yet reported | 5.21% | 1.27 | 1.37 | 75% | $0 | 12-31-2023 | $7.6M | $3.2M | $4.3M | $4.0M |
| January 2025 | $60.0M | not yet reported | 5.21% | 1.14 | 1.24 | 75% | $0 | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| February 2025 | $60.0M | 30-59 days delinquent | 5.21% | 1.14 | 1.24 | 75% | $537,388 | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| March 2025 | $60.0M | 60-89 days delinquent | 5.21% | 1.14 | 1.24 | 75% | $780,171 | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| April 2025 | $60.0M | 90+ days delinquent | 5.21% | 1.14 | 1.24 | 75% | $1.0M | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| May 2025 | $60.0M | 30-59 days delinquent | 5.21% | 1.14 | 1.24 | 75% | $260,125 | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| June 2025 | $60.0M | 90+ days delinquent | 5.21% | 1.14 | 1.24 | 75% | $1.6M | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| July 2025 | $60.0M | 90+ days delinquent | 5.21% | 1.14 | 1.24 | 75% | $1.8M | 09-30-2024 | $5.8M | $2.8M | $2.9M | $2.7M |
| August 2025 | $60.0M | Matured balloon, non-performing | 5.21% | 0.40 | 0.50 | 50% | $528,921 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| September 2025 | $60.0M | 30-59 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $797,717 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| October 2025 | $60.0M | 30-59 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $789,046 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| November 2025 | $60.0M | 60-89 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $1.1M | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| December 2025 | $60.0M | Matured balloon, non-performing | 5.21% | 0.40 | 0.50 | 50% | $117,291 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| January 2026 | $60.0M | Matured balloon, non-performing | 5.21% | 0.40 | 0.50 | 50% | $121,201 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| February 2026 | $60.0M | 30-59 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $389,996 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| March 2026 | $60.0M | not yet reported | 5.21% | 0.40 | 0.50 | 50% | $0 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| April 2026 | $60.0M | not yet reported | 5.21% | 0.40 | 0.50 | 50% | $0 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| May 2026 | $60.0M | 30-59 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $386,087 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| June 2026 | $60.0M | 60-89 days delinquent | 5.21% | 0.40 | 0.50 | 50% | $507,287 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| July 2026 | $60.0M | 90+ days delinquent | 5.21% | 0.40 | 0.50 | 50% | $767,412 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| August 2026 | $60.0M | 90+ days delinquent | 5.21% | 0.40 | 0.50 | 50% | $745,814 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
| September 2026 | $60.0M | 90+ days delinquent | 5.21% | 0.40 | 0.50 | 50% | $867,050 | 06-30-2025 | $2.2M | $1.4M | $783,856 | $630,507 |
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 |
|---|---|
| February 2025 | First reported 30 or more days delinquent |
| 2025-03-11 | Transferred to the special servicer |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.