← Benchmark 2023-B39 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2023-B39 Mortgage Trust
- Current balance
- $89.5M (September 2026)
- Share of deal
- 9.9%
- Status
- Current
- DSCR (latest)
- 1.93
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2033-06-06
Property and terms
| Property | 2000 Commerce Center Drive (and 16 more properties) |
| Address | 2000 Commerce Center Drive; 1200 Northrop Road; 3400 Bagcraft Blvd; 690 Unisia Drive; 800 Koomey Road; 3900 W 43rd Street; 540 West Nez Perce; 4255 Thunderbird Lane; 1001 North Madison Ave; 17153 Industrial Highway; 999 North Madison Ave; 407 Sangamore Road; 88 Nesbitt Dr; 310 Hartmann Dr; 101 Commerce Drive; 620 Hardin Street; 3100 E Richmond St.; Franklin, OH (and 16 more) 45005 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2022", "2023", "1967", "1999", "2001", "2010", "1999", "2013"] |
| Original balance | $89.5M |
| Current balance | $89.5M (September 2026) |
| Share of deal balance | 9.9% |
| Interest rate at origination | 6.23% |
| Current interest rate | 6.23% |
| Origination date | 05-19-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-06-06 |
| Prepayment lockout end | 06-05-2025 |
| Yield maintenance end | 12-05-2032 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | DBR Investments Co. Limited, Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $207.3M | 04-01-2023 | not yet reported |
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI"] |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Novolex | not yet reported | ["02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-14-2043", "02-28-2043"] |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| July 2023 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 2023 | $89.5M | Current | 6.23% | 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 2023 | $89.5M | Current | 6.23% | 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 2023 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 2024 | $89.5M | Current | 6.23% | 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 2024 | $89.5M | Current | 6.23% | 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 2024 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 3.84 | 3.84 | 100% | $0 | 03-31-2024 | $5.1M | $3.3M | $1.8M | $1.8M |
| September 2024 | $89.5M | Current | 6.23% | 3.84 | 3.84 | 100% | $0 | 03-31-2024 | $5.1M | $3.3M | $1.8M | $1.8M |
| October 2024 | $89.5M | Current | 6.23% | 3.84 | 3.84 | 100% | $0 | 03-31-2024 | $5.1M | $3.3M | $1.8M | $1.8M |
| November 2024 | $89.5M | Current | 6.23% | 3.84 | 3.84 | 100% | $0 | 03-31-2024 | $5.1M | $3.3M | $1.8M | $1.8M |
| December 2024 | $89.5M | Current | 6.23% | 2.53 | 2.58 | 100% | $0 | 09-30-2024 | $20.4M | $41,982 | $20.4M | $19.9M |
| January 2025 | $89.5M | Current | 6.23% | 2.53 | 2.58 | 100% | $0 | 09-30-2024 | $20.4M | $41,982 | $20.4M | $19.9M |
| February 2025 | $89.5M | Current | 6.23% | 2.53 | 2.58 | 100% | $0 | 09-30-2024 | $20.4M | $41,982 | $20.4M | $19.9M |
| March 2025 | $89.5M | Current | 6.23% | 2.53 | 2.58 | 100% | $0 | 09-30-2024 | $20.4M | $41,982 | $20.4M | $19.9M |
| April 2025 | $89.5M | Current | 6.23% | 2.53 | 2.58 | 100% | $0 | 09-30-2024 | $20.4M | $41,982 | $20.4M | $19.9M |
| May 2025 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 1.93 | 1.98 | 100% | $0 | 03-31-2025 | $3.9M | $7,510 | $3.9M | $3.8M |
| November 2025 | $89.5M | Current | 6.23% | 1.93 | 1.98 | 100% | $0 | 03-31-2025 | $3.9M | $7,510 | $3.9M | $3.8M |
| December 2025 | $89.5M | Current | 6.23% | 1.93 | 1.98 | 100% | $0 | 03-31-2025 | $3.9M | $7,510 | $3.9M | $3.8M |
| January 2026 | $89.5M | Current | 6.23% | 1.89 | 1.95 | 100% | $0 | 09-30-2025 | $15.9M | $498,365 | $15.4M | $14.9M |
| February 2026 | $89.5M | Current | 6.23% | 1.89 | 1.95 | 100% | $0 | 09-30-2025 | $15.9M | $498,365 | $15.4M | $14.9M |
| March 2026 | $89.5M | Current | 6.23% | 1.89 | 1.95 | 100% | $0 | 09-30-2025 | $15.9M | $498,365 | $15.4M | $14.9M |
| April 2026 | $89.5M | Current | 6.23% | 1.89 | 1.95 | 100% | $0 | 09-30-2025 | $15.9M | $498,365 | $15.4M | $14.9M |
| May 2026 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 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 | $89.5M | Current | 6.23% | 1.93 | 1.98 | 100% | $0 | 03-31-2026 | $4.0M | $136,420 | $3.9M | $3.8M |
| September 2026 | $89.5M | Current | 6.23% | 1.93 | 1.98 | 100% | $0 | 03-31-2026 | $4.0M | $136,420 | $3.9M | $3.8M |
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 2023-C21; BMO 2023-C6 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.