← Benchmark 2023-V2 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2023-V2 Mortgage Trust
- Current balance
- $65.0M (September 2026)
- Share of deal
- 8.1%
- Status
- Current
- DSCR (latest)
- 2.16
- Occupancy (latest)
- 76%
- Scheduled maturity
- 2028-04-06
Property and terms
| Property | Harborside 2-3 |
| Address | 150 and 200 Hudson Street a/k/a 200 & 210 Hudson Street; Jersey City, NJ 7302 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 1,584,607 |
| Year built | 1930 |
| Year last renovated | 2021 |
| Original balance | $65.0M |
| Current balance | $65.0M (September 2026) |
| Share of deal balance | 8.1% |
| Interest rate at origination | 5.84% |
| Current interest rate | 5.84% |
| Origination date | 04-04-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-04-06 |
| Prepayment lockout end | 10-05-2027 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc., Bank of Montreal |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $396.0M | 02-07-2023 | MAI |
| Most recent reported | $396.0M | 2023-02-07 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| MUFG BANK LTD. - H3 | 137,076 | 08-31-2029 |
| ETRADE Financial | 132,265 | 01-31-2031 |
| COLLECTORS UNIVERSE INC | 130,419 | 11-30-2038 |
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 2023 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 1.55 | 1.66 | 78% | $0 | 09-30-2023 | $44.5M | $20.1M | $24.4M | $22.8M |
| January 2024 | $65.0M | Current | 5.84% | 1.55 | 1.66 | 78% | $0 | 09-30-2023 | $44.5M | $20.1M | $24.4M | $22.8M |
| February 2024 | $65.0M | Current | 5.84% | 1.56 | 1.68 | not yet reported | $0 | 12-31-2023 | $44.4M | $21.7M | $22.7M | $21.1M |
| March 2024 | $65.0M | Current | 5.84% | 1.56 | 1.68 | 76% | $0 | 12-31-2023 | $44.4M | $21.7M | $22.7M | $21.1M |
| April 2024 | $65.0M | Current | 5.84% | 1.56 | 1.68 | 76% | $0 | 12-31-2023 | $44.4M | $21.7M | $22.7M | $21.1M |
| May 2024 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 70% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| September 2024 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 70% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| October 2024 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 70% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| November 2024 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 75% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| December 2024 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 75% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| January 2025 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 75% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| February 2025 | $65.0M | Current | 5.84% | 1.86 | 1.99 | 75% | $0 | 06-30-2024 | $46.6M | $19.8M | $26.8M | $25.1M |
| March 2025 | $65.0M | Current | 5.84% | 1.64 | 1.77 | 71% | $0 | 12-31-2024 | $46.8M | $23.2M | $23.6M | $21.9M |
| April 2025 | $65.0M | Current | 5.84% | 1.64 | 1.77 | 71% | $0 | 12-31-2024 | $46.8M | $23.2M | $23.6M | $21.9M |
| May 2025 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 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 | $65.0M | Matured balloon, performing | 5.84% | not yet reported | not yet reported | not yet reported | $326,738 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2025 | $65.0M | Current | 5.84% | 1.43 | 1.56 | 72% | $0 | 03-31-2025 | $11.3M | $6.1M | $5.2M | $4.8M |
| October 2025 | $65.0M | Matured balloon, performing | 5.84% | 1.48 | 1.61 | 72% | $316,198 | 06-30-2025 | $45.1M | $23.7M | $21.4M | $19.7M |
| November 2025 | $65.0M | Current | 5.84% | 1.48 | 1.61 | 72% | $0 | 06-30-2025 | $45.1M | $23.7M | $21.4M | $19.7M |
| December 2025 | $65.0M | Matured balloon, performing | 5.84% | 1.48 | 1.61 | 72% | $316,198 | 06-30-2025 | $45.1M | $23.7M | $21.4M | $19.7M |
| January 2026 | $65.0M | Matured balloon, performing | 5.84% | 1.46 | 1.59 | 73% | $326,738 | 09-30-2025 | $44.1M | $23.0M | $21.1M | $19.4M |
| February 2026 | $65.0M | Matured balloon, performing | 5.84% | 1.57 | 1.69 | 74% | $326,738 | 12-31-2025 | $44.5M | $22.0M | $22.6M | $20.9M |
| March 2026 | $65.0M | Matured balloon, performing | 5.84% | 1.57 | 1.69 | 74% | $295,118 | 12-31-2025 | $44.5M | $22.0M | $22.6M | $20.9M |
| April 2026 | $65.0M | Current | 5.84% | 1.57 | 1.69 | 74% | $0 | 12-31-2025 | $44.5M | $22.0M | $22.6M | $20.9M |
| May 2026 | $65.0M | Current | 5.84% | 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 | $65.0M | Current | 5.84% | 1.74 | 1.87 | 74% | $0 | 03-31-2026 | $13.4M | $7.2M | $6.2M | $5.8M |
| July 2026 | $65.0M | Current | 5.84% | 1.74 | 1.87 | 74% | $0 | 03-31-2026 | $13.4M | $7.2M | $6.2M | $5.8M |
| August 2026 | $65.0M | Current | 5.84% | 2.16 | 2.29 | 76% | $0 | 06-30-2026 | $54.2M | $23.7M | $30.4M | $28.7M |
| September 2026 | $65.0M | Current | 5.84% | 2.16 | 2.29 | 76% | $0 | 06-30-2026 | $54.2M | $23.7M | $30.4M | $28.7M |
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 |
|---|---|
| 2025-07-31 | Loan modified (rate after modification 0.00%; maturity after modification 2028-04-06) |
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: BANK5 2023-5YR3; Benchmark 2023-B39 Mortgage Trust; Benchmark 2023-V3 Mortgage Trust; Benchmark 2023-V4 Mortgage Trust; BMO 2023-5C1 Mortgage Trust (segment D01, CIK 1984246); BMO 2023-5C2 Mortgage Trust; BMO 2023-5C2 Mortgage Trust; BMO 2023-C5 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.