← CD 2018-CD7 Mortgage Trust (segment D02, CIK 1746406) · Loan annex · CMBS market
- Deal
- CD 2018-CD7 Mortgage Trust (segment D02, CIK 1746406)
- Current balance
- $27.0M (March 2021)
- Share of deal
- 2.4%
- Status
- Current
- DSCR (latest)
- 1.22
- Occupancy (latest)
- 82%
- Scheduled maturity
- 2028-05-06
Property and terms
| Property | 808 OLIVE RETAIL & PARKING |
| Address | 808 SOUTH OLIVE STREET; Los Angeles, CA 90014 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 277,502 |
| Year built | 1966 |
| Year last renovated | 2017 |
| Original balance | $27.0M |
| Current balance | $27.0M (March 2021) |
| Share of deal balance | 2.4% |
| Interest rate at origination | 5.04% |
| Current interest rate | 5.04% |
| Origination date | 05-04-2018 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-05-06 |
| Prepayment lockout end | 02-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $49.5M | 03-21-2019 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| L&R Auto Park | 3,385 | 03-31-2030 |
| Field management of DTLA | 3,101 | 07-31-2028 |
| Shake Shack | 3,000 | 03-31-2028 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| March 2021 | $27.0M | Current | 5.04% | 1.22 | 1.28 | 82% | $0 | 12-31-2019 | $2.8M | $1.0M | $1.8M | $1.7M |
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 |
|---|---|
| 2020-05-05 | Transferred to the special servicer |
| 2020-08-25 | Loan modified (maturity after modification 2028-05-06) |
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: Benchmark 2018-B4 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.