← 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
- $19.1M (March 2021)
- Share of deal
- 1.7%
- Status
- Current
- DSCR (latest)
- 1.05
- Occupancy (latest)
- 73%
- Scheduled maturity
- 2028-06-06
Property and terms
| Property | KONA COAST |
| Address | 74-5586 PALANI ROAD; Kailua-Kona, HI 96740 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 81,474 |
| Year built | 1975 |
| Year last renovated | 2018 |
| Original balance | $19.1M |
| Current balance | $19.1M (March 2021) |
| Share of deal balance | 1.7% |
| Interest rate at origination | 5.09% |
| Current interest rate | 5.09% |
| Origination date | 05-14-2018 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 84 months |
| Scheduled maturity | 2028-06-06 |
| Prepayment lockout end | 03-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | Deutsche Bank AG, acting through its New York Branch |
| Current status | Current |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $28.0M | 01-04-2018 | MAI |
| Most recent reported | $23.9M | 2020-08-24 | MAI |
Change from securitization to the most recent reported valuation: -14.6%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Puna Plantation Hawaii Ltd | 28,422 | 01-31-2029 |
| O'REILLY AUTO ENTERPRISES | 9,469 | 11-09-2023 |
| Fun Factory Inc | 5,120 | 01-31-2027 |
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 | $19.1M | Current | 5.09% | 1.05 | 1.05 | 73% | $0 | 06-30-2020 | $1.2M | $664,280 | $526,221 | $526,221 |
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 |
|---|---|
| 2020-06-11 | Transferred to the special servicer |
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.