← CD 2018-CD7 Mortgage Trust (segment D03, CIK 1746406) · Loan annex · CMBS market
- Deal
- CD 2018-CD7 Mortgage Trust (segment D03, CIK 1746406)
- Current balance
- $12.8M (August 2022)
- Share of deal
- 1.1%
- Status
- not yet reported
- DSCR (latest)
- 0.38
- Occupancy (latest)
- 45%
- Scheduled maturity
- 2028-09-06
Property and terms
| Property | The Center at Carbon Beach |
| Address | 22601 Pacific Coast Highway; Malibu, CA 90265 |
| Property type | Mixed use |
| Units, beds or keys | 0 |
| Net rentable square feet | 20,102 |
| Year built | 1991 |
| Year last renovated | 2014 |
| Original balance | $12.8M |
| Current balance | $12.8M (August 2022) |
| Share of deal balance | 1.1% |
| Interest rate at origination | 4.83% |
| Current interest rate | 4.83% |
| Origination date | 08-30-2018 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2028-09-06 |
| Prepayment lockout end | 06-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | not yet reported |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $21.6M | 07-23-2018 | not yet reported |
| Most recent reported | $10.0M | 2020-09-25 | MAI |
Change from securitization to the most recent reported valuation: -53.7%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Spina Storage | 2,000 | 12-31-2022 |
| Pilates Plus | 1,453 | 09-30-2022 |
| The Agency | 1,328 | 11-30-2022 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2022 | $12.8M | not yet reported | 4.83% | 0.38 | 0.46 | 45% | $0 | 03-31-2022 | $755,386 | $468,487 | $286,900 | $238,053 |
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 |
|---|---|
| 2020-08-11 | Transferred to the special servicer |
| 2021-04-05 | Loan modified (rate after modification 0.00%; maturity after modification 2028-09-06; payment after modification $0) |
| 2021-07-15 | Returned to the master 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-B7 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.