← CF 2019-CF1 Mortgage Trust · Loan annex · CMBS market
- Deal
- CF 2019-CF1 Mortgage Trust
- Current balance
- $4.5M (June 2024)
- Share of deal
- not yet reported
- Status
- Foreclosure
- DSCR (latest)
- 1.62
- Occupancy (latest)
- 61%
- Scheduled maturity
- 2024-03-01
Property and terms
| Property | Fairfield Inn & Suites Marion |
| Address | 1400 Champion Drive; Marion, IL 62959 |
| Property type | Lodging |
| Units, beds or keys | 89 |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | 2011 |
| Original balance | $4.9M |
| Current balance | $4.5M (June 2024) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 5.73% |
| Current interest rate | 5.73% |
| Origination date | 02-28-2019 |
| Original term | 60 months |
| Amortization term | 324 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2024-03-01 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank Real Estate Capital |
| Loan servicer | not yet reported |
| Originator | CIBC |
| Current status | Foreclosure |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $8.0M | 02-01-2020 | not yet reported |
| Most recent reported | $7.7M | 2021-08-13 | MAI |
Change from securitization to the most recent reported valuation: -3.7%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| July 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| November 2019 | $4.9M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| December 2019 | $4.8M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| January 2020 | $4.8M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| February 2020 | $4.8M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| March 2020 | $4.8M | not yet reported | 5.73% | 0.00 | 0.00 | 0% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| April 2020 | $4.8M | Matured balloon, non-performing | 5.73% | 0.00 | 0.00 | 0% | $29,730 | not yet reported | $0 | $0 | $0 | $0 |
| May 2020 | $4.8M | Matured balloon, non-performing | 5.73% | 0.00 | 0.00 | 0% | $29,731 | not yet reported | $0 | $0 | $0 | $0 |
| June 2020 | $4.8M | 30-59 days delinquent | 5.73% | 1.65 | 1.87 | 77% | $59,461 | 09-30-2019 | $1.5M | $973,161 | $499,701 | $440,786 |
| July 2020 | $4.8M | 60-89 days delinquent | 5.73% | 1.13 | 1.34 | 51% | $89,194 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| August 2020 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $118,924 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| September 2020 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $148,656 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| October 2020 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $178,388 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| November 2020 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $202,208 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| December 2020 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $226,028 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| January 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $249,848 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| February 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $273,680 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| March 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $298,086 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| April 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $321,918 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| May 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $345,738 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| June 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $369,558 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| July 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $393,379 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| August 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $423,123 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| September 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $452,856 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| October 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $482,589 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| December 2021 | $4.8M | 90+ days delinquent | 5.73% | 1.13 | 1.34 | 51% | $542,054 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| January 2022 | $4.7M | not yet reported | 5.73% | 1.13 | 1.34 | 51% | $0 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| February 2022 | $4.7M | not yet reported | 5.73% | 1.13 | 1.34 | 51% | $0 | 03-31-2020 | $1.8M | $1.4M | $478,157 | $404,262 |
| March 2022 | $4.7M | not yet reported | 5.73% | 2.16 | 2.41 | 67% | $0 | 12-31-2021 | $2.3M | $1.4M | $860,347 | $770,525 |
| April 2022 | $4.7M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| May 2022 | $4.7M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2022 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| July 2022 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2022 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2022 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 67% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| October 2022 | $4.6M | not yet reported | 5.73% | 1.89 | 2.10 | 68% | $0 | 06-30-2022 | $2.4M | $1.5M | $914,788 | $824,966 |
| November 2022 | $4.6M | not yet reported | 5.73% | 1.89 | 2.10 | 68% | $0 | 06-30-2022 | $2.4M | $1.5M | $914,788 | $824,966 |
| December 2022 | $4.6M | not yet reported | 5.73% | 1.89 | 2.10 | 68% | $0 | 06-30-2022 | $2.4M | $1.5M | $914,788 | $824,966 |
| January 2023 | $4.6M | not yet reported | 5.73% | 1.89 | 2.10 | 65% | $0 | 06-30-2022 | $2.4M | $1.5M | $914,788 | $824,966 |
| February 2023 | $4.6M | not yet reported | 5.73% | 0.26 | 0.52 | 62% | $0 | 12-31-2022 | $567,659 | $383,249 | $184,410 | $94,588 |
| March 2023 | $4.6M | not yet reported | 5.73% | 2.33 | 2.58 | 62% | $0 | 12-31-2022 | $2.4M | $1.4M | $921,205 | $831,383 |
| April 2023 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 62% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| May 2023 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 62% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| June 2023 | $4.6M | not yet reported | 5.73% | 0.00 | 0.00 | 62% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| July 2023 | $4.5M | not yet reported | 5.73% | 0.00 | 0.00 | 62% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| August 2023 | $4.5M | not yet reported | 5.73% | 0.00 | 0.00 | 62% | $0 | not yet reported | $0 | $0 | $0 | $0 |
| September 2023 | $4.5M | not yet reported | 5.73% | 2.62 | 2.74 | 0% | $0 | 06-30-2023 | $2.4M | $1.4M | $979,557 | $934,646 |
| October 2023 | $4.5M | not yet reported | 5.73% | 2.62 | 2.74 | 69% | $0 | 06-30-2023 | $2.4M | $1.4M | $979,557 | $934,646 |
| November 2023 | $4.5M | not yet reported | 5.73% | 1.55 | 1.80 | 69% | $0 | 09-30-2023 | $1.8M | $1.4M | $481,592 | $414,225 |
| December 2023 | $4.5M | not yet reported | 5.73% | 1.55 | 1.80 | 63% | $0 | 09-30-2023 | $1.8M | $1.4M | $481,592 | $414,225 |
| January 2024 | $4.5M | not yet reported | 5.73% | 1.55 | 1.80 | 63% | $0 | 09-30-2023 | $1.8M | $1.4M | $481,592 | $414,225 |
| February 2024 | $4.5M | not yet reported | 5.73% | 1.55 | 1.80 | 63% | $0 | 09-30-2023 | $1.8M | $1.4M | $481,592 | $414,225 |
| March 2024 | $4.5M | Foreclosure | 5.73% | 1.55 | 1.80 | 61% | $0 | 09-30-2023 | $1.8M | $1.4M | $481,592 | $414,225 |
| April 2024 | $4.5M | Real estate owned (REO) | 5.73% | 1.62 | 1.87 | 61% | $29,732 | 12-31-2023 | $2.4M | $1.7M | $669,161 | $579,339 |
| May 2024 | $4.5M | Foreclosure | 5.73% | 1.62 | 1.87 | 61% | $0 | 12-31-2023 | $2.4M | $1.7M | $669,161 | $579,339 |
| June 2024 | $4.5M | Foreclosure | 5.73% | 1.62 | 1.87 | 61% | $0 | 12-31-2023 | $2.4M | $1.7M | $669,161 | $579,339 |
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 |
|---|---|
| 2020-05-01 | Loan modified (rate after modification 0.00%; maturity after modification 2024-03-01; payment after modification $0) |
| June 2020 | First reported 30 or more days delinquent |
| 2020-07-03 | Transferred to the special servicer |
| 2020-07-07 | Transferred to the special servicer |
| 2021-07-07 | Transferred to the special servicer |
| 2022-02-16 | Returned to the master servicer |
| 2022-02-17 | Returned to the master servicer |
| 2024-03-01 | Scheduled maturity passed; the loan is still reported, with status Foreclosure in June 2024 |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.