← Citigroup Commercial Mortgage Trust 2019-GC41 (segment D09, CIK 1258361) · Loan annex · CMBS market
- Deal
- Citigroup Commercial Mortgage Trust 2019-GC41 (segment D09, CIK 1258361)
- Current balance
- $70.4M (November 2019)
- Share of deal
- 7.5%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2029-07-01
Property and terms
| Property | Grand Canal Shoppes |
| Address | 3327 & 3377 Las Vegas Boulevard South; Las Vegas, NV 89109 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 759,891 |
| Year built | 1992 |
| Year last renovated | 2007 |
| Original balance | $60.0M |
| Current balance | $70.4M (November 2019) |
| Share of deal balance | 7.5% |
| Interest rate at origination | 3.29% |
| Current interest rate | 3.74% |
| Origination date | 07-12-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-07-01 |
| Prepayment lockout end | 08-05-2022 |
| Yield maintenance end | 04-05-2029 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Deutsche Bank AG, New York Branch |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $141.7M | 06-04-2019 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Venetian Casino Resort | 81,105 | 05-31-2029 |
| TAO | 49,441 | 01-31-2025 |
| Madame Tussauds Las Vegas | 28,235 | 07-31-2024 |
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 2019 | $60.0M | Current | 3.29% | 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 2019 | $70.4M | Current | 3.74% | 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 |
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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.