← JPMDB Commercial Mortgage Securities Trust 2018-C8 (segment D03, CIK 1735646) · Loan annex · CMBS market
- Deal
- JPMDB Commercial Mortgage Securities Trust 2018-C8 (segment D03, CIK 1735646)
- Current balance
- $27.3M (October 2024)
- Share of deal
- 2.9%
- Status
- Real estate owned (REO)
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2023-09-06
Property and terms
| Property | 55 Prospect Street (and 3 more properties) |
| Address | 55 Prospect Street; 117 Adams Street; 77 Sands Street; 81 Prospect Street; Brooklyn, NY (and 3 more) 11201 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2017", "2017", "2017", "2017"] |
| Original balance | $30.0M |
| Current balance | $27.3M (October 2024) |
| Share of deal balance | 2.9% |
| Interest rate at origination | 4.05% |
| Current interest rate | 4.05% |
| Origination date | 08-30-2018 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2023-09-06 |
| Prepayment lockout end | 06-05-2023 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Real estate owned (REO) |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI", "MAI"] |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| 2U NYC, L.L.C. | not yet reported | ["05-31-2030", "07-31-2039", "11-30-2031", "07-31-2031"] |
| Etsy, Inc. | not yet reported | ["07-31-2039", "04-30-2033", "06-30-2034"] |
| Frog Design, Inc. P.O. | not yet reported | ["12-31-2026", "07-31-2031", "09-30-2027"] |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 2024 | $27.3M | Real estate owned (REO) | 4.05% | not yet reported | not yet reported | not yet reported | $92,099 | 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.
Status timeline
| Date | Event |
|---|---|
| 2023-09-06 | Scheduled maturity passed; the loan is still reported, with status Real estate owned (REO) in October 2024 |
| 2023-09-08 | Transferred to the special servicer |
| 2024-05-22 | Loan modified (rate after modification 0.00%; maturity after modification 2023-09-06) |
| October 2024 | First reported 30 or more days delinquent |
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; Benchmark 2018-B8 Mortgage Trust; CD 2018-CD7 Mortgage Trust (segment D03, CIK 1746406).
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.