← Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22 · Loan annex · CMBS market
- Deal
- Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22
- Current balance
- $40.0M (January 2023)
- Share of deal
- 3.9%
- Status
- Current
- DSCR (latest)
- 2.87
- Occupancy (latest)
- 88%
- 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 | 1999 |
| Year last renovated | 2007 |
| Original balance | $40.0M |
| Current balance | $40.0M (January 2023) |
| Share of deal balance | 3.9% |
| Interest rate at origination | 3.74% |
| Current interest rate | 3.74% |
| Origination date | 06-03-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-07-01 |
| Prepayment lockout end | 02-28-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | MSBNA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.64B | 04-03-2019 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| SHOWROOM SPACE | 38,920 | 05-31-2029 |
| VENETIAN CASINO RESORT | 34,088 | 07-31-2025 |
| MADAME 'TUSSAUD LAS VEGAS | 28,000 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| January 2023 | $40.0M | Current | 3.74% | 2.87 | 2.94 | 88% | $0 | 06-30-2022 | $52.3M | $9.9M | $42.4M | $41.4M |
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.
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: Bank 2019-BNK19; Bank 2019-BNK20; Bank 2019-BNK21; Benchmark 2019-B12 Mortgage Trust; Benchmark 2019-B13 Mortgage Trust; Benchmark 2019-B14 Mortgage Trust; Benchmark 2019-B9 Mortgage Trust (segment D03, CIK 1764759); CF 2019-CF2 Mortgage Trust; CF 2019-CF2 Mortgage Trust; Citigroup Commercial Mortgage Trust 2019-GC41 (segment D01, CIK 1783287).
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.