← 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)
- 2.25
- Occupancy (latest)
- 97%
- Scheduled maturity
- 2029-11-06
Property and terms
| Property | ROYAL PALM PLACE |
| Address | 194 SOUTHEAST 1ST AVENUE; Boca Raton, FL 33432 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 462,695 |
| Year built | 1967 |
| Year last renovated | not yet reported |
| Original balance | $40.0M |
| Current balance | $40.0M (January 2023) |
| Share of deal balance | 3.9% |
| Interest rate at origination | 3.81% |
| Current interest rate | 3.81% |
| Origination date | 10-25-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-11-06 |
| Prepayment lockout end | 01-05-2023 |
| Yield maintenance end | 08-05-2029 |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | AREF |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $175.0M | 09-13-2019 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| BUCKHEAD LIFE RESTAURANT GROUP | 10,427 | 12-31-2021 |
| JAMES KING, INC. | 6,000 | 04-30-2023 |
| SHOWTIME BOCA, INC. AND MARILY | 4,480 | 08-31-2020 |
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 | 3.81% | 2.25 | 2.29 | 97% | $0 | 09-30-2022 | $11.8M | $4.5M | $7.3M | $7.2M |
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: Morgan Stanley Capital I Trust 2019-L3; Morgan Stanley Capital I Trust 2020-L4.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.