← Morgan Stanley Capital I Trust 2020-L4 · Loan annex · CMBS market
- Deal
- Morgan Stanley Capital I Trust 2020-L4
- Current balance
- $4.9M (December 2022)
- Share of deal
- not yet reported
- Status
- 60-89 days delinquent
- DSCR (latest)
- 0.88
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2029-03-01
Property and terms
| Property | 170 Mercer Street |
| Address | 170 Mercer Street; New York, NY 10012 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 2,013 |
| Year built | 2000 |
| Year last renovated | 2017 |
| Original balance | $6.2M |
| Current balance | $4.9M (December 2022) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 4.08% |
| Current interest rate | 5.32% |
| Origination date | 06-10-2019 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2029-03-01 |
| Prepayment lockout end | 08-05-2021 |
| Yield maintenance end | 03-05-2029 |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | SMC |
| Current status | 60-89 days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $10.0M | 05-12-2019 | MAI |
| Most recent reported | $10.0M | 2019-05-12 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Shamballa Jewelry | 1,950 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| January 2021 | $6.2M | Current | 4.08% | 1.82 | 1.97 | 75% | $0 | 09-30-2020 | $750,487 | $241,645 | $508,842 | $470,711 |
| December 2022 | $4.9M | 60-89 days delinquent | 5.32% | 0.88 | 0.88 | not yet reported | $66,235 | 06-30-2022 | $495,846 | $263,172 | $232,674 | $232,674 |
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 |
|---|---|
| 2022-05-06 | Transferred to the special servicer |
| December 2022 | First reported 30 or more days delinquent |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.