← MSWF Commercial Mortgage Trust 2023-2 · Loan annex · CMBS market
- Deal
- MSWF Commercial Mortgage Trust 2023-2
- Current balance
- $50.0M (September 2026)
- Share of deal
- 5.6%
- Status
- Current
- DSCR (latest)
- 2.15
- Occupancy (latest)
- 97%
- Scheduled maturity
- 2033-11-01
Property and terms
| Property | ARUNDEL MILLS AND MARKETPLACE |
| Address | 7000 AND 7600 ARUNDEL MILLS CIRCLE; Hanover, MD 21076 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 1,938,983 |
| Year built | 2000 |
| Year last renovated | not yet reported |
| Original balance | $90.0M |
| Current balance | $50.0M (September 2026) |
| Share of deal balance | 5.6% |
| Interest rate at origination | 7.70% |
| Current interest rate | 7.70% |
| Origination date | 10-05-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-11-01 |
| Prepayment lockout end | 05-31-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Wells Fargo Bank, National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $870.6M | 09-01-2023 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Live Casino Hotel Maryland | 541,193 | 12-31-2050 |
| Bass Pro Shops Outdoor | 127,672 | 10-03-2031 |
| Cinemark Theater | 107,190 | 12-31-2030 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2023 | $90.0M | Current | 7.70% | 1.83 | 1.83 | 98% | $0 | 08-31-2023 | $69.7M | $18.2M | $51.5M | $51.5M |
| January 2024 | $50.0M | Current | 7.70% | 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 |
| February 2024 | $50.0M | Current | 7.70% | 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 |
| March 2024 | $50.0M | Current | 7.70% | 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 |
| April 2024 | $50.0M | Current | 7.70% | 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 |
| May 2024 | $50.0M | Current | 7.70% | 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 |
| June 2024 | $50.0M | Current | 7.70% | 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 |
| July 2024 | $50.0M | Current | 7.70% | 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 |
| August 2024 | $50.0M | Current | 7.70% | 2.04 | 2.13 | 99% | $0 | 03-31-2024 | $18.3M | $4.0M | $14.3M | $13.7M |
| September 2024 | $50.0M | Current | 7.70% | 2.04 | 2.13 | 99% | $0 | 03-31-2024 | $18.3M | $4.0M | $14.3M | $13.7M |
| October 2024 | $50.0M | Current | 7.70% | 1.96 | 2.04 | 99% | $0 | 06-30-2024 | $37.2M | $8.4M | $28.8M | $27.6M |
| November 2024 | $50.0M | Current | 7.70% | 1.96 | 2.04 | 99% | $0 | 06-30-2024 | $37.2M | $8.4M | $28.8M | $27.6M |
| December 2024 | $50.0M | Current | 7.70% | 2.02 | 2.11 | 99% | $0 | 09-30-2024 | $57.6M | $13.0M | $44.6M | $42.8M |
| January 2025 | $34.5M | Current | 5.97% | 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 |
| February 2025 | $50.0M | Current | 7.70% | 2.02 | 2.11 | 99% | $0 | 09-30-2024 | $57.6M | $13.0M | $44.6M | $42.8M |
| March 2025 | $50.0M | Current | 7.70% | 2.03 | 2.11 | 100% | $0 | 12-31-2024 | $77.1M | $17.6M | $59.5M | $57.1M |
| April 2025 | $50.0M | Current | 7.70% | 2.03 | 2.11 | 100% | $0 | 12-31-2024 | $77.1M | $17.6M | $59.5M | $57.1M |
| May 2025 | $50.0M | Current | 7.70% | 2.03 | 2.11 | 100% | $0 | 12-31-2024 | $77.1M | $17.6M | $59.5M | $57.1M |
| June 2025 | $50.0M | Current | 7.70% | 1.91 | 2.00 | 99% | $0 | 03-31-2025 | $18.6M | $4.7M | $13.9M | $13.3M |
| July 2025 | $50.0M | Current | 7.70% | 1.91 | 2.00 | 99% | $0 | 03-31-2025 | $18.6M | $4.7M | $13.9M | $13.3M |
| August 2025 | $50.0M | Current | 7.70% | 1.91 | 2.00 | 99% | $0 | 03-31-2025 | $18.6M | $4.7M | $13.9M | $13.3M |
| September 2025 | $50.0M | Current | 7.70% | 1.93 | 2.02 | 99% | $0 | 06-30-2025 | $37.5M | $9.2M | $28.3M | $27.1M |
| October 2025 | $50.0M | Current | 7.70% | 1.93 | 2.02 | 99% | $0 | 06-30-2025 | $37.5M | $9.2M | $28.3M | $27.1M |
| November 2025 | $50.0M | Current | 7.70% | 1.93 | 2.02 | 99% | $0 | 06-30-2025 | $37.5M | $9.2M | $28.3M | $27.1M |
| December 2025 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| January 2026 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| February 2026 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| March 2026 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| April 2026 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| May 2026 | $50.0M | Current | 7.70% | 1.99 | 2.07 | 99% | $0 | 09-30-2025 | $57.8M | $14.1M | $43.7M | $41.9M |
| June 2026 | $50.0M | Current | 7.70% | 2.12 | 2.20 | 99% | $0 | 03-31-2026 | $20.7M | $5.4M | $15.3M | $14.7M |
| July 2026 | $50.0M | Current | 7.70% | 2.12 | 2.20 | 99% | $0 | 03-31-2026 | $20.7M | $5.4M | $15.3M | $14.7M |
| August 2026 | $50.0M | Current | 7.70% | 2.12 | 2.20 | 99% | $0 | 03-31-2026 | $20.7M | $5.4M | $15.3M | $14.7M |
| September 2026 | $50.0M | Current | 7.70% | 2.15 | 2.24 | 97% | $0 | 06-30-2026 | $41.5M | $10.2M | $31.3M | $30.1M |
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 2024-BNK47; BBCMS Mortgage Trust 2024-C24; BBCMS Mortgage Trust 2024-C24; BBCMS Mortgage Trust 2024-C24; BBCMS Mortgage Trust 2024-C24; BBCMS Mortgage Trust 2024-C26; Benchmark 2023-B40 Mortgage Trust; BMO 2023-C7 Mortgage Trust; BMO 2024-C8 Mortgage Trust; BMO 2024-C9 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.