← MSWF Commercial Mortgage Trust 2023-2 · Loan annex · CMBS market
- Deal
- MSWF Commercial Mortgage Trust 2023-2
- Current balance
- $40.0M (September 2026)
- Share of deal
- 4.5%
- Status
- Current
- DSCR (latest)
- 1.19
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2033-11-06
Property and terms
| Property | CROSS COUNTY PLAZA |
| Address | 4348 OKEECHOBEE BOULEVARD; West Palm Beach, FL 33409 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 347,093 |
| Year built | 1991 |
| Year last renovated | 1998 |
| Original balance | $40.0M |
| Current balance | $40.0M (September 2026) |
| Share of deal balance | 4.5% |
| Interest rate at origination | 7.66% |
| Current interest rate | 7.66% |
| Origination date | 10-13-2023 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2033-11-06 |
| Prepayment lockout end | 08-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $61.6M | 10-10-2023 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Presidente Supermarket No. 53 Inc. | 53,291 | 02-09-2041 |
| Beauty Master Cam | 52,813 | 04-16-2035 |
| Ollie's Bargain Outlet | 37,693 | 12-31-2031 |
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 | $40.0M | Current | 7.66% | 1.22 | 1.22 | 99% | $0 | 07-31-2023 | $5.3M | $1.5M | $3.8M | $3.8M |
| January 2024 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 | $40.0M | Current | 7.66% | 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 |
| September 2024 | $40.0M | Current | 7.66% | 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 |
| October 2024 | $40.0M | Current | 7.66% | 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 |
| November 2024 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $263,672 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| December 2024 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $255,167 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| January 2025 | $35.0M | Current | 5.53% | 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 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $263,672 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| March 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $238,156 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| April 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $263,672 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| May 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.00 | 1.02 | 99% | $255,167 | 06-30-2024 | $2.8M | $1.2M | $1.6M | $1.6M |
| June 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.06 | 1.08 | 100% | $263,672 | 12-31-2024 | $5.7M | $2.3M | $3.4M | $3.3M |
| July 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.06 | 1.08 | 100% | $518,839 | 12-31-2024 | $5.7M | $2.3M | $3.4M | $3.3M |
| August 2025 | $40.0M | Current | 7.66% | 1.15 | 1.17 | 100% | $0 | 03-31-2025 | $1.5M | $606,106 | $894,757 | $877,403 |
| September 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.15 | 1.17 | 100% | $263,672 | 03-31-2025 | $1.5M | $606,106 | $894,757 | $877,403 |
| October 2025 | $40.0M | Matured balloon, non-performing | 7.66% | 1.15 | 1.17 | 100% | $255,167 | 03-31-2025 | $1.5M | $606,106 | $894,757 | $877,403 |
| November 2025 | $40.0M | Current | 7.66% | 1.15 | 1.17 | 100% | $0 | 03-31-2025 | $1.5M | $606,106 | $894,757 | $877,403 |
| December 2025 | $40.0M | Current | 7.66% | 1.15 | 1.17 | 100% | $0 | 03-31-2025 | $1.5M | $606,106 | $894,757 | $877,403 |
| January 2026 | $40.0M | Current | 7.66% | 1.17 | 1.19 | 100% | $0 | 09-30-2025 | $4.5M | $1.7M | $2.8M | $2.7M |
| February 2026 | $40.0M | Current | 7.66% | 1.17 | 1.19 | 100% | $0 | 09-30-2025 | $4.5M | $1.7M | $2.8M | $2.7M |
| March 2026 | $40.0M | Current | 7.66% | 1.17 | 1.19 | 100% | $0 | 09-30-2025 | $4.5M | $1.7M | $2.8M | $2.7M |
| April 2026 | $40.0M | Matured balloon, non-performing | 7.66% | 1.17 | 1.19 | 100% | $263,672 | 09-30-2025 | $4.5M | $1.7M | $2.8M | $2.7M |
| May 2026 | $40.0M | Current | 7.66% | 1.17 | 1.19 | 100% | $0 | 09-30-2025 | $4.5M | $1.7M | $2.8M | $2.7M |
| June 2026 | $40.0M | Current | 7.66% | 1.19 | 1.21 | 100% | $0 | 12-31-2025 | $6.0M | $2.3M | $3.8M | $3.7M |
| July 2026 | $40.0M | Current | 7.66% | 1.19 | 1.21 | 100% | $0 | 12-31-2025 | $6.0M | $2.3M | $3.8M | $3.7M |
| August 2026 | $40.0M | Current | 7.66% | 1.19 | 1.21 | 100% | $0 | 12-31-2025 | $6.0M | $2.3M | $3.8M | $3.7M |
| September 2026 | $40.0M | Current | 7.66% | 1.19 | 1.21 | 100% | $0 | 12-31-2025 | $6.0M | $2.3M | $3.8M | $3.7M |
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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.