← Norwest Asset Sec Corp Mort Ps Thr Cert Ser 1998-1 Trust · Loan annex · CMBS market
- Deal
- Norwest Asset Sec Corp Mort Ps Thr Cert Ser 1998-1 Trust
- Current balance
- $64.5M (September 2021)
- Share of deal
- 6.4%
- Status
- Current
- DSCR (latest)
- 3.40
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2030-04-06
Property and terms
| Property | 1001 North Shoreline Boulevard |
| Address | 1001 North Shoreline Boulevard; Mountain View, CA 95051 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 123,374 |
| Year built | 2017 |
| Year last renovated | not yet reported |
| Original balance | $64.5M |
| Current balance | $64.5M (September 2021) |
| Share of deal balance | 6.4% |
| Interest rate at origination | 3.46% |
| Current interest rate | 3.46% |
| Origination date | 03-15-2018 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 10-05-2027 |
| Yield maintenance end | not yet reported |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | Deutsche Bank AG, acting through its New York Branch |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $171.0M | 04-01-2018 | MAI |
| Most recent reported | $171.0M | 2018-04-01 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Google LLC | 123,374 | 03-31-2030 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 2021 | $64.5M | Current | 3.46% | 3.40 | 3.40 | 100% | $0 | 06-30-2021 | $10.5M | $2.8M | $7.7M | $7.7M |
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.
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: COMM 2018-COR3 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.