← Wells Fargo Commercial Mortgage Trust 2020-C57 · Loan annex · CMBS market
- Deal
- Wells Fargo Commercial Mortgage Trust 2020-C57
- Current balance
- $6.3M (November 2024)
- Share of deal
- not yet reported
- Status
- 90+ days delinquent
- DSCR (latest)
- 0.93
- Occupancy (latest)
- 74%
- Scheduled maturity
- 2028-10-06
Property and terms
| Property | WILLOWDAILE SHOPPING CENTER |
| Address | 3823 GUESS ROAD AT HORTON ROAD; Durham, NC 27705 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 93,217 |
| Year built | 1985 |
| Year last renovated | not yet reported |
| Original balance | $6.8M |
| Current balance | $6.3M (November 2024) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 5.53% |
| Current interest rate | 5.53% |
| Origination date | 09-17-2018 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2028-10-06 |
| Prepayment lockout end | 04-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | Rialto Mortgage Finance, LLC |
| Current status | 90+ days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $10.0M | 06-28-2018 | MAI |
| Most recent reported | $8.1M | 2024-02-06 | MAI |
Change from securitization to the most recent reported valuation: -19.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Ollie's Bargain Outlet | 31,477 | 08-31-2026 |
| Family Dollar Stores of North Carolina Inc. #2780 | 9,600 | 07-31-2026 |
| Bithiah Banquets LLC (t0003960) | 4,800 | 06-02-2027 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2024 | $6.3M | 90+ days delinquent | 5.53% | 0.93 | 1.06 | 74% | $541,957 | 09-30-2023 | $669,783 | $301,139 | $368,644 | $324,759 |
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 |
|---|---|
| 2021-09-24 | Transferred to the special servicer |
| November 2024 | First reported 30 or more days delinquent |
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 2017-BNK4 (segment D03, CIK 1698685); Wells Fargo Commercial Mortgage Trust 2018-C47.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.