💬 Servicer Commentary
2026-06-29
Walgreens
David Feldman
Prospectus ID: 56
" 6/11/2026 Borrower has executed the DACA and the Cash Management Account has been established. Special Servicer has sent over the PNA to the Borrower for execution, however Borrower has been unresponsive. Borrower continues to remit payment on tim e each month. As of January 2026, Special Servicer has executed a reinstatement agreement with the Borrower and is currently working to post funds.
💬 Servicer Commentary
2026-06-29
Braddock Metro Center
Kawa Investments LLC
Prospectus ID: 13
" 6/11/2026 The loan transferred to Special Servicing effective 9/24/2024 for non-monetary default. The subject features 3 office buildings totaling 315,589 SF located in Alexandria, VA and was built in 1986. The portfolio as of May 2026 was 79% lea sed. A September 2025 site inspection found the asset in good overall condition. The Borrower refused to set up cash management despite it being triggered. Negotiations between Borrower and special servicer to resolve the cash management issues did not re sult ina resolution. A receiver was appointed in January 2025. The SS foreclosed on the subject collateral with title transferring effective 4/17/2026. The property is now REO. The SS is pursuing new leasing and renewals with existing tenants, in an effor tto fully stabilize the property before a disposition will be recommended.
💬 Servicer Commentary
2026-06-29
90 Hudson
SSC V L.P.
Prospectus ID: 21
" 6/11/2026 Loan transferred on 7/21/25 for Imminent Default. Collateral consists of a ~432K SF office building (Property) in Jersey City, NJ. The largest tenant, Lord Abbett (261K SF, 60% of NRA), vacated on 12/31/24. With Lord Abbett's departure, there is anestimated operating shortfall of ~$7MM for 2025. Borrower would no longer fund shortfalls and wanted to hand back the Property as soon as possible. Property reported YE2025 NOI of $434K and occupancy of ~38%, as of 12/31/25. Notice of Default w as sent on 8/21/25. Loan was accelerated on 8/28/25. Local counsel was retained to file for foreclosure and receivership. Foreclosure was filed on 9/24/25, and Receiver (Colliers) was appointed on 11/5/25. The motion for final judgment was filed on 2/25/2 6, and the final judgment was entered on 3/30/26. Lender is evaluating the loan for a potential note sale. Lender will continue to dual track the foreclosure process while assessing other workout
💬 Servicer Commentary
2026-06-29
Prospectus ID: 10A-2-C4
" 6/11/2026 Subject is a $940,000,000 note that is secured by a senior lien against a 49-story, 1,825,058 square foot, Class A multi-tenant office property located at 825 Eight Avenue in New York City. Collateral also includes 254,554 square feet o f amenity space (restaurant, retail, theater and parking garage). Capital stack includes mezzanine debt. The mezzanine debt was reportedly sold to an investor who accelerated the balance due and scheduled a UCC sale for January 15, 2026. Waterfall was ins ufficient to pay the January 2026 tax bill and the December 2025 note payment. Demand for these payments was made but Borrower has not responded to date. Lender accelerated the subject note and filed for foreclosure. A receiver was appointed and is in pos session of the collateral. Changing the property manager at Lenders election. Request was filed with the Court to expand the Receiver's powers and hire essential consultants and lawyers.
💬 Servicer Commentary
2026-06-29
Gateway Plaza
Thomas R. Von Der Ahe Jr.
Prospectus ID: 26
" 6/11/2026 The loan transferred to Special Servicing for imminent default effective 3/26/2025. Borrower has not complied with requirements of Major Tenant and Debt Service Coverage Ratio Trigger implementation. The subject is an office property tha t consists oftwo buildings located in Santa Clarita, CA and was built in 2006. As of March 2026, the asset is 79.5% occupied. DSCR for December 2025 was 2.15X. The Borrower has signed a PNA. Discussions with the Borrower have commenced. Borrower is curre ntly reviewing proposed modification terms. The property was inspected in summer 2025. The property was found to be in good condition.
💬 Servicer Commentary
2026-06-29
One Parkway North Fee
Kawa Capital Partners LLC
Prospectus ID: 24
" 6/11/2026 The loan transferred into special servicing effective 1/22/2026 due to Imminent Monetary Default (excluding Balloon/Maturity Default and Single Tenant Bankruptcy/Vacate). The loan is due for the January 2026 payment onward. The subject i s the leasedfee. The leasehold interest consists of a 257,394 sq ft property located in Deerfield, IL and built in 1988 and renovated in 2018. The building remains 0% occupied as of May 2026. The Borrower signed a PNA, and discussions between the borrower and special servicer have commenced. To date, borrower and special servicer have been unable to come to terms regarding the on-going defaults. The leasehold interest tenant is in default of their lease. The receiver is evaluating remedies under the groun dlease. An April 2026 site inspection found the collateral in good overall condition. A receiver was appointed in February 2026. The special servicer is evaluating other rights and remedies such as
💬 Servicer Commentary
2026-06-29
Rite Aid Johnstown
Thomas Anderson
Prospectus ID: 57
" 6/11/2026 The loan transferred to Special Servicing effective 6/30/2025 for imminent monetary default. The subject is a 11,115 SF retail property located in Johnstown, PA built in 2016. A site inspection from August 2025 found the asset in good ov erall condition. A receiver was appointed on November 25th, 2025 and has taken control of the collateral. As of March 2026, the property remains fully vacant. Lender anticipates taking title in 2026.
💬 Servicer Commentary
2026-06-29
Prospectus ID: 10A-2-C2
" 6/11/2026 Subject is a $940,000,000 note that is secured by a senior lien against a 49-story, 1,825,058 square foot, Class A multi-tenant office property located at 825 Eight Avenue in New York City. Collateral also includes 254,554 square feet of amenity space (restaurant, retail, theater and parking garage). Capital stack includes mezzanine debt. The mezzanine debt was reportedly sold to an investor who accelerated the balance due and scheduled a UCC sale for January 15, 2026. Waterfall was ins ufficient to pay the January 2026 tax bill and the December 2025 note payment. Demand for these payments was made but Borrower has not responded to date. Lender accelerated the subject note and filed for foreclosure. A receiver was appointed and is in pos session of the collateral. Changing the property manager at Lenders election. Request was filed with the Court to expand the Receiver's powers and hire essential consultants and lawyers.
💬 Servicer Commentary
2026-03-26
599 Broadway
David Topping
Prospectus ID: 17
"3/11/2026 The loan transferred into special servicing effective 1/27/2026 due to Imminent Monetary Default (Single Tenant Bankruptcy/Vacate). The subject is a 4,200 sq ft retail property located in New York, NY bult in 1917 and renovated
💬 Servicer Commentary
2025-06-26
Shawn Stafford
Prospectus ID: 25
The loan transferred to Special Servicing effective 3/19/2024 for monetary default. The subject is a 405-unit multifamily property located in Waterford, MI. The property was built in 1974. The property was 71.9% occupied as of 5/23/2025 and 76% leased. The property was inspected 4/9/2025 and found to be in good overall condition at that time, including with 12 down units. PNA signed. The Receiver was appointed 9/11/2024, which became effective 9/18/2024. The Receiver has dramatically improved collections and continues to improve occupancy and turn units for leasing. At least two third-parties provided the Receiver with unsolicited LOIs. The Receiver is currently marketing the property for sale,
💬 Servicer Commentary
2025-02-25
Philip Barach
Prospectus ID: 29
The loan transferred to Special Servicing for monetary default effective 2/5/2024. The subject is a 66,935 SF office property located in Portland, OR. It was built in 1901 and renovated in 2017. As of the end of December 2024 it was 63 % leased but0% physically occupied as the 63% tenant has reportedly vacated. PNA signed. The property was inspected on 2/21/2024 and found to be in good condition at that time. Special Servicer marketed the note for sale through an online auction platform. The note is under contract for sale with a closing expected by the end of February 2025.