BMARK 2018-B5 - Charts and Resources

Loan transferred SS on 7/23/24 for Imminent Default due to cash flow issues. The Property has performed below a 1.00x DSCR since COVID-19. Per the Borrower, InterContinental Hotels Group indicated they will not be renewing the Franchise Agreement upon expiration in June 2028. Additionally, the Borrower put the Property on the market to sell and only received one offer due to the anticipated flag non-renewal. The Borrower has been coming out of pocket to cover operating expense shortfalls and no longer wants to contribute additional capital. Borrower signed a Reservation of Rights Letter. Counsel was retained and a Notice of Default Letter was sent out to Borrower on 12/16/24. GF was appointed as Receiver on 3/11/2025 and will move forward with a Receiver sale anticipated for 9/2025. The collateral is a 3-story, 103-key hotel located in Wheat Ridge, CO. It was acquired in 2018 by the Sponsor, built in 1984, renovated in 2014, and

The loan transferred to Special Servicing effective 9/10/2024 for imminent non-monetary default. The subject is a 1,156,393 SF suburban office complex comprised of five office buildings located in Westchester, IL, built in 1986 and renovated in 201 6. As of June 2025, the subject is 56.9% leased, down from 64.9% leased in Feb-2025. This is compared to YE 2024 and YE 2023 leased occupancies of 61.8% and 67.1%, respectively. The decrease in occupancy from February is due to the Property's second largest tenant signing an amendment to reduce their footprint by nearly 65%, while extending the term on their remaining premises by 7.5 years. A site inspection was completed in November 2024 and reported the Property is in good condition with no observed material deferred maintenance. One of three pari passu loans. The SS is commencing the exercise of remedies to include receivership and foreclosure following a monetary default.