BMARK 2019-B10 - Charts and Resources
Data discoverability for CMBS deal BMARK 2019-B10 updated as of 2019-03-18.
Deal Overview
Benchmark 2019-B10 Mortgage Trust's issuance is a U.S. CMBS transaction issued from the BMARK shelf and backed by 46 commercial mortgage loans with an aggregate principal balance of 1.2 billion at issuance, secured by the fee and leasehold interests in 199 properties across 21 U.S. states.Rating Agencies | S&P, Fitch, KBRA | Controlling Class | EIGHTFOLD REAL ESTATE CAPITAL FUND V, L.P. | Depositor | Deutsche Mortgage & Asset Receiving Corporation | Master Servicer | KeyBank National Association | Master Servicer | Midland Loan Services | Special Servicer | Argentic Services Company LP | Certificate Administrator | Computershare Trust Company, N.A. | Operating Advisor | Pentalpha Surveillance | Controlling Class | ES Ventures Holding, Inc. |
Deal Charts
Fund Holdings
Explore a list of funds that include BMARK 2019-B10 bonds in their portfolios, sourced directly from the most recent NPORT-P filings on EDGAR SEC.gov. The funds in this table should have a reporting period end date in the future which means the holdings are current as of the most recent filing.* The FIGI Search url provided for each fund will link you to the OpenFIGI search page to lookup FIGI identifiers.
* Reporting Period represents the reporting period end date from the NPORT-P filing.
* For full disclosures, please visit our disclosures page.
Deal Documents
Links to the deal documents for BMARK 2019-B10.Recent Special Servicing Commentary
Special servicers provide regular updates on the status of troubled loans. Below are recent comments from special servicing reports filed with sec.gov EDGAR for BMARK 2019-B10, giving insights into the current situation and actions being taken.3/11/2025 Loan transferred for Imminent Default on 9/18/24. Collateral consists of a 667,446 NRSF, Class A commercial condominium unit (Property), which is comprised of office on floors 14 through 41 (638K SF) and ground floor retail (26K SF) with in a 42-story, 888,295 SF Class A office building on a 46,740 SF site. Floors 2 through 11 are a separate, non-collateral condominium unit that is currently occupied by Murray Hill Academy. Loan is currently due for 3/6/25. Borrower has requested a modification to reduce the interest rate for two years, defer the repayment of these amounts to Maturity, and change the priority of the Cash Management waterfall. Local counsel has been retained to file for foreclosure and/or receivership, if necessary. Lender’s dual tracking the foreclosure process while discussing Borrower's request.
2/25/2025 Per the 4Q24 Rent Roll - Occupancy is at 96.23%, largest tenant, BOA Technology renewed their lease until 6/30/2035, due to this Analyst recommends removing from Watchlist for Trigger 4C (single tenant occupying greater than 30% lease expires within the next 12 months) and for Trigger 4D (Combination of top 3 tenants with lease expirations within the next 6 months, and that individually occupy at least 5% NRA and cumulatively occupy greater than 30% NRA. 2/23/2025 Any Leases with respect to the Property written after the date hereof, for more than 5,000 square feet (each a ""Major Lease"") shall be subject to the prior written approval of Lender. 2/23/2025 ""Cash Sweep Event"" shall mean the occurrence of: (a) an Event of Default; (b) any Bankruptcy Action of Borrower or Manager; (c) a DSCR Trigger Event; (d) a Boa Technology Trigger Event; or (e) any Mezzanine Loan Default. ""DSCR Trigger Event"" shall mean, that as of the date of determination, the Debt Service Coverage Ratio based on the trailing three (3) month period immediately preceding the date of such determination is less than 1.10 to 1.00. ""Boa Technology Trigger Event"" shall mean the occurrence of any of the following: (i) the Boa Technology Renewal Criteria is not satisfied on or before the date that is twelve (12) months prior to the expiration date under the Boa Technology Lease, (ii) any Bankruptcy Action of Boa Technology, (iii) Boa Technology ""goes dark"", vacates for a period of more than five (5) consecutive Business Days or abandons its premises at the Property or ceases operations at the
3/11/2025 Asset transferred to special servicing effective November 20, 2024 due to Non-monetary Default. Lender and Borrower entered into a forbearance and reinstatement agreement. SS is currently underwriting Borrower's loan assumption request and will provide a recommendation to the Lender in the near term. Lender and Borrower entered into a forbearance and reinstatement agreement that is structured to resolve the ongoing defaults as well as cure the cash
3/11/2025 Loan transferred to Special Servicing on 07/7/2023 due to payment default. Borrower consented to the appointment of a receiver and the receivership was granted on 11.3.23. The receiver has engaged a local third-party leasing and property management company. Special Servicer has countered the DPO offer provided by borrower and borrower's final counter does not demonstrate a clear premium above market value. The Special Servicer is actively pursuing
3/11/2025 Loan transferred to special servicing on 1/10/22 and transferred to ASC as successor Special Servicer on 2/16/23. Lender and former tenant successfully completed settlement agreement on the remaining lease obligations of tenant. Lender h ad the winning bid at the foreclosure sale that occurred 10/25/2023. A lease for 100% of the NRA (2,726 SF) was executed with Joe & The Juice. The tenant is in place and has commenced rent. The Special Servicer has
3/11/2025 Loan transferred to special servicing effective 3/11/24. The loan is in default and remains past due for the February 2024 payment. An executed PNA is in place. The receiver was appointed at the property, effective 10/17/24, and is diligently addressing the various condition issues at the property. SS recently obtained Lender's approval to allow the receiver to conduct repairs on units that have minor condition issues as it continues to evaluate all options in an effort to maximize recovery on the Loan. The work is expected to be completed by early April. Effective 6/28/24, the parties entered into a 90-day forbearance through 9/30/24 to
* The tagged date represents the date of the Edgar sec.gov filing.
* For full disclosures, please visit our disclosures page.
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