💬 Servicer Commentary
2026-05-28
561 Clinton Street
Abe Cohen
Prospectus ID: 44
5/11/2026 - The Loan transferred to special servicing effective 2/7/2024 due to payment default. The loan is currently due for the 9/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges) have not been paid. The loan is secured by a mixed-use building in Brooklyn, NY containing both retail (4) and multifamily (4) units. Special Servicer was seeking to resume reinstatement discussions, though the loan has remained delinquent. Legal counsel has been engaged and the deb t formally demanded and accelerated. Foreclosure complaint filed in Q4 2024. Updated appraisal is being finalized. Note sale effort launched late June 2025, though special servicer ultimately determined to proceed with foreclosure rather than selling the note. Special servicer has sought a receiver and is awaiting a ruling from the court. MSJ filed late Q1 2026.
💬 Servicer Commentary
2026-05-28
Portfolio (3 Multifamily properties)
Matthew J. Schmidt
Prospectus ID: 33
5/11/2026 - Loan transferred to Special Servicing effective 1/28/25 due to payment default as the loan was due for the 11/6/24 payment. Counsel was retained and a default and acceleration notice was sent to Borrower. Borrower has not signed the P NA. Borrower initially sent partial payments but has not sent funds since February 2025. Cash management was established in June 2025; however, no rents have been deposited to date. Borrower has expressed interest in reinstating the loan; however, has not been remitting payments. Loan is paid through February 2025. Special Servicer is dual tracking foreclosure and receivership. Receivership hearing occurred in October 2025 and judge did not appoint a receiver. Court ordered mediation was held in November 2025, was continued to April 2026 and further continued to May 2026.
💬 Servicer Commentary
2026-05-28
2015 Walnut Street
Abe Cohen
Prospectus ID: 48
5/11/2026 - The Loan transferred to special servicing effective 2/13/2025 due to payment default. The loan is currently due for the 12/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges) have not been paid. The lo an is secured by an 8-unit multifamily property (with one retail unit) in Philadelphia, PA. Legal counsel has been engaged and the debt formally demanded and accelerated. Updated appraisal has been completed. Note sale effort launched late June 2025, though special servicer ultimately determined to proceed with foreclosure rather than selling the note. MSJ filed by lender in April 2026. Receiver motion from lender also pending with the court, which Borrower has
💬 Servicer Commentary
2026-05-28
Prospectus ID: 10A1
5/11/2026 - Loan transferred to Special Servicing effective 4/16/26 due to imminent default resulting from the recent Bankruptcy Filing of the parent company of single tenant Saks & Company, LLC. Collateral is a 822,771-sf warehouse distribution c enter in Wilkes Barre, PA fully leased to Saks. PNA has been not yet been signed. Loan is paid to 4/6/25. Trust counsel is reviewing the Loan file. Updated appraisal is in process.
💬 Servicer Commentary
2026-05-28
Prospectus ID: 3A16
5/11/2026 - In November 2025, Special Servicer closed on a Modification Agreement curing the defaults of both our senior mortgage loan and of the four subordinate mezzanines. Next step is Return to Master Servicer. Remaining RTMS requirements include curing certain liens on the Property, approval of the late-submitted 2026 budget, and formalizing a change of management company which is pending RAC and documentation. As of 4/23/26, the majority of the liens have been cured, RAC approval is in process, and the 2026 budget is in late stages of approval. Consequently, RTMS target is 6/30/26.
💬 Servicer Commentary
2026-05-28
Prospectus ID: 3A1
5/11/2026 - In November 2025, Special Servicer closed on a Modification Agreement curing the defaults of both our senior mortgage loan and of the four subordinate mezzanines. Next step is Return to Master Servicer. Remaining RTMS requirements include curing certain liens on the Property, approval of the late-submitted 2026 budget, and formalizing a change of management company which is pending RAC and documentation. As of 4/23/26, the majority of the liens have been cured, RAC approval is in process, and the 2026 budget is in late stages of approval. Consequently, RTMS target is 6/30/26.
💬 Servicer Commentary
2026-05-28
Prospectus ID: 10A4
5/11/2026 - Loan transferred to Special Servicing effective 4/16/26 due to imminent default resulting from the recent Bankruptcy Filing of the parent company of single tenant Saks & Company, LLC. Collateral is a 822,771-sf warehouse distribution c enter in Wilkes Barre, PA fully leased to Saks. PNA has been not yet been signed. Loan is paid to 4/6/25. Trust counsel is reviewing the Loan file. Updated appraisal is in process.