Argentic Services Company LP - Special Servicer

The Loan transferred to special servicing effective December 9, 2024 due to Imminent Monetary Default. The Loan is current and next due for March 6, 2025. The Borrower requested a transfer to special servicing to propose a modification to the payment structure of the loan. The parties were unable to come to a mutually acceptable agreement and Borrower has indicated that they plan to keep the loan current for the foreseeable future. Hence, the loan will be returned to MS after

Loan transferred to special servicing, effective 8/28/24. The Loan is in default due to Borrower's failure to comply with cash management provisions in the loan agreement. In connection with the non-monetary default, counsel has issued a notice of default and acceleration. Borrower had previously indicated that they would comply with cash management and deposit the excess cash leaked since the cash management trigger date into a lender-controlled reserve account. However, they have since refused to provide the final open items necessary to set up the cash management accounts, deposit the excess cash, and pay all amounts due on the loan. Given the lack of cooperation, the appointment of substitute trustee was filed in connection with a January foreclosure sale. Borrower subsequently filed a TRO to block the January 2025 foreclosure sale, therefore, counsel filed accordingly for the removal of the lawsuit to federal court. The judge assignment in federal court was received and the preliminary injunction hearing occurred on February 25th, 2025. The preliminary injunction was denied and the TRO was dissolved. The SS is logistically preparing to take title while negotiating a possible settlement

Loan transferred to Special Servicing 9/13/23 due to Payment Default. Following the transfer of the Loan, the Special Servicer had initiated enforcement of its remedies, but the parties subsequently entered into a Loan Reinstatement Agreement on 12/29/23. Cash Management has been implemented due to the failure of a DSCR Trigger. The Lender is working with the Master Servicer to provide additional requested documentation and return the loan in the near term.

Transferred 11/19/24 due to Monetary Default. The Loan remains due for 11/6/24 payment. Borrower requested a transfer to SS to negotiate a DIL as it indicated a desire to no longer hold title to the property. SS is preparing to move forward with The DIL, but in the event Borrower and SS are unable to come to an agreement SS will move to enforce its remedies.

Asset transferred to special servicing, effective 12/11/24, due to Imminent Monetary Default. The loan remains current and is due for the March 2025 payment. Borrower indicated that due to the low occupancy at the Property, there is not sufficient cash flow to cover the operating expenses after debt service and conducted an initial capital call with their equity partners to address immediate outstanding accounts payable issues. Borrower has provided a forbearance agreement proposal, which SS is reviewing and will subsequently make a recommendation to the lender in the near term.

Loan transferred to Special Servicing effective 2/24/25 due to imminent default. Hello Letter was noticed and PNA has been executed. Collateral consists of a 65 mixed-service hotels, totaling 6,366 keys. Loan is paid through 2/1/2025. Servicer is

2/11/2025 - Loan transferred to special servicing effective 11/20/24 due to Monetary Default. The Loan remains past due for October 2024 payment. SS and Borrower are working on documenting a reinstatement agreement, which remains subject to Lender approval. If the reinstatement agreement falls through, SS will pivot to enforcement procedures.

2/11/2025 - Asset transferred to special servicing effective January 29th, 2025 due to borrower’s failure to remit the December 2024 and January 2025 loan payments.

2/11/2025 - The Special Servicer took ownership of the asset via a deed-in-lieu of foreclosure agreement on 6/10/2024. The Special Servicer entered into a listing agreement with Matthews REIS to market the property for sale on 11/7/2024 and entered into a listing agreement with Tri State Realty to market the property for lease on 1/6/2025.

2/11/2025 - The Loan transferred to Special Servicing effective 4/11/23 due to Payment Default. An executed PNA is in place. The property was placed under receivership, effective June 2023. Given that the office submarket is severely impaired, SS is evalu ating all options in an effort to maximize recovery on the Loan, including initiating foreclosure. With the court''s approval, the receiver employed a broker to market and sell the asset in September 2023. Presently, the receiver and a prospective buyer are working on documenting a purchase and sale agreement, pursuant to the terms approved by lender. The special servicer initiated a guarantor lawsuit and a final judgement was entered in April 24. ASC is coordinating with counsel on implementing the bes t strategy to collect on the judgment.