CWCapital Asset Management - Special Servicer

COVID - Loan transferred to special servicing 6/19/2020 for imminent monetary default. The subject is a 200-room lodging property located in Newark, NJ. The property was built in 2004 and renovated in 2013, 2019, and 2022. The February 2024 inspection found the asset to be in overall good condition at that time. For TTM June 2024, the property achieved 83.7% Occ, $145.18 ADR, and $121.45 RevPAR (108.0 RevPAR index). Elevator cab updates and new curtains for the meeting space are the next capital projects that remains in process. The asset is REO. The special servicer continues to monitor market and asset performance, as well as the capital markets, to determine when to dispose of the REO asset.

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

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

The loan transferred to Special Servicing for imminent monetary default effective 12/28/2023. The loan is secured by three, class A office buildings located in Stamford, CT, built in 1986 and renovated in 2015. The property consists of 811,748 RSF and is currently 78.97% leased. The total debt is comprised of five pari passu loans. There is $11.86MM of outstanding Mezzanine debt. The properties were inspected in March 2024 and found to be in good overall condition. Cash management is in place. A Receiver was appointed by the court as of 5/23/2024. On 2/5/2025, the Trust took title to the collateral via a Strict Foreclosure filing with the Court. Leasing efforts to stabilize the property are underway.

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 ~60% occupied at the end of January 2025. The property was inspected 5/13/2024 and found to be in poor condition at that time, including with 12 down units. PNA signed. The Receiver was appointed on 9/11/2024, which became effective 9/18/2024. The Receiver has been improving collections and turning units for leasing. At least one third party has provided the Receiver with an unsolicited LOI. The Special Servicer is dual tracking foreclosure and potential alternatives.

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. Two of the three buildings are 100% occupied. The third building is 30% occupied. A November 2024 site inspection found the asset in good overall condition. YE 2024 NOI DSCR was 1.01x. 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 result in a resolution. A receiver was appointed in January 2025. Title is expected in 2Q 2025.

3/11/2025 The loan transferred to Special Servicing effective 8/28/2024. The subject is a 14,490 SF single tenant retail property located in Lawrenceville, GA and was built in 2001. Special servicer continues to evaluate potential workout

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 2016. As of February 2025, the subject is 64.9% leased. This is compared to YE 2023 and YE 2022 leased occupancies of 67.1% and 71.3%, respectively. The Property's largest tenant is at lease with an amendment to reduce their footprint by nearly two thirds, while ex tending the term on their remaining premises by 7.5 years. Once finalized, occupancy will decrease to 57.8%. A site inspection was completed in November and noted the Property is in good condition with no observed deferred maintenance. One of three pari pa ssu loans. Discussions with the Borrower regarding a potential loan modification are ongoing.

The loan transferred to Special Servicing effective 9/6/2024 for imminent monetary default. The subject is a 691,705 SF complex located in Durham, NC. The complex consists of 10 buildings that were built between 1985 and 1988. A September 2024 site inspection found the asset in good overall condition. The occupancy as of December 2024 is 62%. The December 2024 T-12 NOI DSCR based on the Borrower's unaudited financials was 1.08x. Cash management has been complemented. A draft budget for 2025 for all 10 buildings was also received, and it projected a YE 2025 DSCR of less than 1.0x. The Lender is in discussions with Borrower about a larger loan modification.

2/11/2025 - The loan transferred to Special Servicing effective 12/30/2024 for payment default. The portfolio consists of two retail properties; a 15,120 SF property located in West Palm Beach, FL and was built in 1999 and a 13,905 SF property located in Carol Stream, IL and was built in 1998. Files are currently under review to determine workout strategies.