DBJPM 2016-C1 - Charts and Resources

The loan transferred to the Special Servicer on 9/20/23 for delinquent payments. The collateral is an outlet mall located in Hagerstown, MD (70-miles northwest of Washington, D.C.). Performance of the property declined during COVID and never recovere d to result in DSCR above 1.0x. NOI was $3.18M and occupancy was 50% as of 3/31/24. Lender has engaged counsel and will dual track workout discussions with foreclosure/receivership. Parties are working towards closing an

7/2/2025 - Loan transferred to special servicing 11/5/2020 for default of its 09/06/2020 payment. Cash flow was not sufficient to support operations or debt service and the Borrower indicated that it was not willing to fund shortfalls going forward. Borrower paid Marriott franchise fees current, satisfied mechanic's lien, and consented to appointment of a receiver in exchange for release of obligations. GF Hotels was appointed as Receiver on 4/20/2021 and has stabilized operations so that cas h flow is now able to cover most operating expenses but not loan payments. The property was listed for sale on 1/31/2025 via Ten-X auction platform with auction completed on 3/19/2025. The winning bidder for $14,750k has signed the PSA and the court has approved the sale. The purchaser is working with Marriott on its franchise approval and the sale is expected to close in August 2025.

12/31/2024 - Lender filed a foreclosure action on 9/28/2023, and a receiver was appointed on 10/16/2023. Lender is working with the Receiver, the City of SF, BART, and the Union Square Alliance to address life/safety issues at the Property and in the neighborhood. Management and Leasing is being handled by JLL who''s working with the Receiver to stabilize the property. Lender is finishing DD and intends to complete a foreclosure in 60-90 days. Lender will consider disposition

12/31/2024 - Lender filed a foreclosure action on 9/28/2023, and a receiver was appointed on 10/16/2023. Lender is working with the Receiver, the City of SF, BART, and the Union Square Alliance to address life/safety issues at the Property and in the neighborhood. Management and Leasing is being handled by JLL who''s working with the Receiver to stabilize the property. Lender is finishing DD and intends to complete a foreclosure in 60-90 days. Lender will consider disposition

12/31/2024 - Lender filed a foreclosure action on 9/28/2023, and a receiver was appointed on 10/16/2023. Lender is working with the Receiver, the City of SF, BART, and the Union Square Alliance to address life/safety issues at the Property and in the neighborhood. Management and Leasing is being handled by JLL who''s working with the Receiver to stabilize the property. Lender is finishing DD and intends to complete a foreclosure in 60-90 days. Lender will consider disposition

12/31/2024 - Lender filed a foreclosure action on 9/28/2023, and a receiver was appointed on 10/16/2023. Lender is working with the Receiver, the City of SF, BART, and the Union Square Alliance to address life/safety issues at the Property and in the neighborhood. Management and Leasing is being handled by JLL who''s working with the Receiver to stabilize the property. Lender is finishing DD and intends to complete a foreclosure in 60-90 days. Lender will consider disposition