JPMCC 2016-JP2 - Charts and Resources

The loan transferred SS due to a Payment Default; currently due for the 7/1/2024 debt service payment. The loan is secured by a 101K sf, 5-story plus basement, creative office building located in the Philadelphia CBD. The property was constructed in 1908 / 1991. The subject was a former industrial building that had been converted to an office complex at the northeast corner of Willow and North 8th Street in the Callowhill section of Philadelphia. Occupancy at the property was 30% as of 1Q25. Loa n is currently being cash managed due to a DSCR trigger. Per Borrower rep, Borrower is attempting to refinance. Per Borrower, they have secured various government approval to repurpose property, but is still waiting on new lender's formal commitment. Special Servicer will continue to discuss possible alternatives to foreclosure with the Borrower while simultaneously pursuing foreclosure. Lender has requested court to implement a Receiver.

The loan transferred to the Special Servicer on 3/15/24 for delinquent payments. The collateral includes a 182K SF office building in Denver, CO. The property has seen occupancy decline since COVID, which has impacted cash flow. Borrower has funded shortfalls until the default. As of YE24 NOI was $597K and occupancy was 55%. Lender has engaged counsel and will dual track foreclosure with workout discussions. A receiver has been appointed.

07/03/25: Loan transferred to special servicing on 05/08/25 for imminent monetary default. Loan is secured by a 28-story, 662,708 sf office building in the central business district of Baltimore, MD. The largest tenant, T Rowe Price (446,901 sf, 6 7.44% nrsf) vacated in April 2025. Borrower advised that it would not fund the shortfall and requested that a receiver be appointed.

07/03/25: Loan transferred to special servicing on 05/08/25 for imminent monetary default. Loan is secured by a 28-story, 662,708 sf office building in the central business district of Baltimore, MD. The largest tenant, T Rowe Price (446,901 sf, 6 7.44% nrsf) vacated in April 2025. Borrower advised that it would not fund the shortfall and requested that a receiver be appointed.

07/03/25: Loan transferred to special servicing on 05/08/25 for imminent monetary default. Loan is secured by a 28-story, 662,708 sf office building in the central business district of Baltimore, MD. The largest tenant, T Rowe Price (446,901 sf, 6 7.44% nrsf) vacated in April 2025. Borrower advised that it would not fund the shortfall and requested that a receiver be appointed.

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

The Borrower was unable to continue making monthly loan payments, due to insufficient Cash Flow. Notice of Default was issued 9/18/2024. Marriott flag was terminated on 12/16/2024. Receiver was appointed on 12/16/24. New Wyndham Franchise Agreement was executed and reservation system was turned on 12/23/2024. Lender has engaged Legal Counsel to commence enforcement of remedies.

07/03/25: Loan transferred to special servicing on 05/08/25 for imminent monetary default. Loan is secured by a 28-story, 662,708 sf office building in the central business district of Baltimore, MD. The largest tenant, T Rowe Price (446,901 sf, 6 7.44% nrsf) vacated in April 2025. Borrower advised that it would not fund the shortfall and requested that a receiver be appointed.

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