MSC 2019-L2
Explore verified charts, linked entities, and recent activity for this CMBS deal. Data last updated March 30, 2026.2026-03-30
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Quick Answer
What is MSC 2019-L2? A US commercial mortgage-backed security ($935.1M; 45 loans; 105 properties).
Identifiers: Series msc2019-l2; CIK 1766660.
Unique value: Dealcharts provides computed pool metrics, time-series performance analysis, and cross-deal comparisons not available in raw SEC EDGAR filings.
Sources: SEC EDGAR CIK 1766660.
Machine-readable data: https://dealcharts.org/llm/facts/msc2019-l2.json · API docs
📋 Quick Links
Who's Involved#
Rating AgenciesS&P, Fitch, MSTAR
Operating AdvisorPentalpha Surveillance
DepositorMorgan Stanley Capital I Inc.
Master ServicerMidland Loan Services
Special ServicerRialto Capital Advisors
Deal Metrics
Key performance indicators and statistics tracking the deal's current status and history.Deal Overview
Original Trust Amount
$935,119,000Current Trust Amount
$862,197,714Number of Loans
45Number of Properties
105Average Loan Size
$18,702,380Portfolio Characteristics
Weighted Average Interest Rate
5.0%Weighted Average Term
118 monthsWA DSCR (NCF) at Issuance
2.27xWA DSCR (NCF) Current
1.89xOriginal Valuation
$5,306,121,960Current Valuation
$4,915,771,960Key Dates
Origination Date
2/15/2019Latest Valuation
11/4/2025Latest Transfer
4/2/2025Latest Return
9/8/2025Latest Modification
6/30/2025Special Servicing Status
Loans in Special Servicing
4Special Servicing Balance
$93,036,554Loans Returned to Master
5Balance Returned
$83,371,028Avg Time in Special Servicing
1751 daysAvg Time to Return
419 daysValuation Changes
Updated Valuations
13Total Updated Value
$690,070,000Value Change Amount
-$321,630,000Value Change Percentage
-498.4%Modifications
Number of Modifications
3Modified Balance
$69,521,894Deal Charts
Charts showing deal performance over time.
Fund Exposure#
Source: NPORT-P & related disclosures • 2026-02-25| Fund Name | Filing Date | FIGI | LEI | Tranches | Total Value | Reporting Period |
|---|---|---|---|---|---|---|
| BNY Mellon Global Fixed Income Fund | 2022-05-26 | Search FIGI | Lookup LEI | A-3 | $9,957,314 | 2022-12-31 |
| JPMorgan Income Builder Fund | 2026-03-27 | Search FIGI | Lookup LEI | D, E | $7,539,123 | 2026-10-31 |
| BNY Mellon International Bond Fund | 2020-03-20 | Search FIGI | Lookup LEI | A-3 | $2,902,573 | 2020-10-31 |
| DoubleLine Total Return Bond Fund | 2026-02-26 | Search FIGI | Lookup LEI | X-A | $1,851,577 | 2026-03-31 |
| Master Total Return Portfolio | 2024-08-26 | Search FIGI | Lookup LEI | X-A | $314,033 | 2024-09-30 |
| DoubleLine Commercial Real Estate ETF | 2026-02-20 | Search FIGI | Lookup LEI | X-A | $201,747 | 2026-09-30 |
| Morningstar Total Return Bond Fund | 2026-03-26 | Search FIGI | Lookup LEI | X-A | $58,322 | 2026-04-30 |
| BlackRock Core Bond Portfolio | 2026-02-25 | Search FIGI | Lookup LEI | X-A | $47,926 | 2026-09-30 |
| BlackRock Total Return V.I. Fund | 2026-02-25 | Search FIGI | Lookup LEI | X-A | $8,985 | 2025-12-31 |
| Fund Name | Tranches | Ids |
|---|---|---|
| BNY Mellon Global Fixed Income Fund $9,957,314 2022-12-31 | A-3 | Search FIGI Lookup LEI |
| JPMorgan Income Builder Fund $7,539,123 2026-10-31 | D, E | Search FIGI Lookup LEI |
| BNY Mellon International Bond Fund $2,902,573 2020-10-31 | A-3 | Search FIGI Lookup LEI |
| DoubleLine Total Return Bond Fund $1,851,577 2026-03-31 | X-A | Search FIGI Lookup LEI |
| Master Total Return Portfolio $314,033 2024-09-30 | X-A | Search FIGI Lookup LEI |
| DoubleLine Commercial Real Estate ETF $201,747 2026-09-30 | X-A | Search FIGI Lookup LEI |
| Morningstar Total Return Bond Fund $58,322 2026-04-30 | X-A | Search FIGI Lookup LEI |
| BlackRock Core Bond Portfolio $47,926 2026-09-30 | X-A | Search FIGI Lookup LEI |
| BlackRock Total Return V.I. Fund $8,985 2025-12-31 | X-A | Search FIGI Lookup LEI |
9 of 9 funds* Use toggle buttons to sort
* This table is not yet exhaustive. It is a new feature and contains only the funds we have found so far based on the tranche identifiers we know about. We are still working on it!
* The FIGI Search url provided for each fund will link you to the OpenFIGI search page to lookup FIGI identifiers.
* Reporting Period represents the reporting period end date from the NPORT-P filing.
* For full disclosures, please visit our disclosures page.
* The FIGI Search url provided for each fund will link you to the OpenFIGI search page to lookup FIGI identifiers.
* Reporting Period represents the reporting period end date from the NPORT-P filing.
* For full disclosures, please visit our disclosures page.
Provenance & Documents
Issuance → amendments → reports. Tap to view on SEC.Context & Commentary#
Entity Statements
💬 Servicer Commentary
2026-03-30
Portfolio (5 Office properties)
J. Kenneth Dunn
Prospectus ID: 16
3/11/2026 - The Loan transferred to Special Servicing due to imminent monetary default. The Loan went into monetary default on 10/6/2022, related to the Borrower's failure to make the Debt Service payment. A Notice of Default letter was sent In accordance with the Loan Documents. The Special Servicer is pursuing a foreclosure strategy. Target foreclosure sale date of 3/24/2026
💬 Servicer Commentary
2026-03-30
97 Second Avenue
Michael K. Shah
Prospectus ID: 32
3/11/2026 - Loan recently transferred to Special Servicer for payment and non-monetary defaults. Special Servicer has reached out to Borrower who has executed the PNL. Counsel engaged to enforce CMA compliance. Lender accelerated the loan after 3 monthly payments missed in a row. Borrower has a proposed new tenant for retail space and proposal to reinstate; Lender has rejected Borrower proposal. Lender has filed for foreclosure and is seeking a stipulation for a
💬 Servicer Commentary
2026-03-30
199 Lafayette
Edmond Li
Prospectus ID: 19
3/11/2026 - The Loan transferred to Special Servicing in July 2020 for Imminent Monetary Default by Borrower's request due to the impact of the COVID-19 pandemic. On 12/5/2022, the court granted the appointment of Richard Madison of Colliers as Receiver . A new lease prospect is being considered that would bring the property to 100% occupancy and enhance value. Special Servicer continues to move forward with a foreclosure strategy. As of February 2026, expected title
💬 Servicer Commentary
2026-03-03
Le Meridien Hotel Dallas
Nadir Badruddin
Prospectus ID: 4
2/11/2026 - The Loan transferred to Special Servicing for Monetary Default at Borrower''s request as a result of the COVID-19 pandemic. Special Servicer received approval for a forbearance and previously worked with the Borrower to close. Borrower did not close and has now filed for Chapter 11 bankruptcy protection. The Borrower has proposed a Chapter 11 plan of reorganization (The ''Plan'') to which the Lender objected. The parties concluded a Mediation on 10/6/2022 at which the parties agreed upon gener al terms of forbearance and repayment of arrearages making certain changes to the proposed Plan. The Court has approved the settlement and settlement and confirmed the bankruptcy plan as of March 28 2023. Borrower has agreed to monthly arrearages calculat ion. Borrower agreed to finalize CMA, but has not completed documentation; Lender counsel is engaged to ensure compliance. Lender has sent notice of default involving cash management and payment default. Lender has sent acceleration letter. Lender has fil ed to appoint a Receiver over the property; judge has executed the order but Borrower has objected. Foreclosure rescheduled for February 3, 2026.
💬 Servicer Commentary
2025-10-01
The Shops At Alden Bridge
Lawrence L. Kuppin
Prospectus ID: 31
8/11/2025 - The Loan transferred to Special Servicing in 12/2023. A Hello Letter was sent and a PNL was executed. Special Servicer and Borrower entered into a Settlement Agreement and the Loan is in the process of being returned to the
💬 Servicer Commentary
2025-05-01
Shingle Creek Crossing
Franklin Gatlin III
Prospectus ID: 14
The loan is transferring to the Special Servicer, Rialto, due to Payment Default. While the loan is current, next due for 4/6/2025, borrower is not complying with the deposit of all revenues to the lockbox account which has occurred over an extended time period. A Notice of Default was issued. The DSCR was 1.30 for the normalized nine month period ended 9/30/2024.
💬 Servicer Commentary
2025-03-03
Prospectus ID: 12A2
2/11/2025 - Borrower is assessing its ability to restore the Winding Creek Property to pre-flood event status. Lender is evaluating a Loan Modification to allow usage of insurance proceeds for Restoration. Lender implemented Cash Management. Borrower has requested to start to remediation on the winding creek asset. Borrower has requested a quote to defense the loan.
💬 Servicer Commentary
2025-03-03
Prospectus ID: 12A1
2/11/2025 - Borrower is assessing its ability to restore the Winding Creek Property to pre-flood event status. Lender is evaluating a Loan Modification to allow usage of insurance proceeds for Restoration. Lender implemented Cash Management. Borrower has requested to start to remediation on the winding creek asset. Borrower has requested a quote to defense the loan.
External Analysis
No external analysis linked yet. Contact us to publish and link your research.Have a source-backed note on this deal? Contact us.
Datasets & API#
Machine-readable spec (ODPS): /odps/cmbs-deals.yamlGET https://api.dealcharts.org/deals/msc2019-l2
{
"deal_id": "msc2019-l2",
"issuer": "",
"shelf": "",
"issue_date": "",
"linked_entities": [
{
"role": "Rating Agencies",
"name": "S&P, Fitch, MSTAR"
},
{
"role": "Operating Advisor",
"name": "Pentalpha Surveillance"
},
{
"role": "Depositor",
"name": "Morgan Stanley Capital I Inc."
},
{
"role": "Master Servicer",
"name": "Midland Loan Services"
},
{
"role": "Special Servicer",
"name": "Rialto Capital Advisors"
}
]
}Access the underlying datasets used to power these analytics.
CMBS Fund Holdings Dataset
Filing data from sec.gov NPORT-P to produce the Fund Holdings table.
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CREFC IRP standardized datasets
Get the standardized dataset following the CREFC IRP format, ideal for advanced reporting and analysis.
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