WFCM 2017-C39 - Charts and Resources

The Loan was transferred to the Special Servicer, ASC, on August 19, 2024, due to non-monetary default. In July 2024, IHG issued a default letter to the Borrower. The letter outlined that failure to address the various defaults in a timely manner could result in a loss of flag. In January 2025, Borrower and Lender entered into a settlement agreement, wherein Borrower paid all the past due franchise fees. Additionally, Borrower consented to the appointment of a receiver if they fail to address the remaining defaults in the IHG letter, dated July 2024, by March. In February 2025, Borrower filed bankruptcy to prevent the appointment of a receiver. An initial hearing for the appointment of chapter 11 trustee was held on 4/30 after Lender, Borrower and IHG failed to agree on settlement terms to exit the bankruptcy. Prior to the subsequent hearing held in May, Borrower filed an amended statement of financial affairs. While the judge did not issue a ruling at the hearing, the Borrower was advised to submit their plan as soon as possible. Recently, SS and counsel have connected on next steps, which includes a plan to file an amended motion to appoint the chapter 11 trustee, based on the findings in

Loan transferred to special servicing on 12/3/24 due to Imminent Monetary Default. The Sponsor proposed a loan modification which would enable the Sponsor to utilize reserves, property cash flow, and other sources to pay for tenant improvement allowances contemplated in the leases it is negotiating. The proposal was declined by the Lender. The Sponsor has requested Lender modify the loan to allow for a portion of the collateral property to be sold in exchange for a partial prepayment of the loan . The parties are negotiating the terms of the potential modification.

Loan transferred on 03/21/24 due to Imminent Monetary Default. The loan is not currently in default. Due to key tenant departures, the Borrower requested a transfer to the Special Servicer to discuss a loan modification. SS, Borrower and Mezzanine are now working to document a loan modification based on terms approved by senior lender.

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 74% leased as of May 2025. The total debt is comprised of five pari passu loans. There was $11.86MM of outstanding Mezzanine debt. The properties were inspected in March 2025 and found to be in good overall condition with deferred maintenance r elated to the parking garage noted. Repairs are planned to occur in phases starting in late 2025 and in 2026. 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. An order granting the discharge of the receiver was approved on 4/9/2025. Leasing efforts to stabilize the property and renew existing tenants with upcoming expirations are underway, along with addressing the parking garage deferred maintenance. The SS projects a disposition to occur in early 2027.

Loan transferred to special servicing effective 10/29/21 following a non-monetary default related to the former anchor tenant, Best Buy, vacating and Borrower's request for 10-months of interest deferral. In December 2023, a receiver was appointed over the vacant anchor box. In April 2024, Borrower and Lender entered into a Loan Modification in which advances are made to the receiver to facilitate lease-related work for a replacement anchor tenant, Burlington. In September 2024, the lease-related work for Burlington was completed and the tenant took possession of the premises. The receiver was dismissed and Burlington opened for business and commenced rent in October 2024. A default under the loan was discovered in connection with Borrower's failure to fully comply with the Cash Management Agreement. The Special Servicer and Borrower have reached agreement to resolve the event of default and restore compliance with cash

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 6/1/2025. Servicer is actively negotiating modification terms with Borrower. Appraisal has been ordered.