WFCM 2017-C39 - Charts and Resources

Borrower and Lender have entered into a loan modification, effective 7/8/2025. SS will now coordinate with the master servicer on returning the loan. The loan is payment current and due for the August 2025 payment.

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 75% leased as of June 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 related 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 special servicer projects a disposition to occur in early 2027.

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 75% leased as of June 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 related 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 special servicer 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 1 0-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 Octo

The Loan was transferred to the Special Servicer, ASC, on August 19, 2024.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. The judge did not issue a ruling at the hearing but advised the Borrower to submit their reorganization plan as soon as possible. In June, Borrower filed a motion to extend the exclusivity period, which lapsed on 6/20/25. Recently, SS filed an amended motion to appoint the chapter 11 trustee as well as a lift stay motion. Hearings on all three matters are yet to be scheduled.

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 received and is under review.

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.