WFCM 2021-C59 - Charts and Resources

Asset transferred to special servicing, effective 12/11/24, due to Imminent Monetary Default, however, the loan remains payment current. Borrower indicated that due to the low occupancy at the Property, there is not sufficient cash flow to cover the opera ting expenses after debt service and conducted an initial capital call with their equity partners to address immediate outstanding accounts payable issues. Borrower and SS are working on documenting a modification agreement based

Loan transferred to special servicing effective 3/21/2025 due to Imminent Monetary Default related to the bankruptcy and closure of multiple of the single-tenant properties that make up the portfolio. The Loan is now past due for the March and April 2025 payments. Rite Aid filed Chapter 11 Bankruptcy on 10/15/2023. As such, three portfolio tenants subsequently ceased to pay rent and vacated their respective properties. Two of the leases were rejected in bankruptcy while one lease was assumed. Borrower has stated that they will assign the resulting claims to Lender. ASC has determined that only 3 of the 8 portfolio properties are open and operatingThe Borrower proposed a deed-in-lieu of foreclosure conditioned upon Lender remitting cash reserves. The Speci al Servicer has determined there are past due taxes owed for multiple collateral properties. The Borrower was sent a default notice, and the loan has been accelerated. The Special Servicer will seek to