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KBRA Assigns Preliminary Ratings to BBCMS 2021-C9

Posted on 10089 Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 16 classes of BBCMS 2021-C9, a $793.8 million CMBS conduit transaction collateralized by 57 commercial mortgage loans secured by 87 properties. The collateral properties are located throughout 46 MSAs, the largest three of which are Las Vegas (11.4%), Philadelphia (9.6%), and Orange County (9.1%). The pool has exposure to all of the major property types, with three types representing more than 15.0% of the pool balance: office (27.3%), multifamily (18.7%), and mixed-use (13.4%). The loans have principal balances ranging from $1.8 million to $75.0 million for the largest loan in the pool, The Atlantic (9.4%), which is secured by a 268-unit, Class-A, high-rise multifamily building located in Philadelphia, Pennsylvania, within the city’s CBD. The five largest loans, which also include Saddleback Business Park (

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