KBRA Assigns Preliminary Ratings to Benchmark 2020-B22
KBRA Assigns Preliminary Ratings to Benchmark 2020-B22 Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 13 classes of Benchmark 2020-B22, an $814.2 million CMBS conduit transaction collateralized by 33 commercial mortgage loans secured by 44 properties. The collateral properties are located throughout 20 MSAs, the largest three of which are New York (37.2%), Salt Lake City (12.1%), Las Vegas (9.2%). The pool has exposure to all of the major property types, with the top three being office (38.1%), mixed-use (21.5%), and lodging (14.1%). The loans have principal balances ranging from $3.3 million to $80.0 million for the largest loan in the pool, The Grace Building (9.8%), which is secured by a 1.6 million sf, Class-A, LEED Gold certified office tower located in the Midtown neighborhood of New York Citys borough of Manhattan. The five largest loans, which also include MGM Grand &
KBRA Assigns Preliminary Ratings to GSMS 2020-GSA2
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 16 classes of GSMS 2020-GSA2, a $826.3 million CMBS conduit transaction collateralized by 46 commercial mortgage loans secured by 93 properties.
The collateral properties are located throughout 33 MSAs, the largest three of which are New York (19.5%), Las Vegas (11.9%), Houston (6.9%), Long Island (6.3%), and Sacramento (6.3%). The pool has exposure to all of the major property types, with three types representing more than 10.0% of the pool balance: office (41.8%) lodging (16.3%), and industrial (12.1%). The loans have principal balances ranging from $2.4 million to $70.0 million for the largest loan in the pool, Elo Midtown Office Portfolio (8.5%), which is secured by three Class-B CBD office properties totaling 336,302 sf all located in the Midtown section of New York City’s borough of Manhattan. The fiv