Press release content from Business Wire. The AP news staff was not involved in its creation.
KBRA Assigns Preliminary Ratings to GSMS 2021-RENT
February 10, 2021 GMT
NEW YORK (BUSINESS WIRE) Feb 10, 2021
Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to 13 classes of GSMS 2021-RENT, a CMBS single-borrower securitization.
The collateral for the transaction is a $347.2 million portion of a $674.8 million non-recourse, first lien mortgage loan. The floating rate loan has an initial two-year term with one, one-year extension option, and requires monthly interest-only payments based on one-month LIBOR. The loan is secured by the borrower’s fee simple interests in 62 multifamily properties totaling 1,734 units located throughout San Francisco, California. As of December 2020, the portfolio was 74.7% occupied.
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 &