KBRA Affirms All Ratings for WFCM 2015-C29
3 May 2024 | New York
KBRA affirms all of its outstanding ratings for WFCM 2015-C29, a $958.8 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited stable pool performance since securitization.
As of the April 2024 remittance period, there are no specially serviced or delinquent loans. KBRA identified 14 K-LOCs (16.0% of the pool balance), of which two (4.6%) have estimated losses. The K-LOCs include:
Three top 10 loans (8.3%):
- 150 Royall Street (3rd largest, 3.7%)
- Hall Office Park (9th largest, 2.3%, 27.5% estimated loss severity)
- Parkway Crossing East Shopping Center (10th largest, 2.3%, 29.4%)
The remaining 11 K-LOCs do not have estimated losses and represent 7.7% of the pool balance.
Excluding the K-LOCs with estimated losses, the transaction’s WA KLTV is 93.4%, compared to 91.9% at last review and 101.8% at issuance. The KDSC is 1.96x, compared to 1.93x at last review and 1.88x at issuance.
To access rating and relevant documents, click here.
Click here to view the report.