KBRA Affirms All Ratings for Benchmark 2021-B30
11 Oct 2024 | New York
KBRA affirms all of its outstanding ratings for Benchmark 2021-B30, a $946.1 million CMBS conduit transaction. The affirmations follow a surveillance review of the transaction, which has exhibited a slight decline in pool performance since securitization. However, the magnitude of the change does not warrant rating adjustments at this time.
As of the September 2024 remittance period, there is one specially serviced asset (3.5% of the pool balance), which is 90+ days delinquent. KBRA identified six K-LOCs (17.0%), including the specially serviced asset. These include two top 10 loans (13.5%), neither of which has estimated losses:
- One Memorial Drive (largest, 10.0% of the pool balance)
- Brush Factory Lofts (9th largest, 3.5%)
There the remaining four K-LOCs do not have estimated losses and represent 3.6% of the pool balance .
The transaction's WA KLTV is 107.6%, compared to 105.3% at the last review and 101.3% at securitization. The KDSC is 2.31x compared to 2.37x at the last review and 2.43x at securitization.
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