Press Release|CMBS
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KBRA Affirms All Ratings for COMM 2025-167G

16 Jul 2026   |   New York

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KBRA affirms all ratings for COMM 2025-167G, a CMBS single-borrower transaction. The affirmations follow a surveillance review of the transaction, which has exhibited stable performance since securitization.

The collateral for the transaction is a $247.0 million non-recourse, first lien mortgage loan secured by the borrower’s fee simple interest in 167 N. Green, a 17-story, Class-A, LEED Gold certified office building located in the Fulton Market/Near West Side submarket of downtown Chicago. The collateral is comprised of 607,236 sf of office space (95.1%of sf) located on the 4th through 16th floors and 31,558 sf of retail space (4.9%) located on the ground and 2nd floors,totaling 638,794 sf. In addition, the 3rd floor contains a 125-space parking garage, and the 17th floor features an amenity suite. The fixed-rate loan has a five-year term and requires monthly interest-only payments based on a WA component interest rate of 6.7922% with an August 2030 maturity date. The loan sponsors are Walton Street Capital, Shapack Partners, and Focus Development.

KBRA analyzed the cash flow for the properties utilizing information from the trustee and servicer to determine KNCF. The analysis produced a KNCF of $22.1 million and a KBRA value of $248.2 million ($389 per sf). The resulting in-trust KLTV is 99.5%, compared to 100.7% at securitization. KBRA assigned a KPO of Perform to the loan.

To access ratings and relevant documents, click here.

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Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

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