DOCSLIB.ORG

Citigroup Commercial Mortgage Trust 2019-GC41 Table of Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Citigroup Commercial Mortgage Trust 2019-GC41 Table of Contents JULY 2019 STRUCTURED FINANCE: CMBS PRESALE REPORT Citigroup Commercial Mortgage Trust 2019-GC41 Table of Contents Capital Structure 3 Transaction Summary 4 Rating Considerations 5 DBRS Credit Characteristics 7 Largest Loan Summary 8 Transaction Concentrations 12 Loan Structural Features 13 30 Hudson Yards 18 Millennium Park Plaza 23 USAA Office Portfolio 29 The Lincoln Apartments 34 Post Ranch Inn 38 Grand Canal Shoppes 44 Moffett Towers II Buildings 3 & 4 50 The Zappettini Portfolio 56 Delong Self Storage 63 Powered Shell Portfolio - Manassas 68 Summit Technology Center 73 U.S. Industrial Portfolio V 78 City Center Plaza 84 505 Fulton Street 89 Wind Creek Casino & Resort Bethlehem 94 Transaction Structural Features 101 Methodologies 103 Operational Risk Reviews 103 Surveillance 103 Tucker Rhodes David Fackler Senior Financial Analyst Vice President +1 312 845 2264 +1 312 332 9457 [email protected] [email protected] Kevin Mammoser Erin Stafford Managing Director Managing Director +1 312 332 0136 +1 312 332 3291 [email protected] [email protected] PRESALE REPORT — CGCMT 2019-GC41 JULY 2019 Capital Structure Description Rating Action Balance Subordination DBRS Rating Trend Class A-1 New Rating - Provisional $11,825,000 30.000% AAA (sf) Stable Class A-2 New Rating - Provisional $128,097,000 30.000% AAA (sf) Stable Class A-3 New Rating - Provisional $10,112,000 30.000% AAA (sf) Stable Class A-4 New Rating - Provisional TBD4 30.000% AAA (sf) Stable Class A-5 New Rating - Provisional TBD4 30.000% AAA (sf) Stable Class A-AB New Rating - Provisional $19,494,000 30.000% AAA (sf) Stable Class X-A New Rating - Provisional $972,004,000 - AAA (sf) Stable Class A-S New Rating - Provisional $109,370,000 21.125% AAA (sf) Stable Class B New Rating - Provisional $69,319,000 15.500% AA (high) (sf) Stable Class X-B New Rating - Provisional $120,152,000 - AA (low) (sf) Stable Class C New Rating - Provisional $50,833,000 11.375% A (high) (sf) Stable Class D New Rating - Provisional $32,349,000 8.750% BBB (high) (sf) Stable Class X-D New Rating - Provisional $58,536,000 - BBB (high) (sf) Stable Class E New Rating - Provisional $26,187,000 6.625% BBB (sf) Stable Class F New Rating - Provisional $26,187,000 4.500% BB (high) (sf) Stable Class X-F New Rating - Provisional $26,187,000 - BBB (low) (sf) Stable Class G-RR New Rating - Provisional $12,324,000 3.500% B (high) (sf) Stable Class J-RR New Rating - Provisional $43,131,964 0.000% NR n/a Notes: 1. NR = Not Rated. 2. The Class X-A, X-B, X-D, and X-F and balances are notional. The notional balance of the Class X-A certificates will be equal to the aggregate Certificate Balanec of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class A-S certificates. The notional balance of the Class X-B certificates will be equal to the aggregate Certificate Balances of the Class B and Class C certificates. The notional balance of the Class X-D certiicates will be equal to the aggregate Certificate Balance of the Class D and Class E certificates. 3. The notional amounts of the Class X-A, Class X-B and Class X-D certificates may vary depending upon the final pricing of the classes of the Principal Balance Certificates. 4. The exact initial certificate balances of the Class A-4, and A-5 Certificates are unknown and will be determined based on the final pricing of those classes of certificates. The aggregate initial certificate balance of the Class A-4 and A-5 Certificates is expected to be approximately $693,106,000 subject to a variance of plus or minus 5%. Structured Finance: CMBS 3 PRESALE REPORT — CGCMT 2019-GC41 JULY 2019 Transaction Summary POOL CHARACTERISTICS Trust Amount $1,276,634,964 Wtd. Avg. Interest Rate 3.866% Number of Loans 43 Wtd. Avg. Remaining Term 113 Number of Properties 100 Wtd. Avg. Remaining Amortization 371 Average Loan Size $29,689,185 Total DBRS Expected Amortization3 2.7% Wtd. Avg. DBRS Term DSCR 2.18 Wtd. Avg. DBRS Term DSCR Whole Loan 2.49x Top Ten Loan Concentration 49.3% Avg. DBRS NCF Variance -13.9% 1. Excludes mortgage loans that are IO for the entire term. PARTICIPANTS Depositor Citigroup Commerical Mortgage Securities Inc. Mortgage Loan Sellers Goldman Sachs Mortgage Company (GSMC - 20 loans, 42.3% of pool) Citi Real Estate Funding Inc. (CREFI - 11 loans, 24.0% of pool) German American Capital Corporation (GACC - 10 loans, 21.5% of pool) Goldman Sachs Mortgage Company/German American Capital Corporation (GSMS/GACC - 2 loans, 12.2% of pool) Master Servicer Midland Loan Services, a Division of PNC Bank, National Association Special Servicer Rialto Capital Adviors, LLC Certificate Administrator Citibank, N.A. Trustee Wilmington Trust, National Association Custodian Citibank, N.A. Structured Finance: CMBS 4 PRESALE REPORT — CGCMT 2019-GC41 JULY 2019 Rating Considerations The collateral consists of 43 fixed-rate loans secured by 100 commercial and multifamily properties. The transaction is a sequential-pay pass-through structure. The conduit pool was analyzed to determine the provisional ratings, reflecting the long-term probability of loan default within the term and its liquidity at maturity. Four loans, representing a combined 18.0% of the pool, are shadow-rated investment grade by DBRS. When the cut-off loan balances were measured against the DBRS Stabilized NCF and their respective actual constants, two loans, representing a combined 1.7% of the pool, had a DBRS Term DSCR below 1.15x, a threshold indicative of a higher likelihood of mid-term default. The pool additionally includes seven loans, representing a combined 10.2% of the pool by allocated loan balance, with issuance LTVs in excess of 67.1%, a threshold historically indicative of above-average default frequency. The WA LTV of the pool at issuance was 58.4%, and the pool is scheduled to amortize down to a WA LTV of 56.5% at maturity. STRENGTHS • The collateral features four loans, representing a combined 18.0% of the pool, that are shadow-rated investment grade by DBRS: 30 Hudson Yards, Grand Canal Shoppes, Moffett Towers II Buildings 3 and 4 and The Centre. 30 Hudson Yards exhibits credit characteristics consistent with an A (high) shadow rating, Grand Canal Shoppes exhibits credit characteristics consistent with a BBB (high) shadow rating, Moffett Towers II Buildings 3 and 4 exhibits credit characteristics consistent with a AA shadow rating and The Centre exhibits credit characteristics consistent with a BBB (high) shadow rating. For more information on 30 Hudson Yards, Grand Canal Shoppes and Moffett Towers II Buildings 3 and 4, please see pages 18, 44 and 50, respectively. • Sixteen loans, representing a combined 50.9% of the pool by allocated loan balance, exhibit issuance LTVs of less than 59.3%, a threshold historically indicative of relatively low-leverage financing and generally associated with below-average default frequency. • Only one loan, representing 0.9% of the pool by allocated loan balance, was assigned Average (-) property quality, while no properties were deemed Below Average or Poor quality. Additionally, 11 loans, representing 46.6% of the pool by allocated loan balance, exhibited Average (+), Above Average or Excellent property quality. The pool’s largest loan, 30 Hudson Yards, is secured by collateral that DBRS deemed to be of Excellent property quality. • Ten loans, representing a combined 35.3% of the pool, are located in areas with a DBRS Market Rank of 6, 7 or 8, which are characterized as urbanized locations. These markets benefit from increased liquidity that is driven by consistently strong investor demand. Such markets therefore tend to benefit from lower default frequencies than less dense suburban, tertiary and rural markets. Areas with a DBRS Market Rank of 7 or 8 are especially densely urbanized and benefit from significantly elevated liquidity. Nine loans, representing 30.6% of the pool by allocated loan balance, are located in areas with a DBRS Market Rank of 7 or 8. CHALLENGES AND CONSIDERATIONS • Seven loans, representing 33.6% of the aggregate pool balance, are secured by properties that are either fully or partially leased to a single tenant. The largest single-tenant property by proportion of pool balance (30 Hudson Yards) represents 7.8% of the aggregate pool balance, and five of the top ten loans by proportion of pool balance are either fully or partially leased to a single tenant. – DBRS sampled six of the seven loans secured by single-tenant properties. Additionally, two of the seven loans leased to a single tenant are shadow-rated investment grade by DBRS (30 Hudson Yards and Moffett Towers II Buildings 3 and 4). – Six of the seven identified properties are leased to single tenants that DBRS considers to be investment-grade rated: 30 Hudson Yards, USAA Office Portfolio, Moffett Towers II Buildings 3 and 4, Powered Shell Portfolio – Manassas, Powered Shell Portfolio – Ashburn and Comcast Building Tucson. – The Zappettini Portfolio is secured by ten individual real estate properties that, while individually may be either fully or partially leased to a single tenant, are occupied by 13 tenants across eight separate leases at the time of loan closing. Structured Finance: CMBS 5 PRESALE REPORT — CGCMT 2019-GC41 JULY 2019 • The pool has a relatively high concentration of loans secured by office properties, as evidenced by 11 loans, representing 33.3% of the pool by allocated loan balance, being secured by such properties. DBRS considers office properties to be a riskier property type with a generally above-average default frequency.
Load more

Recommended publications
  • County of Prince William 5 County Complex Court, Suite 290 Prince William, Virginia 22192-9201
    X. NORTHERN VIRGINIA TRANSPORTATION AUTHORITY M E M O R A N D U M TO: Chairman Martin E. Nohe and Members Northern Virginia Transportation Authority FROM: Monica Backmon, Executive Director DATE: September 6, 2018 SUBJECT: Executive Director’s Report ______________________________________________________________________________ 1. Purpose: To inform the Northern Virginia Transportation Authority (NVTA) of items of interest not addressed in other agenda items. 2. Project Status Updates With 78 executed Standard Project Agreements (SPAs) already in place, and another 44 SPAs set to follow through the recently adopted 2018-2023 Six Year Program, NVTA staff are in the process of enhancing their oversight and coordination activities. These enhanced activities will provide Authority members and others with greater insights regarding the status of projects funded with NVTA revenues (regional and local). Starting in fall 2018, jurisdictional and agency staff will periodically meet with and brief NVTA staff on the status of projects with approved SPAs. These briefings, which are expected to occur every 3-6 months, will include: schedule updates; project funding and SPA billings; risk identification and mitigation; upcoming milestones, including groundbreaking and ribbon-cuttings; and overview of major projects using local distribution (30%) revenues. Also starting in Fall 2018, NVTA staff will present a series of briefings to the Authority on project status and key trends in each of the region’s transportation corridors. The purpose of these briefings is to raise awareness of the Authority’s investments across the region. The first presentation is tentatively scheduled for the October meeting, will focus on the I-95/Route 1/VRE Fredericksburg Line corridor.
    [Show full text]
  • Agenda Item #2 – Attachment 2, Transaction
    V.B Transportation Action Plan for Northern Virginia TransAction Plan Project List Draft for Public Comment Spring/Summer 2017 This project list includes a brief Project List: Index by Corridor Segment description of the 358 candidate Segment Description Page regional projects included in 1-1 Rt. 7/Rt. 9 — West Virginia state line to Town of Leesburg 3 TransAction. The projects are 1-2 Rt. 7/Dulles Greenway — Town of Leesburg to Rt. 28 5 listed by Corridor Segment. 1-3 Rt. 7/Dulles Toll Road/Silver Line — Rt. 28 to Tysons 12 Larger projects are listed under 1-4 Rt. 7/Dulles Toll Road/Silver Line — Tysons to US 1 18 each Corridor Segment in which 2-1 Loudoun County Parkway/Belmont Ridge Road — Rt. 7 to US 50 36 they are located, and may 2-2 Bi-County Parkway — US 50 to I-66 42 appear multiple times in this 2-3 Rt. 234 — I-66 to I-95 45 project list. 3-1 Rt. 28 — Rt. 7 to I-66 51 3-2 Rt. 28 — I-66 to Fauquier County Line 56 4-1 Prince William Parkway — I-66 to I-95 60 5-1 Fairfax County Parkway — Rt. 7 to US 50 66 5-2 Fairfax County Parkway — US 50 to Rolling Road 70 5-3 Fairfax County Parkway — Rolling Road to US 1 74 6-1 I-66/US 29/VRE Manassas — Prince William County Line to Rt. 28 78 6-2 I-66/US 29/US 50/Orange Silver Line — Rt. 28 to I-495 84 6-3 I-66/US 29/US 50/Orange Silver Line — I-495 to Potomac River 90 7-1 I-495 — American Legion Bridge to I-66 100 7-2 I-495 — I-66 to I-395 105 7-3 I-495 — I-95 to Woodrow Wilson Bridge 110 I-95/US 1/VRE Fredericksburg — Stafford County Line to Fairfax County 8-1 121 Line 8-2 I-95/US 1/VRE Fredericksburg — Prince William County Line to I-495 127 I-395/US 1/VRE Fredericksburg/Blue Yellow Line — I-495 to Potomac 8-3 137 River 9-1 US 15 — Potomac River to Rt.
    [Show full text]
  • Transportation in Virginia
    Virginia’s Long-Range Multimodal Transportation Plan 2007-2035 Final Report TRANSPORTATION IN VIRGINIA Prepared for: Office of Intermodal Planning and Investment September 2009 Revised January 2010 Prepared by: Wilbur Smith Associates Michael Baker Jr., Inc. Renaissance Planning Group ABBREVIATIONS AND ACRONYMS CCI Critical Condition Index CTB Commonwealth Transportation Board DMV Department of Motor Vehicles DOAV Department of Aviation DOT Department of Transportation DRPT Department of Rail and Public Transportation FAA Federal Aviation Administration FHWA Federal Highway Administration FO Functionally Obsolete FRA Federal Railroad Administration FTA Federal Transit Administration HOT High Occupancy Toll HOV High Occupancy Vehicle HRT Hampton Roads Transit NBI National Bridge Inventory NEC Northeast Corridor NIT Norfolk International Terminals NNMT Newport News Marine Terminal NS Norfolk Southern OIPI Office of Intermodal Planning and Investment PCI Pavement Condition Inventory PMT Portsmouth Marine Terminal RAB Rail Advisory Board SD Structurally Deficient SRTS Safe Routes to School STRAHNET Strategic Highway Network TEU Twenty-foot Equivalent Unit USDOT United States Department of Transportation VAB Virginia Aviation Board VDOT Virginia Department of Transportation VIP Virginia Inland Port VIT Virginia International Terminals VMT Vehicle Miles of Travel VPA Virginia Port Authority VRE Virginia Railway Express VRT Virginia Regional Transit WMATA Washington Metropolitan Area Transit Authority Transportation in Virginia i TABLE OF CONTENTS
    [Show full text]
  • Omniride System
    SHERIDAN CIRCLE Q ST. Q ST. Dupont 13 ST. 15 ST. Circle 14 ST. 17 ST. CHURCH ST. 18 ST. DUPONT KINGMAN PL. 21 ST. 21 CIRCLE P ST. ROCK CREEK P ST. MASS CONNECTICUT 16 ST. LOGAN ACHU O ST. CIRCLE O ST. ST. 5 NEWPORT PL SETT S AVE. ST. 17 7 ST. 7 8 ST. 8 SCOTT DE ISLAND AVE. ST. 9 11 ST. 11 NEAL PL. CIRCLE RHO N ST. RIDGE 22 22 24 24 23 23 25 25 WAR PL. 20 THOMAS CIRCLE M NEW HAMPSHIRE M M L NORTHERN VIRGINIA AND WASHINGTON, DC 10 21 21 Farragut McPherson Farragut North Square Pennsylvania Ave. West 16th St. I St. New Jersey Ave. New York Ave. LR-E Massachusetts Ave. H St. H St. St. 11th 14th St. 2nd St. 3rd St. 4th St. 5th St. 6th St. 7th St. 8th St. 9th St. 10th St. St. 11th 12th St. Foggy DC-E Metro H St. N. Capitol St. 1st St. 237 Bottom- H St. Center Old Dominion Dr MN-E 6th St. Union GWU 5th St. GV-E G St. GV-E G St. GV-E World Station t. F St. Bank MN-E F St. 7th St. MN-E S 9th St. ain Virginia Ave. F St. M The White MC-E 4th St. 3rd St. 2nd St. DC-E First St. House E St. Judiciary E St. 21st St. 20th St. 19th St. Kent St. Kent R1-E Rosslyn E St. LR-E Square OPM E St. Archives– Lee Highway R1-E MarylandD Ave.
    [Show full text]
  • Leesburg Executive Airport Master Plan Update
    Leesburg Executive Airport Master Plan Update DRAFT December 2017 FAA AIP Grant Number: 3-51-0027-039-2015 DOAV Grant Number: CF0027-39 Prepared for: Town of Leesburg 1001 Sycolin Road, SE, Suite 7 Leesburg, Virginia 20175 Prepared by: Talbert and Bright 10105 Krause Road, Suite 100 Chesterfield, Virginia 23832 Leesburg Executive Airport Airport Master Plan Update Table of Contents TABLE OF CONTENTS 1.0 INVENTORY CHAPTER.................................................................................................1 1.1 Objectives ......................................................................................................................1 1.2 Airport Location.............................................................................................................1 1.3 Airport Ownership .........................................................................................................2 1.4 Airport History ...............................................................................................................2 1.5 Airport Role ...................................................................................................................5 1.6 Based Aircraft and Operations Overview ......................................................................6 1.7 Airport Service Area ......................................................................................................7 1.8 Climate ...........................................................................................................................9
    [Show full text]
  • Innovation Corridor Transportation Visioning Forum
    INNOVATION CORRIDOR TRANSPORTATION VISIONING FORUM GEORGE MASON UNIVERSITY Michelle T. Holland, Megaprojects Communications Manager June 26, 2019 Virginia Department of Transportation Northern Virginia Regional Express Lanes Network • 90+ Mile express lanes network by late 2022 • 54 miles in service • I-95, I-495, I-66 Inside the Beltway • 31 miles under construction • I-395 Northern Extension • I-66 Outside the Beltway • 10 miles in development • I-95 to Fredericksburg • 3 miles under study • I-495 Northern Extension • Three independent operators 2 I-66 Outside the Beltway Project • 22.5 miles of express lanes (2 lanes in each direction, HOV-3+) alongside general purpose lanes from I-495 to Gainesville (leaving space in median for future transit expansion) • 2 new park and ride lots providing 3,200+ parking spaces • Bicycle and pedestrian trail improvements including 11 miles of new trails • $2.2 billion design-build construction project • Public-private partnership with I-66 Express Mobility Partners (Cintra, Meridiam, John Laing, and APG) through 2066 • Express Lanes scheduled to open in December 2022 3 I-66 Outside the Beltway Project What’s New? • Lane shifts and traffic barriers installed along 22.5-mile project corridor • Current construction activities include: clearing, relocating utilities, setting up E&S controls, retaining walls, box culverts and bridge structures • Visible progress at Route 28, Route 123, Route 50, E.C. Lawrence Park entrance road, and new Park and Ride Lots at University Blvd. in Gainesville and Balls Ford
    [Show full text]
  • Executive Director's Recommendation
    Executive Director’s Recommendation Commission Meeting: July 9, 2015 PROJECT NCPC FILE NUMBER Draft 2015 Marine Corps Base Quantico MP67 Master Plan Review Marine Corps Base Quantico NCPC MAP FILE NUMBER 3250 Catlin Avenue 2402.00(05.00)44127 Quantico, Virginia APPLICANT’S REQUEST SUBMITTED BY Approval of comments on draft United States Marine Corps master plan REVIEW AUTHORITY PROPOSED ACTION Advisory Approve comments as requested per 40 U.S.C. § 8722(a) and (b)(1) ACTION ITEM TYPE Staff Presentation PROJECT SUMMARY The United States Marine Corps has submitted a draft master plan update for Marine Corps Base Quantico (MCBQ) in Quantico, Virginia. MCBQ is situated 35 miles south of Washington, DC and 20 miles north of Fredericksburg, Virginia. The installation is bifurcated by I-95, with approximately 50,000 acres of land to the west of I-95 (known as West Side) and 8,000 acres of land to the east (known as Main Side). West Side is used primarily as a training “range” by the Marine Corps and other federal training academies such as the Federal Bureau of Investigation (FBI) and the Drug Enforcement Agency (DEA). East Side is used by a number of community, support, and administrative uses for various tenants including: Marine Corps Air Facility, Officer Candidate School, and Marine Corps University. Overall, there are 33 tenants on the installation, which is divided into 11 land uses. The installation borders the west-side of the Potomac River and straddles three different counties (Prince William, Stafford, and Fauquier). The purpose of the 2015 Master Plan is to: govern future development on the installation; accommodate an increasing daytime population (from 31,000 to 43,000 people assuming 2% annual growth); protect the Base mission; and protect the appearance and quality of life on MCBQ today.
    [Show full text]
  • Northern Virginia Transportation Plan Update
    NORTHERN VIRGINIA TRANSPORTATION PLAN UPDATE PRIORITIZED LIST OF PROJECTS DULLES/VA 7 CORRIDOR QUALITATIVE PROJECT-BASED EVALUATION CRITERIA NUMBER OF Management and Compatibility with Land-Use Supports LANES Activity Center Intermodal FACILITY IMPROVEMENT LIMITS Operations - Right-of-Way (ROW) Local Comprehensive Transportation Connections Multimodal Choices Person Throughput Connections Urgency Need for Rehabilitation Mode Share Reduce VMT Technology Plans Investment FROM TO HIGHWAY VA 606 @ VA 267 (Dulles Greenway) widen within Dulles Greenway right-of-way 4 6 qqe qqe q w qqw q VA 772 @ VA 267 (Dulles Greenway) widen within Dulles Greenway right-of-way 4 6 qqe qqe q w qqw q RECONSTRUCTION East Elden St. reconstruct Monroe St. to Herndon Pkwy. East 4 4 qqqqqqe w qqw e Elden St. (Downtown Elden St. ) reconstruct Center St. to Monroe St. 2 2 qqqqqqe w qqw e South Elden St. reconstruct Herndon Pkwy to Sterling Rd. 4 4 qqqqqqe w qqw e TRANSIT Light rail (VA 7 corridor) construct Tysons Corner to Baileys Crossroads/Skyline - - e wwwq w q e wwe w TRAIL* VA 7 construct Leesburg to Alexandria wwe w q e q eewww Dulles Toll Road construct Sully Road to Memorial Highway - - e w e w q e q eewww Four Mile Run Trail construct Shirlington Road to Glebe Road q w e w q e q eewww VA 690 construct Main Street to W&OD Trail q w e w q e q eewwe VA 703 (Haycock Road) construct Broad Street to I-66 q w e w q e q eewwe Improved Non- Improved NUMBER OF Motorized Travel Transportation Highway Maintenance Transit Operating & LANES Reduce Roadway Priority within
    [Show full text]
  • GS Mortgage Securities Trust 2019-GC42 Table of Contents
    SEPTEMBER 2019 STRUCTURED FINANCE: CMBS PRESALE REPORT GS Mortgage Securities Trust 2019-GC42 Table of Contents Capital Structure 3 Transaction Summary 3 Rating Considerations 4 DBRS Credit Characteristics 6 Largest Loan Summary 7 DBRS Sample 8 Transaction Concentrations 10 Loan Structural Features 11 Moffett Towers II Buildings 3 & 4 16 Northpoint Tower 22 2 Cooper 27 19100 Ridgewood 32 New Jersey Center of Excellence 37 Woodlands Mall 42 Diamondback Industrial Portfolio 1 47 105 East 17th Street 53 USAA Office Portfolio 58 Covington Portfolio 63 U.S. Industrial Portfolio V 69 Capitol Commons 75 Powered Shell Portfolio - Manassas 79 Millennium Park Plaza 84 Pharr Town Center 90 Transaction Structural Features 95 Methodologies 97 Operational Risk Reviews 97 Surveillance 97 Jake Noeldner Dan Kastilahn Senior Financial Analyst Vice President +1 312 332 9576 +1 312 332 9444 [email protected] [email protected] Kevin Mammoser Erin Stafford Managing Director Managing Director +1 312 332 0136 +1 312 332 3291 [email protected] [email protected] PRESALE REPORT — GSMS 2019-GC42 SEPTEMBER 2019 Capital Structure Description Rating Action Balance Subordination DBRS Rating Trend Class A-1 New Rating - Provisional $11,528,000 30.000% AAA (sf) Stable Class A-2 New Rating - Provisional $117,422,000 30.000% AAA (sf) Stable Class A-3 New Rating - Provisional TBD4 30.000% AAA (sf) Stable Class A-4 New Rating - Provisional TBD4 30.000% AAA (sf) Stable Class A-AB New Rating - Provisional $20,849,000 30.000% AAA (sf) Stable Class X-A New Rating - Provisional
    [Show full text]
  • AGENDA Presentations Action
    Thursday, October 10, 2019 7:00pm 3040 Williams Drive, Suite 200 Fairfax, VA 22031 AGENDA I. Call to Order Chairman Nohe II. Roll Call Ms. Duker, Clerk III. Minutes of the September 12, 2019 Meeting Recommended action: Approval [with abstentions from those who were not present] Presentations IV. I-395 Express Lanes Ms. Shaw, VDOT, Mega Projects Director Mr. Brent McKenzie, Transurban V. Commonwealth and VRE Partnership Ms. Mitchell, Director, DRPT Action VI. FY2020 Regional Revenue Fund Appropriation Cancellation for Fairfax County Rock Hill Road Bridge Project Mr. Longhi, CFO (Recommended Action: Approval of De-Appropriation) VII. FY2026 CMAQ/RSTP Strawman Call for Projects Ms. Backmon, Executive Director (Recommended Action: Approval of Call for Projects) VIII. TransAction Contract Amendment 5: 2019 Tracking Survey Mr. Longhi, CFO (Recommended Action: Approval of Contract Amendment) IX. Direct Investment Purchases: Investment Policy Change Mr. Longhi, CFO (Recommended Action: Approval of Policy Changes) X. Direct Investment Purchases: Budget Amendments Mr. Longhi, CFO (Recommended Action: Approval of FY2020 Budget Adjustments) XI. Office Lease Renewal Mr. Longhi, CFO (Recommended Action: Approval of Lease Renewal) Discussion/Information XII. FY2020-2025 Six Year Program Update Ms. Backmon, Executive Director XIII. Finance Committee Mayor Parrish, Chair, FC XIV. Investment Portfolio Report Mr. Longhi, CFO XV. Monthly Revenue Report Mr. Longhi, CFO XVI. Operating Budget Report Mr. Longhi, CFO XVII. Executive Director’s Report Ms. Backmon, Executive Director XVIII. Chairman’s Comments Closed Session XIX. Adjournment Correspondence Next Meeting: November 14, 2019 at 7:00pm NVTA Offices 2 III. Thursday, September 12, 2019 7:00 p.m. 3040 Williams Drive, Suite 200 Fairfax, VA 22031 AGENDA I.
    [Show full text]
  • Transit Strategic Plan FY 2020-2029
    Transit Strategic Plan FY 2020-2029 NOVEMBER 2020 – FINAL Prepared For: Prepared By: Table of Contents Introduction.......................................................................................................................................................................... 1 Background & Purpose..................................................................................................................................................... 1 OmniRide Strategic Planning Process ............................................................................................................................. 1 Summary of Service Improvements ................................................................................................................................ 2 Chapter 1: System Overview and Strategic Vision ........................................................................................................... 4 System Overview .............................................................................................................................................................. 4 Services Provided and Areas Served ........................................................................................................................... 4 Current/Recent Initiatives............................................................................................................................................ 6 Strategic Vision ................................................................................................................................................................
    [Show full text]
  • Existing Slug Pick-Up Points
    TRANSPORTATION MANAGEMENT PLAN FOR BRAC 133 AT MARK CENTER Appendix D Existing Slug Pick-Up Points July 2010 Transportation Management Plan D-1 APPENDIX D – EXISTING SLUG PICK-UP POINTS AM Slug Pick Up Points-Springfield/Woodbridge Pickup location Destination Hours Parking Connecting Bus Lines Springfield Bob's: Just west of I-95 near the intersection of L'Enfant Plaza, 14th Street (all 5:45 - 7 am Commuter lot next to K- Fairfax Connector Old Keene Mill Road and Bland Street in points), Memorial Bridge Area, (good) 7-8 am Mart with 155 spaces route numbers are Springfield, VA. Currently the line still operates 23rd Street (excellent) (110, 111, 204), out of the Long John Silver's parking area. MetroBus (18A, B, However, at some point this line may move to the E, F,G, H, J, KL, P, R) commuter lot next to K-Mart. Daventry: The Daventry slug line is located in the Pentagon 5:30 - 7 am (very Limited curbside parking; Fairfax Connector Daventry Subdivision. Because of the safety good) 7 - 8 am Park on shoulder of hazard of stopping on this road, the line has (good) Hunter Village Drive but relocated from the bus stop on Old Keene Mill pay close attention to no Road to the new location about 50 yards south on parking signs. Hunter Village Drive. Slugs wait next to the curb in the median island. Cardinal Plaza: The Cardinal Forest (occasionally Pentagon 6-7 am (slow) 7-8 Commuter lot with 100 Metrobus (18P) and called Rolling Road) slug line operates next to the am (good) spaces; lot is in Cardinal Fairfax Connector Shell station on Old Keene Mill Road, across from Forest Shopping Center.
    [Show full text]