PRESALE REPORT BANK 2020-BNK26 FEBRUARY 2020 STRUCTURED FINANCE: CMBS Table of Contents Capital Structure 3 Transaction Summary 4 Rating Considerations 5 DBRS Morningstar Credit Characteristics 7 Largest Loan Summary 8 DBRS Morningstar Sample 9 Transaction Concentrations 11 Loan Structural Features 12 FTERE Bronx Portfolio 3 16 Bravern Office Commons 21 560 Mission Street 25 200 West 57th Street 29 545 Washington Boulevard 34 55 Hudson Yards 39 AD1 Global Portfolio 44 1633 Broadway 51 Bellagio Hotel and Casino 56 K Street and F Street Office Portfolio 62 Marriott Richmond Dual Brand 67 Steeples Apartments 71 Coral Sky Plaza 75 Embassy Suites – Charlotte 80 Prince William Square 85 Transaction Structural Features 89 Methodologies 91 Surveillance 91 Glossary 92 Definitions 92 Jake Noeldner Dan Kastilahn Senior Financial Analyst Senior 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 | BANK 2020-BNK26 Capital Structure Description Rating Action Balance ($) Subordination (%) DBRS Morningstar Trend Rating Class A-1 New Rating - Provisional 27,400,000 30.000 AAA (sf) Stable Class A-2 New Rating - Provisional 95,000,000 30.000 AAA (sf) Stable Class A-SB New Rating - Provisional 38,600,000 30.000 AAA (sf) Stable Class A-3 New Rating - Provisional 150,000,000- 30.000 AAA (sf) Stable 295,000,000 Class A-4