Natixis Commercial Mortgage Securities Trust 2019-LVL Certificates Assigned Ratings


  • Natixis Commercial Mortgage Securities Trust 2019-LVL's issuance is a CMBS transaction backed primarily by a $106.6 million senior portion and a $99.4 million subordinate portion (combined, the "trust loan") of a $380.0 million, 120-month, fixed-rate mortgage loan (the "whole loan"), which is secured by a fee simple interest held by 2 North 6th Place Property Owner LLC, a Delaware limited liability company (the "borrower"), in the 2 North 6th Place building, a 554-unit, newly constructed class A, high-rise residential tower located in Brooklyn, N.Y. (the "property"). The senior trust portion is pari passu with two non-trust senior companion notes totaling $54.0 million.
  • We assigned our ratings to the class A, X-A, X-B, B, C, D, and E certificates.
  • The ratings reflect our view of the transaction's structure, the loan's terms, and the collateral's performance, among other factors.
 
NEW YORK (S&P Global Ratings) April 23, 2019--S&P Global Ratings today 
assigned its ratings to Natixis Commercial Mortgage Securities Trust 2019-LVL's
 commercial mortgage pass-through certificates series 2019-LVL (see list).

The certificates issuance is a commercial mortgage-backed securities (CMBS) 
transaction backed primarily by a $106.6 million senior portion and a $99.4 
million subordinate portion (combined, the "trust loan") of a $380.0 million, 
120-month, fixed-rate mortgage loan (the "whole loan"), which is secured by a 
fee simple interest held by 2 North 6th Place Property Owner LLC, a Delaware 
limited liability company (the "borrower"), in the 2 North 6th Place building, 
a 554-unit, newly constructed class A, high-rise residential tower located in 
Brooklyn, N.Y. (the "property"). The senior trust portion is pari passu with 
two non-trust senior companion notes totaling $54.0 million.

The ratings reflect our view of the collateral's historical and projected 
performance, the sponsors' and managers' experience, the trustee-provided 
liquidity, the loan's terms, and the transaction's structure. 

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