Fitch Ratings announced on February 27, 2025, that it has assigned expected ratings to the J.P. Morgan Chase Commercial Mortgage Securities Trust 2025-BHR5. This trust holds a $363 million, two-year, floating-rate, interest-only mortgage loan with three one-year extension options.
The expected ratings include 'AAA(EXP)sf' for the Class A certificates and 'AA-(EXP)sf' for the Class B certificates. The mortgage loan is secured by a portfolio of five full-service hotel properties, including Dorado Beach, Seattle Marriott Waterfront, The Notary Hotel, The Clancy, and Sofitel Chicago Magnificent Mile.
This financing is intended to refinance $355.0 million of existing debt and cover approximately $8.0 million in closing costs. The assignment of these expected ratings indicates significant progress towards securing the refinancing for these key assets.
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