CSAIL 2016-C6 Details Servicing Compliance, Key Loan Performance

TL;DR

**CSAIL 2016-C6's 10-K reveals solid performance from its significant 200 Forest Street loan, but the complex web of servicing changes demands close scrutiny from investors.**

AI Summary

CSAIL 2016-C6 Commercial Mortgage Trust's 10-K filing for the fiscal year ended December 31, 2025, primarily details compliance with servicing criteria for its commercial mortgage-backed securities. The trust reported the 200 Forest Street Mortgage Loan, a significant obligor, had an unaudited net operating income of $9,551,285.39 for the twelve-month period ended December 31, 2025. Key business changes include Wells Fargo Bank, National Association selling its corporate trust services business to Computershare Trust Company, National Association (CTCNA), leading to CTCNA performing certain servicing functions. The Jay Scutti Plaza Mortgage Loan, representing approximately 3.3% of the asset pool at cut-off, and the Quaker Bridge Mall Mortgage Loan, representing approximately 8.7% of the asset pool at cut-off, are central to the trust's operations, with specific servicing agreements and participants detailed. Risks are primarily operational, related to the performance of various servicers and trustees, and the trust explicitly states no external credit enhancement or derivative instruments are provided. The strategic outlook focuses on continued compliance and administration of the mortgage loans through its network of servicers and trustees.

Why It Matters

This filing is crucial for investors in CSAIL 2016-C6 Commercial Mortgage Trust as it provides transparency into the operational health and compliance of the underlying mortgage loans. The unaudited net operating income of $9,551,285.39 for the 200 Forest Street Mortgage Loan offers a direct insight into the performance of a significant asset, impacting potential cash flows to certificate holders. The transition of servicing functions from Wells Fargo to Computershare Trust Company, National Association introduces a new competitive dynamic in the corporate trust services market and requires investors to understand the new operational structure. For employees of the various servicers, it outlines their specific roles and compliance responsibilities, while customers (borrowers) are indirectly affected by the efficiency and compliance of their loan servicers. The broader market gains insight into the ongoing administration of CMBS trusts, particularly regarding the detailed compliance requirements under Regulation AB.

Risk Assessment

Risk Level: medium — The risk level is medium due to the complex, multi-party servicing structure and the reliance on multiple entities for compliance. While the 200 Forest Street Mortgage Loan shows a healthy unaudited net operating income of $9,551,285.39, the explanatory notes highlight instances where trustees (Wells Fargo Bank, National Association and Wilmington Trust, National Association) did not perform certain servicing functions, shifting responsibility to master or special servicers. This intricate delegation, coupled with the transition of Wells Fargo's corporate trust business to Computershare Trust Company, National Association, introduces potential for operational missteps or communication gaps among the numerous parties involved in servicing the approximately 3.3% Jay Scutti Plaza Mortgage Loan and 8.7% Quaker Bridge Mall Mortgage Loan.

Analyst Insight

Investors should meticulously review the compliance reports from all listed servicers and function participants, especially given the recent transfer of Wells Fargo's corporate trust business to Computershare Trust Company, National Association. Focus on the performance metrics of the 200 Forest Street Mortgage Loan, which generated $9,551,285.39 in NOI, as a key indicator of asset health. Monitor any future filings for potential impacts of these servicing changes on loan performance or compliance adherence.

Financial Highlights

debt To Equity

N/A

revenue

$9,551,285.39

operating Margin

N/A

total Assets

N/A

total Debt

N/A

net Income

N/A

eps

N/A

gross Margin

N/A

cash Position

N/A

revenue Growth

N/A

Key Numbers

• $9,551,285.39 — Unaudited Net Operating Income (for the 200 Forest Street Mortgage Loan for the twelve-month period ended December 31, 2025)
• 3.3% — Percentage of asset pool (Jay Scutti Plaza Mortgage Loan's approximate share of the asset pool as of cut-off date)
• 8.7% — Percentage of asset pool (Quaker Bridge Mall Mortgage Loan's approximate share of the asset pool as of cut-off date)
• 2025-12-31 — Fiscal Year End Date (The period covered by this 10-K filing)
• 2016-05-01 — Pooling and Servicing Agreement Date (Date of the primary Pooling and Servicing Agreement for the trust)
• 2025-03-01 — Servicer Transition Date (Date Trimont LLC became Primary Servicer for Quaker Bridge Mall Mortgage Loan)

Key Players & Entities

• CSAIL 2016-C6 Commercial Mortgage Trust (company) — issuing entity
• Credit Suisse Commercial Mortgage Securities Corp. (company) — depositor
• Column Financial, Inc. (company) — sponsor
• Benefit Street Partners CRE Finance LLC (company) — sponsor
• The Bank of New York Mellon (company) — sponsor
• MC-Five Mile Commercial Mortgage Finance LLC (company) — sponsor
• The Bancorp Bank, National Association (company) — sponsor
• Wells Fargo Bank, National Association (company) — certificate administrator, custodian, trustee, primary servicer
• Computershare Trust Company, National Association (company) — servicing function participant for certificate administrator and custodian
• CoreLogic Solutions, LLC (company) — servicer for tax payments

FAQ

Risk Factors

• Servicer and Trustee Performance [medium — operational]: The trust's operations are heavily reliant on the performance of various servicers and trustees, including KeyBank National Association, Torchlight Loan Services, LLC, Wells Fargo Bank, National Association, and Computershare Trust Company, National Association (CTCNA). Any failure or deficiency in their servicing functions could impact the trust's administration and compliance with servicing criteria.
• Servicer Transition Impact [medium — operational]: Wells Fargo Bank, National Association's sale of its corporate trust services business to CTCNA introduces a transition risk. While CTCNA is performing certain servicing functions, the effectiveness and continuity of these services post-transition are critical for the trust's ongoing operations.
• Lack of External Credit Enhancement [high — financial]: The trust explicitly states that no external credit enhancement or derivative instruments are provided. This means the performance of the mortgage loans and the underlying collateral are the sole determinants of returns, increasing exposure to credit risk.

Industry Context

The commercial mortgage-backed securities (CMBS) market operates within a complex regulatory and operational framework. Trusts like CSAIL 2016-C6 are structured to pool and securitize commercial real estate loans, with performance heavily dependent on the underlying real estate and the effectiveness of loan servicers. Key trends include ongoing servicer consolidation and the increasing importance of robust compliance with servicing standards.

Regulatory Implications

The primary regulatory focus for this trust is compliance with the servicing criteria for asset-backed securities, as detailed in the 10-K. Any deviations or failures in meeting these criteria could lead to regulatory scrutiny and potential penalties, impacting investor confidence.

What Investors Should Do

1. Monitor Servicer Performance
2. Assess Loan Concentration Risk
3. Evaluate Credit Risk Exposure

Key Dates

• 2025-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing, providing the latest financial and operational data.
• 2016-05-01: Pooling and Servicing Agreement Date — Establishes the foundational agreement governing the trust's operations and the servicing of its mortgage loans.
• 2025-03-01: Servicer Transition Date — Indicates the date Trimont LLC became the Primary Servicer for the Quaker Bridge Mall Mortgage Loan, a key operational change.

Glossary

Pooling and Servicing Agreement (PSA)

A legal contract that outlines the terms and conditions under which a pool of mortgage loans is securitized and serviced. (This is the primary governing document for the CSAIL 2016-C6 Commercial Mortgage Trust, detailing the roles and responsibilities of various parties involved in servicing the mortgage loans.)

Asset Pool

The collection of mortgage loans that are part of the securitization trust. (Key loans like Jay Scutti Plaza and Quaker Bridge Mall are described by their percentage of this asset pool, indicating their relative significance to the trust's value.)

Pari Passu Loan

A loan that ranks equally with other loans in terms of priority of payment and claim on collateral. (The Jay Scutti Plaza and Quaker Bridge Mall loans are part of loan combinations that include pari passu components, affecting how they are serviced and their risk profile.)

Servicing Criteria

A set of standards and requirements that servicers must adhere to when managing mortgage loans within a securitization trust. (The 10-K filing primarily details the trust's compliance with these criteria, which is crucial for investor confidence and regulatory adherence.)

Certificate Administrator

The entity responsible for administering the trust's certificates, including calculating distributions to certificateholders. (Wells Fargo Bank, National Association, and subsequently Computershare Trust Company, National Association, perform this role, highlighting a key operational function.)

Year-Over-Year Comparison

This 10-K filing for the fiscal year ended December 31, 2025, focuses heavily on servicing criteria compliance and operational details, rather than a direct comparison of financial metrics to a prior year. Key operational changes include the transition of corporate trust services from Wells Fargo to Computershare Trust Company, National Association. Specific financial performance data, such as revenue growth or net income, is not detailed in the provided excerpts, making a direct year-over-year comparison of financial highlights impossible.

Key Financial Figures

• $9,551,285.39 — g income of the significant obligor was $9,551,285.39 for the twelve-month period ended Decem

Filing Documents

• csc16sa6_10k-2025.htm (10-K) — 88KB
• csc16sa6_31.htm (EX-31) — 9KB
• csc16sa6_33-1.htm (EX-33.1) — 2773KB
• csc16sa6_33-2.htm (EX-33.2) — 138KB
• csc16sa6_33-3.htm (EX-33.3) — 357KB
• csc16sa6_33-4.htm (EX-33.4) — 703KB
• csc16sa6_33-5.htm (EX-33.5) — 992KB
• csc16sa6_33-6.htm (EX-33.6) — 1420KB
• csc16sa6_33-7.htm (EX-33.7) — 3113KB
• csc16sa6_33-14.htm (EX-33.14) — 626KB
• csc16sa6_33-15.htm (EX-33.15) — 600KB
• csc16sa6_33-16.htm (EX-33.16) — 172KB
• csc16sa6_33-19.htm (EX-33.19) — 597KB
• csc16sa6_33-20.htm (EX-33.20) — 86KB
• csc16sa6_34-1.htm (EX-34.1) — 10KB
• csc16sa6_34-2.htm (EX-34.2) — 7KB
• csc16sa6_34-3.htm (EX-34.3) — 14KB
• csc16sa6_34-4.htm (EX-34.4) — 14KB
• csc16sa6_34-5.htm (EX-34.5) — 693KB
• csc16sa6_34-6.htm (EX-34.6) — 11KB
• csc16sa6_34-7.htm (EX-34.7) — 11KB
• csc16sa6_34-14.htm (EX-34.14) — 10KB
• csc16sa6_34-15.htm (EX-34.15) — 13KB
• csc16sa6_34-16.htm (EX-34.16) — 9KB
• csc16sa6_34-19.htm (EX-34.19) — 7KB
• csc16sa6_34-20.htm (EX-34.20) — 8KB
• csc16sa6_35-1.htm (EX-35.1) — 1086KB
• csc16sa6_35-2.htm (EX-35.2) — 65KB
• csc16sa6_35-3.htm (EX-35.3) — 1896KB
• csc16sa6_35-4.htm (EX-35.4) — 2593KB
• csc16sa6_35-7.htm (EX-35.7) — 2224KB
• 0001888524-26-005000.txt ( ) — 20346KB

financial statements. o

financial statements. o Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). o Yes No common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. Not applicable. Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. o Yes o No Not applicable. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Not applicable. DOCUMENTS INCORPORATED BY REFERENCE List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980). Not applicable. EXPLANATORY NOTES The Jay Scutti Plaza Mortgage Loan, which constituted approximately 3.3% of the asset pool of the issuing entity as of its cut-off date, is an asset of the issuing entity and is part of a loan combination that includes the Jay S

(a)(2)(i) through (iii) of Regulation AB

Item 1108(a)(2)(i) through (iii) of Regulation AB. With respect to the pari passu loan combination that includes the Quaker Bridge Mall Mortgage Loan, the servicer compliance statements of Trimont LLC as primary servicer of the Quaker Bridge Mall Mortgage Loan on and after March 1, 2025 and Midland Loan Services, a Division of PNC Bank, National Association as special servicer of the Quaker Bridge Mall Mortgage Loan, listed on the Exhibit Index are omitted from this Annual Report on Form 10-K as they are not required by

of Regulation AB to be included on this Annual Report on Form 10-K

Item 1123 of Regulation AB to be included on this Annual Report on Form 10-K because they are each an unaffiliated party that is not a "servicer" that meets the criteria in Item 1108(a)(2)(i) through (iii) of Regulation AB. PART I

Business

Item 1. Business. Omitted.

Risk Factors

Item 1A. Risk Factors. Omitted.

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. None.

Cybersecurity

Item 1C. Cybersecurity. Omitted.

Properties

Item 2. Properties. Omitted.

Legal Proceedings

Item 3. Legal Proceedings. Omitted.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. Not applicable. PART II

Market for Registrant's Common Equity,

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Omitted. Item 6. [Reserved].

Management's Discussion and Analysis of

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. Omitted.

Quantitative and Qualitative Disclosures

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. Omitted.

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. Omitted.

Changes in and Disagreements With

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Omitted.

Controls and Procedures

Item 9A. Controls and Procedures. Omitted.

Other Information

Item 9B. Other Information. None.

Disclosure Regarding Foreign Jurisdictions

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. None. PART III

Directors, Executive Officers and Corporate

Item 10. Directors, Executive Officers and Corporate Governance. Omitted.

Executive Compensation

Item 11. Executive Compensation. Omitted.

Security Ownership of Certain Beneficial

Item 12. Security Ownership of Certain Beneficial Omitted.

Certain Relationships and Related

Item 13. Certain Relationships and Related Transactions, and Director Independence. Omitted.

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services. Omitted. ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

(b) of Regulation AB, Significant Obligor

Item 1112(b) of Regulation AB, Significant Obligor Financial Information. The 200 Forest Street Mortgage Loan (Loan ID 2 on Annex A-1 of the prospectus of the registrant relating to the issuing entity filed on May 26, 2016 pursuant to Rule 424(b)(2)) constitutes a significant obligor within the meaning of Item 1101(k)(2) of Regulation AB as disclosed in the prospectus. In accordance with Item 1112(b) of Regulation AB, the most recent unaudited net operating income of the significant obligor was $9,551,285.39 for the twelve-month period ended December 31, 2025.

(b)(2) of Regulation AB, Significant Enhancement

Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider Financial Information. No entity or group of affiliated entities provides any external credit enhancement or other support for the certificates within this transaction as described under Item 1114(a) of Regulation AB.

(b) of Regulation AB, Certain Derivatives

Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information). No entity or group of affiliated entities provides any derivative instruments or other support for the certificates within this transaction as described under Item 1115 of Regulation AB.

of Regulation AB, Legal Proceedings

Item 1117 of Regulation AB, Legal Proceedings. The registrant knows of no material pending legal proceeding involving the trust or any party related to the trust, other than routine litigation incidental to the duties of those respective parties.

of Regulation AB, Affiliations and Certain

Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related Transactions. The information regarding this Item has been previously provided in the prospectus of the Registrant relating to the issuing entity filed on May 26, 2016 pursuant to Rule 424(b)(2).

of Regulation AB, Compliance with Applicable

Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria. The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to the mortgage loans are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the Pooling and Servicing Agreement incorporated by reference as Exhibit 4.1 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the transaction responsible for each applicable servicing criteria set forth in Item 1122(d). The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to the Quaker Bridge Mall Mortgage Loan, which is being serviced and administered pursuant to the pooling and servicing agreement for the JPMDB 2016-C2 Transaction, are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the pooling and servicing agreement for the JPMDB 2016-C2 Transaction incorporated by reference as Exhibit 4.2 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the JPMDB 2016-C2 Transaction responsible for each applicable servicing criteria set forth in

of Regulation AB, Servicer Compliance Statement

Item 1123 of Regulation AB, Servicer Compliance Statement. The servicer compliance statements are attached as Exhibits to this Annual Report on Form 10-K. PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. (a) The following is a list of documents filed as part of this Annual Report on Form 10-K: (1) Not applicable (2) Not applicable (3) See below 4.1 Pooling and Servicing Agreement, dated as of May 1, 2016, by and among Credit Suisse Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as Master Servicer, Torchlight Loan Services, LLC, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator and Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and Asset Representations Reviewer (filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K filed on May 26, 2016 under Commission File No. 333-207361-02 and incorporated by reference herein). 4.2 Pooling and Servicing Agreement, dated as of May 1, 2016, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and Asset Representations Reviewer (filed as Exhibit 4.3 to the registrant's Current Report on Form 8-K filed on May 26, 2016 under Commission File No. 333-207361-02 and incorporated by reference herein). 4.3 Agreement Between Noteholders, dated as of May 9, 2016, by MC-Five Mile SPE B LLC, as Initial Note A-1 Holder, MC-Five Mile SPE B LLC, as Initial Agent, and MC-Five Mile SPE B LLC, as Initial Note A-2 Holder (filed as Exhibit 4.9 to the registrant's Current Report on Form 8-K filed on May 26, 2016 under Commission File No. 333-207361-02 and incorporated by reference herein). 4.4 Agreement Between Noteholders, dated as of April 25, 2016, by and between JPMorgan Chase Bank, National Association, as Initial Note A-1 Ho

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