BBCMS Mortgage Trust 2025-5C34: loan annex
Page built October 19, 2026
Loan detail for BBCMS Mortgage Trust 2025-5C34.
Data as of loan data through September 2026; ratings as held in the dataset at 2026-10-15
← BBCMS Mortgage Trust 2025-5C34 · CMBS market
Detail sections for the 29 loans of this deal that do not have a page of their own. Loans with a surveillance history, loans at or above the section's size threshold of $25.0M, and the largest loans in the deal have their own pages, linked from the loan table on the deal page. Every loan in the deal appears either here or on its own page.
MIA WEST
| Property | MIA WEST |
| Address | 12903 BRANT ROCK DRIVE; Houston, TX 77082 |
| Property type | Multifamily |
| Units, beds or keys | 270 |
| Net rentable square feet | not yet reported |
| Year built | 1983 |
| Year last renovated | 2024 |
| Original balance | $24.0M |
| Current balance | $24.0M (September 2026) |
| Share of deal balance | 3.1% |
| Interest rate at origination | 6.65% |
| Current interest rate | 6.65% |
| Origination date | 03-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $1.3M |
| Operating expenses | $701,138 |
| Net operating income | $562,042 |
| Net cash flow | $528,292 |
| DSCR (net cash flow) | 0.65 |
| DSCR (net operating income) | 0.70 |
| Occupancy | 75% |
| Servicer advances outstanding | $0 |
Uber Headquarters
| Property | Uber Headquarters |
| Address | San Francisco, CA |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | 2019 |
| Year last renovated | not yet reported |
| Original balance | $33.3M |
| Current balance | $20.0M (September 2026) |
| Share of deal balance | 2.6% |
| Interest rate at origination | 5.87% |
| Current interest rate | 5.87% |
| Origination date | 02-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-10 |
| Prepayment lockout end | 03-09-2027 |
| Yield maintenance end | 08-09-2029 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 03-31-2026 |
| Revenue | $17.7M |
| Operating expenses | $6.6M |
| Net operating income | $11.1M |
| Net cash flow | $11.0M |
| DSCR (net cash flow) | 1.37 |
| DSCR (net operating income) | 1.37 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
MIA EAST
| Property | MIA EAST |
| Address | 3950 ASHBURNHAM DRIVE; Houston, TX 77082 |
| Property type | Multifamily |
| Units, beds or keys | 224 |
| Net rentable square feet | not yet reported |
| Year built | 1983 |
| Year last renovated | 2024 |
| Original balance | $19.0M |
| Current balance | $19.0M (September 2026) |
| Share of deal balance | 2.4% |
| Interest rate at origination | 6.82% |
| Current interest rate | 6.82% |
| Origination date | 03-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $1.1M |
| Operating expenses | $672,126 |
| Net operating income | $431,919 |
| Net cash flow | $403,919 |
| DSCR (net cash flow) | 0.62 |
| DSCR (net operating income) | 0.66 |
| Occupancy | 72% |
| Servicer advances outstanding | $0 |
SOHO HOUSE CHICAGO
| Property | SOHO HOUSE CHICAGO |
| Address | 113-125 NORTH GREEN STREET; Chicago, IL 60607 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 115,000 |
| Year built | 1907 |
| Year last renovated | 2014 |
| Original balance | $29.0M |
| Current balance | $17.0M (September 2026) |
| Share of deal balance | 2.2% |
| Interest rate at origination | 6.78% |
| Current interest rate | 6.78% |
| Origination date | 02-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-06 |
| Prepayment lockout end | 03-05-2027 |
| Yield maintenance end | 08-05-2029 |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $9.9M |
| Operating expenses | $669,005 |
| Net operating income | $9.2M |
| Net cash flow | $9.2M |
| DSCR (net cash flow) | 2.07 |
| DSCR (net operating income) | 2.07 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
120 JERICHO TURNPIKE
| Property | 120 JERICHO TURNPIKE |
| Address | 120 JERICHO TURNPIKE; Jericho, NY 11753 |
| Property type | Multifamily |
| Units, beds or keys | 180 |
| Net rentable square feet | not yet reported |
| Year built | 1968 |
| Year last renovated | 2023 |
| Original balance | $16.0M |
| Current balance | $16.0M (September 2026) |
| Share of deal balance | 2.0% |
| Interest rate at origination | 6.95% |
| Current interest rate | 6.95% |
| Origination date | 04-03-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-01 |
| Prepayment lockout end | 11-30-2029 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
HOLLISTER PLACE APARTMENTS
| Property | HOLLISTER PLACE APARTMENTS |
| Address | 6565 HOLLISTER STREET; Houston, TX 77040 |
| Property type | Multifamily |
| Units, beds or keys | 260 |
| Net rentable square feet | not yet reported |
| Year built | 1997 |
| Year last renovated | 2024 |
| Original balance | $21.3M |
| Current balance | $13.8M (September 2026) |
| Share of deal balance | 1.8% |
| Interest rate at origination | 6.81% |
| Current interest rate | 6.81% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 11-05-2025 |
| Yield maintenance end | 01-05-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC, KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $2.1M |
| Operating expenses | $1.2M |
| Net operating income | $855,791 |
| Net cash flow | $823,291 |
| DSCR (net cash flow) | 1.12 |
| DSCR (net operating income) | 1.17 |
| Occupancy | 90% |
| Servicer advances outstanding | $0 |
Loan 9A
| Property | Loan 9A |
| Address | not yet reported |
| Property type | not yet reported |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $13.3M |
| Current balance | $13.3M (September 2026) |
| Share of deal balance | 1.7% |
| Interest rate at origination | 5.87% |
| Current interest rate | 5.87% |
| Origination date | 02-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-10 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | not yet reported |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
SPRING MOUNTAIN APARTMENTS
| Property | SPRING MOUNTAIN APARTMENTS |
| Address | 240 EDITH AVENUE; Corning, CA 96021 |
| Property type | Multifamily |
| Units, beds or keys | 184 |
| Net rentable square feet | not yet reported |
| Year built | 1986 |
| Year last renovated | not yet reported |
| Original balance | $12.9M |
| Current balance | $12.9M (September 2026) |
| Share of deal balance | 1.7% |
| Interest rate at origination | 7.09% |
| Current interest rate | 7.09% |
| Origination date | 04-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-06 |
| Prepayment lockout end | 06-05-2027 |
| Yield maintenance end | 01-05-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 03-31-2026 |
| Revenue | $472,413 |
| Operating expenses | $184,320 |
| Net operating income | $288,093 |
| Net cash flow | $273,419 |
| DSCR (net cash flow) | 1.19 |
| DSCR (net operating income) | 1.25 |
| Occupancy | 80% |
| Servicer advances outstanding | $0 |
DELTA BY MARRIOTT ALLENTOWN
| Property | DELTA BY MARRIOTT ALLENTOWN |
| Address | 7736 ADRIENNE DRIVE; Breinigsville, PA 18031 |
| Property type | Lodging |
| Units, beds or keys | 185 |
| Net rentable square feet | not yet reported |
| Year built | 1988 |
| Year last renovated | 2022 |
| Original balance | $12.8M |
| Current balance | $12.6M (September 2026) |
| Share of deal balance | 1.6% |
| Interest rate at origination | 7.99% |
| Current interest rate | 7.99% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | 360 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 12-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $6.7M |
| Operating expenses | $5.1M |
| Net operating income | $1.6M |
| Net cash flow | $1.4M |
| DSCR (net cash flow) | 1.23 |
| DSCR (net operating income) | 1.47 |
| Occupancy | 56% |
| Servicer advances outstanding | $0 |
Loan 12A
| Property | Loan 12A |
| Address | not yet reported |
| Property type | not yet reported |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $12.0M |
| Current balance | $12.0M (September 2026) |
| Share of deal balance | 1.5% |
| Interest rate at origination | 6.78% |
| Current interest rate | 6.78% |
| Origination date | 02-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-06 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | not yet reported |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
132-138 MULBERRY STREET
| Property | 132-138 MULBERRY STREET |
| Address | 132-138 MULBERRY STREET; New York, NY 10013 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 10,927 |
| Year built | 1915 |
| Year last renovated | 2018 |
| Original balance | $9.5M |
| Current balance | $9.5M (September 2026) |
| Share of deal balance | 1.2% |
| Interest rate at origination | 7.55% |
| Current interest rate | 7.55% |
| Origination date | 04-11-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 05-05-2027 |
| Yield maintenance end | 10-05-2029 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 03-31-2026 |
| Revenue | $319,620 |
| Operating expenses | $105,213 |
| Net operating income | $214,407 |
| Net cash flow | $211,034 |
| DSCR (net cash flow) | 1.18 |
| DSCR (net operating income) | 1.20 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
BROOKLEY POINTE APARTMENTS
| Property | BROOKLEY POINTE APARTMENTS |
| Address | 600 SOUTH WASHINGTON AVENUE; Mobile, AL 36603 |
| Property type | Multifamily |
| Units, beds or keys | 224 |
| Net rentable square feet | not yet reported |
| Year built | 1979 |
| Year last renovated | 2012 |
| Original balance | $9.2M |
| Current balance | $9.2M (September 2026) |
| Share of deal balance | 1.2% |
| Interest rate at origination | 6.57% |
| Current interest rate | 6.57% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $1.1M |
| Operating expenses | $548,853 |
| Net operating income | $512,637 |
| Net cash flow | $479,037 |
| DSCR (net cash flow) | 1.56 |
| DSCR (net operating income) | 1.67 |
| Occupancy | 84% |
| Servicer advances outstanding | $0 |
ARLINGTON VILLAGE
| Property | ARLINGTON VILLAGE |
| Address | 1301 NORTH COLLINS STREET; Arlington, TX 76011 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 76,984 |
| Year built | 1988 |
| Year last renovated | not yet reported |
| Original balance | $9.2M |
| Current balance | $9.2M (September 2026) |
| Share of deal balance | 1.2% |
| Interest rate at origination | 6.76% |
| Current interest rate | 6.76% |
| Origination date | 04-04-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 10-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | German American Capital Corporation |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $665,315 |
| Operating expenses | $177,115 |
| Net operating income | $488,200 |
| Net cash flow | $463,180 |
| DSCR (net cash flow) | 1.48 |
| DSCR (net operating income) | 1.56 |
| Occupancy | 91% |
| Servicer advances outstanding | $0 |
333 PHOENIXVILLE
| Property | 333 PHOENIXVILLE |
| Address | 333 PHOENIXVILLE PIKE; Malvern, PA 19355 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 84,000 |
| Year built | 1985 |
| Year last renovated | not yet reported |
| Original balance | $9.0M |
| Current balance | $9.0M (September 2026) |
| Share of deal balance | 1.1% |
| Interest rate at origination | 7.20% |
| Current interest rate | 7.20% |
| Origination date | 02-28-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-03-06 |
| Prepayment lockout end | 12-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | UBS AG |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $691,763 |
| Operating expenses | $167,616 |
| Net operating income | $524,147 |
| Net cash flow | $483,434 |
| DSCR (net cash flow) | 1.48 |
| DSCR (net operating income) | 1.60 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
VILLA HILLS APARTMENTS
| Property | VILLA HILLS APARTMENTS |
| Address | 3721, 3731, 3741, 3755, 3759 AND 3775-3779 WESTMONT DRIVE; Cincinnati, OH 45205 |
| Property type | Multifamily |
| Units, beds or keys | 144 |
| Net rentable square feet | not yet reported |
| Year built | 1977 |
| Year last renovated | 2023 |
| Original balance | $9.0M |
| Current balance | $9.0M (September 2026) |
| Share of deal balance | 1.1% |
| Interest rate at origination | 7.26% |
| Current interest rate | 7.26% |
| Origination date | 03-28-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 10-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | UBS AG |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
CUTLERWOOD APARTMENTS
| Property | CUTLERWOOD APARTMENTS |
| Address | 20001 SOUTHWEST 110TH COURT; Cutler Bay, FL 33189 |
| Property type | Multifamily |
| Units, beds or keys | 161 |
| Net rentable square feet | not yet reported |
| Year built | 1963 |
| Year last renovated | 2001 |
| Original balance | $8.4M |
| Current balance | $8.4M (September 2026) |
| Share of deal balance | 1.1% |
| Interest rate at origination | 6.45% |
| Current interest rate | 6.45% |
| Origination date | 04-03-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $1.1M |
| Operating expenses | $689,632 |
| Net operating income | $421,320 |
| Net cash flow | $397,170 |
| DSCR (net cash flow) | 1.45 |
| DSCR (net operating income) | 1.54 |
| Occupancy | 98% |
| Servicer advances outstanding | $0 |
FLORISSANT MARKETPLACE
| Property | FLORISSANT MARKETPLACE |
| Address | 8182-8234 NORTH LINDBERGH BOULEVARD; Florissant, MO 63031 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 146,260 |
| Year built | 1973 |
| Year last renovated | not yet reported |
| Original balance | $8.1M |
| Current balance | $8.1M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 7.19% |
| Current interest rate | 7.19% |
| Origination date | 04-11-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-01 |
| Prepayment lockout end | 11-30-2029 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $914,851 |
| Operating expenses | $795,247 |
| Net operating income | $119,604 |
| Net cash flow | $-23,930 |
| DSCR (net cash flow) | -0.04 |
| DSCR (net operating income) | 0.20 |
| Occupancy | 98% |
| Servicer advances outstanding | $0 |
321 FRANKLIN
| Property | 321 FRANKLIN |
| Address | 321 FRANKLIN AVENUE; Brooklyn, NY 11238 |
| Property type | Multifamily |
| Units, beds or keys | 10 |
| Net rentable square feet | not yet reported |
| Year built | 2024 |
| Year last renovated | not yet reported |
| Original balance | $8.0M |
| Current balance | $8.0M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 7.15% |
| Current interest rate | 7.15% |
| Origination date | 04-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-06 |
| Prepayment lockout end | 02-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | BSPRT CMBS Finance, LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $479,774 |
| Operating expenses | $89,448 |
| Net operating income | $390,326 |
| Net cash flow | $385,073 |
| DSCR (net cash flow) | 1.33 |
| DSCR (net operating income) | 1.35 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
LOCKAWAY STORAGE - OCONNOR
| Property | LOCKAWAY STORAGE - OCONNOR |
| Address | 17402 OCONNOR ROAD; San Antonio, TX 78247 |
| Property type | Self storage |
| Units, beds or keys | 724 |
| Net rentable square feet | 87,641 |
| Year built | 2005 |
| Year last renovated | not yet reported |
| Original balance | $8.0M |
| Current balance | $8.0M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 6.80% |
| Current interest rate | 6.80% |
| Origination date | 03-31-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-01 |
| Prepayment lockout end | 09-30-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $1.2M |
| Operating expenses | $611,386 |
| Net operating income | $623,359 |
| Net cash flow | $614,595 |
| DSCR (net cash flow) | 1.11 |
| DSCR (net operating income) | 1.13 |
| Occupancy | 92% |
| Servicer advances outstanding | $0 |
PORTERWOOD APARTMENTS
| Property | PORTERWOOD APARTMENTS |
| Address | 24270 FM 1314 ROAD; Porter, TX 77365 |
| Property type | Multifamily |
| Units, beds or keys | 136 |
| Net rentable square feet | not yet reported |
| Year built | 1984 |
| Year last renovated | 2010 |
| Original balance | $11.9M |
| Current balance | $7.7M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 6.36% |
| Current interest rate | 6.36% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 11-05-2025 |
| Yield maintenance end | 01-05-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC, KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $987,747 |
| Operating expenses | $475,426 |
| Net operating income | $512,321 |
| Net cash flow | $495,321 |
| DSCR (net cash flow) | 1.29 |
| DSCR (net operating income) | 1.34 |
| Occupancy | 98% |
| Servicer advances outstanding | $0 |
344 LORIMER
| Property | 344 LORIMER |
| Address | 344 LORIMER STREET; Brooklyn, NY 11206 |
| Property type | Mixed use |
| Units, beds or keys | 8 |
| Net rentable square feet | not yet reported |
| Year built | 2024 |
| Year last renovated | not yet reported |
| Original balance | $7.5M |
| Current balance | $7.5M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 6.29% |
| Current interest rate | 6.29% |
| Origination date | 04-01-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 12-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $358,937 |
| Operating expenses | $33,897 |
| Net operating income | $325,040 |
| Net cash flow | $320,791 |
| DSCR (net cash flow) | 1.34 |
| DSCR (net operating income) | 1.36 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
Loan 15A
| Property | Loan 15A |
| Address | not yet reported |
| Property type | not yet reported |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $7.5M |
| Current balance | $7.5M (September 2026) |
| Share of deal balance | 1.0% |
| Interest rate at origination | 6.81% |
| Current interest rate | 6.81% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | not yet reported |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC, KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
CLINTON MEDICAL OFFICE
| Property | CLINTON MEDICAL OFFICE |
| Address | 9131 PISCATAWAY ROAD; Clinton, MD 20735 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 59,892 |
| Year built | 1974 |
| Year last renovated | 2022 |
| Original balance | $7.1M |
| Current balance | $7.0M (September 2026) |
| Share of deal balance | 0.9% |
| Interest rate at origination | 7.15% |
| Current interest rate | 7.15% |
| Origination date | 04-04-2025 |
| Original term | 60 months |
| Amortization term | 360 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $961,963 |
| Operating expenses | $539,533 |
| Net operating income | $422,430 |
| Net cash flow | $382,524 |
| DSCR (net cash flow) | 1.33 |
| DSCR (net operating income) | 1.47 |
| Occupancy | 91% |
| Servicer advances outstanding | $0 |
CANDLEWOOD SUITES WICHITA
| Property | CANDLEWOOD SUITES WICHITA |
| Address | 5211 EAST KELLOGG AVENUE; Wichita, KS 67218 |
| Property type | Lodging |
| Units, beds or keys | 91 |
| Net rentable square feet | not yet reported |
| Year built | 1986 |
| Year last renovated | 2018 |
| Original balance | $6.7M |
| Current balance | $6.6M (September 2026) |
| Share of deal balance | 0.8% |
| Interest rate at origination | 7.50% |
| Current interest rate | 7.50% |
| Origination date | 04-03-2025 |
| Original term | 60 months |
| Amortization term | 300 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | 01-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $2.6M |
| Operating expenses | $1.8M |
| Net operating income | $826,590 |
| Net cash flow | $723,067 |
| DSCR (net cash flow) | 1.22 |
| DSCR (net operating income) | 1.39 |
| Occupancy | 79% |
| Servicer advances outstanding | $0 |
151 BALTIC STREET
| Property | 151 BALTIC STREET |
| Address | 151 BALTIC STREET; Brooklyn, NY 11201 |
| Property type | Multifamily |
| Units, beds or keys | 5 |
| Net rentable square feet | not yet reported |
| Year built | 1888 |
| Year last renovated | 2024 |
| Original balance | $5.9M |
| Current balance | $5.9M (September 2026) |
| Share of deal balance | 0.8% |
| Interest rate at origination | 5.85% |
| Current interest rate | 5.85% |
| Origination date | 04-11-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-05-06 |
| Prepayment lockout end | 06-05-2026 |
| Yield maintenance end | 01-05-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | DBR Investments Co. Limited |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 06-30-2026 |
| Revenue | $287,309 |
| Operating expenses | $58,619 |
| Net operating income | $228,690 |
| Net cash flow | $228,065 |
| DSCR (net cash flow) | 1.31 |
| DSCR (net operating income) | 1.31 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
METALMASTER WAY
| Property | METALMASTER WAY |
| Address | 4800 METALMASTER WAY; McHenry, IL 60050 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 83,744 |
| Year built | 2002 |
| Year last renovated | not yet reported |
| Original balance | $5.9M |
| Current balance | $5.9M (September 2026) |
| Share of deal balance | 0.8% |
| Interest rate at origination | 7.45% |
| Current interest rate | 7.45% |
| Origination date | 01-29-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-01 |
| Prepayment lockout end | 08-31-2029 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $889,393 |
| Operating expenses | $246,653 |
| Net operating income | $642,740 |
| Net cash flow | $577,988 |
| DSCR (net cash flow) | 1.41 |
| DSCR (net operating income) | 1.57 |
| Occupancy | 100% |
| Servicer advances outstanding | $0 |
Loan 20A
| Property | Loan 20A |
| Address | not yet reported |
| Property type | not yet reported |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | not yet reported |
| Original balance | $4.2M |
| Current balance | $4.2M (September 2026) |
| Share of deal balance | 0.5% |
| Interest rate at origination | 6.36% |
| Current interest rate | 6.36% |
| Origination date | 04-02-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-06 |
| Prepayment lockout end | not yet reported |
| Yield maintenance end | not yet reported |
| Servicer | not yet reported |
| Loan servicer | not yet reported |
| Originator | Argentic Real Estate Finance 2 LLC, KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Latest financials
| Financial period end (latest) | not yet reported |
| Revenue | not yet reported |
| Operating expenses | not yet reported |
| Net operating income | not yet reported |
| Net cash flow | not yet reported |
| DSCR (net cash flow) | not yet reported |
| DSCR (net operating income) | not yet reported |
| Occupancy | not yet reported |
| Servicer advances outstanding | $0 |
SHOPPES AT WESTGATE
| Property | SHOPPES AT WESTGATE |
| Address | 2000-2042 CHILI AVENUE; Rochester, NY 14624 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 62,042 |
| Year built | 2000 |
| Year last renovated | not yet reported |
| Original balance | $4.0M |
| Current balance | $4.0M (September 2026) |
| Share of deal balance | 0.5% |
| Interest rate at origination | 6.55% |
| Current interest rate | 6.55% |
| Origination date | 03-10-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-04-01 |
| Prepayment lockout end | 01-31-2030 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Largest tenants
The three largest tenants as reported in the latest asset-level record.
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $969,818 |
| Operating expenses | $523,148 |
| Net operating income | $446,670 |
| Net cash flow | $368,194 |
| DSCR (net cash flow) | 1.43 |
| DSCR (net operating income) | 1.73 |
| Occupancy | 91% |
| Servicer advances outstanding | $0 |
COEUR DALENE SELF STORAGE
| Property | COEUR DALENE SELF STORAGE |
| Address | 5850 NORTH ATLAS ROAD; Coeur D'Alene, ID 83815 |
| Property type | Self storage |
| Units, beds or keys | 498 |
| Net rentable square feet | 84,640 |
| Year built | 2004 |
| Year last renovated | not yet reported |
| Original balance | $3.1M |
| Current balance | $3.1M (September 2026) |
| Share of deal balance | 0.4% |
| Interest rate at origination | 6.38% |
| Current interest rate | 6.38% |
| Origination date | 01-31-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-02-01 |
| Prepayment lockout end | 03-31-2027 |
| Yield maintenance end | 08-31-2029 |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | KeyBank National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
Latest financials
| Financial period end (latest) | 12-31-2025 |
| Revenue | $802,500 |
| Operating expenses | $314,292 |
| Net operating income | $488,208 |
| Net cash flow | $478,674 |
| DSCR (net cash flow) | 2.37 |
| DSCR (net operating income) | 2.42 |
| Occupancy | 85% |
| Servicer advances outstanding | $0 |