← Bank 2025-BNK51 · Loan annex · CMBS market
- Deal
- Bank 2025-BNK51
- Current balance
- $84.0M (September 2026)
- Share of deal
- 8.4%
- Status
- Current
- DSCR (latest)
- 3.35
- Occupancy (latest)
- 85%
- Scheduled maturity
- 2035-12-01
Property and terms
| Property | Ellenton Premium Outlets |
| Address | 5103-5135 Factory Shops Boulevard; Ellenton, FL 34222 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 477,984 |
| Year built | 1991 |
| Year last renovated | 2015 |
| Original balance | $84.0M |
| Current balance | $84.0M (September 2026) |
| Share of deal balance | 8.4% |
| Interest rate at origination | 6.21% |
| Current interest rate | 6.21% |
| Origination date | 11-18-2025 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2035-12-01 |
| Prepayment lockout end | 05-31-2035 |
| Yield maintenance end | not yet reported |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | BANA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $198.0M | 08-21-2025 | MAI |
| Most recent reported | $198.0M | 2025-08-21 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Lee Wrangler Clearance Center | 23,273 | 01-31-2029 |
| Saks Fifth Avenue Off 5th | 19,804 | 05-15-2026 |
| Nike Factory Store | 15,267 | 01-31-2032 |
The three largest tenants as reported in the latest asset-level record.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2025 | $84.0M | Current | 6.21% | 2.61 | 2.61 | 84% | $0 | 09-30-2025 | $25.3M | $5.6M | $19.7M | $19.7M |
| January 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $84.0M | Current | 6.21% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $84.0M | Current | 6.21% | 3.35 | 3.53 | 85% | $0 | 03-31-2026 | $24.1M | $8.6M | $15.6M | $14.8M |
| August 2026 | $84.0M | Current | 6.21% | 3.35 | 3.53 | 85% | $0 | 03-31-2026 | $24.1M | $8.6M | $15.6M | $14.8M |
| September 2026 | $84.0M | Current | 6.21% | 3.35 | 3.53 | 85% | $0 | 03-31-2026 | $24.1M | $8.6M | $15.6M | $14.8M |
Revenue, expenses, net operating income (NOI) and net cash flow (NCF) are the most recent financials reported as of each month, for the financial period ending on the date shown. DSCR is debt service coverage on the net cash flow and net operating income bases as reported.
Also filed in other trusts
Loans are sometimes split across trusts (pari passu), and each trust files the loan at its whole-loan amount. A loan with the same property name and origination date is filed in: BMO 2026-C14 Mortgage Trust; Wells Fargo Commercial Mortgage Trust 2026-C66.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.