← BANK5 2024-5YR12 · Loan annex · CMBS market
- Deal
- BANK5 2024-5YR12
- Current balance
- $50.0M (September 2026)
- Share of deal
- 5.7%
- Status
- Current
- DSCR (latest)
- 1.25
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2029-11-06
Property and terms
| Property | GATEWAY CENTER NORTH |
| Address | 501 GATEWAY DRIVE; Brooklyn, NY 11217 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 601,212 |
| Year built | 2014 |
| Year last renovated | not yet reported |
| Original balance | $65.0M |
| Current balance | $50.0M (September 2026) |
| Share of deal balance | 5.7% |
| Interest rate at origination | 6.83% |
| Current interest rate | 6.83% |
| Origination date | 10-22-2024 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2029-11-06 |
| Prepayment lockout end | 11-05-2026 |
| Yield maintenance end | 05-05-2029 |
| Servicer | Wells Fargo Bank, NA |
| Loan servicer | not yet reported |
| Originator | Bank of America, National Association |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $443.0M | 09-06-2024 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| JC Penney Company | 122,473 | 08-31-2034 |
| Shop Rite | 89,774 | 10-31-2034 |
| Burlington Coat Factory | 73,864 | 02-28-2030 |
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 2024 | $65.0M | Current | 6.83% | 1.23 | 1.23 | 96% | $0 | 08-31-2024 | $35.5M | $9.9M | $25.5M | $25.5M |
| January 2025 | $50.0M | Current | 6.83% | 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 2025 | $50.0M | Current | 6.83% | 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 2025 | $50.0M | Current | 6.83% | 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 2025 | $50.0M | Current | 6.83% | 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 2025 | $50.0M | Current | 6.83% | 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 2025 | $50.0M | Current | 6.83% | 1.12 | 1.15 | 100% | $0 | 03-31-2025 | $8.7M | $2.8M | $5.9M | $5.7M |
| July 2025 | $50.0M | Current | 6.83% | 1.12 | 1.15 | 100% | $0 | 03-31-2025 | $8.7M | $2.8M | $5.9M | $5.7M |
| August 2025 | $50.0M | Current | 6.83% | 1.12 | 1.15 | 100% | $0 | 03-31-2025 | $8.7M | $2.8M | $5.9M | $5.7M |
| September 2025 | $50.0M | Current | 6.83% | 1.09 | 1.12 | 100% | $0 | 06-30-2025 | $17.2M | $5.6M | $11.6M | $11.3M |
| October 2025 | $50.0M | Matured balloon, non-performing | 6.83% | 1.09 | 1.12 | 100% | $0 | 06-30-2025 | $17.2M | $5.6M | $11.6M | $11.3M |
| November 2025 | $50.0M | Current | 6.83% | 1.09 | 1.12 | 100% | $0 | 06-30-2025 | $17.2M | $5.6M | $11.6M | $11.3M |
| December 2025 | $50.0M | Current | 6.83% | 1.10 | 1.12 | 100% | $0 | 09-30-2025 | $25.7M | $8.2M | $17.5M | $17.1M |
| January 2026 | $50.0M | Current | 6.83% | 1.10 | 1.12 | 100% | $0 | 09-30-2025 | $25.7M | $8.2M | $17.5M | $17.1M |
| February 2026 | $50.0M | Current | 6.83% | 1.10 | 1.12 | 100% | $0 | 09-30-2025 | $25.7M | $8.2M | $17.5M | $17.1M |
| March 2026 | $50.0M | Current | 6.83% | 1.11 | 1.13 | 100% | $0 | 12-31-2025 | $34.7M | $11.2M | $23.5M | $23.0M |
| April 2026 | $50.0M | Current | 6.83% | 1.11 | 1.13 | 100% | $0 | 12-31-2025 | $34.7M | $11.2M | $23.5M | $23.0M |
| May 2026 | $50.0M | Current | 6.83% | 1.11 | 1.13 | 100% | $0 | 12-31-2025 | $34.7M | $11.2M | $23.5M | $23.0M |
| June 2026 | $50.0M | Current | 6.83% | 1.28 | 1.30 | 100% | $0 | 03-31-2026 | $9.8M | $3.2M | $6.7M | $6.5M |
| July 2026 | $50.0M | Current | 6.83% | 1.28 | 1.30 | 100% | $0 | 03-31-2026 | $9.8M | $3.2M | $6.7M | $6.5M |
| August 2026 | $50.0M | Current | 6.83% | 1.28 | 1.30 | 100% | $0 | 03-31-2026 | $9.8M | $3.2M | $6.7M | $6.5M |
| September 2026 | $50.0M | Current | 6.83% | 1.25 | 1.28 | 100% | $0 | 06-30-2026 | $18.9M | $5.6M | $13.3M | $13.0M |
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: BANK5 2024-5YR11; BANK5 2025-5YR13; BANK5 2025-5YR14; Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.