← BANK5 2024-5YR5 · Loan annex · CMBS market
- Deal
- BANK5 2024-5YR5
- Current balance
- $24.2M (September 2026)
- Share of deal
- 5.2%
- Status
- Current
- DSCR (latest)
- 1.80
- Occupancy (latest)
- 99%
- Scheduled maturity
- 2029-01-01
Property and terms
| Property | APPLING FARMS CORPORATE PARK |
| Address | 6916, 6935, 6936, 6949, 6972, 6991 AND 7005 APPLING FARMS PARKWAY; Memphis, TN 38133 |
| Property type | Industrial |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 297,292 |
| Year built | 2003 |
| Year last renovated | not yet reported |
| Original balance | $24.2M |
| Current balance | $24.2M (September 2026) |
| Share of deal balance | 5.2% |
| Interest rate at origination | 7.05% |
| Current interest rate | 7.05% |
| Origination date | 12-18-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2029-01-01 |
| Prepayment lockout end | 12-31-2025 |
| Yield maintenance end | 06-30-2028 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | MSBNA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $43.4M | 11-06-2023 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| uLabs Systems LLC | 50,000 | 08-31-2027 |
| ACADIAN AMBULANCE SERVICE Inc | 25,054 | 12-31-2027 |
| Trane Inc | 25,041 | 01-31-2029 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2024 | $24.2M | Current | 7.05% | 1.48 | 1.48 | 97% | $0 | 09-30-2023 | $3.6M | $1.0M | $2.6M | $2.6M |
| March 2024 | $24.2M | Current | 7.05% | 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 2024 | $24.2M | Current | 7.05% | 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 2024 | $24.2M | Current | 7.05% | 1.39 | 1.55 | 95% | $0 | 03-31-2024 | $935,421 | $267,679 | $667,742 | $600,374 |
| June 2024 | $24.2M | Current | 7.05% | 1.39 | 1.55 | 95% | $0 | 03-31-2024 | $935,421 | $267,679 | $667,742 | $600,374 |
| July 2024 | $24.2M | Current | 7.05% | 1.39 | 1.55 | 95% | $0 | 03-31-2024 | $935,421 | $267,679 | $667,742 | $600,374 |
| August 2024 | $24.2M | Current | 7.05% | 1.55 | 1.71 | 96% | $0 | 06-30-2024 | $2.0M | $523,017 | $1.5M | $1.3M |
| September 2024 | $24.2M | Current | 7.05% | 1.55 | 1.71 | 96% | $0 | 06-30-2024 | $2.0M | $523,017 | $1.5M | $1.3M |
| October 2024 | $24.2M | Current | 7.05% | 1.55 | 1.71 | 96% | $0 | 06-30-2024 | $2.0M | $523,017 | $1.5M | $1.3M |
| November 2024 | $36.5M | Current | 6.30% | 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 |
| December 2024 | $24.2M | Current | 7.05% | 1.52 | 1.68 | 96% | $0 | 09-30-2024 | $3.0M | $782,939 | $2.2M | $2.0M |
| January 2025 | $24.2M | Current | 7.05% | 1.52 | 1.68 | 96% | $0 | 09-30-2024 | $3.0M | $782,939 | $2.2M | $2.0M |
| February 2025 | $24.2M | Current | 7.05% | 1.47 | 1.63 | 95% | $0 | 12-31-2024 | $3.9M | $1.1M | $2.8M | $2.6M |
| March 2025 | $24.2M | Current | 7.05% | 1.47 | 1.63 | 95% | $0 | 12-31-2024 | $3.9M | $1.1M | $2.8M | $2.6M |
| April 2025 | $24.2M | Current | 7.05% | 1.47 | 1.63 | 95% | $0 | 12-31-2024 | $3.9M | $1.1M | $2.8M | $2.6M |
| May 2025 | $24.2M | Current | 7.05% | 1.78 | 1.94 | 95% | $0 | 03-31-2025 | $1.1M | $274,643 | $826,222 | $758,854 |
| June 2025 | $24.2M | Current | 7.05% | 1.78 | 1.94 | 95% | $0 | 03-31-2025 | $1.1M | $274,643 | $826,222 | $758,854 |
| July 2025 | $24.2M | Current | 7.05% | 1.78 | 1.94 | 95% | $0 | 03-31-2025 | $1.1M | $274,643 | $826,222 | $758,854 |
| August 2025 | $24.2M | Current | 7.05% | 1.62 | 1.77 | 95% | $0 | 06-30-2025 | $2.1M | $567,237 | $1.5M | $1.4M |
| September 2025 | $24.2M | Current | 7.05% | 1.62 | 1.77 | 95% | $0 | 06-30-2025 | $2.1M | $567,237 | $1.5M | $1.4M |
| October 2025 | $24.2M | Current | 7.05% | 1.62 | 1.77 | 95% | $0 | 06-30-2025 | $2.1M | $567,237 | $1.5M | $1.4M |
| November 2025 | $24.2M | Current | 7.05% | 1.59 | 1.75 | 95% | $0 | 09-30-2025 | $3.1M | $818,008 | $2.3M | $2.1M |
| December 2025 | $24.2M | Current | 7.05% | 1.59 | 1.75 | 95% | $0 | 09-30-2025 | $3.1M | $818,008 | $2.3M | $2.1M |
| January 2026 | $24.2M | Current | 7.05% | 1.59 | 1.75 | 95% | $0 | 09-30-2025 | $3.1M | $818,008 | $2.3M | $2.1M |
| February 2026 | $24.2M | Current | 7.05% | 1.59 | 1.75 | 95% | $0 | 09-30-2025 | $3.1M | $818,008 | $2.3M | $2.1M |
| March 2026 | $24.2M | Current | 7.05% | 1.51 | 1.67 | 96% | $0 | 12-31-2025 | $4.1M | $1.2M | $2.9M | $2.6M |
| April 2026 | $24.2M | Current | 7.05% | 1.51 | 1.67 | 96% | $0 | 12-31-2025 | $4.1M | $1.2M | $2.9M | $2.6M |
| May 2026 | $24.2M | Current | 7.05% | 2.04 | 2.20 | 99% | $0 | 03-31-2026 | $1.2M | $305,185 | $938,274 | $870,906 |
| June 2026 | $24.2M | Current | 7.05% | 2.04 | 2.20 | 99% | $0 | 03-31-2026 | $1.2M | $305,185 | $938,274 | $870,906 |
| July 2026 | $24.2M | Current | 7.05% | 2.04 | 2.20 | 99% | $0 | 03-31-2026 | $1.2M | $305,185 | $938,274 | $870,906 |
| August 2026 | $24.2M | Current | 7.05% | 1.80 | 1.95 | 99% | $0 | 06-30-2026 | $2.3M | $613,250 | $1.7M | $1.5M |
| September 2026 | $24.2M | Current | 7.05% | 1.80 | 1.95 | 99% | $0 | 06-30-2026 | $2.3M | $613,250 | $1.7M | $1.5M |
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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.