← BANK5 Trust 2024-5YR6 · Loan annex · CMBS market
- Deal
- BANK5 Trust 2024-5YR6
- Current balance
- $11.1M (September 2026)
- Share of deal
- 1.2%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- 0.32
- Occupancy (latest)
- 61%
- Scheduled maturity
- 2029-04-01
Property and terms
| Property | TAHOMA VISTA |
| Address | 1410-1418 EAST 72ND STREET; Tacoma, WA 98404 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 107,293 |
| Year built | 1968 |
| Year last renovated | not yet reported |
| Original balance | $11.1M |
| Current balance | $11.1M (September 2026) |
| Share of deal balance | 1.2% |
| Interest rate at origination | 7.45% |
| Current interest rate | 7.45% |
| Origination date | 04-01-2024 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2029-04-01 |
| Prepayment lockout end | 03-31-2026 |
| Yield maintenance end | 12-31-2028 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | Morgan Stanley Bank, N.A. |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $17.6M | 02-22-2024 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Urban Air | 42,088 | 04-30-2032 |
| GROCERY OUTLET | 22,709 | 05-31-2029 |
| BIG FOOT JAVA/BIG FOOT PROPERTIES XXII LLC | 670 | 02-01-2032 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2024 | $11.1M | Current | 7.45% | 1.19 | 1.19 | not yet reported | $0 | 12-31-2023 | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2024 | $11.1M | Current | 7.45% | 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 2024 | $11.1M | Current | 7.45% | 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 |
| August 2024 | $11.1M | Current | 7.45% | 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 |
| September 2024 | $11.1M | Current | 7.45% | 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 |
| October 2024 | $11.1M | Current | 7.45% | 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 |
| November 2024 | $11.1M | Matured balloon, non-performing | 7.45% | not yet reported | not yet reported | not yet reported | $70,853 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2024 | $11.1M | 30-59 days delinquent | 7.45% | not yet reported | not yet reported | not yet reported | $68,568 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2025 | $11.1M | 60-89 days delinquent | 7.45% | not yet reported | not yet reported | not yet reported | $139,421 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2025 | $11.1M | 90+ days delinquent | 7.45% | 0.40 | 0.53 | 100% | $210,274 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| March 2025 | $11.1M | Matured balloon, non-performing | 7.45% | 0.40 | 0.53 | 100% | $63,996 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| April 2025 | $11.1M | Matured balloon, non-performing | 7.45% | 0.40 | 0.53 | 100% | $70,853 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| May 2025 | $11.1M | Current | 7.45% | 0.40 | 0.53 | 100% | $0 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| June 2025 | $11.1M | Current | 7.45% | 0.40 | 0.53 | 100% | $0 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| July 2025 | $11.1M | Current | 7.45% | 0.40 | 0.53 | 100% | $0 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| August 2025 | $11.1M | Current | 7.45% | 0.40 | 0.53 | 100% | $0 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| September 2025 | $11.1M | Current | 7.45% | 0.40 | 0.53 | 100% | $0 | 09-30-2024 | $852,828 | $410,655 | $442,173 | $329,935 |
| October 2025 | $11.1M | Current | 7.45% | 0.45 | 0.59 | not yet reported | $0 | 06-30-2025 | $477,653 | $232,808 | $244,845 | $188,726 |
| November 2025 | $11.1M | Current | 7.45% | 0.45 | 0.59 | not yet reported | $0 | 06-30-2025 | $477,653 | $232,808 | $244,845 | $188,726 |
| December 2025 | $11.1M | Current | 7.45% | 0.45 | 0.59 | not yet reported | $0 | 06-30-2025 | $477,653 | $232,808 | $244,845 | $188,726 |
| January 2026 | $11.1M | Current | 7.45% | 0.45 | 0.59 | not yet reported | $0 | 06-30-2025 | $477,653 | $232,808 | $244,845 | $188,726 |
| February 2026 | $11.1M | Current | 7.45% | 0.45 | 0.59 | not yet reported | $0 | 06-30-2025 | $477,653 | $232,808 | $244,845 | $188,726 |
| March 2026 | $11.1M | Current | 7.45% | 0.32 | 0.45 | 61% | $0 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| April 2026 | $11.1M | Current | 7.45% | 0.32 | 0.45 | 61% | $0 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| May 2026 | $11.1M | Current | 7.45% | 0.32 | 0.45 | 61% | $0 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| June 2026 | $11.1M | Current | 7.45% | 0.32 | 0.45 | 61% | $0 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| July 2026 | $11.1M | Current | 7.45% | 0.32 | 0.45 | 61% | $0 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| August 2026 | $11.1M | Matured balloon, non-performing | 7.45% | 0.32 | 0.45 | 61% | $70,853 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
| September 2026 | $11.1M | Matured balloon, non-performing | 7.45% | 0.32 | 0.45 | 61% | $70,853 | 12-31-2025 | $944,179 | $564,949 | $379,230 | $266,992 |
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.
Status timeline
| Date | Event |
|---|---|
| December 2024 | First reported 30 or more days delinquent |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.