← BBCMS Mortgage Trust 2024-5C29 · Loan annex · CMBS market
- Deal
- BBCMS Mortgage Trust 2024-5C29
- Current balance
- $70.0M (September 2024)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2032-08-06
Property and terms
| Property | 277 Park Avenue |
| Address | 277 Park Avenue; New York, NY 10172 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 1,881,010 |
| Year built | 1963 |
| Year last renovated | 2023 |
| Original balance | $70.0M |
| Current balance | $70.0M (September 2024) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 7.01% |
| Current interest rate | 7.01% |
| Origination date | 08-06-2024 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2032-08-06 |
| Prepayment lockout end | 05-05-2029 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | German American Capital Corporation |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.75B | 05-15-2024 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| JP Morgan Chase | 898,121 | 03-31-2026 |
| Sumitomo Mitsui Banking Corporation | 315,671 | 06-30-2037 |
| M&T Bank | 92,658 | 11-30-2033 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 2024 | $70.0M | Current | 7.01% | 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 |
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 2024-5C7 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.