← BBCMS Mortgage Trust 2025-C39 · Loan annex · CMBS market
- Deal
- BBCMS Mortgage Trust 2025-C39
- Current balance
- $43.5M (September 2026)
- Share of deal
- 5.4%
- Status
- Current
- DSCR (latest)
- 1.66
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2035-12-06
Property and terms
| Property | Sonwil Distribution Center |
| Address | 283 Ship Canal Parkway; Buffalo, NY 14218 |
| Property type | Warehouse |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 323,260 |
| Year built | 2022 |
| Year last renovated | not yet reported |
| Original balance | $43.5M |
| Current balance | $43.5M (September 2026) |
| Share of deal balance | 5.4% |
| Interest rate at origination | 6.44% |
| Current interest rate | 6.44% |
| Origination date | 11-24-2025 |
| Original term | 120 months |
| Amortization term | 300 months |
| Interest-only period | 36 months |
| Scheduled maturity | 2035-12-06 |
| Prepayment lockout end | 08-05-2035 |
| Yield maintenance end | not yet reported |
| Servicer | Midland Loan Service |
| Loan servicer | not yet reported |
| Originator | Starwood Mortgage Capital LLC |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $76.5M | 11-06-2025 | MAI |
| Most recent reported | $76.5M | 2025-11-06 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Sonwil Distribution | 323,260 | 11-23-2040 |
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 | $43.5M | Matured balloon, performing | 6.44% | 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 |
| January 2026 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 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 | $43.5M | Current | 6.44% | 1.66 | 1.67 | 100% | $0 | 03-31-2026 | $1.3M | $66,549 | $1.2M | $1.2M |
| August 2026 | $43.5M | Current | 6.44% | 1.66 | 1.67 | 100% | $0 | 03-31-2026 | $1.3M | $66,549 | $1.2M | $1.2M |
| September 2026 | $43.5M | Current | 6.44% | 1.66 | 1.67 | 100% | $0 | 03-31-2026 | $1.3M | $66,549 | $1.2M | $1.2M |
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.