← Benchmark 2025-V13 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2025-V13 Mortgage Trust
- Current balance
- $47.5M (September 2026)
- Share of deal
- 6.2%
- Status
- Current
- DSCR (latest)
- 1.90
- Occupancy (latest)
- 93%
- Scheduled maturity
- 2029-11-06
Property and terms
| Property | Queens Center |
| Address | 90-15 Queens Boulevard; Elmhurst, NY 11373 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 967,467 |
| Year built | 1973 |
| Year last renovated | 2004 |
| Original balance | $47.5M |
| Current balance | $47.5M (September 2026) |
| Share of deal balance | 6.2% |
| Interest rate at origination | 5.37% |
| Current interest rate | 5.37% |
| Origination date | 10-28-2024 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2029-11-06 |
| Prepayment lockout end | 03-05-2027 |
| Yield maintenance end | 05-05-2029 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | German American Capital Corporation, Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.06B | 09-19-2024 | MAI |
| Most recent reported | $1.06B | 2024-09-19 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Primark | 54,237 | 01-31-2035 |
| ZARA | 36,463 | 11-30-2033 |
| H&M | 19,694 | 01-31-2035 |
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 2025 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 2025 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 1.76 | 1.80 | 92% | $0 | 09-30-2025 | $103.1M | $51.7M | $51.5M | $50.4M |
| February 2026 | $47.5M | Current | 5.37% | 1.76 | 1.80 | 92% | $0 | 09-30-2025 | $103.1M | $51.7M | $51.5M | $50.4M |
| March 2026 | $47.5M | Current | 5.37% | 1.76 | 1.80 | 92% | $0 | 09-30-2025 | $103.1M | $51.7M | $51.5M | $50.4M |
| April 2026 | $47.5M | Current | 5.37% | 1.76 | 1.80 | 90% | $0 | 09-30-2025 | $103.1M | $51.7M | $51.5M | $50.4M |
| May 2026 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 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 | $47.5M | Current | 5.37% | 1.90 | 1.94 | 98% | $0 | 03-31-2026 | $27.2M | $13.3M | $13.9M | $13.6M |
| August 2026 | $47.5M | Current | 5.37% | 1.90 | 1.94 | 98% | $0 | 03-31-2026 | $27.2M | $13.3M | $13.9M | $13.6M |
| September 2026 | $47.5M | Current | 5.37% | 1.90 | 1.94 | 93% | $0 | 03-31-2026 | $27.2M | $13.3M | $13.9M | $13.6M |
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 2024-5YR12; BBCMS Mortgage Trust 2024-5C31; Benchmark 2024-V12 Mortgage Trust; BMO 2024-5C8 Mortgage Trust; BMO 2025-5C9 Mortgage Trust; Wells Fargo Commercial Mortgage Trust 2024-5C2; Wells Fargo Commercial Mortgage Trust 2025-5C3.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.