← Benchmark 2025-V18 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2025-V18 Mortgage Trust
- Current balance
- $50.0M (September 2026)
- Share of deal
- 3.8%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2030-10-06
Property and terms
| Property | ROYAL LEDGES APARTMENTS |
| Address | 4676 ALBANY POST ROAD; Hyde Park, NY 12538 |
| Property type | Multifamily |
| Units, beds or keys | 272 |
| Net rentable square feet | not yet reported |
| Year built | 1974 |
| Year last renovated | 2018 |
| Original balance | $50.0M |
| Current balance | $50.0M (September 2026) |
| Share of deal balance | 3.8% |
| Interest rate at origination | 6.41% |
| Current interest rate | 6.41% |
| Origination date | 09-30-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-10-06 |
| Prepayment lockout end | 11-05-2027 |
| Yield maintenance end | 04-05-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | DBR Investments Co. Limited |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $73.6M | 07-24-2025 | MAI |
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 2025 | $50.0M | Matured balloon, performing | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Matured balloon, non-performing | 6.41% | not yet reported | not yet reported | not yet reported | $267,158 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2026 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 | $50.0M | Current | 6.41% | 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 2026 | $50.0M | Current | 6.41% | 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 2026 | $50.0M | Current | 6.41% | 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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.