← BMO 2022-C3 Mortgage Trust · Loan annex · CMBS market
- Deal
- BMO 2022-C3 Mortgage Trust
- Current balance
- $27.5M (September 2026)
- Share of deal
- 3.8%
- Status
- 90+ days delinquent
- DSCR (latest)
- 1.79
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2032-08-06
Property and terms
| Property | Saks Fulfillment Center |
| Address | 250 Highland Park Boulevard; Wilkes Barre, PA 18702 |
| Property type | Warehouse |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 822,771 |
| Year built | 1990 |
| Year last renovated | not yet reported |
| Original balance | $27.5M |
| Current balance | $27.5M (September 2026) |
| Share of deal balance | 3.8% |
| Interest rate at origination | 6.17% |
| Current interest rate | 6.17% |
| Origination date | 08-02-2022 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2032-08-06 |
| Prepayment lockout end | 05-05-2032 |
| Yield maintenance end | not yet reported |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | Bank of Montreal |
| Current status | 90+ days delinquent |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $112.9M | 08-01-2022 | MAI |
| Most recent reported | $112.9M | 2022-08-01 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Saks & Company LLC | 822,771 | 08-31-2047 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 2022 | $27.5M | Current | 6.17% | 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 2022 | $27.5M | Current | 6.17% | 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 2022 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 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 2023 | $27.5M | Current | 6.17% | 1.75 | 1.75 | 100% | $0 | 03-31-2023 | $1.6M | $7,322 | $1.6M | $1.6M |
| July 2023 | $27.5M | Current | 6.17% | 1.75 | 1.75 | 100% | $0 | 03-31-2023 | $1.6M | $7,322 | $1.6M | $1.6M |
| August 2023 | $27.5M | Current | 6.17% | 1.75 | 1.75 | not yet reported | $0 | 06-30-2023 | $6.6M | $32,682 | $6.6M | $6.6M |
| September 2023 | $27.5M | Current | 6.17% | 1.75 | 1.75 | not yet reported | $0 | 06-30-2023 | $6.6M | $32,682 | $6.6M | $6.6M |
| October 2023 | $27.5M | Current | 6.17% | 1.75 | 1.75 | not yet reported | $0 | 06-30-2023 | $6.6M | $32,682 | $6.6M | $6.6M |
| November 2023 | $27.5M | Current | 6.17% | 1.76 | 1.76 | 100% | $0 | 09-30-2023 | $6.6M | $21,788 | $6.6M | $6.6M |
| December 2023 | $27.5M | Current | 6.17% | 1.76 | 1.76 | 100% | $0 | 09-30-2023 | $6.6M | $21,788 | $6.6M | $6.6M |
| January 2024 | $27.5M | Current | 6.17% | 1.76 | 1.76 | 100% | $0 | 09-30-2023 | $6.6M | $21,788 | $6.6M | $6.6M |
| February 2024 | $27.5M | Current | 6.17% | 1.76 | 1.76 | 100% | $0 | 09-30-2023 | $6.6M | $21,788 | $6.6M | $6.6M |
| March 2024 | $27.5M | Current | 6.17% | 1.76 | 1.76 | 100% | $0 | 09-30-2023 | $6.6M | $21,788 | $6.6M | $6.6M |
| April 2024 | $27.5M | Current | 6.17% | 1.77 | 1.77 | 100% | $0 | 12-31-2023 | $6.7M | $16,341 | $6.6M | $6.6M |
| May 2024 | $27.5M | Current | 6.17% | 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 2024 | $27.5M | Current | 6.17% | 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 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| August 2024 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| September 2024 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| October 2024 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| November 2024 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| December 2024 | $27.5M | Current | 6.17% | 1.80 | 1.80 | 100% | $0 | 03-31-2024 | $1.7M | not yet reported | $1.7M | $1.7M |
| January 2025 | $27.5M | Current | 6.17% | 1.81 | 1.81 | 100% | $0 | 09-30-2024 | $6.8M | $16,667 | $6.8M | $6.8M |
| February 2025 | $27.5M | Current | 6.17% | 1.81 | 1.81 | 100% | $0 | 09-30-2024 | $6.8M | $16,667 | $6.8M | $6.8M |
| March 2025 | $27.5M | Current | 6.17% | 1.81 | 1.81 | 100% | $0 | 09-30-2024 | $6.8M | $16,667 | $6.8M | $6.8M |
| April 2025 | $27.5M | Current | 6.17% | 1.82 | 1.82 | 100% | $0 | 12-31-2024 | $6.8M | $12,500 | $6.8M | $6.8M |
| May 2025 | $27.5M | Current | 6.17% | 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 | $27.5M | Current | 6.17% | 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 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 03-31-2025 | $1.7M | $1,050 | $1.7M | $1.7M |
| August 2025 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 06-30-2025 | $6.9M | $16,750 | $6.9M | $6.9M |
| September 2025 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 06-30-2025 | $6.9M | $16,750 | $6.9M | $6.9M |
| October 2025 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 06-30-2025 | $6.9M | $16,750 | $6.9M | $6.9M |
| November 2025 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 09-30-2025 | $7.0M | $18,708 | $7.0M | $7.0M |
| December 2025 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 09-30-2025 | $7.0M | $18,708 | $7.0M | $7.0M |
| January 2026 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 09-30-2025 | $7.0M | $18,708 | $7.0M | $7.0M |
| February 2026 | $27.5M | Current | 6.17% | 1.85 | 1.85 | 100% | $0 | 09-30-2025 | $7.0M | $18,708 | $7.0M | $7.0M |
| March 2026 | $27.5M | Current | 6.17% | 1.86 | 1.86 | 100% | $0 | 12-31-2025 | $7.0M | $22,501 | $7.0M | $7.0M |
| April 2026 | $27.5M | 30-59 days delinquent | 6.17% | 1.86 | 1.86 | 100% | $241,989 | 12-31-2025 | $7.0M | $22,501 | $7.0M | $7.0M |
| May 2026 | $27.5M | 30-59 days delinquent | 6.17% | 1.79 | 1.79 | 100% | $287,388 | 03-31-2026 | $1.8M | $105,752 | $1.7M | $1.7M |
| June 2026 | $27.5M | 60-89 days delinquent | 6.17% | 1.79 | 1.79 | 100% | $433,438 | 03-31-2026 | $1.8M | $105,752 | $1.7M | $1.7M |
| July 2026 | $27.5M | 90+ days delinquent | 6.17% | 1.79 | 1.79 | 100% | $574,777 | 03-31-2026 | $1.8M | $105,752 | $1.7M | $1.7M |
| August 2026 | $27.5M | 90+ days delinquent | 6.17% | 1.79 | 1.79 | 100% | $720,827 | 03-31-2026 | $1.8M | $105,752 | $1.7M | $1.7M |
| September 2026 | $27.5M | 90+ days delinquent | 6.17% | 1.79 | 1.79 | 100% | $866,876 | 03-31-2026 | $1.8M | $105,752 | $1.7M | $1.7M |
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 |
|---|---|
| April 2026 | First reported 30 or more days delinquent |
| 2026-04-14 | Transferred to the special servicer |
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: BBCMS Mortgage Trust 2022-C17; BBCMS Mortgage Trust 2022-C17; BBCMS Mortgage Trust 2022-C17; BBCMS Mortgage Trust 2022-C18.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.