← BMO 2023-5C1 Mortgage Trust (segment D01, CIK 1984246) · Loan annex · CMBS market
- Deal
- BMO 2023-5C1 Mortgage Trust (segment D01, CIK 1984246)
- Current balance
- $30.0M (August 2023)
- Share of deal
- 3.9%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2028-07-06
Property and terms
| Property | Back Bay Office |
| Address | 222 Berkeley Street and 500 Boylston Street; Boston, MA 02116 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 1,283,670 |
| Year built | 1987 |
| Year last renovated | 2022 |
| Original balance | $30.0M |
| Current balance | $30.0M (August 2023) |
| Share of deal balance | 3.9% |
| Interest rate at origination | 6.30% |
| Current interest rate | 6.30% |
| Origination date | 06-07-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-07-06 |
| Prepayment lockout end | 09-05-2025 |
| Yield maintenance end | 01-05-2028 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | New York Life Insurance Company; Teachers Insurance and Annuity Association of America; Deutsche Bank AG; Wells Fargo Bank; Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $1.41B | 10-19-2022 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Wayfair | 356,312 | 12-31-2031 |
| DraftKings Inc. | 125,104 | 03-31-2029 |
| Summit Partners | 78,587 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2023 | $30.0M | Current | 6.30% | 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: BANK5 2023-5YR2; BANK5 2023-5YR3; Barclays Commercial Mortgage Securities LLC (segment D02, CIK 1541480); BBCMS Mortgage Trust 2023-C21; Benchmark 2023-B39 Mortgage Trust; Benchmark 2023-V3 Mortgage Trust; BMO 2023-C6 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.