← BMO 2023-5C2 Mortgage Trust · Loan annex · CMBS market
- Deal
- BMO 2023-5C2 Mortgage Trust
- Current balance
- $45.0M (November 2023)
- Share of deal
- not yet reported
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2028-11-06
Property and terms
| Property | Lake Merritt Plaza |
| Address | 1999 Harrison Street; Oakland, CA 94612 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 489,777 |
| Year built | 1985 |
| Year last renovated | 2015 |
| Original balance | $45.0M |
| Current balance | $45.0M (November 2023) |
| Share of deal balance | not yet reported |
| Interest rate at origination | 8.01% |
| Current interest rate | 8.01% |
| Origination date | 10-12-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-11-06 |
| Prepayment lockout end | 05-05-2028 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | Goldman Sachs Bank USA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $242.5M | 07-11-2023 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| LaunchDarkly | 33,710 | 03-31-2026 |
| Dentons US LLP | 28,396 | 10-31-2024 |
| Premier Workspaces | 20,977 | 11-30-2024 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2023 | $45.0M | Current | 8.01% | 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: Benchmark 2023-V4 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.