← BMO 2023-C5 Mortgage Trust · Loan annex · CMBS market
- Deal
- BMO 2023-C5 Mortgage Trust
- Current balance
- $23.2M (September 2026)
- Share of deal
- 3.6%
- Status
- Current
- DSCR (latest)
- 2.59
- Occupancy (latest)
- 100%
- Scheduled maturity
- 2033-05-06
Property and terms
| Property | Burger King #04324 - Gulf Shores, AL (and 98 more properties) |
| Address | 1501 Gulf Shores Pkwy; 910 S McKenzie St; 1033 W Tunnel Blvd; 3863 W Park Ave; 7775 Moffett Rd; 2924 St Stephens Rd; 14157 Highway 90; 310 Saraland Blvd N; 1840 Lapalco Blvd; 3121 Halls Ferry Rd; 5400 W Aloha Dr; 421 Highway 61 N; 21890 AL Highway 59 S; 6001 N. East Antioch Rd.; 100 Thomas Rd; 31706 Louisiana Highway 16; 3200 Spring Hill Ave; 5131 Main St; 500 Westbank Expy; 27931 Walker South Rd; 19755 Greeno Rd; 3875 Airport Blvd; 937 Highway 90 E; 319 Beacon St; 310 Beach Blvd E; 3301 Monroe Hwy; 4383 La Highway 1 S; 1710 Martin Luther King Junior Dr.; 185 Gause Blvd; 1409 N Trenton St; 1007 Broadway St; 13392 Perdido Key Dr; 1419 Center St; 2515 Stillman Blvd; 1100 Parkview Dr; 1470 Canton Mart Rd; 5119 Jones Creek Rd; 46020 N Puma Dr; 5380 Highway 90W; 3530 Harding Blvd; 13455 Highway 73; 215 East Young; 34355 US-43; 2300 W Laurel Ave; 1021 Church Point Hwy; 120 Brownswitch Rd; 7701 Airport Blvd; 2130 Highway 15 N; 801 Sampson St; 605 N Highway 190; 1212 E Main St; 4811 Roe Boulevard; 141 Northshore Blvd; 14280 Greenwell Springs Rd; 2017 Ruth St; 2100 N Frontage Rd; 4120 Highway 90; 3210 W Michigan Ave; 29295 US Highway 98; 695 Highway 165 S; 340 West 72nd St.; 2004 East Santa Fe; 1000 West Esplanade Avenue Suite C; 4825 8th St; 901 E Fourth St; 3946 Government Blvd; 1211 N Martin Luther King Hwy; 1115 Carter Street; 6880 Johnson Dr.; 404 N Airline Hwy; 4900 Skyland Blvd E; 3380 Gulf Breeze Parkway; 4951 Florida Blvd; 6403 Cottage Hill Rd; 279 Sam Houston Jones Pkwy; 3100 Highland Rd; 8101 Airline Dr; 3004 Airport Blvd; 1637 Martin Luther King Blvd; 639 Highway 28 W; 198 S Jackson St; 1111 Lowe-Grout Rd; 6244 Airline Hwy; 7004 Siegen Ln; 1601 McFarland Blvd N; 5150 Forsythe Bypass; 2919 South Lewis Street; 3441 Main St.; 3820 McFarland Blvd; 1005 U.S. Highway 190 By-Pass; 1829 Main St; 1807 West St; 1700 Saint Charles Ave; 3114 Pontchartrain Dr; 3705 S MacArthur Dr; 176 N University Ave; 312 Jefferson Blvd; 2256 Ambassador Caffery Pkwy; 1500 Johnston St; Gulf Shores, AL (and 98 more) 36542 |
| Property type | Retail |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2017", "2018", "2018", "2017", "2018", "2018", "2018", "2020", "2018", "2015", "2016", "2017", "2018", "2015", "2018", "2015", "2020", "2018", "2017", "2018", "2018", "2018", "2022", "2017", "2018", "2019", "2018", "2015", "2019", "2018", "2017", "2020", "2019", "2017", "2017", "2014", "2017", "2014", "2020", "2020", "2019", "2018", "2015", "2017", "2012", "2017", "2015", "2015", "2017", "2018", "2018", "2016", "2018", "2017", "2017", "2018", "2017", "2020", "2017", "2022"] |
| Original balance | $28.0M |
| Current balance | $23.2M (September 2026) |
| Share of deal balance | 3.6% |
| Interest rate at origination | 6.91% |
| Current interest rate | 6.91% |
| Origination date | 05-02-2023 |
| Original term | 120 months |
| Amortization term | 180 months |
| Interest-only period | not yet reported |
| Scheduled maturity | 2033-05-06 |
| Prepayment lockout end | 07-05-2025 |
| Yield maintenance end | 11-05-2032 |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | Citi Real Estate Funding Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $172.3M | not yet reported | MAI |
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI"] |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| GPS Hospitality Partners IV, LLC | not yet reported | ["06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034", "06-05-2034"] |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 2023 | $27.9M | Current | 6.91% | 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 2023 | $27.8M | Current | 6.91% | 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 2023 | $27.7M | Current | 6.91% | 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 2023 | $27.7M | Current | 6.91% | 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 2023 | $27.6M | Current | 6.91% | 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 2023 | $27.5M | Current | 6.91% | 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 2023 | $27.4M | Current | 6.91% | 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 2024 | $27.3M | Current | 6.91% | 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 2024 | $27.2M | Current | 6.91% | 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 2024 | $27.1M | Current | 6.91% | 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 2024 | $27.0M | Current | 6.91% | 1.77 | 1.77 | not yet reported | $0 | 12-31-2023 | $11.6M | $1.6M | $10.1M | $10.1M |
| May 2024 | $26.9M | Current | 6.91% | 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 | $26.8M | Current | 6.91% | 2.28 | 2.28 | not yet reported | $0 | 03-31-2024 | $3.7M | $442,749 | $3.2M | $3.2M |
| July 2024 | $26.7M | Current | 6.91% | 2.28 | 2.28 | not yet reported | $0 | 03-31-2024 | $3.7M | $442,749 | $3.2M | $3.2M |
| August 2024 | $26.4M | Current | 6.91% | 2.28 | 2.28 | not yet reported | $0 | 03-31-2024 | $3.7M | $442,749 | $3.2M | $3.2M |
| September 2024 | $26.3M | Current | 6.91% | 1.98 | 1.98 | 100% | $0 | 06-30-2024 | $12.9M | $1.6M | $11.3M | $11.3M |
| October 2024 | $26.2M | Current | 6.91% | 1.98 | 1.98 | 100% | $0 | 06-30-2024 | $12.9M | $1.6M | $11.3M | $11.3M |
| November 2024 | $26.1M | Current | 6.91% | 1.98 | 1.98 | 100% | $0 | 06-30-2024 | $12.9M | $1.6M | $11.3M | $11.3M |
| December 2024 | $26.0M | Current | 6.91% | 1.93 | 1.93 | 100% | $0 | 09-30-2024 | $12.6M | $1.7M | $11.0M | $11.0M |
| January 2025 | $25.9M | Current | 6.91% | 1.93 | 1.93 | 100% | $0 | 09-30-2024 | $12.6M | $1.7M | $11.0M | $11.0M |
| February 2025 | $25.8M | Current | 6.91% | 1.93 | 1.93 | 100% | $0 | 09-30-2024 | $12.6M | $1.7M | $11.0M | $11.0M |
| March 2025 | $25.7M | Current | 6.91% | 1.93 | 1.93 | 100% | $0 | 09-30-2024 | $12.6M | $1.7M | $11.0M | $11.0M |
| April 2025 | $25.6M | Current | 6.91% | 1.93 | 1.93 | 100% | $0 | 09-30-2024 | $12.6M | $1.7M | $11.0M | $11.0M |
| May 2025 | $25.5M | Current | 6.91% | 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 | $25.4M | Current | 6.91% | 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 | $25.3M | Current | 6.91% | 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 | $25.2M | Current | 6.91% | 2.29 | 2.29 | 100% | $0 | 03-31-2025 | $3.6M | $345,205 | $3.3M | $3.3M |
| September 2025 | $25.1M | Current | 6.91% | 2.00 | 2.01 | 100% | $0 | 06-30-2025 | $12.8M | $1.4M | $11.4M | $11.4M |
| October 2025 | $24.4M | Current | 6.91% | 2.00 | 2.01 | 100% | $0 | 06-30-2025 | $12.8M | $1.4M | $11.4M | $11.4M |
| November 2025 | $24.3M | Current | 6.91% | 2.00 | 2.01 | 100% | $0 | 06-30-2025 | $12.8M | $1.4M | $11.4M | $11.4M |
| December 2025 | $24.2M | Current | 6.91% | 1.92 | 1.92 | 100% | $0 | 09-30-2025 | $12.3M | $1.4M | $10.9M | $10.9M |
| January 2026 | $24.1M | Current | 6.91% | 1.92 | 1.92 | 100% | $0 | 09-30-2025 | $12.3M | $1.4M | $10.9M | $10.9M |
| February 2026 | $24.0M | Current | 6.91% | 1.92 | 1.92 | 100% | $0 | 09-30-2025 | $12.3M | $1.4M | $10.9M | $10.9M |
| March 2026 | $23.8M | Current | 6.91% | 1.92 | 1.92 | 100% | $0 | 09-30-2025 | $12.3M | $1.4M | $10.9M | $10.9M |
| April 2026 | $23.7M | Current | 6.91% | 1.92 | 1.92 | 100% | $0 | 09-30-2025 | $12.3M | $1.4M | $10.9M | $10.9M |
| May 2026 | $23.6M | Current | 6.91% | 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 | $23.5M | Current | 6.91% | 2.59 | 2.60 | 100% | $0 | 03-31-2026 | $4.2M | $459,268 | $3.7M | $3.7M |
| July 2026 | $23.4M | Current | 6.91% | 2.59 | 2.60 | 100% | $0 | 03-31-2026 | $4.2M | $459,268 | $3.7M | $3.7M |
| August 2026 | $23.3M | Current | 6.91% | 2.59 | 2.60 | 100% | $0 | 03-31-2026 | $4.2M | $459,268 | $3.7M | $3.7M |
| September 2026 | $23.2M | Current | 6.91% | 2.59 | 2.60 | 100% | $0 | 03-31-2026 | $4.2M | $459,268 | $3.7M | $3.7M |
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 |
|---|---|
| 2025-09-26 | Loan modified (rate after modification 0.00%; maturity after modification 2033-05-06; payment after modification $0) |
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-B39 Mortgage Trust.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.