← BMO 2023-C5 Mortgage Trust · Loan annex · CMBS market
- Deal
- BMO 2023-C5 Mortgage Trust
- Current balance
- $25.8M (September 2026)
- Share of deal
- 4.0%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2033-06-06
Property and terms
| Property | Montreal Beach Resort |
| Address | 1025 Beach Avenue; Cape May, NJ 08204 |
| Property type | Lodging |
| Units, beds or keys | 69 |
| Net rentable square feet | 37,242 |
| Year built | 1966 |
| Year last renovated | 2022 |
| Original balance | $26.2M |
| Current balance | $25.8M (September 2026) |
| Share of deal balance | 4.0% |
| Interest rate at origination | 7.50% |
| Current interest rate | 7.50% |
| Origination date | 05-12-2023 |
| Original term | 120 months |
| Amortization term | 360 months |
| Interest-only period | 12 months |
| Scheduled maturity | 2033-06-06 |
| Prepayment lockout end | 03-05-2033 |
| Yield maintenance end | not yet reported |
| Servicer | Midland |
| Loan servicer | not yet reported |
| Originator | BSPRT CMBS Finance, LLC |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $42.5M | 01-03-2023 | MAI |
| Most recent reported | $42.5M | 2023-01-03 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 2023 | $26.2M | Matured balloon, performing | 7.50% | 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 | $26.2M | Current | 7.50% | 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 | $26.2M | Current | 7.50% | 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 | $26.2M | Current | 7.50% | 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 | $26.2M | Current | 7.50% | 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 | $26.2M | Matured balloon, non-performing | 7.50% | 2.83 | 3.00 | 58% | $169,475 | 09-30-2023 | $13.0M | $7.0M | $6.0M | $5.7M |
| December 2023 | $26.2M | Current | 7.50% | 2.83 | 3.00 | 58% | $0 | 09-30-2023 | $13.0M | $7.0M | $6.0M | $5.7M |
| January 2024 | $26.2M | Current | 7.50% | 2.83 | 3.00 | 58% | $0 | 09-30-2023 | $13.0M | $7.0M | $6.0M | $5.7M |
| February 2024 | $26.2M | Current | 7.50% | 1.94 | 2.16 | not yet reported | $0 | 12-31-2023 | $11.1M | $6.8M | $4.3M | $3.9M |
| March 2024 | $26.2M | Current | 7.50% | 1.94 | 2.16 | not yet reported | $0 | 12-31-2023 | $11.1M | $6.8M | $4.3M | $3.9M |
| April 2024 | $26.2M | Current | 7.50% | 1.94 | 2.16 | not yet reported | $0 | 12-31-2023 | $11.1M | $6.8M | $4.3M | $3.9M |
| May 2024 | $26.2M | Current | 7.50% | 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 | $26.2M | Current | 7.50% | -0.47 | -0.45 | 17% | $0 | 03-31-2024 | $327,684 | $551,500 | $-223,816 | $-236,923 |
| July 2024 | $26.2M | Current | 7.50% | -0.47 | -0.45 | 17% | $0 | 03-31-2024 | $327,684 | $551,500 | $-223,816 | $-236,923 |
| August 2024 | $26.2M | Current | 7.50% | 0.91 | 0.91 | 42% | $0 | 06-30-2024 | $6.7M | $4.8M | $1.8M | $1.8M |
| September 2024 | $26.2M | Current | 7.50% | 0.91 | 0.91 | 42% | $0 | 06-30-2024 | $6.7M | $4.8M | $1.8M | $1.8M |
| October 2024 | $26.2M | Current | 7.50% | 0.91 | 0.91 | 42% | $0 | 06-30-2024 | $6.7M | $4.8M | $1.8M | $1.8M |
| November 2024 | $26.2M | Current | 7.50% | 0.91 | 0.91 | 60% | $0 | 06-30-2024 | $6.7M | $4.8M | $1.8M | $1.8M |
| December 2024 | $26.2M | Matured balloon, non-performing | 7.50% | 2.12 | 2.37 | 60% | $183,489 | 09-30-2024 | $12.8M | $8.1M | $4.7M | $4.2M |
| January 2025 | $26.1M | Current | 7.50% | 2.12 | 2.37 | 60% | $0 | 09-30-2024 | $12.8M | $8.1M | $4.7M | $4.2M |
| February 2025 | $26.1M | Current | 7.50% | 1.63 | 1.84 | 59% | $0 | 12-31-2024 | $11.3M | $7.5M | $3.9M | $3.4M |
| March 2025 | $26.1M | Current | 7.50% | 1.63 | 1.84 | 59% | $0 | 12-31-2024 | $11.3M | $7.5M | $3.9M | $3.4M |
| April 2025 | $26.1M | Current | 7.50% | 1.63 | 1.84 | 59% | $0 | 12-31-2024 | $11.3M | $7.5M | $3.9M | $3.4M |
| May 2025 | $26.1M | Current | 7.50% | 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 | $26.0M | Current | 7.50% | 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 | $26.0M | Current | 7.50% | -0.45 | -0.41 | 37% | $0 | 03-31-2025 | $533,264 | $760,083 | $-226,819 | $-248,150 |
| August 2025 | $26.0M | Current | 7.50% | -0.45 | -0.41 | 58% | $0 | 03-31-2025 | $533,264 | $760,083 | $-226,819 | $-248,150 |
| September 2025 | $26.0M | Current | 7.50% | -0.45 | -0.41 | 58% | $0 | 03-31-2025 | $533,264 | $760,083 | $-226,819 | $-248,150 |
| October 2025 | $26.0M | Current | 7.50% | 0.59 | 0.73 | 58% | $0 | 06-30-2025 | $7.4M | $5.8M | $1.6M | $1.3M |
| November 2025 | $25.9M | Current | 7.50% | 2.63 | 2.88 | 94% | $0 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| December 2025 | $25.9M | Matured balloon, non-performing | 7.50% | 2.63 | 2.88 | 94% | $183,490 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| January 2026 | $25.9M | Current | 7.50% | 2.63 | 2.88 | 94% | $0 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| February 2026 | $25.9M | Matured balloon, non-performing | 7.50% | 2.63 | 2.88 | 94% | $183,488 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| March 2026 | $25.9M | Matured balloon, non-performing | 7.50% | 2.63 | 2.88 | 94% | $183,493 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| April 2026 | $25.9M | Matured balloon, non-performing | 7.50% | 2.63 | 2.88 | 94% | $183,488 | 09-30-2025 | $13.8M | $7.5M | $6.3M | $5.8M |
| May 2026 | $25.8M | Matured balloon, non-performing | 7.50% | not yet reported | not yet reported | not yet reported | $183,490 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $25.8M | Current | 7.50% | 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 | $25.8M | Current | 7.50% | 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 | $25.8M | Current | 7.50% | 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 | $25.8M | Matured balloon, non-performing | 7.50% | not yet reported | not yet reported | not yet reported | $183,488 | 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.