← FIVE 2023-V1 Mortgage Trust · Loan annex · CMBS market
- Deal
- FIVE 2023-V1 Mortgage Trust
- Current balance
- $25.0M (September 2026)
- Share of deal
- 4.6%
- Status
- Matured balloon, non-performing
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2028-01-06
Property and terms
| Property | Metroplex |
| Address | 3530 Wilshire Blvd; Los Angeles, CA 90057 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 419,804 |
| Year built | 1985 |
| Year last renovated | not yet reported |
| Original balance | $25.0M |
| Current balance | $25.0M (September 2026) |
| Share of deal balance | 4.6% |
| Interest rate at origination | 6.72% |
| Current interest rate | 6.72% |
| Origination date | 01-06-2023 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2028-01-06 |
| Prepayment lockout end | 02-05-2024 |
| Yield maintenance end | 09-05-2027 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | German American Capital Corporation |
| Current status | Matured balloon, non-performing |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $104.0M | 10-10-2022 | MAI |
| Most recent reported | $104.0M | 2022-10-10 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| County of Los Angeles | 47,590 | 02-03-2028 |
| New York Life Insurance Company | 24,462 | 06-30-2030 |
| County of Los Angeles - DPH | 16,982 | 02-03-2028 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2023 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 1.52 | 1.63 | 66% | $0 | 09-30-2023 | $9.6M | $3.6M | $6.0M | $5.6M |
| April 2024 | $25.0M | Current | 6.72% | 1.53 | 1.64 | not yet reported | $0 | 12-31-2023 | $9.8M | $3.7M | $6.0M | $5.6M |
| May 2024 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 | $25.0M | Current | 6.72% | 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 2024 | $25.0M | Current | 6.72% | 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 2024 | $25.0M | Current | 6.72% | 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 2024 | $25.0M | Current | 6.72% | 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 2024 | $25.0M | Matured balloon, performing | 6.72% | not yet reported | not yet reported | not yet reported | $144,688 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2024 | $25.0M | Current | 6.72% | 1.68 | 1.79 | 66% | $0 | 06-30-2024 | $10.3M | $3.7M | $6.6M | $6.2M |
| January 2025 | $25.0M | Matured balloon, performing | 6.72% | 1.68 | 1.79 | 66% | $144,688 | 06-30-2024 | $10.3M | $3.7M | $6.6M | $6.2M |
| February 2025 | $25.0M | Current | 6.72% | 1.68 | 1.79 | 66% | $0 | 06-30-2024 | $10.3M | $3.7M | $6.6M | $6.2M |
| March 2025 | $25.0M | Current | 6.72% | 1.68 | 1.79 | 66% | $0 | 06-30-2024 | $10.3M | $3.7M | $6.6M | $6.2M |
| April 2025 | $25.0M | Current | 6.72% | 1.68 | 1.79 | 66% | $0 | 06-30-2024 | $10.3M | $3.7M | $6.6M | $6.2M |
| May 2025 | $25.0M | Current | 6.72% | 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 | $25.0M | Matured balloon, performing | 6.72% | not yet reported | not yet reported | not yet reported | $144,688 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2025 | $25.0M | Matured balloon, non-performing | 6.72% | not yet reported | not yet reported | not yet reported | $140,021 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2025 | $25.0M | Matured balloon, performing | 6.72% | 1.40 | 1.51 | 62% | $144,688 | 03-31-2025 | $2.3M | $894,835 | $1.4M | $1.3M |
| September 2025 | $25.0M | Current | 6.72% | 1.40 | 1.51 | 62% | $0 | 03-31-2025 | $2.3M | $894,835 | $1.4M | $1.3M |
| October 2025 | $25.0M | Matured balloon, performing | 6.72% | 1.44 | 1.55 | 62% | $140,021 | 06-30-2025 | $9.3M | $3.6M | $5.7M | $5.3M |
| November 2025 | $25.0M | Matured balloon, performing | 6.72% | 1.44 | 1.55 | 62% | $144,688 | 06-30-2025 | $9.3M | $3.6M | $5.7M | $5.3M |
| December 2025 | $25.0M | Matured balloon, non-performing | 6.72% | 1.44 | 1.55 | 62% | $140,021 | 06-30-2025 | $9.3M | $3.6M | $5.7M | $5.3M |
| January 2026 | $25.0M | Matured balloon, performing | 6.72% | 1.44 | 1.55 | 62% | $144,688 | 06-30-2025 | $9.3M | $3.6M | $5.7M | $5.3M |
| February 2026 | $25.0M | Matured balloon, performing | 6.72% | 1.48 | 1.59 | 63% | $144,688 | 09-30-2025 | $9.3M | $3.5M | $5.8M | $5.4M |
| March 2026 | $25.0M | Matured balloon, performing | 6.72% | 1.48 | 1.59 | 63% | $130,686 | 09-30-2025 | $9.3M | $3.5M | $5.8M | $5.4M |
| April 2026 | $25.0M | Matured balloon, performing | 6.72% | 1.48 | 1.59 | 63% | $144,688 | 09-30-2025 | $9.3M | $3.5M | $5.8M | $5.4M |
| May 2026 | $25.0M | Matured balloon, performing | 6.72% | not yet reported | not yet reported | not yet reported | $140,021 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $25.0M | Matured balloon, non-performing | 6.72% | not yet reported | not yet reported | not yet reported | $144,688 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $25.0M | Matured balloon, performing | 6.72% | not yet reported | not yet reported | not yet reported | $140,021 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2026 | $25.0M | Matured balloon, performing | 6.72% | not yet reported | not yet reported | not yet reported | $144,688 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2026 | $25.0M | Matured balloon, non-performing | 6.72% | not yet reported | not yet reported | not yet reported | $144,688 | 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: MSWF Commercial Mortgage Trust 2023-1; MSWF Commercial Mortgage Trust 2023-2.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.