← Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C2 · Loan annex · CMBS market
- Deal
- Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C2
- Current balance
- $53.6M (September 2026)
- Share of deal
- 7.5%
- Status
- Current
- DSCR (latest)
- 1.62
- Occupancy (latest)
- 92%
- Scheduled maturity
- 2030-11-01
Property and terms
| Property | STERLING PLAZA |
| Address | 3535 AND 3545 FACTORIA BOULEVARD SOUTHEAST; Bellevue, WA 98006 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 229,633 |
| Year built | 1989 |
| Year last renovated | 2024 |
| Original balance | $53.6M |
| Current balance | $53.6M (September 2026) |
| Share of deal balance | 7.5% |
| Interest rate at origination | 6.49% |
| Current interest rate | 6.49% |
| Origination date | 10-03-2025 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2030-11-01 |
| Prepayment lockout end | 11-30-2027 |
| Yield maintenance end | 04-30-2030 |
| Servicer | Trimont LLC |
| Loan servicer | not yet reported |
| Originator | BANA |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $79.4M | 08-20-2025 | MAI |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Expeditors International | 61,800 | 06-30-2028 |
| Ericsson Inc. | 33,435 | 05-31-2033 |
| Synology America Corp. | 20,962 | 07-31-2030 |
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 2025 | $53.6M | Current | 6.49% | 2.11 | 2.11 | 93% | $0 | 06-30-2025 | $10.6M | $3.1M | $7.4M | $7.4M |
| December 2025 | $53.6M | Current | 6.49% | 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 2026 | $53.6M | Current | 6.49% | 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 2026 | $53.6M | Current | 6.49% | 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 2026 | $53.6M | Current | 6.49% | 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 2026 | $53.6M | Current | 6.49% | 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 2026 | $53.6M | Current | 6.49% | 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 | $53.6M | Current | 6.49% | 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 | $53.6M | Current | 6.49% | 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 | $53.6M | Current | 6.49% | 1.62 | 1.80 | 92% | $0 | 06-30-2026 | $5.2M | $2.0M | $3.2M | $2.8M |
| September 2026 | $53.6M | Current | 6.49% | 1.62 | 1.80 | 92% | $0 | 06-30-2026 | $5.2M | $2.0M | $3.2M | $2.8M |
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.