← Wells Fargo Commercial Mortgage Trust 2025-C65 · Loan annex · CMBS market
- Deal
- Wells Fargo Commercial Mortgage Trust 2025-C65
- Current balance
- $57.5M (September 2026)
- Share of deal
- 8.4%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2035-06-09
Property and terms
| Property | 45 - 75 Sidney (and 7 more properties) |
| Address | 45-75 Sidney Street; 40 Landsdowne Street; 35 Landsdowne Street; 65 Landsdowne Street; 88 Sidney Street; 64 Sidney Street; 38 Sidney Street; 26 Landsdowne Street; Cambridge, MA (and 7 more) 02139 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | not yet reported |
| Year built | not yet reported |
| Year last renovated | ["2018", "2016", "2016", "2019", "2019", "2019"] |
| Original balance | $57.5M |
| Current balance | $57.5M (September 2026) |
| Share of deal balance | 8.4% |
| Interest rate at origination | 5.89% |
| Current interest rate | 5.89% |
| Origination date | 06-05-2025 |
| Original term | 120 months |
| Amortization term | not yet reported |
| Interest-only period | 120 months |
| Scheduled maturity | 2035-06-09 |
| Prepayment lockout end | 12-08-2034 |
| Yield maintenance end | not yet reported |
| Servicer | KeyBank National Association |
| Loan servicer | not yet reported |
| Originator | JPMCB/SGFC/GSBI |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| Most recent reported | not yet reported | not yet reported | ["MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI"] |
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Blueprint Medicines Corp | not yet reported | ["11-30-2029", "06-30-2030", "06-30-2030", "08-31-2026", "02-29-2028", "02-29-2032", "11-30-2029", "09-30-2028"] |
| Takeda Vaccines, Inc. | not yet reported | ["01-31-2032", "02-29-2028", "02-29-2028", "09-30-2028"] |
| BioNTech US Inc. | not yet reported | ["03-21-2026", "11-30-2026", "08-31-2026", "06-30-2028"] |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 2025 | $57.5M | Current | 5.89% | 2.59 | 2.59 | 96% | $0 | 02-28-2025 | $175.9M | $44.9M | $131.0M | $131.0M |
| November 2025 | $57.5M | Current | 5.89% | 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 2025 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 2.84 | 2.87 | 100% | $0 | 09-30-2025 | $244.9M | $54.4M | $190.5M | $188.5M |
| April 2026 | $57.5M | Current | 5.89% | 2.84 | 2.87 | 100% | $0 | 09-30-2025 | $244.9M | $54.4M | $190.5M | $188.5M |
| May 2026 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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 | $57.5M | Current | 5.89% | 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: Bank 2025-BNK51; BBCMS Mortgage Trust 2025-C35; Benchmark 2025-B41 Mortgage Trust; Benchmark 2026-B42 Mortgage Trust; BMO 2025-C13 Mortgage Trust; Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.