Office · Boca Raton, Florida
3200 North Military Trail
3200 North Military Trail is financed with a $5.4M CMBS loan at 7.785% that reaches maturity on March 6, 2034, in 7 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,400,000
- Original balance (same notes)
- $5,400,000
- Interest rate
- 7.785% fixed
- Originated
- February 28, 2024
- Maturity
- March 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ended
- April 5, 2026
- Prepayment premium ends
- November 5, 2033 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 3200 North Military Trail, Boca Raton, FL 33431
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 24,860 sq ft
- Built
- 1986
- Largest tenants
- Woolbright devolopment inc.
- Value at securitization
- $8.8M (Feb 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.05x | 1.91x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $876K | $812K |
| Debt yield | 15.0% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BBCMS Mortgage Trust 2024-C26 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Net operating income is 7% below the underwritten figure ($812K a year against $876K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.05x at securitization to 1.91x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.4M | Current | No | 1.91x | 100% |
| August 2026 | $5.4M | Current | No | 1.91x | 100% |
| July 2026 | $5.4M | Current | No | 1.91x | 100% |
| June 2026 | $5.4M | Current | No | 1.91x | 100% |
| May 2026 | $5.4M | Current | No | 2.09x | 100% |
| April 2026 | $5.4M | Current | No | 2.09x | 100% |
| March 2026 | $5.4M | Current | No | 2.00x | 100% |
| February 2026 | $5.4M | Current | No | 2.00x | 100% |
| January 2026 | $5.4M | Current | No | 2.00x | 100% |
| December 2025 | $5.4M | Current | No | 2.00x | 100% |
| November 2025 | $5.4M | Current | No | 1.97x | 100% |
| October 2025 | $5.4M | Current | No | 1.97x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-C26 | 38 | $5,400,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Kendall Value Center | Miami, FL | Retail | $25.0M | 6.47% | Jul 2034 | 1.98x | 100% | Current |
| Miami Lakes Medical Office Park | Miami Lakes, FL | Office | $9.0M | 7.65% | Jun 2034 | n/a | n/a | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.