Office · Morristown, New Jersey
340 Mount Kemble
Public CMBS trusts hold $72.9M of the loan on 340 Mount Kemble at 6.941% that reaches maturity on February 1, 2035, in 8 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $72,853,045
- Original balance (same notes)
- $72,950,000
- Interest rate
- 6.941% fixed
- Originated
- January 21, 2025
- Maturity
- February 1, 2035
- Payments
- Interest only for 53 months, then amortizing
- Prepayment lockout ends
- August 31, 2027
- Prepayment premium ends
- July 31, 2034 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Societe Generale Financial Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 340 Mount Kemble Avenue, Morristown, NJ 07960
- Metro
- New York-Newark-Jersey City, NY-NJ
- Rentable area
- 439,059 sq ft
- Built
- 1982, renovated 2021
- Largest tenants
- First- Citizens Bank & Trust Company; Morgan Stanley Smith Barney Financing LLC.; Zelis Healthcare, LLC
- Value at securitization
- $118.1M (Oct 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.63x | 1.98x |
| Occupancy | 95% | 100% |
| Net operating income (annualized from 6 months) | $10.4M | $20.5M |
| Debt yield | 28.1% |
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 2025-C35 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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
- Occupancy has risen from 95% when the loan was securitized to 100%.
- Net operating income is 96% above the underwritten figure ($20.5M a year against $10.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.63x at securitization to 1.98x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $72.9M | Current | No | 1.98x | 100% |
| August 2026 | $73.0M | Current | No | 1.98x | 100% |
| July 2026 | $73.0M | Current | No | n/a | n/a |
| June 2026 | $73.0M | Current | No | n/a | n/a |
| May 2026 | $73.0M | Current | No | n/a | n/a |
| April 2026 | $73.0M | Current | No | 1.82x | 89% |
| March 2026 | $73.0M | Current | No | 1.97x | 89% |
| February 2026 | $73.0M | Current | No | 1.97x | 89% |
| January 2026 | $73.0M | Current | No | 1.97x | 89% |
| December 2025 | $73.0M | Current | No | 1.97x | 89% |
| November 2025 | $73.0M | Current | No | 1.97x | 89% |
| October 2025 | $73.0M | Current | No | 2.07x | 89% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2025-C11 Mortgage Trust | 3 | $58,921,585 | Sep 2026 | SEC filing, October 2, 2026 |
| BBCMS Mortgage Trust 2025-C35 | 17 | $13,931,460 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 32 Old Slip - Leased Fee | New York, NY | Other | $167.0M | 5.65% | May 2035 | 1.01x | 100% | Current |
| Rentar Plaza | Queens, NY | Mixed use | $160.0M | 5.581% | Jul 2035 | 2.21x | 99% | Current |
| 255 Greenwich | New York, NY | Office | $147.0M | 6.405% | Dec 2035 | n/a | n/a | Current |
| Uovo Qpn | New York, NY | Self storage | $143.0M | 6.485% | Feb 2035 | n/a | n/a | Current |
| 29-33 9th Ave (Soho House) | New York, NY | Mixed use | $135.0M | 6.44% | Feb 2035 | n/a | n/a | Current |
| 512 West 22nd Street | New York, NY | Office | $130.0M | 6.641% | Sep 2035 | 1.57x | 100% | Current |
| 525 7th Avenue | New York, NY | Office | $125.0M | 6.28% | Nov 2035 | n/a | n/a | Current |
| 4 Union Square South | New York, NY | Retail | $120.0M | 5.642% | Sep 2035 | 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.