Office · West Palm Beach, Florida
625 North Flagler Drive
625 North Flagler Drive is financed with a $37.7M CMBS loan at 4.94% that reaches maturity on May 1, 2032, in 5 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $37,669,412
- Original balance (same notes)
- $39,000,000
- Interest rate
- 4.94% fixed
- Originated
- April 8, 2022
- Maturity
- May 1, 2032
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- December 31, 2031
- Master servicer
- Trimont LLC
- Originator
- Bank of America, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 625 North Flagler Drive, West Palm Beach, FL 33401
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 108,482 sq ft
- Built
- 1984, renovated 2019
- Largest tenants
- United States of America; Exuma Biotech Corp.; Becker & Poliakoff P.A.
- Value at securitization
- $60.0M (Mar 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.38x | 1.63x |
| Occupancy | 98% | 91% |
| Net operating income (annualized from 6 months) | $3.4M | $4.1M |
| Debt yield | 10.9% |
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 BANK 2022-BNK42 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Largest tenant's lease ends within 12 months
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 fallen from 98% when the loan was securitized to 91%.
- Net operating income is 19% above the underwritten figure ($4.1M a year against $3.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.38x at securitization to 1.63x on the latest statements.
- The filing gives Jan 2027 as the lease end date for the largest tenant (United States of America), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $37.7M | Current | No | 1.63x | 91% |
| August 2026 | $37.7M | Current | No | 1.63x | 91% |
| July 2026 | $37.8M | Current | No | 1.57x | 91% |
| June 2026 | $37.8M | Current | No | 1.57x | 91% |
| May 2026 | $37.9M | Current | No | 1.54x | 91% |
| April 2026 | $37.9M | Current | No | 1.54x | 91% |
| March 2026 | $38.0M | Current | No | 1.53x | 91% |
| February 2026 | $38.0M | Current | No | 1.53x | 91% |
| January 2026 | $38.1M | Current | No | 1.53x | 91% |
| December 2025 | $38.1M | Current | No | 1.53x | 91% |
| November 2025 | $38.2M | Current | No | 1.53x | 91% |
| October 2025 | $38.2M | Current | No | 1.50x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2022-BNK42 | 7 | $37,669,412 | Sep 2026 | SEC filing, September 29, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 360 Rosemary | West Palm Beach, FL | Office | $85.0M | 3.95% | Feb 2032 | 1.82x | 100% | Current |
| Marketplace at the Outlets | West Palm Beach, FL | Retail | $79.0M | 3.454% | Jan 2032 | 2.87x | 99% | Current |
| 4141 NE 2nd Avenue | Miami, FL | Mixed use | $43.5M | 5.41% | Aug 2032 | 2.24x | 93% | Current |
| Aventura Self-Storage Miami FL | Miami, FL | Self storage | $23.0M | 5.41% | Aug 2032 | 1.38x | 95% | Current |
| BJ's Wholesale Club - Kendall | Miami, FL | Retail | $22.1M | 4.70% | Jan 2032 | 1.72x | 100% | Current |
| Hampton by Hilton Inn & Suites Wellington | Wellington, FL | Hotel | $20.9M | 6.945% | Dec 2032 | 2.94x | 70% | Current |
| Forum Office West Palm Beach | West Palm Beach, FL | Office | $20.5M | 3.98% | Feb 2032 | 3.76x | 93% | Current |
| 7800 Red Road | South Miami, FL | Office | $20.0M | 6.35% | Jul 2032 | 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.