Retail · Hyannis, Massachusetts
Cape Cod Mall
Public CMBS trusts hold $54.0M of the loan on Cape Cod Mall at 6.455% that reaches maturity on June 1, 2035, in 8 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $54,000,000
- Original balance (same notes)
- $54,000,000
- Interest rate
- 6.455% fixed
- Originated
- May 8, 2025
- Maturity
- June 1, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 30, 2034
- Master servicer
- Trimont LLC
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 769 Iyannough Road, Hyannis, MA 02601
- Rentable area
- 506,308 sq ft
- Built
- 1970, renovated 1999
- Largest tenants
- Target; Bill Hanney's That's Entertainment; Dick's Sporting Goods
- Value at securitization
- $108.0M (Apr 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.98x | 2.62x |
| Occupancy | 91% | 90% |
| Net operating income (annualized from 3 months) | $10.5M | $9.3M |
| Debt yield | 17.2% |
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 BMO 2025-C12 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
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 12% below the underwritten figure ($9.3M a year against $10.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.98x at securitization to 2.62x on the latest statements.
- The filing gives Jan 2030 as the lease end date for the largest tenant (Target), 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 | $54.0M | Current | No | 2.62x | 90% |
| August 2026 | $54.0M | Current | No | 2.62x | 90% |
| July 2026 | $54.0M | Current | No | 2.62x | 90% |
| June 2026 | $54.0M | Current | No | 2.62x | 90% |
| May 2026 | $54.0M | Current | No | 3.06x | 90% |
| April 2026 | $54.0M | Current | No | 3.08x | 90% |
| March 2026 | $54.0M | Current | No | 3.08x | 90% |
| February 2026 | $54.0M | Current | No | 3.08x | 90% |
| January 2026 | $54.0M | Current | No | 3.08x | 90% |
| December 2025 | $54.0M | Current | No | n/a | n/a |
| November 2025 | $54.0M | Current | No | n/a | n/a |
| October 2025 | $54.0M | Current | No | n/a | n/a |
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 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2025-C12 Mortgage Trust | 5 | $38,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2025-C13 Mortgage Trust | 25 | $10,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2025-C12 Mortgage Trust | 5A | $6,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
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.