Industrial · Kissimmee, Florida
Commerce Boulevard Industrial
Commerce Boulevard Industrial is financed with a $15.0M CMBS loan at 7.058% that reaches maturity on November 6, 2034, in 8 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $15,000,000
- Original balance (same notes)
- $15,000,000
- Interest rate
- 7.058% fixed
- Originated
- October 30, 2024
- Maturity
- November 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2034
- Master servicer
- Midland
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3600 and 3700 Commerce Boulevard, Kissimmee, FL 34741
- Metro
- Orlando-Kissimmee-Sanford, FL
- Rentable area
- 181,304 sq ft
- Built
- 2001
- Largest tenants
- Florida Department of Industrial Health; Daikin Comfort Technologies Office Distribution, Inc. (GoodMan); Embrace Families Community Based Care, Inc.
- Value at securitization
- $21.0M (Aug 2024)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.43x | n/a |
| Occupancy | 85% | n/a |
| Net operating income | $1.5M | n/a |
Watch flags
Computed from the BBCMS Mortgage Trust 2025-C32 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
- The filing gives Apr 2030 as the lease end date for the largest tenant (Florida Department of Industrial Health), 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 | $15.0M | Current | No | n/a | n/a |
| August 2026 | $15.0M | Current | No | n/a | n/a |
| July 2026 | $15.0M | Current | No | n/a | n/a |
| June 2026 | $15.0M | Current | No | n/a | n/a |
| May 2026 | $15.0M | Current | No | n/a | n/a |
| April 2026 | $15.0M | Current | No | 1.73x | 82% |
| March 2026 | $15.0M | Current | No | 1.73x | 82% |
| February 2026 | $15.0M | Current | No | 1.73x | 82% |
| January 2026 | $15.0M | Current | No | 1.55x | 85% |
| December 2025 | $15.0M | Late payment but less than 30 days delinquent | No | 1.55x | 85% |
| November 2025 | $15.0M | Current | No | n/a | n/a |
| October 2025 | $15.0M | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-C32 | 21 | $15,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Orlando-Kissimmee-Sanford loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Belle Avenue | Winter Springs, FL | Industrial | $38.4M | 6.536% | Jul 2034 | n/a | n/a | Current |
| Orange Blossom Center | Orlando, FL | Retail | $11.0M | 6.696% | Aug 2034 | 2.65x | 99% | Current |
| Bentley Villas | Leesburg, FL | Multifamily | $4.8M | 6.27% | Sep 2034 | 0.98x | n/a | Current |
| Walnut Ridge | Leesburg, FL | Multifamily | $2.6M | 6.53% | Jul 2034 | n/a | n/a | Current |
| Azalea Hill Apartments | Leesburg, FL | Multifamily | $2.5M | 6.57% | Aug 2034 | 0.87x | 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.