Retail · Mill Creek, Washington
Creekside Village
Creekside Village is financed with a $12.8M CMBS loan at 7.492% that reaches maturity on January 6, 2034, in 7 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $12,750,000
- Original balance (same notes)
- $12,750,000
- Interest rate
- 7.492% fixed
- Originated
- December 7, 2023
- Maturity
- January 6, 2034
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- GACC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 15111-15129 Main Street, Mill Creek, WA 98012
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 48,090 sq ft
- Built
- 2007
- Largest tenants
- Banner Bank; Forum Dental Meng; ReMax
- Value at securitization
- $20.7M (Oct 2023)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.30x |
| Occupancy | 97% | 100% |
| Net operating income | n/a | $1.3M |
| Debt yield | 9.8% |
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-C24 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 97% when the loan was securitized to 100%.
- The filing gives Nov 2029 as the lease end date for the largest tenant (Banner Bank), 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 | $12.8M | Late payment but less than 30 days delinquent | No | 1.30x | 100% |
| August 2026 | $12.8M | Not reported | No | 1.30x | 100% |
| July 2026 | $12.8M | Not reported | No | 1.30x | 100% |
| June 2026 | $12.8M | Not reported | No | 1.30x | 100% |
| May 2026 | $12.8M | Not reported | No | 1.35x | 100% |
| April 2026 | $12.8M | Not reported | No | 1.33x | 100% |
| March 2026 | $12.8M | Not reported | No | 1.35x | 100% |
| February 2026 | $12.8M | Not reported | No | 1.35x | 100% |
| January 2026 | $12.8M | Not reported | No | 1.35x | 100% |
| December 2025 | $12.8M | Not reported | No | 1.35x | 100% |
| November 2025 | $12.8M | Not reported | No | 1.17x | 100% |
| October 2025 | $12.8M | Not reported | No | 1.29x | 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-C24 | 22 | $12,750,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Paramount Hotel Seattle | Seattle, WA | Hotel | $25.0M | 6.425% | Dec 2034 | n/a | n/a | Current |
| 2 Chelan Apartments | Tacoma, WA | Multifamily | $8.1M | 6.796% | May 2034 | 1.21x | 88% | 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.