Multifamily · Marietta, Georgia
Elevate at the Pointe
Elevate at the Pointe is financed with a $26.5M CMBS loan at 6.20% that reaches maturity on February 5, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $26,500,000
- Original balance (same notes)
- $26,500,000
- Interest rate
- 6.20% fixed
- Originated
- January 9, 2024
- Maturity
- February 5, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 4, 2028
- Master servicer
- 3650 Loan Servicing
- Originator
- 3650 Real Estate Investment Trust 2 LLC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred July 17, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 707 Franklin Gateway, Marietta, GA 30067
- Metro
- Atlanta-Sandy Springs-Roswell, GA
- Units, rooms or beds
- 181
- Built
- 1969, renovated 2022
- Value at securitization
- $48.3M (Dec 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.41x | 1.01x |
| Occupancy | 96% | 90% |
| Net operating income | $2.4M | $1.7M |
| Debt yield | 6.3% |
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 2024-5C25 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since August 2026.
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 96% when the loan was securitized to 90%.
- Net operating income is 29% below the underwritten figure ($1.7M a year against $2.4M).
- Debt service coverage moved from 1.41x at securitization to 1.01x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.5M | Late payment but less than 30 days delinquent | Yes | 1.01x | 90% |
| August 2026 | $26.5M | Late payment but less than 30 days delinquent | Yes | 1.01x | 90% |
| July 2026 | $26.5M | Current | No | 1.01x | 90% |
| June 2026 | $26.5M | Current | No | 1.01x | 90% |
| May 2026 | $26.5M | Current | No | n/a | n/a |
| April 2026 | $26.5M | Current | No | 1.15x | 93% |
| March 2026 | $26.5M | Current | No | 1.30x | 91% |
| February 2026 | $26.5M | Current | No | 1.30x | 91% |
| January 2026 | $26.5M | Current | No | 1.30x | 91% |
| December 2025 | $26.5M | Current | No | 1.30x | 91% |
| November 2025 | $26.5M | Current | No | n/a | n/a |
| October 2025 | $26.5M | 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.
Special-servicing history
- Transferred to the special servicer July 17, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C25 | 12 | $26,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Atlanta-Sandy Springs-Roswell loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Colony Square | Atlanta, GA | Mixed use | $260.0M | 7.375% | Oct 2029 | n/a | n/a | Current |
| Embassy Suites At Centennial Olympic Park | Atlanta, GA | Hotel | $73.0M | 4.59% | Jul 2029 | 1.89x | 74% | Current |
| 1198 Woodland Avenue NE | Atlanta, GA | Multifamily | $66.5M | 6.348% | Aug 2029 | n/a | n/a | Current |
| Wildwood Center | Atlanta, GA | Office | $65.0M | 7.98% | Mar 2029 | 1.45x | 81% | Current |
| Sugarloaf Mills | Lawrenceville, GA | Retail | $62.8M | 8.017% | May 2029 | 3.05x | 87% | Current |
| Westin Atlanta Airport | Atlanta, GA | Hotel | $52.6M | 4.62% | Apr 2029 | n/a | n/a | Current |
| AVR Renaissance Atlanta Airport Gateway Hotel | Atlanta, GA | Hotel | $48.0M | 3.65% | Dec 2029 | n/a | n/a | Current |
| Eleven Seventeen Perimeter | Atlanta, GA | Office | $44.0M | 4.18% | Jul 2029 | 0.59x | 41% | Late, less than 30 days |
All loans maturing in 2029 · All Atlanta-Sandy Springs-Roswell loans
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.