Retail · Elmwood, Louisiana
Elmwood Shopping Center
Public CMBS trusts hold $85.0M of the loan on Elmwood Shopping Center at 6.60% that reaches maturity on January 6, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $85,000,000
- Original balance (same notes)
- $85,000,000
- Interest rate
- 6.60% fixed
- Originated
- December 20, 2023
- Maturity
- January 6, 2029
- Payments
- Interest only for the full term
- Prepayment premium ends
- July 5, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1200 South Clearview Parkway, Elmwood, LA 70123
- Metro
- New Orleans-Metairie, LA
- Rentable area
- 804,807 sq ft
- Built
- 1977, renovated 2020
- Largest tenants
- Home Depot; Ochsner (EFC); Hobby Lobby
- Value at securitization
- $208.1M (Nov 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.49x | 2.50x |
| Occupancy | 92% | 96% |
| Net operating income (annualized from 6 months) | $14.2M | $14.3M |
| Debt yield | 16.8% |
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 2024-5C25 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 92% when the loan was securitized to 96%.
- The filing gives Jan 2028 as the lease end date for the largest tenant (Home Depot), 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 | $85.0M | Current | No | 2.50x | 96% |
| August 2026 | $85.0M | Current | No | 2.50x | 96% |
| July 2026 | $85.0M | Current | No | 2.28x | 96% |
| June 2026 | $85.0M | Current | No | 2.28x | 96% |
| May 2026 | $85.0M | Current | No | 2.28x | 96% |
| April 2026 | $85.0M | Current | No | 2.28x | 96% |
| March 2026 | $85.0M | Current | No | 2.27x | 96% |
| February 2026 | $85.0M | Current | No | 2.27x | 96% |
| January 2026 | $85.0M | Current | No | 2.27x | 96% |
| December 2025 | $85.0M | Current | No | 2.33x | 96% |
| November 2025 | $85.0M | Current | No | 2.33x | 96% |
| October 2025 | $85.0M | Current | No | 2.33x | 96% |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2024-5C3 Mortgage Trust | 2 | $70,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BBCMS Mortgage Trust 2024-5C25 | 20 | $15,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New Orleans-Metairie loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Intercontinental New Orleans | New Orleans, LA | Hotel | $185.0M | 4.958% | May 2029 | n/a | n/a | Current |
| Doubletree New Orleans | New Orleans, LA | Hotel | $74.0M | 3.833% | Dec 2029 | 0.99x | 65% | Current |
| Pan American Life Center | New Orleans, LA | Office | $43.2M | 3.97% | Jun 2029 | 1.70x | 80% | Current |
| Victory Louisiana Real Estate Portfolio | Metairie, LA | Retail | $34.0M | 7.195% | Mar 2029 | 1.76x | 100% | Current |
| Emerald Pointe Apartments, Harvey | Harvey, LA | Multifamily | $25.0M | 3.80% | Aug 2029 | 3.07x | 94% | Current |
| Marriott Metairie At Lakeway | Metairie, LA | Hotel | $14.9M | 4.55% | Jun 2029 | 3.04x | 70% | Current |
| Hotel St. Marie - New Orleans | New Orleans, LA | Hotel | $12.2M | 4.10% | Jul 2029 | 2.42x | 75% | Current |
| DH Holmes | New Orleans, LA | Multifamily | $9.5M | 7.952% | Aug 2029 | 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.